Thu, Jan. 8, 12:47 PM
Thu, Jan. 8, 9:15 AM
Thu, Jan. 8, 8:03 AM
- Apollo Group (NASDAQ:APOL) reports University of Phoenix degreed enrollment fell 13.5% to 227.4K in FQ1.
- New degreed enrollment was 5.0% lower than a year ago at 39,600.
- Segment revenue: University of Phoenix: $592.85M (-20.41%); Apollo Global: $114.14M (26.31%); Other: $11.06M (-8.80%).
- Segment operating income: University of Phoenix: $93.51M (-49.03%); Apollo Global: -$4.84M; Other: -$28.18M.
- FQ2 Guidance: Net revenue: $580M to $595M; Operating loss: $25M to $35M.
- FY2015 Guidance: Net revenue: $2.74B to $2.80B; Operating income: $250M to $290M.
- APOL -5.84% premarket.
Jul. 14, 2014, 5:37 PM
Jul. 14, 2014, 5:05 PM
- Apollo Education (NASDAQ:APOL) discloses the Department of Education plans to "conduct an ordinary course program review of University of Phoenix's administration of federal student financial aid (Title IV) programs in which the University participates."
- The review will "cover federal financial aid years 2012-2013 and 2013-2014, as well as compliance with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, the Drug-Free Schools and Communities Act and related regulations."
May. 22, 2014, 11:34 AM
Apr. 2, 2014, 12:46 PM
Apr. 1, 2014, 5:38 PM
Apr. 1, 2014, 4:04 PM
Feb. 27, 2014, 1:47 PM
- "ITT Educational Services (ESI -2.2%) believes that the CFPB's complaint should never have been filed. The complaint overwhelmingly focuses on issues that are unrelated to consumer finance, and attempts to cast a negative light on aspects of ITT Tech's activities that are extensively regulated by other government agencies."
- The core of the CFPB's claims concern just six months of loans, but the bureau knows, says ITT, independent parties provided those loans and the programs ended years ago. "Significantly, ITT Tech did not make any money, in interest or fees, from those third-party programs, which were designed to help students during the recent economic downturn."
- "Much of the complaint relies on 'mystery shoppers,' a program that ITT Tech itself voluntarily uses to make sure its policies are being followed by its employees, and to help ensure that errors in implementation are caught and corrected."
- "The complaint is an aggressive attempt by the Bureau, recently created by the Dodd-Frank Act, to extend its jurisdiction into matters well beyond consumer finance. It is unjustified as a matter of law and mistaken as a matter of fact."
- That's the point, says Herb Greenberg. "It creates a roadmap ... other for profits should shudder."
- Press release
- Previous coverage of CFPB suit
- Other sector names: APOL, CECO, COCO, DV, STRA, LOPE, APEI, EDMC, LINC
Jan. 8, 2014, 11:38 AM
- Education stocks are ripping gains up and down the sector after Apollo Education (APOL +12.7%) showed the way to profitability.
- The slice-and-dice job at the company did wonders for Q1 EPS, but didn't cut into FY14 revenue projections.
- Investors are betting other for-profit players will follow the road map.
- Gainers: CECO +7.4%, COCO +1.8%, DV +5.1%, STRA +5.5%, ESI +4.7%, LOPE +2.6%, APEI +1.8%, EDMC +3.5%, LINC +2.4%.
Jan. 7, 2014, 5:38 PM
Oct. 23, 2013, 12:46 PM
Oct. 23, 2013, 9:11 AM
Oct. 22, 2013, 5:50 PM
Oct. 22, 2013, 4:39 PM
- FQ4 revenue of $845M is off 15% Y/Y with University of Phoenix enrollemtn down 18.1% to 269K. Operating income of $34.7M is off 61%.
- FY2014 revenue guidance of $2.95B-$3.05B and operating income of $375M-$450M. Fixed operating costs are expected to be cut by a minimum $300M, bringing the cost base to $650M or 18% lower than FY2012.
- Conference call at 5 ET.
- FQ3 results, press release.
- APOL +13% AH.
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