Apollo Group, Inc. (NASDAQ:APOL) today reported financial results for the three months ended November 30, 2010.
“During the first quarter of fiscal 2011, we began the important process of implementing several of the key strategic initiatives that we’ve been developing in recent quarters and that are designed to enhance the student experience, expand student protections and ensure that we enroll students who we believe have a greater likelihood to succeed in our programs,” said Apollo Group Co-Chief Executive Officer and Apollo Global Chairman Greg Cappelli. “While we do not yet have enough data from these new initiatives to draw firm conclusions, we are pleased with the early results.”
Apollo Group Co-Chief Executive Officer Chas Edelstein added, “While these initiatives are resulting in a period of transition, we expect to prudently manage our cost structure to appropriately align it with both the size of the business and the needs of our students. We believe these actions are the right things to do for our students, and importantly, we are confident that over time they will solidify our leadership role within the industry and put our organization on a path of more consistently delivering high quality growth.”
Apollo Group, Inc. provides educational programs and services at the undergraduate, master’s, and doctoral levels. The company offers associate’s, bachelor’s, master’s, and doctoral degree programs in arts and sciences, business and management, criminal justice and security, counseling, education, human services, health care, psychology, technology, and nursing through its campus locations and learning centers in 39 states, the District of Columbia, and Puerto Rico, as well as through its online education delivery system. It also provides program development, administration, and management consulting services to private colleges and universities comprising degree program design, curriculum development, market research, student recruitment, accounting, and administrative services. In addition, the company offers financial services education programs and certification programs in retirement, asset management, and other financial planning areas; degree programs online to working learners in Canada and internationally; and education and training to professionals in the legal and finance industries in the United Kingdom. Apollo Group, Inc. was founded in 1973 and is based in Phoenix, Arizona.
American Video Teleconferencing Corp. (OTCPK:AVOT)
Rare-earth metals include terbium, which finds use in flat-panel TVs and high-efficiency fluorescent lamps, and neodymium, key to the permanent magnets in high-efficiency electric motors. Rare-earth metals are not indeed rare. The series of nonferrous metals is common in the environment. According to Design Chain Associates, most rare-earth metals are as common as copper, and even the rarest is more common than gold.
Part of the market pressure on rare-earth metals comes from new demands that green technologies has prompted. The market, including electric- and hybrid-vehicle motors and wind turbines, requires magnets.
American Video Teleconferencing Corp. is presently in final discussions to enter into a formal agreement to acquire an exclusive option on a molybdenum property in the Otter lake area in the province of Quebec, Canada. The property has been dormant since the 1960’s when Hupon Mining and Exploration carried out surface work, stripping, trenching and a minor drill program of 445 feet contained in 11 drill holes. Some of the sample results from the trenching in 1962 showed 0.94% to 25% molybdenum averaging 5-10%. These values were obtained from assessment files in the Department of Mines in Quebec City.
This property is only one of several advanced stage properties AVOT has under consideration in the province of Quebec.
In other company news, AVOT recently announced that it has hired a French speaking geologist to search the archives of the Quebec Department of Mines for Rare Earths showings not on a current computer file. AVOT believes the rare earths industry is where it wants to maintain a very strong focus and is looking to expand its holdings. As neither the Federal nor Quebec Governments have carried out any air borne surveys in this area, AVOT will seek a contractor to do an air borne Mag-EM radiometric survey. This survey will cover its present holdings and the immediate surrounding area looking for future acquisitions. We are pleased to be working in the Province of Quebec as it is rated the number one jurisdiction in the world to carry out mineral exploration. The Quebec Government gives a rebate up to 45% for property expenditures.
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