Apollo (APOL) Beats Q3 Views Amid New Enrollment Drop; Guidance Relatively Strong
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Price: $20.20 -3.21%
Revenue Growth %: -13.9%
Financial Fact:
Basic weighted average shares outstanding: 112.57M
Today's EPS Names:
CO, JW-A, FDS, More
Revenue Growth %: -13.9%
Financial Fact:
Basic weighted average shares outstanding: 112.57M
Today's EPS Names:
CO, JW-A, FDS, More
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Apollo Group, Inc. (Nasdaq: APOL), is tracking higher after-hours following third-quarter earnings report showing strong numbers amid recent constraints placed on for-profit schools.
Revenues fell 7.6 percent from $1.34 billion to $1.24 billion, beating Street consensus views calling for $1.20 billion.
Net income increased about 19 percent, from $179.28 million to $212.44 million, or $1.51 per diluted share. Excluding items like a tax benefit and litigation costs, and EPS was a more modest $1.45, still beating the consensus of $1.34.
New Degreed Enrollment fell 40.5 percent in the quarter.
"During the third quarter, we continued to execute on our key initiatives to improve outcomes, enhance student protections, and elevate the educational experience throughout every touch point of the student lifecycle," said Co-CEO Greg Cappelli. "We are encouraged by the progress we are making in improving retention rates and continuing to shift the mix of our students toward higher degree level programs."
Looking ahead, Apollo sees fiscal 2011 net revs of $4.65 to $4.75 billion and adjusted operating income of $1.15 to $1.20 billion. The Street is looking for revs of 4.67 billion. For fiscal 2012, Apollo expects revs of $4.00 to $4.25 billion, versus the consensus of $4.14 billion.
Apollo is up just above 6 percent post-market.
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Revenues fell 7.6 percent from $1.34 billion to $1.24 billion, beating Street consensus views calling for $1.20 billion.
Net income increased about 19 percent, from $179.28 million to $212.44 million, or $1.51 per diluted share. Excluding items like a tax benefit and litigation costs, and EPS was a more modest $1.45, still beating the consensus of $1.34.
New Degreed Enrollment fell 40.5 percent in the quarter.
"During the third quarter, we continued to execute on our key initiatives to improve outcomes, enhance student protections, and elevate the educational experience throughout every touch point of the student lifecycle," said Co-CEO Greg Cappelli. "We are encouraged by the progress we are making in improving retention rates and continuing to shift the mix of our students toward higher degree level programs."
Looking ahead, Apollo sees fiscal 2011 net revs of $4.65 to $4.75 billion and adjusted operating income of $1.15 to $1.20 billion. The Street is looking for revs of 4.67 billion. For fiscal 2012, Apollo expects revs of $4.00 to $4.25 billion, versus the consensus of $4.14 billion.
Apollo is up just above 6 percent post-market.
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