Strayer Education (STRA) Tops Q2 EPS by 12c; Enters Partnership with TeleTech Holdings

July 29, 2015 6:34 AM EDT
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Price: $78.34 -1.38%

EPS Growth %: -27.5%

Financial Fact:
Marketing: 25.39M

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Strayer Education (NASDAQ: STRA) reported Q2 EPS of $1.11, $0.12 better than the analyst estimate of $0.99. Revenue for the quarter came in at $109.8 million versus the consensus estimate of $108.11 million.

Student Enrollment

Total enrollments at Strayer University for the summer term 2015 increased 2% to 37,221 students compared to 36,403 students for the summer term 2014. New student enrollments increased by 4%, and continuing student enrollments increased by 2%.

Additional News:

TeleTech Holdings, Inc. (Nasdaq: TTEC) announced a partnership with Strayer Education, Inc., an education services company and owner of Strayer University, to pilot the Degrees@Work program with TeleTech's three Kentucky customer experience center locations. The new Degrees@Work program launched in May and gives employees of participating businesses access to debt-free and low-cost accredited associate's, bachelor's, or master's college degrees through Strayer University.

"This is a great benefit for our employees. They have the opportunity to take college courses that are almost entirely funded by TeleTech," said Kenneth Tuchman, chairman and chief executive officer of TeleTech. "We've heard from our employees that they want to further their education and now they can by participating in the Degrees@Work program. TeleTech will fund the majority of tuition costs per year for each employee, freeing them from the unnecessary burden of student loans and college debt."

TeleTech signs on as the second client with the Degrees@Work program through Strayer University, an accredited postsecondary institution with a more than 120-year history of educating working adult students at campus locations across the country and online. TeleTech anticipates a national rollout of the Degrees@Work program to more than 8,000 employees across the U.S. to follow the Kentucky pilot.

"We are proud to partner with an organization like TeleTech to help them attract and retain strong talent by offering employees this pathway to college without debt," said Karl McDonnell, chief executive officer of Strayer Education. "Degrees@Work will advance the careers of TeleTech's employees, enhance their skill sets, and accelerate skill development in critical job functions."

Courses will be tailored specifically to the training needs of TeleTech's employees and offered online with 24/7 access for employee flexibility around work schedules, as well as at Strayer's campus locations once the program is rolled out nationally. Customer experience center employees will have their training and work experience evaluated for transfer credit to accelerate completion of a degree program and optimize employee performance.

Early interest has been high with almost 10 percent of TeleTech employees enrolling at the three Kentucky customer experience center sites located in Paducah and Hopkinsville for the summer or fall term. TeleTech students began taking classes in the Degrees@Work program this month.

For earnings history and earnings-related data on Strayer Education (STRA) click here.

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