American Public Education (NASDAQ: APEI) reported Q4 EPS of $0.37, in-line with the analyst estimate of $0.37. Revenue for the quarter came in at $74.4 million versus the consensus estimate of $73.79 million.

Fourth Quarter Highlights:

• Consolidated revenue decreased 3% year-over-year to $74.4 million.
• Net income was $5.7 million, or $0.37 per diluted share, compared to net income of $9.1 million, or $0.55 per diluted share, in the fourth quarter of 2018.
• Net course registrations and net course registrations by new students at APUS increased by approximately 1% year-over-year.1
• APUS student enrollment decreased 1% to 81,000 students, compared to the prior year.2
• For the three months ended March 31, 2020 (Winter Term), new student enrollment at HCN increased approximately 31% year-over-year and total student enrollment decreased 9% year-over-year.

"Our recent value-creation study revealed several promising opportunities and further validated our belief that APEI's high ROI on student educational investment can drive sustained enrollment growth," said Angela Selden, chief executive officer of APEI. "Our unique value proposition is not widely known, making it one of higher education's best kept secrets. But we intend to change that."

Selden added, "This year we will begin implementing a fresh new marketing approach intended to maximize our potential to reach a wider audience of learners who will discover that our affordability is matched (or exceeded) only by the ability of APUS to provide a flexible, relevant, high value education from the moment they enroll and throughout their lives."

GUIDANCE:

American Public Education sees Q1 2020 EPS of $0.13-$0.18, versus the consensus of $0.28.

The following statements are based on American Public Education's current expectations. These statements are forward-looking and actual results may differ materially. The Company undertakes no obligation to update publicly any forward-looking statements for any reason unless required by law.

American Public Education anticipates the change in first quarter 2020 consolidated revenue to be between a 1% decline and a 3% increase compared to the prior year period. The Company expects diluted earnings per share to be between $0.13 and $0.18 in the first quarter of 2020.

American Public Education expects the following results from its subsidiaries in the first quarter of 2020:

• At APUS, net course registrations by new students are expected to be approximately flat and net course registrations are expected to increase by approximately 1% compared to the prior year period.
• At HCN, new student enrollment increased approximately 31% and total student enrollment decreased approximately 9% year-over-year for the three months ended March 31, 2020.

For earnings history and earnings-related data on American Public Education (APEI) click here.