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| Flickr Group: University of Phoenix (Apollo Group) (Photo credit: labanex) |
Parent Apollo Group still makes billions annually.
http://www.investopedia.com/stock-analysis/2012/University-Of-Phoenix-Still-Resetting-APOL-DV-ESI-STRA0330.aspx#axzz1u5jnSH28
News Release
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| Apollo Group, Inc. Reports Fiscal Year 2012 Second Quarter Results |
PHOENIX--( BUSINESS WIRE)--Mar. 26, 2012-- Apollo Group, Inc. ( NASDAQ: APOL) (“Apollo Group,” “Apollo” or the “Company”) today reported financial results for the three and six months ended February 29, 2012.
Second Quarter 2012 Highlights
- Net revenue of $969.6 million, with net income attributable to Apollo of $63.9 million
- Earnings per share attributable to Apollo, of $0.51 per share, or $0.58 per share excluding a charge related to the Company’s real estate rationalization plan
- University of Phoenix New Degreed Enrollment up 1.0%, compared to prior year period, with Total Degreed Enrollment of 355,800
- Surpassed graduation milestone of 700,000 University of Phoenix Alumni
- Opened John Sperling Center for Educational Innovation featuring the new prototype Classroom without Boundaries, designed to foster student engagement
“Empowering our students to achieve their desired academic and life outcomes is our highest priority,” said Apollo Group Co- Chief Executive Officer and Apollo Global Chairman Greg Cappelli. “We are building on our mission to provide world class education, as well as connecting education to careers, in order to further differentiate University of Phoenix. We are committed to leading education into the future.”
Apollo Group Co-Chief Executive Officer Chas Edelstein added, “We are working to continually improve our services to students to enhance their educational experience and outcomes. As we pursue opportunities for increased operating efficiency, our efforts to optimize allow us to invest in innovation and create new and better ways to reach adult learners, while keeping education affordable and accessible and delivering the best possible experience to our students.”
Unaudited Second Quarter of Fiscal Year 2012 Results of Operations
Consolidated net revenue for the second quarter of fiscal year 2012 totaled $969.6 million, which represents a 7.5% decrease compared to the second quarter of fiscal year 2011. The decrease is the result of an 8.0% decrease in University of Phoenix net revenue, due principally to lower University of Phoenix enrollment, partially offset by selective tuition price and other fee changes. For the quarter,University of Phoenix Degreed Enrollment decreased 12.2% to 355,800, largely due to the decrease in New Degreed Enrollment during fiscal year 2011. The Company believes the decrease in 2011 New Degreed Enrollment was primarily the result of a number of important changes and initiatives implemented in recent years to more effectively support students and enhance their educational outcomes. AlthoughUniversity of Phoenix New Degreed Enrollment increased 1.0% in the second quarter of fiscal year 2012 compared to the second quarter of fiscal year 2011, we believe it has been impacted by changes in marketing content and channels to better identify potential students more likely to succeed at University of Phoenix, by changes in economic conditions and, in particular, an improving U.S. labor market, as well as by a continuing robust competitive environment.
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