American Public Reports 70 Pct Rise In 4Q Profit

CHARLES TOWN, W.Va. (AP) — American Public Education Inc., which runs online universities, said Tuesday its fourth-quarter net profit rose 70 percent on double-digit increases in course registrations.

Net profit in the quarter to Dec. 31 hit $5 million, or 27 cents per share, compared with $3 million, or 19 cents per share, in the same quarter a year earlier.

Revenue rose 48 percent to $31.5 million, from $21.2 million.

Analysts surveyed by Thomson Reuters expected earnings of 23 cents per share on revenue of $31 million.

Shares gained 29 cents to $36.50 in after-hours trading following the release of the earnings report, after earlier losing 10 cents in the regular session to close at $36.21.

Net course registrations of about 41,850 in the fourth quarter were up 50 percent from a year earlier.

For all of 2008, American Public earned $16.2 million, or 86 cents per share, up 85 percent from $8.8 million, or 64 cents per share, in 2007. Revenue increased 55 percent to $107.1 million, from $69.1 million in 2007.

The company said it expects its revenue for all of 2009 to be between $146 million and $150 million, with net income between $22.2 million, or $1.16 per share, and $22.8 million, or $1.20 per share.

American Public Education runs the American Military University and American Public University.