This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Ambassadors Group, Inc. Reports Results For The Third Quarter Of 2010 And An Increase In 2011 Enrolled Revenue

SPOKANE, Wash., Oct. 20, 2010 (GLOBE NEWSWIRE) -- Ambassadors Group, Inc. (Nasdaq:EPAX), a leading provider of educational travel experiences and online education research materials, announced $0.77 fully diluted per share earnings for the nine months ended September 30, 2010, a 44 percent decline over $1.37 fully diluted per share earnings for the same period one year ago. Net income for the nine months ended September 30, 2010 was $14.8 million, compared to $26.4 million for the same period in 2009. Delegates traveled declined 22 percent, resulting in a $40 million reduction in gross receipts year-over-year. Gross margin as a percentage of gross receipts was 41 percent during both the nine months ended September 30, 2010 and 2009. Comparing the third quarters ended September 30, 2010 and 2009, fully diluted per share earnings decreased 42 percent to $0.37 in 2010 from $0.64 in 2009, and net income decreased 43 percent to $7.1 million in 2010 from $12.5 million in 2009.

"While we are disappointed in our financial results for 2010, we are encouraged by our progress for 2011," stated Jeff Thomas, president and chief executive officer of Ambassadors Group, Inc. "As of October 17, 2010, our consolidated enrolled revenue for 2011 showed a 7 percent year over year improvement, compared to the same time last year. Our core program line, Student Ambassador Programs, posted an 11 percent improvement in both enrolled participants and revenue. We believe this trend is a result of our concentrated marketing and sales efforts.

The resiliency of the Student Ambassador Program line is also visible in the 2010 financial results, specifically in maintaining a 41 gross margin percent in the midst of a 22 percent decline in delegates traveled. The reduced gross receipts coupled with an increase in operating expenses resulted in operating income of $20.6 million, a 48 percent decrease from last year. In reviewing operating expenses, the majority of our sales and marketing expenses in Q3, and of course Q4, are for 2011 revenue. In addition, we are still on track to close our print and production facility by the end of the year, yet the financial benefits will not be gained until 2011.

1 of 9

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs