This Day On The Street
Continue to site
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

Strayer Education, Inc. Reports Third Quarter 2011 Revenues And Earnings; And Fall Term 2011 Enrollments

As previously announced, the Company entered into an amended and restated revolving credit and term loan agreement on April 4, 2011. This credit facility, which is secured by the assets of the Company, provides a $100.0 million revolving credit facility and a $100.0 million term loan facility with a maturity date of March 31, 2014. Proceeds from the term loan were used to pay off the $80 million outstanding at March 31, 2011 under the original revolving credit facility. At September 30, 2011, the Company had $100.0 million outstanding under its term loan and $5.0 million outstanding under its revolving credit facility.

During the nine months ended September 30, 2011, the Company invested $182.7 million to repurchase approximately 1,370,000 shares of stock at an average of $133.32 per share, as part of a previously announced stock repurchase authorization. During the nine months ended September 30, 2011, the Company paid regular, quarterly dividends of $37.2 million ($1.00 per share for each quarterly dividend).

For the third quarter 2011, bad debt expense as a percentage of revenues was 3.8% compared to 4.2% for the same period in 2010. Days sales outstanding was 14 days at the end of the third quarter of 2011, compared to 13 days at the end of the third quarter of 2010.

Student Enrollment

Enrollment at Strayer University for the 2011 fall term decreased 11% to 54,233 students compared to 60,711 students for the same term in 2010. Across the Strayer University campus and online system, continuing student enrollments decreased 9%, while new student enrollments decreased 15%. Global online students decreased 15%. Students taking 100% of their classes online (including campus based students) decreased 8%.

Student Enrollment






Campus Based Students:
New Campuses (32 in operation 3 years or less)
Classroom Students 2,387 2,704 13 %
Online Students 2,875 3,651 27 %
Total New Campus Based Students 5,262 6,355 21 %
Mature Campuses (60 in operation more than 3 years)
Classroom Students 22,949 19,112 -17 %
Online Students 26,369 23,550 -11 %
Total Mature Campus Based Students 49,318 42,662 -13 %
Total Campus Based Students 54,580 49,017 -10 %
Global Online Students 6,131 5,216 -15 %
Total University Enrollment 60,711 54,233 -11 %
Total Students Taking 100% of Courses Online 35,375 32,417 -8 %

New Campus Openings

The Company announced today that Strayer University successfully opened three new campuses for the fall academic term. Two campuses are located in Chicago, Illinois, a new market for Strayer University. The third campus is located in Dallas, Texas, its fourth campus in that market.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,819.74 +6.35 0.04%
S&P 500 2,090.97 +2.10 0.10%
NASDAQ 5,125.0650 +8.9220 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs