With the agenda for the call out of the way, let me begin with a review of our 2012 second quarter marketing and advertising results. Advertising expense decreased 2.9% in the second quarter of 2012 compared to the same prior year period, as we continued to rebalance our spending in an effort to generate efficiencies in our student enrollment process. The rebalanced advertising generated an increase in perspective student increase in the second quarter of 2012 compared to the same period in the prior year. However, the increased number of student increase converted to new students had a lower rate, resulting in a 9.5% decrease in new student enrollment in the second quarter of 2012 compared to the second quarter of 2011. As a result of the conversion rate decline, we have increased our efforts to better convey the value proposition of the investment in a career-based education for graduates of ITT Technical Institute via various communication campaigns directed towards individuals who have indicated an interest in pursuing their studies at our institution.For the fourth consecutive quarter, we experienced a more material year-over-year decline in new student enrollment in the criminal justice programs in the second quarter compared to new student enrollment in our other curricula, as a result of self-directed changes to program offerings at select campuses. The year-over-year decline in new student enrollment in the School of Criminal Justice during the 2012 second quarter represented approximately 85% of the year-over-year decline in new student enrollment in the second quarter of 2012.
ITT Educational Services Management Discusses Q2 2012 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.