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Strayer Education Management Discusses Q2 2012 Results - Earnings Call Transcript

For those of you that wish to listen to the conference via the Internet, please go to strayereducation.com, where the call will be archived for 90 days. If you are unable to listen to the call in real time, a replay will be available beginning today at 1 p.m. Eastern through Thursday, August 2. The replay is available at (855) 859-2056, conference ID, 39822252. Following Strayer's remarks, we will open the call for questions and answers.

I would like to remind everyone that today's press release contains, and certain information on this call may contain, statements that are forward-looking and are made pursuant to the Safe Harbor Provision of the Private Securities Litigation Reform Act. The statements are based on the company's current expectations and are subject to a number of uncertainties and risks that the company has identified in the paragraph on forward-looking statements at the end of its press release and that could cause the company's actual results to differ materially. Further information about these and other relevant uncertainties may be found in the company's annual report on Form 10-K and its other filings with the Securities and Exchange Commission. Copies of these filings and the full press release are available online and upon request from the company's Corporate Communications department, and now I'd like to turn the call over to Rob. Rob, please go ahead.

Robert S. Silberman

Thank you, Sonya, and good morning, ladies and gentlemen. As is our custom, I'd like to begin this morning with a brief overview of both our company and our business model for any listeners who are new to Strayer. I'll then ask Mark to report on our second quarter financial results and ask Karl to comment on our second quarter operational results, including our enrollment statistics for the summer academic term. Finally, I'd like to provide an update on our growth strategy, our business model and our earnings outlook for the third quarter of 2012.

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