National American University Holdings, Inc. (the “Company”) (NASDAQ: NAUH),
which through its wholly owned subsidiary operates National American University (“
”), a regionally accredited, proprietary, multi-campus institution of higher learning, today reported unaudited financial results for its FY 2012 fourth quarter and audited results for its fiscal year ended May 31, 2012.
Ronald L. Shape, Ed.D., Chief Executive Officer of the Company, commented, “We began to realize the benefits of our expansion and development initiatives during the fiscal 2012 fourth quarter and are very pleased with the top-line growth and profitability for the period. NAU increased its enrollment by 12.0% over the same period last year to more than 11,000 students, which is a record for us. We continue to believe that our consistent enrollment growth is a direct result of our geographic expansion efforts, as well as improvements in the admissions area during the fiscal 2012 fourth quarter. To support all of these initiatives through the course of FY 2012, we incurred higher SG&A expenses to hire the necessary administrative and admissions staff to support our continued growth, as well as increased marketing costs to increase awareness of our new physical locations. Now that we have entered fiscal year 2013, the Company has shifted its focus from geographic expansion to enrollment growth at its existing physical locations. We also are starting to gain efficiencies as a result of shifting our focus from horizontal to vertical growth.”
NAU currently owns one property and leases 35 physical properties in the states of Colorado, Indiana, Kansas, Minnesota, Missouri, Nebraska, New Jersey, New Mexico, Oklahoma, Oregon, South Dakota and Texas. NAU’S online academic and degree programs continue to grow. In addition, NAU continues to operate additional hybrid locations which utilize small physical facilities in strategic geographic areas, allowing its students to meet face-to-face with staff for assistance on their educational choices and related services while completing the majority of the coursework online.