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!

Corinthian Colleges CEO Discusses F4Q12 Results - Earnings Call Transcript

As we move through our discussion today, I'll review our fiscal year progress, enrollment trends, growth plan and regulatory issues. Bob will then review the fourth quarter operational and financial metrics in more detail and provide guidance for the first quarter of fiscal 2012.

I want to spend a few minutes now discussing some of our fiscal 2012 achievements starting with student outcomes. We continue to dedicate substantial resources over 700 employees and $50 million in fiscal 2012 alone to assist our graduates in finding employment. For students who graduated in calendar 2011, 68.1% or more than 33,000 graduates found employment in their field of study. This is up slightly from 67.6% the previous year and the current run rate for calendar 2012 grads is higher than in 2011.

To help our graduates find employment, in fiscal 2012 we signed 16 partnerships and 15 externship agreements with regional and national employers. In total, we signed 70 such agreement with large employers over the past few years. In addition, at the campus level, we have relationships with thousands of small to mid-sized employers.

Strong student completion remains an area of focus and in fiscal 2012, we kept completion essentially flat with the prior year. We also continued to monitor student achievement in our campus and take action as necessary to ensure that our standards are met. During the year, we completed the teach-out and closure of one campus and began to teach-out at two others which did not meet outcome standards. In addition, we closed seven programs which did not meet placement standards.

Every year, we conduct a survey of employee satisfaction and this year 86% of our workforce responded to the survey. Given a difficult year of cost cuts and layoffs we're pleased that overall employee satisfaction moved up slightly compared with the previous year. Employee turnover continued to improve as well, dropping from 29.5% in fiscal 2011 to 25.7% in fiscal 2012. In addition, Corinthian was recognized as a national top workplace in a survey of over 500,000 employees in companies across the US. The survey was jointly sponsored by 30 major newspapers.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,039.49 +60.36 0.36%
S&P 500 1,992.37 +5.86 0.30%
NASDAQ 4,532.1040 +5.6220 0.12%

Brokerage Partners

Rates from Bankrate.com

  • 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