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National American University Holdings, Inc. (the “Company”) (NASDAQ: NAUH), which through its wholly owned subsidiary operates National American University (“
NAU”), a regionally accredited, proprietary, multi-campus institution of higher learning, today reported unaudited financial results for its FY 2013 first quarter ended August 31, 2012.
Ronald L. Shape, Ed.D., Chief Executive Officer of the Company, commented, “We were pleased to achieve double-digit growth in enrollment and revenue in the summer 2012 term, which tends to be a seasonally weaker period. Despite the continued difficult climate in our industry, NAU’s enrollment increased 10.2% from the same period last year to 10,350 students. We continue to focus on our strategic goals for fiscal 2013, transitioning from geographic expansion to growing enrollment at our current locations, reducing expenditures to build efficiencies, and achieving greater economies of scale. We anticipate we will continue to see improvement over the next several quarters as the newer locations contribute to the Company’s top line growth.”
NAU currently owns one property and leases 37 physical properties in the states of Colorado, Indiana, Kansas, Minnesota, Missouri, Nebraska, New Mexico, Oklahoma, Oregon, South Dakota and Texas. Several sites operate as hybrid learning centers in strategic geographic locations. These centers utilize small physical facilities through which the university provides face-to-face support services as students participate in select, traditional classroom courses while completing their remaining coursework online.
Of the Company’s 37 campuses, the following sites are pending regulatory approvals:
Roueche Graduate Center in Austin, TX
10.2% Enrollment Increase
Total NAU student enrollment for the summer term of 2012 increased 10.2% to 10,350 students, up from 9,390 in the last summer term. Students enrolled in 89,363 credit hours compared to 81,175 credit hours in the summer term of last year. The current average age of NAU’s students is in the mid-30s, with those seeking undergraduate degrees remaining the highest portion of NAU’s student population.