Apollo Group, Inc. (NASDAQ: APOL) (“Apollo Group,” “Apollo” or the “Company”) today reported financial results for the three months and fiscal year ended August 31, 2012.
- Net revenue of $996.5 million for fourth quarter 2012 and $4.3 billion for fiscal year 2012
- Earnings per share attributable to Apollo for fourth quarter 2012 of $0.46 per share, or $0.52 per share excluding special items, and $3.22 per share, or $3.56 excluding special items, for fiscal year 2012
- University of Phoenix Degreed Enrollment at 328,400 and New Degreed Enrollment in the fourth quarter at 52,800
- Initiatives to reengineer business processes and refine the delivery structure, including a University of Phoenix ground location realignment, are expected to favorably impact annual operating expenses by at least $300 million by fiscal 2014
“This past year, we have made great strides in executing on our strategy to differentiate University of Phoenix, diversify Apollo Group, and refine our business processes and delivery structure to be more efficient and effective, while providing a world-class student experience,” said Apollo Group Chief Executive Officer and Apollo Global Chairman Greg Cappelli. “As we build the university of the future, our priority is to connect education to careers for our students, helping them achieve their desired academic and life outcomes.”
Unaudited Fourth Quarter Fiscal Year 2012 Results of Operations
Net revenue for the fourth quarter of fiscal year 2012 totaled $996.5 million, which represents an 11.0% decrease compared to the fourth quarter of fiscal year 2011. The decrease was due principally to lower University of Phoenix enrollment, partially offset by selective tuition price and other fee changes. For the quarter, University of Phoenix Degreed Enrollment decreased 13.8% to 328,400 and New Degreed Enrollment decreased 13.7% compared to the fourth quarter of fiscal year 2011.