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
TheStreet Open House

Apollo Group, Inc. Reports Fiscal 2012 Fourth Quarter And Year-End Results

The Company reported income from continuing operations attributable to Apollo Group for the three months ended August 31, 2012, of $52.6 million, or $0.46 per share (113.5 million weighted average diluted shares outstanding), compared to income from continuing operations attributable to Apollo Group of $189.7 million, or $1.38 per share (137.3 million weighted average diluted shares outstanding), for the three months ended August 31, 2011.

Results for the fourth quarter of fiscal year 2012 include restructuring and other charges of $9.4 million ($6.0 million net of tax and the portion attributable to noncontrolling interests) associated with a series of restructuring activities to reengineer business processes and refine the Company’s delivery structure. Results for the fourth quarter of fiscal year 2011 also contained special items, which are detailed in the reconciliation of GAAP financial information to non-GAAP financial information tables of this press release.

Excluding the special items noted above, income from continuing operations attributable to Apollo Group for the three months ended August 31, 2012, was $58.6 million, or $0.52 per share, compared to income from continuing operations attributable to Apollo Group of $140.7 million, or $1.02 per share, for the three months ended August 31, 2011. (See the reconciliation of GAAP financial information to non-GAAP financial information in the tables section of this press release.)

During the fourth quarter of fiscal year 2012, the Company completed the disposition of BPP Holdings Limited’s (“BPP”) subsidiary Mander Portman Woodward (“MPW”), a UK secondary education institution, for £54.8 million (equivalent to $85.3 million as of the date of sale). The Company recognized a gain on sale of $26.7 million, net of transaction costs, and has reported MPW’s operating results as discontinued operations in the Company’s Consolidated Statements of Income for all periods presented.

Operating Expenses

Instructional and student advisory increased $20.4 million, or 4.7%, to $455.6 million in the fourth quarter of fiscal year 2012 compared to the fourth quarter of fiscal year 2011. The expense increase was primarily related to the Company’s initiatives to more effectively support students and enhance their educational experience and outcomes, including investments in adaptive learning, curriculum development, the new learning and service platforms, and initiatives to connect education to careers. This was partially offset by a decrease in costs that are more variable in nature such as faculty and certain student advisory functions.

2 of 8

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 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

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