This Day On The Street
Continue to site
ADVERTISEMENT
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

DeVry Inc. Announces First-Quarter 2013 Results

DeVry Inc. (NYSE: DV), a global provider of educational services, today reported academic, operational and financial results for its fiscal 2013 first-quarter ended Sept. 30, 2012. DeVry also reported enrollment results at DeVry University, DeVry Medical International, Chamberlain College of Nursing, Carrington Colleges Group, DeVry Brasil, and graduate coursetakers at DeVry University/Keller Graduate School of Management.

Operational accomplishments this quarter included:

  • A reduction in total costs for the quarter of $27 million on a sequential basis
  • A 53 percent increase in new student enrollments at Chamberlain, resulting in more than 12,000 total students for the September session
  • An increase in new enrollments at Carrington of 33 percent versus prior year
  • An 8.4 percent increase in new students at DeVry Medical International
  • The completion of the Faculdade do Vale do Ipojuca (FAVIP) acquisition resulting in a total of more than 26,000 students in DeVry Brasil’s institutions

Selected financial data for the three months ended Sept. 30, 2012:

  • Revenues decreased 7.0 percent to $482.7 million
  • Net income decreased 44.4 percent to $32.0 million
  • Diluted earnings per share decreased 41.0 percent to $0.49
  • Operating cash flow of $164.1 million generated during the quarter
  • 1.1 million shares repurchased during the quarter

“We are off to a good start in achieving our top two priorities of realigning our costs and regaining enrollment growth,” said Daniel Hamburger, DeVry’s president and chief executive officer. “We are now on track to deliver cost savings of $60 million for fiscal 2013, and Carrington’s new student enrollments exceeded our expectations. These efforts, combined with the results from DeVry Medical International, Chamberlain and Becker, demonstrate that we are making solid progress on our performance improvement plan.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs