This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

DeVry Inc. Announces Second-Quarter 2013 Results

DeVry’s results reflect the progress of its performance improvement plan. The plan is focused on aligning its cost structure to enrollment levels; regaining enrollment growth momentum; and making targeted investments to drive growth. DeVry now expects to realize at least $80 million in cost reductions, up from the $60 million previously projected for the fiscal year.

“We made solid progress on our performance improvement plan at Carrington Colleges Group, achieving growth in both new and total students in the quarter,” said Daniel Hamburger, DeVry’s president and chief executive officer. “While the pace of recovery in new undergraduate student enrollment at DeVry University is slower than we would like, we are encouraged by the improvement from November to January sessions. Overall, DeVry’s focus on quality and diversification is helping us as we work through the cyclical weakness.”

Organizational Highlights

Business, Technology and Management Segment

DeVry University

For the November 2012 session at DeVry University new undergraduate enrollments decreased 15.5 percent to 5,482 compared to 6,488 the previous year. Total undergraduate students decreased 17.6 percent to 49,515 versus 60,103 for the session a year ago. In addition to overall cyclical weakness across higher education, adjustments following recent workforce reductions combined with the impacts of Hurricane Sandy affected November enrollment results. The rate of decline in new student enrollment narrowed in the January session. January 2013 new undergraduate enrollments decreased 4.7 percent to 5,330 compared to 5,593 the previous year. Total undergraduate students decreased 14.9 percent to 53,138 versus 62,435 for the January session a year ago.

At the graduate level, including Keller Graduate School of Management, total coursetakers in the November session decreased 16.0 percent to 19,540 versus 23,264 for the same session a year ago. For the January session, total graduate coursetakers decreased 12.1 percent to 21,131 versus 24,029 for the same session a year ago.

2 of 7

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

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