This Day On The Street
Continue to site
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 Announces Fourth-Quarter And Full-Year 2013 Results

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

Academic and operational accomplishments included:
  • Carrington College California received reaccreditation from the Western Association of Schools and Colleges (WASC) for a six year period
  • The percentage of DeVry University graduates who were actively seeking employment and had careers in their field within 6 months of graduation increased to 90 percent in calendar 2012
  • Chamberlain College of Nursing graduates achieved an average of 92 percent NCLEX pass rate in calendar 2012
  • DeVry Brasil completed the acquisition of Faculdade Differential Integral on July 1, 2013
  • DeVry decided to divest Advanced Academics Inc.
  • DeVry achieved more than $100 million in savings and value creation during fiscal 2013

Selected financial data for the three months ended June 30, 2013:
  • Revenues decreased 4.4 percent to $480 million
  • Reported a net loss of $32 million, compared to net income of $8 million last year; net income from continuing operations and excluding discrete items was $34 million, flat to prior year
  • Reported diluted per share loss of $0.51, compared to earnings per share of $0.12 last year; earnings per share from continuing operations and excluding discrete items was $0.54, up 3.8 percent

Selected financial data for the 12 months ended June 30, 2013:
  • Revenues decreased 5.2 percent to $1,964 million
  • Reported net income decreased 24.6 percent to $107 million; net income from continuing operations and excluding discrete items was $185 million, down 18.5 percent
  • Reported diluted earnings per share decreased 21.1 percent to $1.65; earnings per share from continuing operations and excluding discrete items was $2.86, down 14.6 percent
  • Operating cash flow of $263.9 million was down from $277.4 million last year
  • Repurchased approximately 2.2 million shares of common stock at an average price of $24.47

“We are responding to a challenging environment by executing a turnaround plan at DeVry University and Carrington including aligning our cost structure, regaining enrollment growth and making targeted investments to drive future growth,” said Daniel Hamburger, DeVry’s president and chief executive officer. “Our formula of quality plus diversification equals growth is helping us as we work through the cyclical weakness and we remain confident in the opportunities for long-term growth in career-oriented education.”

1 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
Only $9.95
14-Days Free
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


Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs