Apollo Group, Inc. Updates Enrollment and Business Outlook and Announces Timing of Second Quarter 2012 Earnings Release
February 28 2012 - 8:00AM
Business Wire
Apollo Group, Inc. (NASDAQ: APOL) (“Apollo Group,” “Apollo” or
the “Company”) today provided details on new degreed enrollment and
the fiscal 2012 outlook in anticipation of its participation at the
Robert W. Baird Business Solutions Conference on Wednesday,
February 29, 2012. In addition, the Company announced details for
its fiscal 2012 second quarter conference call.
New Degreed Enrollment and Business
Outlook Update
The Company currently anticipates new degreed enrollment for the
second quarter ending February 29, 2012, will reflect approximately
flat to low-single-digit growth year-over-year on a percentage
basis, as compared to previous expectations of growth similar to
first quarter of fiscal 2012, which was approximately 13 percent.
Adjusted to exclude the impact of an extra day in the second
quarter of fiscal 2012, new degreed enrollment for the quarter is
expected to decrease year-over-year in the low to mid-single
digits, as compared to previous expectations of an increase in the
mid-single digits. Management believes new degreed enrollment has
been adversely impacted by a number of factors, including the
improving labor market, the competitive environment, and changes in
marketing channels to better identify potential students more
likely to succeed at University of Phoenix.
The Company anticipates consolidated net revenue for fiscal year
2012 will be $4.1 to $4.3 billion, consistent with the previously
provided outlook. The anticipated operating profit range for fiscal
2012 has been revised to $625 to $725 million, excluding the impact
of special items, from the previous outlook of $655 to $750
million.
“While we expect new degreed enrollment to continue to fluctuate
for the remainder of this year, we are encouraged by the favorable
impact of improved retention and productivity gains during our
second quarter,” said Apollo Group Co-Chief Executive Officer Chas
Edelstein. “In addition, we continue to identify opportunities to
be more efficient and improve profitability over time.”
Apollo Group Co-Chief Executive Officer and Apollo Global
Chairman Greg Cappelli added, “As we begin to emerge from a period
of transition, which continues to be impacted by the volatility in
our industry, we believe our investments to differentiate the
University of Phoenix will allow us to continue to provide our
students with a high quality education, as well as position us for
long-term growth.”
Fiscal 2012 Second Quarter Conference
Call Information
The Company will report its fiscal 2012 second quarter results
after the market close on Monday, March 26, 2012, and will host a
conference call at 2:00 p.m. MT (5:00 p.m. ET) the same day.
Participating from Apollo Group, Inc. will be: Chas Edelstein,
Co-Chief Executive Officer; Greg Cappelli, Co-Chief Executive
Officer and Chairman, Apollo Global; and Brian Swartz, Senior Vice
President and Chief Financial Officer.
Dial-In
Numbers:877-292-6888 (Domestic)973-200-3381
(International)Conference ID: 56164637
Please dial in at least five minutes prior to the start of the
call. Journalists are invited to listen only. At the conclusion of
the call, journalists who wish to ask questions should call the
media hotline at (602) 254-0086.
Webcast and
Replay:Investors, journalists and the general public may
access a live webcast of this event by visiting the Apollo Group,
Inc. website at: www.apollogrp.edu. A webcast replay will be
available approximately one hour following the conclusion of the
call at the same link.
Telephone Replay:A telephone
replay will be available approximately two hours following the
conclusion of the call by dialing:855-859-2056
(Domestic)404-537-3406 (International)Conference ID:
56164637(Available until April 10, 2012)
About Apollo Group, Inc.
Apollo Group, Inc. is one of the world's largest private
education providers and has been in the education business for more
than 35 years. The Company offers innovative and distinctive
educational programs and services both online and on-campus at the
undergraduate, master’s and doctoral levels through its
subsidiaries: University of Phoenix, Apollo Global, Institute for
Professional Development and College for Financial Planning. The
Company's programs and services are provided in 40 states and the
District of Columbia, Puerto Rico, Latin America, and Europe, as
well as online throughout the world.
For more information about Apollo Group, Inc. and its
subsidiaries, call (800) 990-APOL or visit the Company’s website at
www.apollogrp.edu.
Forward-Looking Statements Safe
Harbor
Statements about Apollo Group and its business in this release
which are not statements of historical fact, including statements
regarding Apollo Group's future strategy and plans and commentary
regarding future results of operations and prospects, are
forward-looking statements, and are subject to the Safe Harbor
provisions created by the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on current
information and expectations and involve a number of risks and
uncertainties. Actual plans implemented and actual results achieved
may differ materially from those set forth in or implied by such
statements due to various factors, including without limitation (i)
changes in the overall U.S. or global economy, (ii) the impact of
increased competition from traditional public universities and
proprietary educational institutions (iii) changes in enrollment or
student mix, (iv) the impact of the Company’s initiatives to
improve the student experience, (v) changes in law or regulation
affecting the Company's eligibility to participate in or the manner
in which it participates in U.S. federal student financial aid
programs, and (vi) changes in the Company's business necessary to
remain in compliance with existing, new, or amended U.S. federal
student financial aid program regulations, including the so-called
90/10 Rule and the limitations on cohort default rates, and to
remain in compliance with the accrediting criteria of the relevant
accrediting bodies. For a discussion of the various factors that
may cause actual plans implemented and actual results achieved to
differ materially from those set forth in the forward-looking
statements, please refer to the risk factors and other disclosures
contained in Apollo Group's Form 10-K for fiscal year 2011 and
subsequent Forms 10-Q, and other filings with the Securities and
Exchange Commission, all of which are available on the Company's
website at www.apollogrp.edu.
Apollo Education Group, Inc. (NASDAQ:APOL)
Historical Stock Chart
From Apr 2024 to May 2024
Apollo Education Group, Inc. (NASDAQ:APOL)
Historical Stock Chart
From May 2023 to May 2024