Corinthian Colleges and Career Education Corp Negotiate Plummeting Enrollment Numbers
February 03 2012 - 8:20AM
Marketwired
For profit education companies reported mixed results this earnings
season. Due in part to their reputation for being unable to place
alumni into the workforce, most for-profit schools have been
posting a decline in student enrollment in recent quarters.
For-profit educators are expected to face continued decline in
student numbers as they tighten admission standards to comply with
new education rules. Five Star Equities examines the outlook for
companies in the Education & Training Services Industry and
provides equity research on Corinthian Colleges, Inc. (NASDAQ:
COCO) and Career Education Corporation (NASDAQ: CECO). Access to
the full company reports can be found at:
www.fivestarequities.com/COCO
www.fivestarequities.com/CECO
A House committee approved a bill recently that would create an
independent commission to increase oversight of the for-profit
college industry amid allegations that some are taking advantage of
students. House Bill 308 calls for the commission to replace the
11-member panel (that includes six members from for-profit
schools), known as The State Board for Proprietary Education. Bill
308 would also strengthen the complaint process for students and
establish a student protection fund.
Last year, the U.S. Department of Education tightened financial
aid standards for for-profit schools in an attempt to improve
graduation rates.
Five Star Equities releases regular market updates on the
Education & Training Services industry so investors can stay
ahead of the crowd and make the best investment decisions to
maximize their returns. Take a few minutes to register with us free
at www.fivestarequities.com and get exclusive access to our
numerous stock reports and industry newsletters.
Earlier this week, shares of Corinthian Colleges skyrocketed
after the company announced that it returned to a profit in its
fiscal second quarter as it slashed expenses in the face of slowing
enrollment. Corinthian's October-December net income was $1.8
million, or 2 cents a share, compared with a net loss of $163.7
million, or $1.94 a share, a year ago. Corinthian cut its operating
expenses by about $150 million over the past 18 months to help
offset a decline in student enrollment, which fell almost 10
percent to 94,860 on Dec. 31, compared with 105,210 a year
earlier.
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