Higher Tuition, Enrollment Boost Strayer
From the Associated Press
Strayer Education of Arlington, a for-profit education provider, said its first-quarter profit grew 25 percent, to $23.5 million ($1.64 a share) from $18.8 million ($1.30) in the comparable period a year earlier, on increased tuition and enrollment. Revenue rose 21 percent, to $97.1 million.
The company said enrollment climbed 19 percent for the Strayer University spring term, while new student enrollments increased 28 percent across the campus and online system. Tuition edged up 5 percent starting in January.
Strayer said it expects second-quarter earnings to beat current analysts' estimates due to strong spring term enrollment growth. The for-profit education provider expects profit of $1.45 to $1.47 per share.
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