DeVry, Inc. (
DV) recently announced fiscal first-quarter earnings of 48 cents per share, exceeding the consensus estimate by 9% and improving on the year-prior total. Revenues jumped 21.3% year-over-year to $303.7 million.
Company Description
DeVry is the holding company for DeVry University, Ross University, Chamberlain College of Nursing and Becker Professional Review.
DeVry University provides rigorous academic preparation for careers in technology, business and management and delivers undergraduate, graduate and life long learning programs.
Ross University provides educational programs for general medical and veterinary practice.
Chamberlain College of Nursing provides quality and innovative undergraduate health care education programs.
Becker Professional Review provides preparatory coursework for professional certification exams such as the certified public accountant (CPA), certified management accountant (CMA) and chartered financial analyst (CFA).
Strong Quarterly Results
The company recently announced fiscal first-quarter earnings of 48 cents per share, exceeding the consensus estimate by 9% and improving on the year-prior total. Revenues jumped 21.3% year-over-year to $303.7 million.
The company stated that its strong results demonstrate that it is increasing enrollment through improved marketing and recruiting as well as diversifying its offerings with the acquisition of U.S. Education acquisition, the parent organization of Apollo College and Western Career College. The purchase was completed in mid-September for $290 million in cash.
DeVry's President and Chief Executive Officer Daniel Hamburger said, ?we continue to show sustained growth and believe that even in tough economic times, our diversified portfolio positions us well to achieve our long term growth goals and to maximize shareholder value."
Higher Estimates
Analysts are calling for earnings of $2.19 per share for the year ending June 2009, an increase from last month's $2.17. The current consensus forecast translates into fiscal year-over-year growth of 23%.
Rewarding Shareholders with Income in Addition to Offering Solid Growth
DeVry is paying an annual dividend of 12 cents, which translates into a dividend yield of 0.2%. DeVry yield is competitive within its industry as most of its peers pay no income.
