Jan. 27--DeVry Inc. reported a solid 20 percent increase in fiscal second-quarter earnings late Tuesday, as hard economic times continued to help fuel enrollment growth for the Oakbrook Terrace provider of educational services.

In the quarter ended Dec. 31, DeVry's net income was $42.9 million, or 59 cents a diluted share, up from the year-ago quarter's $35.8 million, or 49 cents a share.

Revenues, bolstered in part by a September acquisition, climbed 35 percent, to $369.6 million from $273.7 million.

The company's earnings, which continue a profit rebound that began to take hold at DeVry in fiscal 2007, were in line with analyst expectations.

"In these turbulent times, we are especially pleased to report these results, which were driven by enrollment gains in the fall" and by the company's focus on its academic program, said President and Chief Executive Officer Daniel Hamburger.

In fact, as Morningstar analyst Todd Young noted in a commentary last month, DeVry's burgeoning enrollment "is an indication of how education can be a defensive investment during weak economic times . during tough economic times, the population may turn to and stick with education as job opportunities become rare."

DeVry is one of the nation's leading for-profit education concerns, and it offers training in the fields of business, technology and health-care.

jpmiller@tribune.com

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