Apollo’s earnings: A nice lesson for shareholders

January 09th, 2008 | Category: Earnings Reports

Since the early 1970s, the Apollo Group (NASDAQ: APOL) has transformed the private education commerce. The company not only has a broad network of campuses called the University of Phoenix, but additionally a thriving online education system.

As seen with yesterday’s fiscal Q1 results, Apollo is continuing to grow at a nice clip. Net income increased 23% to $139.9 million, or $0.83 per share. Revenues were up 17% to $780.7 million.

Apollo got a boost from enrollments, which increased 11% to 325,000. But the company has additionally made

critical strides with student retention as well as the quality of the curriculum.

True, there are worries about the credit crunch. Just take a look at school loan provider Sallie Mae (NYSE: SLM), which plans to pull back somewhat. Yet, Apollo has anticipated some of that and has tried to reduce its reliance on private student lending.

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