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Last Update: 07-Feb-13 08:18 ET
DeVry shares soar 18% following better than expected earnings
DeVry (DV $31.00 +4.88) reported second quarter earnings of $0.87 per share, excluding non-recurring items, $0.30 better than the Capital IQ consensus of $0.57, while revenues fell 3.6% year/year to $505.2 million versus the $496.6 mln consensus. For the November 2012 session at DeVry University new undergraduate enrollments decreased 15.5 percent to 5,482 compared to 6,488 the previous year. Total undergraduate students decreased 17.6 percent to 49,515 versus 60,103 for the session a year ago. At the graduate level, including Keller Graduate School of Management, total coursetakers in the November session decreased 16.0 percent to 19,540 versus 23,264 for the same session a year ago. For the January session, total graduate coursetakers decreased 12.1 percent to 21,131 versus 24,029 for the same session a year ago. In the January 2013 term for DeVry Medical International, new students increased 0.3 percent to 603 compared to 601 students for prior year session. Chamberlain's new student enrollment in the November session increased 13.5 percent to 2,121 students as compared to 1,868 in November 2011. Total student enrollment increased 15.3 percent to 12,247 students compared with 10,619 during the same period last year.
