This is the first of many posts about private-for-profit educational institutions and their strategic moves. Strayer a private-for-profit organization recently released their financial results for the past three months—the highlights are listed below:
- Revenues for the three months ended June 30, 2006 increased 19% to $65.6 million, compared to $55.2 million for the same period in 2005, due to increased enrollment and a 5% tuition increase which commenced in January 2006.
- Income from operations was $21.5 million compared to $19.5 million for the same period in 2005, an increase of 10%.
- Net income was $14.0 million compared to $12.5 million for the same period in 2005, an increase of 12%.
Enrollment at Strayer University for the 2006 summer term increased 15% to 23,932 students compared to 20,757 for the same term in 2005. For the 2006 summer term, Strayer University’s rate of growth of new students was 15%, and its rate of growth of continuing students was also 15%. Out-of-area online students increased 24% while students taking 100% of their classes at Strayer University Online (including campus based students) increased 21%. The total number of students taking any courses online (including students at brick and mortar campuses taking at least one online course) in the 2006 summer term increased 20% to 17,015.