DeVry Inc. Earnings Cheat Sheet: Profit Increases Again

S&P 500 (NYSE:SPY) component DeVry Inc. (NYSE:DV) reported its results for the fourth quarter. Through its wholly-owned subsidiaries, DeVry, Inc. owns and operates DeVry University, Chamberlain College of Nursing, U.S. Education, Ross University, Becker Professional Education and Advanced Academics.

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DeVry Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for DeVry Inc. rose to $75.2 million ($1.08 per share) vs. $71.6 million (99 cents per share) in the same quarter a year earlier. This marks a rise of 5.1% from the year earlier quarter.

Revenue: Rose 7.9% to $546.8 million from the year earlier quarter.

Actual vs. Wall St. Expectations: DV beat the mean analyst estimate of $1.03 per share. Analysts were expecting revenue of $545.7 million.

Quoting Management: “We were not satisfied with our short-term enrollment performance this quarter as total students declined to around 119,000, but we believe in our long-term opportunities for growth,” said Daniel Hamburger, DeVry’s president and chief executive officer. “Recently we have been experiencing a challenging external environment characterized by a prolonged tough economy and new regulatory changes. We believe that by remaining focused on our strategy of quality and diversification, we will return to a long-term growth trend.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the third quarter, net income rose 14.5% and in the second quarter, the figure rose 22.4%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 9 cents in the third quarter, by 6 cents in the second quarter, and by 8 cents in the first quarter.

Revenue has risen the past four quarters. Revenue increased 11.6% to $562.7 million in the third quarter. The figure rose 16.6% in the second quarter from the year earlier and climbed 21% in the first quarter from the year-ago quarter.

Competitors to Watch: Apollo Group, Inc. (NASDAQ:APOL), Career Education Corp. (NASDAQ:CECO), American Public Education, Inc. (NASDAQ:APEI), National American Univ. Hldgs., Inc. (NASDAQ:NAUH), Corinthian Colleges, Inc. (NASDAQ:COCO), Grand Canyon Education Inc (NASDAQ:LOPE), Bridgepoint Education, Inc. (NYSE:BPI), Education Management Corp (NASDAQ:EDMC), Strayer Education, Inc. (NASDAQ:STRA), and The Washington Post Co. (NYSE:WPO).

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(Source: Xignite Financials)