Strayer Education, Inc. Q4 2009 Earnings Call Transcript – 2/11/10
Strayer Education, Inc. is an education service company whose primary asset is Strayer University, a 54,000-student, 74-campus, post-secondary education institution, which offers Bachelor’s, Master’s, and Associate’s degrees in business administration, accounting, computer science, public administration, and education. Strayer students are working adults who are returning to school to further their careers. Our revenue comes from tuition payments and associated fees. Approximately 70% of that revenue comes to us from federally insured Title 4 loans issued to our students.
Our expenses at Strayer Education include the costs of our professors, our admissions and administrative staff, marketing expenses, and facilities and supplies costs. We serve students in 15 States through physical campuses as well as in all 50 states and over 30 foreign countries through our online courses. Strayer University is accredited by the Middle States Association of Colleges and Schools.
- Revenues for the three months ended December 31, 2009 increased 29% to $147.2 million compared to $114.3 million for the same period in ‘08
- Income from operations was $52.4 million compared to $39.4 million for the same period in ‘08, an increase of 33%.
- Revenues for the year ended December 31, 2009 increased 29% to $512.0 million.
- Net income was $105.1 million compared to $80.8 million in ‘08, an increase of 30%.