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Strayer Education provides higher education for working adults, offering undergraduate and graduate degree programs in business administration, accounting, information technology, education, health care and public administration to approximately 46,000 working adult students at 71 campuses in 15 states and Washington, D.C. and worldwide via the Internet.
The company recently posted second-quarter earnings of $2.00 per share, topping the previous years $1.50 and exceeding the Zacks Consensus Estimate by 2%. Revenues jumped 29% year-over-year to $125.9 million thanks to a boost in enrollment and a 5% rise in tuition.
Summer enrollment was up 24% to 42,516 students, versus the year-prior 34,176 students.
The company stated that it will open 4 new campuses in preparation for the fall term. The 4 campuses, in addition to the 7 that opened earlier this year, will complete the Strayers planned 11 openings in 2009.
The solid summer enrollment figures led to Strayer forecasting a third-quarter earnings range of $1.14 to $1.16 per share.
In response, the Zacks Consensus Estimate for the third quarter shot up to $1.16 per share from last weeks $1.05.
For the current full year, the Zacks Consensus Estimate of $7.44 per share was increased from $7.27 over the past week.
For 2010, the Zacks Consensus Estimate stands at $9.16 per share, up from last weeks $8.88.
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