Career Education - 500 Beiträge pro Seite

[R-BgO]

Second quarter 2010 revenue increased 21%, operating income increased 157%

Second quarter earnings per share from continuing operations increased to $0.81 from $0.27

Career Education Corporation (NASDAQ: CECO) today reported total revenue of $527.9 million, and net income of $64.3 million, or $0.80 per diluted share, for the second quarter of 2010 compared to total revenue of $437.7 million and net income of $6.5 million, or $0.07 per diluted share, for the second quarter of 2009.

"I am pleased with our solid performance in the second quarter, including our continued investment in quality-driven initiatives such as the expansion of student advisory resources," said Gary E. McCullough, President and Chief Executive Officer. "During this period of potential change in our sector, Career Education employees have remained focused on ensuring quality student experiences and outcomes so that we may achieve our long-term goals."

CONSOLIDATED RESULTS

Three Months Ended June 30, 2010

• Total revenue was $527.9 million for the second quarter of 2010, a 20.6 percent increase from $437.7 million for the second quarter of 2009.

• Operating income was $95.4 million for the second quarter of 2010, versus operating income of $37.1 million for the second quarter of 2009. The operating margin was 18.1 percent for the second quarter of 2010, as compared to an operating margin of 8.5 percent for the second quarter of 2009.

• Income from continuing operations for the three months ended June 30, 2010, was $65.2 million, or $0.81 per diluted share, compared to $23.6 million, or $0.27 per diluted share, for the three months ended June 30, 2009.

Six Months Ended June 30, 2010

• Total revenue was $1,057.6 million for the six months ended June 30, 2010, compared to $870.5 million for the six months ended June 30, 2009.

• Operating income increased to $183.5 million for the six months ended June 30, 2010, from $88.3 million for the six months ended June 30, 2009. The operating margin increased to 17.3 percent for the six months ended June 30, 2010, from 10.1 percent for the six months ended June 30, 2009. Operating income for the six months ended June 30, 2010 included a $3.7 million pretax lease termination charge related to our existing real estate space for our campus support center, as well as pretax expense of $8.1 million for the increase in the allowance for doubtful accounts associated with certain extended payment plan programs.

• Income from continuing operations for the six months ended June 30, 2010, was $121.1 million, or $1.48 per diluted share, compared to $57.5 million, or $0.64 per diluted share, for the six months ended June 30, 2009.

CONSOLIDATED CASH FLOWS AND FINANCIAL POSITION

Cash Flows

• Cash provided by operating activities was $47.9 million for the six months ended June 30, 2010, compared to cash provided by operating activities of $51.7 million for the six months ended June 30, 2009. Included in the year to date 2010 operating cash flow is a $30 million increase in working capital due to the timing of Title IV receipts. This timing will reverse in the third quarter 2010.

• Capital expenditures increased to $43.2 million for the six months ended June 30, 2010, from $30.1 million for the six months ended June 30, 2009. Capital expenditures represented 4.1 percent of total revenue from continuing and discontinued operations for the six months ended June 30, 2010 and 3.4 percent for the six months ended June 30, 2009.

Financial Position

• As of June 30, 2010 and December 31, 2009, cash and cash equivalents and short-term investments totaled $312.7 million and $484.9 million, respectively.

• Days sales outstanding (DSO) were 17 days as of June 30, 2010, compared to 16 days as of June 30, 2009.

Stock Repurchase Program

During the three months ended June 30, 2010, the Company repurchased approximately 2.1 million shares of its common stock for approximately $65.3 million at an average price of $31.57 per share. During the six months ended June 30, 2010, the Company repurchased approximately 5.4 million shares of its common stock for approximately $155.0 million at an average price of $28.56 per share.

As of June 30, 2010, approximately $290.5 million was available under the Company's authorized stock repurchase program to repurchase outstanding shares of its common stock. Stock repurchases under this program may be made on the open market or in privately negotiated transactions from time to time, depending on various factors, including market conditions and corporate and regulatory requirements.

[betterthantherest]

Antwort auf Beitrag Nr.: 40.013.288 von R-BgO am 19.08.10 14:50:02

Nachdem Career Education vor 5, 6 Jahren noch in ernsten Schwierigkeiten steckte, gelang es dem Unternehmen sich in den letzten Jahren doch sehr positiv zu entwickelt.

http://financials.morningstar.com/income-statement/is.html?t…

Der aktuelle Kurs birgt ein nicht unerhebliches Nachholpotenzial, zudem die Anzahl der Aktien ständig reduziert wird. Ein höheres Kursniveau sollte eigentlich nur eine Frage der Zeit sein.

[steven_trader]

ja, sieht schon irgendwie komisch aus. die earnings per share sind so hoch wie noch nie, mit stetig steigendem trend. aber der aktienkurs verharrt auf einem niveau wie vor neun jahren. in dieser zeit wurde der gewinn je aktie aber um fast das fünffache erhöht.
welche negativen news werden hier eingepreist? ich habe keine ahnung, aber irgend etwas negatives muss es sein, sonst wäre der aktienkurs höher

[R-BgO]

Antwort auf Beitrag Nr.: 40.013.797 von betterthantherest am 19.08.10 15:42:42

sorry, aber die Idee habe ich mir von Dir abgeguckt; noch gar keine große Analyse gemacht, sondern stattdessen einfach mal ein paar gekauft und beschlossen, den Dingen ab jetzt genauer zuzusehen.

[betterthantherest]

Antwort auf Beitrag Nr.: 40.016.939 von R-BgO am 19.08.10 21:51:33

Nur abgucken solltest du lieber nicht. Ich könnte mich ja getäuscht, oder irgendetwas falsch interpretiert haben.

Eine kritische Analyse schadet da nie.

Bei Career Education log man seinerzeit, was die Erfolgsaussichten der Studenten anging. Dies trieb deren Zahl in die Höhe, was wiederum die Gewinne sprudeln ließ. Als der Schwindel aufflog, brach das Geschäft regelrecht ein. Inzwischen wurden jedoch zahlreiche Maßnahmen getroffen, um das Vertrauen der Studenten, wie auch der Anleger zurück zu gewinnen. Die Zahlen selbst, würden schon heute höhere Kurse rechtfertigen. Einzig am nötigen Vertrauen der Anleger mangelt es noch.

[R-BgO]

Antwort auf Beitrag Nr.: 40.019.206 von betterthantherest am 20.08.10 11:04:58

Ist schon klar, ich fange ja auch nicht mit viel Geld an; habe über mich selbst gelernt, dass ich immer erst mal was im Feuer haben muss, um mich zu bewegen.

Mir ist bei Durchsicht der Nachrichten noch nicht ganz klar geworden, wo der große Gewinnsprung in diesem Jahr herkommt. Sowas wie eine Akquisition habe ich nicht gesehen...

[R-BgO]

Online learning platform My Unique Student Learning Experience (M.U.S.E.™) allows post-secondary students to customize their learning experience

Career Education Corporation (NASDAQ: CECO) (CEC), an international provider of post-secondary education, was named to the 2010 InformationWeek 500 annual listing of the nation's most innovative users of business technology. InformationWeek recognized CEC for M.U.S.E.™, or My Unique Student Experience, a visionary web-based delivery system that allows students to manage course content based on their optimal learning style - auditory, visual or experiential.

M.U.S.E, which serves several CEC online campuses and programs, is an interactive learning platform that presents supplemental course material through 11 learning options, such as "Try It," "Read It," and "Watch It."

For example, auditory learners may prefer the "Hear It" option, which offers audio files and interviews with industry experts, while visual learners can "Watch It" with videos and flash presentations. Experiential learners may "Try It" using dynamic applications of course material, such as interactive tutorials. This approach contrasts with most online and traditional education programs, in which the sequence, topics, style, order and depth of material is pre-determined by faculty or the course structure.

"Very few university online courses offer supplemental materials in a comprehensive, interactive platform like M.U.S.E," said Deb Lenart, Senior Vice President. "This delivery system puts students in the driver's seat and allows them to choose how and when they will learn. Our education technology team and faculty work tirelessly to meet the needs of adult learners and ensure our students are given tools and resources to realize academic success. We are honored that InformationWeek recognizes our contributions to improve the quality and delivery of online education."

Approximately 46,000 students have experienced the M.U.S.E. platform since its launch in fall 2009. Several CEC institutions offer M.U.S.E., including American InterContinental University, Colorado Technical University, Missouri College, Le Cordon Bleu Schools North America and the International Academy of Design&Technology. In June, the Career College Association recognized M.U.S.E. with the 2010 "Innovative Best Practice/New Program Award."

"For 22 years, the InformationWeek 500 has honored the most innovative users of business technology," said editor-in-chief of InformationWeek, Rob Preston. "As we start to emerge from the worst recession in decades, the IT focus is now on driving growth - new sources of revenue, new relationships with customers, even new business models. This year's ranking placed special emphasis on those companies and business technology executives leading that charge."

This is the second consecutive year CEC made the InformationWeek 500 list. The company ranked 110th last year, garnering recognition for its "campus-in-a-pocket" Mobile Learning (M-Learning) program. InformationWeek identifies and honors the nation's most innovative users of information technology with its annual 500 listing and also tracks the technology, strategies, investments and administrative practices of America's best-known companies. Top winners have included: CME Group, Conway, National Semiconductor, Kimberly-Clark, Hilton Hotels and Unum. The InformationWeek 500 rankings are unique among corporate rankings, as it spotlights the power of innovation in information technology, rather than simply identifying the biggest IT spenders.

Additional details on the InformationWeek 500 can be found online at www.informationweek.com/iw500/.

[R-BgO]

18.02.2011 01:49
Career Education Corporation Reports Results for Fourth Quarter and Full Year 2010



Career Education Corporation (NASDAQ: CECO) today reported total revenue of $542.9 million, and net income of $12.1 million, or $0.15 per diluted share, for the fourth quarter of 2010 compared to total revenue of $507.5 million and net income of $30.7 million, or $0.36 per diluted share, for the fourth quarter of 2009. For the full year 2010, total revenue of $2.12 billion, and net income of $157.8 million, or $1.95 per diluted share increased from total revenue of $1.83 billion and net income of $81.2 million, or $0.94 per diluted share, for the full year 2009.

"Our financial performance both in the fourth quarter and in 2010 was in line with our expectations," said Gary E. McCullough, President and Chief Executive Officer. "While private sector postsecondary education is in a period of heightened scrutiny and uncertainty, we view this as a period of opportunity in which we will continue to enhance our programs, processes and systems to better meet the needs of our diverse student population."

The Company believes it is useful to present non-GAAP financial measures, which exclude certain significant items, as a means to understand the performance of its core business. On a non-GAAP basis, earnings per diluted share from continuing operations were $0.81 in the fourth quarter 2010 as compared to $0.74 in the fourth quarter of 2009. For the years ended December 31, 2010 and 2009, earnings per diluted share from continuing operations (non-GAAP basis) were $3.00 and $1.95, respectively. (See tables below and the GAAP to non-GAAP reconciliation attached to this press release for further details.)

[R-BgO]

Antwort auf Beitrag Nr.: 40.013.797 von betterthantherest am 19.08.10 15:42:42

Geschichte scheint sich zu wiederholen:

Career Education Corporation Reports Results for Fourth Quarter and Full Year 2011
SCHAUMBURG, Ill.--(BUSINESS WIRE)--Feb. 27, 2012-- Career Education Corporation (NASDAQ: CECO) today reported total revenue of $439.5 million, and a net loss of $120.4 million, or ($1.64) per diluted share, for the fourth quarter of 2011 compared to total revenue of $531.6 million and net income of $12.1 million, or $0.15 per diluted share, for the fourth quarter of 2010. For the full year 2011, total revenue of $1.88 billion, and net income of $18.6 million, or $0.25 per diluted share decreased from total revenue of $2.09 billion and net income of $157.8 million, or $1.95 per diluted share, for the full year 2010.

“In the past four months, we have taken steps to help move the company forward,” President, Chairman and CEO Steven H. Lesnik said. “The company-wide independent review into our placement rate practices, ordered by our Board of Directors, has been completed. We have reported to accreditors what we should; implemented extensive corrective measures to address any issues found; and have now closed the door on the review.”

“While we expect a challenging business and reputational year ahead, we have put a new strategy in place to deal with our current challenges and position ourselves for success beyond 2012. It’s time for Career Education to reinvent itself for the future and resume a leadership position in higher education,” Lesnik said.

The Company believes it is useful to present non-GAAP financial measures, which exclude certain significant items, as a means to understand the performance of its core business. On a non-GAAP basis, earnings per diluted share from continuing operations were $0.31 in the fourth quarter 2011 as compared to $0.74 in the fourth quarter of 2010. For the years ended December 31, 2011 and 2010, earnings per diluted share from continuing operations (non-GAAP basis) were $2.16 and $2.89, respectively. (See tables below and the GAAP to non-GAAP reconciliation attached to this press release for further details.)

[R-BgO]

Antwort auf Beitrag Nr.: 43.100.109 von R-BgO am 28.04.12 11:29:33

allerdings machen sie weiterhin guten cash-flow und kaufen Aktien zurück bis der Arzt kommt...

[R-BgO]

Antwort auf Beitrag Nr.: 43.100.109 von R-BgO am 28.04.12 11:29:33

http://seekingalpha.com/article/320917-career-education-corp…

[betterthantherest]

Antwort auf Beitrag Nr.: 43.100.120 von R-BgO am 28.04.12 11:33:19

Theoretisch wohl immer noch ein interessanter Turnaroundwert. Das war er allerdings auch schon bei meinem ersten Kauf. Hoffentlich wird es keine unendliche Geschichte.

Es ist schon ziemlich ärgerlich, was schlechtes Management so anrichtet.

[R-BgO]

Antwort auf Beitrag Nr.: 43.100.283 von betterthantherest am 28.04.12 13:05:03

und es geht weiter:

Career Education Corporation Reports Results for Second Quarter 2012
SCHAUMBURG, Ill.--(BUSINESS WIRE)--Jul. 31, 2012-- Career Education Corporation (NASDAQ: CECO) today reported total revenue of $369.0 million, and a net loss of $100.2 million, or -$1.52 per diluted share, for the second quarter of 2012 compared to total revenue of $484.9 million and net income of $55.4 million, or $0.73 per diluted share, for the second quarter of 2011. The second quarter of 2012 includes non-cash goodwill and asset impairment charges of $85.6 million.

"We are facing the same stiff headwinds as others in private sector higher education,” Chairman, President and CEO Steven H. Lesnik said. “Withering public criticism, combined with a game-changing regulatory environment aimed at reducing the role of private sector educational institutions, is effectively constraining growth. We are dealing with these headwinds like others, but progress is slow.”

“However, having rejuvenated our regulatory and compliance practices and procedures, I believe ours is an organization that sets its standards high. While 2012 will be a year of transition, our universities and schools, their faculty and staff, are a critical part of the long range solution to the shortage of Americans with needed post-secondary education credentials.”

The Company believes it is useful to present non-GAAP financial measures, which exclude certain significant items, as a means to understand the performance of its core business. On a non-GAAP basis, loss per diluted share from continuing operations was -$0.18 in the second quarter 2012 as compared to earnings per diluted share of $0.73 in the second quarter 2011. For the years to date ended June 30, 2012 and 2011, earnings per diluted share from continuing operations (non-GAAP basis) were $0.33 and $1.59, respectively. (See tables below and the GAAP to non-GAAP reconciliation attached to this press release for further details.)

[R-BgO]

Antwort auf Beitrag Nr.: 43.454.405 von R-BgO am 03.08.12 15:01:42

könnte auch ein Branchenproblem sein:

http://seekingalpha.com/article/753121-for-profit-education-…

[R-BgO]

dehistorize

[R-BgO]

sie bluten echt aus: innerhalb von 2 Jahren EK mehr als halbiert

[betterthantherest]

Antwort auf Beitrag Nr.: 50.027.805 von R-BgO am 22.06.15 22:24:27

Angeblich möchte man sich von den Verlustbringern trennen. Das würde die Karten ganz neu mischen.

[R-BgO]

Antwort auf Beitrag Nr.: 50.032.824 von betterthantherest am 23.06.15 15:14:08

was passiert seitdem?

[R-BgO]

sie bluten jedenfalls immer weiter aus

[R-BgO]

2017 weiteres Verlustjahr

[R-BgO]

sie scheinen den turn-around geschafft zu haben

[R-BgO]

und der Kurs auch...