One good thing to come out of the softening economy is that working adults may return to school in larger than average numbers to brush up on the latest in-demand job skills. DeVry Incorporated (NYSE: DV) is well placed to provide convenient, affordable, job-related educational opportunities. In its most recent quarter, DeVry's student enrollment grew 10%, it opened two new physical campuses and beefed up its accounting and finance programs.
Revenues for 2Q 2008, announced January 24, increased 16% to $237.7 million, but operating income increased 115% to $46.9 million, while net income increased 118% to $35.8 million, and diluted EPS increased 113% to $0.49.
At a cost of $27.5 million in cash, DeVry recently acquired Advanced Academics, Inc., which provides K-12 online educational opportunieis for the growing cyber-home school segment. DeVry's student loan program is in good shape, a claim not all for-profit educational companies can make.
The stock gained 3.6% on January 31 to close at $55.19, but gave up half that gain on February 1 to close down 1.5% at $54.35, before regaining that decline on February 4 to close at $55.11, up 1.4%. Investors may wish to investigate the for-profit educational sector for possible attractive growth candidates.
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