The Money Man Behind Rick Santorum: Who Is Foster S. Friess?
Savings Experiment: Snow Removal
Education firm Apollo Group (NASDAQ: APOL) announced third-quarter earnings after the closing bell sounded yesterday, with earnings coming in better than a year ago thanks to higher enrollment. The company raked in $201.1 million, or $1.26 per share in the latest quarter, far better than $139.1 million, 85 cents per share a year ago. Not only did the company top last year's performance, but it also bested the Street's estimate for earnings of $1.12 per share on revenue of $1.04 billion.
Enrollment at the online college grew 22% on a year-over-year basis to 420,700 in the third quarter. The company's co-CEO Chas Edelstein noted, "We are please to report a record third quarter, driven largely by continuing increases in enrollments and improved student retention at University of Phoenix." The company's selling and promotional expenses increased during the quarter, but they declined as far as a percentage of net revenue.
Of my many faults, admitting I may be wrong is not one. I have often dismissed APOL, mainly because of the niche it occupies. However, it is this niche that has helped the company carve out a successful business plan -- especially during these trying times. Many adults are going back to school to get advanced degrees, and the University of Phoenix presents one of the cheapest alternatives. It is this niche that has the stock poised for an intermediate-term breakout, which could help propel APOL back near its early 2009 highs. Technically, it sure seems possible. APOL faces overhead resistance in the $70 region, but it is riding higher on support from its 10-week moving average. This trendline has provided support throughout the past month, and may act as a springboard, especially in light of yesterday's earnings.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
