Apollo Group, Inc. provides higher education to working adults. The Company operates through its subsidiaries, The University of Phoenix, Inc., Institute for Professional Development, The College for Financial Planning Institutes Corporation and Western International University, Inc.

Apollo Group, Inc. fournit une éducation plus élevée aux adultes travaillants.  La compagnie opère par ses filiales, l'université de Phoenix, l'inc., l'institut pour le développement professionnel, l'université pour la planification financière Institutes Corporation et l'université internationale occidentale

http://www.apollogrp.edu

Apollo Group, Inc. Reports Fiscal 2010 Second Quarter Results 
PHOENIX, Mar 29, 2010 (BUSINESS WIRE) --Apollo Group, Inc. (NASDAQ:APOL) ("Apollo Group," "Apollo" or the "Company") today reported financial results for the three and six months ended February 28, 2010. 
"We are pleased with our second quarter results, particularly with respect to the continued mix shift in student enrollments towards bachelor degree level students," said Apollo Group Co-Chief Executive Officer Chas Edelstein. "We have set forth a strategy to transition the University of Phoenix to focus on better identifying and enrolling students who have a reasonable chance to succeed in our rigorous programs, and we are delivering on that plan." 
Apollo Group Co-Chief Executive Officer and Apollo Global Chairman Greg Cappelli added, "Through our refined marketing efforts focused on identifying students who are better prepared for our programs, as well as the positive early results we are seeing from our University Orientation pilot, we are beginning to see the shift in student mix that we have been targeting, which we believe over time will result in more consistent, higher quality growth and profitability and will positively impact a number of our key metrics." 
Unaudited Second Quarter of Fiscal 2010 Results of Operations
Consolidated net revenue for the three months ended February 28, 2010, totaled $1,070.3 million, which represents a 23.1% increase over the second quarter of fiscal 2009. Contributing to the growth in the second quarter was a 15.3% year-over-year increase in University of Phoenix total Degreed Enrollment to 458,600 as well as $53.6 million in revenue from recently acquired BPP Holdings. The Company reported income from continuing operations attributable to Apollo Group for the three months ended February 28, 2010, of $103.2 million, or $0.67 per share (155.2 million weighted average diluted shares outstanding), compared to income from continuing operations attributable to Apollo Group of $128.8 million, or $0.79 per share (162.8 million weighted average diluted shares outstanding) for the three months ended February 28, 2009. 
The second quarter of fiscal 2010 results contain a pre-tax charge of $44.5 million ($26.9 million net of tax), which represents an accrual related to a securities class action lawsuit. Excluding this special item, income from continuing operations attributable to Apollo Group for the three months ended February 28, 2010, was $130.1 million, or $0.84 per share, compared to income from continuing operations attributable to Apollo Group of $128.8 million, or $0.79 per share for the three months ended February 28, 2009. (See the reconciliation of GAAP financial information to non-GAAP financial information in the tables section of this press release.) In the second quarter of fiscal 2010, BPP's operations contributed $53.6 million to revenue and due to the seasonality of its business, decreased Apollo Group's diluted earnings per share from continuing operations by approximately $0.06. (See the supplemental schedule detailing BPP's financial results in the tables section of this press release.) 
Excluded from continuing operations are the operating results for Insight Schools, which is now presented as discontinued operations, for all periods presented because the business is not longer consistent with the Company's long-term strategic objectives. The loss from discontinued operations, net of tax, associated with Insight Schools was $10.6 million for the second quarter of fiscal 2010 compared to a loss from discontinued operations, net of tax, of $3.5 million for the second quarter of fiscal 2009. Included in the $10.6 million loss for the second quarter of fiscal 2010 is a goodwill impairment charge of $9.4 million. The Company recorded this charge to reduce the carrying value of Insight Schools based on inputs from advisors which includes consideration of non-binding offers the Company recently received from third parties to purchase Insight Schools. ....
 

Apollo Group, Inc. Reports Fiscal 2009 Fourth Quarter and Year End Results 
PHOENIX--(BUSINESS WIRE)--Oct. 27, 2009-- Apollo Group, Inc. (NASDAQ: APOL) (“Apollo Group,” “Apollo” or the “Company”) today reported financial results for the three months and fiscal year ended August 31, 2009. 
“We are pleased to report another quarter of excellent financial and operating performance for the fourth quarter of fiscal 2009,” said Apollo Group Co-Chief Executive Officer Chas Edelstein. “We continue to focus on enhancing the student experience and delivering quality academic programs that are relevant to today’s working learner. The combination of these efforts is being recognized in the marketplace and resulted in solid enrollments and continued improvement in the retention of our current students.” 
Apollo Group Co-Chief Executive Officer and Apollo Global Chairman Greg Cappelli added, “We also continue to execute on our strategy by investing to maximize the value of the University of Phoenix, including a focus on our admissions process to more effectively reach students who retain at higher rates, while expanding intelligently both domestically and globally as evidenced by our acquisition of BPP, which closed during the fourth quarter. We believe that a superior student experience, enabled by our talented and engaged faculty and staff and education-based technology innovations, will result in long-term value for our shareholders.” 
Unaudited Fourth Quarter of Fiscal 2009 Results of Operations 
Consolidated net revenue for the three months ended August 31, 2009, totaled $1075.8 million, which represents a 29.4% increase over the fourth quarter of fiscal 2008. Contributing to the growth in the fourth quarter was a 22.3% year-over-year increase in University of Phoenix total Degreed Enrollment to 443,000. The Company reported net income for the three months ended August 31, 2009, of $91.5 million, or $0.59 per share (155.7 million weighted average diluted shares outstanding), compared to net income of $229.6 million, or $1.43 per share (160.1 million weighted average diluted shares outstanding) for the three months ended August 31, 2008. 
The fiscal 2009 fourth quarter results contain special items totaling pre-tax charges of $95.4 million ($69.4 million net of tax), including an accrual for an estimated litigation settlement of $80.5 million, a $9.4 million write-off of information technology fixed assets that resulted primarily from the Company’s rationalization of software, a $5.5 million charge, net of minority interest, representing the option premium for a currency hedge in connection with Apollo Global’s acquisition of BPP Holdings plc (“BPP”) and a discrete charge to the income tax provision of $4.7 million due to the write-off of a deferred tax asset as a result of certain disallowed deductions associated with share-based compensation related to options exercised by an executive during the fourth quarter. Included in the fiscal 2008 fourth quarter results is a reversal of a previously-accrued litigation loss associated with a securities matter of $170.0 million when the earlier judgment was vacated, as well as a $9.5 million gain from a third party’s forfeiture of an escrow deposit in connection with a now-cancelled agreement to sell and lease back the Company’s headquarters buildings. 
Excluding these special items, net income for the three months ended August 31, 2009, was $165.6 million, or $1.06 per share, compared to net income of $120.5 million, or $0.75 per share for the three months ended August 31, 2008. (See the reconciliation of GAAP financial information to non-GAAP financial information in the tables section of this press release.) 
In the fourth quarter of fiscal 2009, BPP’s operations contributed $13.1 million to revenue and reduced earnings per share by approximately $0.03. Apollo Global completed the acquisition of BPP, a UK-based provider of education and training mainly to professionals in the legal and finance industries on July 30, 2009. The final purchase price for BPP was $602 million. 
On September 30, 2009, University of Phoenix, a subsidiary of Apollo Group, Inc., confirmed that it has entered into settlement discussions with plaintiffs to resolve the Incentive Compensation False Claims Act litigation pending in the U.S. District Court for the Eastern District of California. There is no assurance that a settlement will be reached. Pending the outcome of these discussions, University of Phoenix and the plaintiffs jointly requested a stay of all litigation proceedings for 45 days, which was granted on October 2, 2009. In connection with this matter, the Company recorded a pre-tax charge of $80.5 million in the fourth quarter of fiscal 2009 which is the Company’s best estimate of the loss to be incurred in connection with this matter, including associated expenses. 
Instructional costs and services increased by $90.6 million, or 25.0% to $452.9 million for the three months ended August 31, 2009, compared to the three months ended August 31, 2008. As a percentage of net revenue, instructional costs and services declined 150 basis points to 42.1% versus 43.6% in the prior year’s fourth quarter. The reduction, as a percentage of revenue, was greater when excluding the impact of BPP’s operations in the fourth quarter of fiscal 2009. The improvement was predominantly due to University of Phoenix continuing to leverage its fixed costs, such as certain wages, classroom space and depreciation expense. University of Phoenix has grown its headcount at a slower rate than the increase in net revenue. The Company also benefited from savings due to lower negotiated contract costs in financial aid processing and other areas. This was partially offset by higher expenses at Apollo Global associated with its start-up, development and other infrastructure and support costs for the Company’s international operations, as well as, a 120 basis point increase to 4.2%, as a percentage of net revenue, in bad debt expense versus the fourth quarter of fiscal 2008. The increase in bad debt expense is primarily due to the increased risk of collecting aged receivables and lower collection rates on those receivables given the current economic downturn. 

Apollo Group, Inc. Expands Board of Directors 
Terri Bishop, Stephen J. Giusto and Manuel F. Rivelo Elected as Directors
PHOENIX--(BUSINESS WIRE)--Mar. 17, 2009-- Apollo Group, Inc. (Nasdaq:APOL) today announced that at the annual meeting of its Class B shareholders on March 11, 2009, the shareholders elected Ms. Terri C. Bishop, Mr. Stephen J. Giusto and Mr. Manuel F. Rivelo to its Board of Directors, bringing the total number of directors to 13 from 10 previously. The shareholders also reelected each of the 10 incumbent directors. After the election of these directors, the Board now includes eight independent directors. 
“In an effort to continually enhance and improve our corporate governance standards, and to expand and diversify the talent and expertise of the Board, we have added three new directors,” said John Sperling, Executive Chairman of Apollo Group, Inc. “The combined wealth of knowledge and experience of the new directors will add significant value to Apollo and I am very pleased to welcome Terri, Steve and Manny to the Board.” 
Terri Bishop serves as Executive Vice President of External Affairs for Apollo Group, Inc. She was previously Chief Communications Officer and Senior Vice President of Public Affairs. Ms. Bishop has had a long and successful history with Apollo Group, having been with the Company since 1982. During that time she has served in the areas of government and public affairs, curriculum and product development and institutional research. She was the founding Vice President and internal entrepreneur of the University of Phoenix’s online campus, providing oversight during its first 10 years of startup and development. Ms. Bishop holds a bachelor’s degree in business and a master’s degree in human relations and organizational management from University of Phoenix. She is a member of the board of directors of One Touch Systems, which provides interactive distance learning and communications solutions. She also serves on the board of the Latino Policy Coalition, a national non-profit consortium of the country’s leading Latino research organizations and scholars. 
 

Apollo Group, Inc. Reports Fiscal 2009 First Quarter Results 
First quarter revenue increases approximately 24% year-over-year First quarter operating income grows 40% year-over-year Degreed Enrollment reaches 384,900 during the first quarter, an 18% increase year-over-year First quarter New Degreed Enrollment increases nearly 26% year-over-year
PHOENIX--(BUSINESS WIRE)--Jan. 8, 2009--Apollo Group, Inc. (Nasdaq: APOL) ("Apollo Group," "Apollo" or "the Company") today reported financial results for the three months ended November 30, 2008. 
Unaudited First Quarter of Fiscal 2009 Results of Operations 
Consolidated revenues for the three months ended November 30, 2008, totaled $971.0 million, which represents a 24.4% increase over the first quarter of fiscal 2008. Total Degreed Enrollment in the first quarter grew by 18.4% year-over-year to 384,900. The Company reported net income for the three months ended November 30, 2008, of $180.4 million, or $1.12 per share (160.8 million weighted average diluted shares outstanding), compared to net income of $139.9 million, or $0.83 per share (169.3 million weighted average diluted shares outstanding) for the three months ended November 30, 2007. 
"Our year-end momentum carried into the first quarter of fiscal 2009 as we continue to benefit from the significant investments we have made over the past several years and we are very pleased with our results," said Chas Edelstein, Chief Executive Officer of Apollo Group. "We reported year-over-year operating income growth of approximately 40% on 24% revenue growth, and Degreed Enrollment reached a record 384,900 students during the quarter. While we cannot quantify the significance of the current economy on our growth, we believe we are experiencing a positive impact, and we continue to generate meaningful cash flow. Additionally, our growth is directly impacted by the efforts of our thousands of employees and faculty who are dedicated to providing great academic service and support to our students." 
Mr. Edelstein continued, "Our flagship University of Phoenix contributed significantly to our results, and we are very pleased with the continued growth in bachelor degree seeking students, which is an important market for us. In the first quarter, new degreed enrollment of bachelor students grew close to 20% over the prior year. We are making progress in our other investment areas as well including our online high school, Insight Schools and Apollo Global." 
In conclusion, Mr. Edelstein stated, "We remain optimistic about Apollo Group's future. We have a strong balance sheet as well as solid operational and academic teams, putting us in a good position to further execute on our strategy and generate long-term shareholder value." 
Instructional costs and services increased by $44.0 million, or 13.2% to $377.3 million for the three months ended November 30, 2008, from $333.3 million in the three months ended November 30, 2007. As a percentage of net revenue, instructional costs and services declined 380 basis points to 38.9% versus 42.7% in the prior year quarter. A predominant contributor to the decline was savings from lower negotiated contract costs from third-party vendors, particularly in financial aid processing where costs declined 140 basis points as a percentage of net revenue. Additionally, the Company continues to benefit from lower classroom lease expenses and depreciation as a percentage of net revenue. Bad debt expense declined 60 basis points as a percentage of net revenue, primarily due to a continued focus on front end collection efforts and improved student retention rates. As compared to the fourth quarter of fiscal 2008, bad debt expense increased 60 basis points, as a percentage of net revenue, due, in part, to the risk of collecting aged receivables given the current economic environment. 
Selling and promotional expenses increased by $51.7 million, or 29.2%, to $228.6 million for the three months ended November 30, 2008, from $176.9 million in the three months ended November 30, 2007. As a percentage of net revenue, selling and promotional expenses increased 90 basis points to 23.5%, from 22.6% in the prior year's first quarter. This was mainly a result of an 80 basis point increase in other selling and promotional expenses principally driven by increases in the Company's corporate marketing function, including additional employees. The Company continues to invest in marketing to build greater brand identity as well as to drive and support future enrollment growth. 

General and administrative ("G&A") expenses for the three months ended November 30, 2008, increased by $6.9 million, or 13.5%, to $58.2 million, from $51.3 million in the three months ended November 30, 2007. G&A, as a percentage of net revenue, decreased to 6.0% in the first quarter of 2009, versus 6.6% in the comparable period a year ago. The 60 basis point decline is mainly attributable to a decrease in legal costs, share-based compensation expense, and other G&A expense, somewhat offset by higher employee compensation expense, as a percentage of net revenue.
 

Apollo Group, Inc. Reports Fiscal 2008 Fourth Quarter and Year-End Financial Results
Fourth quarter revenue increases approximately 16.5% year-over-year 
Degreed Enrollment at year-end increases 15.4% year-over-year 
Fourth quarter New Degreed Enrollment increases 19.1% year-over-year
PHOENIX--(BUSINESS WIRE)--Oct. 28, 2008--Apollo Group, Inc. (Nasdaq: APOL) ("Apollo Group," "Apollo" or "the Company") today reported financial results for the three months and fiscal year ended August 31, 2008. During the fourth quarter, Charles "Chas" B. Edelstein joined the Company as Chief Executive Officer of Apollo Group. Subsequent to the year-end, Joseph L. D'Amico was appointed President of Apollo Group, in addition to being the Chief Financial Officer and Treasurer.
Chas Edelstein commented, "I am delighted to be a part of the successful and talented team at Apollo Group. In my short time here I have validated my prior belief that this is a world-class organization with tremendous opportunity in its future. I look forward to working with the team as we strengthen and grow our business both domestically and internationally."
Unaudited Fourth Quarter of Fiscal 2008 Results of Operations
Consolidated revenues for the three months ended August 31, 2008, totaled $831.4 million, which represents a 16.5% increase over the fourth quarter of fiscal 2007. Total Degreed Enrollment grew by 15.4% year-over-year to 362,100. The Company reported net income for the three months ended August 31, 2008, of $229.6 million, or $1.43 per share (160.1 million weighted average diluted shares outstanding), compared to net income of $103.2 million, or $0.60 per share (171.3 million weighted average diluted shares outstanding) for the three months ended August 31, 2007.
During the fourth quarter, the Company reversed its previously recorded charge for estimated damages of $170 million associated with the judgment in a securities class action lawsuit because the Ninth Circuit vacated the earlier judgment.
Before giving effect to this reversal, and to a $9.5 million gain (including interest) during the fourth quarter of 2008 from a third party's forfeiture of an escrow deposit due to the expiration of their option to purchase the Company's headquarters building, and to restatement costs of $6.4 million in the fourth quarter of fiscal 2007, net income increased 12.5% to $120.5 million, or $0.75 per share in the fourth quarter of fiscal 2008, as compared to net income of $107.1 million, or $0.62 per share in the fourth quarter of fiscal 2007.
Excluding share-based compensation expense of $4.1 million and $13.2 million in the fourth quarters of fiscal 2008 and 2007, respectively, as well as the special items described above, net income would have been $123.0 million, or $0.77 per share in the fourth quarter of fiscal 2008, as compared to net income of $115.1 million, or $0.67 per share in the fourth quarter of fiscal 2007.
(See the reconciliation of Generally Accepted Accounting Principles ("GAAP") financial information to non-GAAP financial information in the tables section of this press release.)
"The fourth quarter concluded a transformative and rewarding year for Apollo Group and its stakeholders, as we made solid financial, operational and organizational strides. In fiscal 2008, we grew our revenue by approximately 15% over the prior year, and importantly, for the first time in several years, meaningfully grew earnings per share, while continuing to produce significant cash flow," said Joseph L. D'Amico. "In the fourth quarter we again reported solid revenue and enrollment growth, and we experienced an increase in the year-over-year growth rate of New Degreed Enrollments for the second quarter in a row. During the fourth quarter we had Degreed Enrollment of 362,100 students, having started a record 83,100 students during the quarter. And, while the overall cost to acquire a student is still higher than we would like, we continue to work diligently and are pleased with the efforts we have in process."