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Santa Ana's Corinthian Colleges reports strong financial results
Company's net revenue jumps 34 percent in fiscal 2010 first quarter.
By Kristen SchottPublished: October 29, 2009 10:37 AM
Santa Ana-based Corinthian Colleges is reporting continued success: The company saw a 34 percent uptick in net revenue during its fiscal 2010 first quarter, which ended Sept. 30. The number rose to $388.5 million, compared to $289.6 during the same period in the prior year.
But that's not all. The company, which operates more than 100 campuses throughout the U.S. and Canada, says its student population grew 26 percent to 93,493, compared to 74,265 in September '08.
The positive results stem from a number of factors, including the company's work to provide a stronger experience for students, according to Corinthian CEO Peter Waller.
"We have increased our student population for more than three consecutive fiscal years, resulting in improved leverage of facility and other fixed costs," he says. "Increased advertising effectiveness and lower media costs have improved efficiencies in marketing and admissions."
The recession also plays a part in creating higher enrollment, adds Waller. But the downturn does create challenges down the line, in regard to job placement and paying back student loans.
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But that's not all. The company, which operates more than 100 campuses throughout the U.S. and Canada, says its student population grew 26 percent to 93,493, compared to 74,265 in September '08. The positive results stem from a number of factors, including the company's work to provide a stronger experience for students, according to Corinthian CEO Peter Waller. "We have increased our student population for more than three consecutive fiscal years, resulting in improved leverage of facility and other fixed costs," he says. "Increased advertising effectiveness and lower media costs have improved efficiencies in marketing and admissions." The recession also plays a part in creating higher enrollment, adds Waller. But the downturn does create challenges down the line, in regard to job placement and paying back student loans. NEXT PAGE >> Related headlines O.C. financial reports Irvine's California Coastal Communities files for bankruptcy Economic forecast: Recovery will be bumpy Grubb & Ellis announces $90 million preferred equity transaction |
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