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Strayer revenue down on lower enrollment

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Earnings report: Strayer Education Inc., Herndon

THE TAKE: Revenue at Strayer Education Inc., owner of Strayer University, a proprietary institution of higher education, fell 8.5 percent in the third quarter mostly because of lower enrollment. The number of campus-based students fell 6 percent to 45,977 students. Global online students rose 13 percent to 5,750 students. The company opened a new campus in San Antonio, Texas, during the fall term and has plans to open three more campuses during the remainder of 2012 in Houston, St. Louis and Kansas City. No new campuses are planned for next year.

THE NUMBERS:
Revenue: $124.3 million during the third quarter, down 8.5 percent from $135.9 million in the third quarter of 2011
Profit: $4.1 million, compared with $13. 9 million in the prior year
Earnings per share: 36 cents per share, compared with $1.20 per share the previous year


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