Business
American Public Education Reports Second Quarter 2020 Results
Enrollment Momentum Continues as Net Course Registrations at American Public University System Increased 18% and Student Enrollment at Hondros College of
About this update from American Public Education, Inc.
[{"type":"text","content":"Enrollment Momentum Continues as Net Course Registrations at American Public University System Increased 18% and Student Enrollment at Hondros College of Nursing Increased 14%\n Continued Focus on Providing Adult Learners with Quality, Affordable, Flexible and Inclusive Educational Opportunities\n\n\nCHARLES TOWN, W.V., Aug. 10, 2020 /PRNewswire/ -- American Public Education, Inc. (Nasdaq: APEI) (the \"Company\") – parent company of online learning provider American Public University System (APUS) and on-ground pre-licensure Hondros College of Nursing (HCN) – announced financial results for the second quarter ended June 30, 2020 that reflected continued momentum in enrollment growth across both institutions and the ongoing turnaround at Hondros.\n\n \n \n \n \n \n \n\n \nSecond Quarter Highlights: \nNet course registrations by new students at APUS increased 30% year-over-year. Total net course registrations increased 18% year-over-year to 89,600. New student enrollment at HCN increased 56% year-over-year and total student enrollment increased 14% year-over-year to 1,750. Consolidated revenue increased 16.4% year-over-year to $82.1 million, compared to the prior year period. Net income increased 35.9% year-over-year to $6.7 million, or $0.45 per share.\"We are incredibly grateful that a growing number of adult learners seeking affordable, safe and uninterrupted access to high-quality higher-education experiences recognize the value of our learning platforms,\" said Angela Selden, Chief Executive Officer of APEI. \"Our institutions were built on the belief that quality education should be accessible to all, not reserved for the few, and this is especially true during this period of great disruption in our economy and in higher education.\" \n\"The growth in enrollments in the second quarter as compared to a year ago reflects the ongoing transformation that has been taking place at APEI over the past year. At HCN, we have improved curriculum and made pre-licensure degrees more readily available to individuals interested in the nursing field. At APUS, students looking to improve their future career prospects chose APUS for its affordability and high-quality academic programs.\"\n\"Moving forward, we will continue to emphasize helping more adult learners maximize their higher education return on investment (HEROI) with highly relevan...