Perdoceo Education Corporation · NASDAQ:PRDO
Perdoceo Education — Career Education — Proxy Contest (April 2006)
14 slides from Perdoceo Education's proxy contest presentation, Apr 20, 2006
Slide 1: z ie} ° a m4 re} i) Zz i} & a im oe we
z ie} 3 ° a m4 re} i) Zz i} 3 & 3 a im oe we 3 oO
Slide 2: Safe Harbor Statement
bor Statement This presentation contains certain “forward-looking statements,” as defined in Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on information currently available to us and are subject to risks and uncertainties that could cause our actual grow
Slide 3: CEC: Well Positioned for Solid Growth
CEC: Well Positioned for Solid Growth = Proven record of industry-leading growth and consistent financial performance = Flexible course offerings including campus-based, online and hybrid = Strong, well-qualified management and Board = Commitment to compliance = Scale and scope “ Over 17,000 employe
Slide 4: CEC: Distinct Competitive Advantages
CEC: Distinct Competitive Advantages = Gold-standard brands = Student-centric support services = Focus on student lifecycle = Flexible offerings = Market adaptability = Unsurpassed technology platforms
Slide 5: CEC Is Evolving
CEC Is Evolving High-quality, sustainable growth company aA The Future ¢ 1998-2005 Start-up entrepreneurial private company ® 1994-1997
Slide 6: 2005 Company Highlights
2005 Company Highlights = 18% increase in revenue to $2.0 billion = 32% increase in EPS = Substantial cash flow generation = Enhanced corporate governance = Stronger regulatory/compliance oversight = Repurchase of 5.3 million shares
Slide 7: Ten new corporate governance initiatives
Ten new corporate governance initiatives 1. Increased Board size from seven to nine members, including seven independent directors 2. Appointed three new independent directors since the 2005 annual meeting Terminated shareholder rights plan Proposed declassification of Board, including accelerated p
Slide 8: Ten new corporate governance initiatives
Ten new corporate governance initiatives 6. Implemented minimum stock ownership guidelines for senior management 7. Implemented minimum stock ownership guidelines for Board members 8. Required approval for Board members to serve on other corporate boards 9. Implemented mandatory continuing education
Slide 9: An Experienced, Independent Board
An Experienced, Independent Board
Slide 10: Highly Qualified Board Nominees
Highly Qualified Board Nominees = Patrick W. Gross has been a director of CEC since December 2005. Mr. Gross has served as Chairman of The Lovell Group, a private business and technology advisory and investment firm, since 2002. Mr. Gross is a founder and served as principal executive officer from 1
Slide 11: AIU / SACS Update
AIU /SACS Update Timetable for Addressing SACS’ Recommendations Feb - March April - June July September October December Completed third-party assessment Implement recommended changes Third-party reassessment Submit monitoring report to the Commission on Colleges of the Southern Association of Colle
Slide 12: Legal / Compliance Update
Legal / Compliance Update = April 2006 ‘ The Midwest Regional Office of the SEC advises CEC that the staff intends to recommend to the SEC that it terminate its investigation of the company and that no enforcement action be taken against the company = March 2006 v The U.S. District Court for the Nor
Slide 13: Department of Education Update
Department of Education Update = June 2005 ‘ DOE is reviewing previously announced consolidated financial statements and annual compliance audit opinions for 2000-2003; also advised it is evaluating pending school program reviews ‘ DOE indicated it will not approve any new locations or domestic acqu
Slide 14: Searchable text section of graphics shown above
Searchable text section of graphics shown above [GRAPHIC] CAREER EDUCATION CORPORATION the year of the graduate Investor Presentation April 2006 Safe Harbor Statement This presentation contains certain “forward-looking statements,” as defined in Section 21E of the Securities Exchange Act of 1934, as