American Public Education, Inc. · NASDAQ:APEI
American Public Education — Q4 2009 Earnings Presentation
14 slides from American Public Education's earnings presentation, Feb 22, 2010
Slide 1: Fourth Quarter 2009 Investor Call
Advancing at a steady click: The success of our students. The value of our approach. A M E R I C A N P U B L I C E D U C A T I O N , I N C. 1 A M E R I C A N P U B L I C E D U C A T I O N , I N C. Fourth Quarter 2009 Investor Call
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements made in this presentation regarding American Public Education, or its subsidiaries, that are not historical facts are forward-looking statements based on current expectations, assumptions, estimates and projections about American Public Education and the industry. Th
Slide 3: A Successful Year for American Public Education
3 A Successful Year for American Public Education Total student enrollment increased 41% to 63,800 students in 2009 Net course registrations increased 41%Double-digit revenue and earnings growth in the year 2009 Revenues increased 39% to $149.0 million Operating income increased 55% to $39.9 million
Slide 4: Title IV Registration Growth and Active Duty Military Registration Growth
4 Title IV Registration Growth: 90% Growth (Registrations in Thousands) Continued Expansion within Military and Civilian Communities Active Duty Military Registration Growth: (Registrations in Thousands) 31% Growth
Slide 5: Diverse Student Population
5 Registrations by Source: Students by Status: Military66% Civilian34% TA 56% Title IV19% Cash & Other20% Veteran Benefits5% Students by School: Public Safety & Health 26% Arts & Humanities 22% Education 1% Science & Technology 9% Business 10% Management 14% Security & Global Studies 18% Students by
Slide 6: The Value of Our Distinctive Approach
6 The Value of Our Distinctive Approach Affordable tuition with few fees and undergraduate book grant programBroad array of online programs with frequent class starts 76 degree programs, including many unique programs 16 and 8 week course duration and monthly starts Focus on academic quality and tra
Slide 7: Steadily Advancing in The Year 2010
7 Manage robust top line growth while enhancing academic quality Continue to improve retention rates and driving higher customer satisfaction Implement new, state-of-the-art learning management system (LMS)Launch new degree programs and specializations Serve and expand our relationships and partners
Slide 8: Financial Overview
8 Financial Overview
Slide 9: Recent Highlights in Fourth Quarter 2009
9 Recent Highlights in Fourth Quarter 2009 Strong 4Q2009 Net Course Registration Growth Net course registrations increased 39% Net course registrations from new students increased 38% Continued success among key audience segments Strong financial performance during 4Q2009 Revenues increased 39% to $
Slide 10: Increased Operating Efficiency in 2009
10 Increased Operating Efficiency in 2009
Slide 11: Strong Balance Sheet with No Debt
11 Strong Balance Sheet with No Debt As of December 31, 2008 2009 Cash & Cash Equivalents Total Assets Total Long-Term Debt Depreciation and Amortization CAPEX ($ in millions) $47.7 $78.8 $0 $74.9 $115.8 $0 $4.2 $5.2 $10.0 $10.8 Year Ended December 31, 2008 2009
Slide 12: Introducing Full Year 2010 & 2011 Outlook
12 The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. Net course registration growth Revenue growth Net Income growth For fiscal year 2011, the Company currently anticipates net course registrations will increase
Slide 13: Strong Growth and Operating Leverage
13 RevenuesIn millions Income from operations before interest income and income taxIn millions (1) Excludes a $3.1 million write-off of capitalized software development costs in 2006. Net Course RegistrationsIn thousands Strong Growth and Operating Leverage 1 CAGR: 45% CAGR: 45% CAGR: 62%
Slide 14: Fourth Quarter 2009 Investor Call
14 Advancing at a steady click: The success of our students. The value of our approach. A M E R I C A N P U B L I C E D U C A T I O N , I N C. Fourth Quarter 2009 Investor Call
American Public Education — Q4 2009 Earnings Presentation on 6ix