American Public Education, Inc. · NASDAQ:APEI
American Public Education — Q4 2014 Earnings Presentation
9 slides from American Public Education's earnings presentation, Feb 26, 2015
Slide 1: Fourth Quarter and Full Year 2014 Financial Results Conference Call
Fourth Quarter and Full Year 2014 Financial Results Conference Call February 26, 2015
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT Statements made in this presentation regarding American Public Education, Inc. 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 industr
Slide 3: Year 2014 Highlights: Successes in a Challenging Environment
Moving Forward YEAR 2014 HIGHLIGHTS SUCCESSES IN A CHALLENGING ENVIRONMENT • Academic Quality: APUS advanced academic quality initiatives and student retention pilot programs • New Programs: APUS added degrees in Cybersecurity, Electrical Engineering, Public Policy and a dual master’s degree in Home
Slide 4: Fourth Quarter 2014 Results: Continued Execution of Strategic Plan
FOURTH QUARTER 2014 RESULTS CONTINUED EXECUTION OF STRATEGIC PLAN • In the fourth quarter of 2014, APUS continued to experience year-over-year declines in net course registrations by students using Federal Student Aid. • However, net course registrations by new students using Military Tuition Assist
Slide 5: Advancing the Learning Platform; Seeking New Opportunities
ADVANCING THE LEARNING PLATFORM; SEEKING NEW OPPORTUNITIES Key Initiatives: • Expand successful student persistence pilots, including ClearPath • Tuition increase; tuition grant for active duty military (2H2015) • Further improve brand positioning with differential pricing (2016) • Implement admissi
Slide 6: Fourth Quarter 2014
FOURTH QUARTER 2014 • Revenues increased 10% to $91.3 million, compared to the prior year period. • Overall operating margins increased in the fourth quarter of 2014: • Instructional costs and services as a percentage of revenue decreased to 34.6%, compared to 35.0% in the prior year period. • Selli
Slide 7: First Quarter 2015 Financial and Operational Outlook
FIRST QUARTER 2015 FINANCIAL AND OPERATIONAL OUTLOOK The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. Approximate Change (y/y) APUS Net course registrations by new students -18% to -13% APUS Net course registra
Slide 8: Fourth Quarter 2014 Financial Results Conference Call
Fourth Quarter 2014 Financial Results Conference Call February 26, 2015
Slide 9: Appendix I. Fourth Quarter 2014 Expense Ratios
APPENDIX I. FOURTH QUARTER 2014 EXPENSE RATIOS The table below includes a summary of expenses as a percent of revenue for our operating segments: 9 Moving Forward 2014 2013 2014 2013 2014 2013 Revenues 100% 100% 100% 100% 100% 100% Costs and expenses: Instructional costs and services 32.0% 34.6% 60.
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