American Public Education, Inc. · NASDAQ:APEI
American Public Education — Q2 2014 Earnings Presentation
9 slides from American Public Education's earnings presentation, Aug 5, 2014
Slide 1: Second Quarter 2014 Financial Results Conference Call
Second Quarter 2014 Financial Results Conference Call August 5, 2014 1 Moving Forward
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: Second Quarter 2014 Highlights: Continued Execution of Strategic Plan
SECOND QUARTER 2014 HIGHLIGHTS CONTINUED EXECUTION OF STRATEGIC PLAN • Initial signs of stabilization and continued market leadership within the military community, offset by decline among students using Federal Student Aid • Continued growth in net course registrations by students using GI Bill/Vet
Slide 4: Academic Quality Advances Strategic Goals
ACADEMIC QUALITY ADVANCES STRATEGIC GOALS APEI Strategic Goals: • Expand Academic Excellence • Build Strategic Relationships • Increase Programmatic Diversification • Develop Innovative Processes • Advance Learning Technologies • Enter New Markets & Segments Recent Developments: �� Launching additio
Slide 5: Financial Results Summary Second Quarter 2014
FINANCIAL RESULTS SUMMARY SECOND QUARTER 2014 • Revenues increased 6% to $85.5 million, compared to the prior year period. • Income from operations before interest income and income taxes was $15.8 million, compared to $17.2 million in the prior year period. • Overall operating margins declined in t
Slide 6: Third Quarter 2014 Financial and Operational Outlook
THIRD QUARTER 2014 FINANCIAL AND OPERATIONAL OUTLOOK The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. Approximate Growth (y/y) APUS Net course registration growth by new students -12% to -8% APUS Net course reg
Slide 7: Overcoming Key Challenges, Leveraging Core Strengths
OVERCOMING KEY CHALLENGES LEVERAGING CORE STRENGTHS Key Challenges: Leverageable Strengths and Initiatives: Military Community: • Changes to TA Eligibility • TA Funding Uncertainty Civilian Community: • Student Readiness • Economic Uncertainty • Competition �� Leadership Position �� New Programs (Nu
Slide 8: Second Quarter 2014 Financial Results Conference Call
Second Quarter 2014 Financial Results Conference Call August 5, 2014
Slide 9: Appendix I. Expense Ratios
APPENDIX I. 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% NA 100% 100% Costs and expenses: Instructional costs and services 33.0% 33.6% 61.3% NA 35.3% 33.6% Sell
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