Perdoceo Education Corporation · NASDAQ:PRDO
Perdoceo Education — Career Education — Q3 2015 Earnings Presentation
10 slides from Perdoceo Education's earnings presentation, Nov 4, 2015
Slide 1: Third Quarter 2015 Investor Conference Call
CAREER EDUCATION CORPORATION THIRD quarter 2015 investor conference call November 4, 2015 Dave Rawden Interim Chief Financial Officer Ashish Ghia Vice President, Finance Todd Nelson President & Chief Executive Officer Exhibit 99.2
Slide 2: Forward-Looking Statements and Non-GAAP Information
This presentation contains “forward-looking statements,” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, that reflect our current expectations regarding our future growth, results of operations, cash flows, performance and business prospects and opportunities, as well a
Slide 3: Third Quarter Highlights
Third Quarter Highlights Total University Group revenue of $136.1 million, up 3.0% year-over-year after adjusting for changes to accounting for student withdrawals University Group operating income of $20.3 million, an increase of 212.3% year-over-year Positive cash flow from operations of $5.6 mill
Slide 4: Review of Transformation Plan
Strategy designed to right-size and re-engineer organization to create a profitable and competitive company better positioned to serve and educate our students Path to competitive operating margins Teach out/Divest Transitional Group and LCB Corporate Re-engineering University Efficiencies Leg 1 Leg
Slide 5: Third Quarter Results
Third Quarter Results Recent CTU Performance 8 {$ millions) 8688 ae 8 Q32014 042014 12015 22015 932015, Total Student Enrollments mm Revenue Recent AIU Performance 60 16,000 50 14,000 - 12,000 £ £ ? 10,000 3 30 & 2 3,000 = 220 2 6,000 2 10 5 4,000 © ° 2,000 “10 032014 42014 Qi 2015 2201532015 mm Rev
Slide 6: Review of Transitional & Forward Expectations
Review of Transitional & Forward Expectations Teach-out dates are estimated based on current student enrollment and are subject to change. Dollar amounts now include estimated impacts of a potential transaction for LCB and assumes consummation of the transaction in early 2016. Refer to Slide 7 for a
Slide 7: Key Transformation Assumptions
Key Transformation Assumptions Achievement of the transformation strategy and its estimated results included within these slides are based on the following key assumptions and factors, among others: Flat-to-modest total enrollment growth within the University Group over time Teach-outs and divestitu
Slide 8: Reconciliation of GAAP to Non-GAAP Items
Reconciliation of GAAP to Non-GAAP Items
Slide 9: Reconciliation of GAAP to Non-GAAP Items – con't
Reconciliation of GAAP to Non-GAAP Items – con’t
Slide 10: End of Presentation
End of Presentation