American Public Education, Inc. · NASDAQ:APEI
American Public Education — Q2 2008 Earnings Presentation
10 slides from American Public Education's earnings presentation, Aug 12, 2008
Slide 1: Second Quarter 2008 Earnings Conference Call
Slide: 1 Proprietary - Not for duplication Second Quarter 2008 Earnings Conference Call August 12, 2008
Slide 2: Safe Harbor Statement
Slide: 2 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. These forward-l
Slide 3: Recent Highlights
Slide: 3 Company reported second quarter 2008 earnings of $0.21 per diluted share Operating margins increased to 23.0% in second quarter of 2008, compared to 20.4% in second quarter of 2007 Full Year 2008 Earnings Outlook increased; Third Quarter 2008 Earnings Outlook introduced Broadening relations
Slide 4: 2Q2008 Financial Results
Slide: 4 2Q2008 Financial Results ($ in thousands, except per share data and registrations) Includes pretax stock-based compensation expense of $469,000 in 2008 and $116,000 in 2007. Includes after-tax stock-based compensation expense of $307,000 or $0.02 per diluted share in 2008 and $126,000 or $0
Slide 5: 2Q2008 Operating Margin Improvement
Slide: 5 2Q2008 Operating Margin Improvement
Slide 6: 2Q2008 Tax Rate Lower Than Expected
Slide: 6 2Q2008 Tax Rate Lower Than Expected Second 2008 quarter tax rate: 34% Less than expected due to higher revenues from lower tax rate jurisdictions Expected full year 2008 tax rate of 41%
Slide 7: Third Quarter 2008 Outlook
Slide: 7 3rd Quarter 2008 %Growth Net Course Registrations approx. 36,250 43% Net Course Registrations from New Students approx. 9,100 37% Total Revenue $25.5 to $26.2 million 45%-49% Net Income (1) $3.1 to $3.4 million 40%-53% EPS – Diluted (1) $0.17 to $0.18 (1) Includes stock-based compensation e
Slide 8: Increased Full Year 2008 Outlook
Slide: 8 Prior FY 2008 Updated FY 2008 Net Course Registrations 139,000+ 141,000+ Net Course Registrations from New Students 33,500+ 34,500+ Total Revenue $102 to $104 million $103.0 to $105.5 million Net Income (1) $12.8 to $13.6 million $14.5 to $14.7 million EPS – Diluted (1) $0.67 to $0.72 $0.76
Slide 9: Closing Remarks – Positioned for Strong Growth in 2008 and Beyond
Slide: 9 Closing Remarks – Positioned for Strong Growth in 2008 and Beyond Expanding in civilian markets Continued success in military market New programs and market segments
Slide 10: www.AmericanPublicEducation.com
Slide: 10 Proprietary - Not for duplication www.AmericanPublicEducation.com
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