CHARLES TOWN, W.Va.--(BUSINESS WIRE)--Jan. 25, 2008--American
Public Education, Inc. (NASDAQ:APEI) - parent company of online
learning provider American Public University System, which operates
through American Military University and American Public University -
announces an updated outlook for the Fourth Quarter 2007 based on
preliminary actual results. The Company expects to announce definitive
fourth quarter earnings information on March 11, 2008. In addition,
the Company introduces its First Quarter 2008 Outlook.
The following statements are based on current expectations. These
statements are forward-looking and actual results may differ
materially.
Fourth Quarter 2007 Outlook Update:
- The Company anticipates that it will report net course
registrations from new students of approximately 6,800 and
total net course registrations of approximately 27,800 in the
fourth quarter 2007; resulting in anticipated net course
registrations from new students of approximately 16,000 and
total net course registrations of approximately 94,500 for the
year ended December 31, 2007.
- For the fourth quarter 2007, the Company expects to report
total revenue between $20.8 million and $21.1 million;
resulting in expected total revenue for the year ended
December 31, 2007 between $68.7 million and $69.0 million.
- The Company expects to report net income, including
stock-based compensation expense, of between $2.7 million and
$3.0 million in the fourth quarter 2007. The weighted average
number of diluted shares outstanding in the fourth quarter is
expected to have been approximately 15.9 million, resulting in
fully diluted earnings per share between $0.17 and $0.19. The
Company expects to report net income between $8.5 and $8.8
million for the year ended December 31, 2007. The weighted
average number of diluted shares outstanding for the year
ended December 31, 2007 is expected to have been approximately
13.6 million.
First Quarter 2008 Outlook:
- The Company anticipates net course registrations from new
students of 7,800 or more and total net course registrations
of 31,500 or more in the first quarter 2008.
- For the first quarter 2008, the Company expects total revenue
to be between $21.5 and $22.1 million.
- The Company estimates that net income, including stock-based
compensation expense, will be between $2.1 million and $2.6
million in the first quarter 2008. The weighted average number
of diluted shares outstanding in the first quarter is expected
to be between 18.7 and 19.0 million.
American Public Education plans to introduce its Full Year 2008
Outlook and additional details regarding its First Quarter 2008
Outlook in its upcoming fourth quarter 2007 earnings announcement
currently scheduled for release March 11, 2008.
About American Public Education, Inc.
American Public Education, Inc. (NASDAQ: APEI) is an online
provider of higher education focused primarily on serving the military
and public service communities. American Public University System
(APUS), wholly owned by APEI, comprises two universities - American
Military University (AMU) and American Public University (APU).
Regionally and nationally accredited, APUS serves more than 30,000
students who live and work in all 50 states and more than 130
countries; and offers 57 degree programs and 48 certificate programs
in fields ranging from homeland security, military studies,
intelligence, and criminal justice to technology, business
administration, public health, and liberal arts.
Forward Looking Statements
Statements made in this press release 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-looking statements are subject to risks and
uncertainties that could cause actual future events or results to
differ materially from such statements. Forward-looking statements can
be identified by words such as "anticipate", "believe", "could",
"estimate", "expect" "intend", "may", "should" "will" and "would".
These forward-looking statements include, without limitation,
statements under the headings "Fourth Quarter 2007 Outlook Update" and
"First Quarter 2008 Outlook" above and statements regarding
expectations of meeting or exceeding previously provided Fourth
Quarter 2007 outlook. Actual results could differ materially from
those expressed or implied by these forward-looking statements as a
result of various factors, including the various risks described in
the "Risk Factors" section and elsewhere in the Prospectus that forms
a part of the Registration Statement on Form S-1 (SEC File No.
333-145185) filed with the Securities and Exchange Commission on
November 9, 2007, for the Company's initial public offering. The
Company undertakes no obligation to update publicly any
forward-looking statements for any reason, even if new information
becomes available or other events occur in the future.
CONTACT: American Public Education, Inc.
Harry T. Wilkins, CPA
Executive Vice President and Chief Financial Officer
304-724-3722
or
Christopher L. Symanoskie
Director, Investor Relations
703-334-3880
SOURCE: American Public Education, Inc.