DeVry Inc. (DV) recently announced a record fiscal first quarter. Earnings per share of 76 cents topped last year’s 48 cents and exceeded the Zacks Consensus Estimate by 17%.

Company Description

DeVry is the holding company for DeVry University, Advanced Academics, Ross University, Chamberlain College of Nursing, Apollo College, Western Career College, Becker Professional Review and Fanor. The education provider prepares students for careers in technology, business and management, delivering undergraduate, graduate and life long learning programs.

Advanced Academics provides online secondary education to school districts throughout the U.S. Ross University offers programs for general medical and veterinary practice. Chamberlain College of Nursing delivers undergraduate health care education programs. Apollo College and Western Career College prepare students for careers in healthcare through certificate and associate degree programs.

Becker Professional Review prepares students for professional certification exams such as the certified public accountant (CPA), certified management accountant (CMA) and chartered financial analyst (CFA).

Based in Brazil, Fanor offers degree programs in business management, law and engineering through its four schools: Faculdades Nordeste, Faculdade Ruy Barbosa, Faculdade FTE and ÁREA1.

Record Results

The company recently announced a record fiscal first quarter. Earnings per share of 76 cents topped last year’s 48 cents and exceeded the Zacks Consensus Estimate by 17%.

Revenues hit a record $431 million, representing a year-over-year increase of 42%.

“Our financial results this quarter were driven largely by exceptional revenue growth,” said Daniel Hamburger, DeVry’s president and chief executive officer. “Our institutions continue to experience strong enrollment and student retention, as evidenced by our results at Keller, Ross and Fanor. These financial results provide the resources for us to continue to make investments that enhance academic quality, improve student services, and expand access to education.”

Bullish Forecasts

Analysts polled by Zacks are bullish on forecasts for the fiscal year ending June 2010. Current projections of $3.15 per share are up from $3.01 in just the past week. For the following year, earnings expectations of $3.81 were increased from $3.65 over the same time period.

Zacks Investment Research
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