Key Developments: DeVry Inc (DV)
31.27USD
24 May 2013
$0.41 (+1.33%)
$30.86
$30.74
$31.40
$30.46
304,373
703,082
$34.51
$18.15
Latest Key Developments (Source: Significant Developments)
DeVry Inc. Appoints Timothy J. Wiggins As CFO And Treasurer
DeVry Inc. announced the appointment of Timothy J. Wiggins as Senior Vice President, Chief Financial Officer and Treasurer. In his new role, Wiggins will be responsible for all functions within the finance group including accounting, investor relations, tax and treasury, internal audit, strategy and business development, supply management, and real estate. He will report to Daniel Hamburger, President and Chief Executive Officer. Wiggins will assume his responsibilities on January 3. He succeeds Richard Gunst, who had previously announced his retirement. Gunst will remain with DeVry for a brief period following Wiggins’ arrival to aid in a smooth transition. Full Article
DeVry Inc. Announces Increase In Dividend; Authorizes Additional Share Repurchases
DeVry Inc announced that its board of directors approved a 25% dividend increase, raising its dividend from $0.24 to $0.30 per share annually. Payable on a semi-annual basis, the next dividend payment of $0.15 will be made on January 10, 2012, to common stockholders of record as of December 8, 2011. In addition, the board of directors authorized a seventh share repurchase program, which allows DeVry to repurchase up to $100 million of its common stock through December 31, 2013. The new program will commence upon completion of the existing $100 million program, which is expected to occur in December 2011. Full Article
DeVry Inc. Reaffirms H1, H2 And FY 2012 Earnings Guidance-Conference Call
DeVry Inc. announced that earnings in the first half of 2012 would be below prior year given the impact of the enrollment deceleration and tougher year-over-year comparisons. This is still the expectation given first-quarter results. Second-half 2012 earnings to be up versus prior year with the fiscal 2012 likely to be plus or minus the fiscal 2011 level, and that was predicated upon improved enrollment at DeVry University Undergrad and Carrington to be able to show earnings growth for the year. According to I/B/E/S Estimates, analysts are expecting the Company to report earnings per share (EPS) of $1.18 for the second quarter of 2012; EPS of $1.25 for the third quarter of 2012; EPS of $1.03 for the fourth quarter of 2012; EPS of $4.40 for fiscal 2012. Full Article
DeVry Inc.'s Becker Professional Education Announces Agreement with GE To Provide CPA Exam Review To Employees In China
DeVry Inc.'s Becker Professional Education announced that it has entered into an agreement with GE China to provide, through its licensee in the People’s Republic of China, its complete, four part CPA Exam Review course to GE employees in the People’s Republic of China. Becker will also be providing extensive assistance with the CPA Exam application process to GE China employees. Full Article
DeVry Inc. Comments On H1, H2 And FY 2012 Earnings Guidance; Comments On FY 2012 Revenue Guidance-Conference Call
DeVry Inc. announced that it expect fiscal 2012 total revenue to be up versus fiscal 2011 organically, with the acquisitions of AUC and ATC adding to that growth. Earnings growth for fiscal 2012, while still possible, will be more challenging. First-half of 2012 earnings will be below prior year, given the impact of enrollment deceleration and tougher year-over-year overlaps. The Company expect second-half 2012 earnings to be back up versus prior year, with the full year likely to be plus or minus the fiscal 2011 level. Full Article
DeVry Inc. Announces Acquisition Of American University Of Caribbean
DeVry Inc. announced that it has acquired the business operations of privately held American University of the Caribbean (AUC). AUC’s medical school campus is located in St. Maarten, and its administrative offices are located in Coral Gables, Fla. The acquisition of AUC is consistent with DeVry's growth and diversification strategy, increasing its presence in medical and healthcare education and expanding its academic offerings at the post-baccalaureate level. In addition, AUC has strong partnerships with residency placement hospitals across the United States. Upon closing, DeVry paid $235 million in cash in exchange for all assets of AUC. For the year ending December 31, 2011, AUC’s revenues are expected to be approximately $50 million. DeVry expects AUC to be accretive to earnings per share in fiscal 2012 by about $0.05 per share and increasing thereafter. Mayer Brown served as DeVry Inc.'s legal counsel. DeVry did not utilize an investment bank for this transaction. Credit Suisse acted as financial advisor to AUC and McDermott Will & Emery served as AUC’s legal counsel. The school will become part of DeVry’s Healthcare Group, joining Ross University School of Medicine, Ross University School of Veterinary Medicine, Chamberlain College of Nursing and the Carrington Colleges Group. Full Article
DeVry sees cost savings in 2013, more medical students
* Second-quarter adj earnings per share $0.87 vs est. $0.56
Earnings vs. 
Estimates
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