Key Developments For Grand Canyon Education, Inc.
Grand Canyon Education, Inc. (LOPE.O) (Consolidated Issue listed on NASDAQ Global Market)
Grand Canyon Education, Inc. Issues Q4 2009 EPS Guidance Above Analysts' Estimates; Issues FY 2010 Guidance Above Analysts' Estimates
Grand Canyon Education, Inc. announced that for fourth quarter 2009 it expects diluted net income per share to be $0.26 per share. The Company expects fiscal 2010 net revenues to be between $390 million and $400 million and diluted net income per share to be between $1.15 and $1.23 per share. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.25 for fourth quarter 2009; revenue of $364 million and EPS of $0.99 for fiscal 2010.
Grand Canyon Education, Inc. Announces Pricing Of Public Offering Of Common Stock
Grand Canyon Education, Inc. announced the pricing of its public offering of shares of its common stock at $16.50 per share (before the underwriting discount). The offering is expected to close on September 18, 2009. The 6,000,000 shares being sold in the offering consist of 1,000,000 shares being sold by the Company and an aggregate of 5,000,000 shares being sold by Endeavour Capital, the Company's largest outside investor, and the Richardson family, including Brent D. Richardson, the Company's Executive Chairman, and Christopher C. Richardson, the Company's General Counsel and director. The Company will use the proceeds it receives to pay the estimated offering expenses and for working capital and other general corporate purposes. The Company will not receive any of the proceeds from the sale of common stock by the selling stockholders. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 900,000 shares at the public offering price to cover over-allotments, if any. Credit Suisse Securities (USA) LLC and BofA Merrill Lynch are acting as joint book-running managers and joint lead managers for the offering. BMO Capital Markets, William Blair & Company, Piper Jaffray, and Barrington Research are the co-managers for the offering.
Grand Canyon Education, Inc. Issues Q3 2009 Guidance; Revenue Guidance Above Analysts' Estimates; Raises FY 2009 Guidance
Grand Canyon Education, Inc. announced that for the third quarter 2009, it expects net revenue to grow by 61.4% to $63.5 million from $39.3 million in the third quarter 2008 and diluted net income per share to be $0.13 per share. For fiscal 2009, the Company expects net revenues to be between $260.5-$262 million and diluted net income per share to be between $0.66-$0.67 per share. According to Reuters Estimates, analysts were expecting the Company to report revenue of $62.2 million and EPS of $0.13 for the third quarter 2009; revenue of $256.4 million and EPS of $0.63 for fiscal 2009.
Grand Canyon Education, Inc. Issues Q2 2009 Guidance; Revenue Guidance Above Analysts' Estimates; Raises FY 2009 Guidance
Grand Canyon Education, Inc. announced that for the second quarter of 2009, it expects net revenues to grow by 67.8% to $58 million and diluted earnings per share (EPS) to be $0.10 per share. For fiscal 2009, the Company raised its guidance and expect net revenues to be between $254 and $258 million and diluted EPS to be between $0.60 and $0.64 per share. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.10 on revenue of $57 million for the second quarter of 2009; EPS of $0.55 on revenue of $253 million for fiscal 2009.
Grand Canyon Education, Inc. Issues Q1 2009 Guidance; Revenue Guidance Above Analysts' Estimates; Issues FY 2009 Guidance Above Analysts' Estimates
Grand Canyon Education, Inc. announced that for the first quarter 2009, it expects net revenues to grow by 60% to $57.0 million and diluted earnings per share (EPS) to be between $0.08-$0.10 per share. For fiscal 2009, the Company expects net revenues to be between $250-$255 million and diluted EPS to be between $0.52-$0.57 per share. According to Reuters Estimates, analysts were expecting the Company to report revenue of $54.0 million and EPS of $0.08 for the first quarter 2009; revenue of $239 million and EPS of $0.48 for fiscal 2009.
