Strayer Education Reports First Quarter 2011 Revenues and Earnings

Strayer Education STRA today announced financial results for the three months ended March 31, 2011. Financial highlights are as follows: Three Months Ended March 31 Revenues for the three months ended March 31, 2011 increased 9% to $172.0 million, compared to $157.9 million for the same period in 2010, principally due to increased enrollment and a 5% tuition increase which commenced in January 2011. Income from operations was $59.2 million compared to $59.9 million for the same period in 2010, a decrease of 1%. Operating income margin was 34.4% compared to 38.0% for the same period in 2010. Net income was $35.8 million compared to $36.4 million for the same period in 2010, a decrease of 2%. Diluted earnings per share was $2.80 compared to $2.65 for the same period in 2010, an increase of 6%, reflecting a lower share count due to share repurchases. Diluted weighted average shares outstanding decreased to 12,794,000 from 13,729,000 for the same period in 2010.