DeVry Inc. Beats on Top and Bottom Lines (DV)

DeVry Inc. DV reports Q4 EPS of $0.99 versus estimates of $0.82. DeVry Inc. reports Q4 revenues of $506.7 million versus estimates of $487.2 million. During the fourth quarter of fiscal 2010, DeVry repurchased 321,521 shares of its common stock at a cost of approximately $19.0 million, or $59.09 per share. As of June 30, 2010, 422,021 shares of DeVry stock have been purchased as part of the current program for a total of $25.4 million at an average cost of $60.11 per share. DeVry's board of directors has authorized a fourth share repurchase program, which allows the company to buy back up to $50 million of its common stock through June 30, 2012. The new program will commence upon completion of the existing $50 million program. "Fiscal 2010 was a strong year driven by our ongoing investments in quality," said Daniel Hamburger, DeVry's president and chief executive officer. "These solid financial results are an outgrowth of our strong academic results and will provide the resources to support our investments in academic quality, student services and capacity growth in the future." Shares of DV are lower in the after-hours by 0.68%.