DeVry Inc. - Growth And Income - Zacks Rank Buy

DeVry Inc. (DV) recently reported a strong fiscal second quarter. Earnings of $1.00 per share topped the previous year's 59 cents and exceeded the Zacks Consensus Estimate by 20.5%.

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.

Excellent Results

The company recently reported a strong fiscal second quarter. Earnings of $1.00 per share topped the previous year's 59 cents and exceeded the Zacks Consensus Estimate by 20.5%. Revenues of $904.1 million were up 34% year-over-year.

"At a time when state budget cuts and shrinking endowments are making it difficult for colleges and universities to meet the increasing demand for quality education in this country, the private sector is playing an important role in helping to educate our country's workforce and ensuring that we remain competitive in the global marketplace," said Daniel Hamburger, DeVry's president and chief executive officer. "We are proud to be a part of the solution and are committed to helping our students meet their career aspirations."

Forecasts are Up

The Zacks Consensus Estimate advanced on the strong quarter. For the fiscal year ending June 2010, projections of $3.36 per share are up from $3.23 over the past week. For the following year, forecasts of $4.05 were increased from $3.92 over the past week .
Zacks Investment Research