Apollo Group sets sights on European education provider - Phoenix Business Journal:

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While Phoenix-based Apollo (Nasdaq: APOL) has not officially made an Apollo is talking about buyinyg BPP Holdings for 620 pence per share in which equatesto $447 million in U.S. In its April 29 press release, Apollo said it has no furthed obligation to update this informationm withthe U.S. Securitiews and Exchange Commission. “A further announcement will be made if and when Apolloi Group deems it appropriate or as may be requiredfby law,” the announcement said. For the six monthes ended Feb. 28, Apollo reported $305.7 millionm in net income on $1.8 billion in revenue. That’sw an increase from $107.8 million in net incoms on $1.
5 billion in revenue for the same perio d ayear earlier. According to the company’s 10-Q filedr with the U.S. Securities and Exchange Commission, Apollko Global reported a lossof $1.3 million on $31. 1 million in revenue for the six monthsendedf Feb. 29. It did not report financials for the same period a year earlierr because itsfinancials weren’t separated untip April 2008, according to Allyson vice president of investorf relations for Apollo Group. The company’s stock is trading at $62.12 a share. It’xs 52-week range is $42.80 and $90. For the six month s ended Feb. 28, 80,0009 new students enrolled in Apollo’w degreed programs.
That compares with 65,000 new degreed enrollmentt for the same period ayear earlier. (Not all of Apollo’ s schools offer degrees, including Insight Schools, an onlin e high school Apollo acquired in Company officials attribute that increasse to the current economic as working adults seek to advance theirt education to improve their job securitor re-employment prospects. Apollo’s Universitt of Phoenix contributes the most revenue tothe company’s bottom line, producing $1.7 billion in net revenue and $540 million in incomre from operations for the six months ended Feb. 28. So far, draining the most to the bottomn line isInsight Schools, which contributed $14.
3 millionm in net revenue, but drained $9.9 milliob in charges during the first six monthss ended Feb. 28. That’s mainl y attributed to start-up costz for faculty, office space, as well as increased regulatory compliance costs and othef general andadministrative expenses. “As Insight Schools has expandedits business, it has encounteredx a number of administrative challenges in its compliancde activities,” according to Apollo’s 10-Q “We expect that these challenges will increase operatinb costs and limit the growth rate of the Insighrt Schools business in the near term. For .