old article: ITT enrollment, profit on the rise

[aka name]

Title: ITT enrollment, profit on the rise
Date: October 21, 2004
Author: J.K. Wall
[No longer available online. It's old, but compare it to what's happening today; ITT Tech just opened it's 100th location (http://www.insideindianabusiness.com/ne ... p?ID=29378) and the saps keep pouring in. Apparently no one can google "ITT Tech."]

http://www.indystar.com/articles/1/188146-4081-102.html

ITT enrollment, profit on the rise

By J.K. Wall
October 21, 2004

Profit and student enrollment surged at ITT Educational Services Inc. in its third quarter, the company announced this morning.

The three months ended Sept. 30 marked the third consecutive positive quarter for ITT Educational since February when federal agents investigating the company raided the company's headquarters and 10 of its campuses.

But once again, the quarter was marred by the investigation, as well as a shareholder lawsuit and an inquiry by the Securities & Exchange Commission.

ITT Educational set aside another $9.8 million in the third quarter to cover special legal and investigation costs. To date, the company has spent $19 million for legal, investigational and auditing work related to the federal probe. ITT Educational estimated that its total costs related to the probe would top out at $25.1 million, barring some other unforeseen event.

Nevertheless, ITT Educational's profits increased 16.5 percent over the same quarter last year in spite of the extra expenses. Net income was $18.5 million and earnings per diluted share were 39 cents, compared with 34 cents a year ago.

Excluding the special charges, ITT Educational would have earned 52 cents per share. Analysts had predicted 46 cents per share.

New student enrollment rose 14.5 percent to 14,534 and total student enrollment rose 14.2 percent to 42,183.

Chief Executive Rene Champagne said, "This is the largest increase in total student enrollment that the company has ever achieved in the third quarter."

The company's persistence rate, or its rate of student retention, dropped 1.8 percent for the second consecutive quarter. Champagne, in a conference call to analysts, said the rate fell because the company has a larger body of new students, which are the most likely to drop out.

He also blamed negative news reports related to a shareholder lawsuit against the company and the series of hurricanes that hit southeastern states this summer. Without the hurricanes, Champagne said, new student enrollment would have grown by 15.7 percent.

The persistence rate decline had some dampening impact on revenues, which increased 17.5 percent in the quarter to $157.9 million compared with the same quarter a year ago.

After the news, shares of ITT Educational rose $2.07, or nearly 6 percent, to $37.50 in late-morning trading.

Source: http://www.indystar.com/articles/1/188146-4081-102.html

[sevenalive]

Ya i know, its sad for them to get scammed. I have no remorse when i straight up tell someone ITT, Devry, Collins, Phoenix and any other school like them is a scam. When i tell them the facts and tell me i am wrong, or its not like that, i feel no pity. They will figure it out soon enough, looking back when that guy warned me and i didn't listen to him.

[aka name]

They will figure it out soon enough,

Maybe not:

ITT Educational Services is the Carmel, Ind.,-based private company that operates more than 100 technical schools, including ITT Technical Institute in South Bend. ITT Educational Services reported national enrollment of 69,127 for the second quarter, up from 54,793 a year earlier — a 26 percent increase.

For-profit college enrollment on the rise - September 07. 2009

[Spectre]

I just recently graduated and the school I was attending some teachers were saying there was a real high enrollment for this fall. I tell you what just looking at half these people I wouldn't hire them. Tattoos and piercings all over and well Ill just leave it at that I could go on for a while about them.