The Company’s two regionally accredited universities – Colorado Technical University (“CTU”) and American InterContinental University (“AIU”) – provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels. 512 reviews from Perdoceo Education Corporation employees about Perdoceo Education Corporation culture, salaries, benefits, work-life balance, management, job security, and more. COMPREHENSIVE INCOME (In thousands, except per share amounts and percentages) For the Quarter Ended March 31, 2020 % of. View Perdoceo Education Corporation (perdoceoed.com) location in Illinois, United States , revenue, industry and description. The prior year quarter operating loss for the closed campuses includes a legal settlement expense of $5.0 related to the multi-state AG matter. Total. Total. Adjusted earnings per diluted share of $1.37 compared to adjusted earnings per diluted share of $1.05 for the prior year. First Quarter 2020 Results as Compared to Prior Year Quarter, *See GAAP (U.S. generally accepted accounting principles) to non-GAAP reconciliation attached to this press release, “The COVID-19 pandemic is posing unique challenges to our society, and our highest priority is the well-being of our students, employees and communities. FOURTH QUARTER 2019 RESULTS AS COMPARED TO THE PRIOR YEAR QUARTER, Revenue increased by 8.9 percent to $158.5 million as compared to $145.5 million with both universities contributing to this growth, Operating income increased 58.6 percent to $32.0 million as compared to $20.2 million, Adjusted operating income increased 16.3 percent to $34.6 million as compared to $29.7 million*, Earnings per diluted share of $0.38 as compared to earnings per diluted share of $0.20, Adjusted earnings per diluted share of $0.33 as compared to $0.30*, Ended the quarter with $294.2 million in cash, cash equivalents and available-for-sale short-term investments, CTUâs total student enrollments increased 4.4 percent supported by new student enrollment growth of 8.5 percent, AIUâs total student enrollments increased 10.2 percent supported by new student enrollment growth of 12.7 percent, FULL YEAR 2019 RESULTS AS COMPARED TO THE PRIOR YEAR AND OTHER HIGHLIGHTS, *See GAAP (U.S. generally accepted accounting principles) to non-GAAP reconciliation attached to this press release, âWe are excited to continue the journey of educating students under our new name, Perdoceo, which in Latin means âto teach, inform or instruct thoroughly,ââ said Todd Nelson, President and Chief Executive Officer. Under his leadership, Career Education grew to include over 24 U.S. campuses. Supported by our scalable and innovative technology infrastructure we have transitioned campus-based students to our online learning platforms. For the full year 2019, approximately $29.7 million is now considered deductible for tax purposes. NET INCOME AND EARNINGS PER DILUTED SHARE. This Platform is intended for and applicable only for residents of the United States. As of March 31, 2020 and December 31, 2019, cash, cash equivalents, restricted cash and available-for-sale short-term investments totaled $285.6 million and $294.2 million, respectively. CURRENT ASSETS: The outlook continues to reflect the Company’s expectation of growth in new and total student enrollments at both universities for the full year of 2020. Asset impairment relates to a right of use asset for one of our vacated facilities for which the sublease income was deemed no longer recoverable. Perdoceo Education Corporation (PEC), formerly known as Career Education Corporation has made a career of handing out diplomas. Further information about these and other relevant risks and uncertainties may be found in the Companyâs Annual Report on Form 10-K for the year ended December 31, 2019 and its subsequent filings with the Securities and Exchange Commission. ... perdoceo education corporation and subsidiaries. The Platform is owned or controlled by Perdoceo Education Corporation ("Company"). Corporate and Other includes closed campuses which no longer meet the criteria to be reported as a separate operating segment. For the year ended December 31, 2019, net cash provided by operating activities was $73.1 million compared to net cash provided by operating activities of $57.0 million for the prior year. REVENUE: Tuition and fees $ 514,364. For the quarter ended March 31, 2020, total revenue of $171.0 million increased 8.3 percent compared to total revenue of $157.9 million for the prior year quarter. The tax effect of adjustments was calculated by multiplying the pre-tax adjustments with a tax rate of 25.0%. OTHER COMPREHENSIVE (LOSS) INCOME, net of tax: UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. 99.6 % Other. Perdoceo Education Corporation today reported operating and financial results for the quarter and year to date ended September 30, 2020. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share amounts and percentages) For the Year to Date Ended September 30, 2020 % of Total Revenue. Non-GAAP financial measures, when viewed in a reconciliation to corresponding GAAP financial measures, provide an additional way of viewing the Companyâs results of operations and the factors and trends affecting the Companyâs business. In addition, decisions we make in the future as we continue to evaluate diverse strategies to enhance shareholder value may impact the outlook provided above. about: perdoceo education corporation (prdo) view as pdf united states securities and exchange commission ... career education corporation and subsidiaries condensed consolidated balance sheets For the quarter ended December 31, 2019, net cash used in operating activities was $12.3 million compared to net cash provided by operating activities of $38.7 million for the prior year quarter. Perdoceo Education Corporation Revenue increased by 8.3 percent to â¦ The Company expects AIU’s enrollment days for the third and fourth quarters of 2020 to be relatively comparable to the respective prior year periods. Investors: PERDOCEO EDUCATION CORPORATION AND SUBSIDIARIES. The fourth quarter of 2019 included a $30.0 million payment to the U.S. Federal Trade Commission, which amount was previously held in escrow and recorded as restricted cash. Lease expenses for vacated space include both fixed and variable lease costs offset with sublease income for our closed campuses. Revenue . Career Education Corporation (CEC) is the Schaumburg-based for-profit college operator. SCHAUMBURG, Ill.--(BUSINESS WIRE)--Perdoceo Education Corporation (NASDAQ: PRDO) today reported operating and financial results for the quarter and year ended December 31, 2019. A listing of university locations and web links to Perdoceo institutions can be found at www.perdoceoed.com. There has been no material impact to our operating results from the COVID-19 pandemic thus far, but we continue to closely monitor future developments and will strive to optimize our resources to best serve our students. 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