3-year average:
Revenue Growth: 57%
Profit Growth: 187%
Total Return: 9%
Revenue Growth: 57%
Profit Growth: 187%
Total Return: 9%
Among the most successful of the
for-profit colleges, Bridgepoint Education’s revenues soared to $933
million, up from $85 million, in the five years prior to 2011. The
company attributes its phenomenal growth to the number of students
enrolling for online courses. Last year Bridgepoint had 85,527 online
students along with an additional 1,115 based at its Ashford University
and University of the Rockies campuses. The company now has over 2,000
so-called “admissions counselors” who work the phones to get students to
sign up. However, Bridgepoint’s stock plunged more than 50% in July
when the Western Association of Schools and Colleges denied
accreditation to Ashford College for its failure to comply with certain
standards. The company has since re-applied for accreditation but
announced in August that it would suspend, until further notice, its
practice of providing full-year financial guidance “due to reduced
visibility arising from recent regulatory developments.” -- N.S.
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