American Public Education 4th-quarter net income rises 66 percent as student enrollment climbs

American Public Education 4Q net income up 66 pct

CHARLES TOWN, W.Va. — Online university company American Public Education Inc. said Monday its fourth-quarter earnings rose 66 percent, as more students enrolled and signed up for classes.

Investors sent shares up $1.51, or 3.8 percent, in after-hours trading. During the regular session, the stock slipped 85 cents, or 2.1 percent, to close at $39.49.

For the three months ended Dec. 31, the company said its net income jumped to $8.4 million, or 44 cents per share, from $5 million, or 27 cents per share in the comparable 2008 quarter.

Revenue increased 39 percent to $43.7 million from $31.5 million in the same quarter a year earlier.

On both measures, the company performed better than Wall Street was expecting. Analysts surveyed by Thomson Reuters had forecast net income of 42 cents per share on $42.8 million in revenue.

American Public Education, the parent company of online learning provider American Public University System, said net course registrations rose 39 percent from the year-ago quarter. At the end of the year, 63,800 students were enrolled in the system, 41 percent more than at the end of 2008.

For the full year, American Public Education said its net income jumped 48 percent to $23.9 million, or $1.27 per share from $16.2 million, or 86 cents per share.

Revenue rose 39 percent to $149 million from $107.1 million in 2008.