American Public Education, Inc. (APEI) is down3.62% during premarket trading at the price of $27.96 after the release of the second-quarter report 2021.
Second Quarter 2021 Earnings Beat the Expectations:
On 9th August 2021, APEI released the second quarter 2021 report. Total revenue was reduced by 5% to $78.0 million for the second quarter of 2021. Total revenue of $82.1 million was reported in the second quarter of 2020.Net income for the second quarter of 2021 was $0.5 million, or $0.03 per diluted share. It was $6.7 million, or $0.45 per diluted share during the same period of 2020. The average diluted shares for the Q2 of 2021 were 18.8 million and were 4.9 million during 2020.
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The drop in Q2 earnings was caused by a $6.7 million decrease in APEI Segment revenue, compensated by a $2.5 million gain in HCN Segment revenue resulting from high student enrollment.
CEO Angela Selden remarked that Q2 earnings revealed the rigorous enrollment process at APUS. It was chiefly because of the blackout at the Army’s new tuition assistance enrollment portal, Army IgnitED.The Army IgnitED started to regulate tuition Assistance and began to enroll students through that portal from the third week of July. The network did not seem to be performing at full capacity because the enrollment ramp has been slow. Despite this, authorities had taken various steps to improve enrollment potential and financial operation, she added.
Appointment of Dr. Katherine Zatz as Chairwoman:
On 6th August 2021, American Public University System (APUS) disclosed the appointment of Dr. Katherine Zatz as chairwoman of its Board of Trustees. A long-time board member, Dr. Zatz succeeded Board Chairman General Alfred M. Gray, the 29th Commandant of the U.S. Marine Corps. Dr. Zatz commented that APUS had created an incredible foundation for making higher education accessible for the military, vets, and other students.
American Public University System Partnered with Miami Dade College:
APUS, on 3rd August 2021, announced the continuation of its commitment to making higher education better.
American Public University System (APUS) and Miami Dade College (MDC) joined hands to enable bachelor and graduate students to get guided academic courses. The offered courses are in business, STEM, cybersecurity, IT, computer sciences, and psychology.
Enrollment of Soldiers through the Army IgnitED Portal:
APUS, on 21st July 2021, announced the active student registrations by the American Military University (AMU) and American Public University (APU). It is through the U.S. Army’s new portal for soldier tuition assistance (TA). APUS remarked that they will remain committed to delivering higher education benefits to soldiers. It will help them to reach their academic goals and serve the country.