Looks like layoffs might be post poned
3 replies (most recent on top)
You do realize this is all fake money, right?
"Total enrollment was down at the end of Q2 2016 from the year-ago quarter by 4.2%, compared to a decline of 15.5% at the end of Q2 2015, when compared to the year-ago quarter."
"...Ashford received a letter from the Iowa Department of Education indicating that as a result of the plant's closure, Ashford University's campus in Clinton, Iowa, the Iowa State Approving Agency, the ISAA, would no longer continue to approve Ashford's programs for GI Bill benefits after June the 30th, 2016. This affects all students using the GI Bill, not only students in Iowa. A few weeks later, the Iowa Department of Education agreed to stay there decision by 90 days or until a decision was made on our application by California."
"...we're focusing on improving admissions and marketing efficiency, as well as effectively controlling costs in all areas."
https://finance.yahoo.com/news/edited-transcript-bpi-earnings-conference-025152341.html
they may have made $3 mil, but over the last 6 months they operating loss was $12.9 mil and their net loss was $6.8 mil. NOT VERY PROMISING.
In addition they continue to lose students:
June 2015: 51,049
June 2016: 48,895
That is not good news for them and today's stock prices are reflecting that. I still don't see a legitimate turnaround for BPE anytime soon. I think this will accelerate the consolidation of UoR into Ashford by the end of this year. Look for the Colorado and Iowa call centers to be relocated to San Diego soon.