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Certain information contained in this presentation may constitute forward-looking statements subject to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected or implied by these forward-looking statements. Potential risks, uncertainties and other factors that could cause results to differ are described in the Company's most recent Annual Report on Form 10-K for the year ending June 30, 2005 filed with the SEC on September 13, 2005. In particular, this information is set forth in the section entitled "Forward Looking Statements" at the beginning of Part I and in the subsections of "Item 1 - Business" entitled "Competition," "Student Recruiting," "Accreditation and Approvals," "Tuition and Fees," "Financial Aid and Financing Student Education," "Career Services” and “Faculty."
Certain information contained in this presentation may constitute forward-looking statements subject to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected or implied by these forward-looking statements. Potential risks, uncertainties and other factors that could cause results to differ are described in the Company's most recent Annual Report on Form 10-K for the year ending June 30, 2005 filed with the SEC on September 13, 2005. In particular, this information is set forth in the section entitled "Forward Looking Statements" at the beginning of Part I and in the subsections of "Item 1 - Business" entitled "Competition," "Student Recruiting," "Accreditation and Approvals," "Tuition and Fees," "Financial Aid and Financing Student Education," "Career Services” and “Faculty."
Forward-Looking StatementsForward-Looking Statements
ASSOCIATES
BACHELOR’S
MASTERS
PhD-MD-DVM
Meeting Market DemandMeeting Market Demand
► Largest division
► 46,000+ students (Fall 2005)
► 81 locations across North America
– Campuses
– Centers
► Online options
– Mix and match
– Hybrid
► Largest division
► 46,000+ students (Fall 2005)
► 81 locations across North America
– Campuses
– Centers
► Online options
– Mix and match
– Hybrid
DeVry University Degree ProgramsDeVry University Degree ProgramsMaster’sMaster’s Bachelor’sBachelor’s AssociateAssociate
Accounting & Financial Accounting & Financial ManagementManagement
Biomedical Engineering Biomedical Engineering TechnologyTechnology
Accounting TechnologyAccounting Technology
Business AdministrationBusiness Administration Biomedical InformaticsBiomedical Informatics Electronics & Computer Electronics & Computer TechnologyTechnology
Human Resource ManagementHuman Resource Management Business AdministrationBusiness Administration Health Information TechnologyHealth Information Technology
Information Systems Information Systems ManagementManagement
Computer Engineering Computer Engineering TechnologyTechnology
Network Systems Network Systems AdministrationAdministration
Project ManagementProject Management Computer Information SystemsComputer Information Systems
Public AdministrationPublic Administration Electronics Engineering Electronics Engineering TechnologyTechnology
Telecommunications Telecommunications ManagementManagement
Information TechnologyInformation Technology
Network & Communications Network & Communications ManagementManagement
Technical ManagementTechnical Management
Game & Simulation Game & Simulation ProgrammingProgramming
New Student EnrollmentNew Student Enrollment
Spring2006
Spring2006
+16.4%(Over 2005)
+16.4%(Over 2005)
Summer2005
Summer2005
+7.3%(Over 2004)
+7.3%(Over 2004)
Fall2005Fall
2005
+6.4%(Over 2004)
+6.4%(Over 2004)
Technology SectorTechnology Sector
Technology slow to recover
► Layoffs at technology companies
► Perceptions about outsourcing
► Low production of new engineers andtechnology workers in U.S. comparedto China and India
Technology slow to recover
► Layoffs at technology companies
► Perceptions about outsourcing
► Low production of new engineers andtechnology workers in U.S. comparedto China and India
Engineering GraduatesEngineering Graduates
Study published October 13, 2005, by National AcademiesStudy published October 13, 2005, by National Academies
70,000U.S.
70,000U.S.
350,000India
350,000India
600,000China
600,000China
2005 Enrollment Results2005 Enrollment Results
September2005
September2005
+5%(Over 2004)
+5%(Over 2004)
January2006
January2006
+9.4%(Over 2005)
+9.4%(Over 2005)
March2006
March2006
+12.3%(Over 2004)
+12.3%(Over 2004)
► One of world’s largest medical and veterinary schools
► Over 6,000 alumni
► U.S.-modeled curriculum
► New student enrollment increased67.5% compared to January 2005
► Enhanced marketing efforts and outreach
► Adding capacity to meet enrollment demand
► One of world’s largest medical and veterinary schools
► Over 6,000 alumni
► U.S.-modeled curriculum
► New student enrollment increased67.5% compared to January 2005
► Enhanced marketing efforts and outreach
► Adding capacity to meet enrollment demand
Deaconess College of NursingDeaconess College of Nursing
► 500 students
► Bachelor’s and associate degree programs
► Onsite and online delivery
► Nursing shortage
► Possible co-location with DeVry University sites
► Expansion pending state approvals
► 500 students
► Bachelor’s and associate degree programs
► Onsite and online delivery
► Nursing shortage
► Possible co-location with DeVry University sites
► Expansion pending state approvals
► Nearly 40,000 students enrolled in 2005
► Posted record revenue in 2005: $44M
► Poised for record year in 2006
► Acquired CPE business
► New marketing and international expansion initiatives
► Nearly 40,000 students enrolled in 2005
► Posted record revenue in 2005: $44M
► Poised for record year in 2006
► Acquired CPE business
► New marketing and international expansion initiatives
$568.1
$648.1$679.6
$784.9 $781.3
$0
$300
$600
$900
2001 2002 2003 2004 2005
$568.1
$648.1$679.6
$784.9 $781.3
$0
$300
$600
$900
2001 2002 2003 2004 2005
Annual RevenuesAnnual RevenuesIn MillionsIn Millions
$57.8
$67.1$61.1
$58.1
$28.5*
$0
$10
$20
$30
$40
$50
$60
$70
2001 2002 2003 2004 2005
$57.8
$67.1$61.1
$58.1
$28.5*
$0
$10
$20
$30
$40
$50
$60
$70
2001 2002 2003 2004 2005
Net IncomeNet IncomeIn MillionsIn Millions
*Results include non-recurring pre-tax charges of $10.3M*Results include non-recurring pre-tax charges of $10.3M
$201.9$220.2
$0
$50
$100
$150
$200
$250
2005 2006
$201.9$220.2
$0
$50
$100
$150
$200
$250
2005 2006
RevenueRevenue
In MillionsIn MillionsThird QuarterThird Quarter
+9%+9%
$584.8$626.9
$100
$200
$300
$400
$500
$600
$700
2005 2006
$584.8$626.9
$100
$200
$300
$400
$500
$600
$700
2005 2006
RevenueRevenue
In MillionsIn Millions
First Nine MonthsFirst Nine Months
+7.2%+7.2%
$10.9
$15.7
$0
$3
$6
$9
$12
$15
$18
2005 2006
$10.9
$15.7
$0
$3
$6
$9
$12
$15
$18
2005 2006
Net IncomeNet Income
In MillionsIn Millions
Third QuarterThird Quarter
+44%+44%
$17.7
$31.2
$0
$5
$10
$15
$20
$25
$30
$35
2005 2006
$17.7
$31.2
$0
$5
$10
$15
$20
$25
$30
$35
2005 2006
Net IncomeNet Income
In MillionsIn Millions
First Nine MonthsFirst Nine Months
+77%+77%
Vision & Strategy for the Future Recapture Operating Leverage
Vision & Strategy for the Future Recapture Operating Leverage
► Re-establish younger student population
► Meet the needs of adult students
► Further program diversification
► Online student growth
► Geographic expansion
► Optimization of existing sites
► Re-establish younger student population
► Meet the needs of adult students
► Further program diversification
► Online student growth
► Geographic expansion
► Optimization of existing sites
TechnologyTechnology BusinessBusiness
HealthcareHealthcare
Program DiversificationProgram Diversification
► 11 Concentrations within BSBA
► Biomedical Technology Programs
► Game & Simulation Programming
► Accounting Technology
► Healthcare: Medical, Veterinary Medical and Nursing
► 11 Concentrations within BSBA
► Biomedical Technology Programs
► Game & Simulation Programming
► Accounting Technology
► Healthcare: Medical, Veterinary Medical and Nursing
BSTMBSTMHITHITBMETBMET
BMIBMI
Real Estate StrategyOptimize Our Large Campus Footprint
Real Estate StrategyOptimize Our Large Campus Footprint
Category 1Category 1 Category 2Category 2 Category 3Category 3
Robust daytime Robust daytime enrollmentsenrollments
Weak daytime Weak daytime enrollmentsenrollments
Weak daytime Weak daytime enrollmentsenrollments
Primarily serve high Primarily serve high school marketschool market
Near term lease Near term lease expirations or high expirations or high property valuesproperty values
Longer term lease Longer term lease obligations or lower obligations or lower property valuesproperty values
Outcome:Outcome:
Retain facilityRetain facility
Outcome:Outcome:
Sell and relocate or Sell and relocate or leaseback spaceleaseback space
Outcome:Outcome:
Analyze on site-by-site Analyze on site-by-site basisbasis
Enhance the Student ExperienceEnhance the Student Experience
► Student life
► Student services
► Consistent brand awareness
► Student life
► Student services
► Consistent brand awareness
Vision StatementVision Statement
DeVry will become the leading global providerof career-oriented educational services. We willcreate value for society and all our stakeholders by offering:
► Superior, responsive educational programs, that are
► Supported by exceptional service to students, and
► Delivered with accountability and integrity
DeVry will become the leading global providerof career-oriented educational services. We willcreate value for society and all our stakeholders by offering:
► Superior, responsive educational programs, that are
► Supported by exceptional service to students, and
► Delivered with accountability and integrity
Investment ConsiderationsInvestment Considerations
► Nationally recognized brands synonymous with high-quality education
► Strong market demand for education
► Opportunity to significantly increase operating leverage
► Management committed to implementation of growth plan
► Nationally recognized brands synonymous with high-quality education
► Strong market demand for education
► Opportunity to significantly increase operating leverage
► Management committed to implementation of growth plan
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