Apollo Group, Inc. (NASDAQ: APOL) is an S&P 500 corporation based in the South Phoenix area of Phoenix, Arizona. Apollo Group, Inc., through its subsidiaries, owns several for-profit educational institutions.
The company owns and operates four higher-learning institutions: the University of Phoenix, Western International University, Axia College (of University of Phoenix), the College for Financial Planning, the Institute for Professional Development. It also owns Insight Schools (Online Public High Schools for Washington, Wisconsin, and other locations), and Olympus High School. As of November 2005, the combined enrollment of the four U.S. domestic universities (UOPX, WIU, Axia, CFFP) was approximately 315,350 students. Of these, nearly 90% attend the University of Phoenix, which Apollo describes as "the nation’s largest regionally accredited private university" [3].
As of September 2008 the company also owns and operates Meritus University (Meritus) in Canada.[2] On January 24, 2011, citing how "enrollment will continue to be insufficient to sustain the required quality academic and student service infrastructure we and our students demand", Meritus University announced its closure, with their last classes taking place on March 14, 2011. Additionally, Apollo Group, Inc is the owner of BPP, and joined forces with Carlyle Group for tactical investments in education to expand student base. Apollo also purchased UNIACC college in Santiago, Chile and ULA college in Mexico
Apollo Group, Inc. (Apollo Group), incorporated in 1981, is a private education provider. The Company offers educational programs and services both online and on-campus at the undergraduate, master’s and doctoral levels through its wholly owned subsidiaries, The University of Phoenix, Inc. (University of Phoenix); Institute for Professional Development (IPD); The College for Financial Planning Institutes Corporation (CFFP), and Meritus University, Inc. (Meritus). Apollo Group also formed a joint venture with The Carlyle Group (Carlyle), called Apollo Global, Inc. (Apollo Global), to pursue investments primarily in the international education services industry. Apollo Group owns 85.6% of Apollo Global, with Carlyle owning the remaining 14.4%.
University of Phoenix offers associate’s, bachelor’s, master’s and doctoral degrees in a variety of program areas. University of Phoenix offers its educational programs worldwide through its online education delivery system and at its campus locations and learning centers in 39 states, the District of Columbia and Puerto Rico. University of Phoenix’s online programs are designed to provide uniformity with University of Phoenix’s on-campus programs. University of Phoenix has customized systems for academic quality management, faculty recruitment and training, student tracking and marketing. University of Phoenix’s net revenue represented approximately 91% of its consolidated net revenue during the fiscal year ended August 31, 2010 (fiscal 2010).
IPD provides program development, administration and management consulting services to private colleges and universities (Client Institutions) to establish or expand their programs for working learners. These services include degree program design, curriculum development, market research, student recruitment, accounting, and administrative services. CFFP provides financial services education programs, including a Master of Science in three majors, and certification programs in retirement, asset management, and other financial planning areas. CFFP offers these programs online.
Meritus offers degree programs online to working learners throughout Canada and abroad.
BPP Holdings plc (BPP) is a provider of education and training to professionals in the legal and finance industries. BPP provides these services through schools located in the United Kingdom, a European network of BPP offices, and the sale of books and other publications globally. Western International University, Inc. (Western International University) offers associate’s, bachelor’s and master’s degrees in a variety of program areas as well as certificate programs. Western International University offers its undergraduate program courses at its Arizona campus locations and online at Western International University Interactive Online.
Universidad de Artes, Ciencias y Comunicacion (UNIACC) is an arts and communications university, which offers bachelor’s and master’s degree programs on campuses in Chile and online. Universidad Latinoamericana (ULA) carries authorization from Mexico’s Ministry of Public Education (Secretaria de Educacion Publica), from the National Autonomous University of Mexico (Universidad Nacional Autonoma de Mexico) for its high school and undergraduate psychology and law programs and by the Ministry of Education of the State of Morelos (Secretaria de Educacion del Estado de Morelos) for its medicine and nutrition programs. ULA offers degree programs at its four campuses throughout Mexico. Apollo Global purchased a 65% ownership interest in ULA in August 2008 and purchased the remaining ownership interest in July 2009.
While most students utilize the classroom setting for their educational experience, the demand and need for flexibility and alternatives in educational delivery exists so, in 1989, the company began distance learning modality by offering its educational programs throughout the world via UOP's Distance and Online Education and CPEInternet, their computerized educational delivery system, joining the growing trend of distance learning. As late as 1993, less than 93 "cyberschools" existed. However, by 1997, according to an Arizona-based company called InterEd, there were some 762 cyberschools and approximately half of the over 2,000 four-year colleges and universities in the United States had online classes available, including Washington State University, Pullman; California State University, Dominguez Hills, and Duke University's Fuqua School of Business's Global Executive M.B.A. Program, and vocational schools such as National Technological University (Fort Collins, Colorado); New York Institute of Technology's On-Line Campus (Central Islip, New York), and New School for Social Research (New York, New York). Also in 1997, it was estimated that over one million students took classes online, compared to 13 million who attended on-campus classes and that this number would triple in the next few years. The University of Phoenix Center for Distance Education (CDE) is able to deliver degree programs to students anywhere in the world if they have access to phone, fax, or postal communications through Directed Study. Course work is completed through independent study while interacting with the instructor via fax, phone, e-mail, or their fax/voice messaging.
From September 1991 through August 1996, UOP opened 26 campuses and learning centers and IPD established 13 campuses and learning centers with its client institutions. The company also adopted a plan in March 1992 to discontinue the operations of its technical training schools and these operations were phased out from March 1992 through 1993.
In September 1995, Apollo Group acquired certain assets of Western International University. Western International University was created as a private nonprofit educational institution and was accredited by The North Central Association of Colleges and Schools and was also incorporated in 1978. Apollo Group created a new wholly owned subsidiary called Western International University (WIU). By 1996, WIU had 1,200 working adult students at campuses and learning centers in Arizona and London; a large portion of their students came from more than 40 different countries to learn English as a Second Language and continue on to pursue a degree in higher education. WIU's mission was to provide the educational foundation needed to prepare its students to achieve their full potential in a dynamic and complex global marketplace; the university offered undergraduate and graduate degree programs at four campuses and learning centers in Phoenix, Fort Huachuca, and Douglas, Arizona; and London, England.
Starting with 68 campuses and learning centers in August 1995, Apollo Group grew to 85 one year later and enrollment more than doubled from 21,163 to 46,935, with campuses from San Diego to New Orleans, Honolulu to Guaynabo, Puerto Rico. The Institute for Professional Development increased the number of contracts it held with private universities from 15 to 18, with 83 percent of these contracts extending beyond the year 2000.
1997 and Beyond
By mid-1997, the company opened nine new UOP learning centers in Los Alamos, New Mexico; Phoenix; the 32nd Street Naval Base in San Diego; Rancho Bernardo, Stockton, Ontario, Pleasanton, and Pasadena, California; and Las Vegas; IPD opened a new learning center for Albertus Magnus College in Stanford, Connecticut; and the company had plans to open several additional campuses and learning centers and to expand its product offerings to address increased market demands.
In April 1998 the company authorized a three-for-two split of its common stock. Two months later, Apollo announced that it would open--through its University of Phoenix subsidiary--two new campuses in Oklahoma as well as one in Vancouver, British Columbia. In addition, the company gained state licensure in Maryland and was pursuing approval from the North Central Association of Colleges and Schools prior to opening a location in that state. Such expansion augured well for Apollo, which by then was serving some 66,000 degree-seeking students and continually positioning itself as a leading provider of higher education for working adults.
Principal Subsidiaries: Institute for Professional Development (IPD); University of Phoenix (UOP); Western International University (WIU); College for Financial Planning.
OVERALL
Beta: 0.18
Market Cap (Mil.): $5,668.37
Shares Outstanding (Mil.): 141.60
Annual Dividend: --
Yield (%): --
FINANCIALS
APOL.O Industry Sector
P/E (TTM): 15.25 16.04 20.45
EPS (TTM): -36.37 -- --
ROI: 19.67 2.79 7.81
ROE: 29.70 4.15 14.13
Statistics:
Public Company
Incorporated: 1981
Employees: 5,319
Sales: $283.5 million (1996)
Stock Exchanges: NASDAQ
Ticker Symbol: APOL
SICs: 8221 Colleges, Universities & Professional Schools; 6719 Offices of Holding Companies, Not Elsewhere Classified
Name Age Since Current Position
Sperling, John 89 2008 Executive Chairman of the Board
Cappelli, Gregory 43 2009 Co-Chief Executive Officer, Director
Edelstein, Charles 50 2009 Co-Chief Executive Officer, Director
D'Amico, Joseph 61 2009 President, Chief Operating Officer
Sperling, Peter 51 2008 Vice Chairman of the Board
Swartz, Brian 37 2010 Chief Financial Officer, Senior Vice President
Pepicello, William 61 2006 President of University of Phoenix, Inc.
Daniels, Timothy 2011 President of Apollo Global Inc
Wrubel, Robert 49 2009 Executive Vice President, Chief Marketing and Product Development Officer
Bishop, Terri 57 2010 Executive Vice President - Integrated Academic Strategies and Senior Advisor to the Chief Executive Officers , Director
Martin, Sean 47 2010 Senior Vice President, General Counsel, Secretary
Newton, Frederick 55 2009 Senior Vice President, Chief Human Resources Officer
Iverson, Gregory 35 2009 Vice President, Chief Accounting Officer, Controller
Herberger, Roy 68 2010 Lead Independent Director
Shupp, Darby 35 2011 Director
DeConcini, Dino 76 2010 Independent Director
Zimmer, George 62 2006 Independent Director
Redman, K. Sue 53 2006 Independent Director
Kirschner, Ann 59 2007 Independent Director
Rivelo, Manuel 46 2009 Independent Director
DiPiazza, Samuel 60 2009 Independent Director
Address:
4615 E. Elwood Street
Phoenix, Arizona 85040
U.S.A.
The company owns and operates four higher-learning institutions: the University of Phoenix, Western International University, Axia College (of University of Phoenix), the College for Financial Planning, the Institute for Professional Development. It also owns Insight Schools (Online Public High Schools for Washington, Wisconsin, and other locations), and Olympus High School. As of November 2005, the combined enrollment of the four U.S. domestic universities (UOPX, WIU, Axia, CFFP) was approximately 315,350 students. Of these, nearly 90% attend the University of Phoenix, which Apollo describes as "the nation’s largest regionally accredited private university" [3].
As of September 2008 the company also owns and operates Meritus University (Meritus) in Canada.[2] On January 24, 2011, citing how "enrollment will continue to be insufficient to sustain the required quality academic and student service infrastructure we and our students demand", Meritus University announced its closure, with their last classes taking place on March 14, 2011. Additionally, Apollo Group, Inc is the owner of BPP, and joined forces with Carlyle Group for tactical investments in education to expand student base. Apollo also purchased UNIACC college in Santiago, Chile and ULA college in Mexico
Apollo Group, Inc. (Apollo Group), incorporated in 1981, is a private education provider. The Company offers educational programs and services both online and on-campus at the undergraduate, master’s and doctoral levels through its wholly owned subsidiaries, The University of Phoenix, Inc. (University of Phoenix); Institute for Professional Development (IPD); The College for Financial Planning Institutes Corporation (CFFP), and Meritus University, Inc. (Meritus). Apollo Group also formed a joint venture with The Carlyle Group (Carlyle), called Apollo Global, Inc. (Apollo Global), to pursue investments primarily in the international education services industry. Apollo Group owns 85.6% of Apollo Global, with Carlyle owning the remaining 14.4%.
University of Phoenix offers associate’s, bachelor’s, master’s and doctoral degrees in a variety of program areas. University of Phoenix offers its educational programs worldwide through its online education delivery system and at its campus locations and learning centers in 39 states, the District of Columbia and Puerto Rico. University of Phoenix’s online programs are designed to provide uniformity with University of Phoenix’s on-campus programs. University of Phoenix has customized systems for academic quality management, faculty recruitment and training, student tracking and marketing. University of Phoenix’s net revenue represented approximately 91% of its consolidated net revenue during the fiscal year ended August 31, 2010 (fiscal 2010).
IPD provides program development, administration and management consulting services to private colleges and universities (Client Institutions) to establish or expand their programs for working learners. These services include degree program design, curriculum development, market research, student recruitment, accounting, and administrative services. CFFP provides financial services education programs, including a Master of Science in three majors, and certification programs in retirement, asset management, and other financial planning areas. CFFP offers these programs online.
Meritus offers degree programs online to working learners throughout Canada and abroad.
BPP Holdings plc (BPP) is a provider of education and training to professionals in the legal and finance industries. BPP provides these services through schools located in the United Kingdom, a European network of BPP offices, and the sale of books and other publications globally. Western International University, Inc. (Western International University) offers associate’s, bachelor’s and master’s degrees in a variety of program areas as well as certificate programs. Western International University offers its undergraduate program courses at its Arizona campus locations and online at Western International University Interactive Online.
Universidad de Artes, Ciencias y Comunicacion (UNIACC) is an arts and communications university, which offers bachelor’s and master’s degree programs on campuses in Chile and online. Universidad Latinoamericana (ULA) carries authorization from Mexico’s Ministry of Public Education (Secretaria de Educacion Publica), from the National Autonomous University of Mexico (Universidad Nacional Autonoma de Mexico) for its high school and undergraduate psychology and law programs and by the Ministry of Education of the State of Morelos (Secretaria de Educacion del Estado de Morelos) for its medicine and nutrition programs. ULA offers degree programs at its four campuses throughout Mexico. Apollo Global purchased a 65% ownership interest in ULA in August 2008 and purchased the remaining ownership interest in July 2009.
While most students utilize the classroom setting for their educational experience, the demand and need for flexibility and alternatives in educational delivery exists so, in 1989, the company began distance learning modality by offering its educational programs throughout the world via UOP's Distance and Online Education and CPEInternet, their computerized educational delivery system, joining the growing trend of distance learning. As late as 1993, less than 93 "cyberschools" existed. However, by 1997, according to an Arizona-based company called InterEd, there were some 762 cyberschools and approximately half of the over 2,000 four-year colleges and universities in the United States had online classes available, including Washington State University, Pullman; California State University, Dominguez Hills, and Duke University's Fuqua School of Business's Global Executive M.B.A. Program, and vocational schools such as National Technological University (Fort Collins, Colorado); New York Institute of Technology's On-Line Campus (Central Islip, New York), and New School for Social Research (New York, New York). Also in 1997, it was estimated that over one million students took classes online, compared to 13 million who attended on-campus classes and that this number would triple in the next few years. The University of Phoenix Center for Distance Education (CDE) is able to deliver degree programs to students anywhere in the world if they have access to phone, fax, or postal communications through Directed Study. Course work is completed through independent study while interacting with the instructor via fax, phone, e-mail, or their fax/voice messaging.
From September 1991 through August 1996, UOP opened 26 campuses and learning centers and IPD established 13 campuses and learning centers with its client institutions. The company also adopted a plan in March 1992 to discontinue the operations of its technical training schools and these operations were phased out from March 1992 through 1993.
In September 1995, Apollo Group acquired certain assets of Western International University. Western International University was created as a private nonprofit educational institution and was accredited by The North Central Association of Colleges and Schools and was also incorporated in 1978. Apollo Group created a new wholly owned subsidiary called Western International University (WIU). By 1996, WIU had 1,200 working adult students at campuses and learning centers in Arizona and London; a large portion of their students came from more than 40 different countries to learn English as a Second Language and continue on to pursue a degree in higher education. WIU's mission was to provide the educational foundation needed to prepare its students to achieve their full potential in a dynamic and complex global marketplace; the university offered undergraduate and graduate degree programs at four campuses and learning centers in Phoenix, Fort Huachuca, and Douglas, Arizona; and London, England.
Starting with 68 campuses and learning centers in August 1995, Apollo Group grew to 85 one year later and enrollment more than doubled from 21,163 to 46,935, with campuses from San Diego to New Orleans, Honolulu to Guaynabo, Puerto Rico. The Institute for Professional Development increased the number of contracts it held with private universities from 15 to 18, with 83 percent of these contracts extending beyond the year 2000.
1997 and Beyond
By mid-1997, the company opened nine new UOP learning centers in Los Alamos, New Mexico; Phoenix; the 32nd Street Naval Base in San Diego; Rancho Bernardo, Stockton, Ontario, Pleasanton, and Pasadena, California; and Las Vegas; IPD opened a new learning center for Albertus Magnus College in Stanford, Connecticut; and the company had plans to open several additional campuses and learning centers and to expand its product offerings to address increased market demands.
In April 1998 the company authorized a three-for-two split of its common stock. Two months later, Apollo announced that it would open--through its University of Phoenix subsidiary--two new campuses in Oklahoma as well as one in Vancouver, British Columbia. In addition, the company gained state licensure in Maryland and was pursuing approval from the North Central Association of Colleges and Schools prior to opening a location in that state. Such expansion augured well for Apollo, which by then was serving some 66,000 degree-seeking students and continually positioning itself as a leading provider of higher education for working adults.
Principal Subsidiaries: Institute for Professional Development (IPD); University of Phoenix (UOP); Western International University (WIU); College for Financial Planning.
OVERALL
Beta: 0.18
Market Cap (Mil.): $5,668.37
Shares Outstanding (Mil.): 141.60
Annual Dividend: --
Yield (%): --
FINANCIALS
APOL.O Industry Sector
P/E (TTM): 15.25 16.04 20.45
EPS (TTM): -36.37 -- --
ROI: 19.67 2.79 7.81
ROE: 29.70 4.15 14.13
Statistics:
Public Company
Incorporated: 1981
Employees: 5,319
Sales: $283.5 million (1996)
Stock Exchanges: NASDAQ
Ticker Symbol: APOL
SICs: 8221 Colleges, Universities & Professional Schools; 6719 Offices of Holding Companies, Not Elsewhere Classified
Name Age Since Current Position
Sperling, John 89 2008 Executive Chairman of the Board
Cappelli, Gregory 43 2009 Co-Chief Executive Officer, Director
Edelstein, Charles 50 2009 Co-Chief Executive Officer, Director
D'Amico, Joseph 61 2009 President, Chief Operating Officer
Sperling, Peter 51 2008 Vice Chairman of the Board
Swartz, Brian 37 2010 Chief Financial Officer, Senior Vice President
Pepicello, William 61 2006 President of University of Phoenix, Inc.
Daniels, Timothy 2011 President of Apollo Global Inc
Wrubel, Robert 49 2009 Executive Vice President, Chief Marketing and Product Development Officer
Bishop, Terri 57 2010 Executive Vice President - Integrated Academic Strategies and Senior Advisor to the Chief Executive Officers , Director
Martin, Sean 47 2010 Senior Vice President, General Counsel, Secretary
Newton, Frederick 55 2009 Senior Vice President, Chief Human Resources Officer
Iverson, Gregory 35 2009 Vice President, Chief Accounting Officer, Controller
Herberger, Roy 68 2010 Lead Independent Director
Shupp, Darby 35 2011 Director
DeConcini, Dino 76 2010 Independent Director
Zimmer, George 62 2006 Independent Director
Redman, K. Sue 53 2006 Independent Director
Kirschner, Ann 59 2007 Independent Director
Rivelo, Manuel 46 2009 Independent Director
DiPiazza, Samuel 60 2009 Independent Director
Address:
4615 E. Elwood Street
Phoenix, Arizona 85040
U.S.A.
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