Net Income and Earnings Per Share Increase
First quarter net income was $43.7 million or $0.65 per diluted share, compared to $39.4 million or $0.59 per diluted share in the previous year. Adjusted earnings per diluted share was $0.70, up from $0.60.
Revenue Growth
First quarter revenue increased by 26.6% to $213 million, compared to $168.3 million in the prior year quarter. This growth was supported by the St. Augustine acquisition and organic growth at CTU.
St. Augustine Acquisition Impact
The acquisition of St. Augustine contributed $39.2 million to revenue and is expected to positively impact operating income growth in 2025 and beyond.
Enrollment Increase at CTU
Total enrollments at CTU increased by 10.6% compared to the prior year, driven by high levels of student retention and engagement.
Capital Return to Shareholders
The company returned $34.4 million to shareholders through dividends and stock repurchases, buying back 985,000 shares during the quarter.