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Global education provider Adtalem Global Education has reported net income of $76.9 million for it 2021 fiscal year ending 30 June 2021, compared to net income of $85.3 million reported for fiscal year 2020.

Revenue for the year was $1.11 billion, up from $1.05 billion in 2020.

The Downers Grove, Illinois-based company also reported results for the fourth quarter of its 2021 fiscal year ending 30 June 2021. Its net income for the period was $9 million, down from $256.1 million reported for the fourth quarter of its 2020 fiscal year.

Revenue for the quarter was $280.3 million, up from $259.7 million reported for the fourth quarter of fiscal year 2020.

Adtalem president and chief executive Lisa Wardell said: “Our strong fourth-quarter performance and the completion of the Walden acquisition further position us as a leading healthcare education provider with market-leading scale and breadth. We took advantage of strong demand for our programmes and offerings in the quarter, and we look forward to demonstrating the significant value Walden will bring to our students, employer partners and shareholders.

“It has been a tremendous honour serving as CEO of Adtalem over the last five years. I am incredibly proud of everything we achieved in that time and exceedingly confident in Adtalem’s next phase of growth and impact under Steve Beard’s leadership. As I take on the role of executive chairman of Adtalem’s board of directors, there is no better leader than Steve to continue our growth trajectory as we execute on our workforce solutions strategy.”

Stephen Beard, chief operating officer of Adtalem, added: “Thanks to Lisa’s tireless effort and inspiring leadership, we move into fiscal year 2022 with strong business momentum. This position of strength is driven by the realisation of our workforce solutions strategy; a strategy designed to drive superior student outcomes, meet the critical workforce needs of our employer partners and drive value for our shareholders. I am eager to build upon the solid foundation Lisa has created over the course of her tenure, as we continue to expand access to high-quality education, amplify our social impact and unlock even more value for all of our stakeholders.”

Date published: 24 August 2021

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