Global education provider Adtalem Global Education has reported net income of $19.9 million for the first quarter of it 2021 fiscal year ending 30 September 2020. This compares to net income of $14.4 million reported for the first quarter of fiscal year 2020.
Revenue for the quarter was $268.2 million, compared to $254.6 million reported for Q1 2020, an increase of 5.4%.
The Downers Grove, Illinois-based company also reported new student enrolment increased by 12.2% and total student enrolment by10.8% during the quarter.
Adtalem president and chief executive Lisa Wardell said: “We delivered robust revenue and earnings per share growth, supported by significant enrolment increases across medical and healthcare, a steady return to clinicals and solid performance in financial services.
“This strong outcome is the result of ongoing strategic investments, continued operational execution and expanded offerings across both verticals. Our strategic investments, along with increased demand, drove double-digit enrolment growth within Chamberlain University and solid single-digit enrolment growth across our medical and veterinary schools.
“We were also encouraged by solid revenue growth and significant operating income growth in the financial services vertical. This momentum throughout Adtalem positions us well for the remainder of the year.”
Date published: 12 November 2020