For-profit post-secondary higher education provider Perdoceo, formerly known as Career Education Corporation, has reported second-quarter 2020 net income of $28.2 million, compared to net income of $559,000 reported for Q2 2019. Revenue for the quarter was $176 million, up from $156.4 million reported for the second quarter of 2020.
The Schaumburg, Illinois-based company also reported figures for the first six months of 2020, with net income of $57.3 million, up from net income of $24.2 million reported for the first six months of 2020. Revenue for the six-month period was $347 million, up from $314.3 million in revenue reported the first six months of 2020.
Perdoceo president and chief executive Todd Nelson said: “The health and wellbeing of our students, employees and communities continue to be our priority and I am extremely proud of our faculty and employees for their dedication and commitment towards educating, serving and supporting our students during these challenging times. We are further optimising our technology, improving our processes and providing the necessary tools and resources to our employees so they can continue to effectively and efficiently serve students even while working remotely. Although the pandemic has not had a material impact on our operating results to date, we continue to monitor the situation. Our balance sheet continues to strengthen, and we are strategically investing in initiatives that further enhance our students’ experiences, retention and academic outcomes while executing against our strategy of sustainable and responsible growth.”
Date published: 10 August 2020