For-profit post-secondary online education provider Perdoceo has reported first-quarter 2021 net income of $30.8 million, up from net income of $29.1 million reported for the first quarter of 2020.
Revenue for the quarter was $105.8 million, up 2.2% from $103.6 million reported for Q1 2020.
The Schaumburg, Illinois-based company also stated that its total student enrolments at the end of the first quarter of 2021 had increased by 12.8% at Colorado Technical University (CTU) and by 5% at American InterContinental University (AIU), compared to the first quarter of last year.
Perdoceo president and chief executive Todd Nelson said: “We are pleased with our positive first-quarter 2021 results. Our focus on student experiences, retention and academic outcomes, in particular through our ongoing technology initiatives, has helped us to effectively serve and educate our students as they progress through their academic programmes. As the year progresses, we will continue to invest in various initiatives that meet the evolving professional needs of our nontraditional learners, including working adults.”
Date published: 7 May 2021