Working adult education company Strategic Education Inc (SEI), which owns for-profit online Strayer University and Capella University, has reported net income of $20 million for the second quarter of 2021, down from net income of $34.2 million reported for Q2 2020.
Revenue for the quarter increased to $299.2 million, up from $255.8 million reported for the second quarter last year.
The company also announced results for the first six months of 2021, reporting net income of $29.6 million, down from $69.4 million reported for the first six months of 2020. Revenue for half-year was $589.5 million, up from $521.1 million reported for the first half of 2020.
SEI chief executive Karl McDonnell said: “We are pleased with performance at Capella University and in our alternative learning and Australia/New Zealand segments and continue to focus on returning Strayer University to growth. Our financial strength provides a solid foundation as we continue to invest in Australia/New Zealand, alternative learning, and the success of our Capella and Strayer students.”
Date published: 29 July 2021