Strayer Education 1Q profit up on higher enrollment, tuition

ARLINGTON, Va.—Strayer Education Inc., a for-profit education provider, said Wednesday its first-quarter profit grew 25 percent on increased tuition and enrollment.

For the period ended March 31, earnings rose to $23.5 million, or $1.64 per share, from 18.8 million, or $1.30 per share, in the previous year.

Quarterly sales rose 21 percent to $97.1 million from $80.2 million.

Analysts polled by Thomson Financial expected net income of $1.58 per share on revenue of $96.7 million.

The company said enrollment climbed 19 percent for the Strayer University spring term, while new student enrollments increased 28 percent across the campus and online system. Tuition edged up 5 percent starting in January.