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Capella Education expects increase in second-quarter revenue

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May 1, 2008

MINNEAPOLIS—Online education company Capella Education Co. said Thursday it expects second-quarter revenue growth of between 21 percent and 22.5 percent, based on projected enrollment growth.

Based on sales of $53.9 million in the second quarter of 2007, this equates to revenue of between $65.2 million and $66 million in the 2008 quarter.

Analysts polled by Thomson Financial, on average, estimate revenue of $65.7 million.

Capella said it expects enrollment growth of between 18.5 percent and 20 percent over the second quarter of last year, which equates to 23,631 to 23,930 total students.

The company said the enrollment growth rate is expected to be slightly lower than that achieved in the first quarter as staff adapts to a new planning system.

Shares fell $2.73, or 4.2 percent, to $61.76 in afternoon trading. Shares have traded between $34.43 and $75.38 in the past 12 months.

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