Educational Technology & Telecommunications Industry Financial Performance
Heller Report on Educational Technology Markets, June, 2002
Educational Technology & Telecommunications Industry Financial
Performance
(Sales and income are in $000) Stock Stock
Price Performance
5/22/02 YTD 2001 Act
Curriculum Content Providers
McGraw-Hill (NYSE-MHP) $65.00 8.6% 4.0%
Scholastic (NASDAQ-SCHL) 47.88 -4.9% 13.6%
John Wiley & Sons (NYSE-JWA) 26.19 13.7% 7.1%
Average $46.36 5.1% 8.2%
Educatioinal Software
Renaissance Learng (NASDAQ-RLRN) $34.25 12.4% -9.4%
Lightspan (NASDAQ-LSPN) 1.05 -23.9% -4.0%
PLATO Learning (NASDAQ-TUTR) 12.71 -23.5% 47.0%
Riverdeep (NASDAQ-RVDP) 21.25 26.4% -16.0%
Scientific Learning (NASDAQ-SCL) 1.36 -22.2% -58.5%
Average $14.12 -6.2% -8.2%
Educationl Services - K-12
Edison Schools ((NADDAQ-EDSN) $1.27 -93.5% -37.6%
Nobel Learning comm (NSDQ-NLC) 6.00 -3.4% 10.4%
Sylvan Learning (NASDAQ-SLVN) 27.27 23.6% 49.0%
Average $11.51 -24.5% 7.3%
Educational Services - Postsec
Apollo Group (NASDQ-APOL) $35.49 18.3% 37.3%
Career Education (NASDAQ-CECO) 42.59 24.2% 75.2%
Corinthian Collge (NASDAQ-COCO) 54.99 34.5% 7.8%
DeVry (NYSE-DV) 27.62 -2.9% -24.8%
Education Mgmt (NASDAQ-EDMC) 40.84 12.7% 1.4%
ITT Educational Serv (NYSE-ESI) 49.65 34.7% 67.8%
Strayer Education (NASDAQ-STRA) 60.75 24.7% 90.6%
Average $44.56 28.9% 36.5%
e-Learning & Corporate Trng
Click2Learn (NASDAQ-CLKS) $2.77 -7.7% -69.2%
Digital Think (NASDAQ-DTHK) 1.29 -88.1% -36.7%
eCollege.com (NASDAQ-ECLG) 3.99 26.9% -22.0%
Saba (NASDAQ-SABA) 2.92 -44.1% -66.9%
SkillSoft (NASDAQ-SKIL) 20.08 -22.5% 38.2%
SmartForce (NASDAQ-SMTF) 6.51 -73.7% -34.1%
U of Phoenix Onln (NASDAQ-UOPX) # 31.85 30.7% 51.6%
Average $9.93 -25.6% -19.9%
(Sales and income are in $000) First Quarter Operating Results
Revenues
2002 2001
Curriculum Content Providers
McGraw-Hill (NYSE-MHP) $846,700 $846,400
Scholastic (NASDAQ-SCHL) 432,700 $433,000
John Wiley & Sons (NYSE-JWA) 208,000 163,800
Average $495,800 $481,067
Educatioinal Software
Renaissance Learng (NASDAQ-RLRN) $34,700 $30,200
Lightspan (NASDAQ-LSPN) 10,270 10,657
PLATO Learning (NASDAQ-TUTR) 14,047 9,754
Riverdeep (NASDAQ-RVDP) 46,600 14,800
Scientific Learning (NASDAQ-SCL) 3,200 3,200
Average $21,763 $13,722
Educationl Services - K-12
Edison Schools ((NADDAQ-EDSN) $131,200 $99,600
Nobel Learning comm (NSDQ-NLC) 40,700 39,000
Sylvan Learning (NASDAQ-SLVN) 138,400 116,200
Average $103,433 $84,933
Educational Services - Postsec
Apollo Group (NASDQ-APOL) $222,600 $163,000
Career Education (NASDAQ-CECO) 169,900 19,700
Corinthian Collge (NASDAQ-COCO) 88,300 65,200
DeVry (NYSE-DV) 164,700 144,100
Education Mgmt (NASDAQ-EDMC) 145,700 100,400
ITT Educational Serv (NYSE-ESI) 107,500 93,800
Strayer Education (NASDAQ-STRA) 29,700 23,600
Average $132,629 $101,400
e-Learning & Corporate Trng
Click2Learn (NASDAQ-CLKS) $7,500 $10,700
Digital Think (NASDAQ-DTHK) (700) 12,800
eCollege.com (NASDAQ-ECLG) 5,600 4,200
Saba (NASDAQ-SABA) 12,900 14,500
SkillSoft (NASDAQ-SKIL) 13,800 8,500
SmartForce (NASDAQ-SMTF) 4,300 61,300
U of Phoenix Onln (NASDAQ-UOPX) # 72,157 36,125
Average $16,508 $21,161
(Sales and income are in $000) First Quarter Operating Results
Revenues Net Income
% Chng 2002 2001
Curriculum Content Providers
McGraw-Hill (NYSE-MHP) 0.0% $29,200 $20,400
Scholastic (NASDAQ-SCHL) -0.1% 12,000 3,700
John Wiley & Sons (NYSE-JWA) 27.0% 21,400 17,300
Average 9.0% $20,867 $13,800
Educatioinal Software
Renaissance Learng (NASDAQ-RLRN) 14.9% $7,800 $5,200
Lightspan (NASDAQ-LSPN) -3.6% (12,406) (17,793)
PLATO Learning (NASDAQ-TUTR) 44.0% (1,357) (2,351)
Riverdeep (NASDAQ-RVDP) 214.9% 3,500 (1,100)
Scientific Learning (NASDAQ-SCL) 0.0% (3,900) (5,600)
Average 54.0% ($1,273) ($4,329)
Educationl Services - K-12
Edison Schools ((NADDAQ-EDSN) 31.7% ($16,900) ($6,600)
Nobel Learning comm (NSDQ-NLC) 4.4% 1,000 700
Sylvan Learning (NASDAQ-SLVN) 19.1% (400) (11,600)
Average 18.4% ($5,433) ($5,833)
Educational Services - Postsec
Apollo Group (NASDQ-APOL) 36.6% $28,100 $16,300
Career Education (NASDAQ-CECO) 41.9% 12,000 6,300
Corinthian Collge (NASDAQ-COCO) 35.4% 11,100 7,200
DeVry (NYSE-DV) 14.3% 18,400 16,000
Education Mgmt (NASDAQ-EDMC) 45.1% 14,900 9,500
ITT Educational Serv (NYSE-ESI) 14.6% 16,400 4,800
Strayer Education (NASDAQ-STRA) 25.8% 7,400 8,100
Average 30.5% $14,043 $9,743
e-Learning & Corporate Trng
Click2Learn (NASDAQ-CLKS) -29.9% ($5,700) ($4,400)
Digital Think (NASDAQ-DTHK) 105.5% (31,400) (9,900)
eCollege.com (NASDAQ-ECLG) 33.3% (1,800) (4,900)
Saba (NASDAQ-SABA) -11.0% (3,800) (15,100)
SkillSoft (NASDAQ-SKIL) 62.4% 300 (3,600)
SmartForce (NASDAQ-SMTF) -93.0% (19,100) (100)
U of Phoenix Onln (NASDAQ-UOPX) # 99.7% 12,713 6,040
Average -6.3% ($6,970) ($4,566)
(Sales and income are in $000) First
Quarter
Operating
Results
Net Income Date of
% Chng Rptd Qtr
Curriculum Content Providers
McGraw-Hill (NYSE-MHP) 43.1% 03/31/02
Scholastic (NASDAQ-SCHL) 224.3% 02/28/02
John Wiley & Sons (NYSE-JWA) 23.7% 01/31/02
Average 97.1%
Educatioinal Software
Renaissance Learng (NASDAQ-RLRN) 50.0% 03/31/02
Lightspan (NASDAQ-LSPN) 30.3% 04/30/02
PLATO Learning (NASDAQ-TUTR) 42.3% 01/31/02
Riverdeep (NASDAQ-RVDP) 418.2% 03/31/02
Scientific Learning (NASDAQ-SCL) 30.4% 03/31/02
Average 163.6%
Educationl Services - K-12
Edison Schools ((NADDAQ-EDSN) -156.1% 03/31/02
Nobel Learning comm (NSDQ-NLC) 142.9% 03/31/02
Sylvan Learning (NASDAQ-SLVN) 96.6% 03/31/02
Average 27.8%
Educational Services - Postsec
Apollo Group (NASDQ-APOL) 72.4% 02/28/02
Career Education (NASDAQ-CECO) 90.5% 03/31/02
Corinthian Collge (NASDAQ-COCO) 54.2% 03/31/02
DeVry (NYSE-DV) 15.0% 03/31/02
Education Mgmt (NASDAQ-EDMC) 56.8% 03/31/02
ITT Educational Serv (NYSE-ESI) 33.3% 03/31/02
Strayer Education (NASDAQ-STRA) -8.6% 03/31/02
Average 44.8%
e-Learning & Corporate Trng
Click2Learn (NASDAQ-CLKS) -29.5% 03/31/02
Digital Think (NASDAQ-DTHK) -217.2% 03/31/02
eCollege.com (NASDAQ-ECLG) 63.3% 03/31/02
Saba (NASDAQ-SABA) 74.8% 02/28/02
SkillSoft (NASDAQ-SKIL) 108.3% 04/30/02
SmartForce (NASDAQ-SMTF) NM 03/31/02
U of Phoenix Onln (NASDAQ-UOPX) # 110.5% 02/28/02
Average -152.7%
* Net income excludes extraordinary items and is from continuing
operations.
# UOPX is a Tracking Stock of Apollo Group
Source: Company reports and Deutsche Banc Alex. Brown Estimates
(Contact: Peter Appert, 415-477-4240)
COPYRIGHT 2002 Heller Reports, a QED Company
COPYRIGHT 2008 Gale, Cengage Learning
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