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  • sage2123 sage2123 Oct 17, 2012 6:56 AM Flag

    Apollo Group Closing 115 campuses

    WPO's biggest revenue source is their Kaplan division.

    And this market segment isn't doing so great.

    Apollo Group Inc. said Tuesday that its fiscal fourth-quarter net income tumbled 60 percent, hurt by higher costs and declining enrollment at the University of Phoenix. To cope, the for-profit education company plans to close 115 of the university's mostly smaller locations, a move that will affect 13,000 students.

    Shares in the Phoenix-based company tumbled nearly 9 percent in after-hours trading.

    The closings include 25 main campuses and 90 smaller satellite learning centers. At least one location in 30 states is slated to be shuttered.

    Sentiment: Sell

 
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