they r pumping that IPOL purchase of open colleges will add to top line rev 2014
Stronger Outlook for 2014: Notwithstanding a weak top line, share prices of this Zacks Rank #1 (Strong Buy) company increased due to a significant improvement in 2014 outlook. Apollo Education increased its top line guidance for fiscal 2014 to incorporate revenues from the recent acquisition of Open Colleges (an Australia based college acquired in Dec 2013).
The acquisition is subject to customary closing conditions and is anticipated to be completed during the second quarter of fiscal year 2014. Based on preliminary analysis, Apollo Education Group does not expect the transaction to have a material impact on its fiscal 2014 financial results, excluding acquisition expenses and other special charges, and anticipates it will be long-term value accretive.