U.S. Markets closed

Washington Post says Kaplan to incur added $25M in restructuring charges in 2013

The company said, "In response to student demand levels, Kaplan has formulated and implemented restructuring plans at its various businesses that have resulted in significant costs in 2012 and 2011, with the objective of establishing lower cost levels in future periods. Across all businesses, restructuring costs totaled $45.2M in 2012 and $28.9M in 2011. Restructuring costs totaled $35.9M in the fourth quarter of 2012...Kaplan currently expects to incur approximately $25M in additional restructuring costs in 2013 at KHE and Kaplan International in conjunction with completing these restructuring plans. Kaplan may also incur additional restructuring charges in 2013 as the company continues to evaluate its cost structure."