Company reports 29.8% jump in fiscal Q1 2009 net income from the same period a year ago. This comes on a revenue increase of 21.3%
DeVry's stock price rallied during this stretch because of the company's relatively limited exposure to the private credit crisis affecting most of its competitors. DeVry's EDUCARD in-house private loan program replaced many outside private lenders for students, but students still have many options for financing their education - both public and private.
DeVry reported that its first quarter profits increased from $20.9 million ($0.29 a share) last year to $26.8 million ($0.37 a share). Analysts were expecting earnings of $0.21 a share. Stifel, Nicolaus & Co. also upgraded the stock and set a price target of $54.