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At Strayer Education, student enrollments for the fall term grew 22 percent, which helped the Arlington-based firm post a 31 percent increase in third-quarter sales and a 42 percent gain in earnings.
At Strayer Education, student enrollments for the fall term grew 22 percent, which helped the Arlington-based firm post a 31 percent increase in third-quarter sales and a 42 percent gain in earnings. (Sarah L. Voisin/the Washington Post)
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Friday, October 30, 2009

EARNINGS

HGS cuts costs to post narrower loss

Human Genome Sciences said it narrowed its third-quarter loss, to $49.0 million from $74.2 million in the same period last year, as it cut costs by sharply decreasing spending on research and development.

The Rockville-based company has no products on the market, but gets money through collaborations with other companies. The company got $8.7 million in manufacturing and development services revenue, which pushed total revenue up 61 percent, to $18.8 million from $11.7 million a year ago.

Research and development costs dropped 36 percent, to $34.8 million from $54.3 million.

Shares of Human Genome Sciences closed up 11 percent at $19.97.

-- Associated Press

Enrollment, tuition increases lift Strayer

For-profit education provider Strayer Education said third-quarter profit rose 42 percent, to $16.7 million from $11.8 million a year ago, as more students enrolled in its schools while the price it charged for tuition rose. Sales rose 31 percent, to $114.4 million, as fall term student enrollments grew 22 percent, to 54,317 students, and tuition prices rose 5 percent.

The Arlington-based company said it expects to open 13 campuses next year and that it will hike tuition another 5 percent in January 2010. Enrollment should grow 20 percent in 2010, the company said, meaning sales would rise 24 or 25 percent.

-- Associated Press


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