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August 30, 2015 4:06 AM ET

Diversified Consumer Services

Company Overview of Kaplan, Inc.

Company Overview

Kaplan, Inc. provides educational and career services for individuals, schools, and businesses in the United States and internationally. It offers test preparation services in the areas of graduate admissions, college admissions, medical licensing, nursing, bar review, English language, high school admissions, accounting, financial services, real estate, securities, insurance, information technology, high school equivalency, and other tests. The company also provides English language programs, such as business English courses, exam and university preparation courses, general English courses, junior English courses, university preparation programs, and work-study programs. In addition, it off...

6301 Kaplan University Avenue

Fort Lauderdale, FL 33309

United States

Founded in 1938

Phone:

954-515-3993

Fax:

212-437-1159

Key Executives for Kaplan, Inc.

Chairman and Chief Executive Officer
Age: 54
Chief Financial Officer
Age: 45
Chairman of Graham Holdings Company and Chief Executive Officer of Graham Holdings Company
Age: 70
Chief Executive Officer of Kaplan Higher Education
Compensation as of Fiscal Year 2015.

Kaplan, Inc. Key Developments

Kaplan Test Preparation Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Kaplan Test Preparation announced unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $80,381,000 against $81,099,000 a year ago. Operating income was $7,079,000 against operating loss of $3,904,000 a year ago. Excluding revenues from acquired businesses, KTP revenue decreased 4%. For the six months, the company reported revenue of $149,607,000 against $148,902,000 a year ago. Operating income was $2,745,000 against operating loss of $10,532,000 a year ago. Excluding revenues from acquired businesses, KTP revenue decreased 3%. In comparison, KTP operating results improved in the second quarter and first six months of 2015 due to a reduction in operating expenses from tighter cost controls and the inclusion of the software asset write-offs in 2014.

Kaplan, Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Announces Impairment Charges for the Second Quarter of 2015

Kaplan announced unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported operating revenues of $523,625,000 against $542,964,000 a year ago. Operating income was $15,848,000 against $17,637,000 a year ago. Operating results for the second quarter of 2015 and 2014 include restructuring costs and software assets write-offs of $16.6 million and $10.5 million, respectively. The operating results in the second quarter of 2015 also include a $6.9 million long-lived asset impairment charge. For the six months, the company reported operating revenues of $1,024,227,000 against $1,065,118,000 a year ago. Operating loss was $7,001,000 against operating income of $19,499,000 a year ago. The company announced impairment of long-lived assets of $6,876,000 for the second quarter of 2015 in connection with the KHE Campuses business.

Kaplan, Inc. Announces Executive Changes Effective from August 21, 2015

Kaplan, Inc. announced that chief executive officer Thomas C. Leppert is resigning his position effective August 21, 2015. He will be replaced by Andrew S. Rosen, executive vice president of Graham Holdings Company and chairman of the company. Leppert has been at the company since 2013 and has led the expansion of the company's highly successful international business and a turnaround at Kaplan Test Prep. Rosen came to Graham Holdings company's predecessor company, The Washington Post Company, in 1986 and joined the company in 1992. Rosen will continue in his role as executive vice president at Graham Holdings Company.

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