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Last €3.64 EUR
Change Today -0.127 / -3.37%
Volume 0.0
As of 1:30 PM 05/5/15 All times are local (Market data is delayed by at least 15 minutes).

career education corp (CE1) Snapshot

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52 Week High
01/2/15 - €5.78
52 Week Low
06/4/14 - €3.19
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Current Stock Chart for CAREER EDUCATION CORP (CE1)

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career education corp (CE1) Details

Career Education Corporation operates colleges, institutions, and universities that provide education to student population in various career-oriented disciplines through online, on-ground, and hybrid learning program offerings in the United States. The company operates through four segments: Colorado Technical University (CTU), American InterContinental University (AIU), Career Colleges, and Transitional Group. Its institutions include CTU, AIU, Briarcliffe College, Brooks Institute, Harrington College of Design, Missouri College, and Sanford-Brown Institutes and Colleges. The company offers doctoral, master’s, bachelor’s, and associate degrees, as well as diploma and certificate programs. It provides academic programs in the career-oriented disciplines of business studies, information systems and technologies, criminal justice, computer science and engineering, health sciences, and design technologies, as well as visual communications, fashion design, photography, interior design, graphic design, and video production through campus based and online education. As of December 31, 2014, the company had a total student enrollment of approximately 41,400 students. Career Education Corporation was founded in 1994 and is based in Schaumburg, Illinois.

4,214 Employees
Last Reported Date: 03/3/15
Founded in 1994

career education corp (CE1) Top Compensated Officers

Chief University Education Officer and Senior...
Total Annual Compensation: $511.5K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: $507.2K
Chief Career Schools Officer and Senior Vice ...
Total Annual Compensation: $377.1K
Compensation as of Fiscal Year 2014.

career education corp (CE1) Key Developments

Career Education Corporation Announces Management Changes

On March 17, 2015, Reid Simpson resigned as Senior Vice President and Chief Financial Officer of Career Education Corporation (the Company), effective as of March 31, 2015, to pursue another opportunity. On March 23, 2015, the Board of Directors of the company appointed David Rawden of AlixPartners to serve as the company’s Interim Chief Financial Officer effective April 1, 2015. David Rawden has been a Director at AlixPartners since 2008, and also worked with AlixPartners from 1990 through 2002. On March 23, 2015, the Board of Directors of the company designated Michele Peppers, Vice President, Accounting and Reporting, to act as the company’s principal accounting officer effective April 1, 2015. Ms. Peppers has served for nearly 11 years in the company’s finance department in various roles of increasing responsibility. She has served in her current role of Vice President, Accounting and Reporting, since October 2014 and her prior positions with the company have included Vice President and Assistant Controller from November 2012 to October 2014, Director of Financial Reporting from March 2009 to November 2012, as well as various other roles with increasing responsibility within the Accounting department since joining the company in April 2004. Prior to joining the company, she worked as an Accounting Manager for RJ Nelson Enterprises, an owner/operator of restaurants. Other than the agreement with AP Services, LLC mentioned above, there are no current arrangements between Mr. Rawden or Ms. Peppers and any other person pursuant to which either was selected to become principal financial and accounting officer, respectively, and neither Mr. Rawden nor Ms. Peppers has any family relationship with any director or executive officer of the Company, or with any person selected to become a director or executive officer. Neither Mr. Rawden nor Ms. Peppers nor any member of their immediate family is a party to any transaction or proposed transactions with the company.

Career Education Corp. Appoints Richard Wang to the Board of Directors

On March 10, 2015, Career Education Corporation entered into an agreement with Tenzing Global Management LLC, Tenzing Global Investors LLC, Tenzing Global Investors Fund I LP and Richard Wang. Pursuant to the agreement, the company has agreed to appoint Richard Wang to the company's Board of Directors, effective immediately, with a term expiring at the company's 2015 annual meeting of stockholders and (ii) to nominate Mr. Wang to stand for election as a director at the 2015 Annual Meeting.

Career Education Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Career Education Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the period, the company reported total revenue of $174,207,000 against $199,373,000 a year ago. Operating loss was $7,784,000 against $14,429,000 a year ago. Pretax loss was $7,747,000 against $14,230,000 a year ago. Loss from continuing operations was $8,293,000 or $0.12 per diluted share against $82,367,000 or $0.12 per diluted share a year ago. Net loss was $25,488,000 or $0.38 per diluted share against $30,606,000 or $0.46 per diluted share a year ago. Adjusted EBITDA-ongoing operations were $15,626,000 or $0.23 per diluted share against $10,191,000 or $0.15 per diluted share a year ago. Net cash used in operating activities increased to $17.5 million for the fourth quarter of 2014, compared to $8.0 million in the prior year quarter as a result of the prior year quarter including the receipt of approximately $9.1 million related to a tenant improvement allowance received for corporate headquarters lease. For the year, the company reported total revenue of $741,358,000 against $839,681,000 a year ago. Operating loss was $72,716,000 against $80,841,000 a year ago. Pretax loss was $72,504,000 against $87,581,000 a year ago. Loss from continuing operations was $76,240,000 or $1.13 per diluted share against $117,725,000 or $1.76 per diluted share a year ago. Net loss was $178,163,000 or $2.65 per diluted share against $164,263,000 or $2.46 per diluted share a year ago. Net cash used in operating activities was $118,624,000 against $85,804,000 a year ago. Purchases of property and equipment were $13,156,000 against $19,636,000 a year ago. The increase in the use of operating cash for the full year 2014 was driven primarily by the operating loss for the current year, legal settlement payments and payments related to real estate lease buyouts. The operating cash flow usage in the second half of 2014 was less than the first half of 2014 as a result of legal settlement payments during the first half of 2014 and improving business trends coupled with receipt of $8.6 million related to an insurance recovery in the second half of 2014. For the year 2015, the company provided an update on the company’s expectations for performance and general business outlook for full year 2015 include: Modest growth in total student enrollments for the year within its University group, with online being the primary contributor; positive adjusted EBITDA for full year 2015 from ongoing operations, which excludes the Transitional Group and campuses held for sale; reduce operating expenses by an additional $40 million based on actions that were taken in 2014; continued progress on reductions of real estate obligations; and end fiscal year 2015 with over $190 million in total cash, cash equivalents, restricted cash and short-term investments.


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CE1 Competitors

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Company Last Change
Bridgepoint Education Inc $9.12 USD +0.26
ITT Educational Services Inc $4.36 USD -0.17
K12 Inc $14.76 USD -1.24
Strayer Education Inc $48.94 USD -1.47
Universal Technical Institute Inc $9.13 USD +0.13
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