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Adtalem Global Education Inc. (ATGE) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Adtalem Global Education Inc.

CIK: 730464 Ticker: ATGE
Exhibit 99.1

News Release




 
Investor Contact:
John Kristoff
John.Kristoff@Adtalem.com
312-651-1437

Media Contact:
Ernie Gibble
Ernie.Gibble@Adtalem.com
 630-353-9920


Adtalem Global Education Announces Fiscal First Quarter 2020 Results

Revenue of $254.6 million increased 7.5% compared with the prior year
Operating income from continuing operations was $25.7 million compared with a loss of $3.2 million in the prior year; operating income from continuing operations, excluding special items, was $27.5 million compared with $36.2 million in the prior year
Net income was $14.4 million compared with a loss of $9.5 million in the prior year; net income from continuing operations, excluding special items, was $18.9 million compared with $26.7 million in the prior year
Diluted earnings per share was $0.26 compared with a loss of $0.16 in the prior year; diluted earnings per share from continuing operations, excluding special items, was $0.34 compared with $0.44 in the prior year.  Approximately 0.9 million shares of common stock were repurchased during the first quarter of fiscal 2020 at an average purchase price of $43.81 for a total of $40.3 million

CHICAGO – Oct. 29, 2019
– Adtalem Global Education Inc. (NYSE: ATGE), a leading workforce solutions provider, today reported academic, operating and financial results for its fiscal 2020 first quarter ended Sept. 30, 2019.  The first quarter results reflect the Business and Law segment in discontinued operations as a result of the recently announced agreement to divest Adtalem Educacional do Brasil, which made up the entire segment.

“As part of our transition into a leading workforce solutions provider, we recently announced the divestiture of our Brazil assets. This strategic milestone allows us to further align our portfolio to serve our markets in a more competitive and comprehensive way, while unlocking significant shareholder value,” said Lisa Wardell, chairman and CEO of Adtalem. “During the first quarter, we also capitalized on solid demand in our other vertical markets to deliver high-single digit revenue growth overall. In Medical and Healthcare, we continued to build on institutional and employer partnerships, leveraging these relationships to create superior student outcomes. In Financial Services, we are making progress with the integration of OnCourse Learning, which contributed to the strong double-digit growth in the vertical during the quarter. We remain focused on driving growth across the business, including further investment in our strategic initiatives, which gives us confidence in delivering on our targets for the full year.”

The following information was filed by Adtalem Global Education Inc. (ATGE) on Tuesday, October 29, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Adtalem Global Education Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income (Loss)
Consolidated Statements Of Shareholders' Equity
Business Combinations
Business Combinations (Acquired Intangible Assets Subject To Amortization And Values And Estimated Useful Lives) (Detail)
Business Combinations (Estimated Fair Values Of Assets Acquired And Liabilities Assumed) (Detail)
Business Combinations (Tables)
Business Combinations - Additional Information (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Debt
Debt (Debt Issuance Costs) (Detail)
Debt (Long-Term Debt) (Detail)
Debt (Scheduled Maturities Of Long-Term Debt) (Detail)
Debt (Tables)
Debt - Additional Information (Detail)
Discontinued Operations And Assets Held For Sale
Discontinued Operations And Assets Held For Sale (Summary Of Balance Sheet Information Of Assets And Liabilities) (Detail)
Discontinued Operations And Assets Held For Sale (Summary Of Income Statement Information Of Operations) (Detail)
Discontinued Operations And Assets Held For Sale (Tables)
Discontinued Operations And Assets Held For Sale - Additional Information (Detail)
Fair Value Measurements
Financing Receivables
Financing Receivables (Credit Risk Profiles Of Institutional Loan Balance) (Detail)
Financing Receivables (Institutional Loan Balances And Related Allowances For Credit Losses) (Detail)
Financing Receivables (Institutional Loans Past Due) (Detail)
Financing Receivables (Tables)
Financing Receivables - Additional Information (Detail)
Income Taxes
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Intangible Assets
Intangible Assets (Changes In Carrying Amount Of Goodwill, By Segment) (Detail)
Intangible Assets (Estimated Amortization Expense For Amortized Intangible Assets) (Detail)
Intangible Assets (Schedule Of Intangible Assets) (Detail)
Intangible Assets (Summary Of Goodwill Balances By Reporting Segment) (Detail)
Intangible Assets (Summary Of Goodwill Balances By Reporting Unit) (Detail)
Intangible Assets (Summary Of Indefinite-Lived Intangible Assets Balances By Reporting Segment) (Detail)
Intangible Assets (Tables)
Intangible Assets - Additional Information (Detail)
Interim Financial Statements
Interim Financial Statements - Additional Information (Detail)
Leases
Leases (Tables)
Leases - (Components Of Lease Cost) (Detail)
Leases - (Future Minimum Rental Commitments For Noncancelable Operating Leases ) (Detail)
Leases - (Lease Term, Discount Rate And Cash Flow Information ) (Detail)
Leases - (Maturities Of Lease Liabilities) (Detail)
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Real Estate Transactions
Real Estate Transactions (Detail)
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Segment Information
Segment Information (Revenues And Long-Lived Assets By Geographic Area) (Detail)
Segment Information (Tables)
Segment Information (Tabulation Of Business Segment Information Based On Current Segmentation) (Detail)
Segment Information - Additional Information (Detail)
Share Repurchase Programs
Share Repurchase Programs - Additional Information (Detail)
Stock-Based Compensation
Stock-Based Compensation (Fair Values Of Stock Option Awards Weighted Average Assumptions) (Detail)
Stock-Based Compensation (Summary Of Options Activity) (Detail)
Stock-Based Compensation (Summary Of Restricted Stock Units Activity) (Detail)
Stock-Based Compensation (Tables)
Stock-Based Compensation (Total Stock-Based Compensation Expense Included In Consolidated Statement Of Income) (Detail)
Stock-Based Compensation - Additional Information (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Disaggregate Revenue) (Detail)
Summary Of Significant Accounting Policies (Impact On Consolidated Balance Sheet Upon Adoption Of Asc 842) (Detail)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Reconciliation Of Basic Shares To Diluted Shares) (Detail)
Summary Of Significant Accounting Policies (Reconciliation Of Non-Controlling Interest Balance) (Detail)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)

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Adtalem Global Education Inc. provided additional information to their SEC Filing as exhibits

Ticker: ATGE
CIK: 730464
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-19-009314
Submitted to the SEC: Tue Oct 29 2019 3:16:04 PM EST
Accepted by the SEC: Wed Oct 30 2019
Period: Monday, September 30, 2019
Industry: Educational Services

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