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Bridgepoint Education Inc (BPI) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Bridgepoint Education Inc

CIK: 1305323 Ticker: BPI

News Release
Contact: Paul Goodson, Associate Vice President, Investor Relations
858.848.3312
investorrelations@bridgepointeducation.com


Bridgepoint Education Reports Full Year and Fourth Quarter 2011 Results


SAN DIEGO, CA. (March 6, 2012)
- Bridgepoint Education (NYSE:BPI), a provider of postsecondary education services, announced today the results for its full year and fourth quarter ended December 31, 2011.
Highlights for the full year ended December 31, 2011:
Total student enrollment at period end was 86,642.
Revenue increased to $933.3 million from $713.2 million for 2010.
Operating income increased to $273.7 million from $216.4 million for 2010.
Net income was $172.8 million compared with net income of $127.6 million for 2010.
Fully diluted earnings per common share was $3.02 compared with $2.14 for 2010.
Highlights for the fourth quarter ended December 31, 2011:
Revenue increased to $221.3 million from $192.4 million for the same period in 2010.
Operating income decreased to $35.3 million from $44.7 million for the same period in 2010.
Net income decreased to $22.9 million from $26.3 million for the same period in 2010.
Fully diluted earnings per common share decreased to $0.41 from $0.45 for the same period in 2010.
“In 2011, I am very pleased to report that both our institutions improved the quality of the student learning experience through the increased use of innovative technologies. To this end, we have made and will continue to make investments designed to improve our students' learning outcomes and their educational experience at our institutions. In 2011, we believe these investments in the student learning experience were responsible for improved student persistence and graduation rates, and we expect that our focus on these investments will continue to produce similar results in the future,” said Andrew Clark, chief executive officer of Bridgepoint Education.
Student Enrollment
Total student enrollment at the Company's academic institutions, Ashford University and University of the Rockies, increased to 86,642 students at December 31, 2011, compared with 77,892 students at the end of the fourth quarter of 2010.
Combined new student enrollments for the fourth quarter of 2011 at both of the Company's academic institutions were approximately 13,500, compared with combined new student enrollments of approximately 15,600 for the fourth quarter of 2010.
Financial Results
Revenue for the fourth quarter of 2011 was $221.3 million, compared with revenue of $192.4 million for the fourth quarter of 2010. Revenue for the year ended December 31, 2011, was $933.3 million, compared with revenue of $713.2 million for the year ended December 31, 2010.


The following information was filed by Bridgepoint Education Inc (BPI) on Tuesday, March 6, 2012 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
Ticker: BPI
CIK: 1305323
Form Type: 10-K Annual Report
Accession Number: 0001305323-12-000016
Submitted to the SEC: Tue Mar 06 2012 5:32:20 PM EST
Accepted by the SEC: Wed Mar 07 2012
Period: Saturday, December 31, 2011
Industry: Educational Services

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