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Bridgepoint Education Inc (BPI) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Bridgepoint Education Inc

CIK: 1305323 Ticker: BPI

News Release
Contact: Paul Goodson, Associate Vice President, Investor Relations
(866) 475-0317 x2271
investorrelations@bridgepointeducation.com

Bridgepoint Education Reports Full Year 2013 Results
SAN DIEGO (March 11, 2014)
- Bridgepoint Education, Inc. (NYSE:BPI), a provider of postsecondary education services, announced the results for its fourth quarter and full year ended December 31, 2013.
Highlights for the fourth quarter ended December 31, 2013:
Revenue of $163.5 million compared to $209.4 million for the same period in 2012.
Operating loss of $11.9 million compared to operating income of $28.9 million for the same period in 2012.
Net loss of $6.5 million compared to net income of $18.4 million for the same period in 2012.
Fully diluted loss per common share of $0.12 compared to earnings per common share of $0.33 for the same period in 2012.
A legal accrual of $9.0 million increased general and administrative expenses and had an after-tax impact of $0.10 on fully diluted earnings.

Highlights for the full year ended December 31, 2013:
Total student enrollment was 63,624 compared to 81,810 at December 31, 2012.
Revenue of $768.6 million compared to $968.2 million for 2012.
Operating income of $60.4 million compared to $195.5 million for 2012.
Net income of $41.0 million compared to net income of $123.4 million for 2012.
Fully diluted earnings per common share of $0.74 compared to $2.21 for 2012.

“Throughout 2013, our institutions focused on delivering a relevant and high-quality education to their students,” said Andrew Clark, CEO of Bridgepoint Education. “We are pleased with the positive response we have attracted from prospective students and plan to continue this focus in 2014 and beyond.”
Student Enrollment
Total student enrollment at the Company’s academic institutions, Ashford University and University of the Rockies, was 63,624 at December 31, 2013, compared with 81,810 students at the end of the fourth quarter of 2012. Combined new student enrollments for the fourth quarter of 2013 at both of the Company’s academic institutions increased to approximately 10,200, compared with combined new student enrollments of approximately 9,260 for the fourth quarter of 2012.
Financial Results
Revenue for the fourth quarter of 2013 was $163.5 million, compared with revenue of $209.4 million for the fourth quarter of 2012. Revenue for the year ended December 31, 2013, was $768.6 million, compared with revenue of $968.2 million for the year ended December 31, 2012.
Operating loss for the fourth quarter of 2013 was $11.9 million compared with operating income of $28.9 million for the same period in 2012. Operating income for the year ended December 31, 2013, was $60.4 million, compared with $195.5 million for the year ended December 31, 2012.


The following information was filed by Bridgepoint Education Inc (BPI) on Tuesday, March 11, 2014 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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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets Parenthetical
Consolidated Statement Of Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Accounts Receivable
Accounts Receivable (details)
Accounts Receivable (tables)
Accounts Receivable (valuation Accounts) (details)
Accrued Liabilities
Accrued Liabilities (details)
Accrued Liabilities (narrative) (details)
Accrued Liabilities (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Concentration Of Risk
Concentration Of Risk (details)
Credit Facilities
Credit Facilities (details)
Deferred Revenue And Student Deposits
Deferred Revenue And Student Deposits (details)
Deferred Revenue And Student Deposits (tables)
Earnings Per Share
Earnings Per Share (anti-dilutive Securities) (details)
Earnings Per Share (basic And Diluted) (details)
Earnings Per Share (tables)
Goodwill And Intangibles, Net
Goodwill And Intangibles, Net (details)
Goodwill And Intangibles, Net (tables)
Income Taxes
Income Taxes (balance Sheet Location Of Deferred Tax Assets And Liabilities) (details)
Income Taxes (components Of Income Tax Expense) (details)
Income Taxes (deferred Tax Assets And Liabilities) (details)
Income Taxes (income Tax Reconciliation) (details)
Income Taxes (narrative) (details)
Income Taxes (operating Loss Carryforwards) (details)
Income Taxes (tables)
Income Taxes (unrecognized Tax Benefits) (details)
Investments
Investments (differences Between Amortized Cost And Fair Value Of Investments) (details)
Investments (fair Value Information) (details)
Investments (tables)
Lease Obligations
Lease Obligations (details)
Lease Obligations (tables)
Nature Of Business
Prepaid Expense And Other Current Assets
Prepaid Expense And Other Current Assets (details)
Prepaid Expense And Other Current Assets (tables)
Property And Equipment, Net
Property And Equipment, Net (details)
Property And Equipment, Net (tables)
Quarterly Results Of Operations (unaudited)
Quarterly Results Of Operations (unaudited) (details)
Quarterly Results Of Operations (unaudited) (tables)
Regulatory
Regulatory (details)
Retirement Plans
Retirement Plans (details)
Stock Repurchase Program
Stock Repurchase Program (details)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (option Valuation Assumptions) (details)
Stock-based Compensation (restricted Stock Unit Activity) (details)
Stock-based Compensation (stock Option Activity) (details)
Stock-based Compensation (tables)
Student Loan Receivables
Student Loan Receivables (allowance For Doubtful Accounts) (details)
Student Loan Receivables (delinquency Status) (details)
Student Loan Receivables (details)
Student Loan Receivables (tables)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (comprehensive Loss) (details)
Summary Of Significant Accounting Policies (leases) (details)
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (property And Equipment) (details)
Summary Of Significant Accounting Policies (receivables) (details)
Summary Of Significant Accounting Policies (revenue And Deferred Revenue) (details)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (impairment) (details)
Warrants
Warrants (details)
Warrants (tables)
Ticker: BPI
CIK: 1305323
Form Type: 10-K Annual Report
Accession Number: 0001305323-14-000013
Submitted to the SEC: Mon Mar 17 2014 7:03:05 AM EST
Accepted by the SEC: Mon Mar 17 2014
Period: Tuesday, December 31, 2013
Industry: Educational Services

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