Earnings Call Excerpt
Strayer Education Inc. (STRA)
Q1 2009 Earnings Call
April 30, 2009; 10:00 am ET
Executives
Sonya Udler - Senior Vice President, Corporate Communications
Rob Silberman - Chairman, Chief Executive Officer
Mark Brown - Executive Vice President, Chief Financial Officer
Analysts
Amy Junker - Robert W. Baird
Gary Bisbee - Barclays Capital
Kevin Doherty - Banc of America
Mark Marostica - Piper Jaffray
Andrew Steinerman - JP Morgan
Andrew Fones - UBS
Bob Craig - Stifel Nicolaus
Ariel Sokol - Wedbush Morgan
Jeff Silber - Signal Hill Group
Corey Greendale - First Analysis
Brandon Dobell - William Blair
Kelly Flynn - Credit Suisse
Trace Urdan - Signall Hill Group
Presentation
Operator
Good morning, everyone and welcome to Strayer Education Inc. first quarter earnings results conference call. This call is being recorded. Following today’s call we will offer the opportunity for questions-and-answers.
At this time for opening remarks and introductions, I’d like to turn the call over to Strayer Education’s, Senior Vice President of Corporate Communications, Ms. Sonya Udler. Miss Udler, please go ahead.
Sonya Udler
Good morning. With us today to discuss the results are Robert Silberman, Chairman and Chief Executive Officer for Strayer Education and Mark Brown, Executive Vice President and Chief Financial Officer.
For those of you that wish to listen to the conference via the Internet, please go to www.strayereducation.com where the call will be archived for 90 days. If you are unable to listen to the call in real time, a replay will be available beginning today at 1:00 pm Eastern Time through Tuesday, May 5. The replay is available at 888-203-1112, pass code 1744172.
Following Strayer’s remarks, we will open the call for questions-and-answers. Please note that today’s press release contains statements that are forward-looking and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act. The statements are based on the company’s current expectations and are subject to a number of uncertainties and risks that the company has identified in the press release and that could cause the company’s actual results to differ materially.
Further information about these and other relevant uncertainties may be found in the company’s annual report on Form 10-K, and its other filings with the Securities and Exchange Commission.
Now, I’d like to turn the call over to Rob. Rob, please go
Rob Silberman
Thank you, Sonya. Good morning, ladies and gentlemen. As it is our custom, I’d like to begin this morning with a brief overview of both our company and our business model for any listeners who are new to Strayer. I’ll then ask Mark to report on the detailed financial results for the first quarter, after which I’ll comment on our enrollment results for the spring academic term, provide an update on our growth strategies and finally end up with the company’s earnings outlook for Q2 2009.
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