While some succeeded in exceeding analysts' expectations, for the education and training services industry, within which Corinthian Colleges Inc. and Career Education Corp. operate, the third quarter was generally characterized by year-over-year declines. Early in the recession the industry boomed as people turned to education to enhance the chances to be employed. However, more recently, enrollment figures have been dropping and stubbornly high unemployment rates seem to be stunting any chance of recovery. Street-Wire.com posted free reports on Corinthian Colleges Inc. and Career Education Corp., which are available at
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The industry currently seems focused on cost-control. Many are reporting location closures, restructuring initiatives and workforce cuts as they look to enhance efficiency and maintain profitability. Others are also investing in marketing and brand awareness in an effort to revive enrollment, as well as making strategic investments into high demand programs with good job prospects, such as nursing. Our financial analysis on Career Education Corp. can be accessed at
Recently, tightening federal restrictions on recruitment and student loan requirements have posed an additional challenge. The re-election of Obama indicates that for-profit education companies will continue to face added scrutiny and have to meet certain performance targets in order to maintain access to federal student loans. Corinthian Colleges financial analysis available at
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Anthony K. Merchant