The company reported revenue growth of 21.3% year over year in the first quarter of fiscal 2009. This growth outpaced the industry average of 12.7%, and it also appears to have helped boost EPS, which improved 29.7% compared with the same quarter last year. Net operating cash flow increased 21% to $96.8 million in the first quarter. DeVry has a very low debt-to-equity ratio of 0.2, which implies that the company has been very successful at managing its debt levels. During September 2008, DeVry completed the acquisition of U.S. Education, the parent company of Apollo College and Western Career College, which operates 17 campus locations in the western United States.

For the fourth quarter of fiscal 2008, the company reported revenue growth of 40.1% year over year, which outpaced the industry average of 22.6%. Revenue growth appears to have helped boost EPS, which rose significantly from a loss of 91 cents per share in the fourth quarter of fiscal 2007 to a profit of $1.86 in the most recent quarter. Net income surged 305.1% when compared to the same quarter a year ago. In addition, the company announced that its Board of Directors recently approved a 10.7% dividend increase, bringing the quarterly dividend rate to 31 cents per share. The company has paid quarterly dividends continuously since it began in 1952.

For the third quarter of fiscal 2008, the company's revenue rose 15.7% year over year. Revenue growth appears to have helped boost EPS, which improved over the past year from 67 cents to $1.06. Net income also increased when compared to the same quarter a year ago, climbing 60.6% from $13.8 million to $22.2 million. We consider the company's gross profit margin of 37.6% to be strong. It has increased from the same quarter of fiscal 2007. In addition, the net profit margin of 16.80% is above that of the industry average. Furthermore, net operating cash flow has increased significantly, rising 86.6% to $48.3 million.

For the third quarter of fiscal 2008, the company reported revenue growth of 6.3% year over year. This appears to have helped boost EPS, which rose 15.7% to a record level for the company. EPS was reported as 81 cents for the third quarter, compared to 70 cents in the prior year's quarter. Net income also increased, rising 16.6% from $6.8 million to $7.9 million. Return on equity improved slightly over where it was a year ago, which can be construed as a modest strength for the company. Tompkins' return on equity of 14.1% exceeded the average for the Commercial Banking industry. The company's stock price has risen over the past year, reflecting earnings growth and other positive factors.

No Analysis added