Source - Education Management Corporation

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EDUCATION MANAGEMENT CORPORATION OPERATING HIGHLIGHTS dollars in thousands, except per share data % change (2) 2001 2002 2003 2004 2005 2004 to 2005 Operating Results: Net revenues $ 370,681 $ 500,576 $ 640,027 $ 853,019 $1,019,338 19.5% Income before interest and taxes (EBIT) $ 49,675 $ 68,967 $ 92,733 $ 132,986 $ 168,588 26.8% EBIT Margin 13.4% 13.8% 14.5% 15.6% 16.5% Net Income $ 28,978 $ 42,314 $ 56,277 $ 77,014 $ 101,574 31.9% Diluted earnings per share (1) $ 0.46 $ 0.61 $ 0.77 $ 1.03 $ 1.35 31.1% Balance Sheet Data: Total assets $ 287,540 $ 492,655 $ 577,595 $ 827,999 $ 956,027 15.5% Shareholders’ equity $ 159,949 $ 346,577 $ 427,779 $ 528,687 $ 666,010 26.0% Other Selected Data: Capital expenditures $ 47,477 $ 45,400 $ 80,809 $ 80,703 $ 71,205 (11.8%) Schools at end of period 24 40 43 67 71 Student enrollment: Beginning of fall quarter 27,718 32,180 43,784 58,828 66,179 12.5% Fiscal year average 25,284 32,545 40,457 53,724 62,384 16.1% (1) Periods prior to fiscal 2004 adjusted to reflect a 2-for-1 stock split on December 22, 2003. (2) During fiscal 2004, the Company made several acquisitions that impacted the indicated growth.
ANNUAL REPORT MENTOR LEADER FRIEND TEACHER Finding Your Way – Making Your Mark in the field of education means anticipating employer demand, and responding quickly with new and revised program designs and timely faculty recruitment. Change is a constant, and we commit EDMC’s resources to respond quickly to opportunity, ensuring that our students maintain a competitive edge. EDMC will once again roll out approximately 120 new and transplanted programs during fiscal 2006. FINDING YOUR WAY – MAKING YOUR MARK • 2005 • P7
Page 1 and 2: MENTOR LEADER FRIEND TEACHER EDMC F
Page 3 and 4: ANNUAL REPORT “Teaching requires
Page 5 and 6: ANNUAL REPORT “EDMC and its facul
Page 7: ANNUAL REPORT We are pleased to rep
Page 11 and 12: THE ART INSTITUTES “I take the ap
Page 13 and 14: BROWN MACKIE COLLEGE Life changing:
Page 15 and 16: ARGOSY UNIVERSITY “I believe I ha
Page 17 and 18: SOUTH UNIVERSITY Prior to teaching,
Page 19 and 20: ANNUAL REPORT During fiscal 2005, E
Page 21 and 22: ANNUAL REPORT Board of DIRECTORS MA
Page 23 and 24: PROFILE Education Management Corpor

Source - Education Management Corporation

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