Adtalem Global Education (ATGE) 8-K DeVry Inc. Reports Strong Fiscal 2008 Third-Quarter Results, Enrollment at DeVry University, Ross University

Exhibit 99.1

DeVry Inc. Reports Strong Fiscal 2008 Third-Quarter Results,
Enrollment at DeVry University, Ross University

OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--DeVry Inc. (NYSE: DV), a global provider of educational services, reported today its financial results for the fiscal 2008 third quarter and the nine-month period ended March 31, 2008. DeVry also reported enrollment at DeVry University and Ross University.

Three Months Ended March 31

• Revenues in the fiscal 2008 period increased 18.4 percent to $291.0 million, compared with $245.8 million for the same quarter one year ago.
• Operating income in the fiscal 2008 period was $50.6 million compared to $29.6 million for the same period last year, an increase of 70.9 percent.
• Net income for the fiscal 2008 period was $38.3 million compared to $22.9 million in the same period last year, an increase of 67.2 percent. In the fiscal 2008 period diluted earnings per share were $0.53 compared with $0.32 per diluted share last year, an increase of 65.6 percent. Third-quarter diluted weighted average shares outstanding increased to 72,515,000 in fiscal 2008 from 71,512,000 in fiscal 2007.

Nine Months Ended March 31

• In the fiscal 2008 period, revenues were up 16.3 percent to $815.0 million compared to $700.6 million last year.
• Operating income increased 55.8 percent to $131.4 million in the fiscal 2008 period compared to $84.3 million for the same period last year.
• Net income for the fiscal 2008 period increased 67.6 percent to $101.0 million compared to $60.2 million in the same period last year. In the fiscal 2008 period diluted earnings per share were $1.40 compared with $0.85 per diluted share last year, an increase of 64.7 percent. Nine-month diluted weighted average shares outstanding increased to 72,358,000 in fiscal 2008 from 71,279,000 in fiscal 2007.

Net income in the first nine months of fiscal 2008 includes the up front loss of $2.3 million, net of tax, from the sale/leaseback transactions at Phoenix, Seattle, and Alpharetta, Ga. Fiscal 2007 results included gains from the West Hills, Calif., facility and Tinley Park, Ill., excess land sales. These gains were partially offset by severance related costs for workforce reductions, netting $11.8 million, after-tax. Excluding these discrete items from both years, net income for the first nine months totaled $103.2 million in fiscal 2008 versus $48.5 million in fiscal 2007, an increase of 113 percent, while nine-month earnings per share totaled $1.43 in fiscal 2008 versus $0.68 in fiscal 2007, an increase of 110 percent.

“We are pleased with the strong performance from all our operations through the first nine months of fiscal 2008,” said Daniel Hamburger, DeVry Inc.’s president and chief executive officer. “Continued improvements in the new student recruiting process and robust market demand for our high-quality programs resulted in solid enrollment results in the spring. These results combined with operating leverage enabled DeVry to deliver another quarter of outstanding earnings growth.”

Hamburger added, “As we indicated last quarter, investments in marketing, recruiting, information technology and human resources will continue into the fourth quarter. Although these actions will increase our costs in the near term, we believe they will help us achieve even greater long-term momentum.”

Business Highlights:

DeVry University

Student Enrollment

DeVry University achieved its tenth consecutive period of positive undergraduate new student growth and its seventh consecutive period of positive total student enrollment growth. In Spring 2008, new undergraduate student enrollment increased 12.1 percent to 12,410 students, compared to 11,075 students in the prior year. Total student enrollment increased 10.3 percent to 44,814 students, compared to 40,637 in Spring 2007.

For the January 2008 session at DeVry University’s Keller Graduate School of Management (KGSM), the number of graduate coursetakers reached an all-time record of 17,377, an increase of 13.7 percent over January 2007. For the March 2008 session at KGSM, the number of graduate coursetakers was 17,005, an increase of 15.2 percent over prior year.

The total number of online undergraduate and graduate coursetakers in March 2008 improved 25.0 percent over Spring 2007, outpacing growth in the online market of 17 percent, according to Eduventures.

Real Estate Optimization

During the third quarter, DeVry University opened new locations in Louisville, Ky., and Palmdale, Calif., and completed a sale-leaseback transaction at its Houston facility. The Houston transaction resulted in gross proceeds of $14.5 million and is expected to improve net income by $200,000 annually. Additionally, the university is relocating its Decatur, Ga., campus to downtown Decatur later this year and has offered the existing facility for sale.

New Personnel

During the third quarter, DeVry University appointed John Birmingham as its chief marketing officer and appointed leadership at its newest locations in Louisville, Ky., and Palmdale, Calif.

Employment Statistics

System-wide, 92.6 percent of DeVry University’s graduates for the year ending June 2007 were in the active job market and employed in their fields within 6 months of graduation at an average starting salary of $42,805.

Ross University

In the January 2008 term at Ross University, new students increased 11.1 percent to 551, and total student enrollment reached a record high of 4,011 students, an increase of 7.0 percent over the January 2007 term.

Chamberlain College of Nursing

Chamberlain College of Nursing opened new campuses in Addison, Ill., and Phoenix in March 2008, co-locating its programs with DeVry University campuses. Chamberlain plans to expand at the rate of one new location per year pending future state approvals.

Becker Professional Review

As a result of continued demand for highly-skilled finance and accounting professionals, Becker Professional Review once again experienced strong results in the third quarter, with revenue increasing 30.4 percent over the third quarter last year. During the quarter, Becker further strengthened its management talent by adding several key members to its marketing, business development and management teams. In April, Becker opened a new office in Hong Kong to meet the strong demand for its products and services in the Asian marketplace.

Balance Sheet and Cash Flow

Net interest income for the 2008 fiscal third quarter was approximately $2.7 million, compared to $1.2 million last year. This improvement, combined with strong operating results, resulted in operating cash flow of approximately $73.2 million in the fiscal 2008 third quarter and approximately $205.3 million in the first nine months of fiscal 2008. The ending cash and short- and long-term investment balances of $310 million compared to $136 million a year ago.

Share Repurchase Plan

During the third quarter of fiscal 2008, DeVry repurchased approximately 214,000 shares of its common stock at a cost of approximately $10.0 million. As of March 31, 2008, 820,573 shares of DeVry stock have been purchased on the open market as part of this program for a total of $30.7 million at an average cost of $37.46 per share.

Conference Call With Management

DeVry Inc. will hold a conference call to discuss its fiscal 2008 third-quarter financial and spring enrollment results on April 24, 2008, at 3:30 p.m. Central time (4:30 p.m. Eastern time). The conference call will be led by Daniel Hamburger, president and chief executive officer, and Rick Gunst, chief financial officer.

For those wishing to participate by telephone, dial (866) 831-6162 (domestic) or (617) 213-8852 (international). DeVry Inc. will also broadcast the conference call live via the Internet. Interested parties may access the webcast through the Investor Relations section of the company's Web site, or http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=93880& eventID=1745021. (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. You may also need to remove an extra space in the URL if one exists.) Please access the Web site at least 15 minutes prior to the start of the call to register, download and install any necessary audio software.

The company will archive a telephone replay of the call until May 8, 2008. To access the replay, dial (888) 286-8010 (domestic) or (617) 801-6888 (international), passcode: 17578527. To access the webcast replay, please visit the company's Web site, or http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=93880& eventID=1745021. (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. You may also need to remove an extra space in the URL if one exists.)

About DeVry Inc.

DeVry Inc. (NYSE: DV) is the parent organization of DeVry University, Advanced Academics, Ross University, Chamberlain College of Nursing and Becker Professional Review. DeVry University, which includes Keller Graduate School of Management, offers associate, bachelor's and master's degree programs in technology, healthcare technology, business and management. Advanced Academics provides online secondary education to school districts throughout the U.S. Ross University offers doctoral degree programs through its schools of Medicine and Veterinary Medicine. Chamberlain College of Nursing offers associate and bachelor's degree programs in nursing. Becker Professional Review, which includes Becker CPA Review and Stalla Review for the CFA Exams, provides professional education and exam review for accounting and finance professionals. For more information, visit http://www.devryinc.com.

Selected Operating Data (in thousands, except per share data)

	Third Quarter
	FY 2008	FY 2007	% Change
Revenues	$290,973	$245,825	+18.4	%
Net Income	$38,318	$22,924	+67.2	%
Earnings per Share (diluted)	$0.53	$0.32	+65.6	%
Number of common shares (diluted)	72,515	71,512	+1.4	%

	Nine Months
	FY 2008	FY 2007	% Change
Revenues	$815,028	$700,644	+16.3	%
Net Income	$100,966	$60,241	+67.6	%
Earnings per Share (diluted)	$1.40	$0.85	+64.7	%
Number of common shares (diluted)	72,358	71,279	+1.5	%

Use of Non-GAAP Financial Information and Supplemental Reconciliation Schedule

The following table illustrates the effects of the gain/loss on the sale of facilities on the company’s earnings. The non-GAAP disclosure of net income and earnings per share, excluding these items, is not preferable to GAAP net income but is shown as a supplement to such disclosure for comparability to the year-ago period. The following table reconciles these items to the relevant GAAP information (in thousands, except per share data):

	First Nine Months
	FY2008	FY2007
Net Income	$100,966	$60,241
Earnings per Share (diluted)	$1.40	$0.85
Loss/(Gain) on Facility Sales (net of tax)	$2,279	$(12,411	)
Earnings per Share (diluted)	$0.03	$(0.17	)
Separation Plan Severance (net of tax)	-	$654
Earnings per Share (diluted)	-	$0.01
Net Income Excluding the Loss/(Gain) on Facility Sales and Separation Plan Severance (net of Tax)	$103,245	$48,484
Earnings per Share (diluted)	$1.43	$0.68

Spring 2008 Enrollment Results

		2008	2007		% Change
DeVry University
Undergraduate
New students (onsite/online)		12,410	11,075		+12.1			%
Total students (onsite/online)		44,814	40,637		+10.3			%
Graduate coursetakers1
January		17,377	15,278		+13.7			%
March		17,005	14,756		+15.2			%
Online coursetakers1 - March		43,889	35,111		+25.0			%
Ross University - January
New students		551	496		+11.1			%
Total students		4,011	3,747		+7.0			%
Employment Statistics	Period			Percent Employed2			Average Salary
DeVry University (Undergraduate)	Oct 06-Feb 07-Jun 07			92.6		%	$42,805

¹The term “coursetaker” refers to the number of courses taken by a student. Thus one student taking two courses is counted as two coursetakers.

²Graduates who actively pursued employment or who were already employed when they graduated and held positions in their chosen fields within six months of graduation. Include bachelor’s and associates degree graduates.

Chart 1 – Historical DeVry University Undergraduate Enrollments

(See chart in Multimedia Gallery http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5667783)

Chart 2 – DeVry Inc. Five-Year Strategic Plan

(See chart in Multimedia Gallery http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5667783)

Certain statements contained in this release concerning DeVry's future performance, including those statements concerning DeVry's expectations or plans, may constitute forward-looking statements subject to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as DeVry Inc. or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Actual results may differ materially from those projected or implied by these forward-looking statements. Potential risks, uncertainties and other factors that could cause results to differ are described more fully in Item 1A, "Risk Factors," in the Company's most recent Annual Report on Form 10-K for the year ending June 30, 2007 and filed with the Securities and Exchange Commission on August 24, 200

7.

DEVRY INC.
CONSOLIDATED BALANCE SHEETS
(Dollars in Thousands)
(Unaudited)
PRELIMINARY
				March 31,			June 30,			March 31,
					2008			2007			2007
ASSETS
	Current Assets
		Cash and Cash Equivalents		$	249,580		$	129,155		$	135,821
		Marketable Securities			2,345			-			-
		Restricted Cash			23,077			14,483			58,042
		Accounts Receivable, Net			121,523			43,084			95,490
		Inventories			63			141			125
		Deferred Income Taxes, Net			17,287			13,915			15,501
		Prepaid Expenses and Other			20,698			18,207			15,196
			Total Current Assets		434,573			218,985			320,175
	Land, Buildings and Equipment
		Land			47,478			60,570			60,578
		Buildings			200,617			218,836			214,517
		Equipment			276,921			260,847			257,757
		Construction In Progress			5,816			15,816			15,367
					530,832			556,069			548,219
		Accumulated Depreciation and Amortization			(308,001	)		(296,742	)		(290,655	)
			Land, Buildings and Equipment, Net		222,831			259,327			257,564
	Other Assets
		Intangible Assets, Net			63,859			56,920			58,344
		Goodwill			308,671			291,113			291,113
		Perkins Program Fund, Net			13,450			13,450			13,450
		Marketable Securities			57,637			-			-
		Other Assets			14,871			4,318			6,515
			Total Other Assets		458,488			365,801			369,422
TOTAL ASSETS				$	1,115,892		$	844,113		$	947,161
DEVRY INC.
CONSOLIDATED BALANCE SHEETS
(Dollars in Thousands)
(Unaudited)
PRELIMINARY
				March 31,			June 30,			March 31,
					2008			2007			2007
LIABILITIES
	Current Liabilities
		Accounts Payable		$	36,895		$	34,295		$	34,283
		Accrued Salaries, Wages and Benefits			43,049			47,093			39,912
		Accrued Expenses			36,196			32,737			35,771
		Advance Tuition Payments			21,405			14,402			12,311
		Deferred Tuition Revenue			195,869			37,348			167,064
			Total Current Liabilities		333,414			165,875			289,341
	Other Liabilities
		Deferred Income Taxes, Net			13,809			18,343			11,811
		Accrued Postemployment Agreements			4,114			4,901			5,144
		Deferred Rent and Other			28,158			13,028			14,855
			Total Other Liabilities		46,081			36,272			31,810
TOTAL LIABILITIES					379,495			202,147			321,151
SHAREHOLDERS' EQUITY
	Common Stock, $0.01 par value, 200,000,000 Shares Authorized, 71,333,000, 71,131,000 and 70,885,000 Shares issued and outstanding at March 31, 2008, June 30, 2007 and March 31, 2007, respectively.				722			716			711
	Additional Paid-in Capital				164,634			143,580			133,999
	Retained Earnings				606,781			510,979			498,589
	Accumulated Other Comprehensive Loss				(2,644	)		(918	)		(159	)
	Treasury Stock, at Cost (905,384, 436,786, 275,221 Shares, Respectively)				(33,096	)		(12,391	)		(7,130	)
TOTAL SHAREHOLDERS' EQUITY					736,397			641,966			626,010
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY				$	1,115,892		$	844,113		$	947,161

DEVRY INC.
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands Except for Per Share Amounts)
(Unaudited)
PRELIMINARY
			For The Quarter						For The Nine Months
			Ended March 31,						Ended March 31,
				2008			2007			2008			2007
REVENUES:
	Tuition		$	265,253		$	226,141		$	746,169		$	645,850
	Other Educational			25,720			19,684			68,859			54,794
		Total Revenues		290,973			245,825			815,028			700,644
OPERATING COSTS AND EXPENSES:
	Cost of Educational Services			130,846			125,815			375,761			366,699
	Separation Plan Severance			-			1,097			-			1,097
	Loss (Gain) on Sale of Assets			-			(957	)		3,743			(20,812	)
	Student Services and Administrative Expense			109,576			90,283			304,138			269,319
		Total Operating Costs and Expenses		240,422			216,238			683,642			616,303
Operating Income				50,551			29,587			131,386			84,341
INTEREST:
	Interest Income			2,823			1,956			8,122			5,326
	Interest Expense			(99	)		(774	)		(418	)		(4,663	)
		Net Interest Income (Expense)		2,724			1,182			7,704			663
Income Before Income Taxes				53,275			30,769			139,090			85,004
Income Tax Provision				14,957			7,845			38,124			24,763
NET INCOME			$	38,318		$	22,924		$	100,966		$	60,241
EARNINGS PER COMMON SHARE
Basic			$	0.54		$	0.32		$	1.42		$	0.85
Diluted			$	0.53		$	0.32		$	1.40		$	0.85
Cash Dividend Declared per Common Share			$	-		$	-		$	0.06		$	0.05

DEVRY INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in Thousands)
(Unaudited)
PRELIMINARY
				For The Nine Months
				Ended March 31,
					2008			2007
CASH FLOWS FROM OPERATING ACTIVITIES:
	Net Income			$	100,966		$	60,241
	Adjustments to Reconcile Net Income to Net
	Cash Provided by Operating Activities:
		Stock-Based Compensation Charge			4,287			4,347
		Depreciation			25,997			26,826
		Amortization			4,018			6,568
		Provision for Refunds and Uncollectible Accounts			42,197			39,184
		Deferred Income Taxes			(6,880	)		(2,734	)
		Loss (Gain) on Disposals of Land, Buildings and Equipment			3,760			(20,575	)
		Changes in Assets and Liabilities, Net of Effects from Acquisition of Business:
			Restricted Cash		(8,591	)		(37,412	)
			Accounts Receivable		(116,582	)		(88,120	)
			Inventories		83			4
			Prepaid Expenses And Other		(11,042	)		(2,276	)
			Accounts Payable		2,527			(5,392	)
			Accrued Salaries, Wages, Expenses and Benefits		1,593			12,469
			Advance Tuition Payments		6,985			(4,250	)
			Deferred Tuition Revenue		156,004			135,295
	NET CASH PROVIDED BY OPERATING ACTIVITIES				205,322			124,175
CASH FLOWS FROM INVESTING ACTIVITIES:
	Capital Expenditures				(37,392	)		(27,539	)
	Net Proceeds from Sales of Land and Building				52,571			36,642
	Payment for Purchase of Business, Net of Cash Acquired				(27,590	)		-
	Marketable Securities Purchased				(246,278	)		-
	Marketable Securities-Maturities and Sales				184,854			-
	NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES				(73,835	)		9,103
CASH FLOWS FROM FINANCING ACTIVITIES:
	Proceeds from Exercise of Stock Options				15,487			4,738
	Reissuance of Treasury Stock				787			674
	Repurchase of Common Stock for Treasury				(20,206	)		(5,317	)
	Cash Dividend Paid				(7,840	)		(3,545	)
	Excess Tax Benefit from Stock-Based Payments				2,865			180
	Borrowings from Revolving Credit Facility				25,000			40,000
	Repayments Under Revolving Credit Facilities				(26,895	)		(50,000	)
	Repayments Under Senior Notes				-			(115,000	)
	NET CASH USED IN FINANCING ACTIVITIES				(10,802	)		(128,270	)
Effects of Exchange Rate Differences					(260	)		230
NET INCREASE IN CASH AND CASH EQUIVALENTS					120,425			5,238
Cash and Cash Equivalents at Beginning of Period					129,155			130,583
Cash and Cash Equivalents at End of Period				$	249,580		$	135,821

DEVRY INC.
SEGMENT INFORMATION
(Dollars in Thousands)
PRELIMINARY
	For The Quarter									For The Nine Months
	Ended March 31,									Ended March 31,
							Increase									Increase
		2008			2007		(Decrease)				2008			2007		(Decrease)
REVENUES:
DeVry University	$	222,609		$	191,418			16.3	%	$	630,768		$	549,646			14.8	%
Professional and Training		22,479			17,234			30.4	%		58,549			47,981			22.0	%
Medical & Healthcare		45,885			37,173			23.4	%		125,711			103,017			22.0	%
Total Consolidated Revenues		290,973			245,825			18.4	%		815,028			700,644			16.3	%
OPERATING INCOME:
DeVry University		27,370			12,360			121.4	%		71,151			37,449			90.0	%
Professional and Training		10,930			6,822			60.2	%		24,662			16,819			46.6	%
Medical & Healthcare		14,464			12,596			14.8	%		41,327			37,182			11.1	%
Reconciling Items:
Amortization Expense		(1,513	)		(1,806	)		-16.2	%		(3,914	)		(5,418	)		-27.8	%
Depreciation and Other		(700	)		(385	)		81.8	%		(1,840	)		(1,691	)		8.8	%
Total Consolidated Operating Income		50,551			29,587			70.9	%		131,386			84,341			55.8	%
INTEREST:
Interest Income		2,823			1,956			44.3	%		8,122			5,326			52.5	%
Interest Expense		(99	)		(774	)		-87.2	%		(418	)		(4,663	)		-91.0	%
Net Interest Income (Expense)		2,724			1,182		$	1,542			7,704			663		$	7,041
Total Consolidated Income before Income Taxes	$	53,275		$	30,769			73.1	%	$	139,090		$	85,004			63.6	%
The following table displays the discrete income statement items related to the gains and losses on the sales of operating facilities as a separate component of operating income and income before income taxes. This non-GAAP disclosure of operating results is not preferable to GAAP disclosure but is shown as a supplement to such disclosure to aid comparability between the quarters.
	For The Nine Months
	Ended March 31,
							Increase
		2008			2007		(Decrease)
DeVry University Operating Income	$	71,151		$	37,449			90.0	%
Loss (Gain) on Sale of Assets		3,743			(20,812	)		NM
Separation Plan Severance		-			1,097			NM
DeVry University Operating Income (Loss)
Excluding Gain/Loss on Sale of Assets	$	74,894		$	17,734		$	57,160

CONTACT:
DeVry Inc.
Investor Contact:
Joan Bates
jbates@devry.com
(630) 574-1949
or
Media Contact:
David Gutierrez
dgutierrez@dresnerco.com
(312) 780-7204