Exhibit 99.1
DeVry Inc. Announces 2005 Fall Enrollment; DeVry
University Reports Positive New Undergraduate Enrollment
OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--Dec. 5, 2005--DeVry Inc.
(NYSE:DV), an international higher education company, today reported
fall 2005 enrollment at DeVry University.
New undergraduate student enrollment for fall 2005 increased by
6.4 percent to 10,663, compared with 10,018 in the previous year.
Total undergraduate student enrollment was 38,546, or 2.3 percent
lower than 39,450 in fall 2004.
At DeVry University's Keller Graduate School of Management (KGSM),
the number of coursetakers for the 2005 November session increased 3.3
percent to 12,777, compared with 12,368 a year ago.
The total number of online undergraduate and graduate coursetakers
in November 2005 increased 50 percent to 24,357, compared with 16,236
in the same term a year ago.
As previously reported, the number of new students enrolled at
Ross University for the September 2005 term increased 40.6 percent to
575, compared with 409 in the September 2004 term. Total Ross students
in the September term were 3,227, or 3.8 percent lower than the prior
year. Last year, Ross University raised its admission criteria and
increased its academic progress requirements, which negatively
affected new student recruiting, student retention and total
enrollments during fiscal 2005.
"We are pleased to see the third positive new student enrollment
intake this year, as our new marketing programs appear to be producing
positive results," said Ronald Taylor, chief executive officer of
DeVry Inc. "Although DeVry University has not yet recaptured its share
of full-time campus-based undergraduate enrollments, technology
enrollments in all delivery modes increased 4.4 percent over the prior
year. This was the first increase in new technology enrollments in
more than three years."
"During the fall recruiting period, DeVry University's Houston and
South Florida campuses were negatively impacted by temporary closures
as they recovered from the effects of Hurricanes Katrina and Rita,"
said Daniel Hamburger, president and chief operating officer. "In
addition, graduate school marketing and recruiting programs did not
achieve their objectives for this session. However, we expect improved
graduate enrollments in 2006 as the result of new and more focused
marketing and recruiting initiatives."
The company also announced that it has completed the sale of its
facility in Denver, Colorado, which had been offered for sale in
fiscal 2005. Financial results for the company's fiscal 2006 second
quarter will be announced after-market on January 26, 2006, with a
conference call to follow at 3:30 p.m. Central time.
Fall 2005 Enrollment Results
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DeVry University Fall 2005 Fall 2004 Increase/
(excluding Toronto) (Decrease)
New undergraduate students
(onsite/online) 10,663 10,018 6.4%
Total undergraduate students
(onsite/online) 38,456 39,450 (2.3%)
November November Increase/
2005 2004 (Decrease)
Graduate coursetakers
(onsite/online) 12,777 12,368 3.3%
Online coursetakers(a) 24,357 16,236 50%
September September Increase/
2005 2004 (Decrease)
Ross University
Total students 3,227 3,353 (3.8%)
(a) Online coursetakers are included in the total undergraduate and
graduate enrollment number.
DeVry Inc. (NYSE:DV) is the holding company for DeVry University,
Ross University, Deaconess 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, business and management. Ross University, through its
schools of Medicine and Veterinary Medicine, offers both doctor of
medicine and doctor of veterinary medicine degree programs. Deaconess
College of Nursing offers associate and bachelor's degree programs in
nursing. Becker Professional Review, which includes Stalla CFA Review,
provides preparatory coursework for the certified public accountant
and chartered financial analyst exams. DeVry Inc. is based in Oakbrook
Terrace, Ill. For more information about the company, visit
http://www.devryinc.com/
Certain statements contained in this release, including those that
affect 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. 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 in the Company's most
recent Annual Report on Form 10-K for the year ending June 30, 2005
filed with the SEC September 13, 2005, especially in the section
entitled "Forward Looking Statements" at the beginning of Part I and
in the subsections of "Item 1 - Business" entitled "Competition,"
"Student Recruiting," "Accreditation and Approvals," "Tuition and
Fees," "Financial Aid and Financing Student Education," "Career
Services" and "Faculty."
CONTACT: DeVry Inc.
Joan Bates (Investors), 630-574-1949
jbates@devry.com
or
Dresner Corporate Services
Sarah Komuniecki (Media), 312-780-7208
skomuniecki@dresnerco.com