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American Public Education Filing Takes Toll (APEI)

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By Douglas A. McIntyre Published
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American Public Education, Inc. (NASDAQ: APEI) filed to sell just over 4.2 million shares of common stock after the close yesterday after earnings and it is taking its toll on shares this morning. 

Affiliates of backer ABS Capital Partners are selling out what appearsto be the entire 23.4% stake in the company.   

The company is a provider of online post-secondaryeducation directed at the needs of the military and public servicecommunities.  It operates American MilitaryUniversity and American Public University.

The company also gave earnings after the close.  Net courseregistrations of approximately 38,900 in the third quarter of 2008, ayear-over-year increase of 54%.  Net income for the third quarter of2008 increased approximately 72% to $3.8 million, or $0.20 per share, compared with $2.2 million,or $0.18 per share, in the sameperiod of 2007.  Its third quarter 2008 revenue increased 56% to $27.4million, compared with $17.6 million in the third quarter of 2007.

Shares are trading down almost 7% at $40.11 on over 200,000 shares this morning.  Its 52-week trading range is $27.56 to $53.24.

JON C. OGG
NOVEMBER 13, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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