eCollege and DeVry Extend Partnership to Meet Growing Demand for Online Programs
â€œAs we see an increasing number of students moving across delivery modes, we believe eCollegeâ€™s comprehensive technology and service solution provides a seamless and high-quality experience for our students, while also enabling us to better meet our studentsâ€™ evolving needs,â€ said Daniel Hamburger, president and chief operating officer of DeVry Inc. â€œOur long-term partnership with eCollege has been instrumental in helping us achieve strong growth in our online programs.â€
eCollege and DeVry began their strategic partnership in 1997. In 2003, DeVry University standardized all of its eLearning offerings on the eCollege System, making eCollege its sole provider for its growing and diversifying enterprise-wide programs. DeVry Universityâ€™s standardization provides all students and faculty with a consistent experience whether accessing courses online, on-campus or through a combination of both delivery modes in a hybrid approach. This is especially critical given DeVry Universityâ€™s emphasis on making its programs and delivery options more competitive for its students, many of whom prefer the convenience and flexibility of having both online and on-campus options.
â€œDeVry University has established itself as a leader in online education by meeting the diverse needs and growing demand of its students through greater educational opportunities,â€ said Oakleigh Thorne, chairman and CEO of eCollege. â€œWe are very proud to play a significant role in such a successful online operation, and we look forward to further helping DeVry enhance the learning process for all of its students.â€
About DeVry Inc.
DeVry Inc. (NYSE:DV) is the holding company for DeVry University, Ross University 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 degrees. Becker Professional Review provides preparatory coursework for the certified public accountant, certified management accountant and chartered financial analyst exams. DeVry Inc. is based in Oakbrook Terrace, Ill. For more information about the company, visit http://www.devry.com.
eCollege [Nasdaq: ECLG] is a leading provider of value-added information services to the post-secondary and K-12 education industries. The Companyâ€™s eLearning Division designs, builds and supports some of the most successful, fully online degree, certificate/diploma and professional development programs in the country. The Companyâ€™s Enrollment Division, Datamark, Inc., helps institutions build new enrollments and increase student retention. Customers include publicly traded for-profit institutions, community colleges, public and private universities, school districts and state departments of education. eCollege was founded in 1996 and is headquartered in Denver. Datamark was founded in 1987 and is headquartered in Salt Lake City. For more information, visit www.eCollege.com and www.Datamark.com.
This news release contains statements that are not historical in nature and that may be characterized as â€œforward-looking statementsâ€ within the meaning of the securities laws, including statements regarding: the success, expected results, and functionality of our products and services; adequacy of our products and services to support customer requirements; customer satisfaction with our products and services; the success of our customers; and any other statements that are not historical facts. You can identify such statements when you see words such as â€œwill,â€ expect,â€ â€œplan,â€ â€œbelieveâ€ and similar expressions. These statements are based on managementâ€™s current expectations and are subject to a number of uncertainties and risks. Actual results may differ materially. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, but are not limited to: the difficulty in predicting future growth due to the early stage of and rapid changes in the market for our products and services; our eLearning customersâ€™ ability to continue to build, grow and market their online programs; the difficulty in predicting changes in the mix of marketing products and services employed by customers of our Enrollment Division; substantial competition, including pricing competition, in the online education and enrollment and retentions services markets; technological developments, emerging industry standards and government regulations, and customer requirements, which continually require us to improve our software and services; a significant portion of our revenue is generated from a relatively small number of customers; our debt obligations could adversely affect our financial health and our ability to obtain financing and react to changes in our business; the possibility that we may not be able to achieve continued growth or profitability, or maintain current levels of revenue; our ability to protect our intellectual property and other proprietary rights from infringement; the impact of laws and regulations affecting education and the Internet; the ability of the Company to retain key executives at eCollege and Datamark; our lengthy sales cycle; our network infrastructure and computer systems failing; the vulnerability of our network to security risks; the possibility that we may not be able to raise additional capital on acceptable terms; Datamark’s ability to develop and sustain long-term customer relationships; the cost of marketing activities, including mailing lists, materials and postal rates; the use in these estimates of preliminary allocations of the assets acquired and liabilities assumed from Datamark and the possibility that the Datamark operations could be disruptive to our existing business, may not be successfully integrated, and may not live up to financial or business expectations and the additional debt incurred increases our leverage and fixed debt service obligations; the effects general economic conditions may have on our revenues; and such other factors as are discussed in our most recent Form 10-K/A Annual Report and Form 10-Q Quarterly Report filed with the U.S. Securities and Exchange Commission (â€œSECâ€), which you are encouraged to review in connection with this release. We believe that these forward-looking statements are reasonable; however, you should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date of this release. We are not obligated to publicly release any revisions to forward-looking statements to reflect events after the date of this release.
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