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College’s stock up even as enrollment falls

CEO Gregory Capelli said Apollo has been aggressive in managing costs.

Fred Prouser/Reuters/File 2012

CEO Gregory Capelli said Apollo has been aggressive in managing costs.

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The for-profit college chain Apollo­ Group jumped after second-quarter profit and sales beat estimates, even as enrollment fell. While sales in the period declined 13 percent to $834.4 million, they were higher than the $824.7 million average of analyst estimates. Net income fell to $13.5 million, or 12 cents a share, from $63.9 million, or 51 cents, a year earlier. Total enrollment at the Phoenix-based company’s University of Phoenix fell 15 percent, to 300,800 from a year earlier, the company said.

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