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Enrollment dropping at Apollo Group

Apollo Group cited a drop in third-quarter enrollment.
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Apollo Group cited a drop in third-quarter enrollment.

Apollo Group, the for-profit education company that owns the University of Phoenix, said earnings in the fiscal third quarter fell 40 percent as new enrollment tumbled. Income from continuing operations was $80 million, or 71 cents per share, compared with $131.4 million, or $1.11 per share, in the same period a year earlier. Degreed enrollment was also down 17 percent over the previous year. New degreed enrollment was 38,900, down 24.5 percent from a year ago.

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