Kaplan University

Kaplan, United States

Kaplan University

Kaplan, United States
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News Article | May 5, 2017
Site: www.prweb.com

From May 7 – 13, Goodwill® is celebrating Goodwill Industries Week. For 115 years, Goodwill has worked in communities to help people get back to work and support their families. Goodwill helps anyone facing challenges to finding employment — including youth, older job seekers, veterans and military families, immigrants, and people with other specialized needs — gain skills and credentials, find work, obtain job training, and receive necessary support services, such as financial education and transportation. During this year’s Goodwill week, Horizon Goodwill and Kaplan University are collaborating to “Remove Barriers and Create Opportunities”. Kaplan is hosting an Expungement Clinic through Horizon Goodwill’s Legal Expungement Assistance Program, L.E.A.P. For individuals with a criminal history, having even a minor criminal record can be a major barrier. A criminal record can be a lifelong barrier to economic security and mobility—with adverse effects on families and our communities. LEAP brings together the legal, business and social service communities to remove barriers to employment and to create opportunities for participants to pursue financial independence. With a paycheck, an individual can address basic needs like food and clothing. With a clean record (or significantly smaller rap sheet), LEAP participants can target longer-term stability addressing bankability and stable shelter for self and family. Just one expungement increases an individual’s chance of getting an interview which gives them a chance to speak for themselves. The L.E.A.P. Expungement Clinic will be held on Monday, May 8, 2017, at Kaplan University, 18618 Crestwood Drive, Hagerstown, MD from 10:00 AM to 2:00 PM. The clinic is open to the public and everyone is welcome to participate. “This innovative program can be such a blessing to so many. Removing certain charges from an individual’s criminal background can mean jobs that they could never receive before are now open to them,” said John McCain, CEO of Horizon Goodwill. “It is a life-changing program that we are very proud to be offering.” Since the beginning of this program year, Goodwill’s LEAP staff helped than almost 200 participants process 500 expungement applications. Everybody is invited to celebrate Goodwill Week by donating things they used to love and no longer use, shopping at Goodwill for a unique find, or volunteering at Horizon Goodwill. Visit http://www.horizongoodwill.org to find the nearest Goodwill location, event, and learn how you can build a better future for someone in your community. About Horizon Goodwill Goodwill has been rated #1 above the global brands Amazon and Google for the Brand World Value Rankings for 2016. Horizon Goodwill Industries, whose mission is “Removing Barriers, Creating Opportunities,” is a non-profit organization dedicated to ensuring that all people have access to employment despite significant obstacles. Horizon Goodwill serves over 5,000 clients annually in a 17-county region that includes parts of the states of Maryland, Pennsylvania, Virginia, and West Virginia. For more information, please visit http://www.horizongoodwill.org


News Article | May 5, 2017
Site: www.businesswire.com

CHICAGO & FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--More than 575 employees from Kaplan University and Kaplan Higher and Professional Education fanned out once again across the country to volunteer last week Friday (April 28) to support nearly 50 local non-profit organizations as part of their bi-annual serve-a-thon. Service projects included painting and meal preparation at several Ronald McDonald Houses, coordinating education activities with children involved in a Head Start program, cleaning and organizing at a cancer center, public library, and Boys and Girls Club, and participating in engagement therapy with patients at a VA Hospital. The volunteer opportunities are organized as part of Kaplan Higher and Professional Education’s bi-annual Serve-A-Thon, which brings together teams of Kaplan employees for various service projects that help non-profits in need and make our local communities stronger. Since 2015, Kaplan’s Serve-A-Thon volunteers have rolled up their collective sleeves, putting in more than 13,000 service hours working with dozens of local non-profits on some 270 different service projects. The list of the 47 non-profits supported during the April 2017 Serve-A-Thon include Glida’s Club, The Boys and Girls Clubs of Broward County Florida, The Museum of Discovery and Science, The YMCA, Habitat for Humanity, and the United Way. “Our serve-a-thons are a great deal of fun for our employees and one of the many ways Kaplan gives back and makes a positive difference in our local communities throughout the year,” said Stephen White, Kaplan Higher and Professional Education’s Vice President of Communications. Headquartered in Fort Lauderdale, Florida, Kaplan Higher & Professional Education (KHPE) provides shared services that support students and graduates of regionally accredited Kaplan University, which has its main campus in Davenport Iowa and is academic headquarters in Chicago, Illinois. KHPE is part of Kaplan, Inc. which serves over 1.2 million students globally each year through its array of higher education, test preparation, professional education, English-language training, university preparation, and K-12 offerings to individuals, institutions, and businesses. Kaplan is a subsidiary of Graham Holdings Company (NYSE: GHC) and its largest division. For more information, please visit www.kaplan.com.


News Article | May 3, 2017
Site: www.businesswire.com

ARLINGTON, Va.--(BUSINESS WIRE)--Graham Holdings Company (NYSE: GHC) today reported income attributable to common shares of $21.1 million ($3.75 per share) for the first quarter of 2017, compared to $37.8 million ($6.59 per share) for the first quarter of 2016. The results for the first quarter of 2017 and 2016 were affected by a number of items as described in the following paragraphs. Excluding these items, income attributable to common shares was $14.1 million ($2.50 per share) for the first quarter of 2017, compared to $28.2 million ($4.92 per share) for the first quarter of 2016. (Refer to the Non-GAAP Financial Information schedule at the end of this release for additional details.) Items included in the Company’s income for the first quarter of 2017: Items included in the Company’s income for the first quarter of 2016: Revenue for the first quarter of 2017 was $582.7 million, down 3% from $601.7 million in the first quarter of 2016. Revenues declined at the education and television broadcasting divisions, offset by an increase in other businesses. The Company reported operating income of $29.1 million for the first quarter of 2017, compared to $51.9 million for the first quarter of 2016. The operating income decline is driven by lower earnings at the television broadcasting division largely due to a new NBC contract for the Company's NBC affiliates in Houston and Detroit, and a decrease in earnings at Kaplan Higher Education (KHE) due to lower enrollments at Kaplan University. Operating results for other businesses were also down for the quarter. On April 27, 2017, certain Kaplan subsidiaries entered into a Contribution and Transfer Agreement (Transfer Agreement) to contribute the institutional assets and operations of Kaplan University (KU) to a new, nonprofit, public-benefit corporation (New University) affiliated with Purdue University (Purdue) in exchange for a Transition and Operations Support Agreement (TOSA) to provide key non-academic operations support to New University for an initial term of 30 years with a buy-out option after six years. The transfer does not include any of the assets of Kaplan University School of Professional and Continuing Education (KU-PACE), which provides professional training and exam preparation for professional certifications and licensures, nor does it include the transfer of other Kaplan businesses such as Kaplan Test Preparation and Kaplan International. Consummation of the transactions contemplated by the Transfer Agreement is subject to various closing conditions, including, among others, regulatory approvals from the U.S. Department of Education, the Indiana Commission for Higher Education and HLC, which is the regional accreditor of both Purdue and Kaplan University, and certain other state educational agencies and accreditors of programs. Kaplan is unable to predict with certainty when and if such approvals will be obtained; however, it expects that all approvals will not be received until the fourth quarter of 2017. If the transaction is not consummated by April 30, 2018, either party may terminate the Transfer Agreement. Education division revenue totaled $372.9 million for the first quarter of 2017, down 7% from revenue of $401.1 million for the same period of 2016. Kaplan reported operating income of $9.0 million for the first quarter of 2017, compared to $14.5 million for the first quarter of 2016. A summary of Kaplan’s operating results for the first quarter of 2017 compared to 2016 is as follows: KHE includes Kaplan’s domestic postsecondary education businesses, made up of fixed-facility colleges and online postsecondary and career programs. KHE also includes the domestic professional and other continuing education businesses. In the first quarter of 2017, KHE revenue was down 13%, due to declines in average enrollments at Kaplan University, offset by increased revenues at the domestic professional and other continuing education businesses. KHE operating results declined in the first quarter of 2017 due primarily to lower enrollment at Kaplan University. New higher education student enrollments at Kaplan University were up 2% in the first quarter of 2017; however, total students at Kaplan University were 32,536 at March 31, 2017, down 13% from March 31, 2016. Kaplan University enrollments at March 31, 2017 and 2016, by degree and certificate programs, are as follows: Kaplan Test Preparation (KTP) includes Kaplan’s standardized test preparation programs. KTP revenue declined 3% for the first quarter of 2017. Enrollments, excluding the new economy skills training offerings, were down 3% for the first three months of 2017. In comparison to 2016, KTP operating results were down 24% in the first quarter of 2017 due to lower revenues. Operating losses for the new economy skills training programs were $3.8 million and $4.1 million for the first quarter of 2017 and 2016, respectively. Kaplan International includes English-language programs, and postsecondary education and professional training businesses largely outside the United States. In January and February 2016, Kaplan acquired Mander Portman Woodward, a leading provider of high-quality, bespoke education to UK and international students in London, Cambridge and Birmingham; and Osborne Books, an education publisher of learning resources for accounting qualifications in the UK. Kaplan International revenue declined 3% for the first quarter of 2017; on a constant currency basis, revenue increased 4% primarily due to growth in Pathways enrollments. Operating income increased in the first quarter of 2017, due largely to the improved Pathways and English-language results, partially offset by a decline in Singapore. Kaplan corporate and other represents unallocated expenses of Kaplan, Inc.’s corporate office, other minor businesses and certain shared activities. In the first quarter of 2016, Kaplan sold Colloquy, which was a part of Kaplan corporate and other, for a gain of $18.9 million that is included in other non-operating income. On January 17, 2017, the Company closed on its agreement with Nexstar Broadcasting Group, Inc. and Media General, Inc. to acquire WCWJ, a CW affiliate television station in Jacksonville, FL and WSLS, an NBC affiliate television station in Roanoke, VA for $60 million in cash and the assumption of certain pension obligations. The Company continues to operate both stations under their current network affiliations. Revenue at the television broadcasting division decreased 1% to $91.5 million in the first quarter of 2017, from $92.0 million in the same period of 2016. Excluding revenue from the two newly acquired stations, revenue declined 6% due to a $4.2 million decrease in political advertising revenue and lower network revenue, offset by $2.9 million in higher retransmission revenues. As previously disclosed, the Company's NBC affiliates in Houston and Detroit are operating under a new contract with NBC effective January 1, 2017 that has resulted in a significant increase in network fees in 2017, compared to 2016. Operating income for the first quarter of 2017 decreased 37% to $26.0 million, from $41.2 million in the same period of 2016 due to the significantly higher network fees and lower revenues. The Company's television broadcasting division stations are operating under a new retransmission contract with Comcast effective April 1, 2017. Manufacturing includes three businesses: Dekko, a manufacturer of electrical workspace solutions, architectural lighting and electrical components and assemblies; Joyce/Dayton Corp., a Dayton, OH-based manufacturer of screw jacks and other linear motion systems; and Forney, a global supplier of products and systems that control and monitor combustion processes in electric utility and industrial applications. In September 2016, Dekko acquired Electri-Cable Assemblies (ECA), a Shelton, CT-based manufacturer of power, data and electrical solutions for the office furniture industry. Manufacturing revenues and operating income increased in the first three months of 2017 due to growth and improved results at Dekko, including the ECA acquisition. In April 2017, the Company acquired Hoover Treated Wood Products, Inc., a Thomson, GA-based supplier of pressure impregnated kiln-dried lumber and plywood products for fire retardant and preservative applications. The Graham Healthcare Group (GHG) provides home health and hospice services in three states. In June 2016, the Company acquired the outstanding 20% redeemable noncontrolling interest in Residential Healthcare (Residential). Also in June 2016, Celtic Healthcare (Celtic) and Residential combined their business operations and the Company now owns 90% of the combined entity, known as GHG. Healthcare revenues increased 3% in the first three months of 2017, while operating results were down due largely to an increase in information systems and other integration costs. SocialCode is a provider of marketing solutions on social, mobile and video platforms. SocialCode revenues increased 18% in the first quarter of 2017, due to continued growth in digital advertising service revenues. SocialCode reported operating losses of $4.5 million for the first quarter of 2017, compared to $3.0 million in the first quarter of 2016. Other businesses also include Slate and Foreign Policy, which publish online and print magazines and websites; and two investment stage businesses, Panoply and CyberVista. Losses from each of these businesses in the first quarter of 2017 adversely affected operating results. Corporate office includes the expenses of the Company’s corporate office, the pension credit for the Company’s traditional defined benefit plan and certain continuing obligations related to prior business dispositions. The total pension credit for the Company’s traditional defined benefit plan was $18.5 million and $16.0 million in the first three months of 2017 and 2016, respectively. Without the pension credit, corporate office expenses declined slightly in the first three months of 2017. At March 31, 2017, the Company held interests in a number of home health and hospice joint ventures, and interests in several other affiliates. The Company recorded equity in earnings of affiliates of $0.6 million for the first quarter of 2017, compared to $1.0 million for the first quarter of 2016. The Company recorded total other non-operating income, net, of $0.8 million for the first quarter of 2017, compared to $15.1 million for the first quarter of 2016. The 2017 amounts included $1.7 million in foreign currency gains, partially offset by other items. The 2016 amounts included an $18.9 million gain on the sale of a business and a $1.8 million gain on the sale of marketable equity securities, offset by $5.4 million in foreign currency losses and other items. The Company incurred net interest expense of $6.8 million for the first quarter of 2017, compared to $7.4 million for the first quarter of 2016. At March 31, 2017, the Company had $493.3 million in borrowings outstanding at an average interest rate of 6.3% and cash, marketable equity securities and other investments of $1,113.9 million. The Company's effective tax rate for the first three months of 2017 was 11.4%, compared to 37.0% for the first three months of 2016. The low effective tax rate in the first quarter of 2017 is due to a $5.9 million income tax benefit related to the vesting of restricted stock awards. In the first quarter of 2017, the Company adopted a new accounting standard that requires all excess income tax benefits and deficiencies from stock compensation to be recorded as discrete items in the provision for income taxes. Excluding this $5.9 million benefit, the overall income tax rate in the first quarter of 2017 was 36.3%. The calculation of diluted earnings per share for the first quarter of 2017 was based on 5,568,903 weighted average shares outstanding, compared to 5,651,655 for the first quarter of 2016. At March 31, 2017, there were 5,590,529 shares outstanding. On May 14, 2015, the Board of Directors authorized the Company to acquire up to 500,000 shares of its Class B common stock; the Company has remaining authorization for 223,526 shares as of March 31, 2017. This press release contains certain forward-looking statements that are based largely on the Company’s current expectations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results and achievements to differ materially from those expressed in the forward-looking statements. For more information about these forward-looking statements and related risks, please refer to the section titled “Forward-Looking Statements” in Part I of the Company’s Annual Report on Form 10-K. In addition to the results reported in accordance with accounting principles generally accepted in the United States (GAAP) included in this press release, the Company has provided information regarding net income, excluding certain items described below, reconciled to the most directly comparable GAAP measures. Management believes that these non-GAAP measures, when read in conjunction with the Company’s GAAP financials, provide useful information to investors by offering: Net income, excluding certain items, should not be considered substitutes or alternatives to computations calculated in accordance with and required by GAAP. These non-GAAP financial measures should be read only in conjunction with financial information presented on a GAAP basis. The following table reconciles the non-GAAP financial measures to the most directly comparable GAAP measures:


News Article | July 17, 2017
Site: www.businesswire.com

CHICAGO--(BUSINESS WIRE)--Dr. Marilyn Wideman has been named as the dean and vice president of the Kaplan University School of Nursing. Dr. Wideman, with over 40 years of experience, joined the University nearly one year ago as the associate dean of online programs for the School of Nursing and has been serving as the interim dean since April. “Marilyn’s expertise and dedication to the nursing field is a true benefit to our students and the institution,” said Dr. Betty Vandenbosch, President of Kaplan University. “The work she is doing here continues to position the University and the School of Nursing for continued success, including most importantly the graduation of qualified nursing students.” Dr. Wideman started her career with a RN diploma from St. Luke’s School of Nursing in St. Louis, Missouri, earning her BSN and MSN as a psychiatric clinical nurse specialist from St. Louis University and her Doctor of Nursing Practice with a systems leadership focus at Rush University College of Nursing. Previous to Kaplan University, Dr. Wideman’s extensive experience includes progressive leadership and program development roles in varied health care and academic settings at Rush University Medical Center and Capella University. Her grant funded work has focused on developing academic, community, and service partnerships to develop models of care that blend practice, teaching and research and on interprofessional education models for teams working with underserved populations. Dr. Wideman is a Fellow in the American Academy of Nursing and is an accreditation reviewer for Commission on Collegiate Nursing Education and American Nurses Credentialing Center. She has served in leadership roles in national nursing organizations. She recently completed her tenure as a board member on the America Hospital Association’s Association for Community Health Improvement Board and currently serves as the president of the Rush University College of Nursing Alumni Board and a Trustee for Rush University Medical Center. Dr. Wideman is also a peer reviewer for Nursing Outlook and Journal of Nursing Education. Interviews and photo available upon request. Kaplan University offers a different school of thought for higher education. It strives to help adult students unlock their talent by providing a practical, student-centered education that prepares them for careers in some of the fastest-growing industries. The University, which has its main campus in Davenport, Iowa, and its headquarters in Chicago, is accredited by The Higher Learning Commission. Kaplan University serves approximately 32,000 online and campus-based students. The University has 13 campuses in Iowa, Indiana, Nebraska, Maryland, Maine, and Wisconsin, and Kaplan University Learning Centers in Missouri and Maryland. Kaplan University is part of Kaplan Higher Education LLC and Kaplan, Inc., which serves over one million students globally each year through its array of higher education, test preparation, professional education, English-language training, university preparation, and offerings to individuals, institutions, and businesses. Kaplan has operations in over 30 countries, employs more than 15,000 full- and part-time professionals, and maintains relationships and partnerships with more than 1,000 school districts, colleges, and universities, and over 2,600 corporations and businesses. Kaplan is a subsidiary of Graham Holdings Company (NYSE: GHC) and its largest division. For more information, please visit www.Kaplan.com.


"At Voya, we know that education and financial literacy are vital to a fulfilling life — to and through retirement," said Rodney O. Martin, Jr., chairman and CEO of Voya Financial. "We are proud to partner with Scholarship America, who shares our commitment to educating and empowering young people so that they take control of their future. We are thrilled to join in celebrating the 2017 Dreams to Success award recipients — and to honor the extraordinary individuals and organizations who have contributed to their success." Martin and award-winning journalist and TV personality Katie Couric served as honorary co-chairs for the Dream to Success dinner. Decorated Army combat veteran, author, CEO of BridgeEdU and soon-to-be chief executive of Robin Hood, Wes Moore, served as master of ceremonies. Scholarship America recognized three outstanding scholarship programs: the mikeroweWORKS Foundation; Wells Fargo's Veteran Scholarship and Emergency Grant Program and the Houston Livestock Show and Rodeo. The mikeroweWORKS Foundation works hard to debunk myths about the skilled trades and help close the skills gap. Through its scholarship programs, including the Work Ethic Scholarship Program, the Foundation provides financial assistance to people getting trained for skilled jobs that are in demand. The Foundation has granted, or facilitated the granting of, more than $4 million in technical and vocational education to trade schools across the country. Michelle Ahola and Eric Kovacevich, students who've received scholarships through mikeroweWORKS Foundation, presented the award to Mike Rowe. As CEO of the Foundation, Mike Rowe speaks regularly about the country's dysfunctional relationship with work and challenges the persistent belief that a four-year degree is automatically the best path for most people. Ahola studied concrete industry management and Kovacevich is a manufacturing engineering technology student. Wells Fargo's Veteran Scholarship and Emergency Grant program was recognized for its needs-based scholarships and grants that help veterans and spouses of veterans with disabilities obtain education or training necessary to successfully integrate back into civilian life. Scholarship recipient and veteran Amare Lovely, a student at the University of San Diego, and former scholarship recipient Catherine Gonzalez, who now works at Wells Fargo, presented the award to Jerry Quinn, Wells Fargo's Military & Veteran Programs Manager. Since 2012, Wells Fargo has committed more than $75 million to helping military service members, veterans and their families succeed through career transition, financial education and housing initiatives. Founded in 1932 to promote the agriculture industry, the Houston Livestock Show and Rodeo has committed more than $430 million to the youth of Texas and presented nearly 17,000 new and renewable scholarships since the first scholarship was awarded in 1957. Currently more than 2,400 students are on Show scholarships, attending more than 80 different Texas colleges and universities. The value of these scholarships is approximately $47 million. Sarah Brubaker, a NASA aerospace engineer and graduate of the University of Texas in Austin, and Rashard Harris, a civil engineering student at Texas A&M University, presented the award to Houston Livestock Show and Rodeo's Jim Winne. Winne, a native Texan, is the Chairman of the Board-Elect of the Houston Livestock Show and Rodeo™. Winne was elected a Show director in 2004, and a member of the Show's Executive Committee in 2014. Martha Kanter, executive director of the College Promise Campaign, and chair of Scholarship America's Dream Awards Committee, announced 2017 Dream Award recipients. The Scholarship America Dream Award is a unique national program intended to spotlight the gap between college access and completion and the need for students to get through their postsecondary educations and complete their degrees. The awards support students who have successfully completed their first year of college, but who need financial help to continue pursuing their degrees. The 2017 Dream Award recipients are: Umesh Bhandari, University of Texas at Arlington; Mikayla Bridgewater, Missouri University of Science & Technology; Yessenia Cantero Hernandez, Northern Kentucky University; April Lewis, Spelman College; Shun Lin, University of California - Berkeley; Arial Martinez, South Mountain Community College; Jorge Morales, San Francisco State University; Ezekiel Ogden, Northern Arizona University; Tiara Wills, Pratt Institute and Shanell Yenchik, Northern Arizona University.  Additional dinner highlights included recognition of the 15th anniversary of the Families of Freedom Scholarship Fund, which has delivered more than $100 million in scholarships to students affected by the 9/11 attacks and the honoring the legacy of Scholarship America's founder, Dr. Irving A. Fradkin, who passed away in November, 2016. Diploma Sponsors Americans for the Arts BP America Barry Griswell/Performance Management Group Chick-fil-A Horatio Alger Association of Distinguished Americans Kaplan University Lumina Foundation Murthy Law Firm Raymond James Financial Services The World Journal Student Sponsors BP America Baker Tilly Virchow Krause, LLP Jane Chwick Ruth Ann M. Gillis & Michael J. McGuinnis Herman Miller Cares ITW The Principal Financial Group Hosted Tables Robert C. Ballard Bill & Melinda Gates Foundation GEICO Martha Kanter Doug Mello J. Stephen & Joan Putnam Mim Shreck The Structured Finance Industry Group Philip J. & Irmy Webster Wells Fargo Yale New Haven Health "We are very grateful to these generous sponsors, as well as to all who hosted tables or made donations," said Robert C. Ballard, president and CEO of Scholarship America. "In the end, it is all about the students. Education changes lives and we are committed to making postsecondary success possible for all students. We are honored these individuals and organizations share and support this vision too. " Learn more about Scholarship America and see videos and photos from the Dreams to Success Awards Dinner at https://scholarshipamerica.org/dreamstosuccess/. About Scholarship America For nearly 60 years, Scholarship America has worked directly with students, parents, colleges, businesses and communities to empower people to fulfill their college dreams. As the nation's largest private education support organization, having distributed over $3.7 billion to more than 2.3 million students, Scholarship America is now working to further engage the private sector to support programs and policies that advance equity in postsecondary education and help students overcome barriers to access, persistence and attainment. More information is available at scholarshipamerica.org or by following @scholamerica. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/national-dreams-to-success-awards-celebration-honors-outstanding-students-and-scholarship-programs-300464052.html


News Article | May 8, 2017
Site: www.prweb.com

As part of Goodwill Week, Goodwill is hosting its 62nd Annual Awards Program honoring people and businesses that have achieved their goals or improved the lives of individuals by offering employment opportunities. CEO, John McCain said, “This is a memorable evening for everyone who attends. We enjoy honoring people that work hard to improve their lives, and we also like to recognize businesses that have gone above and beyond our expectations to work with individuals that needed support services. Usually, by the end of the evening, there isn’t a dry eye in the building.” Horizon Goodwill is honoring the following individuals and businesses: Employer of the Year: American Woodmark, Cumberland Mission Partner of the Year: Kaplan University, Hagerstown Business Partner of the Year: Ceramcor, Hagerstown Team Spirit Award: The Martinsburg Store Chuck S. Robinette Spirit of Goodwill Award: Ryan Dewitt of Fredrick Achievers of the Year: Raynelle Watson of Hagerstown and Eric Fugate of Cumberland The Awards Dinner Program will be held at Fountainhead Country Club May 10, 2017, from 5:30 P.M. to 8:30 P.M. McCain said, “We are so grateful for all of our business partnerships because without them we certainly couldn’t provide employment opportunities that we now offer. When individuals that overcome barriers see that they can be successful in the workplace, it gives them the confidence to know that they can achieve more in life. Watching them excel makes our work rewarding.” Visit http://www.horizongoodwill.org to find the nearest Goodwill location, event, and learn how you can build a better future for someone in your community. About Horizon Goodwill Goodwill has been rated #1 above the global brands Amazon and Google for the Brand World Value Rankings for 2016. Horizon Goodwill Industries, whose mission is “Removing Barriers, Creating Opportunities,” is a non-profit organization dedicated to ensuring that all people have access to employment despite significant obstacles. Horizon Goodwill serves over 5,000 clients annually in a 17-county region that includes parts of the states of Maryland, Pennsylvania, Virginia, and West Virginia. For more information, please visit http://www.horizongoodwill.org


News Article | February 24, 2017
Site: www.businesswire.com

ARLINGTON, Va.--(BUSINESS WIRE)--Graham Holdings Company (NYSE: GHC) today reported income from continuing operations attributable to common shares of $168.6 million ($29.80 per share) for the year ended December 31, 2016, compared to a net loss of $143.5 million ($25.23 per share) for the year ended December 31, 2015. Net loss attributable to common shares was $101.3 million ($17.87 per share) for the year ended December 31, 2015, including $42.2 million ($7.36 per share) in income from discontinued operations. For the fourth quarter of 2016, the Company reported net income attributable to common shares of $36.9 million ($6.57 per share), compared to $51.2 million ($8.72 per share) for the same period of 2015. In addition to discontinued operations, the results for 2016 and 2015 were affected by a number of items as described in the following paragraphs. Excluding these items, income from continuing operations attributable to common shares was $167.6 million ($29.66 per share) for 2016, compared to $138.1 million ($23.56 per share) for 2015. Excluding these items, net income attributable to common shares was $54.4 million ($9.68 per share) for the fourth quarter of 2016, compared to $50.5 million ($8.60 per share) for the fourth quarter of 2015. (Refer to the Non-GAAP Financial Information schedule attached to this release for additional details.) Items included in the Company’s income from continuing operations for 2016 are listed below, and fourth quarter activity, if any, is highlighted for each item: Items included in the Company’s income from continuing operations for 2015 are listed below, and fourth quarter activity, if any, is highlighted for each item: Revenue for 2016 was $2,481.9 million, down 4% from $2,586.1 million in 2015. Revenues declined at the education division, offset by an increase at the television broadcasting division and in other businesses. The Company reported operating income for 2016 of $303.5 million, compared with an operating loss of $80.8 million in 2015. Operating results improved at the education and television broadcasting divisions, offset by a decline in other businesses. For the fourth quarter of 2016, revenue was $629.6 million, up 2% from $616.4 million in 2015. Revenues increased at the television broadcasting division and other businesses, offset by a decline at the education division. The Company reported operating income of $109.5 million in the fourth quarter of 2016, compared to $67.8 million in 2015. Operating results improved at all divisions. Education division revenue in 2016 totaled $1,598.5 million, down 17% from $1,927.5 million in 2015. For the fourth quarter of 2016, education division revenue totaled $391.2 million, down 7% from $421.5 million for the same period of 2015. Kaplan reported operating income of $93.6 million for 2016, compared to an operating loss of $223.5 million in 2015; Kaplan reported operating income for the fourth quarter of 2016 of $29.9 million, compared to $26.3 million in the fourth quarter of 2015. Kaplan’s 2015 operating results include goodwill and intangible assets impairment charges of $256.8 million. In 2016, operating results at Kaplan Higher Education (KHE) were up and costs at Kaplan corporate and other declined, partially offset by declines at Kaplan Test Preparation (KTP) and Kaplan International. In recent years, Kaplan has formulated and implemented restructuring plans at its various businesses that have resulted in restructuring costs in 2016 and 2015, with the objective of establishing lower cost levels in future periods. Across all businesses, restructuring costs totaled $11.9 million in 2016 and $44.4 million in 2015. Restructuring costs totaled $7.0 million in the fourth quarter of 2016 and $7.6 million in the fourth quarter of 2015. (Refer to the Education Division Information, Summary of Restructuring Charges schedule attached to this release for additional details.) A summary of Kaplan’s operating results is as follows: KHE includes Kaplan’s domestic postsecondary education businesses, made up of fixed-facility colleges and online postsecondary and career programs. KHE also includes the domestic professional training and other continuing education businesses. On September 3, 2015, Kaplan completed the sale of substantially all of the remaining assets of its KHE Campuses business. In connection with these and other plans, KHE incurred $7.2 million and $12.9 million in restructuring costs in 2016 and 2015, respectively. As a result of continued declines in student enrollments at KHE and the challenging industry operating environment, Kaplan completed an interim impairment review of KHE's remaining long-lived assets in the third quarter of 2015 that resulted in a $248.6 million goodwill impairment charge. This goodwill impairment charge followed a $6.9 million long-lived asset impairment charge that was recorded in the second quarter of 2015 in connection with the KHE Campuses business. KHE results, excluding the impairment charge, include revenue and operating losses (including restructuring charges) related to all KHE Campuses, those sold or closed, including Mount Washington College and Bauder College, as follows: In 2016 and the fourth quarter of 2016, KHE revenue declined 27% and 14%, respectively, due to the campus sales and closings, and declines in average enrollments at Kaplan University, offset by increased revenues at the domestic professional and other continuing education businesses. KHE operating income improved in 2016 due to reduced losses at the KHE Campuses business and lower restructuring costs, lower marketing expenditures at Kaplan University and improved results at the domestic professional and other continuing education businesses, partially offset by lower enrollment at Kaplan University. KHE operating results declined in the fourth quarter of 2016 due primarily to lower enrollment at Kaplan University. New higher education student enrollments at Kaplan University declined 22% in 2016 due to lower demand across Kaplan University programs. Total students at Kaplan University were 32,167 at December 31, 2016, down 19% from December 31, 2015. Kaplan University higher education student enrollments by certificate and degree programs are as follows: Kaplan Test Preparation (KTP) includes Kaplan’s standardized test preparation and new economy skills training programs. KTP revenue declined 5% in 2016 and 9% for the fourth quarter of 2016. Enrollments, excluding the new economy skills training offerings, were down 3% in 2016. In comparison to 2015, KTP operating results declined in 2016 due to investment in new economy skills training programs and lower revenues from a change in the enrollment mix to lower priced programs. Operating losses for the new economy skills training programs were $13.0 million and $8.5 million for 2016 and 2015, respectively. Kaplan International includes English-language programs and postsecondary education and professional training businesses largely outside the United States. In the first quarter of 2016, Kaplan acquired Mander Portman Woodward, a leading provider of high-quality, bespoke education to UK and international students in London, Cambridge and Birmingham; and Osborne Books, an education publisher of learning resources for accounting qualifications in the UK. Kaplan International revenue declined 10% in 2016, of which 6% is due to currency fluctuations. The remaining decrease is due to enrollment declines in English-language and Pathways programs. Revenue growth from the 2016 acquisitions was largely offset by revenue declines due to prior year dispositions. Revenue was down slightly in the fourth quarter of 2016; on a constant currency basis, revenue increased 9%, largely due to 2016 acquisitions and growth in Pathways. Kaplan International operating income decreased 10% in 2016, due largely to the reduced English-language and Pathways results and increased restructuring costs, partially offset by operating income from newly acquired businesses. Operating income increased 27% in the fourth quarter of 2016 largely due to improved Pathways results and operating income from newly acquired businesses. The impact of currency fluctuations on comparative operating results was insignificant for 2016 and the fourth quarter of 2016. Restructuring costs at Kaplan International totaled $4.7 million and $1.3 million in 2016 and 2015, respectively. Kaplan corporate and other represents unallocated expenses of Kaplan, Inc.’s corporate office, other minor businesses and certain shared activities. In 2015 and the fourth quarter of 2015, Kaplan corporate recorded $29.4 million and $2.9 million, respectively, in restructuring costs. In 2016, Kaplan corporate expenses also declined due to the benefits from restructuring activities and a reduction in incentive compensation expense. Also, 2015 spending for the replacement of its human resources system did not recur in 2016. In addition to the impairment charges of $255.5 million related to KHE recorded in the second and third quarters of 2015, Kaplan recorded an additional $1.4 million in noncash intangible and other long-lived assets impairment charges in the fourth quarter of 2015, related to businesses at KTP and Kaplan International. In the first quarter of 2016, Kaplan sold Colloquy, which was part of Kaplan corporate and other, for a gain of $18.9 million that is included in other non-operating income. In addition to the sale of the KHE Campuses business in 2015, Kaplan also sold a small business that was part of KHE, and two businesses that were part of Kaplan International. The net loss on the sale of these businesses totaled $24.9 million and is included in other non-operating expense. Revenue at the television broadcasting division increased 14% to $409.7 million, from $359.2 million in 2015; operating income for 2016 was up 22% to $200.5 million, from $164.9 million in the same period of 2015. The revenue increase is due to a $23.9 million increase in political advertising revenue, $18.5 million more in retransmission revenues, and $13.1 million in incremental summer Olympics-related advertising revenue at the Company's NBC affiliates. The increase in operating income is due to the revenue increase, offset by higher spending on digital initiatives and increased network fees. For the fourth quarter of 2016, revenue increased 14% to $108.8 million, from $95.2 million in 2015; operating income for the fourth quarter of 2016 was up 27% to $55.9 million, from $43.8 million in the same period of 2015. The increase in revenue is due to a $13.9 million increase in political advertising revenue and $4.0 million in increased retransmission revenues. The increase in operating income is due to the revenue increase, offset by higher spending on digital initiatives and increased network fees. In May 2016, the Company announced that it had reached an agreement with Nexstar Broadcasting Group, Inc. and Media General, Inc. to acquire WCWJ, a CW affiliate television station in Jacksonville, FL and WSLS, an NBC affiliate television station in Roanoke, VA for $60 million in cash and the assumption of certain pension obligations. The Company will continue to operate both stations under their current network affiliations. This transaction was completed on January 17, 2017. Manufacturing includes three businesses: Dekko, a manufacturer of electrical workspace solutions, architectural lighting and electrical components and assemblies acquired in November 2015; Joyce/Dayton Corp., a Dayton, OH-based manufacturer of screw jacks and other linear motion systems; and Forney, a global supplier of products and systems that control and monitor combustion processes in electric utility and industrial applications. Manufacturing revenues and operating income increased in 2016 due primarily to the Dekko acquisition. Also, in September 2016, Dekko acquired Electri-Cable Assemblies (ECA), a Shelton, CT-based manufacturer of power, data and electrical solutions for the office furniture industry. The Graham Healthcare Group (GHG) provides home health and hospice services in six states. In June 2016, the Company acquired the outstanding 20% redeemable noncontrolling interest in Residential Healthcare (Residential). Also in June 2016, Celtic Healthcare (Celtic) and Residential combined their business operations and the Company now owns 90% of the combined entity, known as GHG. The Company incurred approximately $2.0 million in expenses in conjunction with these transactions in the second quarter of 2016. Healthcare revenues increased 8% in 2016 due primarily to patient growth for both home health and hospice. Operating results were down in 2016, largely due to the expenses incurred related to the transactions in the second quarter of 2016 and an increase in information systems and other integration costs. In June 2016, Residential and a Michigan hospital formed a joint venture to provide home health services to West Michigan patients. Residential manages the operations of the joint venture and holds a 40% interest. The pro rata operating results of the joint venture are included in the Company's equity in earnings of affiliates. In connection with this transaction, the Company recorded a pre-tax gain of $3.2 million in the second quarter of 2016 that is included in other non-operating income. In January 2015, Celtic and Allegheny Health Network formed a joint venture to combine each other's home health and hospice assets in the western Pennsylvania region. Celtic manages the operations of the joint venture for a fee and holds a 40% interest. The pro rata operating results of the joint venture are included in the Company's equity in earnings of affiliates. In connection with this transaction, the Company recorded a noncash pre-tax gain of $6.0 million in the first quarter of 2015 that is included in other non-operating income. SocialCode is a provider of marketing solutions on social, mobile and video platforms. SocialCode revenues increased 28% in 2016 and 23% in the fourth quarter of 2016, due to continued growth in digital advertising service revenues. SocialCode reported operating losses of $12.4 million in 2016; these results include incentive accruals of $12.8 million related to phantom equity appreciation plans. The expense amount related to these plans for 2015 was $2.0 million. Other businesses also includes Slate and Foreign Policy, which publish online and print magazines and websites; and two investment stage businesses, Panoply and CyberVista. Losses from each of these businesses in 2016 adversely affected operating results. In addition, Slate recorded a goodwill impairment charge of $1.6 million in the fourth quarter of 2016. In November 2015, the Company announced that Trove, a digital innovation team, would largely be integrated into SocialCode and that Trove’s existing offerings would be discontinued. In connection with this action, the Company recorded a $2.8 million goodwill impairment charge at Trove in the fourth quarter of 2015, along with $0.5 million in severance costs. In the second quarter of 2015, the Company sold The Root, an online magazine; the related gain on disposition is included in other non-operating expense, net. Corporate office includes the expenses of the Company’s corporate office, the pension credit for the Company’s traditional defined benefit plan and certain continuing obligations related to prior business dispositions. In the fourth quarter of 2016, the Company recorded an $18.0 million gain related to a bulk lump sum pension program offering. In the fourth quarter of 2015, the Company recorded $6.0 million in incremental stock compensation expense due to the modification of restricted stock awards and implemented a Special Incentive Program that resulted in expense of $0.9 million, which was funded from the assets of the Company’s pension plan. In the third quarter of 2015, the Company recorded $18.8 million in incremental stock option expense, due to stock option modifications that resulted from the Cable ONE spin-off. Excluding the pension gain and other pension incentive expense, the total pension credit for the Company's traditional defined benefit plan was $64.1 million and $83.2 million for 2016 and 2015, respectively. Excluding the pension credit and incremental stock compensation expense in 2015, corporate office expenses declined in 2016 due primarily to lower compensation costs. At December 31, 2016, the Company held interests in a number of home health and hospice joint ventures, and interests in several other affiliates. The company recorded equity in losses of affiliates of $7.9 million for 2016, compared to $0.7 million in 2015. In the fourth quarter of 2016, the Company recorded an $8.4 million write-down on its investment in HomeHero, a company that managed an online senior home care marketplace. The Company recorded total other non-operating expense, net, of $12.6 million in 2016, compared to $8.6 million in 2015. For the fourth quarter of 2016, the Company recorded other non-operating expense, net, of $28.5 million, compared to income of $21.3 million for the fourth quarter of 2015. The 2016 non-operating expense, net, included $39.9 million in foreign currency losses ($6.6 million in foreign currency losses in the fourth quarter); $29.4 million in cost method investment write-downs ($14.2 million in the fourth quarter); and $1.8 million in net losses on the sales of marketable securities ($8.0 million loss in the fourth quarter), partially offset by a $34.1 million gain on the sale of land; an $18.9 million gain on the sale of a business; a $3.2 million gain on the Residential joint venture transaction and other items. The 2015 non-operating expense, net, included $23.3 million in losses from the sales of businesses, $15.6 million in unrealized foreign currency losses ($0.6 million in unrealized foreign currency gains in the fourth quarter) and other items, offset by a fourth quarter $21.4 million gain on the sale of land from Robinson Terminal, a $6.0 million gain on the formation of a Celtic joint venture and a $4.8 million increase to the gain from the 2014 sale of Classified Ventures. The Company incurred net interest expense of $32.3 million in 2016, compared to $30.7 million in 2015; net interest expense totaled $9.8 million and $7.4 million for the fourth quarters of 2016 and 2015, respectively. At December 31, 2016, the Company had $491.8 million in borrowings outstanding at an average interest rate of 6.3%, and cash, marketable securities and other investments of $1,119.1 million. At December 31, 2015, the Company had $399.8 million in borrowings outstanding at an average interest rate of 7.2%, and cash, marketable securities and other investments of $1,154.4 million. In July 2016, a Kaplan UK company entered into a four-year loan agreement for a £75 million borrowing. The overall effective interest rate is 2.01%, taking into account an interest rate swap agreement the Company entered into on the same date as the borrowing. The Company's effective tax rate for 2016 was 32.4%. In the third quarter of 2016, a net nonrecurring $8.3 million deferred tax benefit related to Kaplan's international operations was recorded. In the second quarter of 2016, the Company benefited from a favorable $5.6 million out of period deferred tax adjustment related to the KHE goodwill impairment recorded in the third quarter of 2015. Excluding the effect of these items, the effective tax rate in 2016 was 37.9%. The Company recorded a tax provision on the pre-tax loss from continuing operations in 2015, as a large portion of the goodwill impairment charges and the goodwill included in the loss on the KHE Campuses sale were permanent differences not deductible for income tax purposes. Excluding the effect of these permanent differences, the effective tax rate for continuing operations in 2015 was 38.1%. In 2015, the Company completed the spin-off of Cable ONE as an independent, publicly traded company and the sale of a school in China that was previously part of Kaplan International. As a result of these transactions, income from continuing operations excludes the operating results and related loss, if any, on dispositions of these businesses, which have been reclassified to discontinued operations, net of tax, in 2015. The calculation of diluted earnings per share for 2016 and the fourth quarter of 2016 was based on 5,588,733 and 5,555,510 weighted average shares, respectively, compared to 5,727,074 and 5,833,850 weighted average shares, respectively, for 2015 and the fourth quarter of 2015. At December 31, 2016, there were 5,576,436 shares outstanding. On May 14, 2015, the Board of Directors authorized the Company to acquire up to 500,000 shares of Class B common stock; the Company has remaining authorization for 224,276 shares as of December 31, 2016. This report contains certain forward-looking statements that are based largely on the Company’s current expectations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results and achievements to differ materially from those expressed in the forward-looking statements. For more information about these forward-looking statements and related risks, please refer to the section titled “Forward-Looking Statements” in Part I of the Company’s Annual Report on Form 10-K. * Includes $1.7 million and $2.1 million in third quarter 2015 expenses related to a Special Incentive Program (SIP) at Higher Education and Corporate, respectively. The SIP expense was funded from the assets of the Company's pension plan. In addition to the results reported in accordance with accounting principles generally accepted in the United States (GAAP) included in this press release, the Company has provided information regarding income from continuing operations excluding certain items described below reconciled to the most directly comparable GAAP measures. Management believes that these non-GAAP measures, when read in conjunction with the Company’s GAAP financials, provide useful information to investors by offering: Income from continuing operations excluding certain items should not be considered substitutes or alternatives to computations calculated in accordance with and required by GAAP. These non-GAAP financial measures should be read only in conjunction with financial information presented on a GAAP basis. The following table reconciles the non-GAAP financial measures to the most directly comparable GAAP measures:


News Article | February 24, 2017
Site: www.businesswire.com

LOS ANGELES--(BUSINESS WIRE)--Concord Law School at Kaplan University, the nation’s first fully-online law school, held its 26th graduation today at the Skirball Cultural Center in Los Angeles, celebrating 100 new graduates. The graduating class includes 60 graduates of the Juris Doctor program, 38 graduates of the Executive Juris Doctor program and two graduates of Concord’s Small Business Practice LLM program. "I am so proud of our graduates, who have managed the challenge of law school on top of full-time work and family commitments. I am also excited for them, as we are at a moment when the legal profession is increasingly recognizing the need to utilize technology to reduce cost and expand access, both for lawyers and the clients they would serve--precisely what an online law school provides," said Dean Pritikin. The keynote address was given by Paul R. Kiesel, a partner at Kiesel Law LLP, and the Immediate-Past President of the Los Angeles County Bar Association, where he also served as past Chair of its Litigation Section. Currently Mr. Kiesel is the Co-Chair of the Open Courts Coalition, a bipartisan committee of attorneys from throughout California advocating for full-funding of the civil justice system. "Concord graduates are what the legal profession needs right now. They bring maturity of prior work and life experience to the practice of law; and they are not burdened by the high debt levels associated with traditional law schools, and so have more flexibility to pursue their goals and represent a wide variety of clients,” said Mr. Kiesel. During the commencement, several graduates were recognized for outstanding achievement, including: In addition to the commencement ceremony, The Honorable Judith L. Meyer, Los Angeles Superior Court, was present to officiate the swearing in of Concord Law School graduate Andrew Bell, class of 2016, to the California State Bar. A resident of Clackamas, OR, attorney Bell is one of more than 550 Concord graduates who have sat for and passed the California State Bar exam. Concord Law School is the nation's first fully online law school. Since opening its virtual doors in 1998, Concord has educated more than 2,200 graduates who have earned their Juris Doctor (JD) or Executive Juris DoctorSM (EJD) degree. Concord Law School is part of Kaplan University, which is regionally accredited by The Higher Learning Commission. Kaplan University, furthermore, is part of Kaplan Higher Education LLC and Kaplan, Inc., which serves over one million students globally each year through its array of higher education, test preparation, professional education, English-language training and university preparation to individuals, institutions, and businesses. Kaplan has operations in over 30 countries, employs more than 15,000 full- and part-time professionals, and maintains relationships and partnerships with more than 1,000 school districts, colleges, and universities, and over 2,600 corporations and businesses. Kaplan is a subsidiary of Graham Holdings Company (NYSE: GHC) and its largest division. For more information, please visit, www.kaplan.com.


News Article | February 24, 2017
Site: www.24-7pressrelease.com

NEW YORK, NY, February 24, 2017 /24-7PressRelease/ -- Katheryn M. Csonka, Assistant Professor of Nursing at Daytona State College has been selected to join the Nursing Board at the American Health Council. She will be sharing her knowledge and expertise on Nursing, Nursing Education and Patient Safety. With over two decades of experience in the field of Nursing, Katheryn offers valuable insight in her role as an Assistant Professor of Nursing at Daytona State College. Established in 1957, Daytona State College serves as a comprehensive public college offering various programs from certificate, associate, and baccalaureate degrees in include health care, emergency services, business, education, hospitality, engineering, technology and more. As an Assistant Professor of Nursing at Daytona State College, Katheryn's day-to-day responsibilities include teaching full-time at Daytona State College. In addition to her role at Daytona State College, Katheryn serves as an Adjunct Professor School of Nursing at Kaplan University and a Visiting Professor School of Nursing at Chamberlain College of Nursing. In 2013, Katheryn earned her Master of Science in Nursing from Walden University. Prior to graduating with her Master of Science in Nursing, Katheryn earned her Certification as a Registered Nurse from Cuyahoga Community College in 1995. Currently, she is working towards her Doctorate of Philosophy from the Capella University. Katheryn maintains affiliation with Sigma Theta Tau, Academy of Medical Surgical Nurses; American Association of Colleges of Nursing, Historical Nurses Association and American Nurses Association. Katheryn's desire to pursue the field of Nursing developed through the influence and the example of her mother's nursing career. Looking back, she attributes her success to her drive to always improve. In her free time, Katheryn enjoys baking, cooking, and traveling. She is proud to have rescued two Daschsuhunds. Considering the future, she hopes to continue teaching, mentoring, and moving into a leadership position involving course development.


The International Nurses Association is pleased to welcome Wendy Bryant, RN, to their prestigious organization with her upcoming publication in the Worldwide Leaders in Healthcare. Wendy Bryant is a Registered Nurse with 11 years of experience in her field and an extensive expertise in all facets of nursing, especially medical/surgical nursing. Wendy is currently serving patients as a Charge Nurse within Navarro Regional Hospital in Corsicana, Texas. Wendy Bryant attended the University of Mary Hardin Baylor in Belton, Texas, graduating with her Bachelor of Science Degree in Nursing in 2005. An advocate for continuing education, Wendy is currently pursuing her Master of Science Degree in Nursing with a Family Nurse Practitioner concentration at Kaplan University. She holds additional certifications in Advanced Cardiac Life Support, Basic Life Support, Pediatric Advanced Life Support, and is also EKG and Telemetry Certified. To keep up to date with the latest advances and developments in nursing, Wendy maintains a professional membership with the American Nurses Association. Throughout her career, Wendy has worked in many areas of the nursing field, including pediatrics, geriatrics, home health care, and in hospital settings. She attributes her success to her mother, who has always been a strong influence in her life. When she is not assisting her patients, Wendy enjoys running marathons. Learn more about Wendy Bryant here: http://inanurse.org/network/index.php?do=/4135237/info/ and be sure to read her upcoming publication in Worldwide Leaders in Healthcare.

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