Career Education to sell off several schools

(Reuters) — Career Education Corp., a for-profit education company, said on Wednesday that it plans to sell several schools and campuses to focus on its stronger offerings.

The planned divestitures include the nine campuses comprising the Katherine Gibbs schools; McIntosh College in Dover, New Hampshire; the Long Beach and Sunnyvale, California, campuses belonging to Brooks College; and Lehigh Valley College near Allentown, Pennsylvania.

The company's shares rose 13 cents to $24.25 on the Nasdaq. They are down about 29 percent for the year.

Career Education, based in Hoffman Estates, Illinois, did not identify prospective buyers. It said it will continue to invest in the schools during the divestiture process.

You May Also Like   

Suggested Searches   

Crain’s Briefing

Career Education Corp.

Career Education Corporation (CEC) is an educational services company. The Company’s schools and… more

Steven LesnikChairman of the Board

Gary McCulloughPresident, Chief Executive Officer, Director

From The Lists

Your resource for everything related to business in Chicago.

#55	Publicly-traded companies (2007)

See Full Briefing

For the year, analysts on average expect the company to report a profit of $1.52 per share on revenue of $1.97 billion, according to Reuters Estimates.

The company operates more than 80 campuses with about 100,000 students.

What do you think?

Today's Features

• 
  POLL: Why did Blagojevich appoint Burris?

  U.S. Senate Democratic leaders repeated their vow Tuesday not to seat anybody Gov. Blagojevich appoints. So why did he go ahead with the Burris appointment?

  See More