Education Management Corporation expected to Report Q2 2010 Results on February 8, 2010. This event was calculated by Capital IQ (Created on November 5, 2009).

Education Management Corporation reported unaudited consolidated earnings results for the first quarter ended September 30, 2009. For the quarter, the company's net revenues increased 23.1% to $534.4 million, compared to $434.2 million for the same period a year ago. This increase was primarily driven by a 23.1% increase in July student enrollment. Net income for the quarter grew to $15.8 million, or $0.13 per fully diluted share, compared to a net loss of $3.3 million, or $0.03 per fully diluted share, for the same period a year ago. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 52.6% from $59.4 million in the quarter to $90.6 million in the first quarter of fiscal 2010 primarily due to higher student enrollment. Cash flow from operations for the quarter was $200.6 million, compared to $108.7 million in the prior year period. The increase in operating cash flows as compared to the prior year period was primarily related to a $75.3 million increase in advanced payments, which benefited from the timing of its October 2009 academic term start occurring earlier than in the first quarter of fiscal 2009, and increased net income. Capital expenditures were $33.2 million for the quarter compared to $50.8 million in the same period in the prior year. Income before interest and income taxes was $61.8 million compared with $32.8 million for the same period a year ago. Income (loss) before income taxes was $25.5 million compared with loss before income taxes of $5.4 million for the same period a year ago. Capital expenditures for fiscal 2010 are projected to be approximately 6.5% to 7.5% of net revenues compared to 7.5% of net revenues in fiscal 2009.

Education Management Corporation announced the final results of its previously announced cash tender offer for its 10 1/4% Senior Subordinated Notes due 2016 (CUSIP No. 28140JAD2) and its 8 3/4% Senior Notes due 2014 (CUSIP No. 28140JAC4 commenced on September 21, 2009. The tender offer expired at 5:00 p.m., New York City time, on October 20, 2009. As of the Expiration Date, $370,991,000 aggregate principal amount of First Priority Notes had been validly tendered and not validly withdrawn. All of such Notes were validly tendered and not validly withdrawn on or prior to 5:00 p.m., New York City time, on October 6, 2009. In addition, $324,475,000 aggregate principal amount of Second Priority Notes had been validly tendered and not validly withdrawn on or prior to the Early Tender Date. The Company will deliver the aggregate tender offer consideration of $355,464,000, plus an aggregate of approximately $12.6 million for accrued and unpaid interest, to Global Bondholder Services Corporation, the Depositary for the tender offer, on the expected settlement date of October 21, 2009. The Depositary will promptly pay for all First Priority Notes accepted for purchase in the tender offer and will promptly return all validly tendered Notes that were not accepted for purchase.