Businessweek

Education Management Corporation provides post-secondary education in North America. The company had approximately 151,200 enrolled students as of October 2011. The company offers academic programs to its students through campus-based and online instruction, or through a combination of both. It targets a primary market, as its educational institutions offer students the opportunity to earn undergraduate and graduate degrees, including doctoral degrees, and certain specialized non-degree diplomas in a range of disciplines. Each of the company’s schools located in the United States is licensed or permitted to offer post-secondary programs in the state in which it is located, accredited by a national or regional accreditation agency and certified by the U.S. Department of Education, enabling students to access federal student loans, grants, and other forms of public and private financial aid. Segments The company’s operations are organized into four segments: The Art Institutes, Argosy University, Brown Mackie Colleges, and South University. The Art Institutes This segment focuses on applied arts in creative professions, such as graphic design, culinary arts, media arts and animation, interior design, Website development, digital filmmaking and video production, fashion design and marketing, and game art and design. This segment offers associate’s, bachelor’s, and master’s degree programs, as well as selective non-degree diploma programs. Students pursue their degrees through local campuses; online programs through The Art Institute of Pittsburgh, online division; and blended formats, which combine campus-based and online education. As of June 30, 2012, there were 51 Art Institutes campuses in 25 U.S. states and in Canada. Argosy University This segment offers academic programs in psychology and behavioral sciences, business, education, and health sciences disciplines. This segment offers doctoral, master’s, and undergraduate degrees through local campuses, online programs, and blended formats. This segment’s academic programs focus on graduate students seeking advanced credentials as a prerequisite to initial licensing, career advancement, and/or structured pay increases. As of June 30, 2012, there were 20 Argosy University campuses in 13 U.S. states. This segment includes Western State College of Law, which offers Juris Doctor degrees, and the Ventura Group, which provides courses and materials for post-graduate licensure examinations in the human services fields and continuing education courses for K-12 educators. Brown Mackie Colleges This segment offers Associate’s and non-degree diploma programs that enable students to develop skills for entry-level positions in high demand vocational specialties and bachelor’s degree programs that assist students to advance within the workplace. This segment offer programs in improving fields, such as medical assisting, criminal justice, nursing, business, legal support, and information technology. As of June 30, 2012, there were 28 Brown Mackie College campuses in 15 U.S. states. South University This segment offers academic programs in health sciences and business disciplines, including business administration, criminal justice, nursing, information technology, psychology, pharmacy, and physician assisting. This segment offers doctoral, master’s, bachelor’s, and associate’s degrees through local campuses, online programs, and blended formats. As of June 30, 2012 there were 10 South University campuses in 8 U.S. states. Seasonality The company’s first fiscal quarter (for the period ended June 2012) is its lowest revenue recognition quarter due to student vacations. History Education Management Corporation was founded in 1962.