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Capella Education Company (CPLA) filed Quarterly Report for the period ended 2011-09-30.
Capella Education Company has a market cap of $476.2 million; its shares were traded at around $31.32 with a P/E ratio of 8.1 and P/S ratio of 1.1. Capella Education Company had an annual average earning growth of 49% over the past 5 years.
This is the annual revenues and earnings per share of CPLA over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of CPLA.
Highlight of Business Operations:
Reduction of workforce. In February 2011, we implemented a strategic reduction of workforce by eliminating approximately 120 positions and incurred charges of approximately $1.9 million in the first nine months of 2011 in connection with this reduction in employment. We expect to realize related employee compensation expense reductions and other discretionary spending reductions of approximately $12.0 to $12.5 million annualized.Reduction of workforce expenses. In February 2011, we implemented a strategic reduction of workforce by eliminating approximately 120 positions and incurred charges of approximately $1.9 million in the nine months ended September 30, 2011. As of September 30, 2011, there was no remaining liability related to the reduction of workforce. We expect to realize related employee compensation expense reductions and other discretionary spending reductions of approximately $12.0 to $12.5 million annualized.
We financed our operations and capital expenditures during the nine months ended September 30, 2011 and 2010 through cash provided by operating activities. Our cash, cash equivalents and marketable securities were $138.5 million and $193.2 million at September 30, 2011 and December 31, 2010, respectively. Our cash, cash equivalents and marketable securities decreased primarily due to an increase in share repurchase activity during the nine months ended September 30, 2011.
Our cash used in investing activities is primarily related to the purchase or maturity of investments in marketable securities, investments in property and equipment, and the acquisition of RDI. Net cash used in investing activities was $5.5 million for the nine months ended September 30, 2011 and $50.0 million for the nine months ended September 30, 2010. Investments in marketable securities consist of purchases and maturities of tax-exempt municipal securities. Net (purchases) and maturities of these securities were $27.2 million during the nine months ended September 30, 2011, and ($30.7) million during the nine months ended September 30, 2010. The net change is attributable to higher purchases of marketable securities in 2010 compared to 2011, and maturities of marketable securities in 2011 that are now held as cash and cash equivalents at September 30, 2011.
Net cash used in financing activities was $75.6 million and $26.1 million for the nine months ended September 30, 2011 and 2010, respectively. In the first nine months of 2011, we repurchased $78.1 million of common stock under our repurchase program compared to $36.5 million in the first nine months of 2010. Due to timing, cash payments made for shares repurchased in the first nine months of 2011 were $77.3 million.
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