CHARLES TOWN, W.Va.--(BUSINESS WIRE)--

American Public Education, Inc. (APEI) parent company of online learning provider American Public University System (APUS), which operates through American Military University (AMU) and American Public University (APU) announced financial results for the quarter ended June 30, 2012.

Recent Highlights:

Financial and Other Results:

Total revenues for the second quarter of 2012 increased 23% to $74.6 million, compared to total revenues of $60.8 million in the second quarter of 2011. Income from operations before interest income and income taxes in the second quarter of 2012 increased to $15.0 million, compared to $14.9 million in the same period of 2011. Stock-based compensation expense reduced operating income by $917,000 in the second quarter of 2012 and $746,000 in the second quarter of 2011.

Net income for the second quarter of 2012 increased to $9.2 million, or $0.51 per diluted share, which includes $0.03 per diluted share in stock-based compensation expense, net of tax. This compares to net income of $9.0 million, or $0.49 per diluted share for the second quarter of 2011, including $0.02 per diluted share in stock-based compensation expense, net of tax. The weighted average diluted shares outstanding for the second quarter of 2012 and 2011 were approximately 18.2 million and 18.3 million, respectively.

For the six months ended June 30, 2012, total revenues were $150.4 million, an increase of 26% compared to total revenues of $119.5 million in the same period of 2011. Income from operations before interest income and income tax for the six months ended June 30, 2012 increased to $29.9 million, compared to $28.0 million in the same period of 2011. Stock-based compensation expense reduced each period's operating income by $1.9 million and $1.6 million, respectively.

Net income for the six months ended June 30, 2012 to $18.3 million, or $1.01 per diluted share, which includes $0.07 per diluted share in stock-based compensation expense, net of tax. This compares to net income of $16.8 million, or $0.92 per diluted share, in the same period of 2011, including $0.05 per diluted share in stock-based compensation expense, net of tax. The weighted average diluted shares outstanding for the six months ended June 30, 2012 and 2011 were approximately 18.2 million and 18.4 million, respectively.

Total cash and cash equivalents as of June 30, 2012 were approximately $116.7 million with no long-term debt. Cash from operations for the six months ended June 30, 2012 was approximately $22.7 million, compared to $25.7 million in the same period of 2011. Capital expenditures were approximately $18.9 million for the six months ended June 30, 2012, compared to $6.8 million in the prior year period. Depreciation and amortization was $5.4 million for the six months ended June 30, 2012 and $4.3 million for the same period of 2011.

Net Course Registrations:

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American Public Education Reports Second Quarter 2012 Results