Lincoln hopes its graduates are better " Abe-l" to get a career. Lincoln Educational Services provides vocational programs from schools including Lincoln Technical Institute, Nashville Auto-Diesel College, and Euphoria Institute of Beauty Arts and Sciences. It offers programs in automotive technology, health sciences, skilled trades (including HVAC and electronics), hospitality services, and IT/business. More than 20,000 students are enrolled at some 45 campuses more than 15 states throughout the US. Lincoln tends to grow by buying smaller schools and by opening campuses in new markets. It also expands its campus facilities to accommodate higher enrollment numbers.
Lincoln Educational Services operates 46 campuses in 17 states. Of those schools, 20 are located in New Jersey, Connecticut, and Pennsylvania.
Lincoln's revenue fell 20% in 2011 vs. 2010, as enrollment as its schools declined 23% year to year. The decrease in its student population was partially offset by higher tuition fees. (The company on average increases tuition annually by 3% to 5%.) The 2011 revenue decline reversed three years of growing sales and profitability. Indeed, net income plunged 75% in 2011 vs. 2010.
Expanding areas of study, its facilities (including online options), and geographic presence are all part of Lincoln's growth strategy. In 2011 the company opened new schools in Columbus and Cleveland, Ohio. In 2009 it opened a new college in Toledo, after opening a third Euphoria campus in Las Vegas in 2008.
Lincoln Educational Services' most popular areas of study are health sciences, automotive, and the skilled trades, which combined account for more than 80% of total enrollment. Business and information technology and hospitality services also see their fair share of student interest. Keeping student interest up (and therefore enrollment) is germane to Lincoln Educational Services' financial success. If enrollment drops, income drops, and the company suffers. In order to keep its curriculum fresh, the company assesses future job trends and adds degrees and classes accordingly. That strategy apparently failed in 2011 as both enrollment and revenue decreased by double digits.
All of Lincoln Educational Services schools offer diploma and certificate programs, 22 of its schools are approved to offer associate's degree programs, and three schools are approved to offer bachelor's degrees. The majority of its students pay for their educations with financial aid provided by the federal government. Indeed, in 2011 Title IV loans represented 84% of the company's revenue.
These days if you offer vocational classes, it's practically unheard of not to offer at least some of them online. Much like with its physical campuses, Lincoln Educational Services bolsters its online offerings based on job trends and enrollment demographics. In 2010 the company launched its first regionally accredited online degree programs, students can obtain associates and bachelor's degrees online in a range of disciplines.
Royce & Associates, LLC owns about 11% of Lincoln's shares. – less
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