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DEVRY REPORTS EARNINGS

 DEVRY REPORTS EARNINGS
 EVANSTON, Ill., Jan. 29 /PRNewswire/ -- DeVry Inc. (NASDAQ: DVRY),


a system of career-oriented higher education institutes, today reported that net earnings for the second quarter ended Dec. 31, 1991, totaled $4,146,000, or $.50 per share (fully diluted), compared with earnings of $2,263,000, or $.41 per share, on fewer shares outstanding in the same period last year. Revenues increased by 12.9 percent to $47,051,000 from $41,681,000 in the prior year.
 DeVry President Ronald L. Taylor attributed second quarter results to continued increases in student enrollments for the fall 1991 term, as well as to reductions in interest expense from payments on funded debt outstanding. "These positive results indicate that our current growth strategies are on target to achieve our goals," Taylor said.
 New student enrollment for the 11 DeVry campuses in the United States and Canada rose 3.4 percent, bringing DeVry Institutes' total fall enrollment up by 4.4 percent from last year, while total student enrollment at Keller Graduate School of Management's (KGSM) nine centers increased 3.5 percent compared with the same period the previous year. Moreover, the company has prepaid funded debt by $1 million in each quarter of fiscal '92. DeVry Inc.'s outstanding funded debt was reduced to $82,127,000, currently, down $7,704,000 from the beginning of the fiscal year.
 In order to accommodate growing student interest in KGSM programs, DeVry Chairman Dennis Keller announced that a second KGSM center will be established in Phoenix next month, bringing the total number of KGSM centers to ten. The new center will meet market demand for Keller's M.B.A. program and provide an additional convenient location for students.
 "DeVry's success stems from a commitment to quality education built on customer focus and ongoing program development," Keller said. "And DeVry's future growth depends on our continuing to provide career oriented education and customer services of the highest quality."
 DeVry Institutes and Keller Graduate School of Management are divisions of DeVry Inc., which is headquartered in Evanston.
 DEVRY INC.
 Quarter ended Dec. 31 1991 1990
 Revenues $47,051,000 $41,681,000
 Net income $ 4,146,000 $ 2,263,000
 Shares used in fully diluted
 earnings per share 8,331,000 5,825,000
 Share earnings (primary)
 Net income $0.51 $0.47
 Share earnings (fully diluted)
 990
 Revenues $88,776,000 $81,843,000
 Net income $ 6,119,000 $ 3,009,000
 Shares used in fully diluted
 earnings per share 8,331,000 5,825,000
 Share earnings (primary)
 Net income $0.79 $0.62
 Share earnings (fully diluted)
 Net income $0.75 $0.55
 -0- 1/29/92
 /CONTACT: Diane Salucci, 708-570-5338, for DeVry/
 (DVRY) CO: DeVry Inc. ST: Illinois IN: SU: ERN


GK -- NY018 -- 4603 01/29/92 09:35 EST
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Publication:PR Newswire
Date:Jan 29, 1992
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