American Public Education, Inc. (NASDAQ:APEI) Q3 2019 Earnings Conference Call - Final Transcript
Nov 12, 2019 • 05:00 pm ET
Ladies and gentlemen, thank you for standing by, and welcome to the American Public Education Third Quarter 2019 Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session.
Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Chris Symanoskie, Vice President, Investor Relations. Thank you. Please go ahead.
Christopher L. Symanoskie
Thank you, operator. Good evening, and welcome to American Public Education's discussion of financial and operating results for the third quarter of 2019.
Materials that accompany today's conference call are available in the Events and Presentations section of our website and are included as an exhibit to our current report on Form 8-K furnished with the SEC earlier today. Please note that statements made in this conference call and in the accompanying presentation materials regarding American Public Education or its subsidiaries that are not historical facts may be forward-looking statements based on current expectations, assumptions, estimates and projections about American Public Education and the industry. These forward-looking statements are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Forward-looking statements can be identified by words such as anticipate, believe, seek, could, estimate, expect, intend, may, should, will and would. These forward-looking statements include without limitation, statements regarding expected growth, expected registration and enrollments, expected revenues, expenses and earnings and plans with respect to recent current and future partnerships, investments and initiatives, including efforts to rebuild the nursing platform, as well as information technology replacements and upgrades.
Actual results could differ materially from those expressed or implied by these forward-looking statements as a result of various factors, including the risk factors described in the Risk Factors section and elsewhere in the company's most recent Annual Report on Form 10-K filed with the SEC and the company's other SEC filings. The company undertakes no obligation to update publicly any forward-looking statements for any reason unless required by law, even if new information becomes available or other events occur in the future.
This evening, it's my pleasure to introduce Angela Selden, our President and CEO, and Rick Sunderland, our Executive Vice President and CFO.
At this time, I'd now like to call turn the call over to Angela Selden. Angie?
Thank you, Chris and good evening everyone. It's a pleasure to speak with all of you. This evening I will comment at a high level on both the recent quarter and my first impressions after 50 days about the strength and opportunities at APEI.
The skill gap and the high cost of higher education are creating a national crisis. Workers can no longer afford to learn the skills that employers need. According to a Wiley Education Services annual survey, 64% of the 600 HR leaders surveyed said there is a skill gap in their company. Pair that with a $1.4 trillion outstanding student loan debt, and