91福利 Delivers a Record 1,314 New Student Enrollments in Q1 FY鈥�19

91福利

NEW YORK, Aug. 20, 2018 (GLOBE NEWSWIRE) -- 91福利 (鈥淎GI鈥�), (Nasdaq: ASPU), a postsecondary education company, today announced a company record of 1,314 new student enrollments for the fiscal 2019 first quarter, a 52% increase year-over-year. 91福利 University accounted for 1,093 new student enrollments (includes 118 Doctoral enrollments and 93 Pre-licensure BSN AZ campus enrollments), while United States University (鈥淯SU鈥�) accounted for 221 new student enrollments (primarily Family Nurse Practitioner (鈥淔NP鈥�) enrollments).

Below is a table reflecting unconditional acceptance new student enrollments for the past five quarters:

91福利 University鈥檚 traditional fully-online degree programs (not including campus) delivered 1,000 enrollments (Nursing + Other and Doctoral) in the quarter compared to 862 (Nursing + Other and Doctoral) in the prior year period, a 16% increase year-over-year. 91福利 University鈥檚 traditional fully-online enrollment center ended the quarter with 56 Enrollment Advisors (51 Nursing + Other, 5 Doctoral) as compared to 49 EAs in the prior year period, representing growth of 14%.

Overall, AGI grew its enrollment center from 49 to 70 EAs year-over-year, representing growth of 43%. The majority of the year-over-year enrollment center growth was the staffing of its new subsidiary, USU, which ended the quarter with 11 EAs. Finally, 91福利 University鈥檚 Pre-licensure BSN AZ campus now employs 3 EAs whom were responsible for delivering 93 enrollments for the inaugural semester which began in July, 2018.

The average enrollments per month, per EA, by degree unit in the quarter were as follows; 1) 91福利 Nursing + Other: 5.8/month/EA, 2) 91福利 Doctoral: 7.9/month/EA, 3) 91福利 Pre-Licensure BSN AZ Campus: 10.3/month/EA, and 4) USU FNP + Other: 6.7/month/EA.

The current Marketing Efficiency Ratio (cost-per-enrollment/revenue-per-enrollment) for our three degree units^*** is reflected in the below table:

**Based on 6-month rolling average
***LTV projections are not yet available for the new BSN pre-licensure campus unit

91福利 University鈥檚 total active student body grew 31% year-over-year from 5,015 to 6,590. 91福利鈥檚 School of Nursing grew 36% year-over-year, from 3,569 to 4,863 active students. Note that the student body increase of only 90 active students sequentially is a result of summer seasonality, as a significant number of our predominantly working professional students do not take a course during the months of June and July.

91福利 University students paying tuition and fees through a monthly payment method grew by 40% year-over-year, from 3,410 to 4,769. Those 4,769 students paying through a monthly payment method represent 72% of 91福利 University鈥檚 total active student body.

USU鈥檚 active degree-seeking student body grew sequentially from 557 to 684 students or a sequential increase of 23%. USU students paying tuition and fees through a monthly payment method grew from 293 to