Corinthian Opens New Sequoia-Sierra Branch in Oakland, California
"We are excited to expand Corinthian's market position in aviation maintenance training and be able to offer high-quality programs to students interested in this career on both the east and west coasts," said David G. Moore, chairman and chief executive officer. "We believe the demand for aviation maintenance technicians remains strong and consider this field an important platform for growth and enhancement of Corinthian's technical programs."
Moore continued: "The opening of Sequoia-Oakland demonstrates the ongoing, successful implementation of Corinthian's growth strategy, which includes opening new branch campuses and making strategic acquisitions. This is the tenth new branch campus Corinthian has announced for fiscal 2004, exceeding our expectation of opening nine new campuses this year, and it is the sixth campus opened in fiscal 2004."
Part of Corinthian's Titan Schools, Inc. (TSi) technical division, the new Sequoia-Oakland site was formerly occupied by Sierra Academy of Aeronautics ("Sierra"), which was in the process of closing. Corinthian's TSi division bought most of the assets for the new branch from Sierra and has agreed to complete the instruction of Sierra's existing students. Corinthian believes Sequoia-Oakland will benefit from Corinthian's high school admissions representative team to attract new student enrollments to the campus, which is expected to have a student population of approximately 400 students within two years of its opening.
About Corinthian Colleges
Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America, and serves the large and growing segment of the population seeking to acquire career-oriented education to become more qualified and marketable in today's increasingly demanding workplace. Corinthian's colleges offer master's, bachelor's and associate's degrees and diploma programs in a variety of fields, with a concentration on careers in healthcare, business, criminal justice and technology. Corinthian operates 86 colleges and two continuing education centers in 21 states and 46 colleges and 15 corporate training centers in seven Canadian provinces.
Certain statements in this press release may be deemed to be forward- looking statements under the Private Securities Litigation Reform Act of 1995. The company intends that all such statements be subject to the "safe-harbor" provisions of that Act. Such statements include, but are not limited to, the company's expectations and beliefs regarding aviation maintenance training and technicians, its expectations regarding student population at the Oakland, California location, and its plans to open ten new branch campuses during fiscal 2004. Many important factors may cause the company's actual results to differ materially from those discussed in any such forward-looking statements, including potential construction delays for new branch campuses, possible failure or inability to attain regulatory consents for branch campuses, potential increased competition, possible changes in student perception, changes in demand for curricula offered by the company, the effectiveness of the company's advertising and promotional efforts, and the other risks and uncertainties described in the company's filings with the U.S. Securities and Exchange Commission. The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.