Washington Post 2006 Annual Report Download - page 6

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The Washington Post Company
4The Washington Post Company
4
Kaplan University (our online higher education offering)
continued to grow very quickly. Revenues increased 49%;
KU now educates 27,600 students and offers an impressive,
ever-increasing variety of courses, including several master’s
degrees. Early in the year, a securities firm, unbeknownst to
us, surveyed graduates of for-profit, not-for-profit and online
schools to determine their satisfaction with their education.
Kaplan University ranked number one for quality and value
for online schools.
Kaplan Test Prep and Admissions had another out-
standing year. Revenues grew 22% (without contribu-
tions from 2005–2006 acquisitions, the growth rate was
13%). Three acquisitions will help boost KTPA’s future
prospects. We acquired SpellRead, a company offering
reading intervention programs for elementary school stu-
dents; Aspect, a UK-based company that considerably
increased our presence in worldwide English-language
training; and PMBR, the king of test prep for the multi-
state portion of the bar exam.
In the scale of Kaplan, these were not large acquisitions,
but each will boost a significant portion of KTPA’s business.
We expect you will hear more from all three (we are con-
solidating all of Kaplan’s English-language business under
Aspect’s respected CEO, David Jones).
2006 made it clearer and clearer that when we
bought London-based FTC in 2003, we acquired a
Jeff Conlon, president of Kaplan
Higher Education Campuses,
and Andy Rosen, president of
Kaplan, Inc., and CEO of Kaplan
Higher Education
Education is a business in which
quality pays and in which
excellent management is
amust.