DeVry plans expansion into India, China

DeVry Inc., the second-largest publicly traded U.S. school owner by market value, plans to boost international sales by expanding into new markets including Brazil, China and India, Chief Executive Officer Daniel Hamburger said.

"Five to 10 years down the road, we could see a third or more of revenue coming from outside the U.S.," Hamburger said in a telephone interview yesterday. The company now derives 15 percent of sales from overseas and does business in more than 30 countries, he said.

DeVry's focus on job placement makes fast-growing economies, particularly Brazil's, desirable markets, Hamburger said. About 90 percent of DeVry's students find employment in their field within six months after graduation, according to the company's Web site.

"One of the constraints on economic growth is an educated workforce," Hamburger said. Brazil has "created an environment where they've said, 'The government can't be the sole supplier of that. We can't keep up with demand.'"

DeVry, based in Oakbrook Terrace, reported sales of $1.09 billion for the year ended June 30, up 17 percent from the previous 12 months. Undergraduate student enrollment for the fall term, the last three months of 2008, increased to 52,146, up 17 percent from a year earlier.

DeVry shares, which rose 10 percent in 2008, fell 11 cents to $51.77 at 11:55 a.m. in New York Stock Exchange composite trading.

"We're one of those industries that does look pretty good in these tough times," Hamburger said. "Students need an education. That's relatively insensitive to the economic cycle."

Apollo Group Inc., which runs the University of Phoenix, is the largest publicly traded U.S. school owner by market value.