Kaplan is supposed to be the revenue maker for The Washington Post Co., but the educational service provider was not able to bring in a strong profit for the paper.
The company reported an 85 percent drop in earnings. There was strong operating profits for its television broadcasting and cable division. But the paper and education service eally bought down the company’s profit.
All together the company earned a net income of $4.7 million or 64 cents a share for the first quarter, but this same time last year, the company had a net income of $31 million or $4.07 a share.
See the drastic change?
I think that the paper is slowly losing its readers because there is so much free news out in the world today, that there is no need to rely on the Post. Kaplan’s decline could be for a number of reasons. Because Kaplan is a service that preps students for standardized exams like the LSAT, GMAT, GRE, MCAT, SAT and others, the company can be losing profits because of a decline in students actually taking the exams. Take the LSAT as an example, law school does not seem like a likely option again. Before becoming a lawyer was a lucrative job even with the recession but now with the decline in legal jobs available, it is almost pointless to obtain a law degree. This is of course according to many articles I’ve read. So why should students pay money to take prep classes to take an exam to get into a school that will not get them a job?
See the problem?