One Tower Lane, Oakbrook Terrace 60181; 630-571-7700
Web site: www.devry.com
Founded: 1931
Employees: 2,400; 700 in Illinois
Year-end: June 30
Foreign sales: 7 percent of $308.3 million
Chief executive: Dennis J. Keller, 56, since 1987
Cash compensation: $991,727, up 3 percent
Options granted: $375,685, up 162 percent
Options, stock appreciation rights exercised: None
Shares owned: 4,776,782 of 34.5 million
Largest shareholder: Dennis J. Keller, 13.8 percent
Stock: 365-day close as of April 15
High: $35.62
Low: $21.62
April 15: $34.69
April 17, 1998, value of $1,000 in company stock:
Purchased 1997: $1,355
Purchased 1993: $6,144
DeVry, which owns and operates DeVry Institutes and Keller Graduate School of Management, is one of the largest publicly owned higher-education companies in North America.
Last year, the company opened a DeVry Institute in Alpharetta, Ga., and three Keller Graduate centers, boosting revenue and earnings to record levels. Proceeds from an April secondary stock offering were used to reduce debt.
Although DeVry is continuing to expand geographically, it also is trying to boost enrollment by offering weekend programs.
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A guide to the Top 100 profiles
The Tribune’s business staff profiles the Chicago area’s Top 100 companies, based on market capitalization as of April 15. Here’s a quick primer on the information you’ll find:
– The CEO’s cash compensation, including bonus and other compensation paid in 1997, along with the change from the prior year.
– The figure for the CEO’s stock holdings includes shares the CEO had the right to acquire within 60 days of the proxy statement’s issuance.
– The company’s largest shareholder.
– Estimated current values of stock options granted the CEO, and the change from the prior year, as well as options and stock appreciation rights exercised during the year. In most cases, the value of options granted is based on an assumption of a 5 percent annual rate of stock price growth, or is determined using the Black-Scholes option pricing model.
– Theoretical total-return investment results for shares purchased for $1,000 a year ago and five years ago. The date on which these calculations are based is April 17. The results assume reinvestment of dividends on a quarterly basis.
The information in the profiles was obtained from the following sources:
– Company reports, including annual reports, public stock offering prospectuses and proxy statements.
– Interviews with company officials.
– Reports by securities analysts.
– News reports.
– Bloomberg News, New York.
– “Hoover’s Handbook,” The Reference Press Inc., Austin, Texas.
