BENCHMARKS REPORT

Industry Measure: Company Level Data
| SIC: | 8200 |
| INDUSTRY: | EDUCATIONAL SERVICES |
| BENCHMARKS FOR THE INDUSTRY |
| NO. OF SEGMENTS REPORTING IN THE INDUSTRY: 23 |
|
1997 SALES FOR THE INDUSTRY: $ 2441 (Total Sales in $Millions) |
|
OPERATING MARGIN: 6.7 (EBIT (divided by) Sales) |
|
CAPITAL INTENSITY: 67.8 (Sum of Total Debt plus Shareholder Equity (divided by) Sales) |
|
SALES GROWTH: 20.4 (Compound 3-Year Growth Rate in Sales for the Median Participant in the Industry) |
| BENCHMARKS FOR THE TOP FOUR COMPETITORS |
| ROE: Net Profits (divided by) Total Shareholder Equity RONCE: EBIT (divided by) Sum of Total Debt plus Shareholders' Equity |
| Competitor/Rank by Sales |
Market Share (% Ind. Sales) |
ROE | RONCE |
| #1: BERLITZ INTERNATIONAL INC |
16.3 | 1.5 | 4.3 |
| #2: DEVRY INC |
12.6 | 23.0 | 30.9 |
| #3: APOLLO GROUP INC -CL A |
11.4 | 26.8 | NC |
| #4: ITT EDUCATIONAL SVCS INC |
10.7 | 21.8 | NC |
| Total of #1-4: | 51.0 | 10.0 | 9.9 |