<SEC-DOCUMENT>0001157523-17-002983.txt : 20171102
<SEC-HEADER>0001157523-17-002983.hdr.sgml : 20171102
<ACCEPTANCE-DATETIME>20171102160542
ACCESSION NUMBER:		0001157523-17-002983
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171102
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171102
DATE AS OF CHANGE:		20171102

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Adtalem Global Education Inc.
		CENTRAL INDEX KEY:			0000730464
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				363150143
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0811

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13988
		FILM NUMBER:		171172251

	BUSINESS ADDRESS:	
		STREET 1:		3005 HIGHLAND PARKWAY
		CITY:			DOWNERS GROVE
		STATE:			IL
		ZIP:			60515
		BUSINESS PHONE:		630-353-3800

	MAIL ADDRESS:	
		STREET 1:		3005 HIGHLAND PARKWAY
		CITY:			DOWNERS GROVE
		STATE:			IL
		ZIP:			60515

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Adtalem Global Education
		DATE OF NAME CHANGE:	20170522

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Adtalem Global Education Inc.
		DATE OF NAME CHANGE:	20170519

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Adtalem Global Education
		DATE OF NAME CHANGE:	20170519
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51710219.htm
<DESCRIPTION>ADTALEM GLOBAL EDUCATION INC. 8-K
<TEXT>
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      <font style="font-size: 18pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 18pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 18pt"></font><font style="font-size: 18pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>FORM 8-K</b></font><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <br>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman"><b>Date
      of Report</b></font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-family: Times New Roman; font-size: 10pt"><b>(Date
      of earliest event reported)</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman"><b>November
      2, 2017</b></font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-family: Times New Roman"><b>______________</b></font><br><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 24pt"><b>ADTALEM GLOBAL EDUCATION INC.</b></font><br><font style="font-size: 10pt; font-family: Times New Roman"><b>(Exact
      name of registrant as specified in its charter)</b></font><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; margin-left:auto;margin-right:auto; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-13988</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>36-3150143</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(State of incorporation)</b>
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Commission File Number)</b>
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(IRS Employer Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; margin-left:auto;margin-right:auto; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>3005 Highland Parkway</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Downers Grove, Illinois</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: center; padding-left: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>60515</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>(Address
            of principal executive offices)</b></font>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>(Zip
            Code)</b></font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>(630) </b></font><b>515-7700</b><br><font style="font-family: Times New Roman"><b>(Registrant&#8217;s
      telephone number, including area code)</b></font><br><br><font style="font-family: Times New Roman"><b>N/A</b></font><br><font style="font-family: Times New Roman"><b>(Former
      name or former address, if changed since last report)</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p>
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p style="text-align: justify">
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (17 CPR
      &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
      &#167;240.12b-2).
    </p>
    <p>
      Emerging growth company&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.<font style="font-size: 10pt">&#160;&#160;</font><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 100%">


    <p>

    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
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        <div style="text-align: left">

        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 10%">
          <b>Item 2.02</b>
        </td>
        <td valign="top" style="text-align: left; padding-left: 20.0px; width: 90%">
          <b>Results of Operations and Financial Condition</b>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 30.0px; text-align: justify">
      On November 2, 2017, Adtalem Global Education Inc. (&#8220;Adtalem&#8221;) issued a
      press release announcing its fiscal 2018 first quarter operating and
      enrollment results.&#160;&#160;The press release is attached hereto as Exhibit
      99.1 to this Form 8-K.
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      The information furnished pursuant to this Item 2.02, including Exhibit
      99.1, shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the
      Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) or otherwise
      subject to the liabilities under that Section and shall not be deemed to
      be incorporated by reference into any filing of Adtalem under the
      Securities Act of 1933 or the Exchange Act.
    </p>
    <p style="text-align: justify">
      <i>Forward Looking Statements </i>
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      Certain statements contained in this Form&#160;8-K and related press release,
      including those that affect Adtalem&#8217;s expectations or plans, may
      constitute forward-looking statements subject to the Safe Harbor
      Provision of the Private Securities Litigation Reform Act of 1995. These
      forward-looking statements generally can be identified by phrases such
      as Adtalem Global Education Inc. or its management &#8220;anticipates,&#8221;
      &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;expects,&#8221; &#8220;forecasts,&#8221; &#8220;foresees,&#8221; &#8220;intends,&#8221;
      &#8220;plans&#8221; or other words or phrases of similar import.
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      Because these forward-looking statements involve risks and
      uncertainties, there are important factors that could cause Adtalem&#8217;s
      actual results to differ materially from those projected or implied by
      these forward-looking statements.&#160;&#160;Additional information regarding
      factors that could cause results to differ can be found in Adtalem&#8217;s
      Annual Report on Form 10-K for the fiscal year ended June 30, 2017.
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      These forward-looking statements are based on information as of November
      2, 2017, and Adtalem assumes no obligation to publicly update or revise
      its forward-looking statements even if experience or future changes make
      it clear that any projected results expressed or implied therein will
      not be realized.
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 10%">
          <b>Item 9.01</b>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 90%">
          <b>Financial Statements and Exhibits</b>
        </td>
      </tr>
    </table>
    </div>
    <p>
      99.1&#160;&#160;&#160;&#160;Press Release dated November 2, 2017
    </p>
    <p>

    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
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        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font><br>
    </p>
    <p style="text-indent: 30.0px; text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="margin-left: 30.0px; text-align: left">

    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; margin-left:auto;margin-right:auto; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            ADTALEM GLOBAL EDUCATION INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          (Registrant)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 5%">
          Date:
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            November 2, 2017
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 4%">
          By:
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; width: 46%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Kathleen A. Carroll
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 46%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Kathleen A. Carroll
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 46%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Vice President, Controller
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>EXHIBIT INDEX</b><br><br><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; width: 15%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit Number</b>
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 2%">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; width: 83%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Description</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px; width: 15%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51710219ex99_1.htm">99.1</a>
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; width: 83%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51710219ex99_1.htm">Press Release dated November 2, 2017</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
  </body>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51710219ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2017 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
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  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Adtalem
      Global Education Announces First Quarter Fiscal 2018 Results</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Response
      to Hurricanes Demonstrates Resiliency of the Organization</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Professional
      Education and Technology and Business Segments Posted Solid Revenue and
      Operating Income Growth</b></font></i>
    </p>
    <p>
      DOWNERS GROVE, Ill.--(BUSINESS WIRE)--November 2, 2017--Adtalem Global
      Education (NYSE: ATGE), a leading global education provider, today
      reported academic, operational and financial results for its fiscal 2018
      first quarter ended September 30, 2017, including enrollment results at
      Adtalem Education of Brazil, Carrington College, Chamberlain University,
      DeVry University/Keller Graduate School of Management and its medical
      and veterinary schools.
    </p>
    <p>
      &#8220;The strength of our organization, the resiliency of our schools and the
      determination of our faculty, administrators and students was evident in
      our rapid response to the hurricanes during the quarter,&#8221; said Lisa
      Wardell, president and CEO of Adtalem Global Education. &#8220;I&#8217;m proud of
      our team for successfully driving our transitional efforts, including
      safely transporting our medical students and their families and securing
      temporary facilities so they can continue their education.
    </p>
    <p>
      &#8220;We&#8217;re continuing to make progress in executing our plan to return our
      organization to organic revenue growth and deliver returns for our
      owners,&#8221; Ms. Wardell added.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Selected financial data for the three months ended September 30, 2017:</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenue of $421.0 million decreased 6.4 percent versus the prior
        year
      </li>
      <li style="margin-bottom: 10.0px">
        Net income of $12.8 million compared to net income of $25.2 million in
        the prior year; net income excluding special items was $18.9 million,
        compared to $28.8 million in the prior year
      </li>
      <li style="margin-bottom: 10.0px">
        Diluted earnings per share was $0.20, compared to $0.39 in the prior
        year; diluted earnings per share excluding special items was $0.30,
        compared to $0.45 in the prior year
      </li>
      <li style="margin-bottom: 10.0px">
        Operating cash flow for the first quarter was $90.3 million, compared
        to $98.8 million in the prior year
      </li>
      <li style="margin-bottom: 10.0px">
        Cash and cash equivalents were $273.8 million as of September 30,
        2017, compared to $189.0 million as of September 30, 2016. Outstanding
        bank borrowings were $135.0 million as of September 30, 2017, compared
        to $130.0 million as of September 30, 2016
      </li>
      <li style="margin-bottom: 10.0px">
        Repurchased approximately 1,478,000 shares of common stock during the
        first quarter of fiscal 2018
      </li>
    </ul>
    <p>
      The fiscal 2018 first quarter results contained special items for
      restructuring charges of $8.0 million (pre-tax) primarily related to
      reductions in force at DeVry University and Adtalem&#8217;s home office.
    </p>
    <p>
      <u><b>Academic and Operating Highlights</b></u>
    </p>
    <p>
      <b>Medical and Healthcare Segment</b>
    </p>
    <p>
      First quarter segment revenue of $191.3 million decreased 4.2 percent
      compared to the prior year, with growth at Chamberlain University offset
      by decreased revenue at the medical and veterinary schools. Chamberlain
      revenue in the quarter increased 2.2 percent from the prior year to
      $113.9 million, while revenue for the medical and veterinary schools
      decreased 12.4 percent from the prior year to $77.4 million.
    </p>
    <p>
      First quarter operating income for the segment was $26.2 million,
      representing a decrease of 40.2 percent from the prior year.
    </p>
    <p>
      Both American University of the Caribbean School of Medicine and Ross
      University School of Medicine were adversely impacted by damages
      sustained as a result of Hurricane Irma that made landfall in St.
      Maarten on Sept. 6, 2017, and Hurricane Maria that struck the island of
      Dominica on Sept. 19, 2017. Adtalem evacuated students, faculty and
      staff from both islands. The interruption to the schools&#8217; September
      basic science semester reduced first quarter revenue by approximately
      $7.0 million, most of which is expected to be realized in the fiscal
      year. For the first quarter, operating income was approximately $21
      million lower from the reduced revenue and additional expenses incurred
      due to the impacts of the hurricanes. Management expects lost revenue
      and incremental costs for fiscal 2018 to be reimbursable under its
      insurance policies, net of deductibles.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Chamberlain University president Susan Groenwald, PhD, RN, ANEF, FAAN
      released a book, &#8220;Designing &amp; Creating a Culture of Care for Students
      and Faculty: The Chamberlain University College of Nursing Model,&#8221; which
      serves as a guide for any organization seeking to make cultural and
      structural changes to improve student or employee satisfaction,
      engagement and achievement. The book describes <i>Chamberlain Care</i>,
      the unique organizational culture and work climate developed at the
      university.
    </p>
    <p>
      <b>Professional Education</b>
    </p>
    <p>
      First quarter segment revenue increased 15.3 percent to $40.0 million
      compared to the prior year, primarily driven by growth in the
      Association of Certified Anti Money Laundering Specialists (ACAMS)
      business unit. Segment operating income for the first quarter was $10.5
      million, up from $6.1 million from the prior year driven by revenue
      growth at ACAMS.
    </p>
    <p>
      Becker Professional Education recently confirmed that 52 of the 58
      Elijah Watt Sells Award recipients in 2016 prepared with Becker&#8217;s CPA
      Exam Review course. From 2005 to 2016, over 90 percent of all Watt Sells
      Award winners have prepared with Becker, totaling 358 award winners
      throughout the last decade. In total, Becker has helped more than one
      million candidates pass the CPA Exam, attesting to the quality and
      effectiveness of the organization&#8217;s program and teaching methods.
    </p>
    <p>
      Global demand for education and training in financial crimes prevention
      remains strong and ACAMS remains well positioned to grow. ACAMS
      continues to provide its various member groups with a broad set of
      tools, training modules and technological resources so they can build
      their online communities, expand seminar participation and consistently
      update their curriculum.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Technology and Business</b>
    </p>
    <p>
      First quarter segment revenue increased 7.2 percent to $62.4 million
      compared to the prior year. On a constant currency basis, revenue in the
      segment grew 4.3 percent. Segment operating income in the first quarter
      was $1.9 million compared to a loss of $2.0 million in the prior year as
      a result of revenue growth and cost efficiencies.
    </p>
    <p>
      <b>US Traditional Postsecondary</b>
    </p>
    <p>
      First quarter segment revenue decreased 19.0 percent to $127.9 million.
      Revenue at DeVry University decreased 20.8 percent to $95.8 million
      compared to the prior year and revenue at Carrington declined 13.1
      percent to $32.1 million compared to the prior year.
    </p>
    <p>
      The segment reported an operating loss of $20.2 million compared to an
      operating loss of $10.0 million in the prior year. Excluding special
      items, the segment reported an operating loss of $13.3 million for the
      quarter, compared to an operating loss of $6.9 million in the prior year.
    </p>
    <p>
      DeVry University achieved $22.3 million of cost savings in the first
      quarter compared to prior year, excluding special items. Additional cost
      reductions are expected throughout fiscal 2018 to maintain positive
      operating income.
    </p>
    <p>
      <b>Adtalem Outlook</b>
    </p>
    <p>
      Fiscal 2018 second quarter revenue is expected to decrease 4 to 5
      percent versus the prior year. Revenue growth within the Medical and
      Healthcare, Professional Education and Technology and Business segments
      is expected to offset declining revenue within the US Traditional
      Postsecondary segment. Second quarter operating costs before special
      items are expected to decline 1 to 2 percent versus the prior year as a
      result of continued cost reductions at DeVry University and Carrington
      College. Second quarter expenses will be impacted by the timing of the
      receipt of insurance proceeds for the reimbursement of hurricane-related
      expenses.
    </p>
    <p>
      Fiscal 2018 full year revenue is expected to decline 2 to 3 percent
      compared to the prior year and earnings before special items are
      expected to grow in the low single digit range as compared to the prior
      year. Full year capital spending is expected to be in the $60 to $65
      million range. The effective income tax rate for the fiscal year is
      expected to be in the range of 19 to 20 percent, before special items.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Conference Call and Webcast Information</b>
    </p>
    <p>
      Adtalem will hold a conference call to discuss its fiscal 2018
      first-quarter earnings on Thursday, Nov. 2, at 4 p.m. CDT (5 p.m. EDT).
      The conference call will be led by Lisa Wardell, president and chief
      executive officer; and Patrick Unzicker, chief financial officer.
    </p>
    <p>
      For those wishing to participate by telephone, dial 877-407-6184
      (domestic) or 201-389-0877 (international). Ask for the &#8220;Adtalem Call&#8221;
      or use conference ID: 13671827. Adtalem will also broadcast the
      conference call on Adtalem's website at: <u>https://hd.choruscall.com/InComm/?callme=true&amp;passcode=13666580&amp;h=true&amp;info=companyemail&amp;r=true&amp;B=6</u>.
    </p>
    <p>
      Please access the website at least 15 minutes prior to the start of the
      call to register, download and install any necessary audio software.
    </p>
    <p>
      Adtalem will archive a telephone replay of the call until Dec. 2, 2017.
      To access the replay, dial 877-660-6853 (domestic) or 201-612-7415
      (international), passcode 10099693. To access the webcast replay, please
      visit Adtalem's website, or <u>http://www.investorcalendar.com/event/20912</u>.
    </p>
    <p>
      <b>About Adtalem Global Education</b>
    </p>
    <p>
      The purpose of Adtalem Global Education is to empower students to
      achieve their goals, find success, and make inspiring contributions to
      our global community. Adtalem Global Education Inc. (NYSE: ATGE; member
      S&amp;P MidCap 400 Index) is a leading global education provider and the
      parent organization of Adtalem Educacional do Brasil, American
      University of the Caribbean School of Medicine, Association of Certified
      Anti-Money Laundering Specialists, Becker Professional Education,
      Carrington College, Chamberlain University, DeVry University and its
      Keller Graduate School of Management, Ross University School of Medicine
      and Ross University School of Veterinary Medicine. For more information,
      please visit&#160;adtalem.com.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u><b>Enrollment Results</b></u><b>:</b>
    </p>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          <b>FY2018</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          <b>FY2017</b>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          <b>% Change</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Adtalem Global Education Student Enrollments<sup>(1)</sup></b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          New students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          26,165
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          28,629
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -8.6%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Total students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          145,473
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          151,503
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -4.0%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Adtalem Education of Brazil<sup>(2)</sup></b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <i>September Semester</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          New students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          14,507
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          15,892
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -8.7%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Total students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          78,340
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          76,862
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          +1.9%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Chamberlain University</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <i>September Session</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          New students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          4,962
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,003
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -0.8%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Total students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          30,062
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          28,781
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          +4.5%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 0.0px">
          <b>Medical and Veterinary</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <i>September Semester</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          New students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          812
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          806
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          +0.7%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Total students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,744
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          6,168
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -6.9%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Carrington College</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <i>3 months ending September 30, 2017</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          New students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,155
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,338
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -7.8%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Total students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,258
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          6,638
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -20.8%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>DeVry University</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Undergraduate <i>&#8211; September Session</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          New students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,825
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3,432
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -17.7%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Total students
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          19,287
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          24,540
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -21.4%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Graduate <i>&#8211; September Session</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="middle" style="text-align: left; padding-left: 35.0px">
          Coursetakers<sup> (3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          7,915
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          10,146
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -22.0%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p style="margin-left: 30.0px">
      1) Includes the most recently reported enrollments at Adtalem&#8217;s
      postsecondary institutions
    </p>
    <p style="margin-left: 30.0px">
      2) Excludes Dam&#225;sio test prep students.
    </p>
    <p style="margin-left: 30.0px">
      3) The term &#8220;coursetaker&#8221; refers to the number of courses taken by a
      student. Thus one student taking two courses equals two coursetakers
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Supplemental Reconciliations</b>
    </p>
    <p>
      The following tables present revenue and total expenses by reporting
      segment detailing the changes from the year-ago comparative periods
      including disclosure of the effect of Hurricanes Irma and Maria and the
      effect of restructuring charges and changes in the value of the
      Brazilian Real compared to the U.S. dollar.
    </p>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="27">
          <b>SUPPLEMENTAL RECONCILIATIONS</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="27">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="27">
          <b>PRELIMINARY</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="22">
          <b>Three Months Ended September 30, 2017</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="22">
          <b>(in thousands)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Technology</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>U.S.</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Home Office</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Medical and</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Professional</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>and</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Traditional</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>and</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Revenue:</b></u>
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Healthcare</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Education</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Business</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Postsecondary</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Other</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Consolidated</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Fiscal Year 2017 as Reported
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          199,769
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          34,730
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          58,240
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          157,875
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (722
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          449,892
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Organic Growth (Decline)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (1,140
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,312
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,510
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (29,994
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          100
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (23,212
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Hurricane Impact
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (7,344
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (7,344
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Effect of Currency Change
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,689
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,689
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Fiscal Year 2018 as Reported
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          191,285
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          40,042
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          62,439
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          127,881
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (622
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          421,025
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px" colspan="3">
          <b>Fiscal Year 2018 % Change:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Organic Growth (Decline)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (0.6
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          15.3
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          4.3
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (19.0
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (5.2
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Hurricane Impact
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (3.7
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (1.6
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Effect of Currency Change
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          2.9
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          0.4
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Fiscal Year 2018 % Change
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            as Reported
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (4.2
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          15.3
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          7.2
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (19.0
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (6.4
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="22">
          <b>Three Months Ended September 30, 2017</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="22">
          <b>(in thousands)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td colspan="2">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Technology</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>U.S.</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Home Office</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Medical and</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Professional</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>and</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Traditional</b>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>and</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Total Expenses:</b></u>
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Healthcare</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Education</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Business</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Postsecondary</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Other</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>Consolidated</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Fiscal Year 2017 as Reported
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          155,906
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          28,673
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          60,216
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          167,881
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          4,109
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          416,785
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Cost (Reduction) Investment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (4,582
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          862
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (1,102
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (23,587
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          186
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (28,223
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Hurricane Impact
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13,617
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13,617
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Restructuring Expense Change
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3,790
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (956
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,946
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Effect of Currency Change
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,464
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,464
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Fiscal Year 2018 as Reported
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          165,053
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          29,535
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          60,578
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          148,084
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          3,339
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          406,589
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Fiscal Year 2018 % Change:</b></u>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Cost (Reduction) Investment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (2.9
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3.0
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (1.8
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (14.0
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (6.8
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Hurricane Impact
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          8.7
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3.3
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Restructuring Expense Change
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.1
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2.3
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.7
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Effect of Currency Change
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          2.4
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          0.4
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Fiscal Year 2018 % Change
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px" colspan="3">
          as Reported
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          5.9
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          3.0
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          0.6
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (11.8
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (2.4
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="16">
          <b>ADTALEM GLOBAL EDUCATION INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="16">
          <b>CONSOLIDATED BALANCE SHEETS</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="16">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="16">
          <b>PRELIMINARY</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>September 30,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>June 30,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>ASSETS:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="10">
          <b>(in thousands, except share and par value amounts)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          <b>Current Assets:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Cash and Cash Equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          273,751
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          241,979
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          189,017
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Marketable Securities and Investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          4,139
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          4,013
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3,738
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Restricted Cash
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          7,442
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          9,117
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,795
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Accounts Receivable, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          189,783
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          173,362
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          184,294
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          Prepaid Expenses and Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          66,511
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          42,736
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          40,814
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Total Current Assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          541,626
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          471,207
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          423,658
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          <b>Land, Building and Equipment:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Land
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          49,088
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          48,947
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          54,967
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Building
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          470,347
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          474,942
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          484,104
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          524,054
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          514,118
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          523,492
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          Construction in Progress
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          19,091
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          22,461
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          24,201
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,062,580
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,060,468
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,086,764
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Accumulated Depreciation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (597,732
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (582,922
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (572,320
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          Land, Building and Equipment Held for Sale, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          11,280
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          11,280
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Land, Building and Equipment, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          476,128
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          488,826
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          514,444
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          <b>Other Assets:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Deferred Income Taxes, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          31,222
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          33,772
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          32,037
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Intangible Assets, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          417,761
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          413,803
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          426,089
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Goodwill
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          860,865
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          851,282
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          854,188
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Perkins Program Fund, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13,450
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13,450
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13,450
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          Other Assets, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          42,544
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          41,695
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          60,490
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Total Other Assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,365,842
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,354,002
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,386,254
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" colspan="4">
          <b>TOTAL ASSETS</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          2,383,596
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          2,314,035
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          2,324,356
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>LIABILITIES:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          <b>Current Liabilities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Accounts Payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          71,371
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          64,285
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          57,423
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Accrued Salaries, Wages and Benefits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          67,950
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          96,241
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          65,841
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Accrued Expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          89,686
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          99,243
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          96,863
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          Deferred Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          221,511
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          117,558
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          224,713
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Total Current Liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          450,518
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          377,327
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          444,840
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          <b>Other Liabilities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Revolving Loan
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          135,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          125,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          130,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Deferred Income Taxes, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          34,755
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          34,712
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          30,769
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          Deferred Rent and Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          98,718
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          101,672
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          112,026
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Total Other Liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          268,473
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          261,384
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          272,795
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          <b>TOTAL LIABILITIES</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          718,991
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          638,711
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          717,635
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          <b>NONCONTROLLING INTEREST</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          6,566
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          6,285
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          5,043
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>SHAREHOLDERS' EQUITY:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Common Stock, $0.01 Par Value, 200,000,000 Shares Authorized;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          61,194,000, 62,371,000 and 62,728,000 Shares Outstanding at
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          September 30, 2017, June 30, 2017 and September 30, 2016,
          respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          785
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          781
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          772
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Additional Paid-in Capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          422,358
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          415,912
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          383,815
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Retained Earnings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,894,372
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,881,397
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,796,099
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Accumulated Other Comprehensive Loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (35,720
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (59,119
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (49,223
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Treasury Stock, at Cost, 17,271,000, 15,691,000 and 14,454,000
          Shares at
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          September 30, 2017, June 30, 2017 and September 30, 2016,
          respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (623,756
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (569,932
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (529,785
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          <b>TOTAL SHAREHOLDERS' EQUITY</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,658,039
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,669,039
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,601,678
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>TOTAL LIABILITIES, NONCONTROLLING INTEREST AND</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" colspan="3">
          <b>SHAREHOLDERS' EQUITY</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          2,383,596
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          2,314,035
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          2,324,356
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="12">
          <b>ADTALEM GLOBAL EDUCATION INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="12">
          <b>CONSOLIDATED STATEMENTS OF INCOME</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="12">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="12">
          <b>PRELIMINARY</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="6">
          <b>Three Months Ended</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>September 30,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="6">
          <b>(in thousands, except per</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="6">
          <b>share amounts)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>REVENUE:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Tuition
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          366,691
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          399,027
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Other Educational
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          54,334
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          50,865
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          Total Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          421,025
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          449,892
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>OPERATING COST AND EXPENSE:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Cost of Educational Services
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          248,116
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          250,673
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Student Services and Administrative Expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          150,480
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          161,065
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Restructuring Expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          7,993
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          5,047
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          Total Operating Cost and Expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          406,589
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          416,785
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          <b>Operating Income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          14,436
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          33,107
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>INTEREST:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Interest Income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,118
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,058
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Interest Expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (1,916
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (2,115
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="2">
          Net Interest Income (Expense)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          202
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (1,057
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>Income Before Income Taxes</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          14,638
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          32,050
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>Income Tax Provision</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (1,678
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (6,901
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          <b>Equity Method Investment Loss</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (44
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>NET INCOME</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          12,916
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          25,149
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Net (Income) Loss Attributable to Noncontrolling Interest
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (131
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          3
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" colspan="4">
          <b>NET INCOME ATTRIBUTABLE TO ADTALEM GLOBAL EDUCATION</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          12,785
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          25,152
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>EARNINGS PER COMMON SHARE ATTRIBUTABLE TO ADTALEM</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          <b>GLOBAL EDUCATION SHAREHOLDERS:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" colspan="2">
          <b>Basic</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          0.20
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          0.40
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" colspan="2">
          <b>Diluted</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          0.20
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          0.39
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="12">
          <b>ADTALEM GLOBAL EDUCATION INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="12">
          <b>CONSOLIDATED STATEMENTS OF CASH FLOWS</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="12">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="12">
          <b>PRELIMINARY</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="6">
          <b>Three Months Ended</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>September 30,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="6">
          <b>(in thousands)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>CASH FLOW FROM OPERATING ACTIVITIES:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Net Income
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          12,916
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          25,149
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Adjustments to Reconcile Net Income to Net Cash Provided by
          Operating Activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Stock-Based Compensation Expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          4,985
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,750
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Depreciation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          16,972
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          17,476
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,673
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3,439
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Provision for Refunds and Uncollectible Accounts
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          21,300
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          22,481
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Deferred Income Taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          2,406
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          3,328
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Loss on Disposals, Accelerated Depreciation and Adjustments to Land,
          Building and Equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          11,307
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          418
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Changes in Assets and Liabilities, Net of Effects from Acquisition
          of Components:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Accounts Receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (33,895
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (45,280
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Prepaid Expenses and Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (21,661
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (6,017
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Accounts Payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          9,107
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (3,717
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Accrued Salaries, Wages, Benefits and Expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (39,451
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (33,617
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Deferred Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          103,678
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          109,348
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          <b>NET CASH PROVIDED BY OPERATING ACTIVITIES</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          90,337
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          98,758
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>CASH FLOWS FROM INVESTING ACTIVITIES:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Capital Expenditures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (13,895
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (11,318
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Payment for Purchase of Businesses, Net of Cash Acquired
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (331,070
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Marketable Securities Purchased
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (13
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (10
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          <b>NET CASH USED IN INVESTING ACTIVITIES</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (13,908
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (342,398
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>CASH FLOWS FROM FINANCING ACTIVITIES:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Proceeds from Exercise of Stock Options
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,884
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          6,350
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Employee Taxes Paid on Withholding Shares
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (3,486
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (2,378
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Proceeds from Stock Issued Under Colleague Stock Purchase Plan
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          195
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          211
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Repurchase of Common Stock for Treasury
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (50,375
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (8,255
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Payments of Seller Financed Obligations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (6,315
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (3,518
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Borrowings Under Revolving Credit Facility
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          76,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          240,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Repayments Under Revolving Credit Facility
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (66,000
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (110,000
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          <b>NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (48,097
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          122,410
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          Effects of Exchange Rate Differences
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,765
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          695
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          <b>NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED
          CASH</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          30,097
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (120,535
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          Cash, Cash Equivalents and Restricted Cash at Beginning of Period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          251,096
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          315,347
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" colspan="4">
          <b>Cash, Cash Equivalents and Restricted Cash at End of Period</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          281,193
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-left: 0.0px">
          194,812
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="17">
          <b>ADTALEM GLOBAL EDUCATION INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="17">
          <b>SEGMENT INFORMATION</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="17">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="17">
          <b>PRELIMINARY</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="10">
          <b>Three Months Ended</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>September 30,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Increase</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2016</b>
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>(Decrease)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="10">
          <b>(in thousands)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="5">
          <b>REVENUE:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          Medical and Healthcare
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          191,285
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          199,769
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (4.2
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          Professional Education
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          40,042
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          34,730
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          15.3
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          Technology and Business
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          62,439
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          58,240
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          7.2
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          U.S. Traditional Postsecondary
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          127,881
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          157,875
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (19.0
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          Home Office and Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (622
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (722
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          13.9
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="3">
          Total Consolidated Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          421,025
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          449,892
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (6.4
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="5">
          <b>OPERATING INCOME (LOSS):</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          Medical and Healthcare
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          26,232
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          43,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (40.2
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          Professional Education
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          10,507
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          6,057
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          73.5
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          Technology and Business
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          1,861
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (1,976
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="4">
          U.S. Traditional Postsecondary
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (20,203
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (10,006
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (101.9
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          Home Office and Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (3,961
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (4,831
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          18.0
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          Total Consolidated Operating Income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          14,436
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          33,107
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (56.4
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="4">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          NON-GAAP INFORMATION
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          During the first quarter of fiscal year 2018, Adtalem recorded
          special items related to the following: (i) Restructuring charges
          primarily related to workforce reductions at DeVry University which
          is part of the U.S. Traditional Postsecondary segment and Adtalem's
          home office (not related to any segment) in order to align its cost
          structure with enrollments. During the first quarter of fiscal year
          2017, Adtalem recorded special items related to the following: (i)
          Restructuring charges primarily related to real estate
          consolidations at DeVry University and Carrington College
          (&quot;Carrington&quot;), which are part of the U.S. Traditional Postsecondary
          segment, and Adtalem's home office in order to align its cost
          structure with enrollments. The following tables illustrate the
          effects of the special items on Adtalem&#8217;s operating income and net
          income. Management believes that the non-GAAP disclosure of
          operating income and net income excluding these special items
          provides investors with useful supplemental information regarding
          the underlying business trends and performance of Adtalem&#8217;s ongoing
          operations and is useful for period-over-period comparisons of such
          operations given the special nature of the restructuring charges.
          Adtalem uses these supplemental financial measures internally in its
          management and budgeting process. However, these non-GAAP financial
          measures should be viewed in addition to, and not as a substitute
          for, Adtalem&#8217;s reported results prepared in accordance with U.S.
          Generally Accepted Accounting Principles (&quot;GAAP&quot;). The following
          tables reconcile these non-GAAP measures to the most directly
          comparable GAAP information (in thousands):
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="10">
          <b>Three Months Ended</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>September 30,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="2">
          <b>Increase</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2016</b>
        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="2">
          <b>(Decrease)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="5">
          Medical and Healthcare Operating Income
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          26,232
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          43,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (40.2
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          Restructuring Expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          112
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          NM
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="5">
          Medical and Healthcare Operating Income Excluding Special Items
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          26,344
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          43,863
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (39.9
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="5">
          U.S. Traditional Postsecondary Operating Loss
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (20,203
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (10,006
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (101.9
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          Restructuring Expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          6,856
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          3,066
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          123.6
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="5">
          U.S. Traditional Postsecondary Operating Loss Excluding Special Items
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (13,347
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (6,940
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (92.3
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="5">
          Home Office and Other Operating Loss
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (3,961
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (4,831
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          18.0
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="4">
          Restructuring Expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,025
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          1,981
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (48.3
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" colspan="5">
          Home Office and Other Operating Loss Excluding Special Items
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (2,936
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-left: 0.0px">
          (2,850
        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (3.0
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td colspan="5">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>ADTALEM GLOBAL EDUCATON INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>NON-GAAP EARNINGS DISCLOSURE</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="11">
          <b>PRELIMINARY</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px" colspan="6">
          <b>Three Months Ended</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>September 30,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2017</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-color: black; white-space: nowrap; padding-right: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px">
          <b>2016</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="6">
          <b>(in thousands, except per</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px" colspan="6">
          <b>share amounts)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Net Income
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          12,785
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          25,152
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Earnings per Share (diluted)
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.20
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.39
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Restructuring Expense
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          7,993
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          5,047
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Effect on Earnings per Share (diluted)
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.13
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.08
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Income Tax Impact on Non-GAAP Adjustments
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (1,864
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (1,434
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Effect on Earnings per Share (diluted)
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (0.03
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          (0.02
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: left; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Net Income Excluding Special Items, net of tax
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          18,914
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          28,765
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="2">
          Earnings per Share Excluding Special Items (diluted)
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.30
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          0.45
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px" colspan="3">
          Shares used in EPS calculation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          63,432
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; text-align: right; padding-left: 0.0px">
          63,896
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Adtalem Global Education<br>Investor Contact:<br>Joan Walter<br><u>Joan.Walter@Adtalem.com</u><br>630-353-3800<br>or<br>Media
      Contact:<br>Ernie Gibble<br><u>Ernie.Gibble@Adtalem.com</u><br>630-353-9920
    </p>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
