UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 27, 2006

 

LAUREATE EDUCATION, INC.

(Exact name of registrant as specified in its charter)

 

Maryland

 

0-22844

 

52-1492296

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation)

 

File Number)

 

Identification No.)

 

1001 Fleet Street, Baltimore, Maryland 21202

(Address of principal executive offices)         (ZIP Code)

 

Registrant’s telephone number, including area code: (410) 843-6100

 

 

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:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


 

Section 8  - Other Events

 

Item 8.01 Other Events

 

Laureate Education, Inc. (the “Company”) has made the decision to change its revenue recognition policies for its international universities. The revenue recognition policy will remain unchanged for its online business. This decision was made to improve transparency and the connection among the Company’s enrollments, revenues, and actual academic calendars. The Company will adopt this change prospectively, effective January 1, 2006.

 

This adoption is preferential and elective by the Company. The Company is presenting the quarterly historical results, including pro forma adjustments, for 2004 and 2005. In addition, the Company is re-presenting quarterly historical results, including pro forma adjustments, for the same periods illustrating the change in the international revenue recognition. Represented in the margins for 2004 and 2005 is non-cash stock compensation expense.  It will be a required disclosure in 2006.  The Company is providing its re-presented historical results for non-cash stock compensation on a go forward basis.

 

The Company recognizes this as a voluntary change in accounting method and will file the required preferability letter in the period of adoption, which will be filed in conjunction with the first quarter Form 10-Q.

 

The results filed in this document will be made available on Laureate Education’s website at www.laureate-inc.com immediately after the filing of this document.

 

Section 9 - Financial Statements and Exhibits

 

Item 9.01   Financial Statements and Exhibits

 

(d) Exhibits

 

99.01               Statements of Continuing Operations – Historical and re-presented for 2004 and 2005 for Laureate Education, Inc.

 

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SIGNATURE

 

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.

 

 

LAUREATE EDUCATION, INC.

 

 

 

 

 

/s/ Rosemarie Mecca

 

Name: Rosemarie Mecca

 

Title: Executive Vice President and

 

Chief Financial Officer

 

 

Date:  February 27, 2006

 

 

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Exhibit Index

 

Exhibit

 

Description

 

 

 

99.01

 

Statements of Continuing Operations – Historical and re-presented for 2004 and 2005 for Laureate Education, Inc.

 

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