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Saturday, May 22, 2004
Sylvan Learning Systems Renamed - Bill Brubaker, Washington Post
Sylvan Learning Systems Inc., a Baltimore-based firm best known for operating after-school tutoring centers across the United States and Canada, yesterday changed its name to Laureate Education onInc. The name better reflects the company's new focus on running career-oriented universities outside the United States, said chairman and chief executive Douglas L. Becker. Sylvan sold the tutoring piece of its business last year, and turned its attention to operating university campuses in nine countries, including Mexico, Chile, Spain and Switzerland.... Most of Sylvan's recent profit has came from its online and overseas university operations, Becker said. The company reported a profit of $46.1 million in 2003 -- compared with a $95.9 million loss the previous year -- on revenue of $472.8 million.
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