NEW YORK, June 18 /PRNewswire-FirstCall/ -- Students in Edison-operated
schools across the country are continuing to show strong and sometimes
dramatic improvements on standardized tests, Edison Schools (Nasdaq: EDSN)
Chief Education Officer John Chubb reported today, during one of Edison's
periodic public conference calls with investors.
"The picture that emerges from these test scores is very encouraging,"
said Chubb. "Edison students are posting improvement rates that surpass any
other large school system in the nation."
With about one-half of Edison's 2001-2002 test scores so far recorded, the
average annual improvement rate thus far is approximately 6.5 points on 100-
point scales, Chubb said, reflecting both norm-referenced tests and criterion-
referenced tests.
This preliminary rate of improvement is running ahead of the remarkable
improvement rate that Edison students averaged through last year - five
percentiles on norm-referenced tests, and six percentage points on criterion-
referenced tests. That improvement rate was the highest of any of the 50
largest school systems in the United States, according to Chubb.
Chubb said the system-wide gains recorded thus far include dramatic
improvement rates in Washington D.C. (average gains of seven, 10 and 17
percentiles in three schools); Chicago (an average gain of 14 percentiles in a
K-12 charter school); Baltimore (average gains of 10, 16 and 24 percentiles in
three schools); and Dallas (average gains of seven percentage points in seven
schools).
"These are life-changing improvements," Chubb said, noting that students
in these districts face acute poverty and other social challenges.
"Not every Edison school has improved so dramatically," Chubb said. "These
test results also point to a few schools where student improvement is not what
we expect, and we are looking at those schools very closely," Chubb said. "But
the overall picture is quite bright - particularly for the children. These
improved scores mean improved opportunities for children to lead fulfilling
lives."
Also in the investor call, Edison CEO Chris Whittle updated participants
on the company's revised three-year plan. Whittle said the company is
developing a plan to pursue more moderate annual growth rates, which he said
will put the company on a quicker path to profitability. Edison has been
growing at a rate of about 40 percent a year. Whittle said the new plan will
be fully presented at the company's annual investors meeting August 1.
About Edison
Edison Schools manages 133 public schools with a total enrollment of
approximately 74,000 students. Through contracts with local school districts
and public charter school boards, Edison generally assumes educational and
operational responsibility for individual schools in return for funding that
is comparable to that spent on other public schools in the area. Over the
course of three years of intensive research, Edison's team of leading
educators and scholars developed an innovative, research-based curriculum and
school design. Edison opened its first four schools in August 1995, and has
grown rapidly in every subsequent year. For more information, please visit
http://www.edisonschools.com.
Any statements in this press release and any other press release issued by
Edison on or about the date hereof about future expectations, plans and
prospects for Edison, including statements containing the words "believes,"
"anticipates," "plans," "expects," "will," and similar expressions, constitute
forward-looking statements within the meaning of The Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from
those indicated by such forward-looking statements as a result of various
important factors, including the risk factors discussed in our most recent
quarterly report filed with the SEC, and other factors such as, among other
things, the possibility that: (1) Edison, its independent auditors and/or the
SEC may identify additional items that materially and adversely affect
Edison's financial results; (2) the financing discussed separately by Edison
today may not be consummated; and (3) the events relating to the informal SEC
inquiry or its settlement may result in defaults under Edison's material
agreements or give rise to costly and protracted litigation against Edison.
The forward-looking statements included in this press release represent
Edison's estimates as of June 18, 2002. Edison anticipates that subsequent
events and developments will cause its estimates to change. While Edison may
elect to update these forward-looking statements at some point in the future,
Edison specifically disclaims any obligation to do so. These forward-looking
statements should not be relied upon as representing Edison's estimates or
views as of any date subsequent to June 18, 2002.
SOURCE Edison Schools
 back to top
Related links:
http://www.edisonschools.com
CONTACT:
Adam Tucker, VP of Communications of Edison
Schools, +1-212-419-1602
|
