Early Edison Results Indicate Strong Academic Performance for 2001-02
NEW YORK, July 31 /PRNewswire-FirstCall/ -- Edison Schools (Nasdaq: EDSN),
the nation's largest private manager of public schools, announced today that
early returns from the 2001-2002 school year on both its system-wide academic
data as well as results from an independently administered customer
satisfaction survey show positive trends that are extremely encouraging.
Each spring, Harris Interactive, one of the nation's leading independent
pollsters, administers an annual customer satisfaction survey to Edison
schools students, teachers and parents. In the independent system-wide
analyses, 94 percent of Edison schools participated. The following are some
of the highlights:
Parent satisfaction remains extremely high at Edison, as measured by
completed surveys from more than 26,000 Edison households from across the
country. 85 percent of parents rate their Edison School an A or B (of which
51 percent of parents rate their child's Edison school an A and 34 percent
rate their child's Edison school a B). This is seventeen points higher than
parents at public schools in general, where only 68 percent of parents who
rate their child's public school an A or B, as measured by the most recent
Gallup Poll published by Phi Delta Kappa in September 2001.
Parent satisfaction is particularly high in some of the largest markets in
which Edison serves. Following are the percentage of parents in particular
geographic areas who rated their child's Edison school and A or B: 88 percent
in Baltimore, 85 percent in Chicago, 88 percent in Dallas, 91 percent in
Duluth, 87 percent in Kansas City, 88 percent in Las Vegas, 84 percent in
Peoria, 83 percent in Wichita, 76 percent in the state of Michigan, and 91
percent in the state of New York, and 90 percent in the state of California
Of the more than 20,000 elementary students who participated, 81 percent
rated their Edison schools extremely high, giving their schools marks of A or
B. Overall (including more than 14,000 secondary students surveyed), the
overwhelming majority of Edison students, or 73 percent, awarded their school
an A or B.
Teachers, who generally rate their schools lower than do parents or
students, awarded their school an A or B by a large majority of 68 percent.
This represents a 4-point increase over their 2000-2001 grading of Edison
schools. More than 4,500 teachers participated in the anonymous survey.
This is the seventh year that Edison has contracted with Harris
Interactive (formerly Gordon S. Black) to conduct an independent survey of
parents, student, and teacher satisfaction rates. Harris Interactive survey
has a margin of error of less than one percent.
"We are very pleased with the strong levels of satisfaction expressed by
parents who send their children to Edison schools across the country," said
John Chubb, Edison's Chief Education Officer. "Given the rigors and demands of
the Edison school design, including a longer academic day and year, we are
especially pleased that both our teachers and students have overwhelmingly
awarded their schools with positive marks."
In terms of academic data, Edison's success rate is already ahead of last
year when 84 percent of our schools posted positive gains since beginning to
work with Edison. Of those schools that have reported complete scores for
2001-2002, 91 percent have already posted positive gains since their
inception.
Annual gain rates, though based on a relatively small number of cases and
therefore subject to change, are tracking close to Edison's past performance.
The Company's historic annual gain rate on Norm Referenced Tests (NRTs) has
been five points per year; preliminary data for this year show that the gain
is six points. On Criterion Referenced Tests (CRTs), Edison has considerably
less data and is unable to make any summary judgments at this time. These
data will be reported on when all of the information is available.
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 July 31, 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 July 31, 2002.
SOURCE Edison Schools
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Related links:
http://www.edisonschools.com
CONTACT:
John Chubb, Chief Education Officer,
+1-212-419-1641, or Adam Tucker, VP Communications,
+1-212-419-1602, both of Edison Schools
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