Preliminary Analysis Reveals Impressive Achievement Trend
NEW YORK, Dec. 23 /PRNewswire-FirstCall/ -- Edison Schools (Nasdaq: EDSN)
announced today that many of its schools on state "needs improvement" lists
mandated by No Child Left Behind (NCLB) have made substantial student
achievement gains during the 2001-2002 school year. NCLB is the demanding new
federal law, requiring every K-8 public school in America to bring all of its
students to proficient levels in reading and math, within the next twelve
years. Often hired by school districts and charter school boards to manage
low performing schools, Edison has thirty-seven schools on state NCLB "needs
improvement" lists. The Department of Education estimates that, under NCLB,
8,600 schools are in need of improvement.
Edison can report on the academic progress at twenty-two of its NCLB
schools, where state reported data and more than baseline scores are now
available. These twenty-two NCLB designated schools have improved their
academic achievement by an overall average of 6.1 percentage points on
criterion-referenced tests and 4.3 national percentiles on norm-referenced
tests, on an annualized basis. This means that since Edison began managing
them, through their achievement during the 2001-2002 school year, these
schools have gained an average of 6.1 percentage points on
criterion-referenced tests and 4.3 national percentiles on norm-referenced
tests every year, across all grade levels and subjects, on each type of test.
Over the same period of time, the districts and states in which these
traditionally low-performing schools are located gained 2.3 and -0.1
percentage points, respectively, on criterion-referenced tests and 1.8 and 2.1
national percentiles, respectively, on norm- referenced tests.
"The importance of improving achievement in the Edison schools subject to
No Child Left Behind sanctions cannot be overstated," said John E. Chubb,
Edison's Chief Education Officer. "Low performing schools, traditionally left
many students without the skills needed to succeed. At the pace they are now
improving, these Edison schools will have the vast majority of their students
academically proficient within the next several years-well ahead of the
ambitious schedule set by No Child Left Behind." Chubb continued, "Our NCLB
schools are well positioned to respond to the requirements of NCLB.
Accountability, assessment, professional development, and technology have
always been cornerstones of the Edison design."
Edison Schools Inc. will be detailing its progress at its "needs
improvement" No Child Left Behind schools, as well as sharing other measures
of academic achievement, in its Fifth Annual Report on Student Achievement,
scheduled for publication in late January 2003.
About No Child Left Behind
Signed into law in January 2002, NCLB represents a substantial expansion
of the federal government's role in education as well as a substantial
increase in federal funding. With FY 2002 appropriations totaling
approximately $22 billion, the Act establishes programs and requirements in
areas such as accountability, assessment, professional development, and
technology. Further, the Act expressly promotes the option for states,
districts, and schools to partner with private companies to improve
educational outcomes.
NCLB greatly enhances school accountability by requiring every school to
show "adequate yearly progress" (AYP) in raising student achievement and
closing achievement gaps. It requires states to establish assessments in
reading and mathematics and to test all students in grades 3-8 to measure
whether they are making progress against state standards.
About Edison Schools
Edison is the nation's largest private manager of public schools. Edison
educates approximately 110,000 students in 150 full-year schools and 178
summer schools across the country. Through contracts with local school
districts, states, and public charter school boards, Edison assumes
educational and operational responsibility for individual schools in return
for funding that is generally 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 curriculum and
school design. Edison opened its first four schools in August 1995 and has
grown rapidly in every subsequent year.
Any statements in this press release about future expectations, plans and
prospects for Edison, including statements about Edison's future financial
results and other 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 that Edison could lose revenue if it is unable to
enroll enough students or to attract and retain enough principals and
teachers, Edison's management agreements involve financial risk and are
terminable under specified circumstances prior to their expiration, Edison
could be come liable for its charter schools' financial obligations and other
factors discussed in our most recent Annual Report on Form 10-K filed with the
SEC on September 30, 2002. In addition, the forward-looking statements
included in this press release represent Edison's estimates as of December 23,
2002. Edison anticipates that subsequent events and developments will cause
Edison's estimates to change. However, 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 December 23, 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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