The presentation will be webcast live. To access the webcast, go to the investor relations section of Corinthian's website, http://www.cci.edu. The presentation will be archived and available following the event.

About Corinthian Colleges, Inc.

Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America. The Company's mission is to prepare students for careers in demand or for advancement in their chosen field. Corinthian offers diploma programs and associate, bachelor, and master's degrees in a variety of high-demand occupational areas, including healthcare, business, criminal justice, transportation technology and maintenance, construction trades and information technology. More information can be found on Corinthian's website at www.cci.edu.

    Contacts:

    Investors:  Anna Marie Dunlap
                SVP Investor Relations/Corporate Communications
                Corinthian Colleges, Inc.
                714-424-2678

    Media:      Robert Jaffe
                PondelWilkinson Inc.
                310-279-5969

SOURCE Corinthian Colleges, Inc.

Investors, Anna Marie Dunlap, SVP Investor Relations/Corporate Communications of Corinthian Colleges, Inc., +1-714-424-2678; or Media, Robert Jaffe of PondelWilkinson Inc., +1-310-279-5969, for Corinthian Colleges, Inc.

SANTA ANA, Calif., Oct. 29 /PRNewswire-FirstCall/ -- Corinthian Colleges, Inc. (Nasdaq: COCO) reported financial results today for the first quarter ended September 30, 2009. The results exceeded our previous guidance for start growth, revenue and diluted earnings per share.

"Our strong first quarter results primarily reflect the continued success of our initiatives to enhance the student experience and improve operational performance," said Peter Waller, Corinthian's chief executive officer. "We have increased our student population for more than three consecutive fiscal years, resulting in improved leverage of facility and other fixed costs. Increased advertising effectiveness and lower media costs have improved efficiencies in marketing and admissions. Given all of these factors, our operating margin and cash flow increased substantially in the first quarter compared with the prior year."

"During the balance of fiscal 2010 we expect our student population growth to continue to be derived from several sources, including implementation of new programs at existing campuses, online enrollment, facility expansions, new branch campuses, and the high school recruiting program," Waller said.

"In addition, the recession helps drive enrollment growth, but it also creates challenges in terms of career placement and student loan repayment," Waller added. "In the first quarter we continued to make substantial investments in both of these areas, to help graduates achieve their career goals and meet their financial obligations in a difficult economy."

On October 20, 2009, the company announced a definitive agreement to purchase Heald Capital, LLC, the parent company of Heald College, for $395.0 million in cash, subject to certain working capital items. The transaction is expected to close in the third quarter ending March 31, 2010. "When complete, we expect Heald College to generate additional growth beginning in the second half of fiscal 2010," Waller continued. "The acquisition is consistent with our strategy of increasing our presence in markets with high growth potential and expanding our ability to offer regionally accredited programs. Heald is a regionally accredited institution that has been delivering quality career-focused academic programs since 1863. We believe the Heald acquisition will give Corinthian increased market presence, particularly in Northern California; a growth platform for regionally accredited online and campus-based programs; and a third strong brand."

Comparing the first quarter of fiscal 2010 with the same quarter of the prior year:

(Note: Data is for continuing operations only.)

    --  Net revenue was $388.5 million versus $289.6 million, up 34.2%.
    --  Total student population at September 30, 2009 was 93,493 versus 74,265
        at September 30, 2008, an increase of 25.9%.
    --  Total student starts were 36,737 versus 30,075, an increase of 22.2%.
    --  Operating income was $53.9 million, compared with $10.1 million.
    --  Income from continuing operations was $32.9 million, compared with $5.7
        million.

    --  Diluted earnings per share were $0.37 versus $0.07.

Q1 10 Financial Review

Educational services expenses were 55.3% of revenue in Q1 10 versus 61.1% in Q1 09. The improvement was mainly the result of a higher student population and the resulting leverage of facilities costs and a decrease in bad debt expense. Bad debt expense was 6.4% of revenue in Q1 10, lower than our previous guidance of 6.7% - 7.1%, and down substantially from 8.9% in Q1 09.

Marketing and admissions expenses were 20.6% of revenue in Q1 10 versus 25.3% in Q1 09. Advertising costs declined as a percent of revenue, partially offset by increased admissions representative staffing for the Everest high school recruiting program.

General and administrative expenses were 10.2% of revenue in Q1 10 versus 10.1% in Q1 09.

Operating margin - As a result of the factors outlined above, our operating margin from continuing operations was 13.9% in Q1 10 versus 3.5% in Q1 09.

Cash and cash equivalents totaled $225.3 million at September 30, 2009, compared with $160.3 million at June 30, 2009.

Cash flow from operations, including discontinued operations, was $80.7 million in Q1 10 versus $27.7 million in Q1 09. The increase in cash flow is primarily due to an increase in net income, and the timing of cash receipts and payments related to working capital, primarily prepaid tuition and taxes payable.

Capital expenditures were $14.3 million in Q1 10 compared with $10.9 million in Q1 09.

Guidance

Please note that the following guidance pertains to continuing operations and excludes any one-time charges.

In the second quarter ending December 31, 2009, we expect start growth of 10% - 12% compared with the second quarter of the prior year; revenue to range from $395 - $405 million; and diluted earnings per share to be approximately $0.37 - $0.40.

We are increasing guidance for fiscal 2010. We now expect start growth of 11% - 13% in fiscal 2010 compared with fiscal 2009, versus previous guidance of 10% - 12%. We expect revenue to range from $1.62 - $1.64 billion, versus previous guidance of $1.58 -$1.60 billion; and diluted earnings per share to range from $1.55 to $1.60 versus $1.30 - $1.36 previously.

Conference Call Today

We will host a conference call today at 12:00 p.m. Eastern Time (9:00 a.m. Pacific Time), for the purpose of discussing first quarter results. The call will be open to all interested investors through a live audio web cast at www.cci.edu (Investor Relations/Webcasts & Presentations) and http://www.companyboardroom.com/ www.earnings.com. The call will be archived on www.cci.edu after the call. A telephonic playback of the conference call will also be available through 5:00 p.m. ET, Thursday, November 5, 2009. To hear the replay, dial (888) 286-8010 (domestic) or (617) 801-6888 (international) and enter passcode 38131148.

About Corinthian Colleges, Inc.

Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America. The Company's mission is to prepare students for careers in demand or for advancement in their chosen field. Corinthian offers diploma programs and associate, bachelor's, and master's degrees in a variety of high-demand occupational areas, including healthcare, business, criminal justice, transportation technology and maintenance, construction trades and information technology. More information can be found on Corinthian's website at www.cci.edu.

Certain statements in this press release may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995. The company intends that all such statements be subject to the "safe-harbor" provisions of that Act. Such statements include, but are not limited to, those pertaining to our expectations regarding (i) continued student population growth; (ii) sources of growth in fiscal 2010; (iii) continued high unemployment contributing to growth; (iv) our expectations regarding the Heald transaction, including the expected closing date; and (v) the statements included under the heading "Guidance" above. Many factors may cause the company's actual results to differ materially from those discussed in any such forward-looking statements or elsewhere, including risks associated with variability in the expense and effectiveness of the company's advertising and promotional efforts; the uncertain future impact of the company's new student information system; increased competition; the company's effectiveness in its regulatory compliance efforts; the outcome of pending litigation against the company; the outcome of ongoing reviews and inquiries by accrediting, state and federal agencies; potential higher bad debt expense or reduced revenue associated with requesting students to pay more of their educational expenses while in school; the potential inability or failure of the company to employ underwriting guidelines that will limit the risk of higher student loan defaults and higher bad debt expense; changes in general macroeconomic and market conditions (including credit and labor market conditions, the unemployment rate and the rates of change of each such item); the potential inability or failure to achieve regulatory approvals and satisfy the other conditions to closing for the Heald acquisition; potential integration risks associated with the Heald acquisition; the potential failure to identify risks or liabilities associated with Heald during the company's due diligence investigation; risks associated with the additional debt incurred to finance the Heald acquisition; and other risks and uncertainties described in the company's filings with the U.S. Securities and Exchange Commission. The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contacts:
               Investors:                  Media:
               Anna Marie Dunlap           Robert Jaffe
               SVP Investor Relations      Pondel Wilkinson, Inc.
               Corinthian Colleges, Inc.   310-279-5969
               714-424-2678

                           Corinthian Colleges, Inc.
                     (In thousands, except per share data)



    Consolidated Statements of Operations
                                                For the three months ended
                                                       September 30,
                                                    2009         2008
                                                    ----         ----
                                                (Unaudited)  (Unaudited)

    Net revenues                                 $388,471     $289,581
    Operating expenses:
      Educational services                        215,013      176,835
      General and administrative                   39,464       29,338
      Marketing and admissions                     80,104       73,340
    Total operating expenses                      334,581      279,513
                                                  -------      -------

    Income  from operations                        53,890       10,068

    Interest (income)                                (300)        (449)
    Interest expense                                  504          757
    Other (income) expense                         (1,159)         203
                                                   ------          ---
    Income from continuing operations before
     provision for income taxes                    54,845        9,557
    Provision for income taxes                     21,931        3,851
                                                   ------        -----
    Income from continuing operations             $32,914       $5,706
    (Loss) from discontinued operations, net
     of tax                                             -         (220)
                                                      ---         ----
    Net income                                     32,914        5,486
                                                   ======        =====

    Income per share - Basic:
      Income from continuing operations             $0.38        $0.07
      (Loss) from discontinued operations              $-       $(0.01)
                                                      ---       ------
      Net income                                    $0.38        $0.06
                                                    =====        =====

    Income per share - Diluted:
      Income from continuing operations             $0.37        $0.07
      (Loss) from discontinued operations              $-       $(0.01)
                                                      ---       ------
      Net income                                    $0.37        $0.06
                                                    =====        =====

    Weighted average number of common shares
     outstanding:
      Basic                                        87,264       85,399
      Diluted                                      88,634       86,779



    Selected Consolidated Balance Sheet Data
                                                September 30,   June 30,
                                                    2009         2009
                                                 (Unaudited)

    Cash, restricted cash, and marketable
     securities                                  $225,348     $160,276
    Receivables, net (including long term
     notes receivable)                           $108,386      107,446
    Current assets                               $358,769      308,531
    Total assets                                 $860,706      798,871
    Current liabilities                          $224,988      200,583
    Long-term debt and capital leases
     (including current portion)                  $22,931       28,558
    Total liabilities                            $300,917      281,203
    Total stockholders' equity                   $559,789     $517,668

SOURCE Corinthian Colleges, Inc.

Investors, Anna Marie Dunlap, SVP Investor Relations of Corinthian Colleges, Inc., +1-714-424-2678, or Media, Robert Jaffe of Pondel Wilkinson, Inc., +1-310-279-5969, for Corinthian Colleges, Inc.

SANTA ANA, Calif., Oct. 20 /PRNewswire-FirstCall/ -- Corinthian Colleges, Inc. (Nasdaq: COCO) has signed a definitive agreement to acquire Heald Capital LLC, the parent company of Heald College. Heald is a regionally accredited institution that has been delivering quality career-focused academic programs since 1863 and has created a strong brand in its markets. Heald prepares students for careers in healthcare, business, legal, information technology and other growing fields, primarily through associate degree programs. Headquartered in San Francisco, California, Heald operates 11 campuses and had approximately 12,300 students at September 30, 2009.

Heald has nine campuses in Northern California, one campus in Honolulu, Hawaii and one campus in Portland, Oregon. In addition, Heald recently received approval from its accreditation agency, The Accrediting Commission for Community and Junior Colleges of the Western Association of Schools and Colleges, to offer fully online degrees. The College expects to begin enrolling exclusively online students in early 2010. Corinthian currently has five nationally accredited schools in Northern California which primarily offer short-term diploma programs in healthcare, automotive technology and the trades.

"The acquisition of Heald is consistent with Corinthian's strategy of increasing its presence in markets with high growth potential and expanding its ability to offer regionally accredited programs," said Peter Waller, Corinthian's chief executive officer. "Upon completion, the Heald acquisition will give Corinthian an increased presence in Northern California, Oregon and Hawaii; a growth platform for campus-based and online regionally accredited programs; and a third strong brand. In addition, both organizations are dedicated to the mission of changing students' lives through quality, career-oriented education. We look forward to welcoming Heald's chief executive Nolan Miura and his capable team as a new and separate division at Corinthian."

"We fully support this proposed transaction, as Corinthian and Heald are both committed to preparing students for academic, personal and professional success," said Nolan Miura, Heald's president and chief executive officer. "I am proud of the strong culture and team that we have built at Heald and believe that our passion for student achievement has fueled the institution's substantial progress over the past few years. We believe the transaction will allow us to build on past success by giving Heald access to greater resources and through the sharing of best practices. Having spent eight years at Corinthian as a senior executive, I know personally that both organizations strive to put students first and to provide a positive culture for faculty and staff. We look forward to joining Corinthian and to the opportunities it will create for Heald."

Heald Capital's controlling shareholder is Brad Palmer, Founder and Managing Partner of Palm Ventures, LLC, who organized Heald Capital to acquire the majority interest in Heald College in 2007. Mr. Palmer recruited the current Heald Trustee Board, which includes a number of nationally recognized education and business leaders, and he has worked cooperatively with Mr. Miura and management to provide the resources essential for the development of the college. In March 2009, Mr. Palmer sold a minority equity interest in Heald to funds affiliated with Summit Partners.

Transaction Terms

Under the terms of the definitive agreement, Corinthian will pay the purchase price of $395 million in cash at closing in exchange for all outstanding membership interests of Heald Capital LLC, the parent company of Heald College, subject to certain working capital items. The purchase price also includes the repayment or assumption of Heald's debt and other closing payments.

By virtue of Heald's limited liability ownership structure, Corinthian will receive a tax "step up" in the assets of Heald Capital LLC and its subsidiaries that is expected to provide substantial future tax benefits to Corinthian. Assuming a discount rate of 8% and an effective tax rate of 40%, these benefits have a net present value to Corinthian of approximately $70 million, implying an effective net purchase price of $325 million, or 8.4 times Heald's projected fiscal 2009 adjusted EBITDA.

Corinthian plans to finance the acquisition through a combination of cash and debt, using its recently announced $280 million credit facility and available cash. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in the third quarter ended March 31, 2010.

BofA Merrill Lynch acted as financial advisor to Corinthian, and O'Melveny & Myers LLP served as Corinthian's legal counsel. Kirkland & Ellis served as legal counsel to Heald and to the sellers.

Financial Impact

Heald is expected to generate revenues of approximately $180 - $185 million and adjusted EBITDA of approximately $38.5 million for the fiscal year ending December 31, 2009. Heald's student population is expected to grow by approximately 30% in its fiscal year ending December 31, 2009, compared to its fiscal year ended December 31, 2008.

Excluding transaction-related expenses, we expect the acquisition to be slightly accretive to earnings in the second half of fiscal 2010, and to add approximately $0.15 - $0.20 to diluted earnings per share in fiscal 2011. These projections are based upon preliminary estimates of the allocation of purchase price intangible assets. The final allocation will be determined after closing.

Conference Call Today

We will host a conference call today at 12:00 p.m. Eastern Time (9:00 a.m. Pacific Time), for the purpose of discussing the definitive agreement with Heald. The call will be open to all interested investors by dialing (866) 383-8009 (domestic) or (617) 597-5342, pass code 61656578 or through a live audio web cast at www.cci.edu (Investor Relations/Webcasts & Presentations) and www.streetevents.com. The call will be archived on www.cci.edu after the call. A telephonic playback of the conference call will also be available through 5:00 p.m. ET, Tuesday, October 27, 2009. To hear the replay, dial (888) 286-8010 (domestic) or (617) 801-6888 (international), pass code 96241011.

About Corinthian Colleges

Corinthian Colleges is one of the largest post-secondary education companies in North America, with annual revenues of $1.3 billion and a student population of over 86,000 students. The company's mission is to prepare students for careers in demand or for advancement in their chosen field. Corinthian offers diploma programs and associate, bachelor, and master's degrees in a variety of high-demand occupational areas, including healthcare, business, criminal justice, transportation technology and maintenance, construction trades and information technology. More information can be found on Corinthian's website at www.cci.edu.

About Heald

Founded in 1863, Heald is a regionally accredited private career college with 11 campuses located in Northern California; Portland, Oregon; and Honolulu, Hawaii. Heald offers Associate in Applied Science degrees, Associate of Arts degrees, diplomas and certificates in healthcare, business, legal, information technology and other growing fields.

About Palm Ventures

Palm Ventures (www.palmventures.com), based in Greenwich, CT, was founded by Brad Palmer and is focused on investing Palmer family capital in companies which have a positive and transformative impact on society. Current industry focus is in education, health care, human resources, business services, financial services and renewable energy. Palm Ventures takes a strong value-added approach to the development of its portfolio companies, leveraging a broad network of strategic investors, retired executives and operating professionals who provide strategic advice and oversight to companies and management. In addition to Heald, Palm Ventures has made investments in six other successful education companies.

About Summit Partners

Summit Partners (www.summitpartners.com) is a growth equity investor that provides private equity and venture capital to rapidly growing companies. Founded in 1984, Summit has raised more than $11 billion in capital and has provided growth equity, recapitalization and management buyout financing to more than 300 growing companies across a range of industries and geographies. Summit Partners seeks outstanding management teams that have self-financed their companies to profitability and market leadership.

Certain statements in this press release may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995. The company intends that all such statements be subject to the "safe-harbor" provisions of that Act. Such statements include, but are not limited to, those pertaining to our expectations regarding (i) Heald's expected roll-out of exclusively online programs, (ii) Heald's expected student population growth, as well as revenue and EBITDA for the year ending December 31, 2009; (iii) Corinthian's expected earnings per share accretion associated with the acquisition; (iv) the potential tax benefits associated with the acquisition; and (v) the anticipated closing date of the acquisition. Many factors may cause the company's actual results to differ materially from those discussed in any such forward-looking statements, including the potential inability or failure to achieve regulatory approvals and satisfy the other conditions to closing, potential integration risks with a newly acquired operation, the potential failure to identify risks or liabilities associated with the acquired schools during the company's due diligence investigation, risks associated with the additional debt incurred to finance the acquisition, and the other risks and uncertainties described in the company's filings with the U.S. Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Investors:                          Media:
    Anna Marie Dunlap                   Robert Jaffe
    SVP Investor Relations              Pondel Wilkinson, Inc.
    Corinthian Colleges, Inc.           310-279-5969
    714-424-2678

SOURCE Corinthian Colleges, Inc.

Investors, Anna Marie Dunlap, SVP Investor Relations of Corinthian Colleges, Inc., +1-714-424-2678, or Media, Robert Jaffe of Pondel Wilkinson, Inc., +1-310-279-5969, for Corinthian Colleges, Inc.

SANTA ANA, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Corinthian Colleges, Inc. (Nasdaq: COCO) will report financial results for the first quarter ended September 30, 2009, on October 29 prior to market open. The company will host a conference call at 12:00 p.m. EDT (9:00 a.m. PT) on October 29 to review its performance and outlook.

The conference call will be open to all interested investors through a live audio webcast via the internet at www.cci.edu (Investor Relations/Webcasts & Presentations) and www.earnings.com. The call will be archived on www.cci.edu. A telephonic playback of the conference call will also be available through 5:00 p.m. EDT. The playback can be reached by dialing (888) 286-8010 (domestic) or (617) 801-6888 (international) and entering passcode 38131148.

About Corinthian Colleges, Inc.

Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America. Our mission is to prepare students for careers in demand or for advancement in their chosen field. We offer diploma programs and associate's, bachelor's, and master's degrees in a variety of high-demand occupational areas, including healthcare, transportation technology and maintenance, criminal justice, business, information technology, and construction trades.

SOURCE Corinthian Colleges, Inc.

investors, Anna Marie Dunlap, SVP, Investor Relations, of Corinthian Colleges, Inc., +1-714-424-2678; or media, Robert Jaffe, of PondelWilkinson, Inc., +1-310-279-5969, for Corinthian Colleges, Inc.

The conference is being held at the Intercontinental Hotel in Boston. The audio portion of the presentation will be webcast live. To access the webcast, go to the investor relations section of Corinthian's website, http://www.cci.edu. An audio recording of the presentation will be archived and available following the event.

About Corinthian Colleges, Inc.

Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America. The Company's mission is to prepare students for careers in demand or for advancement in their chosen field. Corinthian offers diploma programs and associate's, bachelor's, and master's degrees in a variety of high-demand occupational areas, including healthcare, business, criminal justice, transportation technology and maintenance, construction trades and information technology.

More information can be found on Corinthian's website at http://www.cci.edu.

SOURCE Corinthian Colleges, Inc.

investors, Anna Marie Dunlap, SVP Investor Relations/Corporate Communications of Corinthian Colleges, Inc., +1-714-424-2678; or media, Robert Jaffe of PondelWilkinson Inc., +1-310-279-5969, for Corinthian Colleges, Inc.