Starting off with Slide 2 recent results and highlights. I’ll begin our call today by discussing our recent operating results and reviewing the progress we've made with respect to our strategic goals. Our CFO Rick Sunderland will then report on our first quarter financial results and provide additional perspective on the company's outlook for the second quarter of 2018.
In the first quarter of 2018, net course registrations by new students at APUS declined 11% and total net course registrations declined 4% compared to the prior year period. However net course registrations by returning students only declined by 3% year-over-year. We believe that the difference in the rate of decline of registrations by new students and that of returning students, relates at least in part to continued improvements in student persistence and our quality mix of students.
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