Scott Shaw: It doesn’t include any new campuses. It does include whatever new programs we launched last year, which we launched up two or three in the fourth quarter. And then, the rest of the growth is what we believe we can achieve through greater efficiencies of converting all the leads and enrollments that we’re getting today.
Raj Sharma: Right. So, I just wanted to understand the composition of that. Do you think that young adults are probably going to be down the same day more in ’22? Is that — did I hear that correctly? And high school growth — I just want to understand
Scott Shaw: Yes, good question. So again, our enrollments were up 7% last year. Our challenge was we couldn’t convert enough of those into starts. Obviously, we were down overall about 2.8% with all that really being in the adult sector since the high school sector was flat. Going into 2023, we think the high school market is going to perform at a similar level that it did slightly up from 2022, but we’re anticipating being more efficient and effective in converting our enrollments into starts, which will enable us to achieve that 5 to 10 percentage growth rate that we’re anticipated. Part of that increase is due to two or three programs that did launch in the fourth quarter of 2022, but a lot of it is just due to improved conversions of enrollments into starts.
Raj Sharma: Got it. And then just lastly on the sales the Nashville, Tennessee campus. So, you’re still confident that closes in Q2? Any developments on that front? Any new demand? Any changes? Or is that business as usual?
Scott Shaw: Yes. So, they have — their last major, I guess, town hearing is on March 7, I believe. And so, based off of everything that they’ve heard to date, that should go well. So basically, in about a week’s time, that should hopefully give us the final go-ahead to start moving to a close of that sale.
Brian Meyers: As well as Raj, I’ll add, we get a very large non-refundable deposit in the month of March as well.
Raj Sharma: Got it. Okay. Thank you for answering my questions. I’ll take it offline. Thank you, again. Congratulations.
Scott Shaw: Thanks, Raj.
Operator: Thank you. There are no more questions in the queue. I would like to turn the call back over to Scott Shaw for final remarks.
Scott Shaw: Thank you, operator, and thank you all for joining us today. We are all very excited and encouraged by our progress and opportunities. I want to thank our great instructors and campus staff along with the corporate team for their dedication to our students. Everyone at Lincoln Tech is working to be the leading career of technical school in the country, offering high ROI careers. Our strong improvement in graduation and placement rates, along with complementary feedback from recent accreditation visits assures me that we are on the right track to achieve this objective. Employers continue to express frustration with finding talent and continue to see growing needs for technicians of all kinds as baby boomers retire.
At Lincoln, we believe more families and career seekers are looking for shorter, faster, cheaper and more assured path to employment as compared to college, and a Lincoln Tech education is increasingly becoming a preferred choice. Our balance sheet is strong and should strengthen with the sale of Nashville and we have identified numerous programs and campus expansion opportunities. And when the employment market does soften, we will be there to retrain the workforce with efficient campuses and engaging curriculum. Thank you again, and I look forward to updating you in May. Bye-bye.
Operator: This concludes today’s conference call. Thank you all for joining, and enjoy the rest of your day.
