8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934August 2, 2011
(Date of earliest event reported)

American Public Education, Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware	001-33810	01-0724376
(State or other jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

111 W. Congress Street Charles Town, West Virginia	25414	304-724-3700
(Address of principal executive offices)	(Zip Code)	(Registrant's telephone number including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 – Financial Information
Item 2.02     Results of Operations and Financial Condition.

On August 2, 2011, American Public Education, Inc. issued a press release reporting financial results for the quarter ended June 30, 2011.  A copy of American Public Education’s press release is attached to this report as Exhibit 99.1 and is incorporated in this report by reference.  American Public Education has scheduled a conference call and webcast for 5:00 p.m. EST on August 2, 2011 to discuss its financial results, and slides for that call are attached to this report as Exhibit 99.2 and are incorporated in this report by reference.

Section 9 – Financial Statements and Exhibits
Item 9.01     Financial Statements and Exhibits.

(d)	Exhibits
	99.1	American Public Education, Inc. press release dated August 2, 2011, reporting   financial results for the quarter ended June 30, 2011.
	99.2	American Public Education, Inc. slides for August 2, 2011 conference call and   webcast for the quarter ended June 30, 2011.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		American Public Education, Inc.
Date:	August 2, 2011	By:	/s/ Harry T. Wilkins
			Harry T. Wilkins, Executive Vice President and
			Chief Financial Officer

EXHIBIT INDEX

99.1	American Public Education, Inc. press release dated August 2, 2011, reporting  financial results for the quarter ended June 30, 2011.
99.2	American Public Education, Inc. slides for August 2, 2011 conference call and  webcast for the quarter ended June 30, 2011.

EX-99.1

Exhibit 99.1

American Public Education Reports Second Quarter 2011 Results

CHARLES TOWN, W.V.--(BUSINESS WIRE)--August 2, 2011--American Public Education, Inc. (NASDAQ: APEI) – parent company of online learning provider American Public University System (APUS), which operates through American Military University (AMU) and American Public University (APU) – announced financial results for the quarter ended June 30, 2011.

Recent Highlights:

• Net course registrations from new students¹ in the second quarter of 2011 increased to approximately 18,900, an increase of approximately 39% over the same period of 2010.
• Net course registrations¹ increased to approximately 77,900 in the second quarter of 2011, a year-over-year increase of 28%.
• As of June 30, 2011, there were a total of 96,800 active students at American Public University System, a year-over-year increase of 34%.
• Second quarter 2011 revenues increased 31% to $60.8 million, compared to $46.3 million in the second quarter of 2010.
• Net income for the second quarter of 2011 increased 29% to $9.0 million, or $0.49 per diluted share, compared to $7.0 million, or $0.37 per diluted share, in the same period of 2010.
• American Public Education anticipates third quarter 2011 net course registrations from new students to increase approximately 35%¹ year over year; net course registrations to increase approximately 28%¹ year over year; revenues to increase approximately 29% year over year; and net income to be between $0.41 and $0.43 per diluted share.

Financial and Other Results:

Total revenues for the second quarter of 2011 increased 31% to $60.8 million, compared to total revenues of $46.3 million in the second quarter of 2010. Income from operations before interest income and income taxes in the second quarter of 2011 increased 27% to $14.9 million, compared to $11.7 million in the same period of 2010. Stock-based compensation expense reduced operating income by $746,000 in the second quarter of 2011 and $722,000 in the second quarter of 2010.

Net income for the second quarter of 2011 increased 29% to $9.0 million, or $0.49 per diluted share, which includes $452,000, or $0.03 per diluted share, in stock-based compensation expense, net of tax. This compares to net income of $7.0 million, or $0.37 per diluted share for the second quarter of 2010, including $447,000, or $0.02 per diluted share in stock-based compensation expense, net of tax. The weighted average diluted shares outstanding for the second quarter of 2011 and 2010 were approximately 18.3 million and 19.0 million, respectively.

For the six months ended June 30, 2011, total revenues were $119.5 million, an increase of 28% compared to total revenues of $93.6 million in the same period of 2010. Income from operations before interest income and income tax for the six months ended June 30, 2011 increased to $28.0 million, compared to $24.9 million in the same period of 2010. Stock-based compensation expense reduced each period's operating income by $1.6 million and $1.5 million, respectively.

Net income for the six months ended June 30, 2011 to $16.8 million, or $0.92 per diluted share, which includes $980,000, or $0.05 per diluted share, in stock-based compensation expense, net of tax. This compares to net income of $14.7 million, or $0.77 per diluted share, in the same period of 2010, including $923,000, or $0.05 per diluted share, in stock-based compensation expense, net of tax. The weighted average diluted shares outstanding for the six months ended June 30, 2011 and 2010 were approximately 18.4 million and 19.0 million, respectively.

Total cash and cash equivalents as of June 30, 2011 were approximately $94.5 million with no long-term debt. Cash from operations for the six months ended June 30, 2011 was approximately $25.7 million, compared to $18.2 million in the same period of 2010. Capital expenditures were approximately $6.8 million for the six months ended June 30, 2011, compared to $8.5 million in the prior year period. Depreciation and amortization was $4.3 million for the six months ended June 30, 2011 and $3.0 million for the same period of 2010.

Net Course Registrations:
For the three months ended June 30,
	2010	2011	% Change
Net Course Registrations from New Students1	13,600	18,900	39%
Net Course Registrations1	61,000	77,900	28%
For the six months ended June 30,
	2010	2011	% Change
Net Course Registrations from New Students	26,700	36,700	37%
Net Course Registrations	123,000	159,000	29%

Note: Net course registrations represent the aggregate number of classes in which students remain enrolled after the date by which they may drop the course without financial penalty.

¹ On January 3, 2011, APUS combined each one-credit lab course with its related three-credit class resulting in one four-credit course. Net course registrations and net course registration growth rates exclude other non-credit registrations and are presented throughout this press release as if labs and classes were combined in the prior year period.

Third Quarter 2011 Outlook:

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. The Company undertakes no obligation to update publicly any forward-looking statements for any reason.

American Public Education anticipates third quarter 2011 net course registrations from new students to increase approximately 35%¹ year-over-year; net course registrations to increase approximately 28%¹ year-over-year; revenues to increase approximately 29% over the prior year period; and net income to be between $0.41 and $0.43 per diluted share.

¹ As noted under Net Course Registrations above, net course registration growth rates exclude other non-credit registrations and are presented as if labs and classes were combined in the prior year period.

Webcast:

A live webcast of the Company’s second quarter earnings conference call will be broadcast at 5:00 p.m. EDT today. This call will be open to listeners who log in through the Company's investor relations website, www.AmericanPublicEducation.com.

A replay of the live webcast will also be available starting approximately one hour after the conclusion of the live conference call. The replay will be archived and available to listeners for one year.

American Public Education, Inc.

American Public Education, Inc. (NASDAQ: APEI) is an online provider of higher education focused primarily on serving the military and public service communities. American Public University System (APUS), wholly owned by APEI, operates through American Military University (AMU) and American Public University (APU). APUS serves more than 96,800 adult learners worldwide and offers 87 degree programs in fields ranging from homeland security, military studies, intelligence, and criminal justice to technology, business administration, public health, and liberal arts. Nationally recognized for its best practices in online higher education, APUS provides an affordable education through classes taught by experienced faculty who are leaders in their fields and committed to the academic achievement of their students.

American Public University System is accredited by The Higher Learning Commission and is a member of the North Central Association of Colleges and Schools (www.ncahlc.org). For more information about APUS graduation rates, median debt of students who completed programs, and other important information, visit www.apus.edu/disclosure.

Forward Looking Statements

Statements made in this press release regarding American Public Education, Inc., or its subsidiaries, that are not historical facts are forward-looking statements based on current expectations, assumptions, estimates and projections about American Public Education, Inc. and the industry. These forward-looking statements are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Forward-looking statements can be identified by words such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "should", "will" and "would". These forward-looking statements include, without limitation, statements regarding expected growth, expected revenues and expected earnings. Actual results could differ materially from those expressed or implied by these forward-looking statements as a result of various factors, including the various risks described in the "Risk Factors" section and elsewhere in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010, Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 and other filings with the SEC. The Company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

American Public Education, Inc.
Consolidated Statement of Income
(In thousands, except per share data)
	Three Months Ended
	June 30,
	2011		2010
	(Unaudited)
Revenues	$	60,795	$	46,254
Costs and expenses:
Instructional costs and services		23,011		17,376
Selling and promotional		9,721		8,120
General and administrative		10,910		7,451
Depreciation and amortization		2,242		1,568
Total costs and expenses		45,884		34,515
Income from operations before
interest income and income taxes		14,911		11,739
Interest income, net		25		35
Income before income taxes		14,936		11,774
Income tax expense		5,960		4,749
Net income	$	8,976	$	7,025
Net Income per common share:
Basic	$	0.50	$	0.38
Diluted	$	0.49	$	0.37
Weighted average number of
common shares:
Basic		17,890,298		18,407,149
Diluted		18,345,775		19,032,440
American Public Education, Inc.
Consolidated Statement of Income
(In thousands, except per share data)
	Six Months Ended
	June 30,
	2011		2010
	(Unaudited)
Revenues	$	119,459	$	93,565
Costs and expenses:
Instructional costs and services		45,116		35,401
Selling and promotional		20,605		15,229
General and administrative		21,421		15,083
Depreciation and amortization		4,335		2,976
Total costs and expenses		91,477		68,689
Income from operations before
interest income and income taxes		27,982		24,876
Interest income, net		52		57
Income before income taxes		28,034		24,933
Income tax expense		11,201		10,260
Net income	$	16,833	$	14,673
Net Income per common share:
Basic	$	0.94	$	0.80
Diluted	$	0.92	$	0.77
Weighted average number of
common shares:
Basic		17,912,423		18,364,843
Diluted		18,359,223		19,001,369

CONTACT:
American Public Education, Inc.
Harry T. Wilkins, CPA
Executive Vice President and Chief Financial Officer
304-724-3722
or
Christopher L. Symanoskie
Associate Vice President, Corporate Communications
703-334-3880

EX-99.2

Exhibit 99.2

Second Quarter 2011 Conference Call August 2, 2011 Leading the Way

Statements made in this presentation regarding American Public Education, Inc. or its subsidiaries, that are not historical facts are forward-looking statements based on current expectations, assumptions, estimates and projections about American Public Education and the industry. These forward-looking statements are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Forward-looking statements are some times identified by words such as “anticipate”, “believe”, “could", “estimate”, “expect”, “intend”, “may”, “should“, “will” and “would”. These forward-looking statements include, without limitation, statements on slide “Third Quarter 2011 Outlook”, as well as statements regarding expected growth. Actual results could differ materially from those expressed or implied by these forward-looking statements as a result of various factors, including the various risks described in the “Risk Factors” section and elsewhere in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010 and the Company’s Quarterly Report on Form 10-Q for the quarter March 31, 2011 as filed with the SEC, and in the Company’s other filings with the SEC. The Company undertakes no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. Safe Harbor Statement 2

For three months ending June 30, 2011 Net Course Registrations by Pay Type  Cash & Other 14% TA 44% Title IV 34% VA 8% Second Quarter 2011 Results:Affordability and quality appear to be key drivers of the AMU/APU value proposition.  Relationship building, referral programs, and interactive media remain highly successful elements of an integrated approach to advertising.  New programs, partnerships, civilian student outreach, and new markets are primary components of the long-term strategy. Pay Type 2Q2011 Growth (Y/Y) Title IV 96% TA 9% VA 21% Cash & Other -1% 3

Civilian Community Growth is key to long-term success New television and radio brand building campaign for APU yielding positive results.AMU’s Military CommunityAMU signs a new Department of Defense (DOD) Memorandum of Understanding (MOU).Military Tuition Assistance (TA) program may be adversely impacted by Department of Defense budget cuts. Collaboration with Learning Community The Higher Learning Commission (“HLC”) reaffirmed APUS accreditation without any stipulations on its affiliation status.Dr. Phil Ice was recognized with the Innovation in Distance Learning Administration Wagner Award at the 2011 Distance Learning Administration Conference. Focus on Quality & Affordability drives continued success in civilian and military communities, strengthens academic reputation, and improves faculty satisfaction. 4

Appropriate Investments in Quality & Long-Term Success Building Relationships to develop referrals and meaningful, long-term partnerships with organizations, groups and industries.National Association of Environmental Professionals  (NAEP) Investing in Student Services & Infrastructure to support a larger student population and address new compliance requirements.Sakai conversion proceeding as planned Expanding support for mobile devices and other productivity tools Improving FSA fraud prevention through enhanced identity verification programs/processesNew IT disaster recovery site in Texas to open in fourth quarter 2011Entering New Markets to further diversify and strengthen existing academic offerings, as well as to reach new and diverse audiences.   AA and BA in Retail ManagementBS and MS in AccountingAA in Criminal JusticeMS in Sports & Health Sciences BA and MA in Reverse Logistics – among the first of its kind 5

Conformance Creates Higher Standards Than Compliance For profit data sharing initiatives not required by Department of Education: Transparency by Design: 2008-current public companies participating - APEI, CPLA, BPI http://wcet.wiche.edu/advance/transparency-by-designWCET/Gates Predictive Analytics for Online Student Retention:Public companies participating - APOL, APEIhttp://wcet.wiche.edu/advance/par-framework The Accord:  20 regionally accredited for-profit institutions agreeing to transparency standards  Public companies participating - APEI, STRA 6

Second quarter 2011 revenues increased 31% year-over-year to $60.8 million Operating income increased 27% year-over-year to $14.9 million Net income increased 29% y/y to $9.0 million, or $0.49 per diluted share Strong Balance Sheet with No Debt $94.5 million in Cash & Cash Equivalents Second Quarter 2011 Financial Highlights 7

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. 1 On January 3, 2011, APUS combined one-credit lab courses with their related three-credit classes. As a result, the company now reports future net course registrations for the resulting four-credit courses as one registration. In the third quarter 2011 outlook, net course registration growth rates exclude other non-credit registrations and are presented as if labs and classes were combined in the prior year period. Below we show adjusted third quarter 2010 net course registrations as originally reported and adjusted to combine lab courses with their related class: Third Quarter 2010 As Reported Adjusted Net Course Registrations Net Course Registrations from New Students  69,200 16,000 66,000 15,600 Third Quarter 2011 (Y/Y) approximately 35% 28% 29% $0.41 to $0.43Earnings per diluted share Revenue growth Net course registration growth Net course registration growth from new students Third Quarter 2011 Outlook 8

Second Quarter 2011 Conference Call August 2, 2011 Leading the Way