8-K

UNITED STATES

SECURITIES 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 1934

Date of Report

(Date of earliest event reported)

August 11, 2011

DEVRY INC.

(Exact name of registrant as specified in its charter)

Delaware	1-13988	36-3150143
(State of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3005 Highland Parkway Downers Grove, Illinois	60515
(Address of principal executive offices)	(Zip Code)

(630) 515-7700

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

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 (see General Instruction A.2. below):

¨ 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))

Item 8.01 Other Events.

DeVry Inc. recently renamed and repositioned some of its segments to reflect the current alignment of its operations. The former Other Educational Services segment was combined with the former Professional Education segment to create the International, K-12 and Professional Education segment. The three reporting segments are now as follows:

§   Business, Technology and Management (undergraduate and graduate at DeVry University, including Keller Graduate School of Management)

§   Medical and Healthcare (Chamberlain College of Nursing, Ross University, and Carrington College Group, Inc., and as of August 3, 2011, American University of the Caribbean)

§   International, K-12 and Professional Education (DeVry Brasil, Advances Academics and Becker Professional Education)

The segments described above have changed from those previously reported by DeVry.  The two largest segments, Business, Technology and Management; and Medical and Healthcare, remained unchanged as our two U.S. postsecondary educational segments. The combining of the former Professional Education and Other Educational Services segments reflects the realignment of DeVry’s management structure with DeVry Brasil, Advanced Academics and Becker Professional Education now reporting to one executive.  The new segment structure is consistent with how the Chief Operating Decision Maker evaluates performance and allocates resources to DeVry’s operating segments.  In addition, the new structure combines those educational institutions outside of United States postsecondary education into one segment.

Included as Exhibit 99.1 to this Form 8-K are historical quarterly Revenue and Operating Income before Non-controlling Interest and Income Taxes amounts by the renamed and repositioned segments for fiscal years 2011 and 2010. Included as Exhibit 99.2 to this Form 8-K are historical quarterly Revenue and Operating Income before Non-controlling Interest and Income Taxes amounts by the formerly reported segments for fiscal years 2011 and 2010.

Forward Looking Statements

Certain statements contained in this Form 8-K and related press release, including those that affect DeVry’s expectations or plans, may constitute forward-looking statements subject to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as DeVry Inc. or its management “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “foresees,” “intends,” “plans” or other words or phrases of similar import.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause DeVry’s actual results to differ materially from those projected or implied by these forward-looking statements.  Additional information regarding factors that could cause results to differ can be found in DeVry’s Annual Report on Form 10-K for the fiscal year ended June 30, 2010 and quarterly reports on Form 10-Q for the fiscal quarters ended September 30, 2010, December 31, 2010 and March 31, 2011.

These forward-looking statements are based on information as of August 11, 2011, and DeVry assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

Item 9.01 Financial Statements and Exhibits

99.1	Fiscal 2011 and 2010, historical quarterly Revenue and Operating Income before Non-controlling Interest and Income Taxes by renamed and repositioned segment
99.2	Fiscal 2011 and 2010, historical quarterly Revenue and Operating Income before Non-controlling Interest and Income Taxes by formerly reported segment

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.

	DEVRY INC.
	(Registrant)
Date: August 11, 2011	By:	/s/ Richard M. Gunst
		Richard M. Gunst
		Senior Vice President, Chief Financial Officer and Treasurer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Fiscal 2011and 2010, historical quarterly Revenue and Operating Income before Non-controlling Interest and Income Taxes by renamed and repositioned segment
99.2	Fiscal 2011and 2010, historical quarterly Revenue and Operating Income before Non-controlling Interest and Income Taxes by formerly reported segment

EX-99.1

Exhibit 99.1

DEVRY INC.

SEGMENT INFORMATION - NEW ALIGNMENT

(Dollars in Thousands)

PRELIMINARY
	For the Three Months						For the Three Months						For the Three Months						For the Three Months						For the Year
	Ended September 30,						Ended December 31,						Ended March 31,						Ended June 30,						Ended June 30,
	2010			2009			2010			2009			2011			2010			2011			2010			2011			2010
REVENUES:
Business, Technology and Management	$	352,918		$	283,506		$	370,743		$	313,256		$	378,698		$	334,603		$	357,787		$	332,188		$	1,460,146		$	1,263,553
Medical and Healthcare		136,658			117,158			142,145			125,774			142,544			132,640			136,988			131,465			558,335			507,037
International, K-12 and Professional Education		31,852			30,446			38,575			33,982			41,488			37,142			51,975			43,021			163,890			144,591
Total Consolidated Revenues		521,428			431,110			551,463			473,012			562,730			504,385			546,750			506,674			2,182,371			1,915,181
OPERATING INCOME (LOSS):
Business, Technology and Management		84,519			56,079			99,472			78,134			99,351			85,751			76,061			71,096			359,403			291,060
Medical and Healthcare		28,162			27,139			30,964			31,159			29,289			30,951			18,550			21,832			106,965			111,081
International, K-12 and Professional Education		(1,143	)		(78	)		6,738			3,954			10,263			6,733			16,826			9,273			32,684			19,882
Reconciling Items:
Amortization Expense		(1,475	)		(3,914	)		(1,477	)		(3,657	)		(1,497	)		(1,618	)		(1,654	)		(1,623	)		(6,103	)		(10,812	)
Depreciation and Other		1,752			159			(144	)		(661	)		(179	)		203			(203	)		(10	)		1,226			(309	)
Total Consolidated Operating Income		111,815			79,385			135,553			108,929			137,227			122,020			109,580			100,568			494,175			410,902
INTEREST AND OTHER (EXPENSE) INCOME:
Interest Income		423			500			381			574			435			476			300			530			1,539			2,080
Interest Expense		(254	)		(422	)		(239	)		(495	)		(348	)		(336	)		(441	)		(332	)		(1,282	)		(1,585	)
Net Investment Gain		-			831			-			313			-			81			-			-			-			1,225
Net Interest and Other (Expense) Income		169			909			142			392			87			221			(141	)		198			257			1,720
Total Consolidated Income before
Minority Interest and Income Taxes	$	111,984		$	80,294		$	135,695		$	109,321		$	137,314		$	122,241		$	109,439		$	100,766		$	494,432		$	412,622

All periods have been revised to reflect DeVry's new segment alignment. DeVry recently renamed and repositioned some of its segments to reflect the current alignment of its operations. The former Other Educational Services segment was combined with the former Professional Education segment to create the new International, K-12 and Professional Education segment. These segments are consistent with the method by which management evaluates performance and allocates resources.

EX-99.2

Exhibit 99.2

DEVRY INC.

SEGMENT INFORMATION - PREVIOUS ALIGNMENT

(Dollars in Thousands)

PRELIMINARY

	For the Three Months						For the Three Months						For the Three Months						For the Three Months						For the Year
	Ended September 30,						Ended December 31,						Ended March 31,						Ended June 30,						Ended June 30,
	2010			2009			2010			2009			2011			2010			2011			2010			2011			2010
REVENUES:
Business, Technology and Management	$	352,918		$	283,506		$	370,743		$	313,256		$	378,698		$	334,603		$	357,787		$	332,188		$	1,460,146		$	1,263,553
Medical and Healthcare		136,658			117,158			142,145			125,774			142,544			132,640			136,988			131,465			558,335			507,037
Professional Education		19,970			19,161			21,268			16,834			24,529			22,828			28,350			26,001			94,117			84,824
Other Educational Services		11,882			11,285			17,307			17,148			16,959			14,314			23,625			17,020			69,773			59,767
Total Consolidated Revenues		521,428			431,110			551,463			473,012			562,730			504,385			546,750			506,674			2,182,371			1,915,181
OPERATING INCOME (LOSS):
Business, Technology and Management		84,519			56,079			99,472			78,134			99,351			85,751			76,061			71,096			359,403			291,060
Medical and Healthcare		28,162			27,139			30,964			31,159			29,289			30,951			18,550			21,832			106,965			111,081
Professional Education		6,379			6,444			6,590			3,249			9,150			8,147			11,268			8,833			33,387			26,673
Other Educational Services		(7,522	)		(6,522	)		148			705			1,113			(1,414	)		5,558			440			(703	)		(6,791	)
Reconciling Items:
Amortization Expense		(1,475	)		(3,914	)		(1,477	)		(3,657	)		(1,497	)		(1,618	)		(1,654	)		(1,623	)		(6,103	)		(10,812	)
Depreciation and Other		1,752			159			(144	)		(661	)		(179	)		203			(203	)		(10	)		1,226			(309	)
Total Consolidated Operating Income		111,815			79,385			135,553			108,929			137,227			122,020			109,580			100,568			494,175			410,902
INTEREST AND OTHER (EXPENSE) INCOME:
Interest Income		423			500			381			574			435			476			300			530			1,539			2,080
Interest Expense		(254	)		(422	)		(239	)		(495	)		(348	)		(336	)		(441	)		(332	)		(1,282	)		(1,585	)
Net Investment Gain		-			831			-			313			-			81			-			-		$	-			1,225
Net Interest and Other (Expense) Income		169			909			142			392			87			221			(141	)		198			257			1,720
Total Consolidated Income before
Minority Interest and Income Taxes	$	111,984		$	80,294		$	135,695		$	109,321		$	137,314		$	122,241		$	109,439		$	100,766		$	494,432		$	412,622