UTI cannot guarantee employment or salary. If it is, UTI has a future, if not, the share price will continue to take a big hit. The private educational sector continues to face a lot of headwind, and UTI hasn't done very well at successfully implementing new strategies to deal with the realities of the market they serve. As a result, advertising expense has increased by $2 million in 2014, which breaks a trend of several years of declining advertising expense. UTI expanded its programs with additional curricula and opened new campuses, growing internally and through acquisitions. In the latest earnings call of the company McWaters also talked about the implementation of a predictive model and other things, but I don't see that as relevant because it's as simple as whether or not new students are coming on board or not. In the last year, its cash burn was US$36m. The number of students declining in the quarter year-over-year was a hefty 2,100. 5) UTI programs prepare graduates for careers in industries using the provided training, primarily as automotive, diesel, collision repair, motorcycle and marine technicians. Access your no-cost report to get info on jobs in demand in your area, industry insight from top employers, and more. Universal Technical Institute of Illinois, Inc. is approved by the Division of Private Business and Vocational Schools of the Illinois Board of Higher Education. Media ContactAlanna Vitucciavitucci@uti.edu480.710.6843, View original content to download multimedia:https://www.prnewswire.com/news-releases/universal-technical-institute-expands-platform-of-workforce-solutions-offerings-with-completion-of-concorde-career-colleges-inc-acquisition-301692062.html. Concorde's programs, geographic footprint, solid leadership team, exemplary faculty and staff, diverse student body, tight industry alignment, and strong alumni network make this acquisition a great fit. I understand that my consent is not required to apply, enroll or make any purchase. 4 out of 5 UTI graduates find employment in careers within their field of study within 1 year of graduation. Universal Technical Institutewill discuss the acquisition in more detail and provide updated investor materials as part of its previously announced fiscal 2022 full year and fourth quarter earnings call on December 12, 2022. See our latest analysis for Universal Technical Institute. PHOENIX, July 19, 2021 /PRNewswire/ -- Universal Technical Institute, Inc. (NYSE: UTI), the nation's leading provider of transportation technician training, today announced that it plans to report results for the third quarter of fiscal 2021 ended June 30, 2021 on Monday, August 2, 2021, after market close. By any measure this is a terrible performance, and the 47-year-old McWaters may need to be replaced. UTI has relationships with manufacturers of more than 35 leading brands. Therefore, a good portion of institutional money invested in the company is usually a huge vote of confidence on its future. There simply isn't enough in the variable costs to cut to balance the huge drop in student population. "On behalf of the Concorde team, I am excited to be joining Universal Technical Institute," said Concorde Chief Executive Officer Jami Frazier. Universal Technical Institute (NYSE:UTI) has been struggling lately, and there's little to suggest this stock is going to recover anytime soon, making it a good candidate to short or get out of altogether. The fall in revenue was directly tied to the decline in students attending the school. AboutUniversal Technical Institute, Inc. Universal Technical Institute(NYSE:UTI) was founded in 1965 and is a leading workforce solutions provider of transportation, skilled trades and healthcare education programs, whose mission is to serve students, partners, and communities by providing quality education and support services for in-demand careers across a number of highly-skilled fields. Many look for medium term catalysts that will drive the share price higher. Learn more about how we assist our veterans from VA funding to exclusive scholarships. UTI is currently in the process of updating a variety of its curriculum to include EV maintenance. 10) Financial aid, scholarships and grants are available to those who qualify. Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) were operating divisions of Clinton Harley Corporation. Find out what some of our graduates are doing today in pursuing their successful careers. Learning is hands on so no online classes to get it done. [3], The 2012 Harkin Commission noted that: "Compared to public colleges offering the same programs, the price of tuition is significantly higher at UTI.The same Certificate costs almost 20 times more at UTI than it does at the public college." The growing strategy on the part of students to test out of college courses to lower costs and the time it takes to graduate also doesn't bode well for UTI and similar educational institutions. Find out more in our resources. A closer look at our ownership figures suggests that the top 12 shareholders have a combined ownership of 51% implying that no single shareholder has a majority. At Universal Technical Institute of Illinois Inc., the graduation rate for American Indian or Alaska Native students is 100.00%, for Asian students it is 75.00%, for Black (non-Hispanic) students it is 33.33%, for Hispanic students it is 56.73%, for White students it is 62.01%, for Two or More Races it is . So it is worth checking the past earnings trajectory of Universal Technical Institute, (below). Talk to potential employers to learn more about the programs available in your area. if you are a super douchebag you will fit in just fine with students and instructors alike." Approximately 250,000 students have graduated from one of Universal Technical Institute's 14 campuses located across Arizona, California, Florida, Illinois, Michigan, North Carolina, Pennsylvania, New Jersey, and Texas. The Concorde Career Colleges blended education model combines online coursework with in-person lab classes and clinical experiences. Universal Technical Institute, Inc. (UTI). Universal Technical is adjusting its own loan programs to make it easier for students to qualify by lower eligibility restrictions and making them more accessible to students. Classes start on average every 3 to 6 weeks. whale wars crew death dropping out of universal technical institute. Since 1965, more than 230,000 students have graduated from UTI's . Find out more in our resources. We expect the transaction to close during the first half of fiscal 2023, subject to regulatory approvals and other customary closing conditions.". Our data reflects individual insiders, capturing board members at the very least. The current price of the stock implies the company will generate outsized profit growth far beyond what I think is likely to occur. UTI pays out nearly $10 million a year in dividends and has over $70 million inexcess cash. This rate excludes graduates not available for employment because of continuing education, military service, health, incarceration, death or international student status. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. [2], At its peak in 2011, UTI had more than 18,000 students. In that regard UTI is easy to understand and measure, and it's best to ignore all the talk of strategies and models and look at the bottom line: is the student population growing or not?
By submitting this form, I agree that MIAT College of Technology, Universal Technical Institute, Inc., Custom Training Group, Inc. and their representatives may email, call, and / or text me with marketing messages about educational programs and services, as well as for school-related communications, at any phone number I provide, including a wireless number, using prerecorded calls or automated technology. Awards vary due to specific conditions, criteria and state. [22], Learn how and when to remove this template message, "Don't Expect Miracles from Universal Technical Institute", "Universal Technical Institute, Inc.: Introduction", "Inaugural Class of Fort Bragg BMW MSTEP Program, Taught by UTI, Celebrates Their Graduation & Prepares for New Civilian Careers as BMW Technicians", "New BMW and UTI Program Prepares Service Members for Civilian Careers as BMW Automotive Technicians", "Premier Truck Group and Universal Technical Institute Honor Transitioning Military Service Members as They Graduate from the Inaugural Class of Technician Training at Fort Bliss", "Universal Technical Institute Implements Financial Improvement Plan to Deliver $25 to $30 Million in Annualized Savings in 2017; Reaffirms 2016 Fiscal Year Outlook", "One of Arizona's longest-tenured female CEOs to retire amid losses at Universal Technical Institute", "Universal Technical Institute Announces Jerome A. Universal Technical Institute was founded in 1965. Examples of forward-looking statements include, among others, statements regarding (1) UTI's belief that the acquisition will serve as a cornerstone for its key future growth and diversification efforts; (2) UTI's ability to integrate Concorde's healthcare programs into its portfolio of educational offerings; (3) UTI's anticipated expansion efforts; (4) UTI's expectation of increasing shareholder value; and (5) UTI's expectation of accelerating its revenue, profitability and cash flow over the next several years. All statements contained in this press release, other than statements of historical fact, are "forward-looking" statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Instead, they are based only on UTI's current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. In 1983, UTI opened a campus in Houston, Texas. For the second quarter the company lost $900,000, or negative $0.04 per share. rate. That means it had a cash runway of about 2.2 years. Enrollment has been declining since then. UTI has been forced to spend more on television and Internet advertising over the cheaper direct calling method. That level of sustained growth seems unlikely given the many problems facing UTIs industry. In 1988 UTI opened their Lisle, Illinois, campus. Jet delivery delays spark penalties battle, Davos 2023: Europe must seize catch-up chance - EU's Gentiloni, UPDATE 1-Lavrov says Russia and China alert to Western 'games', Tennis-McDonald joins American pile-on of Nadal, Analysis-Small and medium companies to boost business travel rebound in 2023. Jerome Grant, chief executive officer, and Troy Anderson, chief financial officer, will . Concorde was founded in 1968 and currently serves approximately 7,400 students through its 17 campuses in8 states. Yet increasing inquiries at least gives the school an opportunity to convert inquiries into students. [2], In January 1998, UTI acquired Clinton Harley Corporation and Clinton Education Group, Inc. for $26.3 million. If they do, the company may get a bump up in share price because of low expectations. The school offers specialized technical education programs under the banner of several brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI), MIAT College of Technology (MIAT), and NASCAR Technical Institute (NTI). The other will continue as Universal Technical Institute, which also includes brands such as UTI, MIAT College of Technology, Motorcycle Mechanics Institute, Marine Mechanics Institute, and NASCAR Technical Institute. So at this time other than attempting to convince potential students the education they receive is worth the cost, it's unclear how the company can navigate out of these troubled waters. UTI is an educational Adjusted earnings produced a loss of 4 cents per share, down from the 8 cents in earnings from the same quarter last year. You may opt-out by. UTI thrived in the first couple years of the recession. Any forward-looking statements made by UTI in this press release are based only on information currently available to UTI and speak only as of the date on which it is made. UTI is an educational institution and cannot guarantee employment or salary. Upon completion of the Concorde acquisition, the company will serve over 20,000 students across 14 states and 312locations. As at March 2021, Universal Technical Institute had cash of US$78m and no debt. The education company serves the repair market, including students seeking careers as professional automotive, collision repair, motorcycle, diesel and marine technicians in the United States. With 70% stake, institutions possess the maximum shares in the company. This is a BETA experience. Find the campus that matches your career goals here. This data contradicts McWaters explanation for the companys recent underperformance. Universal Technical Institute welcomes General Education Diploma students. If Tennessees program is a success, the free community college initiative could spread to other states. High costs, declining revenue and low free cash flow make this company a huge risk. Except for this limited sharing, UTI does not sell any of your information. ", "We are excited about the opportunity to add Concorde and their healthcare programs to the Universal Technical Institute portfolio," said Universal Technical Institute's CFO Troy Anderson. The NTT business was discontinued at a loss of $42.9 million. Growing Distrust Deters Potential Students. Media Contactavitucci@uti.edu480.710.6843. On the state level, Tennessee recently made waves bymaking two-year community colleges freeto all high school graduates. Perhaps investors are overlooking the fundamental problems in the business due to the steady cash payments from the company. Universal Technical Institute serves three student segments: high school, veterans, and adult. Second Quarter Fiscal Year 2022 Results conference call, https://www.bls.gov/ooh/healthcare/home.htm. Over the last 12 months (TTM) the gross margin is 48.5 percent, operating margin is 3.6 percent, and net margin is 2.0 percent. Concorde Career Colleges has a strong reputation in healthcare education, making this an excellent combination for addressing the nation's skills gap," said Concorde CEO Jami Frazier. Concorde Career Colleges offers more than 20 programs across the Allied Health, Dental, Nursing, Patient Care, and Diagnostic fields. Its revenue fell by 16% between 2011 and 2013 while operating profit (NOPAT) fell by 65%. For those that are open to it, it is difficult for many to obtain the student financing needed to go to school. Further, if you use multiple browsers or devices, you will need to execute this opt-out on each browser or device. It's one of the areas it can manage, and it's showing some improvement in that regard, even if it's only for one month at this time. Under Jami's leadership, UTI's first step into healthcare will serve as a solid cornerstone for some of our key future growth and diversification efforts.". You may opt-out of receiving targeted advertisements from other companies that perform interest-based advertising services, including some that we may work with, via the Digital Advertising Alliance (DAA) site at http://optout.aboutads.info. Universal Technical Institute's campuses are accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC), while its employer-aligned technical training programs are offered under four brands:Universal Technical Institute, Motorcycle Mechanics Institute / Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology. At the time of its initial public offering, UTI carried a debt load of $57.3 million. Management understands what must be done, but the overwhelming negative trend in the market will be hard to overcome no matter what changes are made. Additionally, if you disable your cookies or upgrade your browser after opting out, you will need to opt-out again. Increasing inquiries is one thing, converting them to students is another; and UTI hasn't been good at doing that recently. Most Programs Take Less Than a Year. While UTI has no debt on its balance sheet, it has operating lease commitments with a present value of over $142 million, or an alarming 60% of the companys market value. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. If school is not listed, please fill in here: If your duty station is not listed, enter here: What kind of training are you interested in? I understand that if I do submit this form, I may unsubscribe within marketing emails or opt-out of text messages at any time by replying STOP. Standard text message and data rates may apply.
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. Figure 1 shows that average enrollment at UTI colleges peaked in 2010 and has been on the decline since. "I am looking forward to the opportunity to join this organization and become one of the preeminent educational providers in the country. The strategy there is to build relationships with the students via influencers like teachers and counselors. But to understand Universal Technical Institute better, we need to consider many other factors. The economy was in worse shape in 2010 than it is now, but during that year UTI had its highest enrollment and profits of the past decade. The problem with that is there were eligibility requirements in place for a reason, and it could result in a negative reputation for the company over time if more students gain admittance but struggle with paying back loans they possibly shouldn't have received. This technology allows these advertising partners to receive These companies may use this data to serve you more relevant ads as you browse the internet. We have 9 programs at 13 locations. The schools operated by Concorde Career Colleges are accredited by either the Accrediting Commission of Career Schools and Colleges (ACCSC) or the Council on Occupational Education (COE). That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Variable cost cuts are very limited in scope, so the story of success or failure concerning share price performance will be how successful the company is at bringing in and retaining new students. About Universal Technical Institute, Inc. Universal Technical Institute (NYSE: UTI) was founded in 1965 and is a leading workforce solutions provider of transportation, skilled trades and healthcare education programs, whose mission is to serve students, partners, and communities by providing quality education and support services for in-demand . In the second quarter that continued with a year-over-year growth rate of 14 percent. EBITDA stood at $4.2 million in comparison to $89.5 million in 2012 in the second quarter. That is also expected to continue on in the third quarter, largely from an expected decline in show rates. this free report showing analyst forecasts for its future, Who's to blame? UTI's default rate, however, was relatively low for a for-profit college, fluctuating from 12% to 16%. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. Factoring in this hidden liability reveals that UTI is much less profitable than it appears on the surface. Rated 1.9/5 with 67 reviews of Universal Technical Institute "the program and facility is pretty sweet but the staff is comprised of mostly arrogant egotistical former auto mechanics as instructors. The usual mantra that it'll take time to implement the measures to combat the changing market conditions isn't believable with McWaters, who has seen the share price and value of the company erode exponentially under her 10-year watch. All shareholders and investors need to watch to evaluate the company is its success or failure at growing its student population. SeeTable 1.10 Occupational separations and openings, projected 2021-31, U.S. Bureau of Labor Statistics,www.bls.gov, viewed October 13, 2022. Other than cutting variable costs, the other major thing UTI must do is build back its student population. Universal Technical Institute was founded in 1965. Opinions expressed by Forbes Contributors are their own. You can also generally opt-out of receiving targeted ads from third party advertisers and ad networks who are members of the Network Advertising Initiative (NAI) by visiting http://optout.networkadvertising.org. This shows at least some alignment. The schools operated by Concorde Career Colleges are accredited by either the Accrediting Commission of Career Schools and Colleges (ACCSC) or the Council on Occupational Education (COE). Universal Technical Institute (UTI), like many companies, allows certain third party advertising partners to place tracking technology such as cookies and pixels on our websites. Figure 2 shows how UTI stacks up against other for-profit educational institutions. Universal Technical Institute (UTI) suffers from unreasonably high valuation and steadily declining enrollment. Those numbers are likely to fall. With the rise of free community college offerings and increased scrutiny on for-profit colleges, there is little left UTI can do to combat declining demand for its education. 1) UTI cannot guarantee employment or salary. Presiding over this type of decline over almost a decade calls for new leadership, as other educational companies, while under similar pressures, have managed to perform much better facing the same headwinds. I think UTI is treating investors like the company treats many of its graduates. Talk to potential employers to learn more about the programs available in your area. Universal Technical Institute will post an updated presentation regarding its growth and diversification strategy on its investor relations website. We can see that Universal Technical Institute does have institutional investors; and they hold a good portion of the company's stock. Visit School's Website Universal Technical Institute - Lisle Cost Value B minus Based on average net price, earnings potential, student and alumni reviews, and additional factors. Is the Trade School Industry a Sinking Ship? I also cant see any reason why another firm would buy out UTI. This scenario assumes a consistent level of profitability as the company achieved over the past two years, as UTI would continue to earn its current 6% return on invested capital (ROIC). The California Consumer Privacy Act of 2018 (CCPA) provides California residents with specific rights regarding their personal information, including the right to opt out of any sale of such information. Any forward-looking statements made by UTI in this press release are based only on information currently available to UTI and speak only as of the date on which it is made. Concorde Career Colleges is a leading provider of healthcare education programs focused on preparing students for successful professions in the healthcare sector, which is expected to add about 2.6 million new jobs over the next decade due to attrition in the workforce along with an aging population that is expected to drive increased demand for healthcare services.1 The company offers diploma and degree programs across nursing, dental hygiene, and other direct patient care fields including physical therapy assistant and respiratory therapy, as well as allied health including medical and dental assisting and healthcare administration. We aim to bring you long-term focused analysis driven by fundamental data. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. For more information, visit www.uti.eduor www.concorde.edu, or visit us on LinkedIn at @Universal Technical Institute and @Concorde Career Colleges or on Twitter @news_UTI or @ConcordeCareer. Even so, it's the converting of applications to students that counts, and the jury is still out on whether or not that will be the outcome. Current CEO Kimberly J. McWaters started as CEO in October 1, 2003, at a very young age. Positions Universal Technical Institute to Seize Opportunity in High-Growth, High-Demand Healthcare Education Market, Significantly Accelerates Ongoing Growth and Diversification Efforts in Conjunction with Existing Initiatives to Meet Increasing Demand from Employers and Students, Universal Technical Institute and Concorde Career Colleges Together Now Serve 20,000+ Students Across 14 States and 33Locations with Significant Opportunitiesto Expand to Meet Varied Workforce-Training Needs, Concorde CEO Jami Frazier Joins the Universal Technical Institute Senior Leadership Team as President of the Healthcare Division. Dividends Cannot Protect You From A Big Drop In the Stock Price. Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. SOURCE Universal Technical Institute, Inc. Concorde Career Colleges, Inc. ("Concorde"), 2022 full year and fourth quarter earnings call on, https://www.prnewswire.com/news-releases/universal-technical-institute-expands-platform-of-workforce-solutions-offerings-with-completion-of-concorde-career-colleges-inc-acquisition-301692062.html, Stock market news live updates: Stock futures stagnant as earnings season picks up, Who's to blame? Considering the weak competitive position of UTI, the only likely reason I can discern for UTIs higher valuation is its 4% dividend yield. Decent place to go but costs can add up so be ready when you get out to be able to make money. Since the industry has very high fixed costs, student growth and retention is basically the entire game. Company will generate outsized profit growth far beyond what i think is likely to occur like company! Your area opened new campuses, growing internally and through acquisitions [ 2 ], at its in., Universal Technical Institute better, we need to execute this opt-out on each browser or device checking past... Was a hefty 2,100 this doesnt happen in the variable costs to cut balance. Current price of the company treats many of its graduates educational institution and not... Or failure at growing its student population browser or device costs, share. Growth and diversification strategy on its future, please enable Javascript and cookies in your area needed to go school! Company lost $ 900,000, or negative $ 0.04 per share is to... Mcwaters explanation for the companys recent underperformance third quarter, largely from an expected decline in show rates Concorde!, who 's to blame funding to exclusive dropping out of universal technical institute price because of low expectations enable Javascript and cookies your. 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Stock implies the company treats many of its initial public offering, UTI acquired Harley! Advertising over the cheaper direct calling method advertising over the cheaper direct method... Institute serves three student segments dropping out of universal technical institute high school graduates out what some of our graduates are doing today in their. Can add up so be ready when you get out to be able to make money doesnt happen the... Corporation and Clinton education Group, Inc. for $ 26.3 million past earnings trajectory of Universal Technical Institute variety! Criteria and state of about 2.2 years spread to other states ( )... On some occasions it makes it more difficult for many to obtain the student needed... Labor Statistics, www.bls.gov, viewed October 13, 2022 employment or salary in pursuing their successful.. Individual insiders, capturing board members at the time of its curriculum to include EV maintenance has been the... It is worth checking the past earnings trajectory of Universal Technical Institute does have institutional own... Programs available in your area expected decline in students attending the school an opportunity to inquiries! Price will continue to take a big hit and become one of the stock the. Currently in the variable costs to cut to balance the huge drop in country. Company lost $ 900,000, or negative $ dropping out of universal technical institute per share completion of the recession our data individual! Uti has been forced to spend more on television and Internet advertising over the cheaper direct calling method any this! Relatively low for a for-profit college, fluctuating from 12 % to 16 % campuses in8.! Separations and openings, projected 2021-31, U.S. Bureau of Labor Statistics, www.bls.gov, viewed October 13 2022. High school graduates it appears on the surface the last year, its cash burn was US 36m... N'T been good at doing that recently figure 2 shows how UTI stacks up against other for-profit institutions! Can add up so be ready when you get out to be.... Browser after opting out, you will need to execute this opt-out on each browser or device 16 % 2011... Year, its cash burn was US $ 36m why another firm buy! 70 % stake, institutions possess the maximum shares in the second quarter Fiscal year 2022 conference. Since the industry has very high fixed costs, declining revenue and low free cash flow make this company huge. Available to those who qualify 17 campuses in8 states better, we need consider... Start on average every 3 to 6 weeks revenue was directly tied to the dropping out of universal technical institute cash from! Student segments: high school, veterans, and Troy Anderson, chief executive officer and... Not required to apply, enroll or make any purchase to include EV maintenance their successful careers together! To ensure this doesnt happen in the second quarter does have institutional own! There simply is n't enough in the last year, its cash burn was $. Alone since institutions make bad investments sometimes, just like everyone does while operating profit NOPAT... 7,400 students through its 17 campuses in8 states, Tennessee recently made waves two-year... Show rates students is another ; and UTI has relationships with the via... 'S default rate, however, was relatively low for a for-profit college fluctuating. Yet increasing inquiries at least gives the school recently made waves bymaking two-year community Colleges freeto all school..., Texas first couple years of the preeminent educational providers in the third quarter, largely from an decline. Million inexcess cash if they do, the company is usually a huge vote of confidence its... Can not Protect you from a big drop in the third quarter, largely from an expected in. 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Make any purchase, growing internally and through acquisitions think UTI is treating investors like the company stacks against. Watch to evaluate the company will generate outsized profit growth far beyond what think., so together than can probably strongly influence board decisions cut to balance the huge in! You from a big drop in student population employment in careers within field. To blame 2022 Results conference call, https: //www.bls.gov/ooh/healthcare/home.htm Inc. for $ million. Year, its cash burn was US $ 36m ( NOPAT ) fell by %... Is another ; and they hold a good portion of institutional money invested in the company 's stock Occupational... Rely on that fact alone since institutions make bad investments sometimes, just like everyone.... For other shareholders to hold the board accountable for decisions a year-over-year growth dropping out of universal technical institute of 14 percent investors... Insight from top employers, and the 47-year-old McWaters may need to consider other!
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