Ambassadors Group Inc. (EPAX)

Ambassadors Group Inc., an educational company, organizes and promotes international and domestic travel programs for youth, athletes, and professionals. The company, through its subsidiaries, offers Student Ambassador Programs, which provide opportunities for grade school, middle school, and high school students to travel to domestic and foreign destinations to learn about the history, government, economy, and culture of such countries; Sports Ambassador Programs that offer opportunities for middle school and high school athletes to participate in international tournaments. It also offers Leader Programs, which provide educational opportunities for middle school and high school students to learn leadership, government, college admissions, and community involvement skills at domestic destinations; and Citizen Ambassador Programs that offer foreign travel experiences for professionals, with emphasis on meetings and seminars between delegates and persons in similar backgrounds, interests, or professions abroad. In addition, the company operates an Internet research and educational Website to provide online research content, including lesson plans, critical essays, online study guides, biographies, literary criticisms, book and film summaries, and references to encyclopedia articles. It markets its programs through a combination of direct mail and local informational meetings. Ambassadors Group Inc. has strategic alliances with Students on Ice, Inc.; and Full On (Europe) Limited to provide adventure and quality for its Student and Citizen Ambassador Programs, as well as with Safe Passage Travel I, LLC to provide safety awareness to support the education and support of safe travel practices. The company was founded in 1967 and is headquartered in Spokane, Washington.

For the nine months ended 30 September 2006, Ambassadors Group, Inc.'s revenues increased 32% to $83M. Net income increased 18% to $32.1M. Revenues reflect increased revenue from non-directly delivered programs. Net income was partially offset by decreased in operating margin, increase in selling & marketing expenses, higher general & administrative expenses and increased taxation expenses.