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 1934

November 6, 2014
(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 November 6, 2014, American Public Education, Inc. issued a press release reporting financial results for the three and nine months ended September 30, 2014.  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. Eastern time on November 6, 2014 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.  A copy of the investor fact sheet is attached to this report as Exhibit 99.3 and is 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 November 6, 2014, reporting financial results for the three and nine months ended September 30, 2014.
	99.2	American Public Education, Inc. slides for November 6, 2014 conference call and webcast for the three and nine months ended September 30, 2014.
	99.3	American Public Education, Inc. fact sheet posted to its investor relations website on November 6, 2014.

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:	November 6, 2014	By:	/s/ Richard W. Sunderland, Jr.
			Richard W. Sunderland, Jr., Executive Vice
			President and Chief Financial Officer

EXHIBIT INDEX

99.1	American Public Education, Inc. press release dated November 6, 2014, reporting financial results for the three and nine months ended September 30, 2014.
99.2	American Public Education, Inc. slides for November 6, 2014 conference call and webcast for the three and nine months ended September 30, 2014.
99.3	American Public Education, Inc. fact sheet posted to its investor relations website on November 6, 2014.

EX-99.1

Exhibit 99.1

American Public Education Reports Third Quarter 2014 Results

CHARLES TOWN, W.Va.--(BUSINESS WIRE)--November 6, 2014--American Public Education, Inc. (NASDAQ: APEI) – parent company of online learning provider American Public University System (APUS) and campus-based Hondros College of Nursing – announced financial results for the quarter ended September 30, 2014.

Recent Results:

• Third quarter 2014 revenues increased 4% to $84.7 million, compared to $81.8 million in the same period of 2013.
• Income from operations before interest income and income taxes in the third quarter of 2014 was $14.6 million, compared to $17.5 million in the same period of 2013.
• Net income for the third quarter of 2014 decreased to $8.8 million, or $0.51 per diluted share, compared to $10.9 million, or $0.61 per diluted share, in the same period of 2013.
• At American Public University System, net course registrations in the third quarter of 2014 decreased approximately 5% year-over-year and net course registrations by new students in the third quarter of 2014 decreased approximately 11% year-over-year.
• As of September 30, 2014, student enrollment at Hondros College of Nursing increased approximately 8% to 1,311 students, compared to 1,213 students as of September 30, 2013.

Financial Results:

Total revenues for the third quarter of 2014 increased 4% to $84.7 million, compared to total revenues of $81.8 million in the third quarter of 2013. Income from operations before interest income and income taxes in the third quarter of 2014 was $14.6 million, compared to $17.5 million in the third quarter of 2013. Net income for the third quarter of 2014 was $8.8 million, or $0.51 per diluted share, compared to net income of $10.9 million, or $0.61 per diluted share for the third quarter of 2013. The weighted average diluted shares outstanding for the third quarter of 2014 and 2013 were approximately 17.4 million and 17.9 million, respectively.

For the nine months ended September 30, 2014, total revenues increased 5% to $258.7 million, compared to total revenues of $246.5 million in the prior year period. Income from operations before interest income and income taxes for the nine months ended September 30, 2014 was $47.2 million, compared to $52.9 million in the prior year period. Net income for the nine months ended September 30, 2014 was $29.1 million, or $1.65 per diluted share, compared to net income of $33.0 million, or $1.84 per diluted share in the prior year period. The weighted average diluted shares outstanding for the nine months ended September 30, 2014 and 2013 were approximately 17.6 million and 17.9 million, respectively.

On November 1, 2013, APEI acquired National Education Seminars, Inc. (referred to as Hondros College of Nursing); therefore the consolidated results for periods prior to November 1, 2013 do not include any results from the Hondros College of Nursing segment.

Total cash and cash equivalents as of September 30, 2014 were approximately $108.6 million with no long-term debt. Capital expenditures were approximately $15.3 million for the nine months ended September 30, 2014, compared to $15.1 million in the prior year period. Depreciation and amortization was $11.9 million for the nine months ended September 30, 2014, compared to $9.9 million for the same period of 2013.

Enrollments and Registrations:

American Public University System
For the three months ended September 30,	2014	2013	% Change
Net Course Registrations by New Students	19,700	22,100	-11%
Net Course Registrations	100,200	105,200	-5%
For the nine months ended September 30,	2014	2013	% Change
Net Course Registrations by New Students	54,100	59,000	-8%
Net Course Registrations	302,100	314,300	-4%
Hondros College of Nursing1
As of September 30,	2014	2013	% Change
New Student Enrollment	424	401	6%
Total Student Enrollment	1,311	1,213	8%

Net course registrations represent the aggregate number of courses for which students remain enrolled after the date by which they may drop a course without financial penalty. Student enrollment represents the number of students enrolled in one or more courses after the date by which they may drop the course without financial penalty.

¹ Hondros College of Nursing was acquired by APEI, effective November 1, 2013.

Fourth Quarter 2014 Outlook:

The following statements are based on American Public Education’s 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 fourth quarter 2014 consolidated revenues to increase between approximately 7% and 9% year-over-year, compared to the prior year period of 2013. The Company expects consolidated net income of between $0.50 and $0.54 per diluted share in the fourth quarter of 2014.

American Public Education also expects the following results from its subsidiaries in the fourth quarter of 2014:

• At American Public University System, net course registrations by new students are expected to increase between 0% and 2% year-over-year and net course registrations are expected to increase between 6% and 8% year-over-year.
• At Hondros College of Nursing, new student enrollment increased by approximately 16% year-over-year in the fourth quarter of 2014.

Webcast:

A live webcast of the Company’s third quarter 2014 earnings conference call will be broadcast today at 5:00 p.m. Eastern time. 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.

About American Public Education

American Public Education, Inc. (NASDAQ: APEI) is a leading provider of higher learning dedicated to preparing students all over the world for excellence in service, leadership and achievement. The Company offers respected, innovative and affordable academic programs and services to students, universities and partner organizations through wholly owned subsidiaries: American Public University System (APUS) and National Education Seminars Inc., which we refer to in this press release as Hondros College of Nursing. Together, these institutions serve approximately 112,600 adult learners worldwide and offer more than 97 degree programs in fields ranging from homeland security, military studies, intelligence, and criminal justice to technology, business administration, public health, nursing and liberal arts. For additional information, please visit http://AmericanPublicEducation.com.

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", “seek”, "could", "estimate", "expect", "intend", "may", "should", "will" and "would". These forward-looking statements include, without limitation, statements regarding expected growth, expected registration and enrollments, expected revenues, expected earnings and plans with respect to the game-based learning company. 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, 2013 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
	September 30,
	2014		2013
	(Unaudited)
Revenues	$	84,707	$	81,777
Costs and expenses:
Instructional costs and services		30,626		28,139
Selling and promotional		17,948		15,989
General and administrative		17,432		16,766
Depreciation and amortization		4,054		3,376
Total costs and expenses		70,060		64,270
Income from operations before interest income and income taxes		14,647		17,507
Interest income, net		98		77
Income before income taxes		14,745		17,584
Income tax expense		5,877		6,612
Equity investment loss, net of taxes		26		61
Net income	$	8,842	$	10,911
Net Income per common share:
Basic	$	0.51	$	0.62
Diluted	$	0.51	$	0.61
Weighted average number of
common shares:
Basic		17,255		17,658
Diluted		17,355		17,877
	Three Months Ended
Segment Information:	September 30,
	2014		2013
Revenues:
American Public Education, Inc.	$	77,191	$	81,777
Hondros College of Nursing	$	7,516	$	NA
Income from operations before interest income and income taxes:
American Public Education, Inc.	$	13,964	$	17,507
Hondros College of Nursing	$	683	$	NA

American Public Education, Inc.
Consolidated Statement of Income
(In thousands, except per share data)
	Nine Months Ended
	September 30,
	2014		2013
	(Unaudited)
Revenues	$	258,723	$	246,542
Costs and expenses:
Instructional costs and services		92,171		83,751
Selling and promotional		51,997		48,573
General and administrative		55,447		51,403
Depreciation and amortization		11,901		9,895
Total costs and expenses		211,516		193,622
Income from operations before interest income and income taxes		47,207		52,920
Interest income, net		277		230
Income before income taxes		47,484		53,150
Income tax expense		18,377		20,006
Equity investment loss, net of taxes		27		107
Net income	$	29,080	$	33,037
Net Income per common share:
Basic	$	1.67	$	1.87
Diluted	$	1.65	$	1.84
Weighted average number of
common shares:
Basic		17,394		17,689
Diluted		17,574		17,943
	Nine Months Ended
Segment Information:	September 30,
	2014		2013
Revenues:
American Public Education, Inc.	$	236,834	$	246,542
Hondros College of Nursing	$	21,889	$	NA
Income from operations before interest income and income taxes:
American Public Education, Inc.	$	45,043	$	52,920
Hondros College of Nursing	$	2,164	$	NA

CONTACT:
American Public Education, Inc.
Richard W. Sunderland, Jr., CPA
Executive Vice President and Chief Financial Officer
304-885-5371
or
Christopher L. Symanoskie
Vice President, Investor Relations
703-334-3880

EX-99.2

Exhibit 99.2

Third Quarter 2014 Financial Results Conference Call November 6, 2014 1 Moving Forward

SAFE HARBOR STATEMENT 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 can be identified by words such as "anticipate", "believe", “seek”, "could", "estimate", "expect", "intend", "may", "should", "will" and "would". These forward-looking statements include, without limitation, statements regarding expected growth, expected registration and enrollments, expected revenues, expected earnings and plans with respect to the game-based learning company. 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, 2013 and Form 10-Q for the quarter ended September 30, 2014 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. 2 Moving Forward

THIRD QUARTER 2014 HIGHLIGHTS CONTINUED EXECUTION OF STRATEGIC PLAN In the third quarter of 2014, APUS continued to be challenged by year-over-year declines in net course registrations by students using Tuition Assistance and Federal Student Aid. However, net course registrations by new students using GI Bill/Veteran benefits increased by +17%, compared to the prior year period. Net course registrations by new students using cash and other sources increased by +14%, compared to the prior year period. New student enrollment at Hondros College of Nursing increased 6%, compared to the prior year period. Pay Type YTD 2014 Growth (y/y) VA +9% Military/TA -8% FSA/Title IV -6% Cash & Other -4% For nine months ending September 30, 2014 APUS Net Course Registrations by Primary Funding Source Cash & Other 12% FSA/Title IV 35% Military/TA 35% VA 18% 3 Moving Forward

ACADEMIC QUALITY & INNOVATION ADVANCES STRATEGIC GOALS APEI Strategic Goals: Expand Academic Excellence Build Strategic Relationships Increase Programmatic Diversification Develop Innovative Processes Advance Learning Technologies Enter New Markets & Segments Recent Developments: APUS faculty/staff honored with a fourth Online Learning Consortium (formerly Sloan-C) Effective Practice Award. Launched additional intervention and student service initiatives to improve persistence in high enrollment courses. APU to host a second MOOC on American Government (POLS210) in the first quarter of 2015. APUS approved by HLC to launch a new dual master’s degree in Homeland Security and Emergency & Disaster Management in 2015. Quality Affordability Innovation APEI’s Foundation of Excellence: Value ValueAccess Access Success APEI 4 Moving Forward

FINANCIAL RESULTS SUMMARY THIRD QUARTER 2014 Revenues increased 4% to $84.7 million, compared to the prior year period. Income from operations before interest income and income taxes was $14.6 million, compared to $17.5 million in the prior year period. Overall operating margins declined in the third quarter of 2014: Instructional costs as a percentage of revenue increased to 36.2%, compared to 34.4% in the prior year period. Selling and promotional expenses increased as a percent of revenue to 21.2%, compared to 19.6% in the prior year period. General and administrative expenses as a percentage of revenues increased to 20.6% compared to 20.4% in the prior period. Bad debt expense as percent of revenue increased to 5.1%, compared to 4.1% in the prior year period. Net income decreased to $8.8 million or approximately $0.51 per diluted share, compared to the prior year period. Cash and cash equivalents decreased to $108.6 million with no long-term debt. On November 1, 2013, APEI acquired National Education Seminars, Inc. (referred to as Hondros College of Nursing), therefore the consolidated results for periods prior to November 1, 2013 do not include any results from the Hondros College of Nursing segment. 5 Moving Forward

FOURTH QUARTER 2014 FINANCIAL AND OPERATIONAL OUTLOOK The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. Approximate Change (y/y) APUS Net course registrations by new students +0% to +2% APUS Net course registrations +6% to +8% HCON New student enrollment Approx. +16% Total revenue growth +7% to +9% Total net income per diluted share $0.50 to $0.54 Fourth Quarter 2014 6 Moving Forward

Third Quarter 2014 Financial Results Conference Call November 6, 2014

APPENDIX I. EXPENSE RATIOS The table below includes a summary of expenses as a percent of revenue for our operating segments: 8 Moving Forward     20142013  2014201320142013    Revenues 100%100%100%NA100%100%Costs and expenses: Instructional costs and services 33.3%34.4%65.3%NA36.2%34.4% Selling and promotional 22.6%19.6%6.9%NA21.2%19.6% General and administrative 21.2%20.4%14.3%NA20.6%20.4% Depreciation and amortization4.8%4.2%4.5%NA4.8%4.2%   Total costs and expenses 81.9%78.6%91.0%NA82.8%78.6%HCON SEGMENT(Unaudited)APEI CONSOLIDATED September 30,APEI SEGMENT(Unaudited)(Unaudited)On November 1, 2013, APEI acquired National Education Seminars, Inc. (referred to as Hondros College of Nursing), therefore the consolidated results for periods prior to November 1, 2013 do not include any results from the Hondros College of Nursing segment.

EX-99.3

Exhibit 99.3

American Public Education, Inc. (NASDAQ: APEI) is a leading education services provider founded to prepare adult learners for service and leadership in a diverse global economy. The Company offers respected, innovative and affordable educational programs and services to students, universities and partner organizations through wholly owned subsidiaries: American Public University System (APUS) and Hondros College, Nursing Programs. These institutions serve approximately 112,600 adult learners worldwide and offer more than 100 degree programs in fields ranging from homeland security, military studies, intelligence, and criminal justice to technology, business administration, public health, nursing and liberal arts. American Public University System is accredited by the Higher Learning Commission (HLC) and a member of the North Central Association of Colleges and Schools (www.ncahlc.org, 312-263-0456). Hondros College, Nursing Programs is accredited by the Accrediting Council for Independent Colleges and Schools (ACICS), 750 First Street, NE Suite 980, Washington, DC 20002 (www.acics.org, 202-336-6780). HLC and ACICS are accrediting agencies recognized by the U.S. Department of Education and the Council for Higher Education Accreditation. TICKER: APEI EXCHANGE: NASDAQNOTE: Past performance is not indicative of future results. Additional information, including important details about risk factors, can be found in the company’s filings with the U.S. Securities and Exchange Commission, www.sec.gov.FACT SHEET: September 30, 2014Contact Chris Symanoskie Vice President, Investor Relations 703-334-3880 or csymanoskie@apus.edu APEI STRATEGY Our strategy builds on the core strengths of quality, affordability and innovation, which have helped establish our reputation for leadership and innovation. Moving forward, our plan is to continue expanding our presence in military, public service and civilian communities primarily through building relationships and referrals. As the higher education landscape changes, we will promote the success of our students through technological innovation, expand our program offerings, especially in high-demand fields, and we will actively pursue promising new frontiers in education through strategic partnerships, investments and acquisitions. $148,998 $23,943 $29,868 $40,757 $42,323 $42,034 $198,174 $260,377 $313,516 $329,479 REVENUESNET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 $50,000 $40,000 $30,000 $20,000 $10,000 $0 $115,753 $141,839 $198,891 $237,603 $271,656 $36,756 $47,078 $70,438 $52,838 $59,414 TOTAL ASSETSNET CASH PROVIDED BY OPERATING ACTIVITIES 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0$80,000 $60,000 $40,000 $20,000 $0

AMERICAN PUBLIC UNIVERSITY SYSTEM An online institution of higher learning serving the needs of military, public service and civilian communities through American Military University (AMU) and American Public University (APU). ENROLLMENT AND REGISTRATIONS For the three months ended September 30, 2014 2013 % Change Net Course Registrations by New Students 19,700 22,100 -11%Net Course Registrations 100,200 105,200 -5%For the nine months ended September 30, 2014 2013 % Change Net Course Registrations by New Students 54,100 59,000 -8%Net Course Registrations 302,100 314,300 -4%Net course registrations represent the aggregate number of courses for which students remain enrolled after the date by which they may drop a course without financial penalty. TUITION Combined tuition, fees, and books are roughly 20% less for undergraduate, and 40% less for graduate students than the average in-state rates at a public university.1Avg. Age of Students: 32 years Avg. Undergraduate Class Size: 18 students Gender Ratio: 63% male/37% female Avg. Courses Per Year: 3 Military/4 Civilian Faculty: 420 Full-Time/1,850 Adjunct Staff: 970 Full-Time/21 Part-Time AT-A-GLANCE AS OF SEPTEMBER 30, 2014REGISTRATIONS BY PRIMARY FUNDING SOURCE For the nine months ended September 30, 2014 Federal Student Aid (Title IV) Department of Defense Tuition Assistance (TA) Veteran’s Benefits (VA) Cash & Other Sources35%35%18%12%AMU & APU GRADUATES47,000+ Alumni45%+ of APUS undergraduate alumni return for second degree245%+ of APUS students referred by others Enrollment by degree level Associates Bachelors Masters23%60%17%Enrollment by school Business Public Service & Health Arts & Humanities Security & Global Studies Science, Technology, Engineering & Math Education 26%25%18%13%5%13%1. For additional details, visit www.amu.apus.edu/tuition-and-finance/tuition-and-fees/2. Represents returning undergraduate students from 2012 conferrals.3.  Hondros College, Nursing Programs was acquired by APEI, effective November 1, 2013.HONDROS COLLEGE OF NURSING3Serving the needs of nurses and the healthcare community through campus locations in Cincinnati, Dayton, Columbus and Cleveland, Ohio. ENROLLMENTAs of September 30, 2014 2013 % Change New Student Enrollment 424 401 6%Total Student Enrollment 1,310 1,210 8%Student enrollment represents the number of students enrolled in one or more courses after the date by which they may drop the course without financial penalty. Avg. Age of Students: 30 years Gender Ratio: 92% female/8% male Faculty: 100 Full-Time/40 Part-Time Staff: 77 Full-Time/1 Part-Time800+ Alumni AT-A-GLANCE AS OF SEPTEMBER 30, 2014Tuition Per Quarter Credit Hour Licensed Practical Nurse $240 Associate Degree in Nursing $260 Bachelors Science of Nursing $200 Licensed Practical Nurse Associate Degree in Nursing Bachelors Science of Nursing Enrollment by Program50%39%11%Four campus locations in Ohio