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Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUE:      
Total revenue [1] $ 581,296 $ 596,435 $ 704,392
OPERATING EXPENSES:      
Educational services and facilities 109,897 143,344 235,100
General and administrative 390,707 404,965 477,725
Depreciation and amortization [1] 9,394 13,990 22,747
Asset impairment     1,164
Total operating expenses 509,998 562,299 736,736
Operating income (loss) [1] 71,298 34,136 (32,344)
OTHER INCOME (EXPENSE):      
Interest income 3,539 1,900 1,262
Interest expense (681) (451) (584)
Miscellaneous income 196 665 300
Total other income 3,054 2,114 978
PRETAX INCOME (LOSS) 74,352 36,250 (31,366)
Provision for (benefit from) income taxes 18,561 67,125 (16,550)
INCOME (LOSS) FROM CONTINUING OPERATIONS 55,791 (30,875) (14,816)
LOSS FROM DISCONTINUED OPERATIONS, net of tax (610) (1,022) (3,896)
NET INCOME (LOSS) 55,181 (31,897) (18,712)
OTHER COMPREHENSIVE (LOSS) INCOME, net of tax:      
Foreign currency translation adjustments (100) 288 (77)
Unrealized (losses) gains on investments (34) (194) 699
Total other comprehensive (loss) income (134) 94 622
COMPREHENSIVE INCOME (LOSS) $ 55,047 $ (31,803) $ (18,090)
NET INCOME (LOSS) PER SHARE - BASIC:      
Income (loss) from continuing operations $ 0.80 $ (0.45) $ (0.22)
Loss from discontinued operations (0.01) (0.01) (0.05)
Net income (loss) per share 0.79 [2] (0.46) [2] (0.27)
NET INCOME (LOSS) PER SHARE - DILUTED:      
Income (loss) from continuing operations 0.78 (0.45) (0.22)
Loss from discontinued operations (0.01) (0.01) (0.05)
Net income (loss) per share $ 0.77 [2] $ (0.46) [2] $ (0.27)
WEIGHTED AVERAGE SHARES OUTSTANDING:      
Basic 69,598 68,949 [3] 68,373 [3]
Diluted 71,482 68,949 [3] 68,373 [3]
Tuition and Fees [Member]      
REVENUE:      
Total revenue $ 578,545 $ 593,849 $ 700,525
Other [Member]      
REVENUE:      
Total revenue [4] $ 2,751 $ 2,586 $ 3,867
[1] The statement of income (loss) and comprehensive income (loss) balances including revenue, operating income (loss), depreciation and amortization and capital expenditures are presented above on a continuing operations basis. Total assets are presented on a consolidated basis including continuing and discontinued operations.
[2] Basic and diluted earnings per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly earnings per share amounts may not agree with the annual earnings per share amount for the corresponding year.
[3] Due to the fact that we reported a loss from continuing operations for the years ended December 31, 2017 and 2016, potential common stock equivalents were excluded from the diluted common shares outstanding calculation. Per FASB ASC Topic 260 – Earnings per Share, an entity that reports discontinued operations shall use income or loss from continuing operations as the benchmark for calculating diluted common shares outstanding, and as such, we have zero common stock equivalents since these shares would have an anti-dilutive effect on our net loss per share for the years ended December 31, 2017 and 2016.
[4] Other revenue primarily includes contract training revenue and bookstore and laptop sales.