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Unaudited Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUE:        
Total revenue $ 156,441 $ 142,036 $ 314,294 $ 290,101
OPERATING EXPENSES:        
Educational services and facilities 25,350 30,290 51,677 57,236
General and administrative 128,672 98,340 227,994 196,348
Depreciation and amortization 2,235 2,103 4,468 4,685
Total operating expenses 156,257 130,733 284,139 258,269
Operating income 184 11,303 30,155 31,832
OTHER INCOME:        
Interest income 1,592 742 3,032 1,376
Interest expense (40) (106) (82) (215)
Miscellaneous income (expense) 45 (135) 271 193
Total other income 1,597 501 3,221 1,354
PRETAX INCOME 1,781 11,804 33,376 33,186
Provision for income taxes 2,302 2,940 8,709 6,438
(LOSS) INCOME FROM CONTINUING OPERATIONS (521) 8,864 24,667 26,748
LOSS FROM DISCONTINUED OPERATIONS, net of tax (38) (113) (435) (495)
NET (LOSS) INCOME (559) 8,751 24,232 26,253
OTHER COMPREHENSIVE INCOME (LOSS), net of tax:        
Foreign currency translation adjustments 35 (168) (17) (82)
Unrealized gain (loss) on investments 371 108 770 (110)
Total other comprehensive income (loss) 406 (60) 753 (192)
COMPREHENSIVE (LOSS) INCOME $ (153) $ 8,691 $ 24,985 $ 26,061
NET (LOSS) INCOME PER SHARE - BASIC:        
(Loss) income from continuing operations $ (0.01) $ 0.13 $ 0.35 $ 0.39
Loss from discontinued operations       (0.01)
Net (loss) income per share (0.01) 0.13 0.35 0.38
NET (LOSS) INCOME PER SHARE - DILUTED:        
(Loss) income from continuing operations (0.01) 0.12 0.34 0.38
Loss from discontinued operations       (0.01)
Net (loss) income per share $ (0.01) $ 0.12 $ 0.34 $ 0.37
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Basic 70,105 [1] 69,668 69,972 69,443
Diluted 70,105 [1] 71,562 71,782 71,239
Tuition and Fees [Member]        
REVENUE:        
Total revenue $ 155,779 $ 141,344 $ 313,007 $ 288,854
Other [Member]        
REVENUE:        
Total revenue [2] $ 662 $ 692 $ 1,287 $ 1,247
[1] Due to the fact that we reported a loss from continuing operations for the quarter ended June 30, 2019, potential common stock equivalents are excluded from diluted common shares outstanding. 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 quarter ended June 30, 2019
[2] Other revenue primarily includes contract training revenue and bookstore and laptop sales.