Schedule of selected unaudited quarterly financial information |
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2014 |
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Jun 30,
2014 |
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Mar 31,
2014 |
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Dec 31,
2013 |
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Sep 30,
2013 |
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(In thousands)
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Consolidated Quarterly Statements of Operations |
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Revenues |
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$ |
232,046 |
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$ |
235,222 |
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$ |
223,919 |
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$ |
228,366 |
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Cost and expenses |
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Instructional costs and services |
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142,053 |
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140,592 |
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153,672 |
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132,902 |
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Selling, administrative and other operating expenses |
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74,847 |
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64,414 |
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75,753 |
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98,244 |
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Product development expenses |
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2,303 |
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2,831 |
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3,402 |
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5,684 |
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Total costs and expenses |
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219,203 |
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207,837 |
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232,827 |
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236,830 |
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Income from operations |
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12,843 |
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27,385 |
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(8,908 |
) |
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(8,464 |
) |
Realized gain on sale of assets |
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6,404 |
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— |
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— |
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— |
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Interest income (expense), net |
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55 |
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(12 |
) |
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(28 |
) |
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(84 |
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Income before income tax expense and noncontrolling interest |
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19,302 |
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27,373 |
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(8,936 |
) |
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(8,548 |
) |
Income tax expense |
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(7,349 |
) |
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(11,861 |
) |
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4,685 |
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3,450 |
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Net income |
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11,953 |
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15,512 |
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(4,251 |
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(5,098 |
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Add net loss attributable to noncontrolling interest |
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403 |
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437 |
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586 |
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58 |
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Net income attributable to common stockholders, including Series A stockholders |
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$ |
12,356 |
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$ |
15,949 |
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$ |
(3,665 |
) |
$ |
(5,040 |
) |
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Net income attributable to common stockholders per share, excluding Series A stockholders: |
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Basic |
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$ |
0.32 |
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$ |
0.40 |
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$ |
(0.09 |
) |
$ |
(0.13 |
) |
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Diluted |
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$ |
0.32 |
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$ |
0.40 |
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$ |
(0.09 |
) |
$ |
(0.13 |
) |
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Weighted average shares used in computing per share amounts: |
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Basic |
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38,540,464 |
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39,596,798 |
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39,977,228 |
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37,868,928 |
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Diluted |
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38,742,379 |
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39,596,798 |
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39,977,228 |
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37,868,928 |
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2013 |
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Jun 30,
2013 |
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Mar 31,
2013 |
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Dec 31,
2012 |
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Sep 30,
2012 |
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(In thousands)
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Consolidated Quarterly Statements of Operations |
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Revenues |
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$ |
203,087 |
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$ |
218,009 |
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$ |
206,028 |
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$ |
221,096 |
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Cost and expenses |
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Instructional costs and services |
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129,192 |
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127,759 |
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122,799 |
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118,648 |
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Selling, administrative and other operating expenses |
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66,206 |
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65,828 |
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61,379 |
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89,619 |
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Product development expenses |
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6,268 |
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5,070 |
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5,578 |
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4,168 |
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Total costs and expenses |
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201,666 |
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198,657 |
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189,756 |
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212,435 |
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Income from operations |
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1,421 |
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19,352 |
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16,272 |
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8,661 |
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Interest income (expense), net |
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1,657 |
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(306 |
) |
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(272 |
) |
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(228 |
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Income before income tax expense and noncontrolling interest |
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3,078 |
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19,046 |
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16,000 |
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8,433 |
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Income tax expense |
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(1,828 |
) |
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(7,626 |
) |
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(6,680 |
) |
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(3,889 |
) |
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Net income |
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1,250 |
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11,420 |
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9,320 |
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4,544 |
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Add net loss attributable to noncontrolling interest |
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1,018 |
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555 |
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191 |
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(187 |
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Net income attributable to common stockholders, including Series A stockholders |
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$ |
2,268 |
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$ |
11,975 |
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$ |
9,511 |
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$ |
4,357 |
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Net income attributable to common stockholders per share, excluding Series A stockholders*: |
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Basic |
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$ |
0.06 |
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$ |
0.31 |
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$ |
0.24 |
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$ |
0.11 |
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Diluted |
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$ |
0.06 |
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$ |
0.31 |
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$ |
0.24 |
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$ |
0.11 |
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Weighted average shares used in computing per share amounts: |
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Basic |
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36,642,685 |
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36,283,353 |
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36,118,519 |
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36,029,252 |
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Diluted |
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39,475,382 |
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39,033,353 |
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38,868,519 |
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38,779,252 |
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- *
- Includes the effect of rounding
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