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Quarterly Results of Operations (Tables)
12 Months Ended
Jun. 30, 2014
Quarterly Results of Operations (Unaudited)  
Schedule of selected unaudited quarterly financial information

 

 

 
  2014  
 
  Jun 30,
2014
  Mar 31,
2014
  Dec 31,
2013
  Sep 30,
2013
 
 
  (In thousands)
 

Consolidated Quarterly Statements of Operations

                         

Revenues

  $ 232,046   $ 235,222   $ 223,919   $ 228,366  

Cost and expenses

                         

Instructional costs and services

    142,053     140,592     153,672     132,902  

Selling, administrative and other operating expenses

    74,847     64,414     75,753     98,244  

Product development expenses

    2,303     2,831     3,402     5,684  
                   

Total costs and expenses

    219,203     207,837     232,827     236,830  
                   

Income from operations

    12,843     27,385     (8,908 )   (8,464 )

Realized gain on sale of assets

    6,404              

Interest income (expense), net

    55     (12 )   (28 )   (84 )
                   

Income before income tax expense and noncontrolling interest

    19,302     27,373     (8,936 )   (8,548 )

Income tax expense

    (7,349 )   (11,861 )   4,685     3,450  
                   

Net income

    11,953     15,512     (4,251 )   (5,098 )

Add net loss attributable to noncontrolling interest

    403     437     586     58  
                   

Net income attributable to common stockholders, including Series A stockholders

  $ 12,356   $ 15,949   $ (3,665 ) $ (5,040 )
                   
                   

Net income attributable to common stockholders per share, excluding Series A stockholders:

                         

Basic

  $ 0.32   $ 0.40   $ (0.09 ) $ (0.13 )
                   
                   

Diluted

  $ 0.32   $ 0.40   $ (0.09 ) $ (0.13 )
                   
                   

Weighted average shares used in computing per share amounts:

                         

Basic

    38,540,464     39,596,798     39,977,228     37,868,928  
                   
                   

Diluted

    38,742,379     39,596,798     39,977,228     37,868,928  
                   
                   


 

 
  2013  
 
  Jun 30,
2013
  Mar 31,
2013
  Dec 31,
2012
  Sep 30,
2012
 
 
  (In thousands)
 

Consolidated Quarterly Statements of Operations

                         

Revenues

  $ 203,087   $ 218,009   $ 206,028   $ 221,096  

Cost and expenses

                         

Instructional costs and services

    129,192     127,759     122,799     118,648  

Selling, administrative and other operating expenses

    66,206     65,828     61,379     89,619  

Product development expenses

    6,268     5,070     5,578     4,168  
                   

Total costs and expenses

    201,666     198,657     189,756     212,435  
                   

Income from operations

    1,421     19,352     16,272     8,661  

Interest income (expense), net

    1,657     (306 )   (272 )   (228 )
                   

Income before income tax expense and noncontrolling interest

    3,078     19,046     16,000     8,433  

Income tax expense

    (1,828 )   (7,626 )   (6,680 )   (3,889 )
                   

Net income

    1,250     11,420     9,320     4,544  

Add net loss attributable to noncontrolling interest

    1,018     555     191     (187 )
                   

Net income attributable to common stockholders, including Series A stockholders

  $ 2,268   $ 11,975   $ 9,511   $ 4,357  
                   
                   

Net income attributable to common stockholders per share, excluding Series A stockholders*:

                         

Basic

  $ 0.06   $ 0.31   $ 0.24   $ 0.11  
                   
                   

Diluted

  $ 0.06   $ 0.31   $ 0.24   $ 0.11  
                   
                   

Weighted average shares used in computing per share amounts:

                         

Basic

    36,642,685     36,283,353     36,118,519     36,029,252  
                   
                   

Diluted

    39,475,382     39,033,353     38,868,519     38,779,252  
                   
                   

*
Includes the effect of rounding