| Financial information by reporting segment |
Segment information for the three and nine months ended September 30, 2013 and 2012 were as follows (in thousands):
| | Three months ended September 30, 2013 | | Three months ended September 30, 2012 | | | | Ambassador Programs and Other1 | | | | | | Ambassador Programs and Other1 | | | | | | | | | | | | | | | BookRags | | Consolidated | | BookRags | | Consolidated | | Total revenue | $ | 21,367 | | $ | 910 | | $ | 22,277 | | $ | 21,529 | | $ | 903 | | $ | 22,432 | | Gross margin | $ | 17,239 | | $ | 785 | | $ | 18,024 | | $ | 18,256 | | $ | 785 | | $ | 19,041 | | Depreciation and amortization | $ | 1,230 | | $ | 141 | | $ | 1,371 | | $ | 1,236 | | $ | 138 | | $ | 1,374 | | Operating income (loss) | $ | (2,878 | ) | $ | 249 | | $ | (2,629 | ) | $ | 3,991 | | $ | 239 | | $ | 4,230 | | Income tax benefit (provision) | $ | 1,004 | | $ | (61 | ) | $ | 943 | | $ | 569 | | $ | 93 | | $ | 662 | | Net income (loss) | $ | (1,803 | ) | $ | 189 | | $ | (1,614 | ) | $ | 5,131 | | $ | 354 | | $ | 5,485 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | Nine months ended September 30, 2013 | | Nine months ended September 30, 2012 | | | | Ambassador Programs and Other1 | | | | | | | | Ambassador Programs and Other1 | | | | | | | | | | | | | | | | | | | | | BookRags | | Consolidated | | BookRags | | Consolidated | | Total revenue | $ | 46,714 | | $ | 2,938 | | $ | 49,652 | | $ | 53,597 | | $ | 3,106 | | $ | 56,703 | | Gross margin | $ | 39,661 | | $ | 2,558 | | $ | 42,219 | | $ | 47,425 | | $ | 2,685 | | $ | 50,110 | | Depreciation and amortization | $ | 3,655 | | $ | 433 | | $ | 4,088 | | $ | 3,373 | | $ | 413 | | $ | 3,786 | | Operating income (loss) | $ | (3,838 | ) | $ | 958 | | $ | (2,880 | ) | $ | 10,480 | | $ | 1,058 | | $ | 11,538 | | Income tax benefit (provision) | $ | 1,269 | | $ | (350 | ) | $ | 919 | | $ | (1,110 | ) | $ | (100 | ) | $ | (1,210 | ) | Net income (loss) | $ | (2,190 | ) | $ | 609 | | $ | (1,581 | ) | $ | 10,767 | | $ | 1,010 | | $ | 11,777 | | Total additions to property and equipment, net | $ | 2,501 | | $ | 313 | | $ | 2,814 | | $ | 4,290 | | $ | 289 | | $ | 4,579 | | Total additions to intangibles | $ | - | | $ | 251 | | $ | 251 | | $ | - | | $ | 418 | | $ | 418 | | Intangibles | $ | - | | $ | 3,529 | | $ | 3,529 | | $ | - | | $ | 3,541 | | $ | 3,541 | | Total assets | $ | 67,672 | | $ | 15,059 | | $ | 82,731 | | $ | 87,940 | | $ | 17,295 | | $ | 105,235 | |
1Ambassador Programs and Other include all travel programs offered by Ambassador Programs and World Adventures Unlimited as well as corporate overhead. |