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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Jun. 30, 2018
Quarterly Results of Operations (Unaudited) |
Quarterly Results of Operations (Unaudited) | 18. Quarterly Results of Operations (Unaudited) The unaudited consolidated interim financial information presented should be read in conjunction with other information included in the Company’s consolidated financial statements. The following unaudited consolidated financial information reflects all adjustments necessary for the fair presentation of the results of interim periods. The following tables set forth selected unaudited quarterly financial information for each of the Company’s last eight quarters.
|  | Fiscal Year 2018
|  | Jun 30, |  | Mar 31, |  | Dec 31, |  | Sep 30,
|  | 2018 |  | 2018 |  | 2017 |  | 2017
|  | (In thousands)
Consolidated Quarterly Statements of Operations |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 238,874 |  | $ | 232,864 |  | $ | 217,211 |  | $ | 228,785
Cost and expenses |  |  |  |  |  |  |  |  |  |  |  |
Instructional costs and services |  |  | 157,087 |  |  | 148,878 |  |  | 139,163 |  |  | 147,367
Selling, administrative and other operating expenses |  |  | 69,939 |  |  | 62,267 |  |  | 61,958 |  |  | 96,282
Product development expenses |  |  | 1,972 |  |  | 2,002 |  |  | 2,376 |  |  | 2,898
Total costs and expenses |  |  | 228,998 |  |  | 213,147 |  |  | 203,497 |  |  | 246,547
Income (loss) from operations |  |  | 9,876 |  |  | 19,717 |  |  | 13,714 |  |  | (17,762)
Interest income, net |  |  | 430 |  |  | 261 |  |  | 39 |  |  | 235
Income (loss) before income taxes and noncontrolling interest |  |  | 10,306 |  |  | 19,978 |  |  | 13,753 |  |  | (17,527)
Income tax benefit (expense) |  |  | (959) |  |  | (6,935) |  |  | (564) |  |  | 9,368
Net income (loss) |  |  | 9,347 |  |  | 13,043 |  |  | 13,189 |  |  | (8,159)
Add net loss attributable to noncontrolling interest |  |  | — |  |  | 27 |  |  | 70 |  |  | 103
Net income (loss) attributable to common stockholders |  | $ | 9,347 |  | $ | 13,070 |  | $ | 13,259 |  | $ | (8,056)
Net income (loss) attributable to common stockholders per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.24 |  | $ | 0.33 |  | $ | 0.34 |  | $ | (0.21)
Diluted |  | $ | 0.23 |  | $ | 0.32 |  | $ | 0.33 |  | $ | (0.21)
Weighted average shares used in computing per share amounts: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 39,031,207 |  |  | 39,644,074 |  |  | 39,347,244 |  |  | 39,108,172
Diluted |  |  | 39,976,593 |  |  | 40,766,203 |  |  | 40,685,667 |  |  | 39,108,172
|  | Fiscal Year 2017
|  | Jun 30, |  | Mar 31, |  | Dec 31, |  | Sep 30,
|  | 2017 |  | 2017 |  | 2016 |  | 2016
|  | (In thousands)
Consolidated Quarterly Statements of Operations |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 215,758 |  | $ | 222,533 |  | $ | 221,090 |  | $ | 229,138
Cost and expenses |  |  |  |  |  |  |  |  |  |  |  |
Instructional costs and services |  |  | 139,244 |  |  | 136,431 |  |  | 137,542 |  |  | 144,099
Selling, administrative and other operating expenses |  |  | 68,791 |  |  | 69,828 |  |  | 62,352 |  |  | 104,646
Product development expenses |  |  | 3,011 |  |  | 3,511 |  |  | 2,873 |  |  | 3,062
Total costs and expenses |  |  | 211,046 |  |  | 209,770 |  |  | 202,767 |  |  | 251,807
Income (loss) from operations |  |  | 4,712 |  |  | 12,763 |  |  | 18,323 |  |  | (22,669)
Impairment of investment in Web International Education Group, Ltd. |  |  | (10,000) |  |  | — |  |  | — |  |  | —
Interest income, net |  |  | 561 |  |  | 641 |  |  | 264 |  |  | 342
Income (loss) before income taxes and noncontrolling interest |  |  | (4,727) |  |  | 13,404 |  |  | 18,587 |  |  | (22,327)
Income tax benefit (expense) |  |  | (1,876) |  |  | (4,522) |  |  | (7,688) |  |  | 8,690
Net income (loss) |  |  | (6,603) |  |  | 8,882 |  |  | 10,899 |  |  | (13,637)
Add net (income) loss attributable to noncontrolling interest |  |  | 120 |  |  | 233 |  |  | 753 |  |  | (196)
Net income (loss) attributable to common stockholders |  | $ | (6,483) |  | $ | 9,115 |  | $ | 11,652 |  | $ | (13,833)
Net income (loss) attributable to common stockholders per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.17) |  | $ | 0.24 |  | $ | 0.31 |  | $ | (0.36)
Diluted |  | $ | (0.17) |  | $ | 0.23 |  | $ | 0.30 |  | $ | (0.36)
Weighted average shares used in computing per share amounts: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 38,757,312 |  |  | 38,376,984 |  |  | 38,104,909 |  |  | 37,938,705
Diluted |  |  | 38,757,312 |  |  | 39,328,127 |  |  | 39,007,276 |  |  | 37,938,705

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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