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Quarterly Results of Operations (Tables)
 12 Months Ended
Jun. 30, 2018
Quarterly Results of Operations (Unaudited)  
Schedule of selected unaudited quarterly financial information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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