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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Jun. 30, 2020
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 2020
​ | ​ | Jun 30, | ​ | Mar 31, | ​ | Dec 31, | ​ | Sep 30,
​ |  | 2020 |  | 2020 |  | 2019 |  | 2019
​ | ​ | (In thousands)
Consolidated Quarterly Statements of Operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues | ​ | $ | 268,931 | ​ | $ | 257,154 | ​ | $ | 257,559 | ​ | $ | 257,121
Instructional costs and services | ​ |  | 177,436 | ​ |  | 178,968 | ​ |  | 167,470 | ​ |  | 169,358
Gross margin | ​ |  | 91,495 | ​ |  | 78,186 | ​ |  | 90,089 | ​ |  | 87,763
Selling, general, and administrative expenses | ​ |  | 84,454 | ​ |  | 63,687 | ​ |  | 59,784 | ​ |  | 107,151
Income (loss) from operations | ​ |  | 7,041 | ​ |  | 14,499 | ​ |  | 30,305 | ​ |  | (19,388)
Interest income (expense), net | ​ |  | (577) | ​ |  | (76) | ​ |  | 441 | ​ |  | 910
Other income (expense), net | ​ |  | 1,008 | ​ | ​ | (1,093) | ​ | ​ | 365 | ​ | ​ | (8)
Income (loss) before income taxes and loss from equity method investments | ​ |  | 7,472 | ​ |  | 13,330 | ​ |  | 31,111 | ​ |  | (18,486)
Income tax (expense) benefit | ​ |  | (2,548) | ​ |  | (4,419) | ​ |  | (10,392) | ​ |  | 8,818
Loss from equity method investments | ​ | ​ | (36) | ​ | ​ | (157) | ​ | ​ | (125) | ​ | ​ | (62)
Net income (loss) attributable to common stockholders | ​ | $ | 4,888 | ​ | $ | 8,754 | ​ | $ | 20,594 | ​ | $ | (9,730)
Net income (loss) attributable to common stockholders per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | $ | 0.12 | ​ | $ | 0.22 | ​ | $ | 0.52 | ​ | $ | (0.25)
Diluted | ​ | $ | 0.12 | ​ | $ | 0.22 | ​ | $ | 0.52 | ​ | $ | (0.25)
Weighted average shares used in computing per share amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ |  | 39,637,347 | ​ |  | 39,539,791 | ​ |  | 39,450,017 | ​ |  | 39,288,557
Diluted | ​ |  | 41,166,794 | ​ |  | 39,938,898 | ​ |  | 39,973,933 | ​ |  | 39,288,557
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal Year 2019
​ | ​ | Jun 30, | ​ | Mar 31, | ​ | Dec 31, | ​ | Sep 30,
​ |  | 2019 |  | 2019 |  | 2018 |  | 2018
​ | ​ | (In thousands)
Consolidated Quarterly Statements of Operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues | ​ | $ | 256,314 | ​ | $ | 253,252 | ​ | $ | 254,872 | ​ | $ | 251,314
Instructional costs and services | ​ | ​ | 175,863 | ​ | ​ | 168,260 | ​ | ​ | 160,329 | ​ | ​ | 158,985
Gross margin | ​ |  | 80,451 | ​ |  | 84,992 | ​ |  | 94,543 | ​ |  | 92,329
Selling, general, and administrative expenses | ​ |  | 77,770 | ​ |  | 61,725 | ​ |  | 61,253 | ​ |  | 106,081
Income (loss) from operations | ​ |  | 2,681 | ​ |  | 23,267 | ​ |  | 33,290 | ​ |  | (13,752)
Interest income, net | ​ |  | 1,214 | ​ |  | 754 | ​ |  | 477 | ​ |  | 316
Other income (expense), net | ​ | ​ | 154 | ​ | ​ | 556 | ​ | ​ | (789) | ​ | ​ | 193
Income (loss) before income taxes and loss from equity method investments | ​ |  | 4,049 | ​ |  | 24,577 | ​ |  | 32,978 | ​ |  | (13,243)
Income tax (expense) benefit | ​ |  | (662) | ​ |  | (5,842) | ​ |  | (9,074) | ​ |  | 5,058
Loss from equity method investments | ​ |  | (70) | ​ |  | (273) | ​ | ​ | (192) | ​ | ​ | (97)
Net income (loss) attributable to common stockholders | ​ | $ | 3,317 | ​ | $ | 18,462 | ​ | $ | 23,712 | ​ | $ | (8,282)
Net income attributable to common stockholders per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | $ | 0.08 | ​ | $ | 0.47 | ​ | $ | 0.61 | ​ | $ | (0.22)
Diluted | ​ | $ | 0.08 | ​ | $ | 0.44 | ​ | $ | 0.59 | ​ | $ | (0.22)
Weighted average shares used in computing per share amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ |  | 39,135,413 | ​ |  | 39,008,990 | ​ |  | 38,816,669 | ​ |  | 38,434,049
Diluted | ​ |  | 41,667,000 | ​ |  | 41,753,323 | ​ |  | 40,325,260 | ​ |  | 38,434,049
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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