XML 52 R36.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2011
Quarterly Results of Operations [Abstract] |
Summarizes the unaudited quarterly results of operations |
|  |  | September 30, |  |  |  | September 30, |  |  |  | September 30, |  |  |  | September 30, |
|  | 2011 |
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Net revenue |  | $ | 101,709 |  |  | $ | 103,118 |  |  | $ | 108,909 |  |  | $ | 113,005 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instructional costs and services |  |  | 48,875 |  |  |  | 46,354 |  |  |  | 48,933 |  |  |  | 50,639 |
Selling and promotional |  |  | 29,832 |  |  |  | 27,709 |  |  |  | 31,248 |  |  |  | 31,166 |
General and administrative |  |  | 6,832 |  |  |  | 7,038 |  |  |  | 7,145 |  |  |  | 8,028 |
Lease termination costs |  |  | — |  |  |  | — |  |  |  | 922 |  |  |  | (140 | )
Total costs and expenses |  |  | 85,539 |  |  |  | 81,101 |  |  |  | 88,248 |  |  |  | 89,693 |
Operating income |  |  | 16,170 |  |  |  | 22,017 |  |  |  | 20,661 |  |  |  | 23,312 |
Net interest expense |  |  | (75 | ) |  |  | (3 | ) |  |  | (150 | ) |  |  | (404 | )
Income before income taxes |  |  | 16,095 |  |  |  | 22,014 |  |  |  | 20,511 |  |  |  | 22,908 |
Income tax expense |  |  | 6,614 |  |  |  | 9,141 |  |  |  | 7,643 |  |  |  | 7,584 |
Net income |  | $ | 9,481 |  |  | $ | 12,873 |  |  | $ | 12,868 |  |  | $ | 15,324 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic income per share(1) |  | $ | 0.21 |  |  | $ | 0.29 |  |  | $ | 0.29 |  |  | $ | 0.35 |
Diluted income per share(1) |  | $ | 0.21 |  |  | $ | 0.29 |  |  | $ | 0.29 |  |  | $ | 0.34 |
Basic weighted average shares outstanding |  |  | 45,590 |  |  |  | 44,658 |  |  |  | 44,302 |  |  |  | 44,317 |
Diluted weighted average shares outstanding |  |  | 46,089 |  |  |  | 45,018 |  |  |  | 44,787 |  |  |  | 44,868 |
(1) | The sum of quarterly income per share may not equal annual income per share due to rounding.
|  |  | September 30, |  |  |  | September 30, |  |  |  | September 30, |  |  |  | September 30, |
|  | 2010 |
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Net revenue |  | $ | 89,326 |  |  | $ | 97,322 |  |  | $ | 98,946 |  |  | $ | 100,031 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instructional costs and services |  |  | 36,660 |  |  |  | 51,032 |  |  |  | 45,717 |  |  |  | 45,435 |
Selling and promotional |  |  | 26,876 |  |  |  | 28,976 |  |  |  | 28,103 |  |  |  | 28,538 |
General and administrative |  |  | 6,104 |  |  |  | 6,176 |  |  |  | 6,608 |  |  |  | 7,733 |
Contract termination fees with a related party |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,233 |
Exit costs |  |  | 89 |  |  |  | 116 |  |  |  | 27 |  |  |  | 26 |
Total costs and expenses |  |  | 69,729 |  |  |  | 86,300 |  |  |  | 80,455 |  |  |  | 90,965 |
Operating income |  |  | 19,597 |  |  |  | 11,022 |  |  |  | 18,491 |  |  |  | 9,066 |
Net interest expense |  |  | (283 | ) |  |  | (125 | ) |  |  | (143 | ) |  |  | (170 | )
Income before income taxes |  |  | 19,314 |  |  |  | 10,897 |  |  |  | 18,348 |  |  |  | 8,896 |
Income tax expense |  |  | 7,834 |  |  |  | 4,163 |  |  |  | 7,606 |  |  |  | 2,646 |
Net income |  | $ | 11,480 |  |  | $ | 6,734 |  |  | $ | 10,742 |  |  | $ | 6,250 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic income per share(1) |  | $ | 0.25 |  |  | $ | 0.15 |  |  | $ | 0.23 |  |  | $ | 0.14 |
Diluted income per share(1) |  | $ | 0.25 |  |  | $ | 0.14 |  |  | $ | 0.23 |  |  | $ | 0.13 |
Basic weighted average shares outstanding |  |  | 45,674 |  |  |  | 45,724 |  |  |  | 45,746 |  |  |  | 45,743 |
Diluted weighted average shares outstanding |  |  | 46,325 |  |  |  | 46,557 |  |  |  | 46,351 |  |  |  | 46,346 |
(1) | The sum of quarterly income per share may not equal annual income per share due to rounding.

X
- Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 270 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph (a)-(j) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration