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Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2012
Summarizes the Unaudited Quarterly Results of Operations | The following table summarizes the unaudited quarterly results of operations for 2012 and 2011 and should be read in conjunction with other information included in the accompanying consolidated financial statements.
|  | 2012 |
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Net revenue |  | $ | 117,131 |  |  | $ | 119,260 |  |  | $ | 133,568 |  |  | $ | 141,298 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instructional costs and services |  |  | 50,824 |  |  |  | 53,406 |  |  |  | 57,354 |  |  |  | 58,819 |
Selling and promotional |  |  | 34,559 |  |  |  | 32,755 |  |  |  | 36,450 |  |  |  | 37,536 |
General and administrative |  |  | 7,544 |  |  |  | 7,701 |  |  |  | 8,561 |  |  |  | 11,696 |
Total costs and expenses |  |  | 92,927 |  |  |  | 93,862 |  |  |  | 102,365 |  |  |  | 108,051 |
Operating income |  |  | 24,204 |  |  |  | 25,398 |  |  |  | 31,203 |  |  |  | 33,247 |
Net interest expense |  |  | (197 | ) |  |  | (52 | ) |  |  | (138 | ) |  |  | (241 | )
Income before income taxes |  |  | 24,007 |  |  |  | 25,346 |  |  |  | 31,065 |  |  |  | 33,006 |
Income tax expense |  |  | 9,538 |  |  |  | 9,748 |  |  |  | 12,594 |  |  |  | 12,097 |
Net income |  | $ | 14,469 |  |  | $ | 15,598 |  |  | $ | 18,471 |  |  | $ | 20,909 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic income per share(1) |  | $ | 0.33 |  |  | $ | 0.35 |  |  | $ | 0.42 |  |  | $ | 0.47 |
Diluted income per share(1) |  | $ | 0.32 |  |  | $ | 0.35 |  |  | $ | 0.41 |  |  | $ | 0.46 |
Basic weighted average shares outstanding |  |  | 44,371 |  |  |  | 44,447 |  |  |  | 44,365 |  |  |  | 44,167 |
Diluted weighted average shares outstanding |  |  | 45,151 |  |  |  | 45,169 |  |  |  | 45,339 |  |  |  | 45,364 |
(1) | The sum of quarterly income per share may not equal annual income per share due to rounding.
|  | 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.

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 + Details
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