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v2.4.0.8

Consolidated Income Statements (USD $) In Thousands, except Per Share data, unless otherwise specified | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012
Income Statement [Abstract] |  |  |  |
Net revenue | $ 141,463 | $ 119,260 | $ 283,493 | $ 236,391
Costs and expenses: |  |  |  |
Instructional costs and services | 61,747 | 53,406 | 121,744 | 104,230
Admissions advisory and related, including $867 and $589 for the three months ended June 30, 2013 and 2012, respectively, and $1,621 and $1,021 for the six months ended June 30, 2013 and 2012, respectively, to related parties | 23,346 | 20,369 | 46,339 | 40,360
Advertising, including $0 and $5 for the three months ended June 30, 2013 and 2012, respectively, and $0 and $20 for the six months ended June 30, 2013 and 2012, respectively, to related parties | 14,520 | 11,467 | 30,449 | 25,106
Marketing and promotional | 1,383 | 919 | 2,818 | 1,848
General and administrative | 8,978 | 7,701 | 17,029 | 15,245
Total costs and expenses | 109,974 | 93,862 | 218,379 | 186,789
Operating income | 31,489 | 25,398 | 65,114 | 49,602
Interest expense | (439) | (78) | (1,107) | (285)
Interest and other income | 62 | 26 | 2,257 | 36
Income before income taxes | 31,112 | 25,346 | 66,264 | 49,353
Income tax expense | 12,048 | 9,748 | 26,255 | 19,286
Net income | $ 19,064 | $ 15,598 | $ 40,009 | $ 30,067
Earnings per share: |  |  |  |
Basic income per share | $ 0.43 | $ 0.35 | $ 0.90 | $ 0.68
Diluted income per share | $ 0.42 | $ 0.35 | $ 0.88 | $ 0.67
Basic weighted average shares outstanding | 44,681 | 44,447 | 44,463 | 44,410
Diluted weighted average shares outstanding | 45,929 | 45,169 | 45,690 | 45,161

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- Definition Costs directly attributable to educational services, including salaries and benefits for full-time faculty, administrators and academic advisors, and costs associated with adjunct faculty. Also includes costs for educational supplies such as books, costs associated with academic records and graduation, costs associated with collections from our students such as bad debt expense, and other university services such as evaluating transcripts. + References No definition available. + Details
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