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v3.10.0.1

Consolidated Income Statements (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017
Net revenue | $ 155,454 | $ 236,209 | $ 667,953 | $ 702,716
Costs and expenses: |  |  |  |
Technology and academic services | 11,101 | 10,494 | 32,476 | 31,095
Counseling services and support | 51,116 | 46,100 | 152,701 | 138,382
Marketing and communication | 31,546 | 28,130 | 90,168 | 82,865
General and administrative | 10,092 | 8,343 | 23,273 | 21,182
University related expenses | 6,569 | 83,450 | 173,735 | 237,784
Loss on Transaction | 15,610 |  | 17,600 |
Total costs and expenses | 126,034 | 176,517 | 489,953 | 511,308
Operating income | 29,420 | 59,692 | 178,000 | 191,408
Interest income on Secured Note | 13,248 |  | 13,248 |
Interest expense | (558) | (567) | (961) | (1,642)
Investment interest and other | 371 | 1,445 | 2,919 | 2,186
Income before income taxes | 42,481 | 60,570 | 193,206 | 191,952
Income tax expense | 8,720 | 21,266 | 39,726 | 56,889
Net income | $ 33,761 | $ 39,304 | $ 153,480 | $ 135,063
Earnings per share: |  |  |  |
Basic income per share | $ 0.71 | $ 0.83 | $ 3.22 | $ 2.87
Diluted income per share | $ 0.70 | $ 0.81 | $ 3.17 | $ 2.80
Basic weighted average shares outstanding | 47,682 | 47,316 | 47,592 | 47,083
Diluted weighted average shares outstanding | 48,422 | 48,292 | 48,429 | 48,197
Service [Member] |  |  |  |
Net revenue | $ 155,454 |  | $ 155,454 |
University Related Revenue [Member] |  |  |  |
Net revenue |  | $ 236,209 | $ 512,499 | $ 702,716

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