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Unaudited Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUE:        
Tuition and registration fees $ 181,432 $ 215,747 $ 379,217 $ 441,438
Other 1,194 1,081 2,295 2,404
Total revenue 182,626 216,828 381,512 443,842
OPERATING EXPENSES:        
Educational services and facilities 58,062 73,064 119,600 147,958
General and administrative 102,072 145,171 225,635 308,844
Depreciation and amortization 5,202 7,113 11,771 13,899
Asset impairment   11,372 237 17,391
Total operating expenses 165,336 236,720 357,243 488,092
Operating income (loss) 17,290 (19,892) 24,269 (44,250)
OTHER INCOME (EXPENSE):        
Interest income 301 224 566 384
Interest expense (116) (170) (352) (332)
Loss on sale of business   (917)   (917)
Miscellaneous (expense) income (231) 5 (14) (375)
Total other (expense) income (46) (858) 200 (1,240)
PRETAX INCOME (LOSS) 17,244 (20,750) 24,469 (45,490)
Provision for (benefit from) income taxes 4,620 (747) 8,755 (958)
INCOME (LOSS) FROM CONTINUING OPERATIONS 12,624 (20,003) 15,714 (44,532)
LOSS FROM DISCONTINUED OPERATIONS, net of tax (785) (720) (864) (1,072)
NET INCOME (LOSS) 11,839 (20,723) 14,850 (45,604)
OTHER COMPREHENSIVE INCOME (LOSS), net of tax:        
Foreign currency translation adjustments (97)   96  
Unrealized gains (losses) on investments 131 (43) 454 152
Total other comprehensive income (loss) 34 (43) 550 152
COMPREHENSIVE INCOME (LOSS) $ 11,873 $ (20,766) $ 15,400 $ (45,452)
NET INCOME (LOSS) PER SHARE - BASIC and DILUTED:        
Income (loss) from continuing operations $ 0.18 $ (0.29) $ 0.23 $ (0.66)
Loss from discontinued operations (0.01) (0.02) (0.01) (0.01)
Net income (loss) per share $ 0.17 $ (0.31) $ 0.22 $ (0.67)
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Basic 68,368 67,893 [1] 68,261 67,714 [1]
Diluted 69,015 67,893 [1] 68,627 67,714 [1]
[1] Due to the fact that we reported a loss from continuing operations for the quarter and year to date ended June 30, 2015, potential common stock equivalents are excluded from the diluted common shares outstanding calculation. Per FASB ASC Topic 260 – Earnings Per Share, an entity that reports discontinued operations shall use income or loss from continuing operations as the benchmark for calculating diluted common shares outstanding, and as such, we have zero common stock equivalents since these shares would have an anti-dilutive effect on our net loss per share for the quarter and year to date ended June 30, 2015.