XML 17 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Unaudited Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUE:        
Tuition and registration fees $ 166,819 $ 202,179 $ 546,036 $ 643,617
Other 806 1,305 3,101 3,709
Total revenue 167,625 203,484 549,137 647,326
OPERATING EXPENSES:        
Educational services and facilities 51,393 74,888 170,993 222,846
General and administrative 111,723 133,177 337,358 442,021
Depreciation and amortization 5,215 5,962 16,986 19,861
Asset impairment   33,446 237 50,837
Total operating expenses 168,331 247,473 525,574 735,565
Operating (loss) income (706) (43,989) 23,563 (88,239)
OTHER INCOME (EXPENSE):        
Interest income 334 164 900 548
Interest expense (117) (170) (469) (502)
Loss on sale of business   (715)   (1,632)
Miscellaneous income (expense) 10 54 (4) (321)
Total other income (expense) 227 (667) 427 (1,907)
PRETAX (LOSS) INCOME (479) (44,656) 23,990 (90,146)
Provision for (benefit from) income taxes 21 35 8,776 (923)
(LOSS) INCOME FROM CONTINUING OPERATIONS (500) (44,691) 15,214 (89,223)
LOSS FROM DISCONTINUED OPERATIONS, net of tax (186) (544) (1,050) (1,616)
NET (LOSS) INCOME (686) (45,235) 14,164 (90,839)
OTHER COMPREHENSIVE INCOME, net of tax:        
Foreign currency translation adjustments 47   143  
Unrealized gains on investments 370 81 824 233
Total other comprehensive income 417 81 967 233
COMPREHENSIVE (LOSS) INCOME $ (269) $ (45,154) $ 15,131 $ (90,606)
NET (LOSS) INCOME PER SHARE - BASIC and DILUTED:        
(Loss) income from continuing operations $ (0.01) $ (0.66) $ 0.22 $ (1.32)
Loss from discontinued operations   (0.01) (0.01) (0.02)
Net (loss) income per share $ (0.01) $ (0.67) $ 0.21 $ (1.34)
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Basic 68,460 [1] 67,961 [1] 68,328 67,798 [1]
Diluted 68,460 [1] 67,961 [1] 68,889 67,798 [1]
[1] Due to the fact that we reported a loss from continuing operations for the quarters ended September 30, 2015 and 2016, and year to date ended September 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 quarters ended September 30, 2015 and 2016, and year to date ended September 30, 2015.