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Unaudited Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 45,609 $ 57,137
Tuition receivable, net of allowances for doubtful accounts of $7,279 and $7,373 at December 31, 2011 and September 30, 2012, respectively 24,109 25,006
Income taxes receivable 7,964 394
Other current assets 14,255 12,131
Total current assets 91,937 94,668
Property and equipment, net 122,620 121,149
Deferred income taxes 5,615 3,326
Goodwill 6,800 6,800
Other assets 4,642 5,190
Total assets 231,614 231,133
Current liabilities:    
Accounts payable and accrued expenses 40,362 34,039
Unearned tuition 1,163 15,364
Other current liabilities 281 281
Current portion of term loan 30,000 27,500
Total current liabilities 71,806 77,184
Revolving credit facility 25,000 20,000
Term loan, less current portion 47,500 70,000
Other long-term liabilities 22,315 21,656
Total liabilities 166,621 188,840
Commitments and contingencies      
Stockholders’ equity:    
Common stock, par value $0.01; 20,000,000 shares authorized; 11,792,456 and 11,873,156 shares issued and outstanding at December 31, 2011 and September 30, 2012, respectively 119 118
Additional paid-in capital 9,234 295
Retained earnings 56,185 42,491
Accumulated other comprehensive income (loss) (545) (611)
Total stockholders’ equity 64,993 42,293
Total liabilities and stockholders’ equity $ 231,614 $ 231,133