Quarterly Results of Operations (Tables)

12 Months Ended

Jun. 30, 2019

Quarterly Results of Operations (Unaudited)

Schedule of selected unaudited quarterly financial information

	Fiscal Year 2019
	Jun 30,		Mar 31,		Dec 31,		Sep 30,
	2019		2019		2018		2018
	(In thousands)
Consolidated Quarterly Statements of Operations
Revenues	$	256,314	$	253,252	$	254,872	$	251,314
Cost and expenses
Instructional costs and services		175,863		168,260		160,329		158,985
Selling, administrative and other operating expenses		75,207		59,382		60,183		102,578
Product development expenses		2,563		2,343		1,070		3,503
Total costs and expenses		253,633		229,985		221,582		265,066
Income (loss) from operations		2,681		23,267		33,290		(13,752)
Interest income, net		1,214		754		477		316
Other income (expense), net		154		556		(789)		193
Income (loss) before income taxes, loss from equity method investments and noncontrolling interest		4,049		24,577		32,978		(13,243)
Income tax (expense) benefit		(662)		(5,842)		(9,074)		5,058
Loss from equity method investments		(70)		(273)		(192)		(97)
Net income (loss) attributable to common stockholders	$	3,317	$	18,462	$	23,712	$	(8,282)
Net income (loss) attributable to common stockholders per share:
Basic	$	0.08	$	0.47	$	0.61	$	(0.22)
Diluted	$	0.08	$	0.44	$	0.59	$	(0.22)
Weighted average shares used in computing per share amounts:
Basic		39,135,413		39,008,990		38,816,669		38,434,049
Diluted		41,667,000		41,753,323		40,325,260		38,434,049

	Fiscal Year 2018
	Jun 30,		Mar 31,		Dec 31,		Sep 30,
	2018		2018		2017		2017
	(In thousands)
Consolidated Quarterly Statements of Operations
Revenues	$	238,874	$	232,864	$	217,211	$	228,785
Cost and expenses
Instructional costs and services		157,087		148,878		139,163		147,367
Selling, administrative and other operating expenses		69,939		62,267		61,958		96,282
Product development expenses		1,972		2,002		2,376		2,898
Total costs and expenses		228,998		213,147		203,497		246,547
Income (loss) from operations		9,876		19,717		13,714		(17,762)
Interest income, net		430		261		39		235
Income (loss) before income taxes and noncontrolling interest		10,306		19,978		13,753		(17,527)
Income tax (expense) benefit		(959)		(6,935)		(564)		9,368
Net income (loss)		9,347		13,043		13,189		(8,159)
Add net loss attributable to noncontrolling interest		—		27		70		103
Net income (loss) attributable to common stockholders	$	9,347	$	13,070	$	13,259	$	(8,056)
Net income (loss) attributable to common stockholders per share:
Basic	$	0.24	$	0.33	$	0.34	$	(0.21)
Diluted	$	0.23	$	0.32	$	0.33	$	(0.21)
Weighted average shares used in computing per share amounts:
Basic		39,031,207		39,644,074		39,347,244		39,108,172
Diluted		39,976,593		40,766,203		40,685,667		39,108,172