XML 14 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues $ 81,777 $ 77,122 $ 246,542 $ 227,516
Costs and expenses:        
Instructional costs and services 28,139 26,436 83,751 80,538
Selling and promotional 15,989 14,430 48,573 43,276
General and administrative 16,766 15,978 51,403 48,191
Depreciation and amortization 3,376 2,760 9,895 8,131
Total costs and expenses 64,270 59,604 193,622 180,136
Income from operations before interest income and income taxes 17,507 17,518 52,920 47,380
Interest income, net 77 30 230 17
Income before income taxes 17,584 17,548 53,150 47,397
Income tax expense 6,612 6,724 20,006 18,249
Equity investment loss, net of taxes (61)   (107)  
Net income $ 10,911 $ 10,824 $ 33,037 $ 29,148
Net Income per common share:        
Basic $ 0.62 $ 0.61 $ 1.87 $ 1.64
Diluted $ 0.61 $ 0.60 $ 1.84 $ 1.61
Weighted average number of common shares:        
Basic 17,658,317 17,706,088 17,689,055 17,823,508
Diluted 17,876,747 17,950,524 17,942,798 18,103,996