XML 16 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Revenue $ 82,127,000 $ 70,560,000 $ 156,743,000 $ 144,001,000
Costs and expenses:        
Instructional costs and services 30,744,000 28,725,000 59,974,000 56,640,000
Selling and promotional 17,056,000 14,087,000 35,242,000 29,134,000
General and administrative 21,737,000 18,123,000 42,740,000 37,188,000
Loss on disposals of long-lived assets 158,000 4,000 324,000 130,000
Impairment of goodwill 0 0 0 5,855,000
Depreciation and amortization 3,391,000 3,943,000 6,729,000 7,994,000
Total costs and expenses 73,086,000 64,882,000 145,009,000 136,941,000
Income from operations before interest income and income taxes 9,041,000 5,678,000 11,734,000 7,060,000
Interest income, net 179,000 1,135,000 881,000 2,188,000
Income before income taxes 9,220,000 6,813,000 12,615,000 9,248,000
Income tax expense 2,532,000 1,898,000 3,506,000 1,835,000
Equity investment income (loss) 1,000 6,000 0 (1,481,000)
Net income $ 6,689,000 $ 4,921,000 $ 9,109,000 $ 5,932,000
Net income per common share:        
Basic (in dollars per share) $ 0.45 $ 0.30 $ 0.61 $ 0.36
Diluted (in dollars per share) $ 0.45 $ 0.30 $ 0.61 $ 0.36
Weighted average number of common shares:        
Basic (in shares) 14,789 16,512 14,907 16,522
Diluted (in shares) 14,948 16,653 15,026 16,671