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Consolidated Income Statements - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net revenue $ 193,289 $ 155,454 $ 565,396 $ 667,953
Costs and expenses:        
Technology and academic services 24,231 11,101 65,384 32,476
Counseling services and support 56,249 51,116 163,641 152,701
Marketing and communication 37,340 31,546 109,033 90,168
General and administrative 13,556 10,092 34,169 23,273
Amortization of intangible assets 2,179   6,044  
University related expenses   6,569   173,735
Loss on transaction   15,610 3,966 17,600
Total costs and expenses 133,555 126,034 382,237 489,953
Operating income 59,734 29,420 183,159 178,000
Interest income on Secured Note 16,208 13,248 44,425 13,248
Interest expense (2,875) (558) (8,368) (961)
Investment interest and other 255 371 4,042 2,919
Income before income taxes 73,322 42,481 223,258 193,206
Income tax expense 15,171 8,720 40,752 39,726
Net income $ 58,151 $ 33,761 $ 182,506 $ 153,480
Earnings per share:        
Basic income per share $ 1.21 $ 0.71 $ 3.82 $ 3.22
Diluted income per share $ 1.20 $ 0.70 $ 3.78 $ 3.17
Basic weighted average shares outstanding 47,920 47,682 47,833 47,592
Diluted weighted average shares outstanding 48,337 48,422 48,317 48,429
Service [Member]        
Net revenue $ 193,289 $ 155,454 $ 565,396 $ 155,454
University Related Revenue [Member]        
Net revenue       $ 512,499