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Consolidated Income Statements - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Consolidated Income Statements        
Net revenue $ 185,768 $ 174,820 $ 407,423 $ 372,107
Costs and expenses:        
Technology and academic services 27,151 22,528 53,428 41,153
Counseling services and support 57,596 54,299 117,815 107,392
Marketing and communication 41,105 35,726 83,798 71,693
General and administrative 9,501 9,216 19,066 20,613
Amortization of intangible assets 2,105 2,179 4,210 3,865
Loss on transaction   (122)   3,966
Total costs and expenses 137,458 123,826 278,317 248,682
Operating income 48,310 50,994 129,106 123,425
Interest income on Secured Note 14,723 14,482 29,433 28,217
Interest expense (1,073) (2,907) (2,619) (5,493)
Investment interest and other 396 2,668 612 3,787
Income before income taxes 62,356 65,237 156,532 149,936
Income tax expense 15,346 14,125 38,137 25,581
Net income $ 47,010 $ 51,112 $ 118,395 $ 124,355
Earnings per share:        
Basic income per share $ 1.00 $ 1.07 $ 2.51 $ 2.60
Diluted income per share $ 1.00 $ 1.06 $ 2.49 $ 2.57
Basic weighted average shares outstanding 46,893 47,851 47,174 47,788
Diluted weighted average shares outstanding 47,151 48,313 47,457 48,307