Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income

v2.4.1.9
Consolidated Statements of Operations and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Income Statement [Abstract]    
Revenue $ 96,508us-gaap_Revenues $ 85,118us-gaap_Revenues
Operating costs and expenses    
Direct course expenses 45,229us-gaap_DirectOperatingCosts 40,488us-gaap_DirectOperatingCosts
Advertising and sales expenses 22,249us-gaap_SellingAndMarketingExpense 21,592us-gaap_SellingAndMarketingExpense
Royalty expenses 6,280us-gaap_RoyaltyExpense 6,812us-gaap_RoyaltyExpense
General and administrative expenses 17,181us-gaap_GeneralAndAdministrativeExpense 13,828us-gaap_GeneralAndAdministrativeExpense
Total operating costs and expenses 90,939us-gaap_OperatingCostsAndExpenses 82,720us-gaap_OperatingCostsAndExpenses
Income from operations 5,569us-gaap_OperatingIncomeLoss 2,398us-gaap_OperatingIncomeLoss
Other income (expense):    
Litigation settlement 1,300us-gaap_LitigationSettlementAmount   
Forgiveness of debt    1,652us-gaap_DebtInstrumentDecreaseForgiveness
Interest income 7us-gaap_InvestmentIncomeInterest 18us-gaap_InvestmentIncomeInterest
Interest expense (44)us-gaap_InterestExpense (182)us-gaap_InterestExpense
Other income, net 593us-gaap_OtherNonoperatingIncomeExpense 533us-gaap_OtherNonoperatingIncomeExpense
Total other income 1,856us-gaap_NonoperatingIncomeExpense 2,021us-gaap_NonoperatingIncomeExpense
Income before income taxes 7,425us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 4,419us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax (provision) benefit (60)us-gaap_IncomeTaxExpenseBenefit 435us-gaap_IncomeTaxExpenseBenefit
Net income from continuing operations 7,365us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 4,854us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations:    
Loss from discontinued operations    (131)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Loss on disposal of discontinued operations    (394)us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Total loss from discontinued operations    (525)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
Net income 7,365us-gaap_NetIncomeLoss 4,329us-gaap_NetIncomeLoss
Basic and diluted net income (loss) per share:    
From continuing operations $ 0.45us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ 0.33us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
From discontinued operations    $ (0.04)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
Total basic and diluted net income per share $ 0.45us-gaap_EarningsPerShareBasicAndDiluted $ 0.29us-gaap_EarningsPerShareBasicAndDiluted
Basic and diluted weighted average common shares outstanding 16,542us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 14,773us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
Comprehensive income:    
Net income 7,365us-gaap_NetIncomeLoss 4,329us-gaap_NetIncomeLoss
Foreign currency translation adjustment 1,176us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent 124us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
Total comprehensive income $ 8,541us-gaap_ComprehensiveIncomeNetOfTax $ 4,453us-gaap_ComprehensiveIncomeNetOfTax