Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.3.1.900
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]    
Revenue $ 87,161 $ 96,508
Operating costs and expenses:    
Direct course expenses 48,201 45,229
Advertising and sales expenses 20,293 21,491
Royalty expenses 5,446 6,280
General and administrative expenses 16,317 17,939
Total operating costs and expenses 90,257 90,939
Income (loss) from operations $ (3,096) 5,569
Other income (expense):    
Litigation settlement 1,300
Interest expense, net $ (7) (37)
Other income, net 392 593
Total other income 385 1,856
Income (loss) before income taxes (2,711) 7,425
Income tax expense (15) (60)
Net income (loss) $ (2,726) $ 7,365
Basic earnings (loss) per common share $ (0.12) $ 0.45
Diluted earnings (loss) per common share $ (0.12) $ 0.42
Basic weighted average common shares outstanding 21,846 15,688
Diluted weighted average common shares outstanding 21,846 16,542
Comprehensive income (loss):    
Net income (loss) $ (2,726) $ 7,365
Foreign currency translation adjustments 1,310 1,176
Total comprehensive income (loss) $ (1,416) $ 8,541