Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.2.0.727
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Income Statement [Abstract]        
Revenue $ 22,636 $ 25,775 $ 44,379 $ 52,414
Operating costs and expenses:        
Direct course expenses 12,446 11,047 23,980 22,714
Advertising and sales expenses 5,413 5,467 10,570 11,068
Royalty expenses 1,634 1,793 2,835 3,984
General and administrative expenses 4,269 4,493 8,831 8,319
Total operating costs and expenses 23,762 22,800 46,216 46,085
Income (loss) from operations $ (1,126) $ 2,975 $ (1,837) 6,329
Other income (expense):        
Litigation settlement       1,300
Interest expense, net $ (1) $ (1) $ (3) (28)
Other income, net 158 87 271 209
Total other income 157 86 268 1,481
Income (loss) before income taxes (969) 3,061 (1,569) 7,810
Income tax expense (10) (25) (21) (38)
Net income (loss) $ (979) $ 3,036 $ (1,590) $ 7,772
Basic and diluted earnings (loss) per common share $ (0.05) $ 0.19 $ (0.08) $ 0.49
Basic and diluted weighted average common shares outstanding 20,193 15,978 20,096 15,999
Comprehensive income (loss):        
Net income (loss) $ (979) $ 3,036 $ (1,590) $ 7,772
Foreign currency translation adjustment (1,144) (464) (116) (422)
Total comprehensive income (loss) $ (2,123) $ 2,572 $ (1,706) $ 7,350