Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.2.0.727
Segment Information
6 Months Ended
Jun. 30, 2015
Segment Information [Abstract]  
Segment Information

Note 8 - Segment Information

 

We manage our business in four segments based on geographic location for which operating managers are responsible to the Chief Operations Officer. In accordance with the provisions of ASC 280, “Segment Reporting ,” our chief operating decision-maker has been identified as our Chief Operating Officer, who reviews our operating results along with other members of our executive team of these four segments in order to make decisions about allocating resources and assessing performance for the entire company.

  

The proportion of our total revenue attributable to each segment is as follows:

 

    Three months ended 
June 30,
    Six months ended 
June 30,
 
    2015     2014     2015      2014  
    (In thousands)     (In thousands)  
As a percentage of total revenue                        
United States     64.9 %     75.8 %     67.9 %     75.5 %
Canada     8.3 %     6.5 %     7.6 %     6.5 %
U.K.     19.4 %     16.1 %     19.0 %     16.4 %
Other foreign markets     7.4 %     1.6 %     5.5 %     1.6 %
Total consolidated revenue     100.0 %     100.0 %     100.0 %     100.0 %

 

Operating results for the segments are as follows:

 

    Three months ended 
June 30,
    Six months ended 
June 30,
 
    2015     2014     2015      2014  
    (In thousands)     (In thousands)  
Segment revenue                        
United States   $ 14,687     $ 19,525     $ 30,121     $ 39,571  
Canada     1,890       1,678       3,358       3,418  
U.K.     4,381       4,141       8,456       8,596  
Other foreign markets     1,678       431       2,444       829  
Total consolidated revenue   $ 22,636     $ 25,775     $ 44,379     $ 52,414  

 

    Three months ended 
June 30,
    Six months ended 
June 30,
 
    2015      2014     2015     2014  
    (In thousands)      (In thousands)  
Segment gross profit contribution *                        
United States   $ 2,975     $ 6,199     $ 7,557     $ 12,844  
Canada     635       348       924       314  
U.K.     402       652       686       1,069  
Other foreign markets     (869 )     39       (2,173 )     191  
Total consolidated gross profit   $ 3,143     $ 7,238     $ 6,994     $ 14,418  

 

* Segment gross profit is calculated as revenue less direct course expenses, advertising and sales expenses and royalty expense.

  

    Three months ended 
June 30,
    Six months ended 
June 30,
 
    2015     2014     2015     2014  
    (In thousands)     (In thousands)  
Depreciation and amortization expenses                        
United States   $ 39     $ 50     $ 82     $ 99  
Canada     1       1       2       1  
U.K.     6       6       13       11  
Other foreign markets     -       -       -       -  
Total consolidated depreciation and amortization expenses   $ 46     $ 57     $ 97     $ 111  

 

    June 30,
2015
    December 31, 
2014
 
     (In thousands)  
Segment identifiable assets            
United States   $ 10,926     $ 10,999  
Canada     962       1,334  
U.K.     5,491       4,518  
Other foreign markets     3,157       876  
Total consolidated identifiable assets   $ 20,536     $ 17,727