Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)

v3.3.0.814
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement [Abstract]        
Revenue $ 22,488 $ 22,543 $ 66,867 $ 74,957
Operating costs and expenses:        
Direct course expenses 13,032 11,292 37,012 34,006
Advertising and sales expenses 5,319 5,767 15,889 16,835
Royalty expenses 1,268 1,495 4,103 5,479
General and administrative expenses 4,070 4,523 12,901 12,842
Total operating costs and expenses 23,689 23,077 69,905 69,162
Income (loss) from operations $ (1,201) $ (534) $ (3,038) 5,795
Other income (expense):        
Litigation settlement 1,300
Interest expense, net $ (1) $ (3) $ (5) (30)
Other income, net 243 170 515 378
Total other income 242 167 510 1,648
Income (loss) before income taxes (959) (367) (2,528) 7,443
Income tax (expense) benefit (8) 5 (29) (33)
Net income (loss) $ (967) $ (362) $ (2,557) $ 7,410
Basic earnings (loss) per common share $ (0.04) $ (0.02) $ (0.12) $ 0.50
Diluted earnings (loss) per common share $ (0.04) $ (0.02) $ (0.12) $ 0.47
Basic weighted average common shares outstanding 21,407 15,978 20,938 14,911
Diluted weighted average common shares outstanding 21,407 15,978 20,938 15,878
Comprehensive income (loss):        
Net income (loss) $ (967) $ (362) $ (2,557) $ 7,410
Foreign currency translation adjustment 811 877 695 455
Total comprehensive income (loss) $ (156) $ 515 $ (1,862) $ 7,865