| 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 Executive Officer. In accordance with the provisions of ASC 280, “Segment Reporting,” our chief operating decision-maker has been identified as our Chief Executive 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 Company.
The proportion of our total revenue attributable to each segment is as follows:
| |
|
Three months ended
September 30,
|
|
|
Nine months ended
September 30,
|
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| |
|
(In thousands) |
|
|
(In thousands) |
|
| As a percentage of total revenue |
|
|
|
|
|
|
|
|
|
|
|
|
| United States |
|
|
64.0 |
% |
|
|
70.2 |
% |
|
|
66.6 |
% |
|
|
74.0 |
% |
| Canada |
|
|
6.0 |
% |
|
|
6.8 |
% |
|
|
7.0 |
% |
|
|
6.5 |
% |
| U.K. |
|
|
22.2 |
% |
|
|
17.4 |
% |
|
|
20.1 |
% |
|
|
16.7 |
% |
| Other foreign markets |
|
|
7.8 |
% |
|
|
5.6 |
% |
|
|
6.3 |
% |
|
|
2.8 |
% |
| Total consolidated revenue |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
Operating results for the segments are as follows:
| |
|
Three months ended
September 30,
|
|
|
Nine months ended
September 30,
|
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| |
|
(In thousands) |
|
|
(In thousands) |
|
| Segment revenue |
|
|
|
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
14,400 |
|
|
$ |
15,820 |
|
|
$ |
44,521 |
|
|
$ |
55,464 |
|
| Canada |
|
|
1,340 |
|
|
|
1,523 |
|
|
|
4,698 |
|
|
|
4,869 |
|
| U.K. |
|
|
4,983 |
|
|
|
3,934 |
|
|
|
13,439 |
|
|
|
12,530 |
|
| Other foreign markets |
|
|
1,765 |
|
|
|
1,266 |
|
|
|
4,209 |
|
|
|
2,094 |
|
| Total consolidated revenue |
|
$ |
22,488 |
|
|
$ |
22,543 |
|
|
$ |
66,867 |
|
|
$ |
74,957 |
|
| |
|
Three months ended
September 30,
|
|
|
Nine months ended
September 30,
|
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| |
|
(In thousands) |
|
|
(In thousands) |
|
| Segment gross profit contribution * |
|
|
|
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
3,038 |
|
|
$ |
3,735 |
|
|
$ |
10,594 |
|
|
$ |
16,808 |
|
| Canada |
|
|
220 |
|
|
|
412 |
|
|
|
1,144 |
|
|
|
726 |
|
| U.K. |
|
|
754 |
|
|
|
210 |
|
|
|
1,441 |
|
|
|
1,279 |
|
| Other foreign markets |
|
|
(1,143 |
) |
|
|
(368 |
) |
|
|
(3,316 |
) |
|
|
(176 |
) |
| Total consolidated gross profit |
|
$ |
2,869 |
|
|
$ |
3,989 |
|
|
$ |
9,863 |
|
|
$ |
18,637 |
|
| * |
Segment gross profit is calculated as revenue less direct course expenses, advertising and sales expenses and royalty expense. |
| |
|
Three months ended
September 30,
|
|
|
Nine months ended
September 30,
|
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| |
|
(In thousands) |
|
|
(In thousands) |
|
| Depreciation and amortization expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
37 |
|
|
$ |
47 |
|
|
$ |
119 |
|
|
$ |
146 |
|
| Canada |
|
|
1 |
|
|
|
1 |
|
|
|
3 |
|
|
|
2 |
|
| U.K. |
|
|
7 |
|
|
|
6 |
|
|
|
11 |
|
|
|
17 |
|
| Other foreign markets |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Total consolidated depreciation and amortization expenses |
|
$ |
45 |
|
|
$ |
54 |
|
|
$ |
133 |
|
|
$ |
165 |
|
| |
|
September 30,
2015
|
|
|
December 31,
2014
|
|
| |
|
(In thousands) |
|
| Segment identifiable assets |
|
|
|
|
|
|
| United States |
|
$ |
11,020 |
|
|
$ |
10,999 |
|
| Canada |
|
|
1,062 |
|
|
|
1,334 |
|
| U.K. |
|
|
4,691 |
|
|
|
4,518 |
|
| Other foreign markets |
|
|
4,634 |
|
|
|
876 |
|
| Total consolidated identifiable assets |
|
$ |
21,407 |
|
|
$ |
17,727 |
|
|