| Segment Information |
Note 9 - Segment Information
We manage our business in four operating segments based on geographic location for which operating managers are responsible to the Chief Operations Officer. As such, operating results, as reported below, are reviewed regularly by our Chief Operating Officer, or Chief Operating Decision Maker (“CODM”) and other members of the executive team.
The proportion of our total revenue attributable to each segment is as follows:
| |
|
Three Months Ended March 31, |
|
| As a percentage of total revenue |
|
2016 |
|
|
2015 |
|
| U.S. |
|
|
63.4 |
% |
|
|
71.0 |
% |
| Canada |
|
|
5.1 |
% |
|
|
6.7 |
% |
| U.K. |
|
|
22.2 |
% |
|
|
18.8 |
% |
| Other foreign markets |
|
|
9.3 |
% |
|
|
3.5 |
% |
| Total consolidated revenue |
|
|
100 |
% |
|
|
100 |
% |
Operating results for the segments are as follows:
| |
|
Three Months Ended March 31, |
|
|
|
2016 |
|
|
2015 |
|
| Segment revenue |
|
(In thousands) |
|
| United States |
|
$ |
14,424 |
|
|
$ |
15,434 |
|
| Canada |
|
|
1,155 |
|
|
|
1,468 |
|
| U.K. |
|
|
5,049 |
|
|
|
4,075 |
|
| Other foreign markets |
|
|
2,110 |
|
|
|
766 |
|
| Total consolidated revenue |
|
$ |
22,738 |
|
|
$ |
21,743 |
|
| |
|
Three Months Ended March 31, |
|
|
|
2016 |
|
|
2015 |
|
| Segment gross profit contribution * |
|
(In thousands) |
|
| United States |
|
$ |
3,706 |
|
|
$ |
4,582 |
|
| Canada |
|
|
195 |
|
|
|
289 |
|
| U.K. |
|
|
1,479 |
|
|
|
284 |
|
| Other foreign markets |
|
|
(536 |
) |
|
|
(1,304 |
) |
| Total consolidated gross profit |
|
$ |
4,844 |
|
|
$ |
3,851 |
|
| * |
Segment gross profit is calculated as revenue less direct course expenses, advertising and sales expenses and royalty expense. |
| |
|
Three Months Ended March 31, |
|
|
|
2016 |
|
|
2015 |
|
| Depreciation and amortization expenses |
|
(In thousands) |
|
| United States |
|
$ |
33 |
|
|
$ |
44 |
|
| Canada |
|
|
1 |
|
|
|
1 |
|
| U.K. |
|
|
5 |
|
|
|
6 |
|
| Other foreign markets |
|
|
— |
|
|
|
— |
|
| Total consolidated depreciation and amortization expenses |
|
$ |
39 |
|
|
$ |
51 |
|
| |
|
March 31, |
|
|
December 31, |
|
| |
|
2016 |
|
|
2015 |
|
| Segment identifiable assets |
|
(In thousands) |
|
| United States |
|
$ |
13,520 |
|
|
$ |
13,537 |
|
| Canada |
|
|
1,086 |
|
|
|
846 |
|
| U.K. |
|
|
5,025 |
|
|
|
4,672 |
|
| Other foreign markets |
|
|
2,965 |
|
|
|
2,070 |
|
| Total consolidated identifiable assets |
|
$ |
22,596 |
|
|
$ |
21,125 |
|
|