Quarterly report pursuant to Section 13 or 15(d)

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

v3.10.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Revenue $ 25,222 $ 26,208 $ 50,977 $ 48,173
Operating costs and expenses:        
Direct course expenses 15,397 13,220 29,611 26,083
Advertising and sales expenses 5,998 5,131 11,570 9,722
Royalty expenses 1,653 1,639 3,209 2,532
General and administrative expenses 5,198 4,231 10,046 8,572
Total operating costs and expenses 28,246 24,221 54,436 46,909
Income/(loss) from operations (3,024) 1,987 (3,459) 1,264
Other income (expense):        
Interest expense (4) (2) (8) (5)
Other income (expense), net (27) 69 (48) 152
Total other income (expense), net (31) 67 (56) 147
Income/(loss) before income taxes (3,055) 2,054 (3,515) 1,411
Income tax (expense) benefit 640 (107) 243 226
Net income/(loss) $ (2,415) $ 1,947 $ (3,272) $ 1,637
Basic earnings/(loss) per common share $ (0.10) $ 0.09 $ (0.14) $ 0.07
Diluted earnings/(loss) per common share $ (0.10) $ 0.08 $ (0.14) $ 0.07
Basic weighted average common shares outstanding 23,008 21,284 23,008 21,284
Diluted weighted average common shares outstanding 23,008 22,763 23,008 22,697
Comprehensive income/(loss):        
Net income/(loss) $ (2,415) $ 1,947 $ (3,272) $ 1,637
Foreign currency translation adjustments, net of tax of $0 1,407 (980) 986 (1,278)
Total comprehensive income/(loss) $ (1,008) $ 967 $ (2,286) $ 359