2014 Q2 Form 10-Q Financial Statement
#000115752314003287 Filed on August 05, 2014
Income Statement
| Concept | 2014 Q2 | 2013 Q2 |
|---|---|---|
| Revenue | $85.46M | $80.93M |
| YoY Change | 5.61% | 8.52% |
| Cost Of Revenue | $30.20M | $27.21M |
| YoY Change | 10.99% | 3.66% |
| Gross Profit | $55.27M | $53.72M |
| YoY Change | 2.89% | 11.18% |
| Gross Profit Margin | 64.67% | 66.38% |
| Selling, General & Admin | $35.47M | $33.20M |
| YoY Change | 6.84% | 8.45% |
| % of Gross Profit | 64.18% | 61.81% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $3.960M | $3.310M |
| YoY Change | 19.64% | 22.14% |
| % of Gross Profit | 7.16% | 6.16% |
| Operating Expenses | $35.47M | $33.20M |
| YoY Change | 6.84% | 8.45% |
| Operating Profit | $15.84M | $17.20M |
| YoY Change | -7.95% | 15.01% |
| Interest Expense | $98.00K | $88.00K |
| YoY Change | 11.36% | -393.33% |
| % of Operating Profit | 0.62% | 0.51% |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | $15.93M | $17.29M |
| YoY Change | -7.85% | 15.6% |
| Income Tax | $6.173M | $6.543M |
| % Of Pretax Income | 38.74% | 37.84% |
| Net Earnings | $9.802M | $10.75M |
| YoY Change | -8.82% | 16.33% |
| Net Earnings / Revenue | 11.47% | 13.28% |
| Basic Earnings Per Share | $0.56 | $0.61 |
| Diluted Earnings Per Share | $0.56 | $0.60 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 17.37M shares | 17.65M shares |
| Diluted Shares Outstanding | 17.47M shares | 17.84M shares |
Balance Sheet
| Concept | 2014 Q2 | 2013 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $89.80M | $128.1M |
| YoY Change | -29.9% | 9.77% |
| Cash & Equivalents | $89.80M | $128.1M |
| Short-Term Investments | ||
| Other Short-Term Assets | $13.90M | $9.100M |
| YoY Change | 52.75% | -9.9% |
| Inventory | ||
| Prepaid Expenses | $5.511M | $4.725M |
| Receivables | $8.471M | $8.023M |
| Other Receivables | $800.0K | $0.00 |
| Total Short-Term Assets | $113.0M | $145.3M |
| YoY Change | -22.22% | 5.73% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $94.05M | $87.34M |
| YoY Change | 7.68% | 20.33% |
| Goodwill | $38.15M | |
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $12.22M | $10.62M |
| YoY Change | 15.05% | |
| Other Assets | $8.937M | $1.190M |
| YoY Change | 651.01% | 19.84% |
| Total Long-Term Assets | $159.7M | $105.2M |
| YoY Change | 51.91% | 42.9% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $113.0M | $145.3M |
| Total Long-Term Assets | $159.7M | $105.2M |
| Total Assets | $272.7M | $250.4M |
| YoY Change | 8.91% | 18.69% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $11.32M | $8.705M |
| YoY Change | 29.98% | -42.67% |
| Accrued Expenses | $9.559M | $15.65M |
| YoY Change | -38.92% | 13.44% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $44.09M | $50.95M |
| YoY Change | -13.46% | -4.03% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | ||
| YoY Change | ||
| Total Long-Term Liabilities | $0.00 | $0.00 |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $44.09M | $50.95M |
| Total Long-Term Liabilities | $0.00 | $0.00 |
| Total Liabilities | $58.02M | $61.46M |
| YoY Change | -5.59% | -1.84% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $47.70M | $35.65M |
| YoY Change | 33.8% | 623.75% |
| Common Stock | $167.0M | $153.3M |
| YoY Change | 8.93% | 1.31% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $214.7M | $189.0M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $272.7M | $250.4M |
| YoY Change | 8.91% | 18.69% |
Cashflow Statement
| Concept | 2014 Q2 | 2013 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $9.802M | $10.75M |
| YoY Change | -8.82% | 16.33% |
| Depreciation, Depletion And Amortization | $3.960M | $3.310M |
| YoY Change | 19.64% | 22.14% |
| Cash From Operating Activities | $9.780M | $14.04M |
| YoY Change | -30.34% | 78.85% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $4.603M | $4.974M |
| YoY Change | -7.46% | -139.7% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$1.510M | $0.00 |
| YoY Change | ||
| Cash From Investing Activities | -$6.940M | -$5.040M |
| YoY Change | 37.7% | -59.78% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -12.72M | -1.420M |
| YoY Change | 795.77% | -67.95% |
| NET CHANGE | ||
| Cash From Operating Activities | 9.780M | 14.04M |
| Cash From Investing Activities | -6.940M | -5.040M |
| Cash From Financing Activities | -12.72M | -1.420M |
| Net Change In Cash | -9.880M | 7.580M |
| YoY Change | -230.34% | -183.21% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $9.780M | $14.04M |
| Capital Expenditures | $4.603M | $4.974M |
| Free Cash Flow | $5.177M | $9.066M |
| YoY Change | -42.9% | -55.52% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2014Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
17254234 | shares |
| CY2013Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
128116000 | |
| CY2013Q2 | us-gaap |
Assets
Assets
|
250425000 | |
| CY2014Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
17254000 | shares |
| CY2014Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
17254000 | shares |
| CY2014Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
| CY2014Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
29.98 | |
| CY2014Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
467834 | shares |
| CY2014Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
29.98 | |
| CY2014Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2014Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
| CY2014Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2014Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
467834 | shares |
| CY2014Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | |
| CY2014Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
44090000 | |
| CY2014Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
173000 | |
| CY2014Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2014Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
11315000 | |
| CY2014Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
47702000 | |
| CY2014Q2 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
13932000 | |
| CY2014Q2 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
166842000 | |
| CY2014Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
9559000 | |
| CY2014Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
214717000 | |
| CY2014Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
272739000 | |
| CY2014Q2 | us-gaap |
Liabilities
Liabilities
|
58022000 | |
| CY2014Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
19158000 | |
| CY2014Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
89801000 | |
| CY2014Q2 | us-gaap |
Goodwill
Goodwill
|
38148000 | |
| CY2014Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
94049000 | |
| CY2014Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
2795000 | |
| CY2014Q2 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
12216000 | |
| CY2014Q2 | us-gaap |
Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
|
6390000 | |
| CY2014Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
2795000 | |
| CY2014Q2 | us-gaap |
Assets
Assets
|
272739000 | |
| CY2014Q2 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
8373000 | |
| CY2014Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
8471000 | |
| CY2014Q2 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
843000 | |
| CY2014Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
8937000 | |
| CY2014Q2 | us-gaap |
Assets Current
AssetsCurrent
|
112999000 | |
| CY2014Q2 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
5511000 | |
| CY2014Q2 | apei |
Deferred Revenue And Student Deposits
DeferredRevenueAndStudentDeposits
|
23216000 | |
| CY2012Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
114901000 | |
| CY2013Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
17578000 | shares |
| CY2013Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
17578000 | shares |
| CY2013Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
28.82 | |
| CY2013Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2013Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2013Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
| CY2013Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2013Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
501202 | shares |
| CY2013Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | |
| CY2013Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
54258000 | |
| CY2013Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
176000 | |
| CY2013Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2013Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
11563000 | |
| CY2013Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
41980000 | |
| CY2013Q4 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
10328000 | |
| CY2013Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
164913000 | |
| CY2013Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
17866000 | |
| CY2013Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
207069000 | |
| CY2013Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
271655000 | |
| CY2013Q4 | us-gaap |
Liabilities
Liabilities
|
64586000 | |
| CY2013Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
13175000 | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-8546000 | ||
| CY2013Q4 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
3432000 | |
| CY2013Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
9520000 | |
| CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
94820000 | |
| CY2013Q4 | us-gaap |
Goodwill
Goodwill
|
38148000 | |
| CY2013Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
90733000 | |
| CY2013Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
10597000 | |
| CY2013Q4 | us-gaap |
Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
|
6000000 | |
| CY2013Q4 | us-gaap |
Assets
Assets
|
271655000 | |
| CY2013Q4 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
3215000 | |
| CY2013Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
9592000 | |
| CY2013Q4 | us-gaap |
Assets Current
AssetsCurrent
|
116585000 | |
| CY2013Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
5598000 | |
| CY2013Q4 | apei |
Deferred Revenue And Student Deposits
DeferredRevenueAndStudentDeposits
|
24829000 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.23 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
34640000 | ||
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
17948356 | shares | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.25 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
17704678 | shares | |
| us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
785000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
599000 | ||
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
35413000 | ||
| us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
153000 | ||
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
6228000 | ||
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
35566000 | ||
| us-gaap |
Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
|
314000 | ||
| us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
163000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
7794000 | ||
| us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
4000000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
10921000 | ||
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-109000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
22126000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-2405000 | ||
| us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
164765000 | ||
| us-gaap |
Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
|
-4953000 | ||
| us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-46000 | ||
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
1220000 | ||
| us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
32584000 | ||
| us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
210000 | ||
| us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
782000 | ||
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
13215000 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
13394000 | ||
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
6519000 | ||
| us-gaap |
Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
|
1243000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue And Customer Advances And Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits
|
33000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1983000 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
1145000 | ||
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
129352000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-6341000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
3609000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-15084000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1243000 | ||
| us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
1198000 | ||
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
34637000 | ||
| us-gaap |
Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
|
361000 | ||
| apei |
Instructional Costs And Expenses
InstructionalCostsAndExpenses
|
55612000 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.15 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
11.37 | ||
| dei |
Document Type
DocumentType
|
10-Q | ||
| dei |
Entity Registrant Name
EntityRegistrantName
|
AMERICAN PUBLIC EDUCATION INC | ||
| dei |
Trading Symbol
TradingSymbol
|
APEI | ||
| dei |
Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | ||
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; MARGIN-LEFT: 0pt; DISPLAY: block; LETTER-SPACING: normal; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; DISPLAY: inline"> 1. Nature of the Business</font></div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; DISPLAY: block; LETTER-SPACING: normal; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px"> <br /></div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); TEXT-ALIGN: left; FONT: 13px 'Times New Roman'; MARGIN-LEFT: 0pt; DISPLAY: block; LETTER-SPACING: normal; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; DISPLAY: inline">American Public Education, Inc., or APEI, which together with its subsidiaries is referred to as the “Company”, is a provider of online and campus-based postsecondary education to approximately 112,000 students through the operations of two subsidiaries:</font></div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; MARGIN-LEFT: 0pt; DISPLAY: block; LETTER-SPACING: normal; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px" align="justify"> </div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" align="center"> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'" cellspacing="0" cellpadding="0" width="100%" bgcolor="white"> <tr> <td style="TEXT-ALIGN: center" valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'"> <font style="FONT-FAMILY: 'times new roman'; DISPLAY: inline">●</font></font></td> <td style="TEXT-ALIGN: left" width="96%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'; DISPLAY: inline">American Public University System, Inc., or APUS, provides online postsecondary education directed primarily at the needs of the military and public safety communities through American Military University, or AMU, and American Public University, or APU.  APUS is regionally accredited by the Higher Learning Commission.</font></font></td> </tr> </table> </div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">  </div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; DISPLAY: block; LETTER-SPACING: normal; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px"> <div align="center"> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'" cellspacing="0" cellpadding="0" width="100%" bgcolor="white"> <tr> <td style="TEXT-ALIGN: center" valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'"> <font style="FONT-FAMILY: 'times new roman'; DISPLAY: inline">●</font></font></td> <td style="TEXT-ALIGN: left" width="96%"> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'; DISPLAY: inline">National Education Seminars, Inc., which is referred to in these financial statements as Hondros College of Nursing, or HCON,  provides on-campus nursing education to students at four campuses in Ohio as well as online to serve the needs of the nursing and healthcare community.  HCON is nationally accredited by the Accrediting Council of Independent Colleges and Schools. HCON was acquired by APEI on November 1, 2013.</font></div> </td> </tr> </table> </div> <div><br /> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; DISPLAY: inline">The Company’s institutions are licensed or otherwise authorized to offer postsecondary education programs by state authorities to the extent the Company believes such authorizations are required or are in the process of obtaining such authorization and are certified by the United States Department of Education, or ED, to participate in student financial aid programs authorized under Title IV of the Higher Education Act of 1965, as amended, or Title IV programs.</font></div> </div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; DISPLAY: block; LETTER-SPACING: normal; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px"> <br /></div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; MARGIN-LEFT: 0pt; DISPLAY: block; LETTER-SPACING: normal; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; DISPLAY: inline">Our operations are organized into two reportable segments:</font></div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; MARGIN-LEFT: 0pt; DISPLAY: block; LETTER-SPACING: normal; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px" align="left"> </div> <div style="WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 13px 'Times New Roman'; MARGIN-LEFT: 0pt; DISPLAY: block; LETTER-SPACING: normal; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt; -webkit-text-stroke-width: 0px" align="left"> <div align="center"> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'" cellspacing="0" cellpadding="0" width="100%" bgcolor="white"> <tr> <td style="TEXT-ALIGN: center" valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'"> <font style="FONT-FAMILY: 'times new roman'; DISPLAY: inline">●</font></font></td> <td width="96%"> <div style="MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'; DISPLAY: inline"> <font style="FONT-STYLE: italic; DISPLAY: inline">American Public Education Segment, or APEI Segment.</font><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> </font>This segment reflects the historical operations of APEI prior to the acquisition of HCON and reflects operational activities at APUS, other corporate activities, and minority investments.</font></font></div> </div> </td> </tr> </table> </div> <div> </div> <div align="center"> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'" cellspacing="0" cellpadding="0" width="100%" bgcolor="white"> <tr> <td style="TEXT-ALIGN: center" valign="top" width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'"> <font style="FONT-FAMILY: 'times new roman'; DISPLAY: inline">●</font></font></td> <td width="96%"> <div style="MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"> <div style="MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'; DISPLAY: inline"> <font style="FONT-STYLE: italic; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman'; DISPLAY: inline"><font style="FONT-STYLE: italic; DISPLAY: inline"> Hondros College of Nursing Segment, or HCON Segment. </font><font style="FONT-STYLE: normal">This segment reflects the operational activities of HCON. The Company acquired HCON on November 1, 2013, and therefore the consolidated results for periods prior to November 1, 2013 do not include any results from HCON.</font></font></font></font></font></div> </div> </div> </td> </tr> </table> </div> <div> </div> </div> </div> | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
22225000 | ||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P2Y7M6D | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
1650 | shares | |
| us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"> 2. Basis of Presentation</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP.  All intercompany transactions have been eliminated in consolidation.  The financial statements do not include all of the information and footnotes required by GAAP for complete financial statement presentations. In the opinion of management, these statements include all adjustments (consisting of normal recurring adjustments) considered necessary to present a fair statement of the Company's consolidated results of operations, financial position and cash flows. Operating results for any interim period are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s consolidated financial statements and footnotes in its audited financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2013.</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Use of Estimates</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Recent Accounting Pronouncements</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">In May 2014, the FASB issued ASU No. 2014-09, “<font style="FONT-STYLE: italic; DISPLAY: inline">Revenue from Contracts with Customers (Topic 606)</font>”<font style="FONT-STYLE: italic; DISPLAY: inline"> </font>(“ASU 2014-09”).  The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services.  ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is not permitted.  Accordingly, the standard will only be effective for the Company for periods beginning on or after January 1, 2017.  We will evaluate the impact that the standard will have on our financial condition, results of operations, and disclosures. There have been no other applicable pronouncements since the Company's Annual Report  on Form 10-K for the year ended December 31, 2013.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Investments</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On February 20, 2013, the Company made a $4.0 million investment in preferred stock of Fidelis Education, Inc., or Fidelis Education, representing approximately 21.6% of its fully diluted equity.  Fidelis Education is developing a technology platform that will assist working adult students with education advising and career mentoring services as they pursue college degrees.  In connection with the investment, the Company is entitled to certain rights, including right to representation on the Board of Directors. The Company accounts for its investment in Fidelis Education under the equity method of accounting.  Therefore, <font style="FONT-SIZE: 10pt; DISPLAY: inline">t</font>he Company recorded the investment at cost and records its share of earnings or losses in the investee in the periods for which they are reported with a corresponding adjustment in the carrying amount of the investment.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On April 2, 2014, the Company made a $1.5 million investment in preferred stock of Second Avenue Software, Inc. representing approximately 25.9% of its fully diluted equity.  Second Avenue Software is a game-based education software company that develops software on a proprietary and “work-for-hire” basis.  In connection with the investment, the Company is entitled to certain rights, including right to representation on the Board of Directors.  The Company accounts for its investment in Second Avenue Software under the equity method of accounting.  Therefore, the Company recorded the investment at cost and will recognize its share of earnings or losses in the investee in the periods for which they are reported with a corresponding adjustment in the carrying amount of the investment.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Notes Receivable</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company evaluates notes receivable by analyzing the borrower's creditworthiness, cash flows and financial status, and the condition and estimated value of the collateral.  The Company considers a note receivable to be impaired when, based upon current information and events, the Company believes it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Commitments and</font> <font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Contingencies</font></font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company accrues for costs associated with contingencies including, but not limited to, regulatory compliance and legal matters when such costs are probable and can be reasonably estimated. Liabilities established to provide for contingencies are adjusted as further information develops, circumstances change, or contingencies are resolved. The Company bases these accruals on management’s estimate of such costs, which may vary from the ultimate cost and expenses associated with any such contingency.</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">From time to time, the Company may be involved in litigation in the normal course of its business.  The Company is not aware of any pending or threatened litigation matters the resolution of which, in the opinion of management, will have a material adverse effect on the Company’s business, operations, financial condition or cash flows.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On or about November 18, 2013, a putative class action styled Tabatha Vickery, Bryan Lynn, on behalf of themselves and a similarly situated class v. Hondros College, Inc. and John G. Hondros, was filed in the Court of Common Pleas, Cuyahoga County, Ohio, case no. CV 13 817299.  National Education Seminars, Inc., which we refer to as Hondros College of Nursing, or HCON, was not named in the lawsuit, but a then member of HCON’s board of directors, John Hondros, was named in the lawsuit, and the allegations made in the Complaint relate to HCON’s operations and not the operations of the entity named in the lawsuit.  The lawsuit asserts claims for fraud and fraudulent inducement, negligent misrepresentation, breach of implied-in-fact contract, promissory estoppel, unjust enrichment, and violation of the Ohio Consumer Sales Practices Act, for, among other things, the alleged provision of false or misleading information to the named plaintiffs and other putative class members in 2011 and 2012 regarding the status of accreditation by National League for Nursing Accrediting Commission of HCON’s Associate Degree in Nursing, or ADN, program offered at its Independence, Ohio campus.  The plaintiffs allege that the putative class consists of more than 60 former students who in the summer or fall quarters of 2011 enrolled in the ADN or the licensed practical nursing, or LPN, program at the Independence campus with the intention of pursuing a degree in nursing, but who withdrew from the ADN or LPN program.  On February 11, 2014, the plaintiffs filed their First Amended Complaint, which removed Hondros College, Inc. as a defendant and added HCON as a defendant.  On February 24, 2014, the defendants filed a motion to dismiss with prejudice the plaintiffs’ First Amended Complaint. On April 1, 2014, the plaintiffs filed their opposition to the motion to dismiss.  On April 10, 2014, the defendants filed their reply brief in support of the motion to dismiss.  The Company is currently unable to estimate the likelihood or range of reasonably probable loss, if any, for this matter.  The Company does not believe, based on currently available information, that the outcome of this proceeding, if adverse to HCON, would have a material adverse effect on the Company’s financial condition.</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">    </font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Concentration</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Approximately 35%  and 36% of the Company’s revenues for the three and six month periods ended June 30, 2014 were derived from students who received tuition assistance from tuition assistance programs sponsored by the United States Department of Defense, or DoD, compared to approximately 35%  and 37% of the Company’s revenues for the three and six month periods ended June 30, 2013.  Approximately 18% of the Company’s revenues for the three and six month periods ended June 30, 2014 was derived from students who were eligible for veterans benefits, compared to approximately 17% and 16% of the Company’s revenues for the three and six month periods ended June 30, 2013.  Approximately 35% of the Company’s revenues for the three and six month periods ended June 30, 2014 was derived from students using financial aid under the Title IV programs, compared to 36% and 35% for the three and six month periods ended June 30, 2013.  A reduction in any of these programs or a change in the benefits allowed to students thereunder could have a significant impact on the Company’s operations.</font></div> </div> | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
shares | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Use of Estimates</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</font></div> </div> | ||
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2014-06-30 | ||
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | Segment | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P2Y7M6D | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
36.04 | ||
| dei |
Amendment Flag
AmendmentFlag
|
false | ||
| dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | ||
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
17626492 | shares | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.16 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
|||
| dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001201792 | ||
| dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
| us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Concentration</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 18pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Approximately 35%  and 36% of the Company’s revenues for the three and six month periods ended June 30, 2014 were derived from students who received tuition assistance from tuition assistance programs sponsored by the United States Department of Defense, or DoD, compared to approximately 35%  and 37% of the Company’s revenues for the three and six month periods ended June 30, 2013.  Approximately 18% of the Company’s revenues for the three and six month periods ended June 30, 2014 was derived from students who were eligible for veterans benefits, compared to approximately 17% and 16% of the Company’s revenues for the three and six month periods ended June 30, 2013.  Approximately 35% of the Company’s revenues for the three and six month periods ended June 30, 2014 was derived from students using financial aid under the Title IV programs, compared to 36% and 35% for the three and six month periods ended June 30, 2013.  A reduction in any of these programs or a change in the benefits allowed to students thereunder could have a significant impact on the Company’s operations.</font></div> </div> | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | Segment | |
| us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
31718 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
17440207 | shares | |
| us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
960000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
261000 | ||
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
32560000 | ||
| us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
179000 | ||
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
11138000 | ||
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
32739000 | ||
| us-gaap |
Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
|
142000 | ||
| us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
951000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
15756000 | ||
| us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
1630000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
9215000 | ||
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-60000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
20238000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1049000 | ||
| us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
174016000 | ||
| us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
380000 | ||
| us-gaap |
Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
|
-2372000 | ||
| us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-1000 | ||
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-1337000 | ||
| us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
34049000 | ||
| us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
327000 | ||
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-5019000 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
12500000 | ||
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
7847000 | ||
| CY2013Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.61 | |
| CY2013Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
17645682 | shares |
| CY2013Q2 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
383000 | |
| CY2013Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
17203000 | |
| CY2013Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
88000 | |
| CY2013Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
17291000 | |
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
141456000 | ||
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
38015000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-248000 | ||
| CY2013Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4974000 | |
| CY2013Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
10750000 | |
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-15068000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-8307000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-12176000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
361000 | ||
| us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
1464000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue And Customer Advances And Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits
|
-1613000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2424000 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
858000 | ||
| apei |
Number Of Students
NumberOfStudents
|
112000 | Person | |
| apei |
Number Of Subsidiaries
NumberOfSubsidiaries
|
2 | Subsidiary | |
| apei |
Instructional Costs And Expenses
InstructionalCostsAndExpenses
|
61545000 | ||
| CY2014Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.56 | |
| CY2014Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
17472602 | shares |
| CY2014Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.56 | |
| CY2014Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
17367328 | shares |
| CY2014Q2 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
502000 | |
| CY2014Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
15835000 | |
| CY2014Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
98000 | |
| CY2014Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
15933000 | |
| CY2014Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4603000 | |
| CY2014Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
9802000 | |
| CY2014Q2 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
85463000 | |
| CY2014Q2 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
42000 | |
| CY2014Q2 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
16982000 | |
| CY2014Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
6173000 | |
| CY2014Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
3958000 | |
| CY2014Q2 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
766000 | |
| CY2014Q2 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
69628000 | |
| CY2014Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
18491000 | |
| CY2014Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1268000 | |
| CY2014Q2 | apei |
Instructional Costs And Expenses
InstructionalCostsAndExpenses
|
30197000 | |
| CY2013Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.60 | |
| CY2013Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
17835623 | shares |
| CY2013Q2 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
80925000 | |
| CY2013Q2 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
2000 | |
| CY2013Q2 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
16045000 | |
| CY2013Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
6543000 | |
| CY2013Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
3312000 | |
| CY2013Q2 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
585000 | |
| CY2013Q2 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
63722000 | |
| CY2013Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
17158000 | |
| CY2013Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
968000 | |
| CY2013Q2 | apei |
Instructional Costs And Expenses
InstructionalCostsAndExpenses
|
27207000 |
