2012 Q4 Form 10-Q Financial Statement

#000119312512460559 Filed on November 08, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $303.3M $314.9M $426.0M
YoY Change -30.8% -26.08% -18.33%
Cost Of Revenue -$51.20M $117.9M $152.7M
YoY Change -174.96% -22.79% 2.48%
Gross Profit $23.30M $198.2M $275.7M
YoY Change -87.88% -28.11% -21.56%
Gross Profit Margin 7.68% 62.94% 64.72%
Selling, General & Admin -$9.100M $219.9M $233.6M
YoY Change -104.88% -5.86% -21.56%
% of Gross Profit -39.06% 110.95% 84.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.20M $20.50M $22.40M
YoY Change -4.07% -8.48% 25.84%
% of Gross Profit 90.99% 10.34% 8.12%
Operating Expenses -$16.30M $238.7M $255.8M
YoY Change -108.14% -6.68% -18.77%
Operating Profit -$91.53M -$39.56M $20.10M
YoY Change -45.48% -296.84% -53.25%
Interest Expense $200.0K $23.00K $44.00K
YoY Change -300.0% -47.73% -56.0%
% of Operating Profit 0.22%
Other Income/Expense, Net -$200.0K $370.0K $402.0K
YoY Change -7.96% -55.33%
Pretax Income $38.60M -$39.61M $25.75M
YoY Change -119.6% -253.8% -31.51%
Income Tax $24.00M -$13.93M $6.215M
% Of Pretax Income 62.18% 24.13%
Net Earnings -$61.49M -$33.15M $10.63M
YoY Change -48.95% -411.7% -59.31%
Net Earnings / Revenue -20.28% -10.53% 2.5%
Basic Earnings Per Share -$0.93 -$0.50 $0.14
Diluted Earnings Per Share -$0.93 -$0.50 $0.14
COMMON SHARES
Basic Shares Outstanding 67.10M shares 66.10M shares 73.58M shares
Diluted Shares Outstanding 66.10M shares 74.06M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $176.8M $373.3M $449.1M
YoY Change -59.93% -16.88% 1.49%
Cash & Equivalents $112.4M $133.1M $252.7M
Short-Term Investments $63.90M $130.5M $160.0M
Other Short-Term Assets $4.393M $5.214M $94.20M
YoY Change -75.42% -94.46% 35.15%
Inventory $8.361M $9.157M $10.70M
Prepaid Expenses $38.23M $75.18M
Receivables $54.19M $65.02M $57.50M
Other Receivables $2.100M $2.700M $3.600M
Total Short-Term Assets $543.6M $545.0M $615.1M
YoY Change -10.96% -11.4% 3.71%
LONG-TERM ASSETS
Property, Plant & Equipment $247.8M $317.5M $360.8M
YoY Change -29.15% -12.01% 7.44%
Goodwill $87.36M $131.9M
YoY Change -48.83%
Intangibles $56.01M $74.03M
YoY Change -26.58%
Long-Term Investments
YoY Change
Other Assets $30.28M $42.29M $56.00M
YoY Change 0.51% -24.48% -11.95%
Total Long-Term Assets $579.1M $600.1M $917.2M
YoY Change -17.93% -34.58% -6.4%
TOTAL ASSETS
Total Short-Term Assets $543.6M $545.0M $615.1M
Total Long-Term Assets $579.1M $600.1M $917.2M
Total Assets $1.123B $1.145B $1.532B
YoY Change -14.7% -25.28% -2.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.07M $53.24M $47.60M
YoY Change -33.69% 11.84% 0.0%
Accrued Expenses $73.80M $87.90M $104.1M
YoY Change -32.23% -15.56% -39.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $80.00M $300.0K $900.0K
YoY Change 9900.0% -66.67% 12.5%
Total Short-Term Liabilities $352.7M $310.8M $413.7M
YoY Change 7.06% -24.88% -13.23%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $300.0K
YoY Change -100.0% -100.0% -76.92%
Other Long-Term Liabilities $28.65M $35.89M $171.5M
YoY Change -29.03% -79.07% -1.27%
Total Long-Term Liabilities $158.2M $162.5M $171.8M
YoY Change -12.4% -5.41% -1.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $352.7M $310.8M $413.7M
Total Long-Term Liabilities $158.2M $162.5M $171.8M
Total Liabilities $510.9M $473.3M $585.5M
YoY Change 0.17% -19.17% -10.17%
SHAREHOLDERS EQUITY
Retained Earnings $232.9M $294.3M
YoY Change -38.01%
Common Stock $816.0K $816.0K
YoY Change -0.49%
Preferred Stock
YoY Change
Treasury Stock (at cost) $214.0M $214.0M
YoY Change 36.93%
Treasury Stock Shares 14.55M shares 14.55M shares
Shareholders Equity $611.8M $671.7M $946.8M
YoY Change
Total Liabilities & Shareholders Equity $1.123B $1.145B $1.532B
YoY Change -14.7% -25.27% -2.59%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income -$61.49M -$33.15M $10.63M
YoY Change -48.95% -411.7% -59.31%
Depreciation, Depletion And Amortization $21.20M $20.50M $22.40M
YoY Change -4.07% -8.48% 25.84%
Cash From Operating Activities -$49.30M $15.90M $94.60M
YoY Change -333.65% -83.19% -44.45%
INVESTING ACTIVITIES
Capital Expenditures -$8.400M -$9.500M -$19.50M
YoY Change -22.94% -51.28% -62.14%
Acquisitions
YoY Change
Other Investing Activities $71.20M $28.10M $8.500M
YoY Change 1067.21% 230.59% -29.17%
Cash From Investing Activities $62.80M $18.60M -$11.00M
YoY Change -1408.33% -269.09% -72.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.70M 300.0K -19.00M
YoY Change 5.99% -101.58% 2011.11%
NET CHANGE
Cash From Operating Activities -49.30M 15.90M 94.60M
Cash From Investing Activities 62.80M 18.60M -11.00M
Cash From Financing Activities -17.70M 300.0K -19.00M
Net Change In Cash -4.200M 34.80M 64.60M
YoY Change 950.0% -46.13% -50.23%
FREE CASH FLOW
Cash From Operating Activities -$49.30M $15.90M $94.60M
Capital Expenditures -$8.400M -$9.500M -$19.50M
Free Cash Flow -$40.90M $25.40M $114.1M
YoY Change -227.81% -77.74% -48.56%

Facts In Submission

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dei Document Type
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<div> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b>1. DESCRIPTION OF THE COMPANY</b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The colleges, schools and universities that are part of the Career Education Corporation (&#x201C;CEC&#x201D;) family offer high-quality education to a diverse student population of more than 80,000 students across the world in a variety of career-oriented disciplines through online, on-ground and hybrid learning program offerings. The more than 90 campuses that serve these students are located throughout the United States and in France, the United Kingdom and Monaco, and offer doctoral, master&#x2019;s, bachelor&#x2019;s and associate degrees and diploma and certificate programs.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">We are an industry leader whose institutions are recognized globally. Those institutions include, among others, American InterContinental University (&#x201C;AIU&#x201D;); Brooks Institute; Colorado Technical University (&#x201C;CTU&#x201D;); Harrington College of Design; INSEEC Group (&#x201C;INSEEC&#x201D;) Schools; International University of Monaco (&#x201C;IUM&#x201D;); International Academy of Design&#xA0;&amp; Technology (&#x201C;IADT&#x201D;); Le Cordon Bleu North America (&#x201C;LCB&#x201D;); and Sanford-Brown Institutes and Colleges. Through our schools, we are committed to providing high-quality education, enabling students to graduate and pursue rewarding career opportunities.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">For more information, see our website at <i>www.careered.com</i>. The website includes a detailed listing of individual campus locations and web links to our colleges, schools and universities.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">As used in this Quarterly Report on Form 10-Q, the terms &#x201C;we,&#x201D; &#x201C;us,&#x201D; &#x201C;our,&#x201D; &#x201C;the Company&#x201D; and &#x201C;CEC&#x201D; refer to Career Education Corporation and our wholly-owned subsidiaries. The terms &#x201C;school&#x201D; and &#x201C;university&#x201D; refer to an individual, branded, proprietary educational institution, owned by us and includes its campus locations. The term &#x201C;campus&#x201D; refers to an individual main or branch campus operated by one of our schools or universities.</font></p> </div>
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DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-1461000
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-1.18
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-3039000
ceco Lease Expiration Year
LeaseExpirationYear
2019
ceco Student Receivables Written Off Period
StudentReceivablesWrittenOffPeriod
Greater than 90 days
ceco Estimated Pretax Compensation Expenses Expiration In Years
EstimatedPretaxCompensationExpensesExpirationInYears
four
ceco Years Ars Auction Events Have Been Failing
YearsArsAuctionEventsHaveBeenFailing
3 pure
ceco Number Of Reporting Segments
NumberOfReportingSegments
6 pure
ceco Business Acquisition Purchase Price Allocation Estimated Earn Out Payment Payable
BusinessAcquisitionPurchasePriceAllocationEstimatedEarnOutPaymentPayable
1600000
ceco Educational Services And Facilities Expense
EducationalServicesAndFacilitiesExpense
431739000
ceco Estimated Share Based Compensation Expense
EstimatedShareBasedCompensationExpense
15000000
ceco Provision For Doubtful Accounts Including Discontinued Operations
ProvisionForDoubtfulAccountsIncludingDiscontinuedOperations
28967000
ceco Remaining Lease Obligations Incurred
RemainingLeaseObligationsIncurred
3256000
ceco Remaining Lease Obligations Net Cash Payments
RemainingLeaseObligationsNetCashPayments
7838000
ceco Revenue From Tuition And Registration Fees
RevenueFromTuitionAndRegistrationFees
1112950000
ceco Accounts Receivable Write Offs
AccountsReceivableWriteOffs
44482000
ceco Combined Summary Results Of Operations For Discontinued Operations
CombinedSummaryResultsOfOperationsForDiscontinuedOperations
<div> <p style="margin-top:0px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The combined summary of unaudited results of operations for our discontinued operations for the quarters and years to date ended September&#xA0;30, 2012 and 2011 were as follows:</font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> &#xA0;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE" align="center"> <tr> <td width="50%"></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td rowspan="3" valign="bottom">&#xA0;<font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:Times New Roman" size="1"><b>For&#xA0;the&#xA0;Quarters&#xA0;Ended<br /> September&#xA0;30,</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:Times New Roman" size="1"><b>For&#xA0;the&#xA0;Years&#xA0;to&#xA0;Date&#xA0;Ended<br /> September&#xA0;30,</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:Times New Roman" size="1"><b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;2012&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:Times New Roman" size="1"><b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;2011&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:Times New Roman" size="1"><b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;2012&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:Times New Roman" size="1"><b>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;2011&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="14" align="center"><font style="font-family:Times New Roman" size="1"><b>(Dollars in thousands)</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Revenue</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">&#x2014;&#xA0;&#xA0;</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">2,904</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">5</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">26,881</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">(Loss) income before income tax</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">(3,107</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">(5,275</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">(4,500</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">1,290</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Income tax (benefit) provision</font> <font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">(1)</sup></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">(792</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">(1,841</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">(1,461</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">350</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">(Loss) income from discontinued operations, net of tax</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">(2,315</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">(3,434</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">(3,039</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">)&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">940</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%"> &#xA0;</p> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:Times New Roman" size="2">(1)</font></td> <td align="left" valign="top"><font style="font-family:Times New Roman" size="2">Amount represents the difference between the total consolidated income tax (benefit) provision, calculated by applying the estimated full-year consolidated effective tax rate to (losses) / earnings reported for the period, and the income tax (benefit) provision for continuing operations, calculated by applying the estimated full-year effective tax rate for continuing operations to pretax (loss) income from continuing operations for the period.</font></td> </tr> </table> </div>
ceco Assets And Liabilities Of Discontinued Operations On Consolidated Balance Sheets
AssetsAndLiabilitiesOfDiscontinuedOperationsOnConsolidatedBalanceSheets
<div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">Assets and liabilities of discontinued operations on our consolidated balance sheets as of September&#xA0;30, 2012 and December&#xA0;31, 2011 include the following:</font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> &#xA0;</p> <table cellspacing="0" cellpadding="0" width="84%" border="0" style="BORDER-COLLAPSE:COLLAPSE" align="center"> <tr> <td width="68%"></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td rowspan="2" valign="bottom">&#xA0;<font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:Times New Roman" size="1"><b>September&#xA0;30,<br /> 2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:Times New Roman" size="1"><b>December&#xA0;31,<br /> 2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="6" align="center"><font style="font-family:Times New Roman" size="1"><b>(Dollars in thousands)</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2"><b>Assets:</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Current assets:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Receivables, net</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">217</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">104</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Deferred income tax assets</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">3,224</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">3,224</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Total current assets</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">3,441</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">3,328</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Non-current assets:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Deferred income tax assets</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">15,421</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">15,421</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Other assets, net</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">1,499</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">1,680</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2"><b>Total assets of discontinued operations</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">20,361</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">20,429</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2"><b>Liabilities:</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Current liabilities:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Accounts payable</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">10</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">3</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Accrued expenses</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">420</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">498</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Remaining lease obligations</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">12,413</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">7,902</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Total current liabilities</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">12,843</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">8,403</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Non-current liabilities:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2">Remaining lease obligations</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">28,842</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">37,935</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:Times New Roman" size="2"><b>Total liabilities of discontinued operations</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">41,685</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="font-family:Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:Times New Roman" size="2">46,338</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td valign="bottom"> <p style="border-top:3px double #000000">&#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> </div>
ceco Gain Loss On Sale Of Loans Held For Sale
GainLossOnSaleOfLoansHeldForSale
900000
CY2012Q1 ceco Earnout Compensation Expense Recorded
EarnoutCompensationExpenseRecorded
1300000
CY2011Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
183000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-5470000
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.05
CY2011Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
263000
CY2011Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
100000 shares
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
25753000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73582000 shares
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.05
CY2011Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.306 pure
CY2011Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-11761000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
20283000
CY2011Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
14068000
CY2011Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
14078000
CY2011Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
22156000
CY2011Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
10991000
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
19881000
CY2011Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-5275000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
10634000
CY2011Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
402000
CY2011Q3 us-gaap Costs And Expenses
CostsAndExpenses
408530000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2011Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
233647000
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74058000 shares
CY2011Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1133000
CY2011Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
2904000
CY2011Q3 us-gaap Revenues
Revenues
428411000
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6215000
CY2011Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-6000
CY2011Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.19
CY2011Q3 us-gaap Proceeds From Recoveries Of Loan Previously Charged Off
ProceedsFromRecoveriesOfLoanPreviouslyChargedOff
2100000
CY2011Q3 us-gaap Interest Expense
InterestExpense
44000
CY2011Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-11767000
CY2011Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-1841000
CY2011Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.19
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-3434000
CY2011Q3 ceco Educational Services And Facilities Expense
EducationalServicesAndFacilitiesExpense
152727000
CY2011Q3 ceco Remaining Lease Obligations Incurred
RemainingLeaseObligationsIncurred
491000
CY2011Q3 ceco Remaining Lease Obligations Net Cash Payments
RemainingLeaseObligationsNetCashPayments
2450000
CY2011Q3 ceco Revenue From Tuition And Registration Fees
RevenueFromTuitionAndRegistrationFees
417420000
CY2011Q3 ceco Accounts Receivable Write Offs
AccountsReceivableWriteOffs
22045000
CY2011Q3 ceco Common Stock Equivalents
CommonStockEquivalents
476000 shares
CY2011Q3 ceco Shares That Have Anti Dilutive Effect On Diluted Net Income Per Share
SharesThatHaveAntiDilutiveEffectOnDilutedNetIncomePerShare
3500000 shares
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
77000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-7897000
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.03
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
686000
CY2012Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
100000 shares
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-39609000
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66100000 shares
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.03
CY2012Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.351 pure
CY2012Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
743000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-47506000
CY2012Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-30831000
CY2012Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
11190000
CY2012Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
20429000
CY2012Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
6293000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-48247000
CY2012Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-3107000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-33146000
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
741000
CY2012Q3 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
2600000
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
381004000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
227369000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66100000 shares
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-32609000
CY2012Q3 us-gaap Revenues
Revenues
332757000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16675000
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-206000
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.47
CY2012Q3 us-gaap Proceeds From Recoveries Of Loan Previously Charged Off
ProceedsFromRecoveriesOfLoanPreviouslyChargedOff
2400000
CY2012Q3 us-gaap Interest Expense
InterestExpense
22000
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
537000
CY2012Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-792000
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.47
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-2315000
CY2012Q3 ceco Educational Services And Facilities Expense
EducationalServicesAndFacilitiesExpense
133206000
CY2012Q3 ceco Remaining Lease Obligations Incurred
RemainingLeaseObligationsIncurred
2543000
CY2012Q3 ceco Remaining Lease Obligations Net Cash Payments
RemainingLeaseObligationsNetCashPayments
2503000
CY2012Q3 ceco Revenue From Tuition And Registration Fees
RevenueFromTuitionAndRegistrationFees
326464000
CY2012Q3 ceco Accounts Receivable Write Offs
AccountsReceivableWriteOffs
15406000
CY2012Q3 ceco Title Iv Disbursement Hold Back Amount
TitleIvDisbursementHoldBackAmount
19700000
CY2012Q3 ceco Potential Decrease Of Uncertain Tax Positions Next Twelve Months
PotentialDecreaseOfUncertainTaxPositionsNextTwelveMonths
1700000

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