$UTI
UNIVERSAL TECHNICAL INSTITUTE INC

2012 Q3 Form 10-K Financial Statement

#000126165413000036 Filed on December 04, 2013

View on sec.gov

Income Statement

Concept 2012 Q3 2012 Q2 2012 Q1
Revenue $101.3M $99.60M $106.2M
YoY Change -9.08% -8.54% -6.97%
Cost Of Revenue $54.20M $52.60M $53.40M
YoY Change 0.18% -9.31% -7.45%
Gross Profit $47.10M $47.00M $52.80M
YoY Change -17.66% -7.66% -6.55%
Gross Profit Margin 46.5% 47.19% 49.7%
Selling, General & Admin $43.50M $44.10M $49.80M
YoY Change -5.23% 3.52% 14.75%
% of Gross Profit 92.36% 93.83% 94.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.760M $5.780M $5.983M
YoY Change -10.42% -6.47% -2.72%
% of Gross Profit 12.23% 12.3% 11.33%
Operating Expenses $44.80M $45.50M $103.2M
YoY Change -6.08% 2.94% 128.88%
Operating Profit $2.255M $1.518M $3.015M
YoY Change -76.26% -77.34% -73.55%
Interest Expense $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
% of Operating Profit 4.43% 6.59% 3.32%
Other Income/Expense, Net $200.0K $0.00 $271.0K
YoY Change -300.0% -100.0% 171.0%
Pretax Income $2.500M $1.600M $3.286M
YoY Change -73.96% -76.81% -71.67%
Income Tax $900.0K $600.0K $1.354M
% Of Pretax Income 36.0% 37.5% 41.21%
Net Earnings $1.608M $1.013M $1.932M
YoY Change -71.29% -74.68% -72.4%
Net Earnings / Revenue 1.59% 1.02% 1.82%
Basic Earnings Per Share $0.06 $0.04 $0.08
Diluted Earnings Per Share $0.06 $0.04 $0.08
COMMON SHARES
Basic Shares Outstanding 24.69M shares
Diluted Shares Outstanding 24.85M shares

Balance Sheet

Concept 2012 Q3 2012 Q2 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $97.10M $92.10M $102.7M
YoY Change -6.36% 18.84% 17.64%
Cash & Equivalents $44.61M $58.52M $58.28M
Short-Term Investments $51.50M $33.60M $44.50M
Other Short-Term Assets $23.00M $19.60M $18.90M
YoY Change 21.05% 13.95% 9.88%
Inventory
Prepaid Expenses
Receivables $14.91M $13.40M $11.30M
Other Receivables $2.764M $0.00 $0.00
Total Short-Term Assets $135.0M $125.1M $132.9M
YoY Change 0.81% 12.3% -1.12%
LONG-TERM ASSETS
Property, Plant & Equipment $91.94M $89.80M $92.20M
YoY Change -8.43% -13.24% -13.18%
Goodwill $20.58M $20.58M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $4.000M $11.90M $14.20M
YoY Change -31.03% 32.22% 215.56%
Other Assets $10.55M $10.30M $7.600M
YoY Change 99.0% 98.08% 65.22%
Total Long-Term Assets $133.8M $132.6M $134.7M
YoY Change 1.25% -4.05% -0.88%
TOTAL ASSETS
Total Short-Term Assets $135.0M $125.1M $132.9M
Total Long-Term Assets $133.8M $132.6M $134.7M
Total Assets $268.8M $257.7M $267.6M
YoY Change 1.03% 3.25% -1.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.246M $6.500M $9.400M
YoY Change -19.16% 14.04% 80.77%
Accrued Expenses $8.247M $37.30M $35.20M
YoY Change -73.74% 14.07% -27.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $99.44M $91.20M $100.8M
YoY Change -5.92% -4.9% -17.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.266M $19.00M $19.00M
YoY Change -55.96% 15.15% 21.79%
Total Long-Term Liabilities $7.266M $19.00M $19.00M
YoY Change -55.96% 15.15% 21.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $99.44M $91.20M $100.8M
Total Long-Term Liabilities $7.266M $19.00M $19.00M
Total Liabilities $122.1M $110.3M $119.8M
YoY Change -2.03% -3.75% -14.85%
SHAREHOLDERS EQUITY
Retained Earnings $63.04M
YoY Change
Common Stock $167.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $83.92M
YoY Change
Treasury Stock Shares 5.331M shares
Shareholders Equity $146.4M $147.4M $147.7M
YoY Change
Total Liabilities & Shareholders Equity $268.2M $257.7M $267.5M
YoY Change 0.81% 3.25% -1.04%

Cashflow Statement

Concept 2012 Q3 2012 Q2 2012 Q1
OPERATING ACTIVITIES
Net Income $1.608M $1.013M $1.932M
YoY Change -71.29% -74.68% -72.4%
Depreciation, Depletion And Amortization $5.760M $5.780M $5.983M
YoY Change -10.42% -6.47% -2.72%
Cash From Operating Activities $9.280M -$6.340M $10.00M
YoY Change -64.91% -330.55% -41.62%
INVESTING ACTIVITIES
Capital Expenditures -$4.390M -$3.430M -$2.020M
YoY Change 44.88% -56.91% -82.68%
Acquisitions
YoY Change
Other Investing Activities -$14.25M $12.81M $2.820M
YoY Change 105.33% -223.05% -123.98%
Cash From Investing Activities -$18.63M $9.360M $810.0K
YoY Change 86.67% -150.98% -103.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.500M -2.780M -3.600M
YoY Change -7100.0% -3575.0% -820.0%
NET CHANGE
Cash From Operating Activities 9.280M -6.340M 10.00M
Cash From Investing Activities -18.63M 9.360M 810.0K
Cash From Financing Activities -3.500M -2.780M -3.600M
Net Change In Cash -12.85M 240.0K 7.210M
YoY Change -177.78% -101.55% -224.53%
FREE CASH FLOW
Cash From Operating Activities $9.280M -$6.340M $10.00M
Capital Expenditures -$4.390M -$3.430M -$2.020M
Free Cash Flow $13.67M -$2.910M $12.02M
YoY Change -53.63% -127.17% -58.25%

Facts In Submission

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CY2013 us-gaap Concentration Risk Credit Risk
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentration of Risk</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents, restricted cash, investments and receivables. As of September&#160;30, 2013, we held cash and cash equivalents of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$35.7 million</font><font style="font-family:inherit;font-size:10pt;"> and investments of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$61.7 million</font><font style="font-family:inherit;font-size:10pt;"> invested in pre-funded municipal bonds, collateralized by escrowed-to-maturity U.S. treasury notes, certificates of deposit issued by financial institutions and corporate bonds.</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We place our cash and cash equivalents with high quality financial institutions and limit the amount of credit exposure with any one financial institution. We mitigate the concentration risk of our investments by limiting the amount invested in any one issuer. We mitigate the risk associated with our investment in corporate bonds by requiring a minimum credit rating of A.</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We extend credit for tuition and fees, for a limited period of time, to a majority of our students. A substantial portion is repaid through the student&#8217;s participation in federally funded financial aid programs. Transfers of funds from the financial aid programs to us are made in accordance with the U.S. Department of Education (ED) requirements. Approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">68%</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">75%</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">75%</font><font style="font-family:inherit;font-size:10pt;"> of our revenues, on a cash basis, were collected from funds distributed under Title IV Programs for the years ended September&#160;30, 2013, 2012 and 2011, respectively. Additionally, approximately </font><font style="font-family:inherit;font-size:10pt;">18%</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">9%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">4%</font><font style="font-family:inherit;font-size:10pt;"> of our revenues, on a cash basis, were collected from funds distributed under various veterans benefits programs for the years ended September 30, 2013, 2012 and 2011, respectively. The financial aid and assistance programs are subject to political and budgetary considerations. There is no assurance that such funding will be maintained at current levels. Extensive and complex regulations govern the financial assistance programs in which our students participate. Our administration of these programs is periodically reviewed by various regulatory agencies. Any regulatory violation could be the basis for the initiation of potential adverse actions including a suspension, limitation, placement on reimbursement status, or termination proceeding which could have a material adverse effect on our business.</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If any of our institutions were to lose its eligibility to participate in federal student financial aid programs, the students at that institution would lose access to funds derived from those programs and would have to seek alternative sources of funds to pay their tuition and fees. Students obtain access to federal student financial aid through an ED prescribed application and eligibility certification process. Student financial aid funds are generally made available to students at prescribed intervals throughout their predetermined expected length of study. Students typically apply the funds received from the federal financial aid programs to pay their tuition and fees. The transfer of funds is from the financial aid program to the student, who then uses those funds to pay for a portion of the cost of their education. The receipt of financial aid funds reduces the student&#8217;s amounts due to us and has no impact on revenue recognition, as the transfer relates to the source of funding for the costs of education which may occur either through Title IV or other funds and resources available to the student.</font></div></div>
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1618000 USD
CY2013Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
224000 USD
CY2012Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
80000 USD
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16509000 USD
CY2013Q3 us-gaap Deferred Tax Liabilities
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12972000 USD
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8027000 USD
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8026000 USD
CY2013Q3 us-gaap Deferred Tax Liabilities Prepaid Expenses
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893000 USD
CY2012Q3 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
983000 USD
CY2012Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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7500000 USD
CY2013Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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4052000 USD
CY2011 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
1800000 USD
CY2012 us-gaap Defined Benefit Plan Contributions By Employer
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2000000 USD
CY2013 us-gaap Defined Benefit Plan Contributions By Employer
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1200000 USD
CY2011 us-gaap Depreciation
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19900000 USD
CY2013 us-gaap Depreciation
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18400000 USD
CY2012 us-gaap Depreciation
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19300000 USD
CY2011 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
24842000 USD
CY2012 us-gaap Depreciation Depletion And Amortization
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23819000 USD
CY2013 us-gaap Depreciation Depletion And Amortization
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22156000 USD
CY2013 us-gaap Dividends Common Stock Cash
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9820000 USD
CY2012 us-gaap Dividends Common Stock Cash
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7425000 USD
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0.16
CY2012 us-gaap Earnings Per Share Basic
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0.37
CY2011 us-gaap Earnings Per Share Basic
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1.10
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0.04
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0.01
CY2012Q2 us-gaap Earnings Per Share Basic
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0.04
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0.18
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0.08
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0.36
CY2011 us-gaap Earnings Per Share Diluted
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1.09
CY2013 us-gaap Earnings Per Share Diluted
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0.15
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-0.04
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0.01
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0.04
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0.14
CY2011Q4 us-gaap Earnings Per Share Diluted
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0.18
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0.06
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0.04
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0.08
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2013Q3 us-gaap Employee Related Liabilities Current
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16858000 USD
CY2012Q3 us-gaap Employee Related Liabilities Current
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24372000 USD
CY2012 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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224000 USD
CY2011 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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950000 USD
CY2013 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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262000 USD
CY2013Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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0 USD
CY2013 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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2427000 USD
CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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2532000 USD
CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2449000 USD
CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
178000 USD
CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
961000 USD
CY2013 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
6000 USD
CY2013Q3 us-gaap Equity Method Investment Ownership Percentage
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0.28
CY2013Q3 us-gaap Equity Method Investments
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4000000 USD
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
159000 USD
CY2011 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1081000 USD
CY2013 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
CY2011 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1081000 USD
CY2013 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0 USD
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
159000 USD
CY2013 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
600000 USD
CY2012 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-203000 USD
CY2013 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-184000 USD
CY2011 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-957000 USD
CY2013Q3 us-gaap Goodwill
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20579000 USD
CY2012Q3 us-gaap Goodwill
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20579000 USD
CY2011Q3 us-gaap Goodwill
Goodwill
20579000 USD
CY2013Q3 us-gaap Held To Maturity Securities
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61700000 USD
CY2012Q3 us-gaap Held To Maturity Securities Amortized Cost Before Other Than Temporary Impairment
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55988000 USD
CY2013Q3 us-gaap Held To Maturity Securities Amortized Cost Before Other Than Temporary Impairment
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61719000 USD
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51455000 USD
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57531000 USD
CY2012Q3 us-gaap Held To Maturity Securities Fair Value
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55990000 USD
CY2013Q3 us-gaap Held To Maturity Securities Fair Value
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61740000 USD
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4188000 USD
CY2012Q3 us-gaap Held To Maturity Securities Noncurrent
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4533000 USD
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
14962000 USD
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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45089000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6818000 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3008000 USD
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18192000 USD
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5930000 USD
CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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15781000 USD
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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5237000 USD
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2386000 USD
CY2012 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
217000 USD
CY2011 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
325000 USD
CY2013 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
119000 USD
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
476000 USD
CY2011 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2086000 USD
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
503000 USD
CY2013 us-gaap Income Taxes Paid
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7467000 USD
CY2012 us-gaap Income Taxes Paid
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15708000 USD
CY2011 us-gaap Income Taxes Paid
IncomeTaxesPaid
12615000 USD
CY2011 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-15009000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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3037000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-700000 USD
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-5674000 USD
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-8830000 USD
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-1882000 USD
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3279000 USD
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-665000 USD
CY2012 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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-1288000 USD
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1223000 USD
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1486000 USD
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1227000 USD
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2078000 USD
CY2011 us-gaap Increase Decrease In Other Operating Liabilities
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-953000 USD
CY2013 us-gaap Increase Decrease In Other Operating Liabilities
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1445000 USD
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-1486000 USD
CY2011 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-391000 USD
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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3520000 USD
CY2013 us-gaap Increase Decrease In Receivables
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1258000 USD
CY2012 us-gaap Increase Decrease In Receivables
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10109000 USD
CY2011 us-gaap Increase Decrease In Receivables
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1240000 USD
CY2012 us-gaap Increase Decrease In Restricted Cash
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0 USD
CY2011 us-gaap Increase Decrease In Restricted Cash
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0 USD
CY2013 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
3709000 USD
CY2013 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
189000 shares
CY2012 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
226000 shares
CY2011 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
313000 shares
CY2012 us-gaap Interest Expense
InterestExpense
4000 USD
CY2011 us-gaap Interest Expense
InterestExpense
6000 USD
CY2013 us-gaap Interest Expense
InterestExpense
1000 USD
CY2012 us-gaap Investment Income Interest
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306000 USD
CY2013 us-gaap Investment Income Interest
InvestmentIncomeInterest
235000 USD
CY2011 us-gaap Investment Income Interest
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258000 USD
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CY2013Q3 us-gaap Liabilities
Liabilities
140693000 USD
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279463000 USD
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CY2012Q3 us-gaap Liabilities Current
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99440000 USD
CY2013Q3 us-gaap Litigation Settlement Expense
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400000 USD
CY2012 us-gaap Loan Processing Fee
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1500000 USD
CY2013 us-gaap Loan Processing Fee
LoanProcessingFee
2000000 USD
CY2011 us-gaap Loan Processing Fee
LoanProcessingFee
900000 USD
CY2013 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Business Description</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Universal Technical Institute, Inc. (&#8220;UTI&#8221; or, collectively, &#8220;we&#8221; and &#8220;our&#8221;) provides postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. We offer undergraduate degree and diploma programs at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">11</font><font style="font-family:inherit;font-size:10pt;"> campuses and advanced training programs that are sponsored by the manufacturer or dealer at dedicated training centers. We work closely with leading original equipment manufacturers (OEMs) in the automotive, diesel, motorcycle and marine industries to understand their needs for qualified service professionals. Revenues generated from our schools consist primarily of tuition and fees paid by students. To pay for a substantial portion of their tuition, the majority of students rely on funds received from federal financial aid programs under Title IV Programs of the Higher Education Act of 1965, as amended (HEA). For further discussion, see Concentration of Risk and Note 16 &#8220;Governmental Regulation and Financial Aid&#8221;.</font></div></div>
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
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CY2011 us-gaap Net Cash Provided By Used In Financing Activities
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611000 USD
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-15980000 USD
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-16584000 USD
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
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-53987000 USD
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-20761000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
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26733000 USD
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
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58072000 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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18509000 USD
CY2013 us-gaap Net Income Loss
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3810000 USD
CY2011 us-gaap Net Income Loss
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26897000 USD
CY2012 us-gaap Net Income Loss
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9032000 USD
CY2013Q1 us-gaap Net Income Loss
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-920000 USD
CY2012Q4 us-gaap Net Income Loss
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3562000 USD
CY2013Q2 us-gaap Net Income Loss
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296000 USD
CY2013Q3 us-gaap Net Income Loss
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872000 USD
CY2012Q3 us-gaap Net Income Loss
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1608000 USD
CY2012Q1 us-gaap Net Income Loss
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1932000 USD
CY2012Q2 us-gaap Net Income Loss
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1013000 USD
CY2011Q4 us-gaap Net Income Loss
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4479000 USD
CY2011 us-gaap Nonoperating Income Expense
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543000 USD
CY2012 us-gaap Nonoperating Income Expense
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847000 USD
CY2013 us-gaap Nonoperating Income Expense
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889000 USD
CY2011 us-gaap Operating Expenses
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407354000 USD
CY2013 us-gaap Operating Expenses
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374339000 USD
CY2012 us-gaap Operating Expenses
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399437000 USD
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44546000 USD
CY2012 us-gaap Operating Income Loss
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14115000 USD
CY2013 us-gaap Operating Income Loss
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5929000 USD
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6006000 USD
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1404000 USD
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458000 USD
CY2012Q2 us-gaap Operating Income Loss
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1518000 USD
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2255000 USD
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3015000 USD
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7327000 USD
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209067000 USD
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29066000 USD
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23457000 USD
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23507000 USD
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27260000 USD
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28791000 USD
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76986000 USD
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28200000 USD
CY2013 us-gaap Operating Leases Rent Expense Minimum Rentals
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28900000 USD
CY2011 us-gaap Operating Leases Rent Expense Minimum Rentals
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28600000 USD
CY2013Q3 us-gaap Other Assets Noncurrent
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2192000 USD
CY2012Q3 us-gaap Other Liabilities Current
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1003000 USD
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8768000 USD
CY2012Q3 us-gaap Other Liabilities Noncurrent
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7266000 USD
CY2011 us-gaap Other Nonoperating Income Expense
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291000 USD
CY2013 us-gaap Other Nonoperating Income Expense
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655000 USD
CY2012 us-gaap Other Nonoperating Income Expense
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545000 USD
CY2012Q3 us-gaap Other Receivables Net Current
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2764000 USD
CY2013Q3 us-gaap Other Receivables Net Current
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3010000 USD
CY2013 us-gaap Payments For Postemployment Benefits
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2413000 USD
CY2011 us-gaap Payments For Repurchase Of Equity
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0 USD
CY2012 us-gaap Payments For Repurchase Of Equity
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1849000 USD
CY2013 us-gaap Payments For Repurchase Of Equity
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5422000 USD
CY2012 us-gaap Payments Of Dividends
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7425000 USD
CY2011 us-gaap Payments Of Dividends
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0 USD
CY2013 us-gaap Payments Of Dividends
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9820000 USD
CY2013 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1263000 USD
CY2011 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1739000 USD
CY2012 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1365000 USD
CY2013 us-gaap Payments To Acquire Held To Maturity Securities
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111848000 USD
CY2012 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
92503000 USD
CY2011 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
89538000 USD
CY2012 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
4000000 USD
CY2013 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
0 USD
CY2011 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
0 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9352000 USD
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29098000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11342000 USD
CY2012Q3 us-gaap Postemployment Benefits Liability Current And Noncurrent
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2151000 USD
CY2013Q3 us-gaap Postemployment Benefits Liability Current And Noncurrent
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1558000 USD
CY2013 us-gaap Postemployment Benefits Period Expense
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2157000 USD
CY2013Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.0001
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0.0001
CY2012Q3 us-gaap Preferred Stock Shares Authorized
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10000000 shares
CY2013Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2013Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q3 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2012Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15553000 USD
CY2012Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
14873000 USD
CY2011 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
CY2013 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
CY2012 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
615000 USD
CY2011 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1269000 USD
CY2013 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
525000 USD
CY2012 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
550000 USD
CY2012 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
90640000 USD
CY2011 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
64585000 USD
CY2013 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
104094000 USD
CY2013 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
54000 USD
CY2012 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6000 USD
CY2011 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
64000 USD
CY2012Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
219862000 USD
CY2013Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
246509000 USD
CY2012Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
91939000 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
103070000 USD
CY2012Q3 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P18Y
CY2013 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4762000 USD
CY2012 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5790000 USD
CY2011 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8679000 USD
CY2013Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
5748000 USD
CY2012Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
104000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
63036000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
57026000 USD
CY2013 us-gaap Revenue Recognition Leases Operating
RevenueRecognitionLeasesOperating
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Deferred Rent Liability</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We lease substantially all of our administrative and educational facilities under operating lease agreements. Some lease agreements contain tenant improvement allowances, free rent periods or rent escalation clauses. In instances where one or more of these items are included in a lease agreement, we record a deferred rent liability on the consolidated balance sheet and record rent expense evenly over the term of the lease.</font></div></div>
CY2013 us-gaap Sales Revenue Net
SalesRevenueNet
380268000 USD
CY2011 us-gaap Sales Revenue Net
SalesRevenueNet
451900000 USD
CY2012 us-gaap Sales Revenue Net
SalesRevenueNet
413552000 USD
CY2013Q2 us-gaap Sales Revenue Net
SalesRevenueNet
90954000 USD
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
98441000 USD
CY2013Q1 us-gaap Sales Revenue Net
SalesRevenueNet
95075000 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
95798000 USD
CY2012Q1 us-gaap Sales Revenue Net
SalesRevenueNet
106240000 USD
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
106427000 USD
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
99601000 USD
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
101284000 USD
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
187458000 USD
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
174799000 USD
CY2011 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
183726000 USD
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
6279000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
6224000 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
6492000 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
0 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
883000 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
24.33
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2500000 USD
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
500000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
95000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
25.68
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
107000 USD
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
999000 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
883000 shares
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
24.21
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
24.33
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
12.67
CY2013Q3 us-gaap Share Price
SharePrice
12.13
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 USD
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y2M12D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y2M12D
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y2M5D
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
200000 USD
CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
300000 USD
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
21000 shares
CY2011 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1269000 USD
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
550000 USD
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
525000 USD
CY2011Q4 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
25000000 USD
CY2013 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
561000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
705000 shares
CY2013 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
5422000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
7300000 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
138770000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
146085000 USD
CY2011Q3 us-gaap Stockholders Equity
StockholdersEquity
141423000 USD
CY2010Q3 us-gaap Stockholders Equity
StockholdersEquity
108041000 USD
CY2013Q3 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
7900000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
10.27
CY2013 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
9.62
CY2013Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
5892327 shares
CY2012Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
5330927 shares
CY2012Q3 us-gaap Treasury Stock Value
TreasuryStockValue
83924000 USD
CY2013Q3 us-gaap Treasury Stock Value
TreasuryStockValue
89346000 USD
CY2012 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1849000 USD
CY2013 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
5422000 USD
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions. Such estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates and assumptions, including those related to revenue recognition, our proprietary loan program, allowance for uncollectible accounts, investments, property and equipment, goodwill recoverability, bonus plans, self-insurance claim liabilities, income taxes, contingencies and stock-based compensation. We base our estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The results of our analysis form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions, and the impact of such differences may be material to our consolidated financial statements.</font></div></div>
CY2012Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
80000 USD
CY2010Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
0 USD
CY2011Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
110000 USD
CY2013Q3 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
224000 USD
CY2012 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
0 USD
CY2013 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
0 USD
CY2011 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
0 USD
CY2012 us-gaap Valuation Allowances And Reserves Period Increase Decrease
ValuationAllowancesAndReservesPeriodIncreaseDecrease
-30000 USD
CY2013 us-gaap Valuation Allowances And Reserves Period Increase Decrease
ValuationAllowancesAndReservesPeriodIncreaseDecrease
144000 USD
CY2011 us-gaap Valuation Allowances And Reserves Period Increase Decrease
ValuationAllowancesAndReservesPeriodIncreaseDecrease
110000 USD
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24704000 shares
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24740000 shares
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24937000 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24427000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24515000 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24711000 shares
CY2012Q3 uti Accrued Tool Sets
AccruedToolSets
4264000 USD
CY2013Q3 uti Accrued Tool Sets
AccruedToolSets
3971000 USD
uti Aggregate Tuition And Interest Income Excluded During Period
AggregateTuitionAndInterestIncomeExcludedDuringPeriod
43842000 USD
CY2011 uti Aggregate Tuition And Interest Income Excluded During Period
AggregateTuitionAndInterestIncomeExcludedDuringPeriod
2375000 USD
CY2013 uti Aggregate Tuition And Interest Income Excluded During Period
AggregateTuitionAndInterestIncomeExcludedDuringPeriod
14405000 USD
CY2012 uti Aggregate Tuition And Interest Income Excluded During Period
AggregateTuitionAndInterestIncomeExcludedDuringPeriod
9171000 USD
CY2013Q3 uti Amount Of Loans Committed To Provide
AmountOfLoansCommittedToProvide
85900000 USD
CY2012Q3 uti Amounts Outstanding Under Our Proprietary Loan Program
AmountsOutstandingUnderOurProprietaryLoanProgram
42880000 USD
CY2013Q3 uti Amounts Outstanding Under Our Proprietary Loan Program
AmountsOutstandingUnderOurProprietaryLoanProgram
59767000 USD
CY2011Q3 uti Amounts Outstanding Under Our Proprietary Loan Program
AmountsOutstandingUnderOurProprietaryLoanProgram
26863000 USD
CY2012 uti Change In Accrued Capital Expenditures
ChangeInAccruedCapitalExpenditures
933000 USD
CY2011 uti Change In Accrued Capital Expenditures
ChangeInAccruedCapitalExpenditures
-2434000 USD
CY2013 uti Change In Accrued Capital Expenditures
ChangeInAccruedCapitalExpenditures
-1088000 USD
CY2013 uti Common Stock Number Of Voting Rights Per Share
CommonStockNumberOfVotingRightsPerShare
1 vote
CY2011 uti Construction In Progress Financed By Construction Liability
ConstructionInProgressFinancedByConstructionLiability
0 USD
CY2012 uti Construction In Progress Financed By Construction Liability
ConstructionInProgressFinancedByConstructionLiability
2421000 USD
CY2013 uti Construction In Progress Financed By Construction Liability
ConstructionInProgressFinancedByConstructionLiability
25211000 USD
CY2013 uti Deferred Compensation Arrangement Maximum Contribution Per Employee Percentage Of Incentive Compensation
DeferredCompensationArrangementMaximumContributionPerEmployeePercentageOfIncentiveCompensation
1
CY2013 uti Deferred Compensation Arrangement Maximum Contribution Per Employee Percentage Of Regular Compensation
DeferredCompensationArrangementMaximumContributionPerEmployeePercentageOfRegularCompensation
0.75
CY2013 uti Deferred Compensation Arrangement With Individual Maximum Annual Deferrals Of Cash Compensation Per Individual Percent
DeferredCompensationArrangementWithIndividualMaximumAnnualDeferralsOfCashCompensationPerIndividualPercent
1.00
CY2013 uti Deferred Compensation Arrangement With Individual Vesting Period
DeferredCompensationArrangementWithIndividualVestingPeriod
P5Y
CY2013Q3 uti Deferred Tax Assets Related To State Net Operating Loss And Credit Carryforwards
DeferredTaxAssetsRelatedToStateNetOperatingLossAndCreditCarryforwards
500000 USD
CY2013Q3 uti Deposit Related To Proprietary Loan Program
DepositRelatedToProprietaryLoanProgram
1000000 USD
CY2013 uti Educational Services And Facilities
EducationalServicesAndFacilities
199540000 USD
CY2012 uti Educational Services And Facilities
EducationalServicesAndFacilities
211979000 USD
CY2011 uti Educational Services And Facilities
EducationalServicesAndFacilities
223628000 USD
CY2013 uti Expiration Period Of Postemployment Benefits Agreements
ExpirationPeriodOfPostemploymentBenefitsAgreements
2015-12
CY2012Q3 uti Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
13000 USD
CY2013Q3 uti Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
28000 USD
CY2012Q3 uti Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
11000 USD
CY2013Q3 uti Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
7000 USD
CY2012 uti Increase Decrease In Accrued Tool Sets And Other Current Liabilities
IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities
96000 USD
CY2013 uti Increase Decrease In Accrued Tool Sets And Other Current Liabilities
IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities
-896000 USD
CY2011 uti Increase Decrease In Accrued Tool Sets And Other Current Liabilities
IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities
-231000 USD
CY2012 uti Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
1147000 USD
CY2011 uti Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
6178000 USD
CY2013 uti Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-1014000 USD
CY2013Q3 uti Liability To Vendor For Vouchers Redeemed By Students
LiabilityToVendorForVouchersRedeemedByStudents
1100000 USD
CY2012Q3 uti Liability To Vendor For Vouchers Redeemed By Students
LiabilityToVendorForVouchersRedeemedByStudents
1900000 USD
CY2012 uti Loans Extended During Period Under Our Proprietary Loan Program
LoansExtendedDuringPeriodUnderOurProprietaryLoanProgram
20968000 USD
CY2013 uti Loans Extended During Period Under Our Proprietary Loan Program
LoansExtendedDuringPeriodUnderOurProprietaryLoanProgram
22004000 USD
CY2013 uti Maximum Maturity Period Of Liquid Investment
MaximumMaturityPeriodOfLiquidInvestment
P90D
CY2013 uti Maximum Tax Rebate For Property Taxes As Per Tax Increment Financing Arrangement
MaximumTaxRebateForPropertyTaxesAsPerTaxIncrementFinancingArrangement
6200000 USD
CY2013 uti Minimum Balance To Be Maintained In Credits Earned On Purchases
MinimumBalanceToBeMaintainedInCreditsEarnedOnPurchases
1000000 USD
CY2013Q3 uti Net Prepaid Expenses From Excess Of Credits Earned Over Credits Used
NetPrepaidExpensesFromExcessOfCreditsEarnedOverCreditsUsed
5700000 USD
CY2012Q3 uti Net Prepaid Expenses From Excess Of Credits Earned Over Credits Used
NetPrepaidExpensesFromExcessOfCreditsEarnedOverCreditsUsed
4000000 USD
CY2013 uti Number Of Campus Properties Leased From Related Party
NumberOfCampusPropertiesLeasedFromRelatedParty
2 Campus
CY2013Q3 uti Number Of Campuses
NumberOfCampuses
11 Campus
CY2011Q4 uti Number Of Existing Share Repurchase Plan
NumberOfExistingShareRepurchasePlan
2 plan
CY2012Q3 uti Number Of Impacted Employees Due To Reduction In Workforce
NumberOfImpactedEmployeesDueToReductionInWorkforce
50 employees
CY2013 uti Number Of Reporting Units
NumberOfReportingUnits
2 segment
CY2013 uti Operating Leases Rent Expense Paid To Related Parties
OperatingLeasesRentExpensePaidToRelatedParties
2500000 USD
CY2011 uti Operating Leases Rent Expense Paid To Related Parties
OperatingLeasesRentExpensePaidToRelatedParties
2400000 USD
CY2012 uti Operating Leases Rent Expense Paid To Related Parties
OperatingLeasesRentExpensePaidToRelatedParties
2500000 USD
CY2011 uti Percentage Of Cash Basis Revenue Collected From Funds Distributed Under Title Iv Programs
PercentageOfCashBasisRevenueCollectedFromFundsDistributedUnderTitleIvPrograms
0.75
CY2013 uti Percentage Of Cash Basis Revenue Collected From Funds Distributed Under Title Iv Programs
PercentageOfCashBasisRevenueCollectedFromFundsDistributedUnderTitleIvPrograms
0.68
CY2012 uti Percentage Of Cash Basis Revenue Collected From Funds Distributed Under Title Iv Programs
PercentageOfCashBasisRevenueCollectedFromFundsDistributedUnderTitleIvPrograms
0.75
CY2012 uti Percentageof Cash Basis Revenue Collectedfrom Funds Distributed Under Veterans Benefits Programs
PercentageofCashBasisRevenueCollectedfromFundsDistributedUnderVeteransBenefitsPrograms
0.09
CY2011 uti Percentageof Cash Basis Revenue Collectedfrom Funds Distributed Under Veterans Benefits Programs
PercentageofCashBasisRevenueCollectedfromFundsDistributedUnderVeteransBenefitsPrograms
0.04
CY2013 uti Percentageof Cash Basis Revenue Collectedfrom Funds Distributed Under Veterans Benefits Programs
PercentageofCashBasisRevenueCollectedfromFundsDistributedUnderVeteransBenefitsPrograms
0.18
CY2013 uti Post Employment Benefits Other Non Cash Settlement
PostEmploymentBenefitsOtherNonCashSettlement
-337000 USD
CY2012 uti Proprietary Loan Program Interest Accrued During Period
ProprietaryLoanProgramInterestAccruedDuringPeriod
2975000 USD
CY2013 uti Proprietary Loan Program Interest Accrued During Period
ProprietaryLoanProgramInterestAccruedDuringPeriod
3455000 USD
CY2013 uti Revenue Consisted Of Tuition
RevenueConsistedOfTuition
0.98
CY2011 uti Revenue Consisted Of Tuition
RevenueConsistedOfTuition
0.98
CY2012 uti Revenue Consisted Of Tuition
RevenueConsistedOfTuition
0.98
CY2013 uti Share Based Compensation Market Shares Measurement Period One
ShareBasedCompensationMarketSharesMeasurementPeriodOne
P36M
CY2012 uti Sharebased Compensation Liability Noncash
SharebasedCompensationLiabilityNoncash
0 USD
CY2011 uti Sharebased Compensation Liability Noncash
SharebasedCompensationLiabilityNoncash
0 USD
CY2013 uti Sharebased Compensation Liability Noncash
SharebasedCompensationLiabilityNoncash
310000 USD
CY2013Q3 uti Supplemental Unemployment Benefits Continuation Of Salary And Health Care
SupplementalUnemploymentBenefitsContinuationOfSalaryAndHealthCare
3800000 USD
CY2011 uti Training Equipment Credits Earned Used
TrainingEquipmentCreditsEarnedUsed
-1501000 USD
CY2013 uti Training Equipment Credits Earned Used
TrainingEquipmentCreditsEarnedUsed
-1926000 USD
CY2012 uti Training Equipment Credits Earned Used
TrainingEquipmentCreditsEarnedUsed
-1127000 USD
CY2013 uti Training Equipment Obtained In Exchange For Services
TrainingEquipmentObtainedInExchangeForServices
1164000 USD
CY2011 uti Training Equipment Obtained In Exchange For Services
TrainingEquipmentObtainedInExchangeForServices
1399000 USD
CY2012 uti Training Equipment Obtained In Exchange For Services
TrainingEquipmentObtainedInExchangeForServices
1921000 USD
uti Tuition And Interest Amounts Written Off
TuitionAndInterestAmountsWrittenOff
20995000 USD
CY2011 uti Tuition And Interest Amounts Written Off
TuitionAndInterestAmountsWrittenOff
5926000 USD
CY2012 uti Tuition And Interest Amounts Written Off
TuitionAndInterestAmountsWrittenOff
6352000 USD
CY2013 uti Tuition And Interest Amounts Written Off
TuitionAndInterestAmountsWrittenOff
6295000 USD
uti Tuition And Interest Income Actual Cash Receipts
TuitionAndInterestIncomeActualCashReceipts
5022000 USD
CY2011 uti Tuition And Interest Income Actual Cash Receipts
TuitionAndInterestIncomeActualCashReceipts
857000 USD
CY2013 uti Tuition And Interest Income Actual Cash Receipts
TuitionAndInterestIncomeActualCashReceipts
2277000 USD
CY2012 uti Tuition And Interest Income Actual Cash Receipts
TuitionAndInterestIncomeActualCashReceipts
1574000 USD
uti Tuition And Interest Income Excluded
TuitionAndInterestIncomeExcluded
69859000 USD
CY2013 uti Tuition And Interest Income Excluded
TuitionAndInterestIncomeExcluded
22977000 USD
CY2011 uti Tuition And Interest Income Excluded
TuitionAndInterestIncomeExcluded
9158000 USD
CY2012 uti Tuition And Interest Income Excluded
TuitionAndInterestIncomeExcluded
17097000 USD
CY2013Q3 uti Tuition Receivables
TuitionReceivables
12545000 USD
CY2012Q3 uti Tuition Receivables
TuitionReceivables
16254000 USD
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0001261654
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
24643520 shares
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2013Q1 dei Entity Public Float
EntityPublicFloat
327361000 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
UNIVERSAL TECHNICAL INSTITUTE INC.
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2013 dei Trading Symbol
TradingSymbol
UTI

Files In Submission

Name View Source Status
0001261654-13-000036-index-headers.html Edgar Link pending
0001261654-13-000036-index.html Edgar Link pending
0001261654-13-000036.txt Edgar Link pending
0001261654-13-000036-xbrl.zip Edgar Link pending
consent.htm Edgar Link pending
ex211subsidiariesofregistr.htm Edgar Link pending
exhibit105.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
stockgraphfinal.jpg Edgar Link pending
uti-09302013x10k.htm Edgar Link pending
uti-20130930.xml Edgar Link completed
uti-20130930.xsd Edgar Link pending
uti-20130930_cal.xml Edgar Link unprocessable
uti-20130930_def.xml Edgar Link unprocessable
uti-20130930_lab.xml Edgar Link unprocessable
uti-20130930_pre.xml Edgar Link unprocessable