| Aug'19 | Aug'18 | Aug'17 | Aug'16 | Aug'15 | Aug'14 | Aug'13 | Aug'12 | Aug'11 | Aug'10 |
|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||
Net income (loss) | |||||||||
-1,023 | -5,887 | -7,172 | 7,016 | 11,116 | 18,067 | 14,319 | 7,841 | 4,807 | -518 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
11,359 | 10,525 | 7,443 | 6,943 | 7,875 | 7,326 | 6,131 | 5,698 | 7,107 | 7,429 |
Amortization of capitalized curriculum costs | |||||||||
4,954 | 5,280 | 3,745 | 3,865 | 4,093 | 2,824 | 1,891 | 1,816 | 1,639 | 2,083 |
Stock-based compensation expense | |||||||||
4,789 | 2,846 | 3,658 | 3,121 | 2,536 | 3,534 | 3,589 | 3,835 | 2,788 | 1,099 |
Gain on sale of discontinued operation | |||||||||
- | - | - | - | - | - | - | - | - | -1,092 |
Deferred income taxes | |||||||||
1,051 | 2,535 | 5,594 | -1,854 | -3,665 | 679 | 1,739 | -2,708 | -2,092 | -2,406 |
Impairment of assets | |||||||||
- | - | - | - | 1,302 | 363 | - | - | - | - |
Excess tax benefit from stock-based compensation | |||||||||
- | - | -168 | 52 | -137 | -2,477 | - | - | - | - |
Excess income tax benefits from share-based compensation | |||||||||
- | - | - | - | - | - | 903 | - | - | - |
Change in fair value of contingent consideration liabilities | |||||||||
1,334 | 1,014 | -1,936 | 1,538 | 35 | -1,579 | - | - | - | - |
Loss on disposal of assets | |||||||||
- | - | - | - | - | - | 17 | -36 | -101 | -75 |
Changes in assets and liabilities, net of effect of acquired business: | |||||||||
Decrease in accounts receivable, net | |||||||||
1,770 | 5,679 | -164 | 576 | 4,355 | 9,548 | 15,171 | 5,810 | 1,288 | 7,597 |
Decrease in inventories | |||||||||
260 | -157 | -1,583 | 908 | -2,239 | 2,136 | 358 | -96 | -382 | -606 |
Decrease in receivable from related party | |||||||||
-535 | -213 | -1,421 | -820 | -620 | -2,248 | 692 | 1,349 | 688 | 3,059 |
Decrease (increase) in prepaid expenses and other assets | |||||||||
-32 | 1,335 | 4,861 | 1,119 | 2,010 | 1,543 | 122 | 39 | -2,128 | 174 |
Decrease in accounts payable and accrued liabilities | |||||||||
2,932 | 1,746 | 676 | 2,264 | -5,654 | 359 | 6,173 | -197 | -3,534 | 5,060 |
Increase in deferred revenue | |||||||||
8,828 | 11,613 | 19,142 | 8,112 | 2,481 | 3,287 | - | - | - | - |
Increase (decrease) in income taxes payable/receivable | |||||||||
889 | 109 | -249 | -316 | 2,548 | -1,347 | 1,504 | 587 | 65 | 699 |
Decrease in other long-term liabilities | |||||||||
-1,096 | -1,206 | -495 | -1 | -164 | -575 | 923 | 340 | 44 | 7 |
Net cash provided by (used for) operating activities | |||||||||
- | - | - | - | 26,190 | 18,124 | 15,528 | - | - | - |
Net cash provided by operating activities | |||||||||
30,452 | 16,861 | 17,357 | 32,665 | - | - | - | 15,562 | 15,643 | 7,024 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||
Purchases of property and equipment | |||||||||
4,153 | 6,528 | 7,187 | 3,993 | 2,446 | 3,470 | 2,174 | 2,279 | 2,326 | 1,384 |
Curriculum development costs | |||||||||
2,688 | 2,998 | 6,466 | 2,236 | 2,166 | 7,787 | 3,224 | 2,113 | 3,097 | 712 |
Acquisition of business, net of cash acquired | |||||||||
32 | 1,108 | 7,272 | - | 262 | 6,167 | 4,185 | - | 5,411 | 3,256 |
Acquisition of license rights | |||||||||
- | - | 750 | - | - | - | - | - | - | - |
Net cash used for investing activities | |||||||||
- | - | - | - | -4,874 | -17,424 | -9,583 | - | - | - |
Proceeds from sale of discontinued operation | |||||||||
- | - | - | - | - | - | - | - | - | 3,350 |
Net cash used for investing activities | |||||||||
-6,873 | -10,634 | -21,675 | -6,229 | - | - | - | -4,392 | -10,834 | -2,002 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||
Proceeds from line of credit borrowings | |||||||||
82,282 | 93,391 | 34,320 | 46,454 | - | 35,331 | - | 8,523 | 67,462 | 54,705 |
Payments on line of credit borrowings | |||||||||
93,619 | 86,431 | 29,943 | 46,454 | - | 35,331 | - | 8,523 | 76,994 | 58,123 |
Proceeds from term notes payable financing | |||||||||
20,000 | - | 10,000 | 15,000 | - | - | - | - | 5,000 | 1,154 |
Principal payments on term notes payable | |||||||||
12,813 | 6,250 | 5,000 | 937 | - | - | 2,708 | 2,292 | - | 1,096 |
Principal payments on financing obligation | |||||||||
2,092 | 1,868 | 1,662 | 1,472 | 1,302 | 1,155 | 1,022 | 895 | 673 | 654 |
Purchases of common stock for treasury | |||||||||
12 | 2,006 | 5,431 | 43,586 | 14,427 | 4,381 | 1,309 | 440 | 218 | 50 |
Payment of contingent consideration liabilities | |||||||||
653 | 2,323 | - | 2,167 | - | - | - | - | - | - |
Income tax benefit recorded in paid-in capital | |||||||||
- | - | 168 | -52 | 137 | 2,477 | - | - | - | - |
Income tax benefits recorded in paid-in capital | |||||||||
- | - | - | - | - | - | 903 | - | - | - |
Proceeds from sales of common stock held in treasury | |||||||||
975 | 808 | 682 | 679 | 689 | 614 | 495 | 435 | 328 | 288 |
Exercise of common stock warrants | |||||||||
- | - | - | - | - | - | 55 | - | - | - |
Management stock loan activity | |||||||||
- | - | - | - | - | - | 138 | - | - | - |
Net cash provided by financing activities | |||||||||
- | - | - | - | -14,903 | -2,445 | -3,834 | - | - | - |
Proceeds from management stock loan payments | |||||||||
- | - | - | - | - | - | - | - | - | 159 |
Net cash used for financing activities | |||||||||
-5,932 | -4,679 | 3,134 | -32,535 | - | - | - | -3,192 | -5,095 | -3,617 |
Effect of foreign currency exchange rates on cash and cash equivalents | |||||||||
-101 | -319 | -348 | 321 | -662 | -63 | -831 | 17 | -182 | 391 |
Net increase (decrease) in cash and cash equivalents | |||||||||
17,546 | 1,229 | -1,532 | - | - | - | - | - | - | - |
Net increase in cash and cash equivalents | |||||||||
- | - | - | -5,778 | 5,751 | -1,808 | 1,280 | 7,995 | -468 | 1,796 |
Supplemental disclosure of cash flow information: | |||||||||
Cash paid for income taxes | |||||||||
1,778 | 2,512 | 2,562 | 3,410 | 2,383 | 6,323 | 3,996 | 2,330 | 1,825 | 428 |
Cash paid for interest | |||||||||
2,386 | 2,655 | 2,314 | 2,231 | 2,130 | - | - | - | - | - |
Cash paid for interest | |||||||||
- | - | - | - | - | 2,237 | 2,322 | 2,473 | 2,702 | 2,862 |
Non-cash investing and financing activities: | |||||||||
Purchases of property and equipment financed by accounts payable | |||||||||
410 | 1,018 | 697 | 334 | 134 | 104 | 101 | 481 | 143 | 95 |
Consideration for business acquisition from liabilities of acquiree | |||||||||
798 | - | - | - | - | - | 2,250 | - | - | - |