Grand canyon education, inc. (LOPE)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Net revenue

778,643

845,501

974,134

873,344

778,200

691,055

598,335

511,257

426,741

385,625

261,902

Costs and expenses:
Technology and academic services

90,512

43,574

41,834

39,101

-

-

-

-

-

-

-

Counseling services and support

223,598

204,690

188,595

175,045

-

-

-

-

-

-

-

Instructional costs and services

-

-

-

-

329,651

288,791

254,419

220,403

194,801

178,844

101,904

Admissions advisory and related

-

-

-

-

112,572

108,567

97,077

85,917

70,758

-

-

Advertising

-

-

-

-

76,229

65,808

60,985

51,023

45,587

-

-

Marketing and communication

142,896

117,420

109,092

98,592

7,287

7,439

5,644

4,360

3,610

-

-

Selling and promotional, including $2,328 in 2012; $877 in 2011; and $8,777 in 2010, to related parties

-

-

-

-

-

-

-

-

-

112,493

85,405

General and administrative

44,317

29,968

27,157

28,079

42,100

39,635

36,934

35,502

29,043

26,621

21,603

Amortization of intangible assets

8,223

-

-

-

-

-

-

-

-

-

-

University related expenses

-

173,330

324,140

294,188

-

-

-

-

-

-

-

Loss on transaction

3,966

18,370

562

1,136

-

-

-

-

-

-

-

Lease termination costs

-

-

-

-

-

-

-

-

782

-

-

Litigation loss

-

-

-

-

-

-

-

-

-

-

-5,200

Contract termination fees to related party

-

-

-

-

-

-

-

-

-

9,233

-

Exit costs

-

-

-

-

-

-

-

-

-

258

1,218

Total costs and expenses

513,512

587,352

691,380

636,141

567,839

510,240

455,059

397,205

344,581

327,449

215,330

Operating income

265,131

258,149

282,754

237,203

210,361

180,815

143,276

114,052

82,160

58,176

46,572

Interest income on Secured Note

59,297

26,947

-

-

-

-

-

-

-

-

-

Interest expense

11,311

1,536

2,169

1,328

1,248

1,801

2,244

699

720

889

1,613

Interest and other income

4,385

3,440

2,943

249

-106

684

3,863

71

88

-

-

Income before income taxes

317,502

287,000

283,528

236,124

209,007

179,698

144,895

113,424

81,528

57,455

45,283

Interest income

-

-

-

-

-

-

-

-

-

168

324

Income tax expense

58,327

57,989

80,209

87,610

77,596

68,232

56,184

43,977

30,982

22,249

17,979

Net income

259,175

229,011

203,319

148,514

131,411

111,466

88,711

69,447

50,546

35,206

27,304

Earnings per share:
Basic income per share

5.42

4.81

4.31

3.22

2.86

2.45

1.98

1.57

1.13

0.77

0.60

Diluted income per share

5.37

4.73

4.22

3.15

2.78

2.37

1.92

1.53

1.12

0.76

0.60

Basic weighted average shares outstanding

47,814

47,608

47,140

46,083

45,975

45,538

44,731

44,332

44,631

45,722

45,184

Diluted weighted average shares outstanding

48,266

48,414

48,235

47,121

47,281

47,006

46,131

45,251

45,105

46,396

45,503

Service [Member]
Net revenue

778,643

333,002

-

-

-

-

-

-

-

-

-

University Related Revenue [Member]
Net revenue

-

512,499

974,134

873,344

-

-

-

-

-

-

-