Grand canyon education, inc. (LOPE)
Income statement / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Net revenue

803,011

778,643

742,944

705,109

767,107

845,501

939,371

1,020,126

1,001,609

974,134

947,379

921,614

894,592

873,344

844,635

827,584

811,031

778,200

752,219

733,882

717,750

691,055

663,525

640,868

623,737

598,335

0

0

0

-

-

-

-

426,741

413,767

403,804

398,008

385,625

0

0

0

Costs and expenses:
Technology and academic services

98,164

90,512

76,482

63,352

51,502

43,574

43,215

42,608

42,150

41,834

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Counseling services and support

230,724

223,598

215,630

210,497

207,036

204,690

202,914

197,898

193,030

188,595

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Instructional costs and services

-

-

-

-

-

-

-

-

-

-

-

-

-

373,101

363,428

354,860

345,618

329,651

315,776

304,310

296,800

288,791

278,210

271,200

265,100

254,419

245,267

237,917

229,576

220,403

212,223

203,802

196,750

194,801

189,597

186,381

191,059

178,844

0

0

0

Admissions advisory and related

-

-

-

-

-

-

-

-

-

-

-

-

-

119,286

116,585

115,277

113,783

112,572

111,985

111,803

110,639

108,567

105,953

103,207

100,345

97,077

94,132

91,896

88,919

85,917

0

0

0

-

-

-

-

-

-

-

-

Advertising

-

-

-

-

-

-

-

-

-

-

-

-

-

88,152

85,571

81,035

77,305

76,229

74,664

71,795

69,127

65,808

63,992

62,999

61,768

60,985

58,955

56,366

53,313

51,023

0

0

0

-

-

-

-

-

-

-

-

Marketing and communication

149,622

142,896

136,285

130,491

124,860

117,420

116,395

112,979

110,310

109,092

85,248

59,245

33,927

8,860

8,455

8,155

7,835

7,287

7,119

7,223

7,342

7,439

7,156

6,524

6,000

5,644

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

119,955

117,327

114,182

115,449

112,493

0

0

0

General and administrative

42,485

44,317

40,864

37,400

33,946

29,968

29,248

27,499

27,543

27,157

31,442

36,529

39,532

43,219

43,593

42,699

43,424

42,100

41,913

41,017

40,477

39,635

40,058

37,453

37,437

36,934

37,760

37,286

36,009

35,502

31,834

30,418

29,755

29,043

28,748

28,211

27,349

26,621

0

0

0

Amortization of intangible assets

8,642

8,223

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

University related expenses

-

-

-

-

-

173,330

260,091

336,972

331,246

324,140

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on transaction

-

3,966

4,736

20,346

21,908

18,370

18,162

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease termination costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

782

0

0

0

-

-

-

-

Contract termination fees to related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

Exit costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

258

0

0

0

Total costs and expenses

529,515

513,512

479,636

472,115

526,619

587,352

670,025

720,508

705,391

691,380

679,273

666,134

649,452

636,141

620,995

602,026

587,965

567,839

551,457

536,148

524,385

510,240

495,369

481,383

470,650

455,059

441,544

428,795

412,683

397,205

378,847

364,730

351,969

344,581

345,853

338,060

343,259

327,449

0

0

0

Operating income

273,496

265,131

263,308

232,994

240,488

258,149

269,346

299,618

296,218

282,754

268,106

255,480

245,140

237,203

223,640

225,558

223,066

210,361

200,762

197,734

193,365

180,815

168,156

159,485

153,087

143,276

135,646

129,564

123,473

114,052

104,117

93,575

90,194

82,160

67,914

65,744

54,749

58,176

0

0

0

Interest income on Secured Note

60,272

59,297

58,124

55,164

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense

10,271

11,311

8,943

6,626

3,776

1,536

1,488

1,497

1,935

2,169

2,139

1,916

1,579

1,328

1,245

1,214

1,202

1,248

1,180

1,443

1,653

1,801

2,064

2,016

2,099

2,244

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Interest and other income

3,482

4,385

4,563

4,679

3,578

3,440

3,676

4,750

3,922

2,943

2,385

-1,351

-1,797

249

-641

1,851

1,685

-106

892

734

804

684

481

1,940

1,805

3,863

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Income before income taxes

326,979

317,502

317,052

286,211

280,972

287,000

284,782

302,871

298,205

283,528

268,352

252,213

241,764

236,124

221,754

226,195

223,549

209,007

200,474

197,025

192,516

179,698

166,573

159,409

152,793

144,895

137,529

130,335

124,569

113,424

103,326

92,772

89,440

81,528

67,516

65,353

54,236

57,455

0

0

0

Income tax expense

69,662

58,327

59,015

52,564

52,399

57,989

63,046

75,592

77,117

80,209

85,310

79,231

81,003

87,610

83,105

83,448

82,652

77,596

74,084

74,961

73,159

68,232

62,043

61,350

58,739

56,184

54,066

50,946

48,646

43,977

39,464

34,513

33,906

30,982

26,044

26,007

21,029

22,249

0

0

0

Net income

257,317

259,175

258,037

233,647

228,573

229,011

221,736

227,279

221,088

203,319

183,042

172,982

160,761

148,514

138,649

142,747

140,897

131,411

126,390

122,064

119,357

111,466

104,530

98,059

94,054

88,711

83,463

79,389

75,923

69,447

63,862

58,259

55,534

50,546

41,472

39,346

33,207

35,206

0

0

0

Earnings per share:
Basic income per share

1.50

1.61

1.21

1.07

1.54

1.58

0.71

0.97

1.55

1.44

0.83

0.85

1.20

1.03

0.63

0.60

0.96

0.83

0.72

0.56

0.75

0.72

0.64

0.51

0.58

0.58

0.50

0.43

0.47

0.47

0.42

0.35

0.33

0.35

0.29

0.29

0.21

0.14

0.23

0.15

0.25

Diluted income per share

1.49

1.59

1.20

1.06

1.52

1.56

0.70

0.95

1.52

1.41

0.81

0.83

1.16

1.01

0.62

0.59

0.93

0.81

0.70

0.55

0.72

0.70

0.62

0.49

0.56

0.56

0.49

0.42

0.46

0.46

0.41

0.35

0.32

0.34

0.29

0.29

0.21

0.13

0.23

0.14

0.25

Basic weighted average shares outstanding

47,455

47,758

47,920

47,851

47,699

47,708

47,682

47,604

47,432

47,342

47,316

47,151

46,748

46,470

46,231

46,004

45,622

46,035

46,063

46,012

45,789

45,652

45,651

45,598

45,205

45,026

44,963

44,681

44,242

44,167

44,365

44,447

44,371

44,317

44,302

44,658

45,590

45,743

45,746

45,724

45,674

Diluted weighted average shares outstanding

47,764

48,112

48,337

48,313

48,274

48,422

48,422

48,411

48,397

48,382

48,292

48,192

48,070

47,452

47,175

46,990

46,860

47,337

47,320

47,263

47,201

47,097

47,051

46,990

46,841

46,712

46,424

45,929

45,449

45,364

45,339

45,169

45,151

44,868

44,787

45,018

46,089

46,346

46,351

46,557

46,325

Service [Member]
Net revenue

-

778,643

742,944

705,109

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

University Related Revenue [Member]
Net revenue

-

-

-

-

-

512,499

783,917

1,020,126

1,001,609

974,134

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-