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XML - IDEA: XBRL DOCUMENT - National American University Holdings, Inc.R10.htm
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v2.4.0.6
Segment Reporting
3 Months Ended
Aug. 31, 2012
Segment Reporting [Abstract]  
SEGMENT REPORTING
9. SEGMENT REPORTING

Operating segments are defined as business areas or lines of an enterprise about which financial information is available and evaluated on a regular basis by the chief operating decision makers, or decision-making groups, in deciding how to allocate capital and other resources to such lines of business.

The Company operates two operating and reportable segments: NAU and other. The NAU segment contains the revenues and expenses associated with the University operations and the allocated portion of corporate overhead. The other segment contains primarily real estate. These operating segments are divisions of the Company for which separate financial information is available and evaluated regularly by executive management in deciding how to allocate resources and in assessing performance.

General administrative costs of the Company are allocated to specific divisions of the Company.

The majority of the Company’s revenue is derived from the NAU segment, which provides undergraduate and graduate education programs. NAU derives its revenue primarily from student tuition. The other division operates multiple apartment and condominium complexes and derives its revenues primarily from condominium sales and rental income (in thousands).

 

 

                                                 
    Three Months Ended August 31, 2012     Three Months Ended August 31, 2011  
    NAU     Other     Consolidated
Total
    NAU     Other     Consolidated
Total
 

Revenue:

                                               

Academic revenue

  $ 26,477     $ 0     $ 26,477     $ 23,700     $ 0     $ 23,700  

Auxiliary revenue

    2,699       0       2,699       1,427       0       1,427  

Rental income — apartments

    0       274       274       0       270       270  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total revenue

    29,176       274       29,450       25,127       270       25,397  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating expenses:

                                               

Cost of educational services

    7,135       0       7,135       6,352       0       6,352  

Selling, general & administrative

    19,989       432       20,421       16,356       419       16,775  

Auxiliary expense

    1,843       0       1,843       640       0       640  

Loss (gain) on disposition of property

    6       67       73       9       (141     (132
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

    28,973       499       29,472       23,357       278       23,635  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from operations

    203       (225     (22     1,770       (8     1,762  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Other income (expense):

                                               

Interest income

    28       3       31       38       3       41  

Interest expense

    (253     0       (253     0       0       0  

Other income — net

    0       35       35       0       31       31  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total other (expense) income

    (225     38       (187     38       34       72  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

(Loss) income before taxes

  $ (22   $ (187   $ (209   $ 1,808     $ 26     $ 1,834  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     
    As of August 31, 2012     As of May 31, 2012  
                Consolidated                 Consolidated  
    NAU     Other     Total     NAU     Other     Total  

Total assets

  $ 70,309     $ 12,586     $ 82,895     $ 70,404     $ 12,694     $ 83,098