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LINCOLN EDUCATIONAL SERVICES CORP (LINC)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K10-K10-K10-K/A10-K
REVENUE  348.3335.3293.1273.3 261.9285.6306.1
            REVENUE growth  3.9%14.4%7.2% -100.0%-8.3%-6.7%40.4%
COSTS AND EXPENSES:          
Educational services and facilities  148.7138.9122.2123.5 129.4 151.6
Selling, general and administrative  182.4168.9156.2145.2 138.8148.4151.8
Gain on sale of assets  -0.2-22.5-0.1-0.6 -1.60.21.7
    Total costs & expenses  332.0286.1278.3268.1 266.6314.5305.4
    OPERATING INCOME  16.349.314.85.2 -4.7-28.90.7
            Operating margin  4.7%14.7%5.0%1.9% -1.8%-10.1%0.2%
   
OTHER:          
Interest income  0.3  0.0 0.10.20.1
Interest expense  -0.2-2.0-1.3-3.0 -7.1 -8.0
    INCOME (LOSS) BEFORE INCOME TAXES  16.447.213.52.3 -11.8 -3.1
PROVISION (BENEFIT) FOR INCOME TAXES  3.812.5-35.10.3 -0.30.20.2
    NET INCOME  12.634.748.62.0-11.5-11.5-28.3-3.4
PREFERRED STOCK DIVIDENDS  1.11.21.4     
    INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS  11.533.547.22.0    
   
Basic          
Net income (loss) per common share (in dollars per share)  $0.36$1.04$1.49$0.08($0.48)($0.48)($1.21)($0.14)
   
Diluted          
Net income (loss) per common share (in dollars per share)  $0.36$1.04$1.49$0.08($0.48)($0.48)($1.21)($0.14)
   
Weighted average number of common shares outstanding:          
Basic (in shares)  25.925.124.724.623.923.923.523.2
Diluted (in shares)  25.925.124.724.623.923.923.523.2

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