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LINCOLN EDUCATIONAL SERVICES CORP
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font-weight: bold; text-align: center;">December 31,</div>2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Credit agreement (a)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">7,500</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; 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padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">25,944</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; 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margin-left: 7.2pt; text-indent: -7.2pt;">Less current maturities</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(7,962</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; 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text-align: left; width: 1%; background-color: #ffffff;"> </td></tr></table><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">(a)<font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;"> </font>On April 5, 2012, the Company, <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">as borrower, and certain of its wholly-owned subsidiaries, as guarantors, entered into a secured revolving credit agreement with a syndicate of four lenders led by Bank of America, N.A., as administrative agent and letter of credit issuer (the “Credit Facility”).  The April 5, 2012 agreement, along with subsequent amendments dated June 18, 2013 and December 20, 2013, are collectively referred to as the “Credit Agreement.”</font></div><div style="text-align: justify;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">As of December 31, 2013, the aggregate principal amount available under the Credit Facility was $60 million.  Under the terms of the Credit Agreement, amended January 16, 2014, this amount was reduced to $40 million.  <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">The Credit Facility may be used to finance capital expenditures and permitted acquisitions, to pay transaction expenses, for the issuance of letters of credit and for general corporate purposes.  The Credit Agreement includes a $25 million letter of credit sublimit.   The term of the Credit Facility is 36 months, maturing on April 5, 2015.</font></div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Credit Agreement provides that the lenders will receive first priority lien on substantially all of the tangible and intangible non-real property assets of the Company and its subsidiaries as well as a first priority lien on substantially all real property owned by the Company and its subsidiaries and that all net proceeds of future sales of real property by the Company and its subsidiaries be used to prepay revolving loans and permanently reduce the principal amount of revolving loans available under the Credit Facility.</div><div><br /></div><div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Amounts borrowed as revolving loans under the Credit Facility will bear interest, at the Company’s option, at either (i) an interest rate based on LIBOR and adjusted for any reserve percentage obligations under Federal Reserve Bank regulations (the “Eurodollar Rate”) for specified interest periods or (ii) the Base Rate (as defined in the Credit Agreement), in each case, plus an applicable margin rate as determined under the Credit Agreement.  The “Base Rate”, as defined under the Credit Agreement, is the highest of (a) the rate of interest announced from time to time by Bank of America, N.A. as its prime rate, (b) the Federal Funds rate plus 0.50% and (c) a daily rate equal to the one-month LIBOR rate plus 1.0%.  Pursuant to the Credit Agreement, the margin interest rate is subject to adjustment within a range of 2.50% to 6.00% based upon changes in the Company’s consolidated leverage ratio and depending on whether the Company has chosen the Eurodollar Rate or the Base Rate option.  <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">Letters of credit will require a fee equal to the applicable margin rate multiplied by the daily amount available to be drawn under each issued letter of credit plus an agreed upon fronting fee and customary issuance, presentation, amendment and other processing fees associated with letters of credit.</font></div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">At September 30, 2014, the Company had outstanding letters of credit aggregating $5.3 million, which were primarily comprised of letters of credit for the Department of Education, or DOE, matters and real estate leases<font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">.</font></div></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Credit Agreement contains representations, warranties and covenants including consolidated adjusted net worth, consolidated leverage ratio, consolidated fixed charge coverage ratio, minimum financial responsibility composite score, cohort default rate and other financial covenants, certain restrictions on capital expenditures as well as affirmative and negative covenants and events of default customary for facilities of this type.  In addition, the Company is paying fees to the lenders that are customary for facilities of this type.  As of September 30, 2014 the Company is in compliance with all financial covenants.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: justify;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">During the three months ended September 30, 2014 the Company had net repayments of $7.5 under the Credit Facility.  The Company had $7.5 million outstanding under the Credit Facility as of September 30, 2014.  The interest rates on these borrowings ranged from 4.2% to 7.3%.  The Company had $54.5 million outstanding under the Credit Agreement as of December 31, 2013 which was repaid on January 3, 2014.  The interest rate on this borrowing was 7.3%.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">(b) The Company completed a sale and a leaseback of several facilities on December 28, 2001. The Company retains a continuing involvement in the lease and, as a result, it is prohibited from utilizing sale-leaseback accounting. Accordingly, the Company has treated this transaction as a finance lease. The lease expires on December 31, 2016.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">(c) In 2009, the Company assumed real estate capital leases in Fern Park, Florida and Hartford, Connecticut.  These leases bear interest at 8% and expire in 2032 and 2031, respectively.</div><div><br /></div><div>Scheduled maturities of long-term debt and lease obligations at September 30, 2014 are as follows:</div><div> </div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 50%;"><tr><td valign="bottom" style="vertical-align: bottom; width: 38%;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><u>Year ending December 31,</u></div></td><td valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom;"></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2014</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">7,962</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2015</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">515</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2016</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">10,405</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2017</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">794</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2018</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">860</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Thereafter</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,257</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 38%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">42,793</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr></table></div>
0.005
0.08
175000
1163000
-4528000
-144000
34858000
30195000
0
4528000
500000
100000
200000
100000
700000
200000
1522000
1111000
17570000
14756000
7261000
-18000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr style="vertical-align: top;"><td style="vertical-align: top; width: 36pt; align: right;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: left;">3.</div></td><td style="vertical-align: top; width: auto; align: left;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: left;">DISCONTINUED OPERATIONS</div></td></tr></table></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: justify;">On June 18, 2013, the Company’s Board of Directors approved a plan to cease operations at four campuses in Ohio and one campus in Kentucky consisting of the Company’s Dayton institution and its branch campuses.  Federal legislation implemented on July 1, 2012 that prohibits “ability to benefit” students from participating in federal student financial aid programs led to a dramatic decrease in the number of students attending these five campuses.  Accordingly, the Company ceased operations at these campuses as of December 31, 2013.  The results of operations of these campuses are reflected as discontinued operations in the consolidated financial statements.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: justify;">The results of operations at these five campuses for the three and nine months ended September 30, 2013 was as follows (in thousands):<br />  </div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 80%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 56%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Three Months Ended </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">September 30,</div>2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">September 30,</div>2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Revenue</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(18</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">7,261</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 56%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Operating expenses</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(3,898</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(19,322</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 56%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Operating loss</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(3,916</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(12,061</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr></table><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Amounts include impairments of goodwill and long-lived assets for these campuses of $2.3 million for the nine months ended September 30, 2013.</div></div>
0
3841000
0
0
3841000
0
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="vertical-align: top; width: 36pt; align: right;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: left;">2.</div></td><td style="vertical-align: top; width: auto;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: left;">WEIGHTED AVERAGE COMMON SHARES</div></td></tr></table></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The weighted average number of common shares used to compute basic and diluted loss per share for the three and nine months ended September 30, 2014 and 2013 was as follows:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 90%;"><tr><td valign="bottom" style="vertical-align: bottom; width: 42%;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="6" valign="bottom" style="vertical-align: bottom;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Three Months Ended</div>September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="6" valign="bottom" style="vertical-align: bottom;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended</div>September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 42%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">2014</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">2014</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 42%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Basic shares outstanding</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,843,247</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,528,478</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,789,254</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,480,308</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 42%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Dilutive effect of stock options</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">282,678</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 42%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Diluted shares outstanding</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,843,247</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,811,156</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,789,254</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,480,308</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr></table><div> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">For the three months ended September 30, 2014 and 2013, options to acquire 132,595 and 282,678 shares, respectively, were excluded from the above table because the Company reported a net loss for each quarter and therefore their impact on reported loss per share would have been antidilutive.  For the nine months ended September 30, 2014 and 2013, options to acquire 121,269 and 234,073 shares, respectively, were excluded from the above table because the Company reported a net loss for this period and therefore their impact on reported loss per share would have been antidilutive.  For the three and nine months ended September 30, 2014 and 2013, options to acquire 476,625 and 785,768 shares, respectively, were excluded from the above table because they have an exercise price that is greater than the average market price of the Company’s common stock and therefore their impact on reported loss per share would have been antidilutive.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">In 2011 and 2013, the Company issued performance shares that vest when certain performance conditions are satisfied.  As of September 30, 2014, these performance conditions were not met.  As a result, the Company has determined these shares to be contingently issuable.  Accordingly, 398,250 shares of outstanding performance shares have been excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2014, and 441,552 shares have been excluded for the three and nine months ended September 30, 2013.  Refer to Note 6 for more information on performance shares.</div></div>
-1.67
-2.67
-0.10
-0.85
-1.67
-0.10
-0.85
-2.67
0.388
0.13
0.49
0.073
6800000
4500000
P1Y3M4D
100000
20000
P0Y
P10Y
P7Y
1124000
335000
200000
550000
0
310000
1000
21000
228000
828000
68000
458000
253000
0
92000
0
57000
149000
65000
22000
20000
508000
61000
508000
61000
0
301000
38954000
39000000
3100000
62465000
23511000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; width: 36pt; align: right;">4.</td><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; text-align: left; width: auto;">GOODWILL AND LONG-LIVED ASSETS</td></tr></table></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Company reviews long-lived assets for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">The Company concluded as of September 30, 2014</font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">,</font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;"> there was sufficient evidence to conclude that there were impairments of certain long-lived assets at six of the Company’s campuses.  Long-lived assets had been tested at these campuses as a result of certain financial indicators such as the Company’s history of losses, current respective period losses, as well as future projected losses at these campuses.  The long-lived assets impairment resulted in a pre-tax charge of $1.9 million for leasehold improvements and $0.5 million for intangible assets as of September 30, 2014.</font></div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">The Company concluded as of June 30, 201</font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">3,</font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;"> there was sufficient evidence to conclude that there were impairments of certain long-lived assets at two of the Company’s campuses.  Long-lived assets had been tested at these campuses as a result of certain financial indicators such as the Company’s history of losses, current respective period losses, as well as future projected losses at these campuses.  The long-lived assets impairment resulted in a pre-tax charge of $1.4 million (of which $0.7 million is included in discontinued operations) and $1.7 million (of which $1.6 million is included in discontinued operations) for leasehold improvements as of June 30, 2013 and March 31, 2013, respectively.</font></div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Company reviews goodwill and intangible assets for impairment when indicators of impairment exist.  Annually, or more frequently if necessary, the Company evaluates goodwill and intangible assets with indefinite lives for impairment, with any resulting impairment reflected as an operating expense.   The Company concluded that as of September 30, 2014 there was an indicator of potential impairment as a result of a decrease in market capitalization and, accordingly, the Company tested goodwill for impairment.  The test indicated that 10 of the Company’s reporting units were impaired, which resulted in a pre-tax non-cash charge of $39.0 million for the three months ended September 30, 2014.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">As of June 30, 2013, the Company concluded that current period losses at two reporting units, which resulted in a deterioration of current and projected cash flows, was an indicator of potential impairment and, accordingly, tested goodwill for impairment.  The test indicated that these two reporting units were impaired, which resulted in a pre-tax non-cash charge of $3.1 million for the three months ended June 30, 2013.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The carrying amount of goodwill at September 30, 2014 is as follows:</div><div style="text-align: left;"><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 80%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 44%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: center;">Gross Goodwill Balance</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: center;">Accumulated Impairment Losses</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: center;">Net Goodwill Balance</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 44%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Balance as of January 1, 2014</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">117,176</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(54,711</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">62,465</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 44%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Impairment</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(38,954</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(38,954</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 44%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Balance as of September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">117,176</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(93,665</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">23,511</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr></table><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Intangible assets, which are included in other assets in the accompanying condensed consolidated balance sheets, consist of the following:</div><div> </div><div><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Indefinite Trade Name</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Trade Name</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Accreditation</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Curriculum</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Non-compete</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Total</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Gross carrying amount at December 31, 2013</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">180</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">335</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,166</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,124</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">200</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">3,005</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 28%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Impairment</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(180</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(25</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(102</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(574</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(200</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(1,081</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 28%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Gross carrying amount at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">310</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,064</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">550</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,924</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Accumulated amortization at December 31, 2013</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">228</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">828</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">68</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,124</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Amortization</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">37</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">78</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">27</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">142</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 28%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Impairment</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(12</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(448</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(95</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(555</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 28%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Accumulated amortization at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">253</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">458</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">711</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 28%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Net carrying amount at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">57</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,064</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">92</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,213</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Weighted average amortization period (years)</div></td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">7</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: center;">Indefinite</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">10</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td></tr></table><br /> Amortization of intangible assets was less than $0.1 million and $0.1 million for the three months ended September 30, 2014 and 2013, and approximately $0.1 million and $0.2 million for the nine months ended September 30, 2014 and 2013.</div><div> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The following table summarizes the estimated future amortization expense:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 50%;"><tr><td valign="bottom" style="vertical-align: bottom; width: 38%;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: left;"><u>Year Ending December 31,</u></div></td><td valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom;"></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%;"> </td></tr><tr style="height: 12px;"><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Remainder of 2014</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">21</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2015</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">65</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2016</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2017</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2018</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Thereafter</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 38%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">149</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr></table></div>
54711000
93665000
117176000
117176000
180000
102000
1081000
574000
25000
200000
-1.67
0
-0.53
-2.67
-11893000
-60771000
77000
-38081000
0
0
-0.10
-0.32
-43747000
151000
-19419000
-65576000
-1.67
0
-0.53
-2.67
-7248000
0
0
-2353000
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0
0
-5666000
74000
-7526000
-4805000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; width: 36pt; align: right;">7.</td><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; text-align: left; width: auto;">INCOME TAXES</td></tr></table></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">The benefit for income taxes for the three months ended September 30, 2014 was $5.7 million, or 13.0% of pretax loss, compared to a provision for income taxes of $0.1 million, or 49.0%, of pretax income for the quarter ended September 30, 2013. </font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;"> </font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">The benefit for </font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">income taxes for the nine months ended September 30, 2014 was $4.8 million, or 7.3% of pretax loss, compared to a benefit for income taxes of $7.5 million, or 38.8%, of pretax loss for the nine months ended September 30, 2013.</font></div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Previously, the company had a deferred tax liability related to an indefinite life intangible that was not available to offset the net deferred tax asset of the Company when evaluating the amount of the valuation allowance needed.  As a result of the Company’s impairment of goodwill this quarter, the deferred tax liability related to the indefinite life intangible reversed resulting in a decrease in the valuation allowance needed. This release of the valuation allowance resulted in an income tax benefit.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets.  A significant piece of objective negative evidence was the cumulative losses incurred by the Company in recent years.  On the basis of this evaluation the realization of the Company’s deferred tax assets was not deemed to be more likely than not and thus the Company maintained a valuation allowance on its net deferred tax assets as of September 30, 2014.</div></div>
120000
375000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Income Taxes </font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">– The Company</font> accounts for income taxes in accordance with FASB ASC Topic 740, “<font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-style: italic;">Income Taxes</font>” (“ASC 740”). This statement requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statement and tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for years in which taxes are expected to be paid or recovered.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">In accordance with ASC 740, the Company assesses its deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable.  A valuation allowance is required to be established or maintained when, based on currently available information, it is more likely than not that all or a portion of a deferred tax asset will not be realized. In accordance with ASC 740, the Company’s assessment considers whether there has been sufficient income in recent years and whether sufficient income is expected in future years in order to utilize the deferred tax asset. In evaluating the realizability of deferred income tax assets, the Company considered, among other things, historical levels of income, expected future income, the expected timing of the reversals of existing temporary reporting differences, and the expected impact of tax planning strategies that may be implemented to prevent the potential loss of future income tax benefits. Significant judgment is required in determining the future tax consequences of events that have been recognized in the Company’s consolidated financial statements and/or tax returns.  Differences between anticipated and actual outcomes of these future tax consequences could have a material impact on the Company’s consolidated financial position or results of operations.  Changes in, among other things, income tax legislation, statutory income tax rates, or future income levels could materially impact the Company’s valuation of income tax assets and liabilities and could cause the Company’s income tax provision to vary significantly among financial reporting periods.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense.  During the three and nine months ended September 30, 2014 and 2013, the interest and penalties expense associated with uncertain tax positions did not materially impact the Company’s results of operations or financial position.</div></div>
15508000
19516000
-2795000
-5026000
4370000
5672000
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864000
1144000
4663000
18000
561000
-47000
-297000
-650000
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282678
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1166000
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1064000
1213000
4131000
1088000
3382000
1637000
3082000
3315000
2222000
2269000
125000
53000
20000
37000
5300000
2016-12-31
68501000
56581000
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195447000
1333000
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160753000
112151000
7500000
54500000
54500000
25000000
60000000
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40000000
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89681000
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54500000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; width: 36pt; align: right;">8.</td><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; text-align: left; width: auto;">CONTINGENCIES</td></tr></table></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">In the ordinary conduct of its business, the Company is subject to lawsuits, investigations and claims, including, but not limited to, claims involving students or graduates and routine employment matters. Although the Company cannot predict with certainty the ultimate resolution of lawsuits, investigations and claims asserted against it, the Company does not believe that any currently pending legal proceedings to which it is a party will have a material adverse effect on the Company’s business, financial condition, and results of operations or cash flows.</div></div>
-38081000
-60771000
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0
-60771000
0
0
0
-2784000
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3224000
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-9337000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">New Accounting Pronouncements </font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">–</font>In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-style: italic;">Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists</font>. The amendments in this ASU provide guidance on the financial statement presentation of unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this ASU did not materially impact the presentation of the Company’s financial condition, results of operation and disclosures.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">In April 2014, FASB issued amended guidance on the use and presentation of discontinued operations in an entity's consolidated financial statements. The new guidance restricts the presentation of discontinued operations to business circumstances when the disposal of business operations represents a strategic shift that has or will have a major effect on an entity's operations and financial results. The guidance becomes effective on January 1, 2015. Adoption is on a prospective basis.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">In May 2014, FASB issued a new standard related to revenue recognition, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard will replace most of the existing revenue recognition standards in GAAP when it becomes effective on January 1, 2017. Early adoption is not permitted.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is assessing the potential impact of the new standard on financial reporting and has not yet selected a transition method.</div></div>
15
19322000
3898000
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1219000
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<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="vertical-align: top; width: 36pt; align: right;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: left;">1.</div></td><td style="vertical-align: top; width: auto;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: left;">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</div></td></tr></table></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Business Activities</font> – Lincoln Educational Services Corporation and Subsidiaries (the “Company”) is a provider of diversified career-oriented post-secondary education. The Company offers recent high school graduates and working adults career-oriented programs in five areas of study: Automotive Technology, Health Sciences, Skilled Trades, Hospitality Services and Business and Information Technology. The Company currently has 31 campuses and five training sites in 15 states across the United States.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">For the last several years, the Company<font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;"> and the proprietary school sector</font> has faced various forms of adversity which have contributed to deteriorating earnings growth. Government regulations have negatively impacted earnings by making it more difficult for potential students to obtain loans, which when coupled with the overall economic environment have hindered potential students from enrolling in our schools. In light of these factors, the Company has incurred significant operating losses as a result of lower student population. The Company also experienced a significant decline in market capitalization during the quarter ended September 30, 2014. Despite these events, management believes that its likely sources of cash should be sufficient to fund operations for the next twelve months. <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">The Company's available sources of cash primarily include results of operations, cash and cash equivalents and available borrowings under the revolving line of credit. </font>The Company's revolving credit facility expires in April 2015. To fund the Company's business plans, including any anticipated future losses, purchase commitments, capital expenditures, and principal and interest payments on borrowings, the Company has the ability to leverage <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">up to $ 50 million of </font>its existing properties. In addition, the Company is also continuing to take actions to improve cash flow by aligning its cost structure to its student population. However, if the Company is unable to leverage certain of its properties and improve operating performance, the Company's business plans may be adversely affected and the Company will have to modify its business plans to conserve available cash.</div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Basis of Presentation</font> – The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America (“GAAP”).  Certain information and footnote disclosures normally included in annual financial statements have been omitted or condensed pursuant to such regulations.  These statements, which should be read in conjunction with the December 31, 2013 consolidated financial statements of the Company, reflect all adjustments, consisting of normal recurring adjustments and impairments necessary to present fairly the consolidated financial position, results of operations and cash flows for such periods.  The results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014.</div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries.  All significant intercompany accounts and transactions have been eliminated.</div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Use of Estimates in the Preparation of Financial Statements</font> – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period.  On an ongoing basis, the Company evaluates the estimates and assumptions including those related to revenue recognition, bad debts, fixed assets, goodwill and other intangible assets, stock-based compensation, income taxes, benefit plans and certain accruals and contingencies.  Actual results could differ from those estimates.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">New Accounting Pronouncements </font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">–</font>In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-style: italic;">Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists</font>. The amendments in this ASU provide guidance on the financial statement presentation of unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this ASU did not materially impact the presentation of the Company’s financial condition, results of operation and disclosures.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">In April 2014, FASB issued amended guidance on the use and presentation of discontinued operations in an entity's consolidated financial statements. The new guidance restricts the presentation of discontinued operations to business circumstances when the disposal of business operations represents a strategic shift that has or will have a major effect on an entity's operations and financial results. The guidance becomes effective on January 1, 2015. Adoption is on a prospective basis.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">In May 2014, FASB issued a new standard related to revenue recognition, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard will replace most of the existing revenue recognition standards in GAAP when it becomes effective on January 1, 2017. Early adoption is not permitted.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is assessing the potential impact of the new standard on financial reporting and has not yet selected a transition method.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Stock-Based Compensation</font> – The Company measures the value of stock options on the grant date at fair value, using the Black-Scholes option valuation model.  The Company amortizes the fair value of stock options, net of estimated forfeitures, utilizing straight-line amortization of compensation expense over the requisite service period of the grant. </div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Company measures the value of service and performance-based restricted stock on the fair value of a share of common stock on the date of the grant. The Company amortizes the fair value of service-based restricted stock utilizing straight-line amortization of compensation expense over the requisite service period of the grant.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Company amortizes the fair value of the performance-based restricted stock based on the determination of the probable outcome of the performance condition.  If the performance condition is expected to be met, then the Company amortizes the fair value of the number of shares expected to vest utilizing straight-line basis over the requisite performance period of the grant.  However, if the associated performance condition is not expected to be met, then the Company does not recognize the stock-based compensation expense.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Income Taxes </font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">– The Company</font> accounts for income taxes in accordance with FASB ASC Topic 740, “<font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-style: italic;">Income Taxes</font>” (“ASC 740”). This statement requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statement and tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for years in which taxes are expected to be paid or recovered.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">In accordance with ASC 740, the Company assesses its deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable.  A valuation allowance is required to be established or maintained when, based on currently available information, it is more likely than not that all or a portion of a deferred tax asset will not be realized. In accordance with ASC 740, the Company’s assessment considers whether there has been sufficient income in recent years and whether sufficient income is expected in future years in order to utilize the deferred tax asset. In evaluating the realizability of deferred income tax assets, the Company considered, among other things, historical levels of income, expected future income, the expected timing of the reversals of existing temporary reporting differences, and the expected impact of tax planning strategies that may be implemented to prevent the potential loss of future income tax benefits. Significant judgment is required in determining the future tax consequences of events that have been recognized in the Company’s consolidated financial statements and/or tax returns.  Differences between anticipated and actual outcomes of these future tax consequences could have a material impact on the Company’s consolidated financial position or results of operations.  Changes in, among other things, income tax legislation, statutory income tax rates, or future income levels could materially impact the Company’s valuation of income tax assets and liabilities and could cause the Company’s income tax provision to vary significantly among financial reporting periods.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense.  During the three and nine months ended September 30, 2014 and 2013, the interest and penalties expense associated with uncertain tax positions did not materially impact the Company’s results of operations or financial position.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Reclassifications </font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">– </font>During the nine months ended September 30, 2014, the Company reclassified amounts reflected in the 2013 consolidated balance sheet, to conform to the revised 2014 classification.  For the year ended December 31, 2013, the Company had reported $89.7 million in long-term debt and lease obligations on the consolidated balance sheet.  The Company reclassified $54.5 million of long-term credit agreement, $25.5 million of long-term capital lease obligations, and $9.7 million of long-term finance obligations into their own liability classifications on the consolidated balance sheet.</div></div>
338000
0
0
338000
0
0
4498000
2647000
149000
0
149000
18000
627000
746000
723000
693000
-113000
-450000
-338000
-150000
112000
389000
5028000
3841000
4796000
3531000
112000
0
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; width: 36pt; align: right;">9.</td><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; text-align: left; width: auto;">PENSION PLAN</td></tr></table></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Company sponsors a noncontributory defined benefit pension plan covering some of the Company's employees who were employed by the Company prior to 1995. Benefits are provided based on employees' years of service and earnings. This plan was frozen on December 31, 1994. The total amount of the Company's contributions paid under its pension plan was $0.2 million for the nine months ended September 30, 2014 and $0.7 million for the nine months ended September 30, 2013. The net periodic benefit cost was less than $0.1 million <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">and $0.2 million </font>for the three months ended September 30, 2014 and 2013<font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">, respectively,</font> and $0.1 million and $0.5 million for the nine months ended September 30, 2014 and 2013 respectively.</div></div>
0
0
0
0
0
0
10000000
10000000
0
0
8517000
1356000
2683000
3013000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Reclassifications </font><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">– </font>During the nine months ended September 30, 2014, the Company reclassified amounts reflected in the 2013 consolidated balance sheet, to conform to the revised 2014 classification.  For the year ended December 31, 2013, the Company had reported $89.7 million in long-term debt and lease obligations on the consolidated balance sheet.  The Company reclassified $54.5 million of long-term credit agreement, $25.5 million of long-term capital lease obligations, and $9.7 million of long-term finance obligations into their own liability classifications on the consolidated balance sheet.</div></div>
0
54500000
5000000
17500000
67000
747000
127332000
117173000
-37000
-62000
11836000
11539000
308000
323000
64500000
42500000
0
54500000
66064000
1452000
17.55
20.48
14.48
10.05
0
17.55
13.84
9.63
20.48
P4Y0M25D
P3Y9M14D
P4Y6M22D
P4Y1M20D
P2Y5M23D
P4Y1M20D
P5Y4M10D
P3Y11M1D
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The following table summarizes the estimated future amortization expense:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 50%;"><tr><td valign="bottom" style="vertical-align: bottom; width: 38%;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: left;"><u>Year Ending December 31,</u></div></td><td valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom;"></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%;"> </td></tr><tr style="height: 12px;"><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Remainder of 2014</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">21</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2015</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">65</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2016</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2017</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2018</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Thereafter</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 38%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">149</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr></table></div>
December 28, 2001
84658000
241777000
256548000
88527000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The fair value of the stock options used to compute stock-based compensation is the estimated present value at the date of grant using the Black-Scholes option pricing model.  The following is a summary of transactions pertaining to stock options:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 55%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Shares</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Exercise Price Per Share</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 9%;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Remaining Contractual Term</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Aggregate Intrinsic Value (in thousands)</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Outstanding at December 31, 2013</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">547,125</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">14.73</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: right;"> 4.56 years</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Canceled</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(70,500</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20.76</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 55%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Outstanding at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">476,625</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">13.84</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: right;"> 4.14 years</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 55%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Vested or expected to vest</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">467,493</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">13.96</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: right;"> 4.07 years</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 55%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Exercisable as of September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">430,965</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">14.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: right;"> 3.79 years</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The following is a summary of transactions pertaining to restricted stock:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 90%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 66%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Shares</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Grant Date Fair Value Per Share</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Nonvested restricted stock outstanding at December 31, 2013</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,247,946</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">6.77</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Granted</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">229,955</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">3.83</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Canceled</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(150,372</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">9.00</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Vested</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(156,694</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">4.52</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 66%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 66%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Nonvested restricted stock outstanding at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,170,835</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">5.80</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The weighted average number of common shares used to compute basic and diluted loss per share for the three and nine months ended September 30, 2014 and 2013 was as follows:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 90%;"><tr><td valign="bottom" style="vertical-align: bottom; width: 42%;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="6" valign="bottom" style="vertical-align: bottom;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Three Months Ended</div>September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="6" valign="bottom" style="vertical-align: bottom;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended</div>September 30,</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 42%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">2014</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">2014</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 42%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Basic shares outstanding</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,843,247</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,528,478</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,789,254</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,480,308</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 42%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Dilutive effect of stock options</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">282,678</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 42%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Diluted shares outstanding</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,843,247</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,811,156</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,789,254</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,480,308</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Long-term debt and lease obligations consist of the following:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 90%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 66%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">September 30,</div>2014</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">December 31,</div>2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Credit agreement (a)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">7,500</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">54,500</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Finance obligation (b)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">9,672</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">9,672</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 66%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Capital lease-property (rate of 8.0%) (c)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">25,621</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">25,944</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">42,793</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">90,116</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 66%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Less current maturities</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(7,962</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(435</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 66%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">34,831</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">89,681</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: justify;">The results of operations at these five campuses for the three and nine months ended September 30, 2013 was as follows (in thousands):<br />  </div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 80%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 56%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Three Months Ended </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">September 30,</div>2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Nine Months Ended </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">September 30,</div>2013</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 56%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Revenue</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(18</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">7,261</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 56%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Operating expenses</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(3,898</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(19,322</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 56%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Operating loss</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(3,916</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(12,061</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr></table></div>
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The carrying amount of goodwill at September 30, 2014 is as follows:</div><div style="text-align: left;"><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 80%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 44%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: center;">Gross Goodwill Balance</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: center;">Accumulated Impairment Losses</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: center;">Net Goodwill Balance</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 44%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Balance as of January 1, 2014</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">117,176</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(54,711</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">62,465</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 44%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Impairment</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(38,954</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(38,954</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 44%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Balance as of September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">117,176</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(93,665</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">23,511</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr></table></div>
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The following table presents a summary of stock options outstanding:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 100%;"><tr><td colspan="2" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="18" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">At September 30, 2014</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td></tr><tr><td colspan="2" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="10" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Stock Options Outstanding</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="6" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Stock Options Exercisable</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td></tr><tr><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; margin-left: 7.2pt; text-indent: -7.2pt;">Range of Exercise Prices</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Shares</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Contractual Weighted Average Life (years)</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Price</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Shares</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Exercise Price</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">4.00-$13.99</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">244,792</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">5.36</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">9.63</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">199,132</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">10.05</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">14.00-$19.99</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">173,333</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">2.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">17.55</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">173,333</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">17.55</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr style="height: 14px;"><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20.00-$25.00</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">58,500</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">3.92</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">58,500</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">476,625</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">4.14</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">13.84</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">430,965</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">14.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr></table></div>
43232000
42280000
134634000
138892000
229955
3.83
1247946
1170835
2455000
2486000
156694
P3Y
P4Y
P4Y
6.77
5.80
9.00
150372
4.52
430965
20.76
70500
14.73
13.84
14.48
547125
476625
467493
0
0
13.96
0
244792
476625
58500
173333
199132
58500
430965
173333
25.00
19.99
13.99
14.00
4.00
20.00
27682
60552
27682
79582
60552
27682
112000
0
0
0
0
112000
0
2408000
0
0
2408000
0
83296000
145196000
141377000
24177000
-3562000
66064000
-82860000
-82860000
141377000
-3224000
1452000
26551000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; width: 36pt; align: right;">6.</td><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; text-align: left; width: auto;">STOCKHOLDERS’ EQUITY</td></tr></table></div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic; text-align: left;">Restricted Stock</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The Company has two stock incentive plans:  a Long-Term Incentive Plan (the “LTIP”) and a Non-Employee Directors Restricted Stock Plan <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(the “Non-Employee Directors Plan”).</font></div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Under the LTIP, certain employees received awards of restricted shares of common stock based on service and performance.  The number of shares granted to each employee is based on the fair market value of a share of common stock on the date of grant.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">All service-based restricted shares granted prior to February 23, 2011 vest ratably on the first through fifth anniversaries of the grant date.  The service-based restricted shares granted on or after February 23, 2011 vest ratably on the grant date and the first through fourth anniversaries of the grant date.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">On June 2, 2014, performance-based shares were granted which vest over three years based upon the attainment of (i) a specified operating income margin during any one or more of the fiscal years in the period beginning January 1, 2015 and ending December 31, 2017 and (ii) the attainment of earnings before interest, taxes, depreciation and amortization targets during each of the fiscal years ended December 31, 2015 through 2017.  There is no vesting period on the right to vote or the right to receive dividends on any of the restricted shares.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">On April 29, 2013, performance-based shares were granted which vest over four years based upon the attainment of (i) a specified operating income margin during any one or more of the fiscal years in the period beginning January 1, 2013 and ending December 31, 2016 and (ii) the attainment of earnings before interest, taxes, depreciation and amortization targets during each of the fiscal years ended December 31, 2013 through 2016.  There is no vesting period on the right to vote or the right to receive dividends on any of the restricted shares.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">On April 29, 2011, performance-based shares were granted which vest over four years based upon the attainment of (i) a specified operating income margin during any one or more of the fiscal years in the period beginning January 1, 2011 and ending December 31, 2014 and (ii) the attainment of earnings before interest, taxes, depreciation and amortization targets during each of the fiscal years ended December 31, 2011 through 2014.  There is no vesting period on the right to vote or the right to receive dividends on any of the restricted shares.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Pursuant to the Non-Employee Directors Plan, each non-employee director of the Company receives an annual award of restricted shares of common stock on the date of the Company’s annual meeting of shareholders.  The number of shares granted to each non-employee director is based on the fair market value of a share of common stock on that date.  The restricted shares vest on the first anniversary of the grant date; however, there is no vesting period on the right to vote or the right to receive dividends on these restricted shares.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">For the nine months ended September 30, 2014 and 2013, the Company completed a net share settlement for 27,682 and 60,552 restricted shares, respectively, on behalf of certain employees that participate in the LTIP upon the vesting of the restricted shares pursuant to the terms of the LTIP.  The net share settlement was in connection with income taxes incurred on restricted shares that vested and were transferred to the employee during 2014 and/or 2013, creating taxable income for the employee.   At the employees’ request, the Company will pay these taxes on behalf of the employees in exchange for the employees returning an equivalent value of restricted shares to the Company.  These transactions resulted in a decrease of approximately $0.1 million and $0.4 million for the nine months ended September 30, 2014 and 2013, respectively, to equity on the consolidated balance sheets as the cash payment of the taxes effectively was a repurchase of the restricted shares granted in previous years.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The following is a summary of transactions pertaining to restricted stock:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 90%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 66%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Shares</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Grant Date Fair Value Per Share</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Nonvested restricted stock outstanding at December 31, 2013</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,247,946</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">6.77</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Granted</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">229,955</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">3.83</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Canceled</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(150,372</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">9.00</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 66%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Vested</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(156,694</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">4.52</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 66%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 66%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Nonvested restricted stock outstanding at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,170,835</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">5.80</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr></table><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The restricted stock expense for the three months ended September 30, 2014 and 2013 was $0.8 million and $0.1 million, respectively. The restricted stock expense for the nine months ended September 30, 2014 and 2013 was $2.4 million and $2.3 million, respectively. The unrecognized restricted stock expense as of September 30, 2014 and December 31, 2013 was $4.5 million and $6.8 million, respectively.  As of September 30, 2014, outstanding restricted shares under the LTIP had aggregate intrinsic value of $3.3 million.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic; text-align: left;">Stock Options</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The fair value of the stock options used to compute stock-based compensation is the estimated present value at the date of grant using the Black-Scholes option pricing model.  The following is a summary of transactions pertaining to stock options:</div><div><br /></div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 55%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Shares</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Exercise Price Per Share</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; width: 9%;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Remaining Contractual Term</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Aggregate Intrinsic Value (in thousands)</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Outstanding at December 31, 2013</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">547,125</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">14.73</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: right;"> 4.56 years</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 55%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Canceled</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(70,500</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20.76</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 9%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 55%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Outstanding at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">476,625</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">13.84</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: right;"> 4.14 years</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 55%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Vested or expected to vest</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">467,493</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">13.96</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: right;"> 4.07 years</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 55%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 9%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 55%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Exercisable as of September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">430,965</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">14.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: right;"> 3.79 years</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr></table><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">As of September 30, 2014, the unrecognized pre-tax compensation expense for all unvested stock option awards was less than $0.1 million.  This amount will be expensed over the weighted-average period of approximately 1.26 years.</div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"> </div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">The following table presents a summary of stock options outstanding:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 100%;"><tr><td colspan="2" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="18" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">At September 30, 2014</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td></tr><tr><td colspan="2" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="10" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Stock Options Outstanding</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="6" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Stock Options Exercisable</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td></tr><tr><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; margin-left: 7.2pt; text-indent: -7.2pt;">Range of Exercise Prices</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Shares</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Contractual Weighted Average Life (years)</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Price</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Shares</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Weighted Average Exercise Price</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">4.00-$13.99</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">244,792</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">5.36</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">9.63</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">199,132</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">10.05</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">14.00-$19.99</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">173,333</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">2.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">17.55</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">173,333</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">17.55</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr style="height: 14px;"><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20.00-$25.00</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">58,500</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">3.92</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">58,500</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">20.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">476,625</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">4.14</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">13.84</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">430,965</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">14.48</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr></table></div>
5910541
5910541
82860000
82860000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Use of Estimates in the Preparation of Financial Statements</font> – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period.  On an ongoing basis, the Company evaluates the estimates and assumptions including those related to revenue recognition, bad debts, fixed assets, goodwill and other intangible assets, stock-based compensation, income taxes, benefit plans and certain accruals and contingencies.  Actual results could differ from those estimates.</div></div>
22843247
22789254
22528478
22480308
22480308
22843247
22811156
22789254
-499000
-233000
41437000
6194000
41437000
0
3908000
41437000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: left;"><table cellpadding="0" cellspacing="0" class="DSPFListTable" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; width: 100%;"><tr><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; width: 36pt; align: right;">10.</td><td style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; vertical-align: top; font-weight: bold; text-align: left; width: auto;">DIVIDENDS</td></tr></table></div><div style="text-align: left;"><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">In August 2014, the Company’s Board of Directors declared a quarterly cash dividend of $0.02 per share of common stock outstanding, which was paid on September 30, 2014 to shareholders of record on September 12, 2014.  <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">The establishment of future record and payment dates is subject to the final determination of the Company’s Board of Directors.</font></div></div>
9672000
9672000
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div>Scheduled maturities of long-term debt and lease obligations at September 30, 2014 are as follows:</div><div> </div><table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 50%;"><tr><td valign="bottom" style="vertical-align: bottom; width: 38%;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><u>Year ending December 31,</u></div></td><td valign="bottom" style="vertical-align: bottom; width: 1%;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom;"></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2014</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">7,962</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2015</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">515</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2016</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">10,405</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2017</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">794</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 38%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">2018</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">860</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 38%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Thereafter</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">22,257</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 38%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">42,793</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr></table></div>
4
5
1
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">Intangible assets, which are included in other assets in the accompanying condensed consolidated balance sheets, consist of the following:</div><div> </div><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; border-collapse: collapse; width: 100%;"><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Indefinite Trade Name</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Trade Name</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Accreditation</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Curriculum</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Non-compete</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; text-align: center;">Total</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Gross carrying amount at December 31, 2013</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">180</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">335</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,166</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,124</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">200</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">3,005</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 28%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Impairment</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(180</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(25</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(102</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(574</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(200</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(1,081</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 28%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Gross carrying amount at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">310</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,064</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">550</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,924</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Accumulated amortization at December 31, 2013</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">228</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">828</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">68</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,124</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Amortization</div></td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">37</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">78</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">27</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">142</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 28%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Impairment</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(12</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(448</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(95</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">(555</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #cceeff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">)</div></td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 28%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Accumulated amortization at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">253</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">458</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 2px solid; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">711</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 28%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Net carrying amount at September 30, 2014</div></td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">57</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,064</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">92</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; width: 1%; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: left; width: 1%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">$</div></td><td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 4px double; text-align: right; width: 9%; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">1,213</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; padding-bottom: 4px; text-align: left; width: 1%; background-color: #ffffff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; width: 28%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #cceeff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; width: 1%; background-color: #cceeff;"> </td></tr><tr><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left; margin-left: 7.2pt; text-indent: -7.2pt;">Weighted average amortization period (years)</div></td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">7</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td colspan="2" valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: center;">Indefinite</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">10</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">-</div></td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td><td valign="bottom" style="vertical-align: bottom; text-align: right; background-color: #ffffff;"> </td><td nowrap="nowrap" valign="bottom" style="vertical-align: bottom; text-align: left; background-color: #ffffff;"> </td></tr></table></div>
P36M
42793000
90116000
4
22257000
10405000
515000
794000
0.01
7962000
860000
one or more of the fiscal years
one or more of the fiscal years
one or more of the fiscal years
3300000
2
400000
100000
0
3005000
1924000
1124000
711000
500000
142000
2
6
1400000
1700000
1900000
0
0
0
0
0
0
700000
1600000
10
2
12000
448000
95000
0
0
555000
50000000
31
5
5
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;"><font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; font-weight: bold; font-style: italic;">Business Activities</font> – Lincoln Educational Services Corporation and Subsidiaries (the “Company”) is a provider of diversified career-oriented post-secondary education. The Company offers recent high school graduates and working adults career-oriented programs in five areas of study: Automotive Technology, Health Sciences, Skilled Trades, Hospitality Services and Business and Information Technology. The Company currently has 31 campuses and five training sites in 15 states across the United States.</div><div><br /></div><div style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif; text-align: left;">For the last several years, the Company<font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;"> and the proprietary school sector</font> has faced various forms of adversity which have contributed to deteriorating earnings growth. Government regulations have negatively impacted earnings by making it more difficult for potential students to obtain loans, which when coupled with the overall economic environment have hindered potential students from enrolling in our schools. In light of these factors, the Company has incurred significant operating losses as a result of lower student population. The Company also experienced a significant decline in market capitalization during the quarter ended September 30, 2014. Despite these events, management believes that its likely sources of cash should be sufficient to fund operations for the next twelve months. <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">The Company's available sources of cash primarily include results of operations, cash and cash equivalents and available borrowings under the revolving line of credit. </font>The Company's revolving credit facility expires in April 2015. To fund the Company's business plans, including any anticipated future losses, purchase commitments, capital expenditures, and principal and interest payments on borrowings, the Company has the ability to leverage <font style="font-size: 10pt; font-family: ''Times New Roman'', Times, serif;">up to $ 50 million of </font>its existing properties. In addition, the Company is also continuing to take actions to improve cash flow by aligning its cost structure to its student population. However, if the Company is unable to leverage certain of its properties and improve operating performance, the Company's business plans may be adversely affected and the Company will have to modify its business plans to conserve available cash.</div></div>
In 2009, the Company assumed real estate capital leases in Fern Park, Florida and Hartford, Connecticut. These leases bear interest at 8% and expire in 2032 and 2031, respectively.
The Company completed a sale and a leaseback of several facilities on December 28, 2001. The Company retains a continuing involvement in the lease and, as a result, it is prohibited from utilizing sale-leaseback accounting. Accordingly, the Company has treated this transaction as a finance lease. The lease expires on December 31, 2016.
On April 5, 2012, the Company, as borrower, and certain of its wholly-owned subsidiaries, as guarantors, entered into a secured revolving credit agreement with a syndicate of four lenders led by Bank of America, N.A., as administrative agent and letter of credit issuer (the "Credit Facility"). The April 5, 2012 agreement, along with subsequent amendments dated June 18, 2013 and December 20, 2013, are collectively referred to as the "Credit Agreement." As of December 31, 2013, the aggregate principal amount available under the Credit Facility was $60 million. Under the terms of the Credit Agreement, amended January 16, 2014, this amount was reduced to $40 million. The Credit Facility may be used to finance capital expenditures and permitted acquisitions, to pay transaction expenses, for the issuance of letters of credit and for general corporate purposes. The Credit Agreement includes a $25 million letter of credit sublimit. The original term of the Credit Facility is 36 months, maturing on April 5, 2015. The Credit Agreement provides that the lenders will receive first priority lien on substantially all of the tangible and intangible non-real property assets of the Company and its subsidiaries as well as a first priority lien on substantially all real property owned by the Company and its subsidiaries and that all net proceeds of future sales of real property by the Company and its subsidiaries be used to prepay revolving loans and permanently reduce the principal amount of revolving loans available under the Credit Facility. Amounts borrowed as revolving loans under the Credit Facility will bear interest, at the Company's option, at either (i) an interest rate based on LIBOR and adjusted for any reserve percentage obligations under Federal Reserve Bank regulations (the "Eurodollar Rate") for specified interest periods or (ii) the Base Rate (as defined in the Credit Agreement), in each case, plus an applicable margin rate as determined under the Credit Agreement. The "Base Rate", as defined under the Credit Agreement, is the highest of (a) the rate of interest announced from time to time by Bank of America, N.A. as its prime rate, (b) the Federal Funds rate plus 0.50% and (c) a daily rate equal to the one-month LIBOR rate plus 1.0%. Pursuant to the Credit Agreement, the margin interest rate is subject to adjustment within a range of 2.50% to 6.00% based upon changes in the Company's consolidated leverage ratio and depending on whether the Company has chosen the Eurodollar Rate or the Base Rate option. Letters of credit will require a fee equal to the applicable margin rate multiplied by the daily amount available to be drawn under each issued letter of credit plus an agreed upon fronting fee and customary issuance, presentation, amendment and other processing fees associated with letters of credit. At September 30, 2014, the Company had outstanding letters of credit aggregating $5.3 million, which were primarily comprised of letters of credit for the Department of Education, or DOE, matters and real estate leases. The Credit Agreement contains representations, warranties and covenants including consolidated adjusted net worth, consolidated leverage ratio, consolidated fixed charge coverage ratio, minimum financial responsibility composite score, cohort default rate and other financial covenants, certain restrictions on capital expenditures as well as affirmative and negative covenants and events of default customary for facilities of this type. In addition, the Company is paying fees to the lenders that are customary for facilities of this type. As of September 30, 2014 the Company is in compliance with all financial covenants. During the three months ended September 30, 2014 the Company had net repayments of $7.5 under the Credit Facility during the three months ended September 30, 2014. The Company had $7.5 million outstanding under the Credit Facility as of September 30, 2014. The interest rates on these borrowings ranged from 4.2% to 7.3%. The Company had $54.5 million outstanding under the Credit Agreement as of December 31, 2013 which was repaid on January 3, 2014. The interest rate on this borrowing was 7.3%.