Lincoln Educational Services
Buy, Hold or Sell?

Let's analyse Lincoln Educational Services together

Penke I guess you are interested in Lincoln Educational Services. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Lincoln Educational Services. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Lincoln Educational Services (30 sec.)

What can you expect buying and holding a share of Lincoln Educational Services? (30 sec.)

How much money do you get?

$0.00

When do you have the money?

1 year

How often do you get paid?

42.5%

What is your share worth?

Current worth

$5.25

Expected worth in 1 year

$5.94

How sure are you?

50.0%

+ What do you gain per year?

Total Gains per Share

$0.69

Return On Investment

7.2%

For what price can you sell your share?

Current Price per Share

$9.59

Expected price per share

$8.91 - $10.81

How sure are you?

50%

1. Valuation of Lincoln Educational Services (5 min.)

Live pricePrice per Share (EOD)

$9.59

Book Value per Share

$5.25

Intrinsic Value Per Share

$-2.18 - $0.04

Total Value Per Share

$3.08 - $5.30

My calculation of the intrinsic value of Lincoln Educational Services is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.00) 3Y: ($-0.01) TTM: ($-0.12)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.00) 3Y: ($0.00) TTM: ($0.09)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$-0.07	$-0.01	$-0.09 - $-0.01
2	$-0.18	$-0.02	$-0.14 - $-0.01
3	$-0.33	$-0.03	$-0.20 - $0.00
4	$-0.52	$-0.03	$-0.25 - $0.00
5	$-0.74	$-0.02	$-0.31 - $0.01
6	$-0.99	$-0.02	$-0.36 - $0.01
7	$-1.26	$-0.01	$-0.42 - $0.01
8	$-1.55	$0.01	$-0.47 - $0.02
9	$-1.86	$0.02	$-0.53 - $0.02
10	$-2.18	$0.04	$-0.58 - $0.03

2. Growth of Lincoln Educational Services (5 min.)

Is Lincoln Educational Services growing?

	Current year	Previous year	Grow	Grow %
How rich?	$166.8m	$140.5m	$12.8m	8.4%

How much money is Lincoln Educational Services making?

	Current year	Previous year	Grow	Grow %
Making money	$6.4m	$2.6m	$3.8m	58.5%
Net Profit Margin	7.0%	3.0%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Lincoln Educational Services (5 min.)

4. Comparing to competitors in the Education & Training Services industry (5 min.)

Industry Rankings (Education & Training Services)

Richest
#55 / 126

Most Revenue
#51 / 126

Most Profit
#43 / 126

Most Efficient
#47 / 126

What can you expect buying and holding a share of Lincoln Educational Services? (5 min.)

Welcome investor! Lincoln Educational Services's management wants to use your money to grow the business. In return you get a share of Lincoln Educational Services.

What can you expect buying and holding a share of Lincoln Educational Services?

First you should know what it really means to hold a share of Lincoln Educational Services. And how you can make/lose money.

Speculation

The Price per Share of Lincoln Educational Services is $9.59. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Lincoln Educational Services.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Lincoln Educational Services, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $5.25. Based on the TTM, the Book Value Change Per Share is $0.17 per quarter. Based on the YOY, the Book Value Change Per Share is $0.12 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.00 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Lincoln Educational Services.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	0.21	2.2%	0.20	2.1%	0.09	0.9%	0.19	2.0%	0.01	0.1%
Usd Book Value Change Per Share	0.30	3.2%	0.17	1.8%	0.12	1.3%	0.20	2.1%	0.02	0.2%
Usd Dividend Per Share	0.00	0.0%	0.00	0.0%	0.01	0.1%	0.01	0.1%	0.01	0.1%
Usd Total Gains Per Share	0.30	3.2%	0.17	1.8%	0.13	1.4%	0.21	2.2%	0.03	0.3%
Usd Price Per Share	10.04	-	7.72	-	6.17	-	5.61	-	4.02	-
Price to Earnings Ratio	11.74	-	-91.24	-	-717.14	-	-153.91	-	-79.34	-
Price-to-Total Gains Ratio	33.08	-	31.23	-	-1,250.36	-	-235.59	-	-107.20	-
Price to Book Ratio	1.91	-	1.58	-	1.40	-	1.92	-	1.62	-
Price-to-Total Gains Ratio	33.08	-	31.23	-	-1,250.36	-	-235.59	-	-107.20	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	9.59
Number of shares	104

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.00	0.01
Usd Book Value Change Per Share	0.17	0.20
Usd Total Gains Per Share	0.17	0.21
Gains per Quarter (104 shares)	17.95	21.74
Gains per Year (104 shares)	71.80	86.97

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	0	72	62	4	83	77
2	0	144	134	8	166	164
3	0	215	206	12	249	251
4	0	287	278	15	333	338
5	0	359	350	19	416	425
6	0	431	422	23	499	512
7	0	503	494	27	582	599
8	0	574	566	31	665	686
9	0	646	638	35	748	773
10	0	718	710	38	831	860

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	3.0	1.0	0.0	75.0%	9.0	3.0	0.0	75.0%	14.0	6.0	0.0	70.0%	19.0	21.0	0.0	47.5%	52.0	31.0	0.0	62.7%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	9.0	3.0	0.0	75.0%	14.0	6.0	0.0	70.0%	19.0	21.0	0.0	47.5%	43.0	35.0	5.0	51.8%
Dividend per Share	0.0	0.0	4.0	0.0%	8.0	0.0	4.0	66.7%	12.0	0.0	8.0	60.0%	17.0	0.0	23.0	42.5%	31.0	0.0	52.0	37.3%
Total Gains per Share	3.0	1.0	0.0	75.0%	9.0	3.0	0.0	75.0%	14.0	6.0	0.0	70.0%	20.0	20.0	0.0	50.0%	46.0	32.0	5.0	55.4%

Fundamentals of Lincoln Educational Services

About Lincoln Educational Services

https://www.lincolntech.edu
Education & Training Services
1800
14 Sylvan Way, Parsippany, NJ, United States, 07054
Google Maps Bing Maps

Lincoln Educational Services Corporation, together with its subsidiaries, provides various career-oriented post-secondary education services to high school graduates and working adults in the United States. The company operates in two segments, Campus Operations and Transitional. It offers associate's degree, and diploma and certificate programs in automotive technology; skilled trades programs, including electrical, heating and air conditioning repair, welding, computerized numerical control, and electrical and electronic systems technology; health science programs comprising licensed practical nurse, registered nurse, dental assistant, medical assistant, medical administrative assistant, and claims examiner; hospitality service and information technology programs, such as culinary, therapeutic massage, cosmetology, aesthetics, and computer systems support technicians. The company operates schools under the Lincoln Technical Institute, Lincoln College of Technology, Lincoln Culinary Institute, Euphoria Institute of Beauty Arts and Sciences, and other brand names. Lincoln Educational Services Corporation was founded in 1946 and is based in Parsippany, New Jersey.

Fundamental data was last updated by Penke on 2024-04-11 13:23:03.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is expensive.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Lincoln Educational Services.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Lincoln Educational Services earns for each $1 of revenue.

Above 10% is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
A Net Profit Margin of 6.6% means that $0.07 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Lincoln Educational Services:

The MRQ is 6.6%. The company is making a profit. +1
The TTM is 7.0%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	6.6%	TTM	7.0%	-0.4%
TTM	7.0%	YOY	3.0%	+4.1%
TTM	7.0%	5Y	7.0%	0.0%
5Y	7.0%	10Y	-0.4%	+7.4%

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
MRQ	6.6%	4.2%	+2.4%
TTM	7.0%	3.4%	+3.6%
YOY	3.0%	1.3%	+1.7%
5Y	7.0%	0.9%	+6.1%
10Y	-0.4%	3.0%	-3.4%

Measures how much net profit Lincoln Educational Services earns for each $1 of revenue.

Revenue is the amount of profit Lincoln Educational Services generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Lincoln Educational Services earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
Can be used to compare companies within the Education & Training Services industry.

You typically want a high profit margin. This means that for each $1 in sales, Lincoln Educational Services makes more profit. This shows the investor how efficiently Lincoln Educational Services is operating in general and compared to other companies in the same industry. Lincoln Educational Services operates in the Education & Training Services industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Lincoln Educational Services. If profit margins remain low (compared to the Education & Training Services industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Lincoln Educational Services is 0.07. This means that Lincoln Educational Services earned $0.07 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Education & Training Services industry is 4.2%.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Lincoln Educational Services with other companies in the same industry (Education & Training Services).
Net profit margin should rise over the years.
Can be influenced when Lincoln Educational Services sells assets (profit will increase while costs remain the same).
It won’t show what part of Lincoln Educational Services is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Lincoln Educational Services

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Lincoln Educational Services = 6,792
Total revenue MRQ Lincoln Educational Services = 102,522
$6,792 / $102,522 = 0.07 or 6.6%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Lincoln Educational Services is using its assets to generate profit.

Above 5% is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
2.0% Return on Assets means that Lincoln Educational Services generated $0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Lincoln Educational Services:

The MRQ is 2.0%. Using its assets, the company is less efficient in making profit.
The TTM is 2.0%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	2.0%	TTM	2.0%	-0.1%
TTM	2.0%	YOY	0.9%	+1.1%
TTM	2.0%	5Y	2.2%	-0.2%
5Y	2.2%	10Y	-0.5%	+2.7%

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
MRQ	2.0%	0.7%	+1.3%
TTM	2.0%	0.7%	+1.3%
YOY	0.9%	0.2%	+0.7%
5Y	2.2%	0.1%	+2.1%
10Y	-0.5%	0.7%	-1.2%

Shows how efficient Lincoln Educational Services is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Lincoln Educational Services is using its resources to generate profit. If the return on assets (2.0%) from Lincoln Educational Services are higher than the Education & Training Services mean (0.7%) that means Lincoln Educational Services is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Lincoln Educational Services is 2.0%. This means the company generated $0.02 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Education & Training Services industry is 0.7%.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Lincoln Educational Services

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Lincoln Educational Services = 6,792
Total assets MRQ (balance sheet) from Lincoln Educational Services = 345,249
6,792 / 345,249 = 0.02 or 2.0%

ROA is an important ratio as it will tell you how effectively Lincoln Educational Services is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Lincoln Educational Services is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
4.1% Return on Equity means Lincoln Educational Services generated $0.04 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Lincoln Educational Services:

The MRQ is 4.1%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 4.1%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	4.1%	TTM	4.1%	0.0%
TTM	4.1%	YOY	1.9%	+2.2%
TTM	4.1%	5Y	5.4%	-1.3%
5Y	5.4%	10Y	-1.1%	+6.5%

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
MRQ	4.1%	1.5%	+2.6%
TTM	4.1%	1.3%	+2.8%
YOY	1.9%	0.6%	+1.3%
5Y	5.4%	0.7%	+4.7%
10Y	-1.1%	1.2%	-2.3%

Shows how efficient Lincoln Educational Services is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Education & Training Services industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Lincoln Educational Services is 4.1%. This means Lincoln Educational Services generated $0.04 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Education & Training Services industry is 1.5%.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if Lincoln Educational Services existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Lincoln Educational Services

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Lincoln Educational Services = 6,792
Shareholders equity (balance sheet) MRQ Lincoln Educational Services = 166,804
6,792 / 166,804 = 0.04 or 4.1%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Lincoln Educational Services.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Lincoln Educational Services is operating .

Measures how much profit Lincoln Educational Services makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
An Operating Margin of 8.7% means the company generated $0.09 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Lincoln Educational Services:

The MRQ is 8.7%. The company is operating less efficient.
The TTM is 1.6%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	8.7%	TTM	1.6%	+7.1%
TTM	1.6%	YOY	4.4%	-2.8%
TTM	1.6%	5Y	3.5%	-1.9%
5Y	3.5%	10Y	-0.7%	+4.2%

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
MRQ	8.7%	6.4%	+2.3%
TTM	1.6%	4.2%	-2.6%
YOY	4.4%	4.7%	-0.3%
5Y	3.5%	4.1%	-0.6%
10Y	-0.7%	7.0%	-7.7%

Measures how efficient Lincoln Educational Services is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Lincoln Educational Services is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Lincoln Educational Services is 8.7%. This means that Lincoln Educational Services earned $0.09 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Education & Training Services industry is 6.4%.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Lincoln Educational Services

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Lincoln Educational Services = 8,968
Total revenue MRQ Lincoln Educational Services = 102,522
$8,968 / $102,522 = 0.09 or 8.7%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Lincoln Educational Services is keeping operating costs low.

Below 1 is considered healthy (always compare to Education & Training Services industry mean).
An Operation Ratio of 0.91 means that the operating costs are $0.91 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Lincoln Educational Services:

The MRQ is 0.913. The company is less efficient in keeping operating costs low.
The TTM is 0.985. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.913	TTM	0.985	-0.073
TTM	0.985	YOY	0.953	+0.032
TTM	0.985	5Y	0.960	+0.025
5Y	0.960	10Y	0.990	-0.030

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
MRQ	0.913	1.246	-0.333
TTM	0.985	1.231	-0.246
YOY	0.953	1.176	-0.223
5Y	0.960	1.164	-0.204
10Y	0.990	1.079	-0.089

Measures how efficient Lincoln Educational Services is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Lincoln Educational Services is 91.3%. This means that Lincoln Educational Services earned $0.91 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Education & Training Services industry is 1.25.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Lincoln Educational Services

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(41,024 +52,530) \ 102,522 = 0.91

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Lincoln Educational Services.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Lincoln Educational Services is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Education & Training Services industry mean).
A Current Ratio of 1.83 means the company has $1.83 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Lincoln Educational Services:

The MRQ is 1.834. The company is able to pay all its short-term debts. +1
The TTM is 1.946. The company is able to pay all its short-term debts. +1

Trends

Current period		Compared to		+/-
MRQ	1.834	TTM	1.946	-0.112
TTM	1.946	YOY	1.974	-0.028
TTM	1.946	5Y	1.402	+0.544
5Y	1.402	10Y	1.225	+0.177

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
MRQ	1.834	1.104	+0.730
TTM	1.946	1.266	+0.680
YOY	1.974	1.416	+0.558
5Y	1.402	1.402	+0.000
10Y	1.225	1.512	-0.287

Measures if Lincoln Educational Services is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Education & Training Services industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Lincoln Educational Services if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Lincoln Educational Services is 1.83. This means Lincoln Educational Services has $1.83 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Education & Training Services industry is 1.10.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Lincoln Educational Services

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
134,663 \ 73,410) = 1.83

The current ratio measures if Lincoln Educational Services is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Lincoln Educational Services is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Lincoln Educational Services does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Lincoln Educational Services is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Lincoln Educational Services is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
A Quick Ratio of 1.58 means the company can pay off $1.58 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Lincoln Educational Services:

The MRQ is 1.580. The company is very able to pay all its short-term debts with the most liquid assets. +2
The TTM is 1.904. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	1.580	TTM	1.904	-0.324
TTM	1.904	YOY	1.816	+0.088
TTM	1.904	5Y	1.258	+0.646
5Y	1.258	10Y	0.930	+0.328

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
MRQ	1.580	0.885	+0.695
TTM	1.904	0.911	+0.993
YOY	1.816	1.135	+0.681
5Y	1.258	1.144	+0.114
10Y	0.930	1.208	-0.278

Measures if Lincoln Educational Services is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Lincoln Educational Services can pay off its short term debts. This shows if Lincoln Educational Services can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Lincoln Educational Services is 1.58. This means that Lincoln Educational Services can pay off $1.58 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Education & Training Services industry is 0.89.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Lincoln Educational Services

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Lincoln Educational Services: (80,269 + 0 +35,692) / 73,410 = 1.58

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Lincoln Educational Services.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Lincoln Educational Services assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Lincoln Educational Services to Education & Training Services industry mean.
A Debt to Asset Ratio of 0.52 means that Lincoln Educational Services assets are financed with 51.7% credit (debt) and the remaining percentage (100% - 51.7%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Lincoln Educational Services:

The MRQ is 0.517. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.510. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.517	TTM	0.510	+0.006
TTM	0.510	YOY	0.514	-0.003
TTM	0.510	5Y	0.614	-0.104
5Y	0.614	10Y	0.620	-0.006

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
MRQ	0.517	0.488	+0.029
TTM	0.510	0.482	+0.028
YOY	0.514	0.503	+0.011
5Y	0.614	0.499	+0.115
10Y	0.620	0.480	+0.140

Measures how much % of Lincoln Educational Services assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Lincoln Educational Services than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Lincoln Educational Services to Education & Training Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Lincoln Educational Services is 0.52. This means means that Lincoln Educational Services is financed with 51.7% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Education & Training Services industry is 110.4%.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Lincoln Educational Services has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Lincoln Educational Services

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
178,445 \ 345,249 = 51.7% or 0.52.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Lincoln Educational Services is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Lincoln Educational Services to the Education & Training Services industry mean.
A Debt to Equity ratio of 107.0% means that company has $1.07 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Lincoln Educational Services:

The MRQ is 1.070. The company is able to pay all its debts with equity. +1
The TTM is 1.043. The company is able to pay all its debts with equity. +1

Trends

Current period		Compared to		+/-
MRQ	1.070	TTM	1.043	+0.026
TTM	1.043	YOY	1.057	-0.014
TTM	1.043	5Y	1.910	-0.867
5Y	1.910	10Y	1.845	+0.066

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
MRQ	1.070	0.909	+0.161
TTM	1.043	0.914	+0.129
YOY	1.057	0.980	+0.077
5Y	1.910	0.899	+1.011
10Y	1.845	0.932	+0.913

Measures if Lincoln Educational Services is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Lincoln Educational Services is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Lincoln Educational Services is 1.07. This means that Lincoln Educational Services can pay off $1.07 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Education & Training Services industry is 0.91.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Lincoln Educational Services

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
178,445 \ 166,804 = 1.07 or 107.0%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Lincoln Educational Services

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Lincoln Educational Services generates.

Above 15 is considered overpriced but always compare Lincoln Educational Services to the Education & Training Services industry mean.
A PE ratio of 11.74 means the investor is paying $11.74 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Lincoln Educational Services:

The EOD is 11.211. Based on the earnings, the company is underpriced. +1
The MRQ is 11.737. Based on the earnings, the company is underpriced. +1
The TTM is -91.236. Based on the earnings, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	11.211	MRQ	11.737	-0.526
MRQ	11.737	TTM	-91.236	+102.973
TTM	-91.236	YOY	-717.141	+625.905
TTM	-91.236	5Y	-153.909	+62.673
5Y	-153.909	10Y	-79.336	-74.572

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
EOD	11.211	4.760	+6.451
MRQ	11.737	4.884	+6.853
TTM	-91.236	3.408	-94.644
YOY	-717.141	2.561	-719.702
5Y	-153.909	10.550	-164.459
10Y	-79.336	11.380	-90.716

Measures how much money you pay for each share for every $1 in earnings Lincoln Educational Services generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Lincoln Educational Services to the Education & Training Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Lincoln Educational Services is 11.74. This means the investor is paying $11.74 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Education & Training Services industry is 4.88.
What is the trend?
The trend is important because it shows you how Lincoln Educational Services is performing over time. The most recent quarter might be important if Lincoln Educational Services released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Lincoln Educational Services up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Lincoln Educational Services

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 30,847 = EPS
PE ratio MRQ = 11.74

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Lincoln Educational Services:

The EOD is 7.666. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 8.026. Based on how much money comes from the company's main activities, the company is cheap. +2
The TTM is 2.592. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	7.666	MRQ	8.026	-0.360
MRQ	8.026	TTM	2.592	+5.434
TTM	2.592	YOY	0.464	+2.128
TTM	2.592	5Y	0.560	+2.032
5Y	0.560	10Y	0.813	-0.253

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
EOD	7.666	3.962	+3.704
MRQ	8.026	4.303	+3.723
TTM	2.592	3.914	-1.322
YOY	0.464	1.687	-1.223
5Y	0.560	1.335	-0.775
10Y	0.813	2.122	-1.309

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Lincoln Educational Services is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Education & Training Services industry mean).
A PB ratio of 1.91 means the investor is paying $1.91 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Lincoln Educational Services:

The EOD is 1.826. Based on the equity, the company is underpriced. +1
The MRQ is 1.912. Based on the equity, the company is underpriced. +1
The TTM is 1.583. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.826	MRQ	1.912	-0.086
MRQ	1.912	TTM	1.583	+0.328
TTM	1.583	YOY	1.396	+0.188
TTM	1.583	5Y	1.923	-0.340
5Y	1.923	10Y	1.625	+0.298

Compared to industry (Education & Training Services)

Period	Company	Industry (mean)	+/-
EOD	1.826	1.006	+0.820
MRQ	1.912	1.179	+0.733
TTM	1.583	1.197	+0.386
YOY	1.396	1.187	+0.209
5Y	1.923	1.688	+0.235
10Y	1.625	1.922	-0.297

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Lincoln Educational Services.

3.1. Institutions holding Lincoln Educational Services

Institutions are holding 76.184% of the shares of Lincoln Educational Services.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-09-30	Juniper Investment Co, LLC	12.4988	21.2934	3969534	0	0
2023-12-31	Herr Investment Group LLC	7.1393	1.3226	2267402	104349	4.8242
2023-12-31	Heartland Advisors Inc	5.4957	0.9158	1745400	-235927	-11.9075
2023-12-31	BlackRock Inc	5.316	0.0004	1688340	130241	8.359
2023-12-31	Vanguard Group Inc	3.8	0.0003	1206847	17465	1.4684
2023-12-31	Cannell Capital LLC	3.488	2.4115	1107751	-34437	-3.015
2023-12-31	Dimensional Fund Advisors, Inc.	2.6622	0.0025	845498	101084	13.579
2023-12-31	Uniplan Investment Counsel, Inc.	2.2233	0.5377	706095	-42853	-5.7218
2023-09-30	Alyeska Investment Group, L.P.	2.039	0.0372	647585	-548192	-45.844
2023-12-31	Renaissance Technologies Corp	1.8041	0.0089	572978	34900	6.486
2023-12-31	Punch & Associates Inv Mgmt Inc	1.7532	0.3269	556800	10000	1.8288
2023-12-31	Geode Capital Management, LLC	1.7451	0.0006	554244	20165	3.7757
2023-12-31	Arnhold & S. Bleichroeder Advisers, LLC	1.6996	0.0129	539776	65982	13.9263
2023-12-31	Bridgeway Capital Management, LLC	1.6692	0.1142	530122	-25647	-4.6147
2023-12-31	Pacific Ridge Capital Partners, LLC	1.5763	1.0208	500614	-6376	-1.2576
2023-12-31	RBF LLC	1.5714	0.303	499070	0	0
2023-12-31	Royce & Associates, LP	1.3575	0.04	431118	-270588	-38.5614
2023-12-31	Essex Investment Management Company, LLC	1.3052	0.8194	414528	-45293	-9.8501
2023-12-31	State Street Corporation	1.0373	0.0002	329425	7633	2.372
2023-12-31	Springbok Capital Management, LLC	1.0236	0.2162	325088	-28966	-8.1812
Total		61.2048	29.3845	19438215	-746460	-3.8%

3.2. Funds holding Lincoln Educational Services

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Heartland Value Investor	5.0881	2.3147	1600000	0	0
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.5068	0.0005	788298	0	0
2024-02-29	First Eagle Small Cap Opportunity I	1.692	0.3023	532074	9459	1.8099
2024-03-28	iShares Russell 2000 ETF	1.6902	0.0084	531498	255	0.048
2023-12-31	First Eagle US Small Cap Strategy	1.5844	0.2962	498235	60504	13.8222
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.2516	0.0039	393591	1024	0.2608
2023-09-30	Pacific Ridge Capital Ptnrs Micro Cp Val	0.9314	1.2152	292890	292890	0
2024-01-31	Fidelity Small Cap Index	0.7726	0.0088	242963	10165	4.3664
2024-03-28	iShares Russell 2000 Value ETF	0.7227	0.0187	227248	11816	5.4848
2023-12-31	Royce Micro-Cap Invmt	0.6736	0.6816	211808	4900	2.3682
2023-12-31	Bridgeway Omni Small-Cap Value	0.671	0.165	211000	0	0
2023-12-31	Bridgeway Omni Small-Cap Value N	0.671	0.1653	211000	0	0
2023-12-31	Auxier Focus Inv	0.6535	0.7522	205501	0	0
2024-03-28	EA Bridgeway Omni Small-Cap Value ETF	0.5822	0.1537	183078	0	0
2024-02-29	Adara Smaller Companies	0.5147	0.3057	161840	0	0
2024-02-29	Fidelity Extended Market Index	0.5042	0.0042	158543	-768	-0.4821
2024-02-29	DFA US Small Cap I	0.3999	0.0082	125743	2530	2.0534
2023-12-31	Acuitas US Microcap Strategy	0.3565	0.2997	112110	-760	-0.6733
2023-12-31	Pleiades Small Cap Equity A	0.3534	0.124	111136	0	0
2024-02-29	DFA US Targeted Value I	0.3466	0.0085	108977	0	0
Total		21.9664	6.8368	6907533	+392015	+5.7%

3.3. Insider Transactions

Insiders are holding 7.632% of the shares of Lincoln Educational Services.

Date	Owner	Type	Amount	Price
2024-03-07	Chad D Nyce	SELL	26000	10.02
2024-03-06	J Barry Morrow	SELL	22610	10.04
2024-03-06	Juniper Investment Company, Ll	SELL	286997	9.97
2024-02-29	Juniper Investment Company, Ll	SELL	73241	10.09
2024-02-28	J Barry Morrow	SELL	5252	10.08
2024-02-27	Juniper Investment Company, Ll	SELL	169592	10.13
2023-11-15	James J Burke Jr	SELL	3942	9.61
2023-08-14	J Barry Morrow	SELL	12000	8.69
2023-08-11	J Barry Morrow	SELL	12000	8.87
2023-08-09	J Barry Morrow	SELL	7000	8.9
2023-06-14	J Barry Morrow	SELL	11428	6.39
2023-06-14	Juniper Investment Company, Ll	SELL	194312	6.41
2023-06-12	J Barry Morrow	SELL	11	6.49
2023-06-12	Juniper Investment Company, Ll	SELL	108839	6.5
2023-06-09	J Barry Morrow	SELL	11428	6.73
2023-06-07	J Barry Morrow	SELL	11	6.75
2023-05-12	Ronald Edward Harbour	SELL	9009	6.5
2023-05-11	Brian K Meyers	SELL	30021	6.36

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Lincoln Educational Services compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	0.304	0.173	+76%	0.122	+149%	0.200	+52%	0.017	+1684%
Book Value Per Share	-	-	5.252	4.831	+9%	4.425	+19%	3.184	+65%	2.638	+99%
Current Ratio	-	-	1.834	1.946	-6%	1.974	-7%	1.402	+31%	1.225	+50%
Debt To Asset Ratio	-	-	0.517	0.510	+1%	0.514	+1%	0.614	-16%	0.620	-17%
Debt To Equity Ratio	-	-	1.070	1.043	+3%	1.057	+1%	1.910	-44%	1.845	-42%
Dividend Per Share	-	-	-	-	0%	0.009	-100%	0.009	-100%	0.008	-100%
Eps	-	-	0.214	0.205	+5%	0.091	+136%	0.189	+13%	0.011	+1841%
Free Cash Flow Per Share	-	-	0.313	-0.119	+138%	-0.064	+120%	0.016	+1851%	-0.004	+101%
Free Cash Flow To Equity Per Share	-	-	0.313	-0.142	+146%	-0.163	+152%	-0.075	+124%	-0.032	+110%
Gross Profit Margin	-	-	1.000	1.000	0%	-0.302	+130%	0.740	+35%	0.870	+15%
Intrinsic Value_10Y_max	-	-	0.044	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-2.176	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	-0.014	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	-0.066	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	-0.027	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-0.332	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	-0.024	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-0.741	-	-	-	-	-	-	-	-
Market Cap	304571687.000	-5%	318863372.000	245261194.250	+30%	196034279.250	+63%	178233191.600	+79%	127537408.975	+150%
Net Profit Margin	-	-	0.066	0.070	-5%	0.030	+124%	0.070	-6%	-0.004	+106%
Operating Margin	-	-	0.087	0.016	+440%	0.044	+100%	0.035	+151%	-0.007	+108%
Operating Ratio	-	-	0.913	0.985	-7%	0.953	-4%	0.960	-5%	0.990	-8%
Pb Ratio	1.826	-5%	1.912	1.583	+21%	1.396	+37%	1.923	-1%	1.625	+18%
Pe Ratio	11.211	-5%	11.737	-91.236	+877%	-717.141	+6210%	-153.909	+1411%	-79.336	+776%
Price Per Share	9.590	-5%	10.040	7.723	+30%	6.173	+63%	5.612	+79%	4.016	+150%
Price To Free Cash Flow Ratio	7.666	-5%	8.026	2.592	+210%	0.464	+1630%	0.560	+1332%	0.813	+887%
Price To Total Gains Ratio	31.598	-5%	33.081	31.234	+6%	-1250.359	+3880%	-235.589	+812%	-107.203	+424%
Quick Ratio	-	-	1.580	1.904	-17%	1.816	-13%	1.258	+26%	0.930	+70%
Return On Assets	-	-	0.020	0.020	-3%	0.009	+112%	0.022	-11%	-0.005	+123%
Return On Equity	-	-	0.041	0.041	-1%	0.019	+115%	0.054	-24%	-0.011	+126%
Total Gains Per Share	-	-	0.304	0.173	+76%	0.130	+133%	0.209	+45%	0.025	+1095%
Usd Book Value	-	-	166804000.000	153422000.000	+9%	140522250.000	+19%	101109250.000	+65%	83765175.000	+99%
Usd Book Value Change Per Share	-	-	0.304	0.173	+76%	0.122	+149%	0.200	+52%	0.017	+1684%
Usd Book Value Per Share	-	-	5.252	4.831	+9%	4.425	+19%	3.184	+65%	2.638	+99%
Usd Dividend Per Share	-	-	-	-	0%	0.009	-100%	0.009	-100%	0.008	-100%
Usd Eps	-	-	0.214	0.205	+5%	0.091	+136%	0.189	+13%	0.011	+1841%
Usd Free Cash Flow	-	-	9932000.000	-3785250.000	+138%	-2026000.000	+120%	508950.000	+1851%	-133050.000	+101%
Usd Free Cash Flow Per Share	-	-	0.313	-0.119	+138%	-0.064	+120%	0.016	+1851%	-0.004	+101%
Usd Free Cash Flow To Equity Per Share	-	-	0.313	-0.142	+146%	-0.163	+152%	-0.075	+124%	-0.032	+110%
Usd Market Cap	304571687.000	-5%	318863372.000	245261194.250	+30%	196034279.250	+63%	178233191.600	+79%	127537408.975	+150%
Usd Price Per Share	9.590	-5%	10.040	7.723	+30%	6.173	+63%	5.612	+79%	4.016	+150%
Usd Profit	-	-	6792000.000	6499250.000	+5%	2699250.000	+152%	6104600.000	+11%	406900.000	+1569%
Usd Revenue	-	-	102522000.000	94517500.000	+8%	87071750.000	+18%	81406400.000	+26%	73572750.000	+39%
Usd Total Gains Per Share	-	-	0.304	0.173	+76%	0.130	+133%	0.209	+45%	0.025	+1095%
	EOD	+4 -4	MRQ	TTM	+22 -11	YOY	+26 -10	5Y	+28 -8	10Y	+30 -6

4.2. Fundamental Score

Let's check the fundamental score of Lincoln Educational Services based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	11.211
Price to Book Ratio (EOD)	Between	0-1	1.826
Net Profit Margin (MRQ)	Greater than	0	0.066
Operating Margin (MRQ)	Greater than	0	0.087
Quick Ratio (MRQ)	Greater than	1	1.580
Current Ratio (MRQ)	Greater than	1	1.834
Debt to Asset Ratio (MRQ)	Less than	1	0.517
Debt to Equity Ratio (MRQ)	Less than	1	1.070
Return on Equity (MRQ)	Greater than	0.15	0.041
Return on Assets (MRQ)	Greater than	0.05	0.020
Total			6/10 (60.0%)

Create your own Stock Scanner

Investing is personal. The best investors buy stocks based on their own analysis. Create your personal Stock Scanner with the key performance indicators that are important to you.
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4.3. Technical Score

Let's check the technical score of Lincoln Educational Services based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	40.198
Ma 20	Greater than	Ma 50	10.109
Ma 50	Greater than	Ma 100	10.020
Ma 100	Greater than	Ma 200	9.728
Open	Greater than	Close	9.760
Total			4/5 (80.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
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Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	345,249
Total Liabilities	178,445
Total Stockholder Equity	166,804

	As reported
Total Liabilities	178,445
Total Stockholder Equity	+ 166,804
Total Assets	= 345,249

Assets

Total Assets	345,249
Total Current Assets	134,663
Long-term Assets	210,586

Total Current Assets

Total Current Assets (as reported)	134,663
Cash And Cash Equivalents	80,269
Net Receivables	35,692
Inventory	2,948
Other Current Assets	15,754
Total Current Assets (calculated)	134,663
+/-	0

Long-term Assets

Long-term Assets (as reported)	210,586
Property Plant Equipment	156,577
Goodwill	10,742
Long-term Assets Other	2,546
Long-term Assets (calculated)	169,865
+/-	40,721

Liabilities & Shareholders' Equity

Total Current Liabilities	73,410
Long-term Liabilities	105,035
Total Stockholder Equity	166,804

Total Current Liabilities

Total Current Liabilities (as reported)	73,410
Short-term Debt	11,807
Accounts payable	18,152
Other Current Liabilities	16,545
Total Current Liabilities (calculated)	46,504
+/-	26,906

Long-term Liabilities

Long-term Liabilities (as reported)	105,035
Capital Lease Obligations Min Short Term Debt	104,979
Long-term Liabilities Other	56
Long-term Liabilities (calculated)	105,035
+/-	0

Total Stockholder Equity

Total Stockholder Equity (as reported)	166,804
Common Stock	48,181
Retained Earnings	69,279
Accumulated Other Comprehensive Income	-36
Other Stockholders Equity	49,380
Total Stockholder Equity (calculated)	166,804
+/-	0

Other

Capital Stock	48,181
Cash and Short Term Investments	80,269
Common Stock Shares Outstanding	30,847
Current Deferred Revenue	26,906
Liabilities and Stockholders Equity	345,249
Net Debt	36,517
Net Invested Capital	166,804
Net Working Capital	61,253
Property Plant and Equipment Gross	296,739
Short Long Term Debt Total	116,786

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

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2018-12-31

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2017-12-31

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2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

> Total Assets

0
0
0
139,355
0
0
0
162,729
156,098
176,679
192,494
214,792
207,684
226,157
237,931
226,216
232,941
235,806
237,349
246,183
244,252
249,248
248,348
268,042
332,618
338,563
367,874
388,368
377,362
389,260
370,692
412,822
382,601
380,443
366,462
362,251
356,352
333,601
333,928
346,774
298,658
287,140
290,286
305,949
242,058
240,159
195,447
213,707
176,896
175,593
221,908
210,279
190,300
178,998
190,394
163,207
136,909
130,231
117,559
155,213
116,871
115,795
122,581
146,038
155,989
154,898
161,737
194,763
169,251
194,901
205,816
245,190
239,853
244,646
253,456
295,299
287,688
285,416
291,276
291,566
281,093
311,418
315,778
345,249

345,249

315,778

311,418

281,093

291,566

291,276

285,416

287,688

295,299

253,456

244,646

239,853

245,190

205,816

194,901

169,251

194,763

161,737

154,898

155,989

146,038

122,581

115,795

116,871

155,213

117,559

130,231

136,909

163,207

190,394

178,998

190,300

210,279

221,908

175,593

176,896

213,707

195,447

240,159

242,058

305,949

290,286

287,140

298,658

346,774

333,928

333,601

356,352

362,251

366,462

380,443

382,601

412,822

370,692

389,260

377,362

388,368

367,874

338,563

332,618

268,042

248,348

249,248

244,252

246,183

237,349

235,806

232,941

226,216

237,931

226,157

207,684

214,792

192,494

176,679

156,098

162,729

139,355

> Total Current Assets

0
0
0
68,661
0
0
0
64,224
36,146
56,315
69,716
73,158
65,390
37,529
49,432
38,168
42,499
44,753
41,825
43,761
39,044
42,958
43,115
51,261
58,478
63,201
93,056
105,961
84,459
93,377
71,750
117,492
84,964
78,742
73,731
72,658
72,465
73,266
73,491
99,513
57,022
53,776
61,594
103,622
44,509
45,929
43,466
113,064
79,407
80,877
106,629
105,264
89,181
79,427
91,161
66,297
59,336
52,827
40,159
44,178
37,855
36,655
44,392
57,111
37,736
40,178
44,362
50,477
42,492
61,006
66,844
74,164
70,782
72,500
110,953
121,627
113,028
111,464
111,049
114,135
107,587
137,490
130,676
134,663

134,663

130,676

137,490

107,587

114,135

111,049

111,464

113,028

121,627

110,953

72,500

70,782

74,164

66,844

61,006

42,492

50,477

44,362

40,178

37,736

57,111

44,392

36,655

37,855

44,178

40,159

52,827

59,336

66,297

91,161

79,427

89,181

105,264

106,629

80,877

79,407

113,064

43,466

45,929

44,509

103,622

61,594

53,776

57,022

99,513

73,491

73,266

72,465

72,658

73,731

78,742

84,964

117,492

71,750

93,377

84,459

105,961

93,056

63,201

58,478

51,261

43,115

42,958

39,044

43,761

41,825

44,753

42,499

38,168

49,432

37,529

65,390

73,158

69,716

56,315

36,146

64,224

68,661

Cash And Cash Equivalents

0
0
0
48,965
0
0
0
41,445
10,049
30,122
44,695
50,257
41,427
5,467
12,440
6,461
4,658
5,697
3,537
3,502
5,620
8,891
6,145
15,234
15,220
12,638
38,056
46,076
33,792
28,190
14,430
65,995
43,664
30,291
26,133
26,524
27,606
19,994
20,429
61,708
17,289
4,266
6,250
67,386
7,086
6,759
12,702
42,299
5,180
4,850
32,422
38,420
20,166
10,950
19,240
21,064
8,707
7,210
7,277
14,563
4,863
3,081
10,183
17,571
5,683
6,489
11,757
23,644
9,741
23,342
26,520
38,026
26,742
33,007
47,150
83,307
65,599
66,985
69,619
46,074
40,280
66,356
41,717
80,269

80,269

41,717

66,356

40,280

46,074

69,619

66,985

65,599

83,307

47,150

33,007

26,742

38,026

26,520

23,342

9,741

23,644

11,757

6,489

5,683

17,571

10,183

3,081

4,863

14,563

7,277

7,210

8,707

21,064

19,240

10,950

20,166

38,420

32,422

4,850

5,180

42,299

12,702

6,759

7,086

67,386

6,250

4,266

17,289

61,708

20,429

19,994

27,606

26,524

26,133

30,291

43,664

65,995

14,430

28,190

33,792

46,076

38,056

12,638

15,220

15,234

6,145

8,891

5,620

3,502

3,537

5,697

4,658

6,461

12,440

5,467

41,427

50,257

44,695

30,122

10,049

41,445

48,965

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
920
1,480
1,458
1,532
0
0
0
0
383
389
368
368
858
374
369
1,058
694
371
1
1
0
0
0
0
0
0
0
0
54,500
0
0
0
30,000
0
0
7,358
7,362
7,371
6,555
6,282
6,399
11,189
6,189
7,189
7,189
8,490
8,490
7,820
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,758
14,758
24,344
24,344
0

24,344

14,758

7,820

8,490

7,189

6,189

11,189

6,399

6,282

6,555

7,371

7,362

7,358

30,000

54,500

371

694

1,058

369

374

858

368

389

383

1,532

1,458

1,480

920

Net Receivables

0
0
0
10,803
0
0
0
12,820
14,213
13,617
15,287
14,402
13,072
16,318
22,574
20,473
19,519
19,844
20,353
29,373
19,616
22,023
25,605
23,685
25,268
28,188
33,760
36,614
29,309
33,738
38,695
33,697
23,412
20,413
20,405
19,696
17,229
18,600
19,574
17,370
15,733
20,756
25,960
16,127
17,701
18,569
18,193
13,533
15,725
17,574
17,016
9,613
10,709
11,671
13,741
10,294
17,386
17,886
18,503
15,791
19,643
20,685
21,659
18,675
22,577
22,083
22,094
20,652
26,504
27,906
33,553
30,021
30,604
31,718
29,985
26,159
34,866
31,592
31,902
37,175
34,856
32,050
40,261
35,692

35,692

40,261

32,050

34,856

37,175

31,902

31,592

34,866

26,159

29,985

31,718

30,604

30,021

33,553

27,906

26,504

20,652

22,094

22,083

22,577

18,675

21,659

20,685

19,643

15,791

18,503

17,886

17,386

10,294

13,741

11,671

10,709

9,613

17,016

17,574

15,725

13,533

18,193

18,569

17,701

16,127

25,960

20,756

15,733

17,370

19,574

18,600

17,229

19,696

20,405

20,413

23,412

33,697

38,695

33,738

29,309

36,614

33,760

28,188

25,268

23,685

25,605

22,023

19,616

29,373

20,353

19,844

19,519

20,473

22,574

16,318

13,072

14,402

15,287

13,617

14,213

12,820

10,803

Other Current Assets

0
0
0
7,806
0
0
0
893
893
893
7,747
6,735
2,000
13,563
11,847
8,796
15,899
17,160
73
8,346
11,226
9,248
7,655
8,968
14,636
50,563
55,000
19,942
50,667
27,628
57,320
14,245
14,356
48,451
23,810
23,387
44,859
53,272
53,062
17,758
21,304
25,804
27,004
72,340
17,602
18,408
10,349
85,746
56,909
56,856
55,580
82,643
57,210
52,599
64,598
39,646
31,575
25,847
12,592
12,707
11,439
11,087
10,239
19,414
7,784
9,520
8,612
4,573
4,412
58,380
3,905
3,723
10,770
4,448
30,663
9,440
9,923
9,805
6,814
109,922
103,378
7,973
126,400
15,754

15,754

126,400

7,973

103,378

109,922

6,814

9,805

9,923

9,440

30,663

4,448

10,770

3,723

3,905

58,380

4,412

4,573

8,612

9,520

7,784

19,414

10,239

11,087

11,439

12,707

12,592

25,847

31,575

39,646

64,598

52,599

57,210

82,643

55,580

56,856

56,909

85,746

10,349

18,408

17,602

72,340

27,004

25,804

21,304

17,758

53,062

53,272

44,859

23,387

23,810

48,451

14,356

14,245

57,320

27,628

50,667

19,942

55,000

50,563

14,636

8,968

7,655

9,248

11,226

8,346

17,160

15,899

8,796

11,847

13,563

2,000

6,735

7,747

893

7,806

> Long-term Assets

0
0
0
70,694
0
0
0
98,505
119,952
120,364
122,778
141,634
142,294
188,628
188,499
188,048
190,442
191,053
195,524
202,422
205,208
206,290
205,233
216,781
274,140
275,362
274,818
282,407
292,903
295,883
298,942
295,330
297,637
301,701
292,731
289,593
283,887
260,335
260,437
247,261
241,636
233,364
228,692
202,327
197,549
194,230
151,981
100,643
97,489
94,716
115,279
105,015
101,119
99,571
99,233
96,910
77,573
77,404
77,400
111,035
79,016
79,140
78,189
88,927
118,253
114,720
117,375
144,286
126,759
133,895
138,972
171,026
169,071
172,146
142,503
173,672
174,660
173,952
180,227
177,431
173,506
173,928
185,102
210,586

210,586

185,102

173,928

173,506

177,431

180,227

173,952

174,660

173,672

142,503

172,146

169,071

171,026

138,972

133,895

126,759

144,286

117,375

114,720

118,253

88,927

78,189

79,140

79,016

111,035

77,400

77,404

77,573

96,910

99,233

99,571

101,119

105,015

115,279

94,716

97,489

100,643

151,981

194,230

197,549

202,327

228,692

233,364

241,636

247,261

260,437

260,335

283,887

289,593

292,731

301,701

297,637

295,330

298,942

295,883

292,903

282,407

274,818

275,362

274,140

216,781

205,233

206,290

205,208

202,422

195,524

191,053

190,442

188,048

188,499

188,628

142,294

141,634

122,778

120,364

119,952

98,505

70,694

Property Plant Equipment

0
0
0
42,035
0
0
0
55,149
56,515
56,967
59,578
68,932
69,390
94,293
93,268
94,368
96,043
98,091
101,061
106,564
108,248
108,429
107,517
108,567
142,093
141,037
139,206
149,310
159,800
163,527
166,588
172,431
175,616
180,880
180,360
180,014
175,300
162,453
158,492
154,096
146,937
141,113
137,371
127,332
124,126
121,282
117,173
69,740
66,806
63,919
66,627
66,508
60,476
59,079
57,956
55,445
55,056
55,132
54,083
52,866
54,017
53,468
50,891
49,292
87,099
85,431
86,959
98,410
96,455
102,569
106,778
103,575
102,190
105,527
76,284
114,606
118,824
114,669
119,364
117,037
118,281
121,474
131,268
156,577

156,577

131,268

121,474

118,281

117,037

119,364

114,669

118,824

114,606

76,284

105,527

102,190

103,575

106,778

102,569

96,455

98,410

86,959

85,431

87,099

49,292

50,891

53,468

54,017

52,866

54,083

55,132

55,056

55,445

57,956

59,079

60,476

66,508

66,627

63,919

66,806

69,740

117,173

121,282

124,126

127,332

137,371

141,113

146,937

154,096

158,492

162,453

175,300

180,014

180,360

180,880

175,616

172,431

166,588

163,527

159,800

149,310

139,206

141,037

142,093

108,567

107,517

108,429

108,248

106,564

101,061

98,091

96,043

94,368

93,268

94,293

69,390

68,932

59,578

56,967

56,515

55,149

42,035

Goodwill

0
0
0
19,951
0
0
0
32,802
50,709
51,347
51,253
59,467
59,476
82,578
84,578
84,995
84,995
82,860
82,860
82,714
82,714
82,714
82,714
91,460
113,089
111,926
111,973
112,953
112,953
112,953
112,953
106,709
106,709
106,709
97,371
97,371
97,371
83,856
83,856
65,527
65,527
62,465
62,465
62,465
62,465
62,465
23,511
22,207
22,207
22,207
21,991
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
14,536
10,742
10,742
10,742

10,742

14,536

21,991

22,207

23,511

62,465

65,527

83,856

97,371

106,709

112,953

111,973

111,926

113,089

91,460

82,714

82,860

84,995

84,578

82,578

59,476

59,467

51,253

51,347

50,709

32,802

19,951

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,235
0
0
0
4,993
0
0
0
5,633
0
0
0
8,928
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

8,928

5,633

4,993

6,235

Intangible Assets

0
0
0
19,951
0
0
0
32,802
50,709
51,347
51,253
59,467
62,314
86,783
87,809
87,193
87,366
85,224
82,860
84,922
84,892
84,864
85,192
96,466
121,168
120,329
119,493
119,831
119,079
118,327
117,873
111,363
111,134
110,913
99,839
99,624
99,544
86,218
86,147
2,231
2,175
2,119
2,063
1,881
1,831
1,780
1,213
1,191
1,173
1,157
1,141
50
44
41
37
32
29
25
21
16
12
14,536
14,536
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

14,536

1,141

1,157

1,173

1,191

1,213

1,780

1,831

1,881

2,063

2,119

2,175

2,231

86,147

86,218

99,544

99,624

99,839

110,913

111,134

111,363

117,873

118,327

119,079

119,831

119,493

120,329

121,168

96,466

85,192

84,864

84,892

84,922

82,860

85,224

87,366

87,193

87,809

86,783

62,314

59,467

51,253

51,347

50,709

32,802

19,951

Other Assets

0
0
0
28,659
0
0
0
43,356
63,437
63,397
63,200
72,702
72,904
94,335
95,231
93,680
94,399
92,962
94,463
95,858
96,960
97,861
97,716
108,214
132,047
134,325
135,612
133,097
133,103
132,356
132,354
122,899
122,021
120,821
112,371
109,579
108,587
97,882
101,945
93,165
94,699
92,251
91,321
74,995
73,423
72,948
34,808
30,903
30,683
30,797
48,652
38,507
40,643
40,492
41,277
41,465
22,517
22,272
23,317
57,629
10,451
11,136
12,762
25,099
3,646
14,753
15,880
31,340
15,768
16,790
17,658
108,102
52,345
172,146
253
212
222
218
41,430
53,303
173,506
41,712
-130,676
0

-130,676

41,712

173,506

53,303

41,430

218

222

212

253

172,146

52,345

108,102

17,658

16,790

15,768

31,340

15,880

14,753

3,646

25,099

12,762

11,136

10,451

57,629

23,317

22,272

22,517

41,465

41,277

40,492

40,643

38,507

48,652

30,797

30,683

30,903

34,808

72,948

73,423

74,995

91,321

92,251

94,699

93,165

101,945

97,882

108,587

109,579

112,371

120,821

122,021

122,899

132,354

132,356

133,103

133,097

135,612

134,325

132,047

108,214

97,716

97,861

96,960

95,858

94,463

92,962

94,399

93,680

95,231

94,335

72,904

72,702

63,200

63,397

63,437

43,356

28,659

Deferred Long Term Asset Charges

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
424
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

424

> Total Liabilities

0
0
0
96,431
0
0
0
104,643
96,597
63,477
69,209
78,802
68,299
84,901
93,696
74,433
82,402
86,397
85,384
83,716
80,679
90,188
82,964
93,093
136,341
133,129
147,585
169,732
142,519
140,712
149,478
190,337
148,763
140,858
130,051
123,226
121,874
120,017
122,817
148,297
108,506
106,935
113,871
160,753
108,584
119,195
112,151
130,697
100,227
105,934
149,330
129,282
114,877
106,195
117,429
90,816
92,760
92,339
80,423
109,400
77,652
80,527
87,731
106,172
121,402
123,030
128,157
151,615
116,360
152,839
148,539
154,123
133,011
134,923
139,511
165,881
147,103
146,933
153,132
146,689
145,839
156,953
158,613
178,445

178,445

158,613

156,953

145,839

146,689

153,132

146,933

147,103

165,881

139,511

134,923

133,011

154,123

148,539

152,839

116,360

151,615

128,157

123,030

121,402

106,172

87,731

80,527

77,652

109,400

80,423

92,339

92,760

90,816

117,429

106,195

114,877

129,282

149,330

105,934

100,227

130,697

112,151

119,195

108,584

160,753

113,871

106,935

108,506

148,297

122,817

120,017

121,874

123,226

130,051

140,858

148,763

190,337

149,478

140,712

142,519

169,732

147,585

133,129

136,341

93,093

82,964

90,188

80,679

83,716

85,384

86,397

82,402

74,433

93,696

84,901

68,299

78,802

69,209

63,477

96,597

104,643

96,431

> Total Current Liabilities

0
0
0
55,259
0
0
0
59,654
50,928
48,680
55,008
63,873
52,968
51,112
61,700
59,111
53,826
49,206
63,288
61,713
56,802
52,228
66,007
71,101
86,975
83,700
98,203
101,467
94,151
91,991
100,672
121,668
100,250
92,142
81,295
71,118
69,552
67,696
70,550
58,574
56,924
55,926
63,298
56,581
53,961
69,757
68,501
83,479
53,321
59,585
64,128
71,446
74,223
65,475
76,617
68,330
57,093
56,934
53,364
47,484
46,501
47,731
55,348
64,581
59,751
62,759
68,124
57,205
51,080
68,571
71,278
66,842
60,550
62,474
68,875
65,882
55,047
58,190
59,883
55,020
54,574
68,662
66,100
73,410

73,410

66,100

68,662

54,574

55,020

59,883

58,190

55,047

65,882

68,875

62,474

60,550

66,842

71,278

68,571

51,080

57,205

68,124

62,759

59,751

64,581

55,348

47,731

46,501

47,484

53,364

56,934

57,093

68,330

76,617

65,475

74,223

71,446

64,128

59,585

53,321

83,479

68,501

69,757

53,961

56,581

63,298

55,926

56,924

58,574

70,550

67,696

69,552

71,118

81,295

92,142

100,250

121,668

100,672

91,991

94,151

101,467

98,203

83,700

86,975

71,101

66,007

52,228

56,802

61,713

63,288

49,206

53,826

59,111

61,700

51,112

52,968

63,873

55,008

48,680

50,928

59,654

55,259

Short-term Debt

0
0
0
3,624
0
0
0
5,311
311
317
311
283
255
1,034
335
91
92
94
206
204
189
168
147
130
10,667
5,502
391
383
380
386
402
437
455
476
510
481
450
419
409
412
415
418
426
435
443
15,452
7,962
30,471
480
6,490
6,328
10,114
15,033
13,355
11,678
11,713
5,000
8,000
14,619
11,771
11,713
12,220
13,783
15,000
13,143
14,419
16,206
11,142
11,372
10,222
10,323
10,504
11,370
12,011
12,314
11,479
11,228
11,643
10,313
9,631
10,057
10,408
10,917
11,807

11,807

10,917

10,408

10,057

9,631

10,313

11,643

11,228

11,479

12,314

12,011

11,370

10,504

10,323

10,222

11,372

11,142

16,206

14,419

13,143

15,000

13,783

12,220

11,713

11,771

14,619

8,000

5,000

11,713

11,678

13,355

15,033

10,114

6,328

6,490

480

30,471

7,962

15,452

443

435

426

418

415

412

409

419

450

481

510

476

455

437

402

386

380

383

391

5,502

10,667

130

147

168

189

204

206

335

1,034

255

283

311

317

311

5,311

3,624

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
30,000
0
0
0
10,000
0
0
0
11,713
5,000
32,023
16,721
52,593
22,300
24,292
0
15,000
3,635
4,579
7,117
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
0
0
0
0
0
0
0
0
0

2,000

7,117

4,579

3,635

15,000

24,292

22,300

52,593

16,721

32,023

5,000

11,713

10,000

30,000

Accounts payable

0
0
0
9,022
0
0
0
10,664
11,994
12,178
11,992
12,675
11,366
10,696
16,123
12,118
12,910
13,833
14,543
13,721
13,527
11,643
13,655
12,349
15,492
15,720
17,288
19,649
21,098
19,909
19,130
25,617
21,247
19,638
19,674
15,468
14,069
12,804
14,027
13,500
11,992
9,724
11,160
14,603
9,823
11,097
9,818
11,894
11,538
14,913
15,184
12,863
13,324
11,892
17,137
13,748
10,574
14,235
10,423
10,508
13,386
15,587
19,483
14,107
14,544
18,411
18,899
14,584
12,699
14,058
17,580
15,676
17,718
13,385
16,036
12,297
13,083
13,943
16,242
10,496
12,944
16,844
17,582
18,152

18,152

17,582

16,844

12,944

10,496

16,242

13,943

13,083

12,297

16,036

13,385

17,718

15,676

17,580

14,058

12,699

14,584

18,899

18,411

14,544

14,107

19,483

15,587

13,386

10,508

10,423

14,235

10,574

13,748

17,137

11,892

13,324

12,863

15,184

14,913

11,538

11,894

9,818

11,097

9,823

14,603

11,160

9,724

11,992

13,500

14,027

12,804

14,069

15,468

19,674

19,638

21,247

25,617

19,130

19,909

21,098

19,649

17,288

15,720

15,492

12,349

13,655

11,643

13,527

13,721

14,543

13,833

12,910

12,118

16,123

10,696

11,366

12,675

11,992

12,178

11,994

10,664

9,022

Other Current Liabilities

0
0
0
16,364
0
0
0
12,494
10,189
12,094
12,266
15,985
10,151
12,073
12,562
13,752
11,420
9,963
13,934
12,978
11,950
11,441
16,567
19,816
17,485
21,738
33,088
33,348
22,632
47,775
28,034
44,670
50,432
50,288
47,070
11,927
42,164
39,991
41,364
10,014
11,939
15,870
15,920
11,348
12,687
15,611
15,863
14,645
14,524
15,831
15,813
27,079
29,766
25,069
27,943
25,346
18,352
14,171
2,122
558
512
505
557
12,929
13,736
10,213
10,118
8,068
8,725
26,718
24,021
17,209
11,222
14,895
15,834
16,701
9,544
10,922
10,584
10,739
10,594
18,482
15,757
16,545

16,545

15,757

18,482

10,594

10,739

10,584

10,922

9,544

16,701

15,834

14,895

11,222

17,209

24,021

26,718

8,725

8,068

10,118

10,213

13,736

12,929

557

505

512

558

2,122

14,171

18,352

25,346

27,943

25,069

29,766

27,079

15,813

15,831

14,524

14,645

15,863

15,611

12,687

11,348

15,920

15,870

11,939

10,014

41,364

39,991

42,164

11,927

47,070

50,288

50,432

44,670

28,034

47,775

22,632

33,348

33,088

21,738

17,485

19,816

16,567

11,441

11,950

12,978

13,934

9,963

11,420

13,752

12,562

12,073

10,151

15,985

12,266

12,094

10,189

12,494

16,364

> Long-term Liabilities

0
0
0
41,172
0
0
0
44,989
45,669
14,797
14,201
14,929
15,331
33,789
31,996
15,322
28,576
37,191
22,096
22,003
23,877
37,960
16,957
21,992
49,366
49,429
49,382
68,265
48,368
48,721
48,806
68,669
48,513
48,716
48,756
52,108
52,322
52,321
52,267
89,723
51,582
51,009
50,573
104,172
54,623
49,438
43,650
47,218
46,906
46,349
85,202
57,836
40,654
40,720
40,812
22,486
35,667
35,405
27,059
61,916
31,151
32,796
32,383
41,591
61,651
60,271
60,033
94,410
65,280
84,268
77,261
87,281
72,461
72,449
70,636
99,999
92,056
88,743
93,249
91,669
91,265
88,291
92,513
105,035

105,035

92,513

88,291

91,265

91,669

93,249

88,743

92,056

99,999

70,636

72,449

72,461

87,281

77,261

84,268

65,280

94,410

60,033

60,271

61,651

41,591

32,383

32,796

31,151

61,916

27,059

35,405

35,667

22,486

40,812

40,720

40,654

57,836

85,202

46,349

46,906

47,218

43,650

49,438

54,623

104,172

50,573

51,009

51,582

89,723

52,267

52,321

52,322

52,108

48,756

48,716

48,513

68,669

48,806

48,721

48,368

68,265

49,382

49,429

49,366

21,992

16,957

37,960

23,877

22,003

22,096

37,191

28,576

15,322

31,996

33,789

15,331

14,929

14,201

14,797

45,669

44,989

41,172

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
36,271
36,127
36,027
35,924
35,828
35,725
73,115
35,510
35,402
35,293
89,681
40,066
34,950
0
0
0
0
0
0
0
0
0
0
0
0
0
0
22,300
24,292
24,374
33,769
20,958
21,435
19,785
32,028
16,576
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

16,576

32,028

19,785

21,435

20,958

33,769

24,374

24,292

22,300

34,950

40,066

89,681

35,293

35,402

35,510

73,115

35,725

35,828

35,924

36,027

36,127

36,271

Deferred Long Term Asset Charges

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
424
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

424

Warrants

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,982
11,982
11,982
11,982
11,982
11,982
11,982
11,982
11,982
11,982
11,982
11,982
0
0
0
0
0

11,982

Other Liabilities

0
0
0
1,736
0
0
0
75
3,974
4,192
3,667
4,444
4,897
5,115
5,314
5,553
5,830
5,969
6,874
6,829
6,741
6,855
6,882
11,948
11,978
12,328
12,395
11,320
11,522
11,974
12,168
12,161
12,122
12,445
12,629
16,081
16,398
16,493
16,542
16,608
16,072
15,607
15,280
9,963
9,648
9,198
8,819
12,508
12,320
11,889
12,049
9,726
9,367
9,210
9,078
10,007
11,511
11,382
10,338
9,323
8,851
8,504
8,009
7,822
4,341
4,371
4,306
4,282
4,124
4,017
5,355
58,087
6,709
56,146
54,788
88,017
1,509
88,743
1,250
668
91,265
638
0
0

638

91,265

668

1,250

88,743

1,509

88,017

54,788

56,146

6,709

58,087

5,355

4,017

4,124

4,282

4,306

4,371

4,341

7,822

8,009

8,504

8,851

9,323

10,338

11,382

11,511

10,007

9,078

9,210

9,367

9,726

12,049

11,889

12,320

12,508

8,819

9,198

9,648

9,963

15,280

15,607

16,072

16,608

16,542

16,493

16,398

16,081

12,629

12,445

12,122

12,161

12,168

11,974

11,522

11,320

12,395

12,328

11,978

11,948

6,882

6,855

6,741

6,829

6,874

5,969

5,830

5,553

5,314

5,115

4,897

4,444

3,667

4,192

3,974

1,736

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,528
0
0
0
158
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
93
93
153
153
153
153
0
0
0
0
0
0
0
0
0
0
0
0
0

153

158

4,528

> Total Stockholder Equity

0
0
0
42,924
0
0
0
58,086
59,501
113,202
123,285
135,990
139,385
141,256
144,235
151,783
150,539
149,409
151,965
162,467
163,573
159,060
165,384
174,949
196,277
205,434
220,289
218,636
234,843
248,548
221,214
222,485
233,838
239,585
236,411
239,025
234,478
213,584
211,111
198,477
190,152
180,205
176,415
145,196
133,474
120,964
83,296
83,010
76,669
69,659
72,578
80,997
75,423
72,803
72,965
72,391
44,149
37,892
37,136
45,813
39,219
35,268
34,850
39,866
34,587
31,868
33,580
43,148
52,891
42,062
57,277
91,067
106,842
109,723
113,945
129,418
140,585
138,483
138,144
144,877
135,254
154,465
157,165
166,804

166,804

157,165

154,465

135,254

144,877

138,144

138,483

140,585

129,418

113,945

109,723

106,842

91,067

57,277

42,062

52,891

43,148

33,580

31,868

34,587

39,866

34,850

35,268

39,219

45,813

37,136

37,892

44,149

72,391

72,965

72,803

75,423

80,997

72,578

69,659

76,669

83,010

83,296

120,964

133,474

145,196

176,415

180,205

190,152

198,477

211,111

213,584

234,478

239,025

236,411

239,585

233,838

222,485

221,214

248,548

234,843

218,636

220,289

205,434

196,277

174,949

165,384

159,060

163,573

162,467

151,965

149,409

150,539

151,783

144,235

141,256

139,385

135,990

123,285

113,202

59,501

58,086

42,924

Common Stock

0
0
0
62,385
0
0
0
62,385
62,385
115,856
119,446
119,453
119,681
119,875
120,122
120,182
120,217
120,293
120,327
120,379
120,441
120,446
120,453
120,597
135,580
136,701
137,088
137,689
138,491
140,480
140,556
140,726
140,839
140,954
141,307
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
141,377
55,979
51,784
49,072
48,516
48,181
48,181
48,181

48,181

48,516

49,072

51,784

55,979

141,377

141,307

140,954

140,839

140,726

140,556

140,480

138,491

137,689

137,088

136,701

135,580

120,597

120,453

120,446

120,441

120,379

120,327

120,293

120,217

120,182

120,122

119,875

119,681

119,453

119,446

115,856

62,385

Retained Earnings Total Equity

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
167,026
163,092
167,689
163,045
140,742
137,660
124,059
114,916
103,852
99,890
66,064
53,298
40,015
1,452
5,610
-1,273
-8,878
-6,297
2,260
-3,808
-6,946
-7,417
-26,044
-36,973
-43,744
-45,234
-37,528
-44,402
-48,506
-49,106
-44,073
-49,540
-52,604
-51,264
-42,058
-43,808
-43,025
-39,513
6,203
10,388
12,510
16,045
39,702
39,670
39,625
42,865
51,225
43,173
60,423
0
0

60,423

43,173

51,225

42,865

39,625

39,670

39,702

16,045

12,510

10,388

6,203

-39,513

-43,025

-43,808

-42,058

-51,264

-52,604

-49,540

-44,073

-49,106

-48,506

-44,402

-37,528

-45,234

-43,744

-36,973

-26,044

-7,417

-6,946

-3,808

2,260

-6,297

-8,878

-1,273

5,610

1,452

40,015

53,298

66,064

99,890

103,852

114,916

124,059

137,660

140,742

163,045

167,689

163,092

167,026

Accumulated Other Comprehensive Income

-36

-1,039

-1,013

-1,008

-960

-1,301

-1,280

-1,270

-1,240

-4,242

-4,173

-4,088

-4,165

-3,822

-4,019

-4,064

-3,456

-3,600

-3,754

-3,908

-4,062

-4,025

-4,187

-4,348

-4,510

-5,220

-5,660

-5,881

-6,101

-6,406

-6,628

-6,850

-7,072

-6,773

-7,005

-7,236

-7,467

-3,224

-3,337

-3,450

-3,562

-6,326

-6,476

-6,626

-6,776

-6,716

-4,748

-4,901

-5,783

-9,402

-5,987

-6,213

-6,037

-5,314

-2,972

-3,059

-2,818

-2,878

-527

-587

-396

-360

-1,000

-47,445

-181

-432

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19,213
19,620
19,535
19,632
21,041
21,650
22,677
23,345
24,312
24,334
24,177
25,109
25,769
26,551
26,350
26,661
27,025
27,131
27,292
27,564
27,860
28,271
28,554
28,486
28,779
29,073
29,334
29,452
29,444
29,464
29,484
29,518
29,709
29,927
30,145
30,264
30,589
30,113
30,512
30,043
30,887
31,643
32,439
31,686
32,177
32,814
45,540
44,573
46,874
0
0

46,874

44,573

45,540

32,814

32,177

31,686

32,439

31,643

30,887

30,043

30,512

30,113

30,589

30,264

30,145

29,927

29,709

29,518

29,484

29,464

29,444

29,452

29,334

29,073

28,779

28,486

28,554

28,271

27,860

27,564

27,292

27,131

27,025

26,661

26,350

26,551

25,769

25,109

24,177

24,334

24,312

23,345

22,677

21,650

21,041

19,632

19,535

19,620

19,213

Treasury Stock

-82,860

-82,771

-35,920

-32,771

-6,584

-6,375

Other Stockholders Equity

0
0
0
1,426
0
0
0
3,359
51,266
51,454
6,017
5,665
125,787
126,883
127,570
127,877
128,291
129,102
129,533
12,378
13,661
128,524
8,463
8,535
141,018
142,748
143,947
119,079
120,826
121,335
75,120
75,244
76,405
77,307
78,067
78,052
78,149
79,558
80,167
-60,183
-59,515
-58,548
-58,526
-58,683
-57,751
-57,091
-56,309
-56,510
-56,199
-55,835
-55,729
-55,568
-55,296
-55,000
-54,589
-54,306
-54,374
-54,081
-53,787
-53,526
-53,408
-53,416
-53,396
-53,376
-53,342
-53,151
-52,933
-64,697
-52,596
-64,253
-52,747
-64,330
-52,817
-51,973
-51,217
-62,403
-51,174
32,177
32,814
45,540
44,573
46,874
47,536
49,380

49,380

47,536

46,874

44,573

45,540

32,814

32,177

-51,174

-62,403

-51,217

-51,973

-52,817

-64,330

-52,747

-64,253

-52,596

-64,697

-52,933

-53,151

-53,342

-53,376

-53,396

-53,416

-53,408

-53,526

-53,787

-54,081

-54,374

-54,306

-54,589

-55,000

-55,296

-55,568

-55,729

-55,835

-56,199

-56,510

-56,309

-57,091

-57,751

-58,683

-58,526

-58,548

-59,515

-60,183

80,167

79,558

78,149

78,052

78,067

77,307

76,405

75,244

75,120

121,335

120,826

119,079

143,947

142,748

141,018

8,535

8,463

128,524

13,661

12,378

129,533

129,102

128,291

127,877

127,570

126,883

125,787

5,665

6,017

51,454

51,266

3,359

1,426

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Accounts Payable	18,152	10,496	12,297	15,676	14,584	14,107	10,508	13,748	12,863	11,894	14,603	13,500	15,468	25,617	19,649	12,349	13,721	12,118	12,675	10,664	9,022	-	0
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Other Comprehensive Income	-36	-960	-1,240	-4,165	-3,456	-4,062	-4,510	-6,101	-7,072	-7,467	-3,562	-6,776	-6,716	-4,748	-4,901	-9,402	-5,314	-2,878	-360	-181	-432	-	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Lease Obligations	116,786	100,632	97,889	61,206	55,160	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Stock	48,181	49,072	153,359	153,359	153,359	141,377	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Surpluse	0	45,540	32,439	30,512	30,145	29,484	29,334	28,554	27,292	26,350	24,177	22,677	19,535	0	0	0	0	0	0	0	0	-	0
Cash	80,269	46,074	83,307	38,026	23,644	17,571	14,563	21,064	38,420	42,299	67,386	61,708	26,524	65,995	46,076	15,234	3,502	6,461	50,257	41,445	48,965	-	7,400
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash And Short Term Investments	80,269	60,832	83,307	38,026	23,644	17,571	14,563	21,064	38,420	42,299	67,386	61,708	26,524	65,995	46,076	15,234	3,502	6,461	50,257	41,445	48,965	-	7,400
Common Stock	48,181	49,072	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	140,726	137,689	120,597	120,379	120,182	119,453	62,385	62,385	-	0
Common Stock Shares Outstanding	30,541	25,879	25,081	24,748	24,554	24,423	23,906	23,453	23,167	22,814	22,513	22,195	22,155	25,024	27,095	25,984	26,090	26,086	24,503	23,095	22,364	21,662	21,355
Common Stock Total Equity	0	49,072	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	0	0	120,597	120,379	0	119,453	62,385	62,385	-	0
Current Deferred Revenue	26,906	24,154	25,405	23,453	23,411	22,545	24,647	17,523	21,390	26,469	30,195	34,648	43,242	50,944	48,087	38,806	34,810	33,150	34,930	31,185	26,249	-	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	424	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Deferred Long Term Liab	0	0	0	0	153	0	0	0	0	158	4,528	0	0	0	0	0	0	0	0	0	0	-	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Good Will	10,742	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	22,207	62,465	65,527	97,371	106,709	112,953	91,460	82,714	84,995	59,467	32,802	19,951	-	0
Intangible Assets	0	0	0	0	0	0	16	32	50	1,191	1,881	2,231	99,624	111,363	119,831	96,466	84,922	87,193	59,467	32,802	19,951	-	0
Inventory	2,948	2,618	2,721	2,394	1,608	1,451	1,657	1,058	1,043	1,486	2,269	2,677	3,051	3,555	3,329	3,374	2,540	2,438	1,764	1,664	1,087	-	0
Liabilities And Stockholders Equity	345,249	291,566	295,299	245,190	194,763	146,038	155,213	163,207	210,279	213,707	305,949	346,774	362,251	412,822	388,368	268,042	246,183	226,216	214,792	162,729	139,355	-	89,119
Long Term Debt	0	0	0	15,212	32,028	33,769	52,593	30,244	32,124	34,710	89,681	73,115	36,027	56,508	56,945	10,044	15,174	9,769	10,485	41,518	39,436	-	0
Long Term Debt Total	0	0	0	0	32,028	33,769	52,593	30,244	45,581	34,710	89,681	73,115	36,027	0	0	0	0	0	0	0	0	-	0
Long Term Investments	0	0	0	0	0	0	8,928	5,633	0	6,235	0	0	0	0	0	0	0	0	0	0	0	-	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Debt	36,517	54,558	14,582	40,392	65,544	31,198	38,030	20,893	19,804	22,882	22,730	11,819	9,984	-9,050	11,252	-5,060	11,876	3,399	-39,489	5,384	-5,905	-	-7,400
Net Invested Capital	166,804	144,877	129,418	108,279	77,176	88,635	98,406	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Receivables	35,692	37,175	26,159	30,021	20,652	18,675	15,791	10,294	9,613	13,533	16,127	17,370	19,696	33,697	36,614	23,685	29,373	20,473	14,402	12,820	10,803	-	0
Net Tangible Assets	0	144,877	129,418	103,049	55,130	39,866	31,277	40,390	66,411	60,803	145,196	198,477	239,025	0	0	0	0	0	0	0	0	-	0
Net Working Capital	61,253	59,115	55,745	7,322	-6,728	-7,470	-2,766	-2,033	33,818	29,585	47,041	40,939	1,540	-4,176	4,494	-19,840	-17,952	-20,943	9,285	4,570	13,402	-	0
Non Current Assets Total	210,586	177,431	173,672	171,026	144,286	88,927	111,035	96,910	105,015	100,643	202,327	247,261	289,593	295,330	282,407	216,781	202,422	188,048	141,634	98,505	70,694	-	0
Non Current Liabilities Other	56	91,001	86,410	55,835	46,232	141	548	743	0	357	0	0	0	0	0	0	0	0	0	0	0	-	0
Non Current Liabilities Total	105,035	91,669	99,999	87,281	94,410	41,591	61,916	22,486	57,836	47,218	104,172	89,723	52,108	68,669	68,265	21,992	22,003	15,322	14,929	44,989	41,172	-	0
Non Currrent Assets Other	2,546	812	794	734	31,340	12,500	33,725	26,897	23,921	7,505	2,617	1,459	4,759	6,872	8,298	9,674	7,644	5,997	10,445	8,388	7,716	-	0
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Other Assets	0	53,303	212	108,102	31,340	25,099	43,093	28,658	16,399	1,270	3,780	19,298	4,383	4,729	7,002	8,422	9,328	5,764	10,148	9,722	8,116	-	0
Other Current Assets	15,754	109,922	9,440	3,723	4,573	19,414	12,707	39,646	82,643	85,746	72,340	17,758	23,387	51,497	59,885	8,968	8,346	8,796	6,735	893	7,806	-	0
Other Current Liab	16,545	10,739	16,701	17,209	8,068	12,929	558	25,346	27,079	14,645	11,348	10,014	11,927	44,670	33,348	19,816	12,978	13,752	15,985	12,494	16,364	-	0
Other Liab	0	668	88,017	58,087	4,282	7,822	9,323	11,777	10,265	12,508	9,963	16,608	16,081	12,161	11,320	11,948	6,829	5,553	4,444	75	1,736	-	0
Other Stockholder Equity	49,380	45,540	-62,403	-64,330	-64,697	-53,376	-53,526	-54,306	-55,568	-56,510	-58,683	-60,183	78,052	75,244	119,079	8,535	12,378	127,877	5,665	3,359	1,426	-	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Property Plant And Equipment Gross	296,739	263,404	267,941	103,575	98,410	49,292	52,866	55,445	66,508	69,740	127,332	154,096	180,014	172,431	149,310	108,567	106,564	94,368	68,932	55,149	42,035	-	0
Property Plant And Equipment Net	156,577	117,037	114,606	103,575	98,410	49,292	52,866	55,445	66,508	69,740	127,332	154,096	180,014	172,431	149,310	108,567	106,564	94,368	68,932	55,149	42,035	-	0
Property Plant Equipment	0	23,940	23,119	48,388	49,345	49,292	52,866	55,445	66,625	69,740	127,332	154,096	180,014	172,431	149,310	108,567	106,564	94,368	68,932	55,149	42,035	-	0
Retained Earnings	69,279	51,225	39,702	6,203	-42,058	-44,073	-37,528	-26,044	2,260	5,610	66,064	124,059	167,689	151,989	104,458	55,219	35,024	26,784	11,232	-7,477	-20,455	-	0
Retained Earnings Total Equity	0	51,225	39,702	6,203	-42,058	-44,073	-37,528	-26,044	0	5,610	66,064	124,059	167,689	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt	0	0	0	2,000	2,000	15,000	52,593	11,713	10,000	30,000	0	0	0	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt Total	116,786	100,632	97,889	78,418	89,188	48,769	52,593	41,957	58,224	65,181	90,116	73,527	36,508	56,945	57,328	10,174	15,378	9,860	10,768	46,829	43,060	-	0
Short Term Debt	11,807	9,631	11,479	10,504	11,142	15,000	11,771	11,713	10,114	30,471	435	412	481	437	383	130	204	91	283	5,311	3,624	-	0
Short Term Investments	0	14,758	0	0	0	0	7,189	6,399	7,362	30,000	54,500	0	0	694	858	383	0	920	0	0	0	-	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Assets	345,249	291,566	295,299	245,190	194,763	146,038	155,213	163,207	210,279	213,707	305,949	346,774	362,251	412,822	388,368	268,042	246,183	226,216	214,792	162,729	139,355	-	89,119
Total Current Assets	134,663	114,135	121,627	74,164	50,477	57,111	44,178	66,297	105,264	113,064	103,622	99,513	72,658	117,492	105,961	51,261	43,761	38,168	73,158	64,224	68,661	-	7,400
Total Current Liabilities	73,410	55,020	65,882	66,842	57,205	64,581	47,484	68,330	71,446	83,479	56,581	58,574	71,118	121,668	101,467	71,101	61,713	59,111	63,873	59,654	55,259	-	0
Total Liab	178,445	146,689	165,881	154,123	151,615	106,172	109,400	90,816	129,282	130,697	160,753	148,297	123,226	190,337	169,732	93,093	83,716	74,433	78,802	104,643	96,431	-	0
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Stockholder Equity	166,804	144,877	129,418	91,067	43,148	39,866	45,813	72,391	80,997	83,010	145,196	198,477	239,025	222,485	218,636	174,949	162,467	151,783	135,990	58,086	42,924	-	34,096
Treasury Stock	0	0	0	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-32,771	-6,584	0	0	0	0	0	-	0
Warrants	0	0	11,982	11,982	11,982	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31
Accounts Payable	18,152	17,582	16,844	12,944	10,496	16,242	13,943	13,083	12,297	16,036	13,385	17,718	15,676	17,580	14,058	12,699	14,584	18,899	18,411	14,544	14,107	19,483	15,587	13,386	10,508	10,423	14,235	10,574	13,748	17,137	11,892	13,324	12,863	15,184	14,913	11,538	11,894	9,818	11,097	9,823	14,603	11,160	9,724	11,992	13,500	14,027	12,804	14,069	15,468	19,674	19,638	21,247	25,617	19,130	19,909	21,098	19,649	17,288	15,720	15,492	12,349	13,655	11,643	13,527	13,721	14,543	13,833	12,910	12,118	16,123	10,696	11,366	12,675	11,992	12,178	11,994	10,664	0	0	0	9,022	0	-	0
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Other Comprehensive Income	-36	-1,039	-1,013	-1,008	-960	-1,301	-1,280	-1,270	-1,240	-4,242	-4,173	-4,088	-4,165	-3,822	-4,019	-4,064	-3,456	-3,600	-3,754	-3,908	-4,062	-4,025	-4,187	-4,348	-4,510	-5,220	-5,660	-5,881	-6,101	-6,406	-6,628	-6,850	-7,072	-6,773	-7,005	-7,236	-7,467	-3,224	-3,337	-3,450	-3,562	-6,326	-6,476	-6,626	-6,776	-6,716	-6,716	-6,716	-6,716	-4,748	-4,748	-4,748	-4,748	-4,901	-4,901	-4,901	-4,901	-5,783	-5,783	-5,783	-9,402	-5,987	-6,213	-6,037	-5,314	-2,972	-3,059	-2,818	-2,878	-527	-587	-396	-360	-1,000	-47,445	-47,445	-181	0	0	0	-432	0	-	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Lease Obligations	116,786	102,808	98,061	100,623	100,632	102,312	99,017	101,775	97,889	59,449	60,639	59,699	61,206	63,562	59,370	53,052	55,160	45,031	44,305	45,860	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Stock	48,181	48,181	48,181	48,516	49,072	63,766	67,961	153,359	153,359	153,359	153,359	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Surpluse	0	0	46,874	44,573	45,540	32,814	32,177	31,686	32,439	31,643	30,887	30,043	30,512	30,113	30,589	30,264	30,145	29,927	29,709	29,518	29,484	29,464	29,444	29,452	29,334	29,073	28,779	28,486	28,554	28,271	27,860	27,564	27,292	27,131	27,025	26,661	26,350	26,551	25,769	25,109	24,177	24,334	24,312	23,345	22,677	21,650	21,041	19,632	19,535	19,620	19,213	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash	80,269	41,717	66,356	40,280	46,074	69,619	66,985	65,599	83,307	47,150	33,007	26,742	38,026	26,520	23,342	9,741	23,644	11,757	6,489	5,683	17,571	10,183	3,081	4,863	14,563	7,277	7,210	8,707	21,064	19,240	10,950	20,166	38,420	32,422	4,850	5,180	42,299	12,702	6,759	7,086	67,386	6,250	4,266	17,289	61,708	20,429	19,994	27,606	26,524	26,133	30,291	43,664	65,995	14,430	28,190	33,792	46,076	38,056	12,638	15,220	15,234	6,145	8,891	5,620	3,502	3,537	5,697	4,658	6,461	12,440	5,467	41,427	50,257	44,695	30,122	10,049	41,445	0	0	0	48,965	0	-	0
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash And Short Term Investments	80,269	66,061	90,700	55,038	60,832	69,619	66,985	65,599	83,307	47,150	33,007	26,742	38,026	26,520	23,342	9,741	23,644	11,757	6,489	5,683	17,571	10,183	3,081	4,863	14,563	7,277	7,210	8,707	21,064	19,240	10,950	20,166	38,420	32,422	4,850	5,180	42,299	12,702	6,759	7,086	67,386	6,250	4,266	17,289	61,708	20,429	19,994	27,606	26,524	26,133	30,291	43,664	65,995	14,430	28,190	33,792	46,076	38,056	12,638	15,220	15,234	6,145	8,891	5,620	3,502	3,537	5,697	4,658	6,461	12,440	5,467	41,427	50,257	44,695	30,122	10,049	41,445	0	0	0	48,965	0	-	0
Common Stock	48,181	48,181	48,181	48,516	49,072	51,784	55,979	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,307	140,954	140,839	140,726	140,556	140,480	138,491	137,689	137,088	136,701	135,580	120,597	120,453	120,446	120,441	120,379	120,327	120,293	120,217	120,182	120,122	119,875	119,681	119,453	119,446	115,856	62,385	62,385	0	0	0	62,385	0	-	0
Common Stock Shares Outstanding	30,847	30,698	30,397	30,039	26,436	25,381	25,963	25,721	25,180	25,135	25,105	24,889	24,831	24,822	24,741	24,598	24,563	24,608	24,555	24,534	24,562	24,533	24,486	24,138	24,590	24,024	23,962	23,609	23,514	23,499	23,448	23,351	23,347	23,270	23,132	23,056	23,004	22,843	22,800	22,723	22,618	22,811	22,497	22,414	22,266	22,281	22,183	22,137	22,137	22,045	22,561	22,418	21,943	24,984	26,439	26,336	25,558	27,371	27,217	26,452	25,704	25,810	26,059	26,249	25,660	26,049	25,483	25,460	25,460	26,120	26,084	26,038	25,186	25,992	23,077	22,965	21,965	23,121	21,500	23,114	21,869	21,869	21,640	22,965
Common Stock Total Equity	0	0	48,181	48,516	49,072	51,784	55,979	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,377	141,307	140,954	0	0	0	0	0	0	0	0	120,597	120,597	120,453	0	120,441	120,379	0	0	0	0	0	0	0	119,453	119,446	115,856	62,385	62,385	0	0	0	62,385	0	-	0
Current Deferred Revenue	26,906	21,844	22,928	20,979	24,154	22,744	21,682	21,192	25,405	24,691	22,183	20,240	23,453	19,354	17,573	18,284	23,411	22,901	19,716	18,328	22,545	21,525	19,419	20,890	24,647	26,200	20,528	23,167	17,523	19,859	15,159	16,100	21,390	26,803	22,351	26,779	26,469	34,858	27,597	31,008	30,195	35,792	29,914	32,578	34,648	14,750	14,482	12,869	43,242	14,041	21,740	28,116	50,944	53,106	23,921	50,041	48,087	47,436	40,740	43,331	38,806	35,638	28,976	31,136	34,810	34,605	25,316	29,404	33,150	32,680	27,309	31,196	34,930	30,439	24,091	28,434	31,185	0	0	0	26,249	0	-	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	424	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	153	153	153	153	93	93	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	158	0	0	0	4,528	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Good Will	10,742	10,742	10,742	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	14,536	21,991	22,207	22,207	22,207	23,511	62,465	62,465	62,465	62,465	62,465	65,527	65,527	83,856	83,856	97,371	97,371	97,371	106,709	106,709	106,709	112,953	112,953	112,953	112,953	111,973	111,926	113,089	91,460	82,714	82,714	82,714	82,714	82,860	82,860	84,995	84,995	84,578	82,578	59,476	59,467	51,253	51,347	50,709	32,802	0	0	0	19,951	0	-	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,536	14,536	12	16	21	25	29	32	37	41	44	50	1,141	1,157	1,173	1,191	1,213	1,780	1,831	1,881	2,063	2,119	2,175	2,231	86,147	86,218	99,544	99,624	99,839	110,913	111,134	111,363	117,873	118,327	119,079	119,831	119,493	120,329	121,168	96,466	85,192	84,864	84,892	84,922	82,860	85,224	87,366	87,193	87,809	86,783	62,314	59,467	51,253	51,347	50,709	32,802	0	0	0	19,951	0	-	0
Inventory	2,948	2,935	2,555	2,636	2,618	2,714	3,082	2,640	2,721	3,155	3,327	2,666	2,394	2,866	3,107	1,835	1,608	1,899	2,086	1,692	1,451	2,311	1,802	1,910	1,657	1,787	1,884	1,668	1,058	1,146	1,278	1,096	1,043	1,611	1,597	1,593	1,486	2,222	2,193	2,120	2,269	2,380	2,950	2,696	2,677	3,099	3,174	2,964	3,051	3,383	3,221	3,532	3,555	3,960	3,821	3,227	3,329	3,347	3,661	3,354	3,374	3,710	2,796	2,582	2,540	2,694	2,052	2,423	2,438	2,571	2,181	1,997	1,764	1,987	1,644	1,574	1,664	0	0	0	1,087	0	-	0
Liabilities And Stockholders Equity	345,249	315,778	311,418	281,093	291,566	291,276	285,416	287,688	295,299	253,456	244,646	239,853	245,190	205,816	194,901	169,251	194,763	161,737	154,898	155,989	146,038	122,581	115,795	116,871	155,213	117,559	130,231	136,909	163,207	190,394	178,998	190,300	210,279	221,908	175,593	176,896	213,707	195,447	240,159	242,058	305,949	290,286	287,140	298,658	346,774	333,928	333,601	356,352	362,251	366,462	380,443	382,601	412,822	370,692	389,260	377,362	388,368	367,874	338,563	332,618	268,042	248,348	249,248	244,252	246,183	237,349	235,806	232,941	226,216	237,931	226,157	207,684	214,792	192,494	176,679	156,098	162,729	0	0	0	139,355	0	-	0
Long Term Debt	0	0	0	0	0	0	0	0	0	13,848	14,303	14,757	15,212	15,667	16,121	16,576	32,028	19,785	21,435	20,958	33,769	24,374	24,292	22,300	52,593	16,721	24,023	24,156	30,244	31,734	31,510	31,287	48,110	73,153	34,460	34,586	34,710	34,831	34,950	40,066	89,681	35,293	35,402	35,510	73,115	35,725	35,828	35,924	36,027	36,127	36,271	36,391	56,508	36,638	36,747	36,846	56,945	36,987	37,101	37,388	10,044	10,075	31,105	17,136	15,174	15,222	31,222	22,746	9,769	26,682	26,751	10,434	10,485	10,534	10,605	41,695	41,518	0	0	0	39,436	0	-	0
Long Term Debt Total	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	16,576	32,028	19,785	21,435	20,958	33,769	24,374	24,292	22,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	34,950	40,066	89,681	35,293	35,402	35,510	73,115	35,725	35,828	35,924	36,027	36,127	36,271	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Long Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8,928	0	0	0	5,633	0	0	0	4,993	0	0	0	6,235	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Debt	36,517	61,091	31,705	60,343	54,558	32,693	32,032	36,176	14,582	28,147	43,935	49,714	40,392	54,709	54,149	61,887	65,544	60,176	63,830	64,770	31,198	14,191	21,211	17,437	38,030	9,444	24,813	20,449	20,893	24,172	33,915	26,154	19,804	47,059	36,100	29,886	22,882	30,091	43,643	33,423	22,730	29,469	31,554	18,636	11,819	15,705	16,253	8,768	9,984	10,504	6,456	-6,818	-9,050	22,610	8,943	3,434	11,252	-678	29,965	32,835	-5,060	4,077	22,382	11,705	11,876	11,891	25,619	18,180	3,399	14,577	22,318	-30,738	-39,489	-33,850	-19,200	31,957	5,384	0	0	0	-5,905	0	-	0
Net Invested Capital	166,804	157,165	154,465	135,254	144,877	126,162	126,501	128,603	129,418	117,811	114,044	111,617	108,279	62,962	60,183	59,485	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Receivables	35,692	40,261	32,050	34,856	37,175	31,902	31,592	34,866	26,159	29,985	31,718	30,604	30,021	33,553	27,906	26,504	20,652	22,094	22,083	22,577	18,675	21,659	20,685	19,643	15,791	18,503	17,886	17,386	10,294	13,741	11,671	10,709	9,613	17,016	17,574	15,725	13,533	18,193	18,569	17,701	16,127	25,960	20,756	15,733	17,370	19,574	18,600	17,229	19,696	20,405	20,413	23,412	33,697	38,695	33,738	29,309	36,614	33,760	28,188	25,268	23,685	25,605	22,023	19,616	29,373	20,353	19,844	19,519	20,473	22,574	16,318	13,072	14,402	15,287	13,617	14,213	12,820	0	0	0	10,803	0	-	0
Net Tangible Assets	0	0	154,465	135,254	144,877	138,144	126,501	140,585	129,418	101,963	97,741	106,842	103,049	57,277	27,526	52,891	55,130	33,580	31,868	34,587	39,866	34,850	35,268	39,219	31,277	37,136	37,892	44,149	40,390	72,965	72,803	75,423	66,411	72,578	69,659	76,669	60,803	83,296	120,964	133,474	145,196	176,415	180,205	190,152	198,477	211,111	213,584	234,478	239,025	236,411	239,585	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Working Capital	61,253	64,576	68,828	53,013	59,115	51,166	53,274	57,981	55,745	42,078	10,026	10,232	7,322	-4,434	-7,565	-8,588	-6,728	-23,762	-22,581	-22,015	-7,470	-10,956	-11,076	-8,646	-3,306	-13,205	-4,107	2,243	-2,033	14,544	13,952	14,958	33,818	42,501	21,292	26,086	29,585	-25,035	-23,828	-9,452	47,041	-1,704	-2,150	98	40,939	2,941	5,570	2,913	1,540	-7,564	-13,400	-15,286	-4,176	-28,922	1,386	-9,692	4,494	-5,147	-20,499	-28,497	-19,840	-22,892	-9,270	-17,758	-17,952	-21,463	-4,453	-11,327	-20,943	-12,268	-13,583	12,422	9,285	14,708	7,635	-14,782	4,570	0	0	0	13,402	0	-	0
Non Current Assets Total	210,586	185,102	173,928	173,506	177,431	180,227	173,952	174,660	173,672	142,503	172,146	169,071	171,026	138,972	133,895	126,759	144,286	117,375	114,720	118,253	88,927	78,189	79,140	79,016	111,035	77,400	77,404	77,573	96,910	99,233	99,571	101,119	105,015	115,279	94,716	97,489	100,643	151,981	194,230	197,549	202,327	228,692	233,364	241,636	247,261	260,437	260,335	283,887	289,593	292,731	301,701	297,637	295,330	298,942	295,883	292,903	282,407	274,818	275,362	274,140	216,781	205,233	206,290	205,208	202,422	195,524	191,053	190,442	188,048	188,499	188,628	142,294	141,634	122,778	120,364	119,952	98,505	0	0	0	70,694	0	-	0
Non Current Liabilities Other	56	0	0	0	91,001	0	0	0	86,410	2,803	2,868	2,924	55,835	2,435	1,014	939	46,232	64	89	111	141	164	281	418	548	685	825	639	743	0	0	0	0	0	0	0	357	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Non Current Liabilities Total	105,035	92,513	88,291	91,265	91,669	93,249	88,743	92,056	99,999	70,636	72,449	72,461	87,281	77,261	84,268	65,280	94,410	60,033	60,271	61,651	41,591	32,383	32,796	31,151	61,916	27,059	35,405	35,667	22,486	40,812	40,720	40,654	57,836	85,202	46,349	46,906	47,218	43,650	49,438	54,623	104,172	50,573	51,009	51,582	89,723	52,267	52,321	52,322	52,108	48,756	48,716	48,513	68,669	48,806	48,721	48,368	68,265	49,382	49,429	49,366	21,992	16,957	37,960	23,877	22,003	22,096	37,191	28,576	15,322	31,996	33,789	15,331	14,929	14,201	14,797	45,669	44,989	0	0	0	41,172	0	-	0
Non Currrent Assets Other	2,546	192,242	1,161	837	812	819	835	17,656	794	796	851	802	734	968	1,003	999	31,340	1,247	1,091	3,222	12,500	966	908	939	33,725	8,760	7,711	7,952	26,897	26,704	25,915	26,063	23,921	25,520	7,433	7,303	7,505	10,084	1,844	1,706	10,649	2,314	1,870	1,825	1,459	4,663	4,717	4,384	4,759	4,202	5,885	6,807	6,872	7,678	7,849	8,691	8,298	23,639	9,768	9,411	9,674	9,109	8,452	8,178	7,644	6,551	6,308	6,113	5,997	10,508	11,757	10,116	10,445	9,746	9,841	10,530	8,388	0	0	0	7,716	0	-	0
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Other Assets	0	-130,676	41,712	173,506	53,303	41,430	218	222	212	253	172,146	52,345	108,102	17,658	16,790	15,768	31,340	15,880	14,753	3,646	25,099	12,762	11,136	10,451	57,629	23,317	22,272	22,517	41,465	41,277	40,492	40,643	38,507	48,652	30,797	30,683	30,903	34,808	72,948	73,423	74,995	91,321	92,251	94,699	93,165	101,945	97,882	108,587	109,579	112,371	120,821	122,021	122,899	132,354	132,356	133,103	133,097	135,612	134,325	132,047	108,214	97,716	97,861	96,960	95,858	94,463	92,962	94,399	93,680	95,231	94,335	72,904	72,702	63,200	63,397	63,437	43,356	0	0	0	28,659	0	-	0
Other Current Assets	15,754	126,400	7,973	103,378	109,922	6,814	9,805	9,923	9,440	30,663	4,448	10,770	3,723	3,905	58,380	4,412	4,573	8,612	9,520	7,784	19,414	10,239	11,087	11,439	12,707	12,592	25,847	31,575	39,646	64,598	52,599	57,210	82,643	55,580	56,856	56,909	85,746	10,349	18,408	17,602	72,340	27,004	25,804	21,304	17,758	53,062	53,272	44,859	23,387	23,810	48,451	14,356	14,245	57,320	27,628	50,667	19,942	55,000	50,563	14,636	8,968	7,655	9,248	11,226	8,346	73	17,160	15,899	8,796	11,847	13,563	2,000	6,735	7,747	893	893	893	0	0	0	7,806	0	-	0
Other Current Liab	16,545	15,757	18,482	10,594	10,739	10,584	10,922	9,544	16,701	15,834	14,895	11,222	17,209	24,021	26,718	8,725	8,068	10,118	10,213	13,736	12,929	557	505	512	558	2,122	14,171	18,352	25,346	27,943	25,069	29,766	27,079	15,813	15,831	14,524	14,645	15,863	15,611	12,687	11,348	15,920	15,870	11,939	10,014	41,364	39,991	42,164	11,927	47,070	50,288	50,432	44,670	28,034	47,775	22,632	33,348	33,088	21,738	17,485	19,816	16,567	11,441	11,950	12,978	13,934	9,963	11,420	13,752	12,562	12,073	10,151	15,985	12,266	12,094	10,189	12,494	0	0	0	16,364	0	-	0
Other Liab	0	0	638	91,265	668	1,250	88,743	1,509	88,017	54,788	56,146	6,709	58,087	5,355	4,017	4,124	4,282	4,306	4,371	4,341	7,822	8,009	8,504	8,851	9,323	10,338	11,382	11,511	10,007	9,078	9,210	9,367	9,726	12,049	11,889	12,320	12,508	8,819	9,198	9,648	9,963	15,280	15,607	16,072	16,608	16,542	16,493	16,398	16,081	12,629	12,445	12,122	12,161	12,168	11,974	11,522	11,320	12,395	12,328	11,978	11,948	6,882	6,855	6,741	6,829	6,874	5,969	5,830	5,553	5,314	5,115	4,897	4,444	3,667	4,192	3,974	75	0	0	0	1,736	0	-	0
Other Stockholder Equity	49,380	47,536	46,874	44,573	45,540	32,814	32,177	-51,174	-62,403	-51,217	-51,973	-52,817	-64,330	-52,747	-64,253	-52,596	-64,697	-52,933	-53,151	-53,342	-53,376	-53,396	-53,416	-53,408	-53,526	-53,787	-54,081	-54,374	-54,306	-54,589	-55,000	-55,296	-55,568	-55,729	-55,835	-56,199	-56,510	-56,309	-57,091	-57,751	-58,683	-58,526	-58,548	-59,515	-60,183	80,167	79,558	78,149	78,052	78,067	77,307	76,405	75,244	75,120	121,335	120,826	119,079	143,947	142,748	141,018	8,535	8,463	128,524	13,661	12,378	129,533	129,102	128,291	127,877	127,570	126,883	125,787	5,665	6,017	51,454	51,266	3,359	0	0	0	1,426	0	-	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Property Plant And Equipment Gross	296,739	270,965	32,508	26,147	263,404	23,842	22,039	23,447	0	23,251	105,527	102,190	103,575	106,778	102,569	96,455	98,410	86,959	85,431	87,099	49,292	50,891	53,468	54,017	52,866	54,083	55,132	55,056	55,445	57,956	59,079	60,476	66,508	66,627	63,919	66,806	69,740	117,173	121,282	124,126	127,332	137,371	141,113	146,937	154,096	158,492	162,453	175,300	180,014	180,360	180,880	175,616	172,431	166,588	163,527	159,800	149,310	139,206	141,037	142,093	108,567	107,517	108,429	108,248	106,564	101,061	98,091	96,043	94,368	93,268	94,293	69,390	68,932	59,578	56,967	56,515	55,149	0	0	0	42,035	0	-	0
Property Plant And Equipment Net	156,577	131,268	121,474	118,281	117,037	119,364	114,669	118,824	114,606	76,284	105,527	102,190	103,575	106,778	102,569	96,455	98,410	86,959	85,431	87,099	49,292	50,891	53,468	54,017	52,866	54,083	55,132	55,056	55,445	57,956	59,079	60,476	66,508	66,627	63,919	66,806	69,740	117,173	121,282	124,126	127,332	137,371	141,113	146,937	154,096	158,492	162,453	175,300	180,014	180,360	180,880	175,616	172,431	166,588	163,527	159,800	149,310	139,206	141,037	142,093	108,567	107,517	108,429	108,248	106,564	101,061	98,091	96,043	94,368	93,268	94,293	69,390	68,932	59,578	56,967	56,515	55,149	0	0	0	42,035	0	-	0
Property Plant Equipment	0	0	32,508	26,147	23,940	23,842	114,669	23,447	23,119	23,251	105,527	49,035	48,388	49,199	102,569	49,367	49,345	48,209	47,480	47,776	49,292	50,891	53,468	54,017	52,866	54,083	55,132	55,056	55,445	57,956	59,079	60,476	66,508	66,627	63,919	66,806	69,740	117,173	121,282	124,126	127,332	137,371	141,113	146,937	154,096	158,492	162,453	175,300	180,014	180,360	180,880	175,616	172,431	166,588	163,527	159,800	149,310	139,206	141,037	142,093	108,567	107,517	108,429	108,248	106,564	101,061	98,091	96,043	94,368	93,268	94,293	69,390	68,932	59,578	56,967	56,515	55,149	0	0	0	42,035	0	-	0
Retained Earnings	69,279	62,487	60,423	43,173	51,225	42,865	39,625	39,670	39,702	16,045	12,510	10,388	6,203	-39,513	-43,025	-43,808	-42,058	-51,264	-52,604	-49,540	-44,073	-49,106	-48,506	-44,402	-37,528	-45,234	-43,744	-36,973	-26,044	-7,417	-6,946	-3,808	2,260	-6,297	-8,878	-1,273	5,610	1,452	40,015	53,298	66,064	99,890	103,852	114,916	124,059	137,660	140,742	163,045	167,689	163,092	167,026	162,181	151,989	150,995	132,114	118,918	104,458	82,125	68,469	61,042	55,219	42,455	36,749	35,508	35,024	25,404	23,366	25,066	26,784	17,192	14,960	13,994	11,232	-1,178	-6,663	-6,705	-7,477	0	0	0	-20,455	0	-	0
Retained Earnings Total Equity	0	0	60,423	43,173	51,225	42,865	39,625	39,670	39,702	16,045	12,510	10,388	6,203	-39,513	-43,025	-43,808	-42,058	-51,264	-52,604	-49,540	-44,073	-49,106	-48,506	-44,402	-37,528	-45,234	-43,744	-36,973	-26,044	-7,417	-6,946	-3,808	2,260	-6,297	-8,878	-1,273	5,610	1,452	40,015	53,298	66,064	99,890	103,852	114,916	124,059	137,660	140,742	163,045	167,689	163,092	167,026	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt	0	0	0	0	0	0	0	0	0	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	7,117	4,579	3,635	15,000	0	24,292	22,300	52,593	16,721	32,023	5,000	11,713	0	0	0	10,000	0	0	0	30,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt Total	116,786	102,808	98,061	100,623	100,632	102,312	99,017	101,775	97,889	75,297	76,942	76,456	78,418	81,229	77,491	71,628	89,188	71,933	70,319	70,453	48,769	24,374	24,292	22,300	52,593	16,721	32,023	29,156	41,957	43,412	44,865	46,320	58,224	79,481	40,950	35,066	65,181	42,793	50,402	40,509	90,116	35,719	35,820	35,925	73,527	36,134	36,247	36,374	36,508	36,637	36,747	36,846	56,945	37,040	37,133	37,226	57,328	37,378	42,603	48,055	10,174	10,222	31,273	17,325	15,378	15,428	31,316	22,838	9,860	27,017	27,785	10,689	10,768	10,845	10,922	42,006	46,829	0	0	0	43,060	0	-	0
Short Term Debt	11,807	10,917	10,408	10,057	9,631	10,313	11,643	11,228	11,479	12,314	12,011	11,370	10,504	10,323	10,222	11,372	11,142	16,206	14,419	13,143	15,000	13,783	12,220	11,713	11,771	14,619	8,000	5,000	11,713	11,678	13,355	15,033	10,114	6,328	6,490	480	30,471	7,962	15,452	443	435	426	418	415	412	409	419	450	481	510	476	455	437	402	386	380	383	391	5,502	10,667	130	147	168	189	204	206	94	92	91	335	1,034	255	283	311	317	311	5,311	0	0	0	3,624	0	-	0
Short Term Investments	0	24,344	24,344	14,758	14,758	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,820	8,490	8,490	7,189	7,189	6,189	11,189	6,399	6,282	6,555	7,371	7,362	7,358	0	0	30,000	0	0	0	54,500	0	0	0	0	0	0	0	0	1	1	371	694	1,058	369	374	858	368	368	389	383	0	0	0	0	1,532	1,458	1,480	920	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Assets	345,249	315,778	311,418	281,093	291,566	291,276	285,416	287,688	295,299	253,456	244,646	239,853	245,190	205,816	194,901	169,251	194,763	161,737	154,898	155,989	146,038	122,581	115,795	116,871	155,213	117,559	130,231	136,909	163,207	190,394	178,998	190,300	210,279	221,908	175,593	176,896	213,707	195,447	240,159	242,058	305,949	290,286	287,140	298,658	346,774	333,928	333,601	356,352	362,251	366,462	380,443	382,601	412,822	370,692	389,260	377,362	388,368	367,874	338,563	332,618	268,042	248,348	249,248	244,252	246,183	237,349	235,806	232,941	226,216	237,931	226,157	207,684	214,792	192,494	176,679	156,098	162,729	0	0	0	139,355	0	-	0
Total Current Assets	134,663	130,676	137,490	107,587	114,135	111,049	111,464	113,028	121,627	110,953	72,500	70,782	74,164	66,844	61,006	42,492	50,477	44,362	40,178	37,736	57,111	44,392	36,655	37,855	44,178	40,159	52,827	59,336	66,297	91,161	79,427	89,181	105,264	106,629	80,877	79,407	113,064	43,466	45,929	44,509	103,622	61,594	53,776	57,022	99,513	73,491	73,266	72,465	72,658	73,731	78,742	84,964	117,492	71,750	93,377	84,459	105,961	93,056	63,201	58,478	51,261	43,115	42,958	39,044	43,761	41,825	44,753	42,499	38,168	49,432	37,529	65,390	73,158	69,716	56,315	36,146	64,224	0	0	0	68,661	0	-	0
Total Current Liabilities	73,410	66,100	68,662	54,574	55,020	59,883	58,190	55,047	65,882	68,875	62,474	60,550	66,842	71,278	68,571	51,080	57,205	68,124	62,759	59,751	64,581	55,348	47,731	46,501	47,484	53,364	56,934	57,093	68,330	76,617	65,475	74,223	71,446	64,128	59,585	53,321	83,479	68,501	69,757	53,961	56,581	63,298	55,926	56,924	58,574	70,550	67,696	69,552	71,118	81,295	92,142	100,250	121,668	100,672	91,991	94,151	101,467	98,203	83,700	86,975	71,101	66,007	52,228	56,802	61,713	63,288	49,206	53,826	59,111	61,700	51,112	52,968	63,873	55,008	48,680	50,928	59,654	0	0	0	55,259	0	-	0
Total Liab	178,445	158,613	156,953	145,839	146,689	153,132	146,933	147,103	165,881	139,511	134,923	133,011	154,123	148,539	152,839	116,360	151,615	128,157	123,030	121,402	106,172	87,731	80,527	77,652	109,400	80,423	92,339	92,760	90,816	117,429	106,195	114,877	129,282	149,330	105,934	100,227	130,697	112,151	119,195	108,584	160,753	113,871	106,935	108,506	148,297	122,817	120,017	121,874	123,226	130,051	140,858	148,763	190,337	149,478	140,712	142,519	169,732	147,585	133,129	136,341	93,093	82,964	90,188	80,679	83,716	85,384	86,397	82,402	74,433	93,696	84,901	68,299	78,802	69,209	63,477	96,597	104,643	0	0	0	96,431	0	-	0
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Stockholder Equity	166,804	157,165	154,465	135,254	144,877	138,144	138,483	140,585	129,418	113,945	109,723	106,842	91,067	57,277	42,062	52,891	43,148	33,580	31,868	34,587	39,866	34,850	35,268	39,219	45,813	37,136	37,892	44,149	72,391	72,965	72,803	75,423	80,997	72,578	69,659	76,669	83,010	83,296	120,964	133,474	145,196	176,415	180,205	190,152	198,477	211,111	213,584	234,478	239,025	236,411	239,585	233,838	222,485	221,214	248,548	234,843	218,636	220,289	205,434	196,277	174,949	165,384	159,060	163,573	162,467	151,965	149,409	150,539	151,783	144,235	141,256	139,385	135,990	123,285	113,202	59,501	58,086	0	0	0	42,924	0	-	0
Treasury Stock	0	0	0	0	0	0	0	0	0	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,860	-82,771	-35,920	-32,771	-32,771	-6,584	-6,584	-6,584	-6,584	-6,375	-6,375	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Warrants	0	0	0	0	0	11,982	11,982	11,982	11,982	11,982	11,982	11,982	11,982	11,982	11,982	11,982	11,982	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2001-12-31
Begin Period Cash Flow	50,287	83,307	38,026	38,644	45,946	54,554	21,064	38,420	12,299	12,886	61,708	26,524	65,995	46,076	15,234	3,502	6,461	50,257	41,445	48,965	7,400	7,322
Capital Expenditures	40,699	8,986	7,531	5,580	5,385	4,697	4,755	3,596	2,218	7,472	6,538	8,839	38,119	42,352	24,018	20,166	24,766	19,341	22,621	23,813	3,598	7,322
Cash And Cash Equivalents Changes	0	-33,020	45,281	-618	-7,302	-8,608	-6,501	-17,356	26,121	-587	-48,822	35,184	-39,471	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	29,982	-33,020	45,281	-618	-7,302	-8,608	-6,501	-17,356	26,121	-587	-48,822	35,184	-39,471	19,919	30,842	11,732	-2,959	-43,796	8,812	-7,520	3,679	-11,967
Change In Working Capital	-29,436	-57,898	-32,888	-24,949	-29,873	-21,745	-22,846	-20,118	-10,318	-7,761	-19,423	-28,557	-57,452	-32,364	-37,525	-7,840	-29,008	-29,333	-8,378	-8,550	-1,971	0
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-45,757	-48,637	-26,497	-37,383	-25,986	-23,836	-15,733	-15,700	-13,216	-14,470	-15,049	-19,202	-15,317	-36,732	-51,073	-22,775	-21,465	-21,870	0	0	0	0
Change To Inventory	-330	103	-327	-786	-157	206	30	201	9	372	408	421	504	-226	188	-824	-102	-587	-65	-577	-132	0
Change To Liabilities	0	-3,284	-1,725	898	1,310	1,651	-3,324	-6,112	3,631	1,074	2,290	0	0	1,354	7,867	6,921	0	0	86	1,924	4,026	0
Change To Netincome	0	-11,752	-7,271	-25,080	-1,027	4,851	163	22,197	13,545	68,155	54,532	53,172	19,298	0	0	0	0	0	0	0	3,465	0
Change To Operating Activities	0	-7,118	-4,865	11,448	-5,259	205	-3,873	1,406	-1,272	2,621	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	6,596	6,362	7,140	7,400	8,115	8,421	8,702	11,066	14,506	19,338	23,701	26,848	28,464	26,218	24,240	17,920	15,933	15,058	13,279	11,124	7,827	5,474
Dividends Paid	199	1,111	1,219	1,378	1,378	1,378	1,378	0	0	4,321	6,709	6,444	18,490	5,550	66,160	0	0	0	0	0	0	0
End Period Cash Flow	80,269	50,287	83,307	38,026	38,644	45,946	14,563	21,064	38,420	12,299	12,886	61,708	26,524	65,995	46,076	15,234	3,502	6,461	50,257	41,445	11,079	-4,645
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	-15,141	-8,104	19,916	17,905	-4,397	-6,391	-16,076	-9,703	12,119	4,550	-3,292	7,147	-1,281	72,112	49,151	34,010	-9,031	-4,083	16,345	2,861	6,125	-11,967
Investments	-21,652	-14,758	37,848	-5,483	-4,810	-2,349	9,917	-2,182	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	12,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	0	-17,833	-17,000	-15,444	-4,193	28,145	-3,896	9,181	-435	-38,774	36,360	-20,437	0	0	0	0	0	0	0	0	0
Net Income	25,997	12,634	34,718	48,565	2,015	-6,545	-11,484	-28,304	-3,350	-56,133	-51,286	-37,186	17,540	69,731	49,239	20,195	8,340	15,552	18,709	12,978	-674	-4,645
Other Cashflows From Financing Activities	-2,054	-1,992	-962	10,758	38,334	30,534	94,471	-5,816	57,870	71,552	3,340	36,310	7	440	132,604	-4,873	4,939	-7,623	-39,573	4,020	-3,914	-7,322
Other Cashflows From Investing Activities	0	2,390	45,379	97	575	2,348	14,672	1,414	451	67	750	-1,348	730	0	0	0	0	0	0	0	9,000	0
Other Non Cash Items	14,875	35,379	3,578	26,654	19,899	-589	13,511	-6,250	-3,146	58,485	20,769	64,770	41,703	45,783	37,515	21,998	21,382	16,212	15,016	11,451	5,072	-829
Sale Purchase Of Stock	-891	-9,445	-962	-245	11,964	-372	-440	-178	-186	-448	-797	-531	-151	-50,089	-26,187	-6,584	0	0	0	0	0	0
Stock Based Compensation	5,894	3,111	2,889	1,686	679	522	1,220	1,440	1,128	2,621	2,995	4,340	3,541	2,665	2,377	2,201	1,849	1,424	0	0	0	0
Total Cash From Financing Activities	-2,945	-12,548	-20,014	-18,620	-3,480	-4,565	27,705	-9,067	13,551	-5,204	-46,280	29,385	-38,920	-52,434	9,266	-11,239	5,136	-6,894	20,243	4,117	-3,889	0
Total Cash From Operating Activities	25,558	882	27,447	23,485	988	-1,694	-11,321	-6,107	14,337	12,022	3,246	15,986	36,838	114,464	73,169	54,176	15,735	15,258	38,966	26,674	9,723	-4,645
Total Cashflows From Investing Activities	0	-21,354	37,848	-5,483	-4,810	-2,349	9,917	-2,182	-1,767	-7,405	-5,788	-10,187	-37,389	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-03-31
Begin Period Cash Flow	45,993	70,568	44,489	50,287	69,619	66,985	65,599	83,307	47,150	33,007	26,742	38,026	27,593	25,968	9,741	38,644	15,754	10,986	10,181	45,946	18,003	11,571	13,353	54,554	7,277	7,210	8,707	21,064	19,240	10,950	20,166	38,420	32,422	4,850	5,180	12,299	12,702	6,759	7,086	12,886	6,250	4,266	17,289	61,708	20,429	19,994	27,606	26,524	26,133	30,291	43,664	65,995	14,430	28,190	33,792	46,076	38,056	12,638	15,220	15,234	6,145	8,891	5,620	3,502	3,537	5,697	4,658	6,461	12,440	5,467	41,427	50,257	44,695	30,122	26,297	48,965	0	0	0	0	0	0	0
Capital Expenditures	12,014	17,784	7,652	3,249	1,933	3,471	2,528	1,054	2,279	1,736	2,297	1,219	2,026	482	1,785	1,287	2,113	2,060	573	639	480	2,406	1,335	476	990	1,667	1,266	832	1,441	600	1,054	501	612	308	539	759	2,676	2,185	1,974	637	3,007	1,660	1,280	591	2,060	2,001	2,056	2,722	7,269	6,793	12,197	11,860	8,863	9,354	9,247	14,888	15,065	3,125	3,345	2,483	4,247	3,359	5,120	7,440	8,375	4,848	6,351	5,192	5,535	5,163	5,176	3,467	11,094	4,961	290	6,276	23,813	0	0	0	13,154	0	0
Cash And Cash Equivalents Changes	0	0	26,079	-5,798	-19,332	2,634	1,386	-17,708	36,157	14,143	6,265	-11,284	10,433	1,625	16,227	-28,903	22,890	4,768	805	-35,765	27,943	6,432	-1,782	-41,201	7,286	67	-1,497	-12,357	1,824	8,290	-9,216	-18,254	5,998	27,572	-330	-7,119	-403	5,943	-327	-5,800	6,636	1,984	-13,023	-44,419	41,279	435	-7,612	1,082	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	34,276	-24,575	26,079	-5,798	-19,332	2,634	1,386	-17,708	36,157	14,143	6,265	-11,284	10,433	1,625	16,227	-28,903	22,890	4,768	805	-35,765	27,943	6,432	-1,782	-41,201	7,286	67	-1,497	-12,357	1,824	8,290	-9,216	-18,254	5,998	27,572	-330	-7,119	-403	5,943	-327	-5,800	6,636	1,984	-13,023	-44,419	41,279	435	-7,612	1,082	391	-4,158	-13,373	-22,331	51,565	-13,760	-5,602	-12,284	8,020	25,418	-2,582	-14	9,089	-2,746	3,271	2,118	-35	-2,160	1,039	-1,803	-5,979	6,973	-35,960	-8,830	5,562	14,573	3,825	-22,668	0	0	0	0	0	0	0
Change In Working Capital	-732	-23,966	5,605	-10,343	-22,920	-3,778	-6,018	-25,182	-10,632	-207	-1,425	-20,624	-4,396	-11,331	9,533	-18,755	-10,909	-3,833	-2,852	-12,279	-7,613	-748	-3,948	-9,436	-7,604	832	-7,564	-8,510	-5,701	4,251	-10,590	-8,078	-1,984	4,089	-5,763	-6,660	-3,873	8,278	-5,341	-6,825	7,921	-3,840	-14,940	-8,564	-3,142	-4,411	-17,040	-3,964	-15,603	-14,344	-16,610	-10,895	-1,489	4,173	-26,070	-8,978	-11,731	4,746	-14,372	-16,168	249	4,137	-10,631	-1,595	-12,280	9,307	-10,889	-15,146	-2,091	4,877	-17,146	-14,973	4,297	1,710	-8,419	-5,966	0	0	0	0	0	0	0
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-6,517	-22,317	-8,260	-8,663	-16,170	-10,629	-8,459	-13,379	-4,375	-8,244	-8,507	-5,371	-1,437	-15,624	-8,487	-11,835	-4,952	-7,216	-4,493	-9,325	-2,536	-7,980	-5,497	-7,823	-1,716	-4,741	-4,640	-4,636	1,730	-8,860	-3,836	-4,734	1,000	-3,073	-5,282	-5,861	1,038	-5,776	-5,441	-4,291	4,467	-8,848	-8,336	-2,332	-3,439	-8,147	-6,661	-955	-6,024	-9,700	-3,926	4,333	-3,464	-18,020	-14,442	-806	-14,463	-17,497	-12,300	-6,813	-22,775	0	0	-1,219	-21,465	0	0	-2,793	-21,870	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	-13	-380	81	-18	96	368	-442	81	434	172	-661	-272	472	241	-1,272	-227	291	187	-394	-241	860	-509	108	-253	130	97	-216	19	177	152	-99	-29	144	-52	85	-168	325	-29	-73	149	111	570	-254	-19	422	75	-163	87	332	-162	311	23	405	-139	-594	102	18	314	-299	155	346	-914	-214	-42	154	-642	371	15	133	-390	-97	-233	258	-343	-2	22	0	0	0	0	124	0	0
Change To Liabilities	0	0	5,208	0	-4,423	3,561	1,605	-4,027	-2,777	5,747	-2,264	-2,431	3,299	4,052	869	-7,322	-3,336	3,111	5,170	-3,635	-4,234	6,136	526	-777	-3,324	2,417	544	-2,543	1,937	5,454	0	2,946	554	4,600	4,101	0	1,074	0	131	0	2,290	2,877	2,045	379	0	1,451	375	534	0	0	0	0	1,354	0	0	0	7,867	9,994	0	0	6,921	8,029	971	2,327	0	3,240	1,026	1,306	0	4,015	0	0	86	654	381	0	1,924	0	0	0	4,026	0	0
Change To Netincome	0	0	-6,633	-105	-8,288	7,060	8,604	-14,639	-14,267	12,844	6,527	-12,788	-32,757	242	17,632	-10,197	-3,326	4,550	3,204	-5,455	-911	7,118	1,812	-3,168	-2,420	4,394	-1,266	-545	22,033	9,096	-5,831	-3,101	3,288	11,557	2,264	578	6,063	54,300	5,078	2,714	44,728	7,211	-675	3,268	19,824	5,620	18,996	8,732	0	0	0	528	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,465	0	0
Change To Operating Activities	0	0	4,028	4,028	-3,964	1,632	2,275	-7,061	-5,169	2,147	10,652	-12,495	-7,332	-166	18,388	558	-3,311	54	-2,874	872	-1,732	1,573	1,014	-650	-3,874	3,002	-3,213	-1,350	1,406	0	0	0	-1,272	0	0	0	2,621	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2,114	1,724	1,677	1,255	1,744	1,561	1,529	1,528	1,520	1,927	1,792	1,901	1,854	1,783	1,873	1,890	2,144	1,983	1,939	2,050	2,132	2,101	2,088	2,100	2,264	2,163	2,122	2,153	2,476	2,496	2,667	3,427	3,779	3,483	3,577	3,667	4,582	4,725	4,967	5,064	6,131	5,933	5,665	5,972	6,399	6,465	6,921	7,063	7,195	7,581	6,780	6,908	6,551	6,447	6,767	6,453	6,664	6,202	6,125	5,249	4,397	4,490	4,615	4,418	4,056	4,014	3,971	3,892	3,838	3,987	3,720	3,513	3,529	3,521	3,535	2,694	0	0	0	0	0	0	0
Dividends Paid	0	0	0	0	199	304	304	304	307	304	304	304	304	1,074	1,074	1,074	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	480	480	483	1,686	1,672	1,681	1,686	1,686	1,656	1,662	1,597	1,596	1,589	1,583	5,655	5,647	5,605	5,550	0	0	0	33,373	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
End Period Cash Flow	80,269	45,993	70,568	44,489	50,287	69,619	66,985	65,599	83,307	47,150	33,007	26,742	38,026	27,593	25,968	9,741	38,644	15,754	10,986	10,181	45,946	18,003	11,571	13,353	14,563	7,277	7,210	8,707	21,064	19,240	10,950	20,166	38,420	32,422	4,850	5,180	12,299	12,702	6,759	7,086	12,886	6,250	4,266	17,289	61,708	20,429	19,994	27,606	26,524	26,133	30,291	43,664	65,995	14,430	28,190	33,792	46,076	38,056	12,638	15,220	15,234	6,145	8,891	5,620	3,502	3,537	5,697	4,658	6,461	12,440	5,467	41,427	50,257	44,695	30,122	26,297	48,965	0	0	0	0	0	0
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	9,932	-24,575	2,965	-3,463	-1,663	7,133	1,847	-15,421	7,418	14,947	7,069	-9,518	11,237	3,272	16,630	-13,234	3,768	3,829	-433	-11,561	3,642	4,112	-3,627	-10,518	4,296	1,237	-9,303	-12,306	1,965	8,025	-10,023	-9,670	11,233	13,830	-5,880	-7,064	8,025	14,035	-8,493	-9,017	9,576	3,275	-11,333	-4,810	5,825	2,134	-3,767	2,955	2,396	1,231	-8,087	3,179	37,524	33,788	-5,467	6,267	15,239	29,908	4,194	-190	19,926	18,287	-4,310	107	-1,590	14,397	-7,554	-14,284	8,057	9,966	-13,277	-8,829	14,643	9,963	-2,942	-5,319	2,861	0	0	0	14,012	0	0
Investments	12,330	-17,784	-9,586	-3,249	-14,758	-3,471	-147	-1,045	43,100	-1,736	-2,297	-1,219	-2,026	-482	-1,688	-1,287	-1,749	-1,849	-573	-639	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	0	0	0	0	0	0	0	-16,333	-500	-500	-500	-499	-501	-500	-15,500	6,776	728	1,238	-24,186	24,301	-13	1,899	-30,380	35,793	-15,500	2,710	5,142	-1	0	0	-3,895	-5,148	35,987	5,633	-114	-7,612	-7,609	9,893	4,893	-854	-101	-217	-37,602	37,393	-113	-786	-134	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	6,792	2,064	17,250	-109	8,558	3,544	260	272	23,964	3,839	2,426	4,489	46,020	3,512	783	-1,750	9,206	1,339	-3,064	-5,467	5,033	-600	-4,104	-6,874	7,706	-1,490	-6,771	-10,929	-18,627	-471	-3,138	-6,068	8,557	2,581	-7,605	-6,883	4,638	-38,080	-11,597	-11,094	-32,145	-2,276	-9,378	-7,487	-11,939	-1,485	-20,707	-3,055	6,180	-3,926	4,930	10,356	23,194	18,881	13,195	14,460	22,333	13,656	7,427	5,823	12,764	5,706	1,241	484	9,620	2,038	-1,700	-1,618	9,592	2,232	966	2,762	12,410	5,485	-804	1,618	6,107	4,393	860	1,618	5,759	3,499	43
Other Cashflows From Financing Activities	-891	-17,784	-275	-1,779	-16,691	-4,195	-2,538	-1,992	43,100	-1,736	-2,297	-962	-1	-1,146	-1,688	10,831	46,105	1,295	1,238	2,396	26,600	-13	1,838	2,109	37,782	12,663	12,710	43,979	-42	1	-13	-5,762	-120	19,844	5,667	32,479	-336	2,500	9,953	59,435	-1,159	5,000	-79,385	-368	37,181	-1,990	-686	-185	-424	368	88	-155	16,258	24	-58	1,067	66,615	735	5,203	40,036	267	-21,040	7,576	1,949	-45	-16,517	8,495	13,006	-16,658	-768	9,882	-79	-2,937	-77	-33,543	-3,016	251	0	0	0	0	0	0
Other Cashflows From Investing Activities	0	0	33,310	0	0	0	2,381	9	45,379	0	0	0	0	0	97	97	364	211	211	211	211	2,333	7	8	10	14,330	96	236	-98	264	820	428	4	367	0	80	963	0	6	61	3	496	234	17	42	11	-1,436	35	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	9,000	0	0
Other Non Cash Items	10,296	-11,240	-16,499	8,171	10,914	8,640	8,113	7,712	-14,325	8,754	4,952	4,197	5,256	46	45	45	5,493	160	99	95	-167	-120	-113	-189	-251	-538	-144	204	-1,564	-1,519	-1,493	-1,674	-2,997	9	-175	17	-38	45,805	4,364	3,097	3,502	3,654	8,369	5,244	24,393	6,595	29,698	4,084	6,931	20,026	7,686	7,060	14,304	12,179	10,382	8,919	11,401	9,787	8,977	7,350	3,956	6,945	6,310	4,175	3,885	5,329	7,919	3,879	1,501	6,172	5,351	3,813	4,819	4,355	3,284	2,558	0	0	0	0	0	0	0
Sale Purchase Of Stock	891	0	-335	-556	-2,712	-4,195	-2,538	-1,992	0	0	0	-962	-1	-72	0	-172	11,982	0	0	-18	0	0	-61	-311	-11	0	0	-429	-71	0	-6	-101	-82	0	-83	-21	-336	0	-47	-65	-408	0	-21	-368	-319	0	-27	-185	-581	0	0	-89	-89	-46,851	0	-26,187	-26,187	0	0	-209	-209	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	1,844	662	2,576	812	744	637	491	1,239	796	756	844	493	400	670	325	291	218	218	190	52	20	20	53	429	272	294	293	361	354	411	302	373	243	106	447	332	135	782	707	997	540	94	1,081	1,280	1,731	612	1,091	906	799	612	814	1,316	806	612	567	680	849	464	527	537	2,201	51	3	558	1,849	-26	-15	411	1,424	-625	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Cash From Financing Activities	0	0	-610	-2,335	-2,911	-4,499	-2,842	-2,296	-16,640	-804	-804	-1,766	-804	-1,647	-500	-15,669	18,758	728	1,238	-24,204	24,301	-13	1,838	-30,691	35,782	-15,500	7,710	-287	-43	1	-13	-9,012	-5,239	13,375	5,550	-135	-8,428	-8,092	8,160	3,156	-2,943	-1,787	-81,176	-39,626	35,412	-1,710	-2,409	-1,908	-2,006	-5,397	-5,658	-25,859	13,672	-46,920	-151	-19,035	-6,729	-4,490	-4,249	24,734	202	-21,033	7,581	2,011	7	-16,483	8,571	13,041	-16,448	-521	10,076	-1	-60	3,488	19,823	-3,008	4,117	0	0	0	19,400	0	0
Total Cash From Operating Activities	21,946	-6,791	10,617	-214	270	10,604	4,375	-14,367	9,697	16,683	9,366	-8,299	13,263	3,754	18,415	-11,947	5,881	5,889	140	-10,922	4,122	6,518	-2,292	-10,042	5,286	2,904	-8,037	-11,474	3,406	8,625	-8,969	-9,169	11,845	14,138	-5,341	-6,305	10,701	16,220	-6,519	-8,380	12,583	4,935	-10,053	-4,219	7,885	4,135	-1,711	5,677	9,665	8,024	4,110	15,039	46,387	43,142	3,780	21,155	30,304	33,033	7,539	2,293	24,173	21,646	810	7,547	6,785	19,245	-1,203	-9,092	13,592	15,129	-8,101	-5,362	25,737	14,924	-2,652	957	26,674	0	0	0	27,166	0	0
Total Cashflows From Investing Activities	0	0	16,072	-3,249	-16,691	-3,471	-147	-1,045	43,100	-1,736	-2,297	-1,219	-2,026	-482	-1,688	-1,287	-1,749	-1,849	-573	-639	-480	-73	-1,328	-468	-980	12,663	-1,170	-596	-1,539	-336	-234	-73	-608	59	-539	-679	-2,676	-2,185	-1,968	-576	-3,004	-1,164	-1,046	-574	-2,018	-1,990	-3,492	-2,687	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Cost Of Revenue	162,275	148,746	138,931	122,196	123,495	125,373	129,413	94,922	92,165	164,352	172,685	192,205	222,959	239,738	211,295	153,530	139,500	136,631	121,524	104,843	85,201	66,580	52,952
Depreciation And Amortization	6,596	6,362	7,140	7,400	7,556	8,421	8,702	11,066	14,506	19,338	23,701	26,848	28,464	26,218	24,240	17,920	15,933	15,058	13,279	11,124	7,827	70,671	5,474
Discontinued Operations	0	0	0	0	0	0	0	-23,806	-642	-6,646	-17,526	-13,305	0	0	0	0	0	0	0	0	0	-	0
Ebit	6,660	11,106	20,342	7,300	5,238	-11,807	-14,985	-5,341	-7,576	-26,659	-29,801	-20,639	16,854	102,689	64,357	35,655	25,851	27,698	32,260	25,491	15,755	1,950	-6,233
Ebitda	13,256	17,468	27,482	14,700	12,794	-3,386	-6,283	5,725	6,930	-7,321	-6,100	6,209	45,318	128,907	88,597	53,575	41,784	42,756	45,539	36,615	23,582	72,621	-759
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	-41,311	0	0	0	0	0	0	0	0	0	0	0	-	0
Gross Profit	215,795	199,541	196,405	170,899	149,847	137,827	132,440	101,988	101,055	160,670	172,339	210,492	289,666	399,756	341,241	223,377	188,274	184,875	177,697	156,432	113,680	72,621	52,786
Income Before Tax	35,639	16,436	47,246	13,506	2,283	-6,345	-11,758	-4,298	-2,466	-53,712	-14,169	-32,116	30,585	118,183	84,107	33,536	23,759	26,559	30,636	22,220	13,574	-775	-7,587
Income Tax Expense	9,642	3,802	12,528	-35,059	268	200	-274	200	242	-4,225	19,591	-8,235	13,045	48,452	34,868	13,341	9,932	11,007	11,927	9,242	5,355	-101	-2,942
Interest Expense	347	160	2,015	1,275	2,963	2,422	7,098	6,001	7,438	5,613	4,667	4,475	4,369	4,533	4,275	2,341	2,341	2,291	0	0	0	0	0
Interest Income	2,209	318	0	1	8	31	56	155	7,963	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Income	25,997	12,634	34,718	48,565	2,015	-6,545	-11,484	-28,304	-3,350	-56,133	-51,286	-37,186	17,540	69,731	49,239	20,195	8,340	15,552	18,709	12,978	8,219	-674	-4,645
Net Income Applicable To Common Shares	0	11,523	33,499	47,187	2,015	-6,545	-11,484	-28,304	-3,350	-56,133	-51,286	-37,186	17,540	69,731	49,239	20,195	13,827	15,552	18,709	12,978	8,219	-	0
Net Income From Continuing Ops	27,763	12,634	34,718	48,565	2,015	-6,545	-11,484	-4,498	-3,350	-57,937	5,422	-23,881	17,540	0	0	0	0	0	0	0	0	-	0
Net Interest Income	2,089	158	-2,015	-1,275	-2,955	-2,391	-7,042	-5,846	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Non Operating Income Net Other	0	318	0	0	8	31	56	6,866	4,194	392	55	16	73	0	0	0	0	0	0	0	0	-	0
Non Recurring	0	1,049	700	0	0	0	0	3,902	216	21,885	0	-33,925	-10,377	0	0	0	0	0	0	0	0	-	0
Operating Income	6,660	11,106	20,342	7,300	5,238	-3,954	-4,716	-5,163	778	-48,549	-9,557	-27,657	34,886	122,641	88,318	35,575	25,893	28,001	32,510	25,123	15,988	1,950	-6,233
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Other Operating Expenses	371,410	331,137	307,854	278,395	268,671	266,617	268,192	198,051	190,484	332,793	351,179	396,504	467,357	510,617	463,968	341,332	301,881	293,505	266,711	236,152	182,893	66,580	111,971
Preferred Stock And Other Adjustments	0	1,111	1,219	1,378	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Reconciled Depreciation	6,400	6,362	7,140	7,400	8,116	8,421	8,702	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Selling And Marketing Expenses	0	35,000	33,100	31,200	29,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Selling General Administrative	199,491	147,391	135,823	124,999	115,376	141,244	138,779	103,129	98,319	168,441	178,494	204,299	244,398	270,879	252,673	187,722	162,396	157,309	145,194	130,941	97,714	-	0
Tax Provision	10,050	3,802	12,528	-35,059	268	200	-274	200	242	-1,479	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Operating Expenses	209,135	182,391	168,923	156,199	145,176	141,244	138,779	103,129	98,319	168,441	178,494	204,299	244,398	270,879	252,673	187,802	162,381	156,874	145,187	131,309	97,692	-70,671	59,019
Total Other Income Expense Net	28,979	5,330	26,904	6,206	-2,955	-537	1,623	2,689	2,184	-40,481	-3,384	-33,836	-10,364	-6,191	-215	-80	42	303	250	-368	233	-2,725	-1,354
Total Revenue	378,070	348,287	335,336	293,095	273,342	263,200	261,853	196,910	193,220	325,022	345,024	402,697	512,625	639,494	552,536	376,907	327,774	321,506	299,221	261,275	198,881	139,201	105,738

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31
Cost Of Revenue	41,024	43,129	40,030	38,093	36,513	39,933	36,106	36,196	34,788	38,105	33,694	32,344	31,463	34,251	26,245	30,238	30,555	33,211	29,749	29,980	31,203	33,488	30,179	30,503	30,229	34,070	32,405	32,709	22,549	24,398	21,667	23,144	22,692	39,026	37,348	38,196	39,472	43,253	41,544	42,689	42,336	46,830	44,786	46,193	46,609	51,569	49,769	51,809	51,905	57,419	54,619	59,016	59,446	63,304	58,118	58,869	54,226	57,651	51,120	48,299	39,421	41,554	35,927	36,629	34,960	37,053	34,752	35,752	35,066	36,818	32,609	32,137	30,366	32,514	29,559	29,084	25,798	25,026	21,705	21,565	75,322	0	0	0
Depreciation And Amortization	2,114	1,723	1,677	467	1,367	1,577	1,529	1,528	1,520	1,927	1,792	1,901	1,854	1,783	1,873	1,890	2,144	1,983	1,939	2,050	2,132	2,101	2,088	2,100	2,264	2,163	2,122	2,153	2,476	2,496	2,667	3,427	3,779	3,483	3,577	3,667	4,582	4,725	4,967	5,064	6,131	5,933	5,665	5,972	6,399	6,465	6,921	7,063	7,195	7,581	6,780	6,908	6,551	6,447	6,767	6,453	6,664	6,202	6,125	5,249	4,397	4,490	4,615	4,418	4,056	4,014	3,971	3,892	3,838	3,987	3,720	3,513	3,529	3,521	3,535	2,694	-168,604	60,903	57,087	55,942	-132,737	47,171	45,203	40,363
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-21,721	-1,733	-413	61	-642	0	0	0	-6,646	0	0	0	-17,526	0	0	0	-13,305	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	8,968	1,996	-2,651	-1,116	11,328	4,880	201	-326	10,746	5,745	3,452	6,019	9,287	3,841	-810	-1,345	9,697	-50	-2,091	-4,859	3,628	509	-5,610	-8,235	5,516	-4,417	-6,085	-7,876	3,542	295	-3,826	-4,896	5,582	1,808	-9,397	-8,920	6,030	-5,398	-14,960	-14,466	405	-8,716	-14,723	-15,329	3,062	-7,172	-11,342	-11,156	12,158	-2,248	2,560	18,457	48,208	25,934	16,235	18,872	40,302	17,965	7,311	10,692	21,238	10,442	2,689	1,286	17,012	8,053	670	-2,359	16,439	4,823	1,745	4,692	21,295	7,652	812	2,501	5,751	8,293	2,119	3,632	10,017	6,540	-1,452	883
Ebitda	11,082	3,719	-974	-649	12,695	6,457	1,730	1,202	12,266	7,672	5,244	7,920	11,141	5,624	1,063	545	11,841	1,933	-152	-2,809	5,760	2,610	-3,522	-6,135	7,780	-2,254	-3,963	-5,723	6,018	2,791	-1,159	-1,469	9,361	5,291	-5,820	-5,253	10,612	-673	-9,993	-9,402	6,536	-2,783	-9,058	-9,357	9,461	-707	-4,421	-4,093	19,353	5,333	9,340	25,365	54,759	32,381	23,002	25,325	46,966	24,167	13,436	15,941	25,635	14,932	7,304	5,704	21,068	12,067	4,641	1,533	20,277	8,810	5,465	8,205	24,824	11,173	4,347	5,195	-162,853	69,196	59,206	59,574	-122,720	53,711	43,751	41,246
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	61,498	56,489	48,616	49,191	55,265	51,880	46,036	46,358	53,028	50,954	46,770	45,652	50,329	44,541	36,225	39,803	43,360	39,383	33,820	33,283	38,910	36,590	30,941	31,386	37,172	33,238	29,460	32,570	27,799	25,405	20,227	20,299	26,164	40,020	35,045	38,524	45,977	41,405	35,608	37,278	46,139	41,679	40,431	43,890	55,842	52,575	50,596	53,062	63,656	66,063	73,605	86,342	107,577	103,907	94,677	93,597	103,233	90,717	76,990	70,300	67,902	58,927	49,129	47,418	55,334	49,513	41,524	42,390	51,059	47,687	42,754	43,376	51,398	45,838	38,677	41,785	73,299	69,196	59,206	59,574	60,173	53,711	43,751	41,246
Income Before Tax	9,425	2,853	24,034	-674	11,599	4,844	361	-369	32,903	5,453	3,155	5,734	10,811	3,562	833	-1,700	9,230	1,390	-2,920	-5,417	5,082	-550	-4,054	-6,824	7,283	-1,440	-6,721	-10,879	134	1,312	-2,675	-6,079	5,486	2,631	-7,555	-6,833	7,606	-43,747	-11,165	-10,663	5,250	-3,765	-15,551	-12,164	-11,243	-3,509	-29,139	-5,399	11,067	-6,128	8,254	17,392	40,820	31,286	21,949	24,126	39,017	23,049	12,346	9,694	20,779	9,845	2,122	790	16,544	7,485	-2,955	-2,795	16,433	3,816	1,589	4,721	21,303	7,947	71	1,315	10,434	7,553	1,429	2,804	13,574	0	0	0
Income Tax Expense	2,633	789	6,784	-565	3,041	1,300	102	-641	8,939	1,614	729	1,245	-35,209	50	50	50	24	50	144	50	50	50	50	50	-424	50	50	50	50	50	50	50	92	50	50	50	494	-5,666	431	431	27,116	-1,489	-6,173	-4,677	-2,290	-2,025	-8,431	-2,344	4,887	-2,202	3,324	7,036	17,626	12,405	8,754	9,666	16,684	9,393	4,920	3,871	8,015	4,139	881	306	6,924	3,115	-1,255	-1,177	6,841	1,584	623	1,959	8,893	2,462	29	543	-356	3,900	1,259	2,014	4,258	3,041	-370	840
Interest Expense	273	21	28	25	47	36	35	43	1,142	292	297	285	315	278	327	354	823	754	829	557	678	632	539	572	501	716	699	5,182	1,467	1,478	1,522	1,572	2,325	2,216	1,727	1,627	1,482	1,637	1,178	1,316	1,284	1,088	1,202	1,092	1,063	1,051	1,047	1,314	1,092	1,091	1,094	1,092	1,148	1,088	1,101	1,195	1,043	1,129	1,098	1,006	2,920	579	582	504	3,011	686	670	484	551	696	570	474	463	472	763	829	684	771	710	842	2,758	0	0	0
Interest Income	737	878	547	467	318	0	0	0	0	0	0	0	0	0	0	0	1	1	2	553	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	6,792	2,064	17,250	-109	6,722	3,544	259	272	23,964	3,839	2,426	4,489	46,020	3,512	783	-1,750	9,206	1,340	-3,064	-5,467	5,032	-600	-4,104	-6,874	7,707	-1,490	-6,771	-10,929	-18,627	-471	-3,138	-6,068	8,557	2,581	-7,605	-6,883	4,638	-38,081	-11,596	-11,094	-32,145	-2,276	-9,378	-7,487	-11,939	-1,484	-20,708	-3,055	6,180	-3,926	4,930	10,356	23,194	18,881	13,195	14,460	22,333	13,656	7,426	5,823	12,764	5,706	1,241	484	9,620	2,039	-1,700	-1,618	9,592	2,232	966	2,762	12,410	5,485	42	772	6,107	4,393	860	1,618	5,759	3,499	-1,082	43
Net Income Applicable To Common Shares	0	0	17,250	-109	8,360	3,240	-45	-32	23,657	3,535	2,122	4,185	45,716	2,438	372	-1,750	9,206	1,340	-3,064	-5,467	5,033	-600	-4,104	-6,874	7,706	-1,490	-6,771	-10,929	-18,627	-471	-3,138	-6,068	8,557	2,581	-7,605	-6,883	4,638	-38,081	-11,596	-11,094	-32,145	-2,276	-9,378	-7,487	-11,939	-1,484	-20,708	-3,055	6,180	-3,926	4,930	10,356	23,194	18,881	13,196	14,460	22,333	13,656	7,427	5,823	12,764	5,706	1,241	484	9,620	4,370	767	0	9,799	2,780	1,743	2,762	12,410	5,485	42	772	6,107	4,393	860	1,618	5,759	3,499	-43	43
Net Income From Continuing Ops	6,792	2,064	17,250	-109	8,558	3,544	259	272	23,964	3,839	2,426	4,489	46,020	3,512	783	-1,750	9,206	1,340	-3,064	-5,467	5,033	-600	-4,104	-6,874	7,706	-1,490	-6,771	-10,929	3,094	1,262	-2,725	-6,129	9,199	2,581	-7,605	-6,883	2,834	-38,081	-11,596	-11,094	24,563	-2,276	-9,378	-7,487	1,366	-1,484	-20,708	-3,055	0	-3,926	4,930	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	464	857	519	442	271	-36	-35	-43	-1,141	-292	-297	-285	-315	-278	-327	-354	-821	-753	-827	-553	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Non Operating Income Net Other	0	0	547	467	318	0	0	0	0	0	0	0	0	0	0	0	1	1	2	4	7	6	8	10	9	7	9	31	1,616	1,747	1,686	1,817	3,364	215	383	232	118	202	16	56	0	20	33	2	31	3	2	-20	0	-3	30	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Non Recurring	0	0	4,220	0	1,049	0	0	0	700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,902	0	0	0	216	0	0	0	21,885	0	0	0	0	0	0	-1,726	-33,923	8	-10	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	8,968	1,996	23,515	-1,116	11,328	4,880	201	-326	34,045	5,745	3,452	6,019	11,126	3,840	1,160	-1,346	10,052	2,143	-2,093	-4,864	5,754	76	-3,523	-6,262	7,775	-731	-6,031	-5,728	-91	1,043	-2,839	-6,324	4,437	4,632	-6,211	-5,438	8,912	-42,312	-10,003	-9,403	6,534	-2,697	-14,382	-11,074	-10,181	-2,461	-28,094	-4,095	12,116	-5,043	9,338	18,475	41,960	32,376	22,983	25,320	40,048	24,151	13,429	10,690	21,249	10,391	2,686	1,249	17,013	8,079	-2,320	-2,359	16,865	4,630	1,799	4,708	21,299	7,898	812	2,501	5,751	8,293	2,119	3,632	10,017	6,540	-1,452	883
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	93,554	97,622	91,844	88,400	79,401	86,917	81,941	82,880	75,550	83,314	77,012	71,977	70,651	74,951	61,407	71,386	64,219	70,662	65,662	68,126	64,359	69,575	64,650	68,034	59,630	69,569	67,959	71,033	46,022	48,759	44,739	50,156	42,869	73,970	78,596	82,205	75,013	85,533	87,161	89,425	81,939	91,312	94,308	99,442	92,991	104,851	104,786	108,966	103,445	118,151	237,742	126,904	118,819	134,835	129,812	127,142	117,161	124,217	114,681	107,909	86,074	90,090	82,370	82,798	73,281	78,487	78,596	80,501	69,260	79,875	73,564	70,805	60,465	70,454	67,424	68,368	67,548	60,903	57,087	55,942	50,156	47,171	45,203	40,363
Preferred Stock And Other Adjustments	0	0	0	0	199	304	304	304	307	304	304	304	304	1,074	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Reconciled Depreciation	1,940	1,724	1,677	1,255	1,744	1,561	1,529	1,528	1,520	1,927	1,792	1,901	1,854	1,783	1,873	1,890	2,144	1,983	1,939	2,050	2,132	2,101	2,088	2,100	2,264	2,163	2,122	2,153	2,476	2,496	2,667	3,427	3,779	3,483	3,577	3,667	4,582	4,725	4,967	5,064	6,131	5,933	5,665	5,972	6,399	6,465	6,921	7,063	7,195	7,581	6,780	6,908	6,551	6,447	6,767	6,453	6,664	6,202	6,125	5,249	4,397	4,490	4,615	4,418	4,056	4,014	3,971	3,892	3,838	3,987	3,720	3,513	3,529	3,521	3,535	2,694	0	0	0	0	0	0	-	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	35,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Selling General Administrative	52,532	54,485	51,814	50,307	7,888	46,984	45,835	46,684	40,763	45,209	43,318	156,199	156,199	40,700	35,162	41,148	33,664	37,451	35,913	38,146	33,153	36,087	34,471	37,531	29,401	35,499	35,554	38,324	27,039	24,361	23,072	27,012	21,881	34,944	41,248	44,009	33,807	42,280	45,617	46,736	31,242	44,482	49,522	53,249	38,813	53,282	55,017	57,187	51,540	60,732	64,237	67,888	59,373	71,532	71,705	68,273	62,925	66,562	63,573	59,612	46,664	48,485	46,440	46,132	38,321	41,434	40,854	44,749	34,622	43,064	40,955	38,668	30,103	37,943	37,465	39,284	33,392	33,237	32,534	31,778	97,714	0	0	0
Tax Provision	2,633	789	6,784	-565	3,041	1,300	102	-641	8,939	1,614	729	1,245	-35,209	50	50	50	24	50	144	50	50	50	50	50	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Operating Expenses	52,530	54,493	51,814	50,307	42,888	46,984	45,835	46,684	40,762	45,209	43,318	39,633	39,188	40,700	35,162	41,148	33,664	37,451	35,913	38,146	33,156	36,087	34,471	37,531	29,401	35,499	35,554	38,324	23,473	24,361	23,072	27,012	20,177	34,944	41,248	44,009	35,541	42,280	45,617	46,736	39,603	44,482	49,522	53,249	46,382	53,282	55,017	57,157	51,540	60,732	183,123	67,888	59,373	71,531	71,694	68,273	62,935	66,566	63,561	59,610	46,653	48,536	46,443	46,169	38,321	41,434	43,844	44,749	34,194	43,057	40,955	38,668	30,099	37,940	37,865	39,284	-67,548	-60,903	-57,087	-55,942	-50,156	-47,171	-45,203	-40,363
Total Other Income Expense Net	457	857	26,713	442	271	-36	160	-43	21,779	-292	-297	-285	-15	-1	97	-1	356	211	-827	-1	-673	-427	7	-117	4	1,530	63	26	-2,739	1,677	1,684	2,142	1,812	-248	363	270	-1,376	-41,288	6	111	-2	106	-5,273	-1,715	-19,641	-1,751	-23,671	8	1	-10,370	8	27	-6,240	-7	48	-4	-242	11	8	8	11	-51	-3	-37	1	26	-2,990	-436	426	-193	54	16	4	246	-741	-1,186	0	0	0	0	0	0	0	0
Total Revenue	102,522	99,618	88,646	87,284	91,778	91,813	82,142	82,554	87,816	89,059	80,464	77,996	81,792	78,792	62,470	70,041	73,915	72,594	63,569	63,263	70,113	70,078	61,120	61,889	67,401	67,308	61,865	65,279	50,348	49,803	41,894	43,443	48,856	79,046	72,393	76,720	85,449	84,658	77,152	79,967	88,475	88,509	85,217	90,083	102,451	104,144	100,365	104,871	115,561	123,482	128,224	145,358	167,023	167,211	152,795	152,466	157,459	148,368	128,110	118,599	107,323	100,481	85,056	84,047	90,294	86,566	76,276	78,142	86,125	84,505	75,363	75,513	81,764	78,352	68,236	70,869	73,299	69,196	59,206	59,574	60,173	53,711	43,751	41,246

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	378,070
Cost of Revenue	-162,275
Gross Profit	215,795	215,795

Operating Income (+$)
Gross Profit	215,795
Operating Expense	-209,135
Operating Income	6,660	6,660

Operating Expense (+$)
Research Development	0
Selling General Administrative	199,491
Selling And Marketing Expenses	0
Operating Expense	209,135	199,491

Net Interest Income (+$)
Interest Income	2,209
Interest Expense	-347
Other Finance Cost	-227
Net Interest Income	2,089

Pretax Income (+$)
Operating Income	6,660
Net Interest Income	2,089
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	35,639	-22,319 EBIT - interestExpense = 6,313 35,639 26,344
Interest Expense	347
Earnings Before Interest and Taxes (EBIT)	6,660	35,986
Earnings Before Interest and Taxes (EBITDA)	13,256

After tax Income (+$)
Income Before Tax	35,639
Tax Provision	-10,050
Net Income From Continuing Ops	27,763	25,589
Net Income	25,997
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	371,410
Total Other Income/Expenses Net	28,979	-2,089

Technical Analysis of Lincoln Educational Services
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Lincoln Educational Services. The general trend of Lincoln Educational Services is BULLISH with 14.3% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Lincoln Educational Services's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (14.3%)		Bearish trend (-14.3%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Lincoln Educational Services.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 10.68 < 10.81.

The bearish price targets are: 9.29 > 8.91 > 8.91.

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Lincoln Educational Services Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Lincoln Educational Services. The current mas is .

The long score for the Moving Averages is 8/14.
The longshort score for the Moving Averages is 2/(-14 +14).

MA 20 trending down: The MA 20 is trending down. -1
Close < MA 20: The price is below the MA 20. -1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending down: The MA 50 is trending down. -1
Close < MA 50: The price is below the MA 50. -1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending down: The MA 100 is trending down. -1
Close < MA 100: The price is below the MA 100. -1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Lincoln Educational Services Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Lincoln Educational Services. The current macd is -0.08294569.

The long score for the Moving Average Convergence/Divergence (MACD) is 0/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -4/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Lincoln Educational Services price going down in the near term. -2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Lincoln Educational Services. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Lincoln Educational Services price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1

Lincoln Educational Services Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Lincoln Educational Services. The current adx is 16.40.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -2/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Lincoln Educational Services shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bearish trend could be forming. -1

Lincoln Educational Services Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Lincoln Educational Services. The current sar is 10.76.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

Lincoln Educational Services Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Lincoln Educational Services. The current rsi is 40.20. The current phase is Correction in bull market.

The long score for the Relative Strength Index (RSI) is 0/13.
The longshort score for the Relative Strength Index (RSI) is -4/(-13 +13).

Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Lincoln Educational Services Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Lincoln Educational Services. The current phase is Oversold in bull market.

The long score for the Stochastic Oscillator is 0/6.
The longshort score for the Stochastic Oscillator is -6/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH < 20: The STOCH %K is below 20 and oversold. -2
STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Lincoln Educational Services price going down in the near term. -2
Trending down: The STOCH %K is trending down. -1

Lincoln Educational Services Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Lincoln Educational Services. The current cci is -140.00782.

The long score for the Commodity Channel Index (CCI) is 0/1.
The longshort score for the Commodity Channel Index (CCI) is -1/(-1 +1).

CCI < -100: The CCI is below -100, it indicates that the price is significantly below its average, suggesting a potential oversold condition. -1

Lincoln Educational Services Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Lincoln Educational Services. The current cmo is -30.60838645.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

Lincoln Educational Services Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Lincoln Educational Services. The current willr is -96.11650485.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is -1/(-1 +1).

WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1

Lincoln Educational Services Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Lincoln Educational Services.

Lincoln Educational Services Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Lincoln Educational Services. The current atr is 0.27782545.

Lincoln Educational Services Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Lincoln Educational Services. The current obv is -298,632.

Lincoln Educational Services Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Lincoln Educational Services. The current mfi is 22.76.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

MFI < 50: -1

Lincoln Educational Services Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Lincoln Educational Services.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-11-28	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-11-30	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-01	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-13	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2023-12-14	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-15	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2023-12-18	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-19	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-26	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-27	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-02	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-01-03	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-04	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-05	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-16	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-17	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-22	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-24	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-01-26	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-30	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-02	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-06	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-09	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-12	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-13	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-20	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-21	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-02-23	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-26	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-27	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-04	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-03-05	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-03-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-11	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-14	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-15	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-03-18	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-19	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-21	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-25	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-02	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-03	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-04-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-08	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-10	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-16	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-17	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside

6.3. Candlestick Patterns

Lincoln Educational Services Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Lincoln Educational Services based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	40.198
Ma 20	Greater than	Ma 50	10.109
Ma 50	Greater than	Ma 100	10.020
Ma 100	Greater than	Ma 200	9.728
Open	Greater than	Close	9.760
Total			4/5 (80.0%)

Create your own Symbol Scanner

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Lincoln Educational Services Buy, Hold or Sell?

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Quick analysis of Lincoln Educational Services (30 sec.)

What can you expect buying and holding a share of Lincoln Educational Services? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Lincoln Educational Services (5 min.)

$9.59

$5.25

$-2.18 - $0.04

$3.08 - $5.30

2. Growth of Lincoln Educational Services (5 min.)

Is Lincoln Educational Services growing?

How much money is Lincoln Educational Services making?

How much money comes from the company's main activities?

3. Financial Health of Lincoln Educational Services (5 min.)

4. Comparing to competitors in the Education & Training Services industry (5 min.)

Industry Rankings (Education & Training Services)

What can you expect buying and holding a share of Lincoln Educational Services? (5 min.)

What can you expect buying and holding a share of Lincoln Educational Services?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Lincoln Educational Services

About Lincoln Educational Services

Financial Health

Valuation

1.1. Profitability of Lincoln Educational Services.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Education & Training Services)

1.1.2. Return on Assets

Trends

Compared to industry (Education & Training Services)

1.1.3. Return on Equity

Trends

Compared to industry (Education & Training Services)

1.2. Operating Efficiency of Lincoln Educational Services.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Education & Training Services)

1.2.2. Operating Ratio

Trends

Compared to industry (Education & Training Services)

1.3. Liquidity of Lincoln Educational Services.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Education & Training Services)

1.3.2. Quick Ratio

Trends

Compared to industry (Education & Training Services)

1.4. Solvency of Lincoln Educational Services.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Education & Training Services)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Education & Training Services)

2. Market Valuation of Lincoln Educational Services

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Education & Training Services)

Lincoln Educational Services
Buy, Hold or Sell?