$32.8 million at December 31, 2013 versus $56.6 million at June 30, 2013.
New student enrollments are down 14.4% (Quarter over same Quarter). Total student population is down 11.1%.
My guess is that the "cost savings measures" involve delayed maintenance, and the like. Imagine going to school where all the equipment needs repair and maintenance. I can almost hear it now, "We don't have the money to replace the light bulb in the Smartboard, so we don't use that room."