Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Operating revenue | $ | 42,602 | $ | 33,281 | $ | 124,919 | $ | 97,091 | ||||||||
Operating expenses: | ||||||||||||||||
Cost of services provided | 8,710 | 7,418 | 24,931 | 21,908 | ||||||||||||
Product development | 4,964 | 3,294 | 14,385 | 10,228 | ||||||||||||
Sales and marketing | 3,440 | 1,685 | 9,553 | 4,759 | ||||||||||||
General and administrative | 5,785 | 6,249 | 18,240 | 16,914 | ||||||||||||
Amortization and depreciation | 1,749 | 1,553 | 5,617 | 4,433 | ||||||||||||
Total operating expenses | 24,648 | 20,199 | 72,726 | 58,242 | ||||||||||||
Operating income | 17,954 | 13,082 | 52,193 | 38,849 | ||||||||||||
Interest income | 100 | 163 | 429 | 378 | ||||||||||||
Interest expense | (218) | (236) | (592) | (750) | ||||||||||||
Other non-operating income (loss) | 33 | 3,917 | (785) | 5,678 | ||||||||||||
Foreign currency exchange gain (loss) | (230) | 523 | 2,635 | 859 | ||||||||||||
Income before income taxes | 17,639 | 17,449 | 53,880 | 45,014 | ||||||||||||
Income tax benefit (expense) | (1,103) | (768) | 168 | (1,939) | ||||||||||||
Net income | $ | 16,536 | $ | 16,681 | $ | 54,048 | $ | 43,075 | ||||||||
Basic earnings per common share | $ | 0.44 | $ | 0.48 | $ | 1.41 | $ | 1.24 | ||||||||
Diluted earnings per common share | $ | 0.41 | $ | 0.43 | $ | 1.31 | $ | 1.10 | ||||||||
Basic weighted average shares outstanding | 37,345 | 34,592 | 38,215 | 34,765 | ||||||||||||
Diluted weighted average shares outstanding | 40,449 | 39,020 | 41,400 | 39,218 | ||||||||||||