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Three Months Ended | Nine Months Ended | ||
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September 30, | September 30, | ||
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2012 | 2011 | 2012 | 2011 |
Operating revenue | $ 53,804 | $ 42,602 | $ 145,347 | $ 124,919 |
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Operating expenses: |
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Cost of services provided | 9,500 | 8,710 | 27,686 | 24,931 |
Product development | 7,102 | 4,964 | 17,188 | 14,385 |
Sales and marketing | 4,346 | 3,440 | 12,454 | 9,553 |
General and administrative | 9,679 | 5,785 | 24,700 | 18,240 |
Amortization and depreciation | 2,469 | 1,749 | 6,571 | 5,617 |
Total operating expenses | 33,096 | 24,648 | 88,599 | 72,726 |
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Operating income | 20,708 | 17,954 | 56,748 | 52,193 |
Interest income | 88 | 100 | 365 | 429 |
Interest expense | (440) | (218) | (1,005) | (592) |
Other non-operating income (loss) | 414 | 33 | 676 | (785) |
Foreign currency exchange gain (loss) | (536) | (230) | 1,759 | 2,635 |
Income before income taxes | 20,234 | 17,639 | 58,543 | 53,880 |
Income tax benefit (expense) | (2,162) | (1,103) | (6,719) | 168 |
Net income | $ 18,072 | $ 16,536 | $ 51,824 | $ 54,048 |
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Basic earnings per common share | $ 0.49 | $ 0.44 | $ 1.41 | $ 1.41 |
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Diluted earnings per common share | $ 0.46 | $ 0.41 | $ 1.32 | $ 1.31 |
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Basic weighted average shares outstanding | 37,214 | 37,345 | 36,859 | 38,215 |
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Diluted weighted average shares outstanding | 39,120 | 40,449 | 39,158 | 41,400 |
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