Financial Statement
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
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Three Months Ended September 30, |
Nine Months Ended September 30 |
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2014 | 2013 | 2014 | 2013 |
| Operating revenue | $50,808 | $50,293 | $153,688 | $153,863 |
| Operating expenses: |
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| Cost of services provided | 10,275 | 10,136 | 29,851 | 30,385 |
| Product development | 6,779 | 6,625 | 20,230 | 20,384 |
| Sales and marketing | 3,559 | 4,024 | 10,644 | 11,763 |
| General and administrative | 6,008 | 8,448 | 26,917 | 26,672 |
| Amortization and depreciation | 2,449 | 2,459 | 7,442 | 7,459 |
| Total operating expenses | 29,070 | 31,692 | 95,084 | 96,663 |
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| Operating income | 21,738 | 18,601 | 58,604 | 57,200 |
| Interest income | 61 | 159 | 326 | 343 |
| Interest expense | (392) | (318) | (850) | (961) |
| Other non-operating income (loss) | (19) | 93 | 296 | (1,250) |
| Non-operating expense - securities litigation | (350) | (4,226) | (350) | (4,226) |
| Foreign currency exchange gain (loss) | 987 | (33) | 532 | (326) |
| Income before income taxes | 22,025 | 14,276 | 58,558 | 50,780 |
| Income tax expense | (4,010) | (1,133) | (11,547) | (6,751) |
| Net income | $18,015 | $13,143 | $47,011 | $44,029 |
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| Basic earnings per common share | $0.47 | $0.35 | $1.23 | $1.18 |
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| Diluted earnings per common share | $0.47 | $0.34 | $1.22 | $1.14 |
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| Basic weighted average shares outstanding | 38,050 | 37,919 | 38,264 | 37,435 |
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| Diluted weighted average shares outstanding | 38,253 | 38,451 | 38,499 | 38,676 |
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