UNAUDITED QUARTERLY OPERATING RESULTS

12 Months Ended

Dec. 31, 2011

UNAUDITED QUARTERLY OPERATING RESULTS

13. UNAUDITED QUARTERLY OPERATING RESULTS

The unaudited quarterly information below is subject to seasonal fluctuations resulting in lower portal revenues in the fourth quarter of each calendar year (on an individual portal basis, and excluding revenues from new outsourced government portal contracts awarded or acquired during the year), due to the lower number of business days in the quarter and a lower volume of business-to-government and citizen-to-government transactions during the holiday periods.  For additional information on significant items affecting the quarterly results for the periods presented, refer above to Notes 8, 10, and 11.

2011
	Three Months Ended										Year Ended
	March 31, 2011		June 30, 2011		September 30, 2011			December 31, 2011			December 31, 2011
Revenues:
Portal revenues	$	40,355,066	$	43,783,252	$	43,850,010		$	42,288,106		$	170,276,434
Software & services revenues		2,378,412		2,640,677		2,838,915			2,764,733			10,622,737
Total revenues		42,733,478		46,423,929		46,688,925			45,052,839			180,899,171
Operating expenses:
Cost of portal revenues, exclusive of
depreciation & amortization		25,420,650		26,362,294		27,122,489			25,824,503			104,729,936
Cost of software & services revenues,
exclusive of depreciation &
amortization		996,969		1,008,960		1,062,767			962,221			4,030,917
Selling & administrative		6,685,990		8,419,671		6,275,587			7,350,510			28,731,758
Amortization of acquisition-related
intangible assets (Notes 4 & 5)		80,769		80,769		80,769			80,769			323,076
Depreciation & amortization		1,084,423		1,109,318		1,167,347			1,214,324			4,575,412
Total operating expenses		34,268,801		36,981,012		35,708,959			35,432,327			142,391,099
Operating income		8,464,677		9,442,917		10,979,966			9,620,512			38,508,072
Other income (expense), net		3,123		615		(9,727	)		(28,831	)		(34,820	)
Income before income taxes		8,467,800		9,443,532		10,970,239			9,591,681			38,473,252
Income tax provision		3,412,805		3,910,303		4,139,018			4,068,644			15,530,770
Net income	$	5,054,995	$	5,533,229	$	6,831,221		$	5,523,037		$	22,942,482
Basic net income per share	$	0.08	$	0.09	$	0.11		$	0.08		$	0.35
Diluted net income per share	$	0.08	$	0.09	$	0.11		$	0.08		$	0.35
Weighted average shares outstanding:
Basic		63,771,121		63,997,854		64,120,253			64,176,446			64,017,813
Diluted		63,831,274		64,060,660		64,199,973			64,324,735			64,156,669

2010
	Three Months Ended										Year Ended
	March 31, 2010		June 30, 2010			September 30, 2010		December 31, 2010			December 31, 2010
Revenues:
Portal revenues	$	37,186,137	$	39,481,631		$	39,763,232	$	38,744,664		$	155,175,664
Software & services revenues		1,070,469		1,256,317			1,956,977		2,074,432			6,358,195
Total revenues		38,256,606		40,737,948			41,720,209		40,819,096			161,533,859
Operating expenses:
Cost of portal revenues, exclusive of
depreciation & amortization		23,295,163		23,884,902			23,686,305		24,685,746			95,552,116
Cost of software & services revenues,
exclusive of depreciation &
amortization		928,958		1,002,885			1,093,214		955,308			3,980,365
Selling & administrative		7,303,233		8,102,849			6,503,567		6,016,791			27,926,440
Amortization of acquisition-related
intangible assets (Notes 4 & 5)		80,769		80,769			80,769		80,769			323,076
Depreciation & amortization		1,082,148		1,114,892			1,108,406		1,048,302			4,353,748
Total operating expenses		32,690,271		34,186,297			32,472,261		32,786,916			132,135,745
Operating income		5,566,335		6,551,651			9,247,948		8,032,180			29,398,114
Other income (expense), net		916		(1,353	)		299		(9,419	)		(9,557	)
Income before income taxes		5,567,251		6,550,298			9,248,247		8,022,761			29,388,557
Income tax provision		2,244,621		2,620,676			3,196,085		2,964,128			11,025,510
Net income	$	3,322,630	$	3,929,622		$	6,052,162	$	5,058,633		$	18,363,047
Basic net income per share	$	0.05	$	0.06		$	0.09	$	0.08		$	0.28
Diluted net income per share	$	0.05	$	0.06		$	0.09	$	0.08		$	0.28
Weighted average shares outstanding:
Basic		63,267,061		63,468,332			63,608,908		63,696,151			63,511,383
Diluted		63,339,721		63,528,929			63,678,249		63,884,339			63,609,080