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Selected Quarterly Operating Results (Unaudited) (Tables)
 12 Months Ended
Mar. 31, 2019
Selected Quarterly Financial Information [Abstract]  
Summary of Selected Quarterly Operating Results

The following table presents quarterly unaudited consolidated financial information for the eight quarters preceding March 31, 2019. Such information is presented on the same basis as the annual information presented in the accompanying consolidated financial statements. In management’s opinion, this information reflects all adjustments that are necessary for a fair statement of the results for these periods.

 

 

 

Quarter Ended

 

 

 

3/31/19

 

 

12/31/18

 

 

9/30/18

 

 

6/30/18

 

 

3/31/18

 

 

12/31/17

 

 

9/30/17

 

 

6/30/17

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recurring

 

$

120,151

 

 

$

117,446

 

 

$

116,317

 

 

$

120,007

 

 

$

118,598

 

 

$

118,997

 

 

$

119,441

 

 

$

119,178

 

Software, hardware, and other non-recurring

 

 

14,634

 

 

 

13,421

 

 

 

14,004

 

 

 

13,193

 

 

 

17,177

 

 

 

12,718

 

 

 

13,166

 

 

 

11,744

 

Total revenues

 

 

134,785

 

 

 

130,867

 

 

 

130,321

 

 

 

133,200

 

 

 

135,775

 

 

 

131,715

 

 

 

132,607

 

 

 

130,922

 

Cost of revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recurring

 

 

48,174

 

 

 

47,997

 

 

 

47,172

 

 

 

48,153

 

 

 

48,856

 

 

 

49,347

 

 

 

47,699

 

 

 

48,458

 

Software, hardware, and other non-recurring

 

 

5,959

 

 

 

6,576

 

 

 

7,022

 

 

 

7,154

 

 

 

6,775

 

 

 

6,323

 

 

 

5,947

 

 

 

6,040

 

Amortization of capitalized software costs and acquired intangible assets

 

 

7,924

 

 

 

7,098

 

 

 

6,924

 

 

 

6,544

 

 

 

6,346

 

 

 

5,964

 

 

 

5,109

 

 

 

4,671

 

Total cost of revenue

 

 

62,057

 

 

 

61,671

 

 

 

61,118

 

 

 

61,851

 

 

 

61,977

 

 

 

61,634

 

 

 

58,755

 

 

 

59,169

 

Gross profit

 

 

72,728

 

 

 

69,196

 

 

 

69,203

 

 

 

71,349

 

 

 

73,798

 

 

 

70,081

 

 

 

73,852

 

 

 

71,753

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

44,710

 

 

 

41,304

 

 

 

34,229

 

 

 

44,636

 

 

 

65,709

 

 

 

43,563

 

 

 

40,977

 

 

 

42,977

 

Research and development costs, net

 

 

19,813

 

 

 

20,682

 

 

 

18,371

 

 

 

22,128

 

 

 

21,098

 

 

 

20,645

 

 

 

19,527

 

 

 

19,989

 

Amortization of acquired intangible assets

 

 

1,028

 

 

 

1,027

 

 

 

1,121

 

 

 

1,168

 

 

 

1,795

 

 

 

1,956

 

 

 

2,012

 

 

 

2,047

 

Impairment of assets (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,757

 

 

 

—

 

 

 

—

 

 

 

—

 

Restructuring costs

 

 

640

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

481

 

 

 

130

 

 

 

—

 

 

 

—

 

Total operating expenses

 

 

66,191

 

 

 

63,013

 

 

 

53,721

 

 

 

67,932

 

 

 

92,840

 

 

 

66,294

 

 

 

62,516

 

 

 

65,013

 

Income (loss) from operations

 

 

6,537

 

 

 

6,183

 

 

 

15,482

 

 

 

3,417

 

 

 

(19,042

)

 

 

3,787

 

 

 

11,336

 

 

 

6,740

 

Interest income

 

 

103

 

 

 

44

 

 

 

40

 

 

 

29

 

 

 

19

 

 

 

15

 

 

 

12

 

 

 

9

 

Interest expense

 

 

(595

)

 

 

(720

)

 

 

(769

)

 

 

(730

)

 

 

(1,073

)

 

 

(733

)

 

 

(840

)

 

 

(677

)

Other income (expense), net

 

 

(117

)

 

 

(227

)

 

 

237

 

 

 

374

 

 

 

85

 

 

 

(41

)

 

 

15

 

 

 

(22

)

Income (loss) before provision for (benefit of)

   income taxes

 

 

5,928

 

 

 

5,280

 

 

 

14,990

 

 

 

3,090

 

 

 

(20,011

)

 

 

3,028

 

 

 

10,523

 

 

 

6,050

 

Provision for (benefit of) income taxes

 

 

2,000

 

 

 

456

 

 

 

1,896

 

 

 

442

 

 

 

(8,964

)

 

 

1,487

 

 

 

2,493

 

 

 

2,154

 

Net income (loss)

 

$

3,928

 

 

$

4,824

 

 

$

13,094

 

 

$

2,648

 

 

$

(11,047

)

 

$

1,541

 

 

$

8,030

 

 

$

3,896

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic (2)

 

$

0.06

 

 

$

0.07

 

 

$

0.20

 

 

$

0.04

 

 

$

(0.17

)

 

$

0.02

 

 

$

0.13

 

 

$

0.06

 

Diluted (2)

 

$

0.06

 

 

$

0.07

 

 

$

0.20

 

 

$

0.04

 

 

$

(0.17

)

 

$

0.02

 

 

$

0.13

 

 

$

0.06

 

Weighted-average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

64,749

 

 

 

64,637

 

 

 

64,265

 

 

 

64,019

 

 

 

63,888

 

 

 

63,706

 

 

 

63,513

 

 

 

62,636

 

Diluted

 

 

64,917

 

 

 

64,776

 

 

 

64,857

 

 

 

64,054

 

 

 

63,888

 

 

 

63,708

 

 

 

63,530

 

 

 

62,643

 

 

(1)

Impairment of assets for the quarter ended 3/31/2018 relates to the impairment of our acquired trade names intangible assets, which was the result of the elimination of certain legacy brand and trade names due to the launching of our new branding, identity, and corporate logo intended to reflect our expanded health technology portfolio following years of recent acquisitions. Refer to Note 7 for additional details.

(2)

Quarterly net income (loss) per share may not sum to annual net income (loss) per share due to rounding.