The following is a summary of the Company’s unaudited quarterly results of operations for the fiscal years ending March 31, 2018 and 2017:

	Fiscal Year Ended March 31, 2018
	1st Quarter			2nd Quarter		3rd Quarter		4th Quarter		Total Year
	(in $000's)
Revenue	$	132,468		$	132,823	$	154,022	$	174,436	$	593,749
Cost of revenue		21,862			21,627		24,994		30,098		98,581
Other operating expenses		77,528			79,470		84,262		96,771		338,031
Other income, net		714			758		888		940		3,300
Income before income taxes		33,792			32,484		45,654		48,507		160,437
Income tax provision (1)(2)		(3,582	)		7,981		32,208		11,660		48,267
Net income	$	37,374		$	24,503	$	13,446	$	36,847	$	112,170
Basic net income per share	$	0.85		$	0.56	$	0.30	$	0.83	$	2.54
Diluted net income per share	$	0.82		$	0.54	$	0.29	$	0.80	$	2.45

(1)

On December 22, 2017, the Tax Cuts and Jobs Act, or Tax Reform Act, was enacted into law. This new law, among other items, reduces the U.S. federal statutory corporate income tax rate from 35% to 21% effective January 1, 2018. During the year ended March 31, 2018, the Company recorded tax expense adjustments for $21.4 million related to the revaluation of its deferred taxes due to a reduction of the U.S. federal statutory corporate income tax rate.

(2)

In the first quarter of fiscal 2018, the Company adopted Accounting Standards Update No. 2016-09, Improvements to Employee Share-Based Payment Accounting, which requires that all excess tax benefits and tax deficiencies related share-based compensation arrangements be recognized as income tax benefit or expense, instead of in stockholders’ equity as previous guidance required. The income tax benefit for the year ended March 31, 2018 included excess tax benefits of $31.0 million. These recognized excess tax benefits resulted from restricted stock units that vested or stock options that were exercised during the year ended March 31, 2018.

	Fiscal Year Ended March 31, 2017
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total Year
	(in $000's)
Revenue	$	102,995	$	102,955	$	114,674	$	124,680	$	445,304
Cost of revenue		15,070		17,309		18,987		19,261		70,627
Other operating expenses		66,692		71,138		70,284		76,425		284,539
Other income, net		192		228		423		362		1,205
Income before income taxes		21,425		14,736		25,826		29,356		91,343
Income tax provision		8,515		5,861		10,394		14,457		39,227
Net income	$	12,910	$	8,875	$	15,432	$	14,899	$	52,116
Basic net income per share	$	0.30	$	0.21	$	0.36	$	0.34	$	1.21
Diluted net income per share	$	0.29	$	0.20	$	0.34	$	0.33	$	1.17