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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Software licenses and royalties $ 17,107 $ 17,551 $ 35,330 $ 34,401
Subscriptions 40,947 33,968 81,049 68,057
Software services 47,372 46,040 92,390 88,470
Maintenance 89,412 78,743 176,271 154,775
Appraisal services 6,366 6,984 12,978 13,542
Hardware and other 7,919 5,686 10,647 9,020
Total revenues 209,123 188,972 408,665 368,265
Cost of revenues:        
Software licenses and royalties 647 666 1,378 1,304
Acquired software 5,360 5,680 10,770 11,139
Software services, maintenance and subscriptions 96,172 86,717 189,712 171,987
Appraisal services 4,282 4,458 8,479 8,420
Hardware and other 6,799 4,515 8,115 6,361
Total cost of revenues 113,260 102,036 218,454 199,211
Gross profit 95,863 86,936 190,211 169,054
Selling, general and administrative expenses 43,451 42,232 86,593 82,991
Research and development expense 11,874 10,336 23,473 20,292
Amortization of customer and trade name intangibles 3,463 3,453 6,921 6,815
Operating income 37,075 30,915 73,224 58,956
Other expense, net (101) (720) (291) (1,187)
Income before income taxes 36,974 30,195 72,933 57,769
Income tax provision 5,396 5,188 9,049 14,538
Net income $ 31,578 $ 25,007 $ 63,884 $ 43,231
Earnings per common share:        
Basic (USD per share) $ 0.85 $ 0.69 $ 1.72 $ 1.19
Diluted (USD per share) $ 0.81 $ 0.65 $ 1.63 $ 1.11