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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Software licenses and royalties $ 19,842 $ 19,930 $ 55,172 $ 54,331
Subscriptions 44,840 36,869 125,889 104,926
Software services 47,479 44,738 139,869 133,208
Maintenance 92,285 83,000 268,556 237,775
Appraisal services 6,290 6,541 19,268 20,083
Hardware and other 3,410 3,419 14,057 12,439
Total revenues 214,146 194,497 622,811 562,762
Cost of revenues:        
Software licenses and royalties 826 623 2,204 1,927
Acquired software 5,473 5,598 16,243 16,737
Software services, maintenance and subscriptions 98,036 88,623 287,748 260,610
Appraisal services 4,089 4,053 12,568 12,473
Hardware and other 2,293 2,120 10,408 8,481
Total cost of revenues 110,717 101,017 329,171 300,228
Gross profit 103,429 93,480 293,640 262,534
Selling, general and administrative expenses 44,656 42,007 131,249 124,998
Research and development expense 11,834 11,070 35,307 31,362
Amortization of customer and trade name intangibles 3,492 3,458 10,413 10,273
Operating income 43,447 36,945 116,671 95,901
Other income (expense), net 75 (526) (216) (1,713)
Income before income taxes 43,522 36,419 116,455 94,188
Income tax provision 5,259 989 14,308 15,527
Net income $ 38,263 $ 35,430 $ 102,147 $ 78,661
Earnings per common share:        
Basic (USD per share) $ 1.02 $ 0.97 $ 2.74 $ 2.16
Diluted (USD per share) $ 0.97 $ 0.91 $ 2.60 $ 2.02