XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Software licenses and royalties $ 17,551 $ 14,586 $ 34,401 $ 28,886
Subscriptions 33,968 26,949 68,057 52,237
Software services 46,040 34,563 88,470 65,367
Maintenance 78,743 59,463 154,775 116,811
Appraisal services 6,984 6,691 13,542 12,780
Hardware and other 5,686 4,043 9,020 5,180
Total revenues 188,972 146,295 368,265 281,261
Cost of revenues:        
Software licenses and royalties 666 483 1,304 1,036
Acquired software 5,680 456 11,139 912
Software services, maintenance and subscriptions 86,717 69,678 171,987 135,055
Appraisal services 4,458 4,278 8,420 8,413
Hardware and other 4,515 3,147 6,361 3,713
Total cost of revenues 102,036 78,042 199,211 149,129
Gross profit 86,936 68,253 169,054 132,132
Selling, general and administrative expenses 42,232 30,396 82,991 58,941
Research and development expense 10,336 7,110 20,292 14,114
Amortization of customer and trade name intangibles 3,453 1,151 6,815 2,303
Operating income 30,915 29,596 58,956 56,774
Other (expense) income, net (720) 185 (1,187) 366
Income before income taxes 30,195 29,781 57,769 57,140
Income tax provision 11,323 10,945 21,818 21,031
Net income $ 18,872 $ 18,836 $ 35,951 $ 36,109
Earnings per common share:        
Basic $ 0.52 $ 0.56 $ 0.99 $ 1.07
Diluted $ 0.49 $ 0.52 $ 0.94 $ 1.00