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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Aug. 31, 2019
Aug. 31, 2018
[1]
Aug. 31, 2019
Aug. 31, 2018
[1]
Revenue:        
Total revenue $ 106,716 $ 92,603 $ 296,260 $ 280,877
Costs of revenue:        
Total costs of revenue 20,825 16,696 54,475 50,242
Gross profit 85,891 75,907 241,785 230,635
Operating expenses:        
Sales and marketing 25,177 21,752 72,332 64,838
Product development 23,126 19,338 64,704 59,405
General and administrative 13,506 12,218 38,445 35,670
Amortization of acquired intangibles 7,068 3,319 14,841 9,956
Fees related to shareholder activist 0 0 0 1,472
Restructuring expenses 801 135 3,993 2,382
Acquisition-related expenses 253 42 1,360 128
Total operating expenses 69,931 56,804 195,675 173,851
Income from operations 15,960 19,103 46,110 56,784
Other (expense) income:        
Interest expense (3,321) (1,337) (6,920) (3,774)
Interest income and other, net 377 322 950 961
Foreign currency loss, net (774) (946) (2,068) (2,017)
Total other expense, net (3,718) (1,961) (8,038) (4,830)
Income before income taxes 12,242 17,142 38,072 51,954
(Benefit) provision for income taxes (1,315) 2,752 6,932 10,928
Net income $ 13,557 $ 14,390 $ 31,140 $ 41,026
Earnings per share:        
Basic (in dollars per share) $ 0.30 $ 0.32 $ 0.70 $ 0.90
Diluted (in dollars per share) $ 0.30 $ 0.32 $ 0.69 $ 0.88
Weighted average shares outstanding:        
Basic (in shares) 44,716 45,130 44,761 45,730
Diluted (in shares) 45,303 45,576 45,292 46,380
Cash dividends declared per common share (in dollars per share) $ 0.155 $ 0.140 $ 0.465 $ 0.420
Software licenses        
Revenue:        
Total revenue $ 30,686 $ 22,852 $ 83,216 $ 71,432
Costs of revenue:        
Total costs of revenue 1,204 1,077 3,296 3,571
Maintenance and services        
Revenue:        
Total revenue 76,030 69,751 213,044 209,445
Costs of revenue:        
Total costs of revenue 12,163 10,110 32,182 29,445
Amortization of acquired intangibles        
Costs of revenue:        
Total costs of revenue $ 7,458 $ 5,509 $ 18,997 $ 17,226
[1] The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.