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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
License $ 50,237 $ 57,653 $ 156,975 $ 154,732
Maintenance 59,262 63,764 178,895 188,572
Services 25,842 28,194 72,449 75,773
Hosting 103,360 100,033 329,021 306,848
Total revenues 238,701 249,644 737,340 725,925
Operating expenses        
Cost of license [1] 5,387 5,433 17,435 18,066
Cost of maintenance, services and hosting [1] 104,272 105,319 337,769 325,801
Research and development 36,123 36,321 112,639 112,653
Selling and marketing 28,451 27,078 88,660 82,994
General and administrative 20,284 25,329 66,867 75,127
Depreciation and amortization 20,298 18,295 59,995 52,383
Total operating expenses 214,815 217,775 683,365 667,024
Operating income 23,886 31,869 53,975 58,901
Other income (expense)        
Interest expense (9,728) (10,416) (31,174) (28,920)
Interest income 94 98 254 432
Other, net 4,314 3,614 27,695 (1,344)
Total other income (expense) (5,320) (6,704) (3,225) (29,832)
Income before income taxes 18,566 25,165 50,750 29,069
Income tax expense 3,786 9,433 9,081 7,875
Net income $ 14,780 $ 15,732 $ 41,669 $ 21,194
Income per common share        
Basic $ 0.13 $ 0.14 $ 0.36 $ 0.18
Diluted $ 0.12 $ 0.14 $ 0.35 $ 0.18
Weighted average common shares outstanding        
Basic 117,922 114,484 117,035 114,603
Diluted 119,304 116,428 118,498 116,682
[1] The cost of software license fees excludes charges for depreciation but includes amortization of purchased and developed software for resale. The cost of maintenance, services and hosting fees excludes charges for depreciation.