v3.20.2
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Revenues $ 134,590 $ 90,385 $ 319,298 $ 267,132
Operating expenses:        
Selling & administrative 8,817 8,153 25,196 26,473
Enterprise technology & product support 7,342 6,743 21,797 19,933
Depreciation & amortization 3,528 3,524 10,483 9,075
Total operating expenses 104,784 72,414 255,789 216,456
Operating income (loss) 29,806 17,971 63,509 50,676
Other income:        
Interest income 0 729 389 1,910
Income before income taxes 29,806 18,700 63,898 52,586
Income tax provision 4,715 4,190 13,148 12,113
Net income $ 25,091 $ 14,510 $ 50,750 $ 40,473
Basic net income per share (in usd per share) $ 0.37 $ 0.21 $ 0.75 $ 0.60
Diluted net income per share (in usd per share) $ 0.37 $ 0.21 $ 0.75 $ 0.60
Weighted average shares outstanding:        
Basic (in shares) 67,025 66,960 67,004 66,858
Diluted (in shares) 67,025 66,960 67,004 66,858
State enterprise        
Revenues:        
Revenues $ 91,475 $ 73,257 $ 243,690 $ 217,981
Operating expenses:        
Cost of revenues, exclusive of depreciation & amortization 53,807 43,821 145,954 130,881
Software & services        
Revenues:        
Revenues 43,115 17,128 75,608 49,151
Operating expenses:        
Cost of revenues, exclusive of depreciation & amortization $ 31,290 $ 10,173 $ 52,359 $ 30,094

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