Financial Statement
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
| Three Months Ended March 31, | |||||||
| 2009 | 2008 | ||||||
| Operating Revenue: | $ | 20,668 | $ | 16,639 | |||
| Operating expenses: | |||||||
| Costs of services provided | 4,085 | 2,843 | |||||
| Product development | 2,505 | 2,171 | |||||
| Sales and marketing | 1,134 | 847 | |||||
| General and administrative | 3,843 | 3,816 | |||||
| Amortization and depreciation | 744 | 819 | |||||
| Total operating expenses | 12,311 | 10,496 | |||||
| Operating income | 8,357 | 6,143 | |||||
| Interest income | 52 | 122 | |||||
| Interest expense | (284) | (342) | |||||
| Foreign exchange gain | 406 | 59 | |||||
| Income before income taxes | 8,531 | 5,982 | |||||
| Income tax provision | (196) | (312) | |||||
| Net income | $ | 8,335 | $ | 5,670 | |||
| Basic earnings per common share | $ | 0.84 | $ | 0.55 | |||
| Diluted earnings per common share | $ | 0.69 | $ | 0.47 | |||
| Basic weighted average shares outstanding | 9,927 | 10,219 | |||||
| Diluted weighted average shares outstanding | 12,364 | 12,462 | |||||
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