Financial Statement
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
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Three Months Ended June 30, |
Six Months Ended June 30 |
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2013 | 2012 | 2013 | 2012 |
| Operating revenue | $51,004 | $47,716 | $103,570 | $91,543 |
| Operating expenses: |
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| Cost of services provided | 10,358 | 9,157 | 20,249 | 18,186 |
| Product development | 6,724 | 5,814 | 13,759 | 10,086 |
| Sales and marketing | 3,827 | 4,296 | 7,739 | 8,108 |
| General and administrative | 8,253 | 8,577 | 18,224 | 15,021 |
| Amortization and depreciation | 2,548 | 2,161 | 5,000 | 4,102 |
| Total operating expenses | 31,710 | 30,005 | 64,971 | 55,503 |
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| Operating income | 19,294 | 17,711 | 38,599 | 36,040 |
| Interest income | 91 | 110 | 184 | 277 |
| Interest expense | (281) | (312) | (643) | (565) |
| Other non-operating income (loss) | (1,425) | 262 | (1,343) | 262 |
| Foreign currency exchange gain (loss) | (123) | 2,591 | (293) | 2,295 |
| Income before income taxes | 17,556 | 20,362 | 36,504 | 38,309 |
| Income tax expense | (4,014) | (2,295) | (5,618) | (4,557) |
| Net income | $13,542 | $18,067 | $30,886 | $33,752 |
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| Basic earnings per common share | $0.36 | $0.49 | $0.83 | $0.92 |
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| Diluted earnings per common share | $0.35 | $0.47 | $0.80 | $0.86 |
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| Basic weighted average shares outstanding | 37,210 | 36,908 | 37,189 | 36,679 |
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| Diluted weighted average shares outstanding | 38,789 | 38,827 | 38,784 | 39,175 |
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