v3.19.3
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Revenues $ 136,172 $ 143,507 $ 410,948 $ 416,699
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 38,202 33,124 110,982 88,093
Gross profit 97,970 110,383 299,966 328,606
Operating expenses:        
Sales and marketing 33,058 26,743 99,181 78,280
Research and development 20,281 14,432 56,725 38,845
General and administrative 28,980 24,916 82,743 71,119
Total operating expenses 82,319 66,091 238,649 188,244
Income from operations 15,651 44,292 61,317 140,362
Foreign currency exchange gain (loss), net (38) (957) (285) (957)
Interest expense (589) (668) (1,948) (1,908)
Interest income and other income, net 53 83 170 175
Income before income taxes 15,077 42,750 59,254 137,672
Income tax expense 5,929 9,337 20,359 11,691
Net income $ 9,148 $ 33,413 $ 38,895 $ 125,981
Net income per share:        
Basic (in dollars per share) $ 0.53 $ 1.84 $ 2.24 $ 7.02
Diluted (in dollars per share) $ 0.52 $ 1.75 $ 2.19 $ 6.69
Weighted average shares outstanding:        
Basic (in shares) 17,144 18,161 17,326 17,942
Diluted (in shares) 17,441 19,046 17,753 18,822
Service        
Revenues:        
Revenues $ 124,643 $ 127,810 $ 375,979 $ 373,932
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 34,040 25,102 98,727 68,361
Product        
Revenues:        
Revenues 5,116 4,705 15,306 15,276
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 1,602 1,383 4,824 4,614
Insurance        
Revenues:        
Revenues 3,106 4,023 9,871 12,684
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 0 933 0 2,945
Customized postage        
Revenues:        
Revenues 3,307 6,957 9,792 14,755
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 2,560 5,706 7,431 12,173
Other        
Revenues:        
Revenues $ 0 $ 12 $ 0 $ 52

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