v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues:    
Revenues $ 151,346 $ 136,003
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):    
Total cost of revenues 40,380 36,339
Gross profit 110,966 99,664
Operating expenses:    
Sales and marketing 37,004 32,881
Research and development 21,323 17,314
General and administrative 28,468 26,228
Total operating expenses 86,795 76,423
Income from operations 24,171 23,241
Foreign currency exchange gain (loss), net (138) (95)
Interest expense (467) (714)
Interest income and other income (loss), net 26 65
Income before income taxes 23,592 22,497
Income tax expense 7,098 6,742
Net income $ 16,494 $ 15,755
Net income per share:    
Basic (in dollars per share) $ 0.97 $ 0.90
Diluted (in dollars per share) $ 0.91 $ 0.87
Weighted average shares outstanding:    
Basic (in shares) 17,064 17,547
Diluted (in shares) 18,189 18,015
Service    
Revenues:    
Revenues $ 139,136 $ 123,907
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):    
Total cost of revenues 36,527 32,235
Product    
Revenues:    
Revenues 5,956 5,405
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):    
Total cost of revenues 1,738 1,673
Insurance    
Revenues:    
Revenues 3,180 3,334
Customized postage    
Revenues:    
Revenues 3,074 3,357
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):    
Total cost of revenues $ 2,115 $ 2,431

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