\nNIC Inc. (Nasdaq: EGOV), a leading digital government solutions and payments company, announced results for the fourth quarter of 2020 that ended December 31, 2020, as compared to the fourth quarter of 2019.\n<\/p>\n
- \n
- Total revenues<\/b> of $141.2 million, a 62% increase.\n
- \n
- \nTotal revenues reflect $36.8 million from TourHealth, the Company’s COVID-19 testing solution with Impact Health and NEXT Marketing.\n<\/li>\n
- \nTotal revenues reflect $8.4 million from pandemic unemployment services provided to the Commonwealth of Virginia.\n<\/li>\n<\/ul>\n<\/li>\n
- Operating income<\/b> of $23.9 million, a 104% increase.\n
- \n
- \nOperating income reflects a $5.2 million contribution from TourHealth.\n<\/li>\n
- \nOperating income reflects a $1.9 million contribution from pandemic unemployment services provided to the Commonwealth of Virginia.\n<\/li>\n<\/ul>\n<\/li>\n
- Net income<\/b> of $17.8 million, a 79% increase.\n<\/li>\n
- Diluted earnings per share<\/b> of 26 cents, a 73% increase.\n
- \n
- \nDiluted earnings per share reflects an approximate 5 cent contribution from TourHealth.\n<\/li>\n
- \nDiluted earnings per share reflects an approximate 2 cent contribution from pandemic unemployment services provided to the Commonwealth of Virginia.\n<\/li>\n
- \nDiluted earnings per share was positively impacted by approximately 1 cent due to the release of reserves for unrecognized income tax benefits resulting from statute of limitations expirations. Certain similar discrete tax items positively impacted diluted earnings per share by approximately 2 cents in the prior year.\n<\/li>\n<\/ul>\n<\/li>\n
- Adjusted EBITDA<\/b> of $29.8 million, a 77% increase.\n<\/li>\n<\/ul>\n
Additional Fourth Quarter Financial Highlights:<\/span><\/b><\/p>\n
- \n
- \nSame state revenues of $88.0 million, a 22% increase.<\/p>\n
- \n
- \nSame state transaction-based revenues from Interactive Government Services (IGS) increased 13%, driven, in part, by higher revenues from DMV-related services, such as auto registrations, tax-related services, and outdoor recreation services, among others.\n<\/li>\n
- \nSame state transaction-based revenues from Driver History Records (DHR) decreased 4%, driven by volume declines in several states resulting primarily from the COVID-19 pandemic.\n<\/li>\n
- \nSame state revenues from other services (development services & fixed-fee management services) increased 240%, driven by revenues from pandemic unemployment services provided to the Commonwealth of Virginia, as described above.\n<\/li>\n<\/ul>\n<\/li>\n
- \nFinancial results from the Company\u2019s Texas payment processing contract previously included in the State Enterprise category were included in the Software & Services category beginning in the first quarter of 2020. Financial results in the prior year were reclassified to match the current year presentation.\n<\/li>\n
- \nSoftware & Services revenues of $53.1 million, a 260% increase, driven primarily by revenues from TourHealth, as described above.\n<\/li>\n
- \nOn February 1, 2021, the Company\u2019s Board of Directors declared a regular quarterly cash dividend of 9 cents per share, payable to stockholders of record as of March 3, 2021. The dividend, which is expected to total approximately $6.1 million based on the current number of shares outstanding, will be paid on March 17, 2021 out of the Company\u2019s available cash.\n<\/li>\n<\/ul>\n
Operational Highlights:<\/span><\/b><\/p>\n
\nThe Illinois Department of Agriculture awarded the Company a contract to provide its cannabis licensing solution for the state of Illinois through 2024.\n<\/p>\n
\nIn addition to this award, several of the Company\u2019s long-term government partners recently extended their relationships with the Company:\n<\/p>\n
- \n
- \nAlabama extended its enterprise contract with the Company for one year.\n<\/li>\n
- \nIndiana extended its enterprise contract with the Company for one year.\n<\/li>\n<\/ul>\n
\nDuring the fourth quarter of 2020, TourHealth provided testing services to the states of Florida, South Carolina and Kansas, as well as the Alabama Department of Corrections and the University of Mississippi. Beginning in the first quarter of 2021, TourHealth began testing legislators, staff and media at the Capitol building in Carson City, Nevada. The TourHealth team has also partnered with Delta airlines to test passengers and staff of international flights initially at the Detroit Metropolitan Airport and the Minneapolis\u2212Saint Paul International Airport.\n<\/p>\n
\n\u201cI am very proud of our very strong financial performance in the fourth quarter of 2020,\u201d said Harry Herington, NIC CEO and Chairman of the Board. \u201cThese results are a testament to the dedication and focus of our employees and our federal, state and local partners, who worked tirelessly to provide essential government services and introduce new critical solutions to citizens and businesses alike, all in the midst of a global pandemic.\u201d\n<\/p>\n
Full Year 2020 Performance:<\/span><\/b><\/p>\n
- \n
- Total revenues<\/b> of $460.5 million, a 30% increase.\n
- \n
- \nTotal revenues reflect $61.6 million from TourHealth.\n<\/li>\n
- \nTotal revenues reflect $19.6 million from pandemic unemployment services provided to the Commonwealth of Virginia.\n<\/li>\n<\/ul>\n<\/li>\n
- Operating income<\/b> of $87.4 million, a 40% increase.\n
- \n
- \nOperating income reflects a $10.0 million contribution from TourHealth.\n<\/li>\n
- \nOperating income reflects a $5.0 million contribution from pandemic unemployment services provided to the Commonwealth of Virginia.\n<\/li>\n<\/ul>\n<\/li>\n
- Net income<\/b> of $68.6 million, a 36% increase.\n<\/li>\n
- Diluted earnings per share<\/b> of $1.01, a 35% increase.\n
- \n
- \nDiluted earnings per share reflects an approximate 12 cent contribution from TourHealth.\n<\/li>\n
- \nDiluted earnings per share reflects an approximate 6 cent contribution from pandemic unemployment services provided to the Commonwealth of Virginia.\n<\/li>\n
- \nDiluted earnings per share was positively impacted by approximately 5 cents due to the release of reserves for unrecognized income tax benefits resulting from statute of limitations expirations and other favorable tax adjustments recognized upon filing the Company’s 2019 tax return. Certain similar discrete tax items positively impacted diluted earnings per share by approximately 3 cents in the prior year.\n<\/li>\n<\/ul>\n<\/li>\n
- Adjusted EBITDA<\/b> of $108.8 million, a 31% increase.\n<\/li>\n<\/ul>\n
Additional 2020 Financial Highlights:<\/span><\/b><\/p>\n
- \n
- \nSame state revenues of $329.4 million, a 14% increase.<\/p>\n
- \n
- \nSame state transaction-based revenues from Interactive Government Services (IGS) increased 14%.\n<\/li>\n
- \nSame state transaction-based revenues from Driver History Records (DHR) decreased 6%, driven by volume declines in several states resulting primarily from the COVID-19 pandemic.\n<\/li>\n
- \nSame state revenues from other services (development services & fixed-fee management services) increased 136%, driven by revenues from pandemic unemployment services provided to the Commonwealth of Virginia, as described above.\n<\/li>\n
- \nThe results of the Illinois contract were excluded from the same-state category for the full year 2020.\n<\/li>\n<\/ul>\n<\/li>\n
- \nSoftware & Services revenues of $128.7 million, a 101% increase, driven primarily by revenues from TourHealth, as described above.\n<\/li>\n<\/ul>\n
Transaction with Tyler Technologies<\/span><\/b><\/p>\n
\nIn a separate press release issued today, NIC and Tyler Technologies (NYSE: TYL) jointly announced that they have entered into a definitive agreement under which Tyler Technologies will acquire all outstanding shares of NIC in an all-cash transaction valued at approximately $2.3 billion. A copy of the press release can be found on NIC\u2019s investor relations website at ir.egov.com<\/a>. In light of the announced transaction, NIC\u2019s earnings call scheduled for February 11, 2021 will no longer take place.\n<\/p>\n
About NIC<\/b><\/p>\n
\nNIC (Nasdaq: EGOV) is a leading digital government solutions and payments company, serving more than 7,000 federal, state and local government agencies across the nation. With headquarters in Olathe, Kansas, and offices in more than 30 states, NIC partners with government to deliver user-friendly digital services that make it easier and more efficient to interact with government \u2013 providing valuable conveniences like applying for unemployment insurance, submitting business filings, renewing licenses, accessing information and making secure payments without visiting a government office. In the COVID-19 era and beyond, NIC helps government agencies rapidly deliver new digital solutions to provide essential services to citizens and businesses alike. Having served the public sector for nearly 30 years, NIC continues to evolve with its federal, state and local government partners to deliver innovative and cost-effective digital government to constituents. Learn more at www.egov.com<\/a>.\n<\/p>\n
Non-GAAP Measures<\/b><\/p>\n
\nIn addition to the results presented in accordance with U.S. GAAP, the Company presents non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin. Adjusted EBITDA is defined as net income excluding interest, income tax expense, depreciation & amortization, stock-based compensation and other significant non-operating or non-recurring items that are considered expenses or income under U.S. GAAP. Adjusted EBITDA margin is defined as adjusted EBITDA divided by total revenues. These measures should be used in addition to, and not as a substitute for, revenues, operating income, operating income margin, net income, earnings per share or other measures of profitability, liquidity or other performance measures computed in accordance with U.S. GAAP. The Company believes the presentation of adjusted EBITDA and adjusted EBITDA margin is useful to investors and other users as these measures represent key supplemental information to compare and evaluate the Company’s core underlying business results over time and with other companies. The non-GAAP measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies. The attached schedule provides a full reconciliation of these non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures. Adjusted EBITDA and adjusted EBITDA margin represent performance measures and are not intended to represent liquidity measures.\n<\/p>\n
Cautionary Statement Regarding Forward-Looking Information <\/b><\/p>\n
\nAny statements made in this release that do not relate to historical or current facts constitute forward-looking statements. These statements often address NIC\u2019s potential financial performance for the 2021 fiscal year or future fiscal years, estimates, projections, the expected length of contract terms, statements relating to NIC\u2019s business plans, objectives and expected operating results, statements relating to potential new contracts or renewals, statements relating to NIC\u2019s expected effective tax rate, statements relating to the proposed transaction with Tyler Technologies, statements relating to possible future dividends and share repurchases, statements related to the ongoing effects the COVID-19 pandemic is expected to have on NIC\u2019s business and financial results, including statements relating to the duration, profitability and unsatisfied performance obligations of NIC\u2019s services, including NIC\u2019s COVID-19 testing solution, and other possible future events, including potential acquisitions, and the assumptions upon which those statements are based. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. These risks include regional or national business, political, economic, competitive, social and market conditions, including various termination rights of NIC and its partners, the ability of NIC to renew existing contracts \u2013 in whole or in part, and to sign contracts with new federal, state, and local government agencies, the impact of potential information technology, cybersecurity or data security breaches or incidents, NIC\u2019s ability to consummate the proposed transaction with Tyler Technologies, and the effects the COVID-19 pandemic may have on continued demand for and profitability of NIC\u2019s services, including NIC\u2019s COVID-19 testing solution, as well as its government agency partners, its workforce and the broader economy. You should not rely on any forward-looking statement as a prediction or guarantee about the future. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the sections titled “Risk Factors” and “Cautions About Forward-Looking Statements” of NIC\u2019s most recent Forms 10-K and subsequent reports filed with the SEC. These filings are available at the SEC’s website at www.sec.gov<\/a>. Any forward-looking statements included in this release speak only as of the date of this release. Except as may be required by applicable law, NIC undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.\n<\/p>\n
Additional Information and Where to Find It<\/b><\/p>\n
\nThis release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This release may be deemed to be solicitation material in respect of the proposed transaction involving NIC and Tyler Technologies. In connection with the proposed transaction, NIC plans to file a proxy statement with the SEC. STOCKHOLDERS OF NIC ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT NIC WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Stockholders and investors will be able to obtain free copies of the proxy statement and other relevant materials (when they become available) and other documents filed by NIC at the SEC\u2019s website at www.sec.gov<\/a>. Copies of the proxy statement (when they become available) and the filings that will be incorporated by reference therein may also be obtained, without charge, on NIC\u2019s Investor Relations website at https:\/\/ir.egov.com<\/a>.\n<\/p>\n
Participants in Solicitation<\/b><\/p>\n
\nNIC and Tyler Technologies and their respective directors, executive officers and certain employees, may be deemed, under SEC rules, to be participants in the solicitation of proxies in respect of the proposed merger. Information regarding NIC\u2019s directors and executive officers is available in its proxy statement filed with the SEC on March 12, 2020. Information regarding Tyler Technologies\u2019 directors and executive officers is available in its proxy statement filed with the SEC on April 1, 2020. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above.\n<\/p>\n
\n
\n \u00a0<\/td>\n<\/tr>\n \n \n NIC INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONSOLIDATED STATEMENTS OF INCOME AND FINANCIAL SUMMARY<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (In thousands, except per share amounts and percentages)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n Three Months Ended
\n<\/b>
December 31,<\/b><\/p>\n<\/td>\n\n \n\u00a0\n<\/p>\n<\/td>\n
\n Twelve Months Ended
\n<\/b>
December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2020<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2019<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2020<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2019<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nRevenues:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nState enterprise revenues\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n88,030\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n72,301\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n331,720\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n290,281\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSoftware & services revenues\n<\/p>\n<\/td>\n
\n \n \n53,126\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n14,773\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n128,734\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n63,924\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal revenues\n<\/p>\n<\/td>\n
\n \n \n141,156\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n87,074\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n460,454\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n354,205\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating expenses:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nState enterprise cost of revenues, exclusive of depreciation & amortization\n<\/p>\n<\/td>\n
\n \n \n53,947\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n44,610\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n199,901\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n175,490\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSoftware & services cost of revenues, exclusive of depreciation & amortization\n<\/p>\n<\/td>\n
\n \n \n42,475\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n11,541\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n94,833\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n41,636\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling & administrative\n<\/p>\n<\/td>\n
\n \n \n9,354\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n8,727\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n34,551\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n35,200\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEnterprise technology & product support\n<\/p>\n<\/td>\n
\n \n \n7,694\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n6,917\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n29,491\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n26,850\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation & amortization\n<\/p>\n<\/td>\n
\n \n \n3,762\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n3,535\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n14,245\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n12,610\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal operating expenses\n<\/p>\n<\/td>\n
\n \n \n117,232\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n75,330\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n373,021\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n291,786\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating income\n<\/p>\n<\/td>\n
\n \n \n23,924\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n11,744\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n87,433\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n62,419\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther income:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest income\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n604\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n389\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n2,514\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome before income taxes\n<\/p>\n<\/td>\n
\n \n \n23,924\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n12,348\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n87,822\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n64,933\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax provision\n<\/p>\n<\/td>\n
\n \n \n6,080\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n2,390\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n19,228\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n14,503\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n17,844\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n9,958\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n68,594\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n50,430\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBasic net income per share\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n0.26\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n0.15\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n1.01\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n0.75\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted net income per share\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n0.26\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n0.15\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n1.01\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n0.75\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted average shares outstanding:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBasic\n<\/p>\n<\/td>\n
\n \n \n67,030\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n66,967\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n67,010\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n66,884\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted\n<\/p>\n<\/td>\n
\n \n \n67,166\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n66,967\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n67,117\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n66,884\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nKey financial metrics:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal revenue growth\n<\/p>\n<\/td>\n
\n \n \n62\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n11\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n30\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n3\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRecurring revenues as a % of total revenues\n<\/p>\n<\/td>\n
\n \n \n65\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n97\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n80\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n97\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nState enterprise revenue growth (decline)\n<\/p>\n<\/td>\n
\n \n \n22\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n9\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n14\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n(7\n<\/p>\n<\/td>\n
\n \n)%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSame state revenue growth\n<\/p>\n<\/td>\n
\n \n \n22\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n9\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n14\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n10\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGross profit % – state enterprise\n<\/p>\n<\/td>\n
\n \n \n39\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n38\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n40\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n40\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSoftware & services revenue growth\n<\/p>\n<\/td>\n
\n \n \n260\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n19\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n101\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n97\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGross profit % – software & services\n<\/p>\n<\/td>\n
\n \n \n20\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n22\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n26\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n35\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling & administrative as a % of total revenues\n<\/p>\n<\/td>\n
\n \n \n7\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n10\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n8\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n10\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEnterprise technology & product support as a % of total revenues\n<\/p>\n<\/td>\n
\n \n \n5\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n8\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n6\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n8\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating income as a % of total revenues (“operating margin”)\n<\/p>\n<\/td>\n
\n \n \n17\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n13\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n19\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n18\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nState enterprise revenue analysis:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIGS\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n53,466\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n47,160\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n209,902\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n183,987\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDHR\n<\/p>\n<\/td>\n
\n \n \n20,165\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n20,901\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n85,338\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n91,059\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDevelopment services\n<\/p>\n<\/td>\n
\n \n \n13,161\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n3,002\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n31,530\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n10,285\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFixed-fee management services\n<\/p>\n<\/td>\n
\n \n \n1,238\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n1,238\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n4,950\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n4,950\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal state enterprise revenues\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n88,030\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n72,301\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n331,720\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n290,281\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n NIC INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (In thousands, except par value amount)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (Unaudited) <\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n December 31,
\n
2020<\/b><\/p>\n<\/td>\n\n \n\u00a0\n<\/p>\n<\/td>\n
\n December 31,
\n
2019<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n ASSETS<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent assets:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n236,513\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n214,380\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTrade accounts receivable, net\n<\/p>\n<\/td>\n
\n \n \n155,484\n<\/p>\n<\/td>\n
\n \n \n85,399\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses & other current assets\n<\/p>\n<\/td>\n
\n \n \n23,638\n<\/p>\n<\/td>\n
\n \n \n12,944\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets\n<\/p>\n<\/td>\n
\n \n \n415,635\n<\/p>\n<\/td>\n
\n \n \n312,723\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and equipment, net\n<\/p>\n<\/td>\n
\n \n \n9,341\n<\/p>\n<\/td>\n
\n \n \n10,091\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRight of use lease assets, net\n<\/p>\n<\/td>\n
\n \n \n10,809\n<\/p>\n<\/td>\n
\n \n \n10,778\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIntangible assets, net\n<\/p>\n<\/td>\n
\n \n \n20,737\n<\/p>\n<\/td>\n
\n \n \n22,398\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGoodwill\n<\/p>\n<\/td>\n
\n \n \n5,965\n<\/p>\n<\/td>\n
\n \n \n5,965\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther assets\n<\/p>\n<\/td>\n
\n \n \n1,862\n<\/p>\n<\/td>\n
\n \n \n404\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal assets\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n464,349\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n362,359\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent liabilities:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n82,364\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n63,685\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued expenses\n<\/p>\n<\/td>\n
\n \n \n61,064\n<\/p>\n<\/td>\n
\n \n \n25,940\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLease liabilities\n<\/p>\n<\/td>\n
\n \n \n4,078\n<\/p>\n<\/td>\n
\n \n \n3,776\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther current liabilities\n<\/p>\n<\/td>\n
\n \n \n10,491\n<\/p>\n<\/td>\n
\n \n \n7,191\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities\n<\/p>\n<\/td>\n
\n \n \n157,997\n<\/p>\n<\/td>\n
\n \n \n100,592\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred income taxes, net\n<\/p>\n<\/td>\n
\n \n \n1,097\n<\/p>\n<\/td>\n
\n \n \n2,463\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLease liabilities\n<\/p>\n<\/td>\n
\n \n \n7,172\n<\/p>\n<\/td>\n
\n \n \n7,373\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term liabilities\n<\/p>\n<\/td>\n
\n \n \n4,934\n<\/p>\n<\/td>\n
\n \n \n6,003\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities\n<\/p>\n<\/td>\n
\n \n \n171,200\n<\/p>\n<\/td>\n
\n \n \n116,431\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCommitments and contingencies\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStockholders’ equity:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCommon stock, $0.0001 par, 200,000 shares authorized, 67,031 and 66,968 shares issued and outstanding\n<\/p>\n<\/td>\n
\n \n \n7\n<\/p>\n<\/td>\n
\n \n \n7\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdditional paid-in capital\n<\/p>\n<\/td>\n
\n \n \n129,456\n<\/p>\n<\/td>\n
\n \n \n123,208\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRetained earnings\n<\/p>\n<\/td>\n
\n \n \n163,686\n<\/p>\n<\/td>\n
\n \n \n122,713\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal stockholders’ equity\n<\/p>\n<\/td>\n
\n \n \n293,149\n<\/p>\n<\/td>\n
\n \n \n245,928\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities and stockholders’ equity\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n464,349\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n362,359\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n NIC INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (In thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n Twelve Months Ended
\n<\/b>
December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2020<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2019<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash flows from operating activities:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n68,594\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n50,430\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjustments to reconcile net income to net cash provided by operating activities:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation & amortization\n<\/p>\n<\/td>\n
\n \n \n14,245\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n12,610\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nStock-based compensation expense\n<\/p>\n<\/td>\n
\n \n \n7,158\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n6,769\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred income taxes\n<\/p>\n<\/td>\n
\n \n \n(1,483\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n1,682\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision for losses on accounts receivable\n<\/p>\n<\/td>\n
\n \n \n1,505\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n782\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss on disposal of property and equipment\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n89\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChanges in operating assets and liabilities:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTrade accounts receivable, net\n<\/p>\n<\/td>\n
\n \n \n(71,134\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(4,826\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses & other current assets\n<\/p>\n<\/td>\n
\n \n \n(10,694\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n789\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther assets\n<\/p>\n<\/td>\n
\n \n \n2,940\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n4,430\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable\n<\/p>\n<\/td>\n
\n \n \n18,679\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n3,593\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued expenses\n<\/p>\n<\/td>\n
\n \n \n35,124\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n1,788\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther current liabilities\n<\/p>\n<\/td>\n
\n \n \n2,084\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n1,132\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term liabilities\n<\/p>\n<\/td>\n
\n \n \n(4,181\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(7,218\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash provided by operating activities\n<\/p>\n<\/td>\n
\n \n \n62,837\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n72,050\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash flows from investing activities:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCapital expenditures\n<\/p>\n<\/td>\n
\n \n \n(3,354\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(4,253\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCapitalized software development costs\n<\/p>\n<\/td>\n
\n \n \n(8,481\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(8,671\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBusiness combination\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n(10,000\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAsset acquisition\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n(3,486\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash used in investing activities\n<\/p>\n<\/td>\n
\n \n \n(11,835\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(26,410\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash flows from financing activities:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash dividends on common stock\n<\/p>\n<\/td>\n
\n \n \n(24,398\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(21,649\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from employee common stock purchases\n<\/p>\n<\/td>\n
\n \n \n1,509\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n1,443\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShares surrendered upon vesting of restricted stock to satisfy tax withholdings\n<\/p>\n<\/td>\n
\n \n \n(2,036\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(2,754\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRepurchase of shares\n<\/p>\n<\/td>\n
\n \n \n(3,944\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet cash used in financing activities\n<\/p>\n<\/td>\n
\n \n \n(28,869\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(22,960\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet increase in cash\n<\/p>\n<\/td>\n
\n \n \n22,133\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n22,680\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash, beginning of period\n<\/p>\n<\/td>\n
\n \n \n214,380\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n191,700\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash, end of period\n<\/p>\n<\/td>\n
\n \n \n236,513\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n214,380\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther cash flow information:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-cash activities:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nContingent consideration – business combination\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n960\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash payments:\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome taxes paid, net\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n19,649\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n16,035\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n NIC INC.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n RECONCILIATION OF NON-GAAP FINANCIAL MEASURES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (In thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n Three Months Ended
\n<\/b>
December 31,<\/b><\/p>\n<\/td>\n\n \n\u00a0\n<\/p>\n<\/td>\n
\n Twelve Months Ended
\n<\/b>
December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \nReconciliation of net income to Adjusted EBITDA\n<\/p>\n<\/td>\n
\n \n 2020<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2019<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2020<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n 2019<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n17,844\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n9,958\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n68,594\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n50,430\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd: Income tax expense\n<\/p>\n<\/td>\n
\n \n \n6,080\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n2,390\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n19,228\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n14,503\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: Interest income\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n604\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n389\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n2,514\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating income\n<\/p>\n<\/td>\n
\n \n \n23,924\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n11,744\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n87,433\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n62,419\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd: Depreciation & amortization expense\n<\/p>\n<\/td>\n
\n \n \n3,762\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n3,535\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n14,245\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n12,610\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd: Stock-based compensation expense, inclusive of executive severance (1)<\/sup><\/p>\n<\/td>\n
\n \n \n2,102\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n1,543\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n7,158\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n6,769\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd: Executive severance payments (1)<\/sup><\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u2014\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n1,526\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted EBITDA\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n29,788\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n16,822\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n108,836\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n83,324\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal Revenues\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n141,156\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n87,074\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n460,454\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n354,205\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income as a % of total revenues (“net profit margin”)\n<\/p>\n<\/td>\n
\n \n \n13\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n11\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n15\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n14\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted EBITDA as a % of total revenues (“Adjusted EBITDA margin”)\n<\/p>\n<\/td>\n
\n \n \n21\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n19\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n24\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n24\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Detail of stock-based compensation expense<\/span><\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nState enterprise cost of revenues, exclusive of depreciation & amortization\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n418\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n373\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n1,585\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n1,499\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSoftware & services cost of revenues, exclusive of depreciation & amortization\n<\/p>\n<\/td>\n
\n \n \n47\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n26\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n162\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n101\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling & administrative\n<\/p>\n<\/td>\n
\n \n \n1,415\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n972\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n4,599\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n4,495\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEnterprise technology & product support\n<\/p>\n<\/td>\n
\n \n \n222\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n172\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n812\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n674\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal stock-based compensation expense\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n2,102\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n1,543\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n7,158\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n6,769\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
- \nSame state revenues of $329.4 million, a 14% increase.<\/p>\n
- Diluted earnings per share<\/b> of $1.01, a 35% increase.\n
- Total revenues<\/b> of $460.5 million, a 30% increase.\n
- \nSame state revenues of $88.0 million, a 22% increase.<\/p>\n
- Diluted earnings per share<\/b> of 26 cents, a 73% increase.\n
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<\/td>\n<\/tr>\n