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UNAUDITED QUARTERLY OPERATING RESULTS (Tables)
12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of unaudited quarterly operating results
The unaudited quarterly information below is subject to seasonal fluctuations resulting in lower revenues in the fourth quarter of each calendar year due to the lower number of business days in the quarter and a lower volume of business-to-government and citizen-to-government transactions during the holiday periods.
For the Year Ended December 31, 2019
(in thousands, except per share amount)
First QuarterSecond QuarterThird QuarterFourth Quarter
Revenues:
State enterprise revenues$77,255  $82,829  $81,084  $79,532  
Software & services revenues7,925  8,737  9,301  7,542  
Total revenues85,180  91,566  90,385  87,074  
Operating expenses:
State enterprise cost of revenues, exclusive of depreciation & amortization
48,655  52,277  50,408  52,354  
Software & services cost of revenues, exclusive of depreciation & amortization
2,720  3,329  3,586  3,797  
Selling & administrative9,964  8,356  8,153  8,727  
Enterprise technology & product support6,445  6,745  6,743  6,917  
Depreciation & amortization2,421  3,130  3,524  3,535  
Total operating expenses70,205  73,837  72,414  75,330  
Operating income14,975  17,729  17,971  11,744  
Other income:
Interest income604  577  729  604  
Income before income taxes15,579  18,306  18,700  12,348  
Income tax provision 4,077  3,846  4,190  2,390  
Net income$11,502  $14,460  $14,510  $9,958  
Basic net income per share$0.17  $0.21  $0.21  $0.15  
Diluted net income per share$0.17  $0.21  $0.21  $0.15  
Weighted average shares outstanding:
Basic66,670  66,940  66,960  66,967  
Diluted66,670  66,940  66,960  66,967  
For the Year Ended December 31, 2018
(in thousands, except per share amount)First QuarterSecond QuarterThird QuarterFourth Quarter
Revenues:
State enterprise revenues$80,791  $86,555  $80,884  $72,354  
Software & services revenues5,934  5,943  6,144  6,295  
Total revenues86,725  92,498  87,028  78,649  
Operating expenses:
State enterprise cost of revenues, exclusive of depreciation & amortization
48,642  51,711  48,224  46,412  
Software & services cost of revenues, exclusive of depreciation & amortization
2,228  2,235  2,226  2,354  
Selling & administrative7,503  8,268  8,514  8,462  
Enterprise technology & product support5,647  5,735  6,176  6,386  
Depreciation & amortization2,065  2,145  2,441  2,466  
Total operating expenses66,085  70,094  67,581  66,080  
Operating income 20,640  22,404  19,447  12,569  
Other income:
Interest income—  57  153  406  
Income before income taxes20,640  22,461  19,600  12,975  
Income tax provision5,132  5,450  3,698  3,127  
Net income$15,508  $17,011  $15,902  $9,848  
Basic net income per share$0.23  $0.25  $0.24  $0.15  
Diluted net income per share$0.23  $0.25  $0.24  $0.15  
Weighted average shares outstanding:
Basic66,323  66,541  66,562  66,569  
Diluted66,323  66,561  66,598  66,641