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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
Recurring $ 72,492 $ 47,820 $ 161,396 $ 102,171
Implementation and other 1,388 1,153 2,610 2,024
Total revenues 73,880 48,973 164,006 104,195
Cost of revenues        
Operating expenses 10,479 7,134 21,264 14,605
Depreciation and amortization 1,386 887 2,572 1,697
Total cost of revenues 11,865 8,021 23,836 16,302
Administrative expenses        
Sales and marketing 24,766 16,741 53,428 37,970
Research and development 4,202 1,907 8,062 3,774
General and administrative 15,220 10,096 30,426 22,080
Depreciation and amortization 1,823 1,400 3,546 2,723
Total administrative expenses 46,011 30,144 95,462 66,547
Total operating expenses 57,876 38,165 119,298 82,849
Operating income 16,004 10,808 44,708 21,346
Interest expense (170) (392) (481) (724)
Other income, net 116 19 150 52
Income before income taxes 15,950 10,435 44,377 20,674
Provision for income taxes 5,529 4,489 15,368 8,733
Net income $ 10,421 $ 5,946 $ 29,009 $ 11,941
Earnings per share, basic $ 0.18 $ 0.10 $ 0.50 $ 0.21
Earnings per share, diluted $ 0.18 $ 0.10 $ 0.49 $ 0.21
Weighted average shares outstanding:        
Basic 57,591,556 57,038,021 57,362,232 55,900,306
Diluted 58,697,229 58,369,083 58,707,213 57,469,918