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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues    
Recurring $ 117,914 $ 88,904
Implementation and other 1,594 1,222
Total revenues 119,508 90,126
Cost of revenues    
Operating expenses 15,086 10,785
Depreciation and amortization 2,060 1,186
Total cost of revenues 17,146 11,971
Administrative expenses    
Sales and marketing 36,848 28,662
Research and development 6,797 3,860
General and administrative 17,826 15,206
Depreciation and amortization 2,226 1,723
Total administrative expenses 63,697 49,451
Total operating expenses 80,843 61,422
Operating income 38,665 28,704
Interest expense (257) (311)
Other income, net 95 34
Income before income taxes 38,503 28,427
Provision for income taxes 12,889 9,839
Net income $ 25,614 $ 18,588
Earnings per share, basic $ 0.44 $ 0.32
Earnings per share, diluted $ 0.43 $ 0.31
Weighted average shares outstanding:    
Basic 57,307,187 57,132,909
Diluted 58,525,980 58,362,040