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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Recurring $ 96,351 $ 72,492 $ 214,265 $ 161,396
Implementation and other 1,876 1,388 3,470 2,610
Total revenues 98,227 73,880 217,735 164,006
Cost of revenues        
Operating expenses 15,609 10,479 30,695 21,264
Depreciation and amortization 2,267 1,386 4,327 2,572
Total cost of revenues 17,876 11,865 35,022 23,836
Administrative expenses        
Sales and marketing 34,070 24,766 70,918 53,428
Research and development 8,095 4,202 14,892 8,062
General and administrative 26,657 15,220 44,483 30,426
Depreciation and amortization 2,440 1,823 4,666 3,546
Total administrative expenses 71,262 46,011 134,959 95,462
Total operating expenses 89,138 57,876 169,981 119,298
Operating income 9,089 16,004 47,754 44,708
Interest expense (281) (170) (538) (481)
Other income, net 149 116 244 150
Income before income taxes 8,957 15,950 47,460 44,377
Provision for income taxes (5,264) 5,529 7,625 15,368
Net income $ 14,221 $ 10,421 $ 39,835 $ 29,009
Earnings per share, basic $ 0.24 $ 0.18 $ 0.69 $ 0.50
Earnings per share, diluted $ 0.24 $ 0.18 $ 0.67 $ 0.49
Weighted average shares outstanding:        
Basic 57,898,914 57,591,556 57,623,107 57,362,232
Diluted 58,816,442 58,697,229 58,817,181 58,707,213