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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
May 31, 2019
May 31, 2018
[1]
May 31, 2019
May 31, 2018
[1]
Revenue:        
Total revenue $ 99,995 $ 92,864 $ 189,544 $ 188,274
Costs of revenue:        
Total costs of revenue 17,611 16,643 33,650 33,546
Gross profit 82,384 76,221 155,894 154,728
Operating expenses:        
Sales and marketing 24,832 21,658 47,155 43,086
Product development 21,688 19,822 41,578 40,067
General and administrative 12,654 12,190 24,939 23,452
Amortization of acquired intangibles 4,585 3,318 7,773 6,637
Fees related to shareholder activist 0 214 0 1,472
Restructuring expenses 2,777 426 3,192 2,247
Acquisition-related expenses 1,107 43 1,107 86
Total operating expenses 67,643 57,671 125,744 117,047
Income from operations 14,741 18,550 30,150 37,681
Other (expense) income:        
Interest expense (2,210) (1,272) (3,599) (2,437)
Interest income and other, net 344 231 573 639
Foreign currency loss, net (451) (243) (1,294) (1,071)
Total other expense, net (2,317) (1,284) (4,320) (2,869)
Income before income taxes 12,424 17,266 25,830 34,812
Provision for income taxes 4,243 4,362 8,247 8,175
Net income $ 8,181 $ 12,904 $ 17,583 $ 26,637
Earnings per share:        
Basic (in dollars per share) $ 0.18 $ 0.28 $ 0.39 $ 0.58
Diluted (in dollars per share) $ 0.18 $ 0.28 $ 0.39 $ 0.57
Weighted average shares outstanding:        
Basic (in shares) 44,611 45,531 44,784 46,030
Diluted (in shares) 45,287 46,087 45,287 46,781
Cash dividends declared per common share (in dollars per share) $ 0.155 $ 0.140 $ 0.310 $ 0.280
Software licenses        
Revenue:        
Total revenue $ 29,728 $ 22,526 $ 52,530 $ 48,580
Costs of revenue:        
Total costs of revenue 925 1,233 2,092 2,494
Maintenance and services        
Revenue:        
Total revenue 70,267 70,338 137,014 139,694
Costs of revenue:        
Total costs of revenue 10,580 9,511 20,019 19,335
Amortization of acquired intangibles        
Costs of revenue:        
Total costs of revenue $ 6,106 $ 5,899 $ 11,539 $ 11,717
[1] The Company adopted ASC 606 effective December 1, 2018 using the full retrospective method. See Note 1. Nature of Business and Basis of Presentation for further information.