Quarterly Financial Data

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data

19. Quarterly Financial Data (unaudited)

	Quarter Ended
	December 31,			September 30,			June 30,			March 31,
(in thousands, except per share amounts)	2012			2012			2012			2012
Revenues:
Software license fees	$	94,731		$	39,560		$	36,645		$	50,910
Maintenance fees		58,862			47,920			49,359			43,735
Services		38,985			35,811			33,888			22,852
Software hosting fees		31,517			31,771			29,905			20,128
Total revenues		224,095			155,062			149,797			137,625
Expenses:
Cost of software license fees (1)		6,968			5,874			5,818			4,932
Cost of maintenance, services and hosting fees (1)		53,502			51,944			55,715			40,891
Research and development		33,586			34,213			35,027			30,933
Selling and marketing		22,730			20,448			23,178			20,698
General and administrative		21,616			24,533			28,236			34,362
Depreciation and amortization		10,158			9,742			9,681			7,422
Total expenses		148,560			146,754			157,655			139,238
Operating income (loss)		75,535			8,308			(7,858	)		(1,613	)
Other income (expense):
Interest income		209			222			234			249
Interest expense		(3,031	)		(2,620	)		(2,875	)		(1,891	)
Other, net		1,298			(1,430	)		(347	)		878
Total other income (expense)		(1,524	)		(3,828	)		(2,988	)		(764	)
Income (loss) before income taxes		74,011			4,480			(10,846	)		(2,377	)
Income tax expense (benefit)		24,347			(1,175	)		(6,195	)		(555	)
Net income (loss)	$	49,664		$	5,655		$	(4,651	)	$	(1,822	)
Earnings (loss) per share
Basic (2)	$	1.26		$	0.14		$	(0.12	)	$	(0.05	)
Diluted (2)	$	1.24		$	0.14		$	(0.12	)	$	(0.05	)

(1) The cost of software license fees excludes charges for depreciation but includes amortization of purchased and developed software for resale. The cost of maintenance, services and hosting fees excludes charges for depreciation.

(2) The sum of the earnings per share by quarter does not agree to the earnings per share for the year ended December 31, 2012 due to rounding.

	Quarter Ended
	December 31,			September 30,			June 30,			March 31,
(in thousands, except per share amounts)	2011			2011			2011			2011
Revenues:
Software license fees	$	60,762		$	39,249		$	46,085		$	43,724
Maintenance fees		39,164			36,928			37,195			35,070
Services		21,956			23,770			18,673			15,371
Software hosting fees		13,155			12,202			11,413			10,378
Total revenues		135,037			112,149			113,366			104,543
Expenses:
Cost of software license fees (1)		4,077			3,763			4,136			3,442
Cost of maintenance, services and hosting fees (1)		27,445			29,996			31,818			29,607
Research and development		20,781			22,481			23,784			23,130
Selling and marketing		20,023			19,814			21,791			19,294
General and administrative		20,191			19,068			15,804			16,362
Depreciation and amortization		5,477			5,759			5,611			5,210
Total expenses		97,994			100,881			102,944			97,045
Operating income		37,043			11,268			10,422			7,498
Other income (expense):
Interest income		676			205			196			238
Interest expense		(1,008	)		(406	)		(374	)		(643	)
Other, net		(714	)		(46	)		260			(302	)
Total other income (expense)		(1,046	)		(247	)		82			(707	)
Income before income taxes		35,997			11,021			10,504			6,791
Income tax expense		12,106			482			704			5,169
Net income	$	23,891		$	10,539		$	9,800		$	1,622
Earnings per share
Basic (2)	$	0.71		$	0.31		$	0.29		$	0.05
Diluted	$	0.70		$	0.31		$	0.29		$	0.05

(1) The cost of software license fees excludes charges for depreciation but includes amortization of purchased and developed software for resale. The cost of maintenance, services and hosting fees excludes charges for depreciation.

(2) The sum of the earnings per share by quarter does not agree to the earnings per share for the year ended December 31, 2011 due to rounding.