Reis 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 01, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	REIS
Entity Registrant Name	Reis, Inc.
Entity Central Index Key	1,038,222
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,301,829

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 25,160,643	$ 28,657,956
Restricted cash and investments	212,268	212,268
Accounts receivable, net	7,117,259	13,741,169
Prepaid and other assets	1,142,216	670,339
Total current assets	33,632,386	43,281,732
Furniture, fixtures and equipment, net of accumulated depreciation of $2,801,758 and $2,449,985, respectively	2,891,722	804,427
Intangible assets, net of accumulated amortization of $43,048,635 and $38,738,292, respectively	17,594,474	15,686,954
Deferred tax asset, net	17,001,737	18,429,737
Goodwill	54,824,648	54,824,648
Other assets	312,459	171,728
Total assets	126,257,426	133,199,226
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	3,320,998	5,898,226
Deferred revenue	22,094,152	25,291,499
Liabilities attributable to discontinued operations	0	145,737
Total current liabilities	25,415,150	31,335,462
Other long-term liabilities	1,216,001	284,316
Total liabilities	26,631,151	31,619,778
Commitments and contingencies
Stockholders' equity:
Common stock, $0.02 par value per share, 101,000,000 shares authorized, 11,308,199 and 11,256,405 shares issued and outstanding, respectively	226,164	225,128
Additional paid in capital	107,950,972	107,102,433
Retained earnings (deficit)	(8,550,861)	(5,748,113)
Total stockholders' equity	99,626,275	101,579,448
Total liabilities and stockholders' equity	$ 126,257,426	$ 133,199,226

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accumulated depreciation of furniture, fixtures and equipment	$ 2,801,758	$ 2,449,985
Accumulated amortization of intangible assets	$ 43,048,635	$ 38,738,292
Common stock, par value	$ 0.02	$ 0.02
Common stock, shares authorized	101,000,000	101,000,000
Common stock, shares issued	11,308,199	11,256,405
Common stock, shares outstanding	11,308,199	11,256,405

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended							9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Subscription revenue	$ 11,537,175				$ 12,137,228			$ 35,975,597	$ 36,684,041
Cost of sales of subscription revenue	2,925,212				2,363,635			7,881,536	6,683,601
Gross profit	8,611,963				9,773,593			28,094,061	30,000,440
Operating expenses:
Sales and marketing	2,890,739				2,804,498			8,583,395	8,918,285
Product development	1,001,072				925,673			3,021,726	2,678,114
General and administrative expenses	3,933,992				3,598,697			11,555,444	10,301,919
Total operating expenses	7,825,803				7,328,868			23,160,565	21,898,318
Other income (expenses):
Interest and other income	5,214				11,300			19,380	26,894
Interest expense	(28,709)				(28,352)			(78,250)	(84,848)
Total other income (expenses)	(23,495)				(17,052)			(58,870)	(57,954)
Income before income taxes and discontinued operations	762,665				2,427,673			4,874,626	8,044,168
Income tax expense	297,000				920,000			1,864,000	2,315,000
Income from continuing operations	465,665				1,507,673			3,010,626	5,729,168
Income from discontinued operations, net of income tax expense of $-, $89,000, $- and $797,000, respectively	0				136,753			0	1,203,833
Net income	$ 465,665				$ 1,644,426			$ 3,010,626	$ 6,933,001
Per share amounts - basic:
Income from continuing operations	$ 0.04				$ 0.13			$ 0.27	$ 0.51
Net income	0.04				0.15			0.27	0.62
Per share amounts - diluted:
Income from continuing operations	0.04				0.13			0.26	0.49
Net income	$ 0.04				$ 0.14			$ 0.26	$ 0.59
Weighted average number of common shares outstanding:
Basic	11,320,904				11,236,188			11,308,833	11,218,759
Diluted	11,764,210				11,721,200			11,745,499	11,693,448
Dividends declared per common share	$ 0.17	$ 0.17	$ 0.17	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.51	$ 0.42

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Income tax expense on discontinued operations	$ 0	$ 89,000	$ 0	$ 797,000

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - 9 months ended Sep. 30, 2016 - USD ($)	Total	Common Stock	Additional Paid in Capital	Retained Earnings (Deficit)
Balance at Dec. 31, 2015	$ 101,579,448	$ 225,128	$ 107,102,433	$ (5,748,113)
Balance, shares at Dec. 31, 2015		11,256,405
Shares issued for vested employee restricted stock units		$ 1,048	(1,048)
Shares issued for vested employees restricted stock units, shares		52,421
Shares issued for option exercises	$ 153,000	$ 350	152,650
Shares issued for option exercises, shares	17,500	17,500
Stock based compensation, net	$ 1,054,566		1,054,566
Dividends	(5,813,374)			(5,813,374)
Stock repurchases	$ (357,991)	$ (362)	(357,629)
Stock repurchases, shares	(18,127)	(18,127)
Net income	$ 3,010,626			3,010,626
Balance at Sep. 30, 2016	$ 99,626,275	$ 226,164	$ 107,950,972	$ (8,550,861)
Balance, shares at Sep. 30, 2016		11,308,199

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,010,626	$ 6,933,001
Adjustments to reconcile to net cash provided by operating activities:
Deferred tax provision	1,604,000	2,802,000
Depreciation	415,812	321,641
Amortization of intangible assets	4,310,343	3,790,118
Stock based compensation charges	1,579,725	1,338,049
Changes in assets and liabilities:
Restricted cash and investments	0	357
Accounts receivable, net	6,623,910	4,111,676
Prepaid and other assets	(432,056)	(454,494)
Accrued expenses and other liabilities	(1,480,046)	(275,351)
Deferred revenue	(3,197,347)	(724,837)
Net cash provided by operating activities	12,434,967	17,842,160
CASH FLOWS FROM INVESTING ACTIVITIES:
Website and database development additions	(6,567,863)	(3,754,928)
Furniture, fixtures and equipment additions	(2,466,432)	(247,184)
Proceeds from sale of furniture, fixtures and equipment	2,091	0
Net cash (used in) investing activities	(9,032,204)	(4,002,112)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends	(5,813,374)	(4,750,410)
Registration statement costs	0	(89,331)
Proceeds from option exercises	153,000	206,250
Payments for option cancellations and restricted stock units	(701,159)	(992,971)
Payment of financing cost	(180,552)	0
Stock repurchases	(357,991)	0
Net cash (used in) financing activities	(6,900,076)	(5,626,462)
Net (decrease) increase in cash and cash equivalents	(3,497,313)	8,213,586
Cash and cash equivalents, beginning of period	28,657,956	17,745,077
Cash and cash equivalents, end of period	25,160,643	25,958,663
SUPPLEMENTAL INFORMATION:
Cash paid during the period for interest	29,722	18,958
Cash paid during the period for income taxes	635,692	447,483
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Accrual for website and database development additions		700,000
Accrual for furniture, fixtures and equipment additions	38,766
Disposal of fully depreciated furniture, fixtures and equipment	64,039	96,302
Shares issued for vested employee restricted stock units	$ 1,048	$ 1,297

Organization and Business

Organization and Business	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	1. Organization and Business Reis, Inc. is a Maryland corporation. When we refer to “Reis” or the “Company,” we are referring to Reis, Inc. and its consolidated subsidiaries. The Company provides commercial real estate market information and analytical tools to real estate professionals, through its Reis Services subsidiary. For disclosure and financial reporting purposes, this business is referred to as the Reis Services segment. Reis Services Reis Services, including its predecessors, was founded in 1980. Reis maintains a proprietary database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the U.S. The database contains information on apartment, office, retail, warehouse/distribution, flex/research & development, self storage, seniors housing, student housing and affordable housing properties, and is used by real estate investors, lenders and other professionals to make informed buying, selling and financing decisions. In addition, Reis data is used by debt and equity investors to assess, quantify and manage the risks of default and loss associated with individual mortgages, properties, portfolios and real estate backed securities. Reis currently provides its information services to many of the nation’s leading lending institutions, equity investors, brokers and appraisers. The Company’s product portfolio features: Reis SE ReisReports Reis Portfolio CRE , Discontinued Operations – Residential Development Activities Prior to May 2007, the name of the Company was Wellsford Real Properties, Inc. (“Wellsford”). Wellsford, which was originally formed on January 8, 1997, acquired the Reis Services business by merger in May 2007 (the “Merger”). Wellsford’s primary operating activities immediately prior to the Merger, and conducted through its subsidiaries, were the development, construction and sale of three residential projects and its approximate 23% ownership interest in the Reis Services business. The Company completed the sale of the remaining residential units and homes at its projects or divested of the remaining residential projects in bulk sales by April 2011. In 2012, the Company settled construction defect litigation at its Colorado project and in 2015, finalized its efforts to recover funds from other responsible parties involved in the design, development, construction and supervision of the Colorado project as more fully described in Note 3.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned and controlled subsidiaries. Investments in entities where the Company does not have a controlling interest are accounted for under the equity method of accounting. These investments were initially recorded at cost and were subsequently adjusted for the Company’s proportionate share of the investment’s income (loss) and additional contributions or distributions. All inter-company accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation. Quarterly Reporting The accompanying consolidated financial statements and notes of the Company have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared under Generally Accepted Accounting Principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules. In the opinion of management, all adjustments considered necessary for a fair presentation of the Company’s balance sheets, statements of operations, statement of changes in stockholders’ equity and statements of cash flows have been included and are of a normal and recurring nature. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2015, as filed with the SEC on March 3, 2016. The consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 and the consolidated statements of cash flows for the nine months ended September 30, 2016 and 2015 are not necessarily indicative of full year results. Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. From time to time, the Company has been, is or may in the future be a defendant in various legal actions arising in the normal course of business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. The outcome of any litigation is uncertain; it is possible that a judgment in any legal actions to which the Company is a party, or which are proposed or threatened, will have a material adverse effect on the consolidated financial statements. See Note 10. New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810), Amendments to the Consolidation Analysis In February 2016, the FASB issued ASU 2016-02, Leases within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the impact the pending adoption of ASU 2016-02 will have on its consolidated financial statements and disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation Reclassification Amounts in certain accounts as presented in the condensed balance sheet data and condensed operating data in Note 3 have been reclassified to conform to the current period presentation.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	3. Segment Information The Company is organized into separately managed segments as follows: the Reis Services segment and the Other segment. The following tables present condensed balance sheet and operating data for these segments: (amounts in thousands) Condensed Balance Sheet Data September 30, 2016 Reis Services Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 22,782 $ 2,379 $ 25,161 Restricted cash and investments 212 — 212 Accounts receivable, net 7,117 — 7,117 Prepaid and other assets 878 264 1,142 Total current assets 30,989 2,643 33,632 Furniture, fixtures and equipment, net 2,892 — 2,892 Intangible assets, net 17,594 — 17,594 Deferred tax asset, net 285 16,717 17,002 Goodwill 57,203 (2,378) 54,825 Other assets 312 — 312 Total assets $ 109,275 $ 16,982 $ 126,257 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 3,012 309 3,321 Deferred revenue 22,094 — 22,094 Total current liabilities 25,106 309 25,415 Other long-term liabilities 1,216 — 1,216 Deferred tax liability, net 32,585 (32,585) — Total liabilities 58,907 (32,276) 26,631 Total stockholders’ equity 50,368 49,258 99,626 Total liabilities and stockholders’ equity $ 109,275 $ 16,982 $ 126,257 Condensed Balance Sheet Data December 31, 2015 Reis Services Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 28,465 $ 193 $ 28,658 Restricted cash and investments 212 — 212 Accounts receivable, net 13,741 — 13,741 Prepaid and other assets 417 253 670 Total current assets 42,835 446 43,281 Furniture, fixtures and equipment, net 798 6 804 Intangible assets, net 15,687 — 15,687 Deferred tax asset, net 285 18,145 18,430 Goodwill 57,203 (2,378) 54,825 Other assets 172 — 172 Total assets $ 116,980 $ 16,219 $ 133,199 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 4,502 1,397 5,899 Deferred revenue 25,291 — 25,291 Liabilities attributable to discontinued operations — 146 146 Total current liabilities 29,793 1,543 31,336 Other long-term liabilities 284 — 284 Deferred tax liability, net 29,498 (29,498) — Total liabilities 59,575 (27,955) 31,620 Total stockholders’ equity 57,405 44,174 101,579 Total liabilities and stockholders’ equity $ 116,980 $ 16,219 $ 133,199 (A) Includes the assets and liabilities of the Company’s discontinued operations, to the extent that such assets and liabilities existed at the date presented, and includes cash, other assets and liabilities not specifically attributable to or allocable to the Reis Services segment. (amounts in thousands) Condensed Operating Data for the Three Months Ended September 30, 2016 Reis Services Other (A) Consolidated Subscription revenue $ 11,538 $ — $ 11,538 Cost of sales of subscription revenue 2,926 — 2,926 Gross profit 8,612 — 8,612 Operating expenses: Sales and marketing 2,890 — 2,890 Product development 1,001 — 1,001 General and administrative expenses 3,005 929 3,934 Total operating expenses 6,896 929 7,825 Other income (expenses): Interest and other income 5 — 5 Interest expense (29) — (29) Total other income (expenses) (24) — (24) Income (loss) before income taxes and discontinued operations $ 1,692 $ (929) $ 763 Income from discontinued operations, before income taxes $ — $ — $ — Condensed Operating Data for the Three Months Ended September 30, 2015 Reis Services Other (A) Consolidated Subscription revenue $ 12,137 $ — $ 12,137 Cost of sales of subscription revenue 2,364 — 2,364 Gross profit 9,773 — 9,773 Operating expenses: Sales and marketing 2,804 — 2,804 Product development 926 — 926 General and administrative expenses 2,528 1,070 3,598 Total operating expenses 6,258 1,070 7,328 Other income (expenses): Interest and other income 11 — 11 Interest expense (28) — (28) Total other income (expenses) (17) — (17) Income (loss) before income taxes and discontinued operations $ 3,498 $ (1,070) $ 2,428 Income from discontinued operations, before income taxes $ — $ 226 $ 226 (A) Includes the results of the Company’s discontinued operations, to the extent that such operations existed during the periods presented, and includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment. (amounts in thousands) Condensed Operating Data for the Nine Months Ended September 30, 2016 Reis Services Other (A) Consolidated Subscription revenue $ 35,976 $ — $ 35,976 Cost of sales of subscription revenue 7,882 — 7,882 Gross profit 28,094 — 28,094 Operating expenses: Sales and marketing 8,583 — 8,583 Product development 3,022 — 3,022 General and administrative expenses 8,336 3,219 11,555 Total operating expenses 19,941 3,219 23,160 Other income (expenses): Interest and other income 19 — 19 Interest expense (78) — (78) Total other income (expenses) (59) — (59) Income (loss) before income taxes and discontinued operations $ 8,094 $ (3,219) $ 4,875 Income from discontinued operations, before income taxes $ — $ — $ — Condensed Operating Data for the Nine Months Ended September 30, 2015 Reis Services Other (A) Consolidated Subscription revenue $ 36,684 $ — $ 36,684 Cost of sales of subscription revenue 6,684 — 6,684 Gross profit 30,000 — 30,000 Operating expenses: Sales and marketing 8,918 — 8,918 Product development 2,678 — 2,678 General and administrative expenses 6,912 3,390 10,302 Total operating expenses 18,508 3,390 21,898 Other income (expenses): Interest and other income 26 — 26 Interest expense (84) — (84) Total other income (expenses) (58) — (58) Income (loss) before income taxes and discontinued operations $ 11,434 $ (3,390) $ 8,044 Income from discontinued operations, before income taxes $ — $ 2,001 $ 2,001 (A) Includes the results of the Company’s discontinued operations, to the extent that such operations existed during the periods presented, and includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment. In the first quarter of 2016, the Company changed the segment presentation to combine the discontinued operations segment with the Other segment. The reason for this change in presentation is the result of the completion of the discontinued operating activities in 2015 and to simplify the presentation on a comparable basis. Therefore, 2015 information for the discontinued operations segment is being presented in the Other segment. Reis Services See Note 1 for a description of Reis Services’s business and products at September 30, 2016. The Company’s largest individual subscriber accounted for 6.9% and 9.2% of Reis Services’s revenue for the nine months ended September 30, 2016 and 2015, respectively. The following table presents the accounts receivable balances of Reis Services at September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Accounts receivable $ 7,273,000 $ 13,828,000 Allowance for doubtful accounts (156,000) (87,000) Accounts receivable, net $ 7,117,000 $ 13,741,000 Twenty subscribers accounted for an aggregate of approximately 59.0% of Reis Services’s accounts receivable at September 30, 2016, with the largest representing 9.8%. Through October 31, 2016, the Company received payments of approximately $3,365,000, or 46.26%, against the September 30, 2016 accounts receivable balance. At September 30, 2016, the largest individual subscriber accounted for 5.7% of deferred revenue. Discontinued Operations – Residential Development Activities Income from discontinued operations was comprised of the following for the three and nine months ended September 30, 2015 (there were no discontinued operations activities for the three or nine months ended September 30, 2016): For the Three Months Ended September 30, 2015 For the Nine Months Ended September 30, 2015 Litigation recoveries $ 414,000 $ 2,764,000 Other (expense), net (188,000) (763,000) Income from discontinued operations before income tax 226,000 2,001,000 Income tax expense from discontinued operations 89,000 797,000 Income from discontinued operations, net of income tax expense $ 137,000 $ 1,204,000 In September 2009, the Company sold the final unit at Gold Peak, the final phase of Palomino Park, a five phase multifamily residential development in Highlands Ranch, Colorado. Gold Peak was a 259-unit condominium project on the remaining 29 acre land parcel at Palomino Park. On March 13, 2012, in connection with litigation regarding construction defects at the Gold Peak project, a jury rendered its verdict whereby Reis, one of its subsidiaries (Gold Peak at Palomino Park LLC, the developer of the project (“GP LLC”)), and the construction manager/general contractor for the project (Tri-Star Construction West, LLC (“Tri-Star”)) were found jointly and severally liable for an aggregate of $18,200,000, plus other costs of approximately $756,000. On June 20, 2012, following denial of all of the defendants’ post-trial motions, Reis and its subsidiaries reached a settlement with the plaintiff, the Gold Peak Homeowners Association, (“GP HOA”) providing for a total payment of $17,000,000. Of this amount, $5,000,000 was paid on August 3, 2012 and the remaining $12,000,000 was paid on October 15, 2012, in accordance with the settlement terms. Subsequent to that date, the Company began recovery efforts against other responsible parties involved in the design, development, construction and supervision of the Gold Peak project. As of December 31, 2015, the Company entered into the final settlement agreement related to its Gold Peak recovery efforts, bringing closure to this process. In summary, recovery efforts from the fourth quarter of 2012 through December 31, 2015 have resulted in cash collections aggregating approximately $5,658,000 from multiple insurance carriers, trial attorneys, an insurance broker and other responsible parties involved in the design, development, construction and supervision of the Gold Peak project. The Company recovered approximately $414,000 and $2,764,000 in the three and nine months ended September 30, 2015. Other expenses in these periods primarily reflect legal and other professional costs incurred related to the Gold Peak litigation recovery efforts.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	4. Intangible Assets The amount of identified intangible assets, including the respective amounts of accumulated amortization, are as follows: September 30, 2016 December 31, 2015 Database $ 26,849,000 $ 22,790,000 Accumulated amortization (19,152,000) (17,121,000) Database, net 7,697,000 5,669,000 Customer relationships 14,100,000 14,100,000 Accumulated amortization (9,030,000) (8,328,000) Customer relationships, net 5,070,000 5,772,000 Website 16,893,000 14,735,000 Accumulated amortization (12,066,000) (10,669,000) Website, net 4,827,000 4,066,000 Acquired below market lease 2,800,000 2,800,000 Accumulated amortization (2,800,000) (2,620,000) Acquired below market lease, net — 180,000 Intangibles, net $ 17,594,000 $ 15,687,000 With respect to the database intangible asset, the Company capitalized approximately $1,338,000 and $887,000 during the three months ended September 30, 2016 and 2015, respectively, and approximately $4,059,000 and $2,201,000 during the nine months ended September 30, 2016 and 2015, respectively. Separately, for the website intangible asset, the Company capitalized approximately $768,000 and $1,243,000 during the three months ended September 30, 2016 and 2015, respectively, and approximately $2,158,000 and $2,254,000 during the nine months ended September 30, 2016 and 2015, respectively. Amortization expense for intangible assets aggregated approximately $1,498,000 and $4,310,000 for the three and nine months ended September 30, 2016, of which approximately $761,000 and $2,031,000 related to the database, which is charged to cost of sales, approximately $233,000 and $702,000 related to customer relationships, which is charged to sales and marketing expense, approximately $475,000 and $1,397,000 related to website development, which is charged to product development expense, and approximately $29,000 and $180,000 related to the value ascribed to the below market terms of the office lease, which is charged to general and administrative expense, all in the Reis Services segment. Amortization expense for intangible assets aggregated approximately $1,289,000 and $3,790,000 for the three and nine months ended September 30, 2015, of which approximately $541,000 and $1,530,000 related to the database, approximately $237,000 and $713,000 related to customer relationships, approximately $436,000 and $1,320,000 related to website development, and approximately $75,000 and $227,000 related to the value ascribed to the below market terms of the office lease.

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	5. Debt The Company had no debt outstanding at September 30, 2016 and December 31, 2015. In October 2012, Reis Services, as borrower, and the Company, as guarantor, entered into a loan and security agreement with Capital One, National Association, as lender (“Capital One”), for a $10,000,000 revolving credit facility (the “2012 Revolver”). The 2012 Revolver had a three year term scheduled to expire on October 16, 2015; however, the expiration date was extended to January 31, 2016. On January 28, 2016, Reis Services and Capital One executed an amended and restated loan and security agreement for a $20,000,000 revolving credit facility with terms substantially similar to the 2012 Revolver (the “2016 Revolver,” and collectively with the 2012 Revolver, the “Revolver”). The 2016 Revolver expires on January 28, 2019. Any borrowings on the Revolver bear interest at a rate of LIBOR + 2.00% per annum (for LIBOR loans) or the greater of 1.00% or the bank’s prime rate minus 0.50% per annum (for base rate loans). Capital One charges an unused facility fee of 0.25% per annum. The Revolver is secured by a security interest in substantially all of the tangible and intangible assets of Reis Services, all copyrights of the Company and a pledge by the Company of its membership interests in Reis Services. The Revolver also contains customary affirmative and negative covenants, including minimum financial covenants, as defined in the amended and restated revolving loan credit agreement; all of the covenants were met at September 30, 2016 and December 31, 2015. No borrowings were made on the Revolver during the three and nine months ended September 30, 2016 and during the year ended December 31, 2015.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes The components of income tax expense (benefit) are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 Current Federal alternative minimum tax (“AMT”) expense $ 8,000 $ 56,000 $ 149,000 $ 175,000 Current state and local tax expense (benefit) (49,000) 39,000 111,000 135,000 Deferred Federal tax expense (A) 245,000 836,000 1,490,000 3,196,000 Deferred state and local tax expense (benefit) 93,000 78,000 114,000 (394,000) Consolidated income tax expense, including taxes attributable to discontinued operations (B) 297,000 1,009,000 1,864,000 3,112,000 Less income tax expense attributable to discontinued operations — 89,000 — 797,000 Income tax expense (C) $ 297,000 $ 920,000 $ 1,864,000 $ 2,315,000 (A) Includes an AMT (benefit) of $(8,000) and $(56,000) in the three months ended September 30, 2016 and 2015, respectively, and $(149,000) and $(175,000) in the nine months ended September 30, 2016 and 2015, respectively. (B) Includes income tax expense attributable to income from discontinued operations. (C) Reflects the tax expense from continuing operations as reported on the consolidated statements of operations for the periods presented. During March 2014, New York State enacted a law to (1) reduce corporate tax rates, effective in future years and (2) change the method of determining the availability and use of NOLs existing at December 31, 2014. In April 2015, New York City enacted a law which substantially conforms with the New York State changes. As a consequence, the Company evaluated all elements affecting the balance of its net deferred tax assets in the respective periods, including the availability of New York State and New York City NOL carryforwards. Due to the amount of its NOL and credit carryforwards, the Company does not anticipate paying Federal income taxes for a number of years. The Company expects, in the future, that it will be subject to cash payments for Federal AMT and for a portion of its state and local income taxes as the changed New York State and New York City laws limit the amount of existing NOLs which could be used each year. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The net deferred tax asset was approximately $17,002,000 and $18,430,000 at September 30, 2016 and December 31, 2015, respectively, all of which was classified as non-current in accordance with ASU 2015-17. The significant portion of the deferred tax items relates to deferred tax assets including NOL carryforwards, Federal AMT credit carryforwards and stock based compensation, with the remainder of the deferred tax items relating to liabilities resulting from the intangible assets recorded at the time of the Merger. The Company had Federal NOL carryforwards aggregating approximately $45,884,000 at December 31, 2015, as well as significant state and local NOL carryforwards. These NOLs included amounts generated subsequent to the Merger (including a substantial NOL realized during the year ended December 31, 2012 as a result of the Gold Peak litigation settlement, discussed in Note 3), losses from the Reis Services business prior to the Merger and the Company’s operating losses prior to the Merger. Approximately $13,166,000 of these Federal NOLs are subject to an annual Internal Revenue Code Section 382 limitation of $2,779,000, whereas the remaining balance of approximately $32,718,000 is not subject to the limitation. The enactment of the 2014 New York State law and the 2015 New York City law discussed above limit the amount of existing NOLs which could be used each year in those jurisdictions; however, all such NOLs are expected to be fully utilized in the future.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Stockholders' Equity	7. Stockholders’ Equity On August 30, 2016, the Company’s Board of Directors authorized a repurchase program of shares of the Company’s common stock up to an aggregate of $5,000,000. Purchases under the program may be made from time to time in the open market or through privately negotiated transactions. Depending on market conditions, financial developments and other factors, these purchases may be commenced or suspended at any time, or from time to time, without prior notice and may be expanded without prior notice. The Company may make purchases pursuant to a trading plan under Securities Exchange Act Rule 10b5-1, permitting open market purchases of common stock during blackout periods. During both the three and nine months ended September 30, 2016, the Company purchased an aggregate of 18,127 shares of common stock, at an average price of $19.75 per share, leaving approximately $4,642,000 at September 30, 2016 that may be used to purchase additional shares under the repurchase program. During the year ended December 31, 2015, the Company did not repurchase any shares of its common stock. The Company declared and paid a quarterly dividend of $0.14 per common share for all four quarters of 2015 and increased the dividend declared and paid in the first, second and third quarters of 2016 to $0.17 per common share. Dividends paid by the Company aggregated approximately $1,937,000 and $5,813,000 in the three and nine months ended September 30, 2016, respectively, and $1,585,000 and $4,750,000 for the three and nine months ended September 30, 2015, respectively.

Stock Plans and Other Incentive

Stock Plans and Other Incentives	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Plans and Other Incentives	8. Stock Plans and Other Incentives The Company has adopted certain incentive plans for the purpose of attracting and retaining the Company’s directors, officers and employees by having the ability to issue options, restricted stock units (“RSUs”), or stock awards. Awards granted under the Company’s incentive plans expire ten years from the date of grant and vest over periods ranging generally from three to five years for employees. Option Awards The following table presents option activity and other plan data for the nine months ended September 30, 2016 and 2015: For the Nine Months Ended September 30, 2016 2015 Options Weighted- Options Weighted- Average Outstanding at beginning of period 547,500 $ 9.61 582,500 $ 9.52 Granted — $ — — $ — Exercised (17,500) $ (8.74) (27,500) $ (7.50) Forfeited/cancelled/expired — $ — — $ — Outstanding at end of period 530,000 $ 9.64 555,000 $ 9.63 Options exercisable at end of period 518,000 $ 9.44 539,000 $ 9.36 RSU Awards The following table presents the changes in RSUs outstanding for the nine months ended September 30, 2016 and 2015: For the Nine Months Ended September 30, 2016 2015 Outstanding at beginning of period 254,041 277,973 Granted 123,023 81,620 Common stock delivered (A) (B) (85,181) (105,970) Forfeited (4,451) (1,103) Outstanding at end of period 287,432 252,520 Intrinsic value (C) $ 5,880,859 $ 5,719,578 (A) The 2016 period includes 32,760 shares which were used to settle minimum employee withholding tax obligations for 29 employees of approximately $701,000 in 2016. A net of 52,421 shares of common stock were delivered in 2016. (B) The 2015 period includes 41,136 shares which were used to settle minimum employee withholding tax obligations for 28 employees of approximately $993,000 in 2015. A net of 64,834 shares of common stock were delivered in 2015. (C) For purposes of this calculation, the Company’s closing stock prices were $20.46 and $22.65 per share on September 30, 2016 and 2015, respectively. In the nine months ended September 30, 2016, an aggregate of 118,724 RSUs were granted to employees, which RSUs vest one-third a year over three years and had a weighted average grant date fair value of $20.22 per RSU. In the nine months ended September 30, 2015, an aggregate of 77,405 RSUs were granted to employees, which RSUs vest one-third a year over three years and had an average grant date fair value of $22.41 per RSU. In each case, the grant date fair value was determined based on the closing stock price of the Company’s common stock on the applicable date of grant and considers the impact of dividend payments. The awards granted to employees in 2016 and 2015 are treated as equity awards and the grant date fair value is charged to compensation expense at the corporate level on a straight-line basis over the vesting periods. Dividends are not paid or accrued on unvested employee RSUs. During the nine months ended September 30, 2016 and 2015, an aggregate of 4,299 RSUs and 4,215 RSUs, respectively, were granted to non-employee directors (with an average grant date fair value of $24.05 and $24.53 per RSU, respectively) related to the equity component of their compensation. In each case, the grant date fair value was determined as of the last trading day of the quarter for which the RSUs were being received as compensation. The RSUs are immediately vested, but are not deliverable to the non-employee directors until six months after termination of their service as a director. Dividends are paid on RSUs granted to non-employee directors. Option and RSU Expense Information The Company recorded non-cash compensation expense of approximately $524,000 and $449,000, respectively, including $34,500 in each period for non-employee director equity compensation, for the three months ended September 30, 2016 and 2015, respectively, related to all stock options and RSUs accounted for as equity awards, as a component of general and administrative expenses in the statements of operations. For the nine months ended September 30, 2016 and 2015, the Company recorded non-cash compensation expense of approximately $1,580,000 and $1,338,000, respectively, including $103,500 in each period for non-employee director equity compensation.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Common Share	9. Earnings Per Common Share Basic earnings per common share is computed based upon the weighted average number of common shares outstanding during the period. Diluted earnings per common share is based upon the increased number of common shares that would be outstanding assuming the exercise of dilutive common share options and the consideration of restricted stock awards. The following table details the computation of earnings per common share, basic and diluted: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 Numerator for basic per share calculation: Income from continuing operations for basic calculation $ 465,665 $ 1,507,673 $ 3,010,626 $ 5,729,168 Income from discontinued operations, net of income tax expense — 136,753 — 1,203,833 Net income for basic calculation $ 465,665 $ 1,644,426 $ 3,010,626 $ 6,933,001 Numerator for diluted per share calculation: Income from continuing operations $ 465,665 $ 1,507,673 $ 3,010,626 $ 5,729,168 Adjustments to income from continuing operations for the statements of operations impact of dilutive securities — — — — Income from continuing operations for dilution calculation 465,665 1,507,673 3,010,626 5,729,168 Income from discontinued operations, net of income tax expense — 136,753 — 1,203,833 Net income for dilution calculation $ 465,665 $ 1,644,426 $ 3,010,626 $ 6,933,001 Denominator: Weighted average common shares – basic 11,320,904 11,236,188 11,308,833 11,218,759 Effect of dilutive securities: RSUs 150,070 147,456 130,191 134,864 Stock options 293,236 337,556 306,475 339,825 Weighted average common shares – diluted 11,764,210 11,721,200 11,745,499 11,693,448 Per common share amounts – basic: Income from continuing operations $ 0.04 $ 0.13 $ 0.27 $ 0.51 Income from discontinued operations — 0.02 — 0.11 Net income $ 0.04 $ 0.15 $ 0.27 $ 0.62 Per common share amounts – diluted: Income from continuing operations $ 0.04 $ 0.13 $ 0.26 $ 0.49 Income from discontinued operations — 0.01 — 0.10 Net income $ 0.04 $ 0.14 $ 0.26 $ 0.59 Potentially dilutive securities include all stock based awards. For the three and nine months ended September 30, 2016 and 2015, only certain equity awards were antidilutive.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies From time to time, the Company has been, is or may in the future be a defendant in various legal actions arising in the normal course of business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. The Company is not a party to any litigation that could reasonably be foreseen to be material to the Company.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	11. Fair Value of Financial Instruments At September 30, 2016 and December 31, 2015, the Company’s financial instruments included receivables, payables, accrued expenses, other liabilities and debt. The fair values of these financial instruments were not materially different from their recorded values at September 30, 2016 and December 31, 2015. The Company had no debt outstanding at September 30, 2016 and December 31, 2015. See Note 5 for additional information about the Company’s debt.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its majority-owned and controlled subsidiaries. Investments in entities where the Company does not have a controlling interest are accounted for under the equity method of accounting. These investments were initially recorded at cost and were subsequently adjusted for the Company’s proportionate share of the investment’s income (loss) and additional contributions or distributions. All inter-company accounts and transactions among the Company and its subsidiaries have been eliminated in consolidation.
Quarterly Reporting	Quarterly Reporting The accompanying consolidated financial statements and notes of the Company have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared under Generally Accepted Accounting Principles in the United States (“GAAP”) have been condensed or omitted pursuant to such rules. In the opinion of management, all adjustments considered necessary for a fair presentation of the Company’s balance sheets, statements of operations, statement of changes in stockholders’ equity and statements of cash flows have been included and are of a normal and recurring nature. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2015, as filed with the SEC on March 3, 2016. The consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 and the consolidated statements of cash flows for the nine months ended September 30, 2016 and 2015 are not necessarily indicative of full year results.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. From time to time, the Company has been, is or may in the future be a defendant in various legal actions arising in the normal course of business. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. The outcome of any litigation is uncertain; it is possible that a judgment in any legal actions to which the Company is a party, or which are proposed or threatened, will have a material adverse effect on the consolidated financial statements. See Note 10.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810), Amendments to the Consolidation Analysis In February 2016, the FASB issued ASU 2016-02, Leases within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the impact the pending adoption of ASU 2016-02 will have on its consolidated financial statements and disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation
Reclassification	Reclassification Amounts in certain accounts as presented in the condensed balance sheet data and condensed operating data in Note 3 have been reclassified to conform to the current period presentation.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Condensed Balance Sheet and Operating Data for Segments	The following tables present condensed balance sheet and operating data for these segments: (amounts in thousands) Condensed Balance Sheet Data September 30, 2016 Reis Services Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 22,782 $ 2,379 $ 25,161 Restricted cash and investments 212 — 212 Accounts receivable, net 7,117 — 7,117 Prepaid and other assets 878 264 1,142 Total current assets 30,989 2,643 33,632 Furniture, fixtures and equipment, net 2,892 — 2,892 Intangible assets, net 17,594 — 17,594 Deferred tax asset, net 285 16,717 17,002 Goodwill 57,203 (2,378) 54,825 Other assets 312 — 312 Total assets $ 109,275 $ 16,982 $ 126,257 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 3,012 309 3,321 Deferred revenue 22,094 — 22,094 Total current liabilities 25,106 309 25,415 Other long-term liabilities 1,216 — 1,216 Deferred tax liability, net 32,585 (32,585) — Total liabilities 58,907 (32,276) 26,631 Total stockholders’ equity 50,368 49,258 99,626 Total liabilities and stockholders’ equity $ 109,275 $ 16,982 $ 126,257 Condensed Balance Sheet Data December 31, 2015 Reis Services Other (A) Consolidated Assets Current assets: Cash and cash equivalents $ 28,465 $ 193 $ 28,658 Restricted cash and investments 212 — 212 Accounts receivable, net 13,741 — 13,741 Prepaid and other assets 417 253 670 Total current assets 42,835 446 43,281 Furniture, fixtures and equipment, net 798 6 804 Intangible assets, net 15,687 — 15,687 Deferred tax asset, net 285 18,145 18,430 Goodwill 57,203 (2,378) 54,825 Other assets 172 — 172 Total assets $ 116,980 $ 16,219 $ 133,199 Liabilities and stockholders’ equity Current liabilities: Current portion of debt $ — $ — $ — Accrued expenses and other liabilities 4,502 1,397 5,899 Deferred revenue 25,291 — 25,291 Liabilities attributable to discontinued operations — 146 146 Total current liabilities 29,793 1,543 31,336 Other long-term liabilities 284 — 284 Deferred tax liability, net 29,498 (29,498) — Total liabilities 59,575 (27,955) 31,620 Total stockholders’ equity 57,405 44,174 101,579 Total liabilities and stockholders’ equity $ 116,980 $ 16,219 $ 133,199 (A) Includes the assets and liabilities of the Company’s discontinued operations, to the extent that such assets and liabilities existed at the date presented, and includes cash, other assets and liabilities not specifically attributable to or allocable to the Reis Services segment. (amounts in thousands) Condensed Operating Data for the Three Months Ended September 30, 2016 Reis Services Other (A) Consolidated Subscription revenue $ 11,538 $ — $ 11,538 Cost of sales of subscription revenue 2,926 — 2,926 Gross profit 8,612 — 8,612 Operating expenses: Sales and marketing 2,890 — 2,890 Product development 1,001 — 1,001 General and administrative expenses 3,005 929 3,934 Total operating expenses 6,896 929 7,825 Other income (expenses): Interest and other income 5 — 5 Interest expense (29) — (29) Total other income (expenses) (24) — (24) Income (loss) before income taxes and discontinued operations $ 1,692 $ (929) $ 763 Income from discontinued operations, before income taxes $ — $ — $ — Condensed Operating Data for the Three Months Ended September 30, 2015 Reis Services Other (A) Consolidated Subscription revenue $ 12,137 $ — $ 12,137 Cost of sales of subscription revenue 2,364 — 2,364 Gross profit 9,773 — 9,773 Operating expenses: Sales and marketing 2,804 — 2,804 Product development 926 — 926 General and administrative expenses 2,528 1,070 3,598 Total operating expenses 6,258 1,070 7,328 Other income (expenses): Interest and other income 11 — 11 Interest expense (28) — (28) Total other income (expenses) (17) — (17) Income (loss) before income taxes and discontinued operations $ 3,498 $ (1,070) $ 2,428 Income from discontinued operations, before income taxes $ — $ 226 $ 226 (A) Includes the results of the Company’s discontinued operations, to the extent that such operations existed during the periods presented, and includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment. (amounts in thousands) Condensed Operating Data for the Nine Months Ended September 30, 2016 Reis Services Other (A) Consolidated Subscription revenue $ 35,976 $ — $ 35,976 Cost of sales of subscription revenue 7,882 — 7,882 Gross profit 28,094 — 28,094 Operating expenses: Sales and marketing 8,583 — 8,583 Product development 3,022 — 3,022 General and administrative expenses 8,336 3,219 11,555 Total operating expenses 19,941 3,219 23,160 Other income (expenses): Interest and other income 19 — 19 Interest expense (78) — (78) Total other income (expenses) (59) — (59) Income (loss) before income taxes and discontinued operations $ 8,094 $ (3,219) $ 4,875 Income from discontinued operations, before income taxes $ — $ — $ — Condensed Operating Data for the Nine Months Ended September 30, 2015 Reis Services Other (A) Consolidated Subscription revenue $ 36,684 $ — $ 36,684 Cost of sales of subscription revenue 6,684 — 6,684 Gross profit 30,000 — 30,000 Operating expenses: Sales and marketing 8,918 — 8,918 Product development 2,678 — 2,678 General and administrative expenses 6,912 3,390 10,302 Total operating expenses 18,508 3,390 21,898 Other income (expenses): Interest and other income 26 — 26 Interest expense (84) — (84) Total other income (expenses) (58) — (58) Income (loss) before income taxes and discontinued operations $ 11,434 $ (3,390) $ 8,044 Income from discontinued operations, before income taxes $ — $ 2,001 $ 2,001 (A) Includes the results of the Company’s discontinued operations, to the extent that such operations existed during the periods presented, and includes interest and other income, depreciation expense and general and administrative expenses that have not been allocated to the Reis Services segment.
Accounts Receivable Balances of Reis Services	The following table presents the accounts receivable balances of Reis Services at September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Accounts receivable $ 7,273,000 $ 13,828,000 Allowance for doubtful accounts (156,000) (87,000) Accounts receivable, net $ 7,117,000 $ 13,741,000
Income from Discontinued Operations	Income from discontinued operations was comprised of the following for the three and nine months ended September 30, 2015 (there were no discontinued operations activities for the three or nine months ended September 30, 2016): For the Three Months Ended September 30, 2015 For the Nine Months Ended September 30, 2015 Litigation recoveries $ 414,000 $ 2,764,000 Other (expense), net (188,000) (763,000) Income from discontinued operations before income tax 226,000 2,001,000 Income tax expense from discontinued operations 89,000 797,000 Income from discontinued operations, net of income tax expense $ 137,000 $ 1,204,000

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Identified Intangible Assets	The amount of identified intangible assets, including the respective amounts of accumulated amortization, are as follows: September 30, 2016 December 31, 2015 Database $ 26,849,000 $ 22,790,000 Accumulated amortization (19,152,000) (17,121,000) Database, net 7,697,000 5,669,000 Customer relationships 14,100,000 14,100,000 Accumulated amortization (9,030,000) (8,328,000) Customer relationships, net 5,070,000 5,772,000 Website 16,893,000 14,735,000 Accumulated amortization (12,066,000) (10,669,000) Website, net 4,827,000 4,066,000 Acquired below market lease 2,800,000 2,800,000 Accumulated amortization (2,800,000) (2,620,000) Acquired below market lease, net — 180,000 Intangibles, net $ 17,594,000 $ 15,687,000

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 Current Federal alternative minimum tax (“AMT”) expense $ 8,000 $ 56,000 $ 149,000 $ 175,000 Current state and local tax expense (benefit) (49,000) 39,000 111,000 135,000 Deferred Federal tax expense (A) 245,000 836,000 1,490,000 3,196,000 Deferred state and local tax expense (benefit) 93,000 78,000 114,000 (394,000) Consolidated income tax expense, including taxes attributable to discontinued operations (B) 297,000 1,009,000 1,864,000 3,112,000 Less income tax expense attributable to discontinued operations — 89,000 — 797,000 Income tax expense (C) $ 297,000 $ 920,000 $ 1,864,000 $ 2,315,000 (A) Includes an AMT (benefit) of $(8,000) and $(56,000) in the three months ended September 30, 2016 and 2015, respectively, and $(149,000) and $(175,000) in the nine months ended September 30, 2016 and 2015, respectively. (B) Includes income tax expense attributable to income from discontinued operations. (C) Reflects the tax expense from continuing operations as reported on the consolidated statements of operations for the periods presented.

Stock Plans and Other Incenti23

Stock Plans and Other Incentives (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Option Activity and Other Plan Data	The following table presents option activity and other plan data for the nine months ended September 30, 2016 and 2015: For the Nine Months Ended September 30, 2016 2015 Options Weighted- Options Weighted- Average Outstanding at beginning of period 547,500 $ 9.61 582,500 $ 9.52 Granted — $ — — $ — Exercised (17,500) $ (8.74) (27,500) $ (7.50) Forfeited/cancelled/expired — $ — — $ — Outstanding at end of period 530,000 $ 9.64 555,000 $ 9.63 Options exercisable at end of period 518,000 $ 9.44 539,000 $ 9.36
Changes in RSUs	The following table presents the changes in RSUs outstanding for the nine months ended September 30, 2016 and 2015: For the Nine Months Ended September 30, 2016 2015 Outstanding at beginning of period 254,041 277,973 Granted 123,023 81,620 Common stock delivered (A) (B) (85,181) (105,970) Forfeited (4,451) (1,103) Outstanding at end of period 287,432 252,520 Intrinsic value (C) $ 5,880,859 $ 5,719,578 (A) The 2016 period includes 32,760 shares which were used to settle minimum employee withholding tax obligations for 29 employees of approximately $701,000 in 2016. A net of 52,421 shares of common stock were delivered in 2016. (B) The 2015 period includes 41,136 shares which were used to settle minimum employee withholding tax obligations for 28 employees of approximately $993,000 in 2015. A net of 64,834 shares of common stock were delivered in 2015. (C) For purposes of this calculation, the Company’s closing stock prices were $20.46 and $22.65 per share on September 30, 2016 and 2015, respectively.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Details of Computation of Earnings per Common Share, Basic and Diluted	The following table details the computation of earnings per common share, basic and diluted: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 Numerator for basic per share calculation: Income from continuing operations for basic calculation $ 465,665 $ 1,507,673 $ 3,010,626 $ 5,729,168 Income from discontinued operations, net of income tax expense — 136,753 — 1,203,833 Net income for basic calculation $ 465,665 $ 1,644,426 $ 3,010,626 $ 6,933,001 Numerator for diluted per share calculation: Income from continuing operations $ 465,665 $ 1,507,673 $ 3,010,626 $ 5,729,168 Adjustments to income from continuing operations for the statements of operations impact of dilutive securities — — — — Income from continuing operations for dilution calculation 465,665 1,507,673 3,010,626 5,729,168 Income from discontinued operations, net of income tax expense — 136,753 — 1,203,833 Net income for dilution calculation $ 465,665 $ 1,644,426 $ 3,010,626 $ 6,933,001 Denominator: Weighted average common shares – basic 11,320,904 11,236,188 11,308,833 11,218,759 Effect of dilutive securities: RSUs 150,070 147,456 130,191 134,864 Stock options 293,236 337,556 306,475 339,825 Weighted average common shares – diluted 11,764,210 11,721,200 11,745,499 11,693,448 Per common share amounts – basic: Income from continuing operations $ 0.04 $ 0.13 $ 0.27 $ 0.51 Income from discontinued operations — 0.02 — 0.11 Net income $ 0.04 $ 0.15 $ 0.27 $ 0.62 Per common share amounts – diluted: Income from continuing operations $ 0.04 $ 0.13 $ 0.26 $ 0.49 Income from discontinued operations — 0.01 — 0.10 Net income $ 0.04 $ 0.14 $ 0.26 $ 0.59

Organization and Business - Add

Organization and Business - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016Project
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of residential projects before merger	3
Percentage of ownership interest before merger	23.00%

Segment Information - Condensed

Segment Information - Condensed Balance Sheet Data for Segments (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 25,160,643	$ 28,657,956	$ 25,958,663	$ 17,745,077
Restricted cash and investments	212,268	212,268
Accounts receivable, net	7,117,259	13,741,169
Prepaid and other assets	1,142,216	670,339
Total current assets	33,632,386	43,281,732
Furniture, fixtures and equipment, net	2,891,722	804,427
Intangible assets, net	17,594,474	15,686,954
Deferred tax asset, net	17,001,737	18,429,737
Goodwill	54,824,648	54,824,648
Other assets	312,459	171,728
Total assets	126,257,426	133,199,226
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	3,320,998	5,898,226
Deferred revenue	22,094,152	25,291,499
Liabilities attributable to discontinued operations	0	145,737
Total current liabilities	25,415,150	31,335,462
Other long-term liabilities	1,216,001	284,316
Deferred tax liability, net	0	0
Total liabilities	26,631,151	31,619,778
Total stockholders' equity	99,626,275	101,579,448
Total liabilities and stockholders' equity	126,257,426	133,199,226
Reis Services [Member]
Current assets:
Cash and cash equivalents	22,782,000	28,465,000
Restricted cash and investments	212,000	212,000
Accounts receivable, net	7,117,000	13,741,000
Prepaid and other assets	878,000	417,000
Total current assets	30,989,000	42,835,000
Furniture, fixtures and equipment, net	2,892,000	798,000
Intangible assets, net	17,594,000	15,687,000
Deferred tax asset, net	285,000	285,000
Goodwill	57,203,000	57,203,000
Other assets	312,000	172,000
Total assets	109,275,000	116,980,000
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	3,012,000	4,502,000
Deferred revenue	22,094,000	25,291,000
Liabilities attributable to discontinued operations		0
Total current liabilities	25,106,000	29,793,000
Other long-term liabilities	1,216,000	284,000
Deferred tax liability, net	32,585,000	29,498,000
Total liabilities	58,907,000	59,575,000
Total stockholders' equity	50,368,000	57,405,000
Total liabilities and stockholders' equity	109,275,000	116,980,000
Other [Member]
Current assets:
Cash and cash equivalents	2,379,000	193,000
Restricted cash and investments	0	0
Accounts receivable, net	0	0
Prepaid and other assets	264,000	253,000
Total current assets	2,643,000	446,000
Furniture, fixtures and equipment, net	0	6,000
Intangible assets, net	0	0
Deferred tax asset, net	16,717,000	18,145,000
Goodwill	(2,378,000)	(2,378,000)
Other assets	0	0
Total assets	16,982,000	16,219,000
Current liabilities:
Current portion of debt	0	0
Accrued expenses and other liabilities	309,000	1,397,000
Deferred revenue	0	0
Liabilities attributable to discontinued operations		146,000
Total current liabilities	309,000	1,543,000
Other long-term liabilities	0	0
Deferred tax liability, net	(32,585,000)	(29,498,000)
Total liabilities	(32,276,000)	(27,955,000)
Total stockholders' equity	49,258,000	44,174,000
Total liabilities and stockholders' equity	$ 16,982,000	$ 16,219,000

Segment Information - Condens27

Segment Information - Condensed Operating Data for Segments (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Subscription revenue	$ 11,537,175	$ 12,137,228	$ 35,975,597	$ 36,684,041
Cost of sales of subscription revenue	2,925,212	2,363,635	7,881,536	6,683,601
Gross profit	8,611,963	9,773,593	28,094,061	30,000,440
Operating expenses:
Sales and marketing	2,890,739	2,804,498	8,583,395	8,918,285
Product development	1,001,072	925,673	3,021,726	2,678,114
General and administrative expenses	3,933,992	3,598,697	11,555,444	10,301,919
Total operating expenses	7,825,803	7,328,868	23,160,565	21,898,318
Other income (expenses):
Interest and other income	5,214	11,300	19,380	26,894
Interest expense	(28,709)	(28,352)	(78,250)	(84,848)
Total other income (expenses)	(23,495)	(17,052)	(58,870)	(57,954)
Income (loss) before income taxes and discontinued operations	762,665	2,427,673	4,874,626	8,044,168
Income from discontinued operations, before income taxes	0	226,000	0	2,001,000
Reis Services [Member]
Segment Reporting Information [Line Items]
Subscription revenue	11,538,000	12,137,000	35,976,000	36,684,000
Cost of sales of subscription revenue	2,926,000	2,364,000	7,882,000	6,684,000
Gross profit	8,612,000	9,773,000	28,094,000	30,000,000
Operating expenses:
Sales and marketing	2,890,000	2,804,000	8,583,000	8,918,000
Product development	1,001,000	926,000	3,022,000	2,678,000
General and administrative expenses	3,005,000	2,528,000	8,336,000	6,912,000
Total operating expenses	6,896,000	6,258,000	19,941,000	18,508,000
Other income (expenses):
Interest and other income	5,000	11,000	19,000	26,000
Interest expense	(29,000)	(28,000)	(78,000)	(84,000)
Total other income (expenses)	(24,000)	(17,000)	(59,000)	(58,000)
Income (loss) before income taxes and discontinued operations	1,692,000	3,498,000	8,094,000	11,434,000
Income from discontinued operations, before income taxes	0	0	0	0
Other [Member]
Segment Reporting Information [Line Items]
Subscription revenue	0	0	0	0
Cost of sales of subscription revenue	0	0	0	0
Gross profit	0	0	0	0
Operating expenses:
Sales and marketing	0	0	0	0
Product development	0	0	0	0
General and administrative expenses	929,000	1,070,000	3,219,000	3,390,000
Total operating expenses	929,000	1,070,000	3,219,000	3,390,000
Other income (expenses):
Interest and other income	0	0	0	0
Interest expense	0	0	0	0
Total other income (expenses)	0	0	0	0
Income (loss) before income taxes and discontinued operations	(929,000)	(1,070,000)	(3,219,000)	(3,390,000)
Income from discontinued operations, before income taxes	$ 0	$ 226,000	$ 0	$ 2,001,000

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Thousands	Oct. 15, 2012USD ($)	Aug. 03, 2012USD ($)	Jun. 20, 2012USD ($)	Mar. 13, 2012USD ($)	Oct. 31, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016Subscriber	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2009aSegment
Segment Reporting Information [Line Items]
Litigation recoveries						$ 414		$ 2,764	$ 5,658
Gold Peak [Member]
Segment Reporting Information [Line Items]
Number of units prior to sale | Segment										259
Number of acres prior to sale | a										29
Litigation charge regarding construction defects				$ 18,200
Other charges regarding construction defects				$ 756
Settlement with the plaintiff			$ 17,000
Gold Peak [Member] | First Installment [Member]
Segment Reporting Information [Line Items]
Installment amount due		$ 5,000
Installment due date							Aug. 3, 2012
Gold Peak [Member] | Second Installment [Member]
Segment Reporting Information [Line Items]
Installment amount due	$ 12,000
Installment due date							Oct. 15, 2012
Subsequent Event [Member]
Segment Reporting Information [Line Items]
Payments received against accounts receivable					$ 3,365
Percentage collected from trade accounts receivable					46.26%
Reis Services [Member]
Segment Reporting Information [Line Items]
Percentage of Reis Service's revenue by major subscriber							6.90%	9.20%
Number of subscribers contributing largest share among accounts receivable | Subscriber							20
Aggregate percentage of subscribers contributing largest share among accounts receivable							59.00%
Percentage of Reis Service's accounts receivable by major subscriber							9.80%
Percentage of deferred revenue by major subscriber							5.70%

Segment Information - Accounts

Segment Information - Accounts Receivable Balances of Reis Services (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Accounts receivable, net	$ 7,117,259	$ 13,741,169
Reis Services [Member]
Segment Reporting Information [Line Items]
Accounts receivable	7,273,000	13,828,000
Allowance for doubtful accounts	(156,000)	(87,000)
Accounts receivable, net	$ 7,117,000	$ 13,741,000

Segment Information - Income fr

Segment Information - Income from Discontinued Operations (Detail) - USD ($)	3 Months Ended		9 Months Ended		39 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting [Abstract]
Litigation recoveries		$ 414,000		$ 2,764,000	$ 5,658,000
Other (expense), net		(188,000)		(763,000)
Income from discontinued operations before income tax	$ 0	226,000	$ 0	2,001,000
Income tax expense from discontinued operations	0	89,000	0	797,000
Income from discontinued operations, net of income tax expense	$ 0	$ 136,753	$ 0	$ 1,203,833

Intangible Assets - Summary of

Intangible Assets - Summary of Identified Intangible Assets (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (43,048,635)	$ (38,738,292)
Intangible assets, net	17,594,474	15,686,954
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	26,849,000	22,790,000
Accumulated amortization	(19,152,000)	(17,121,000)
Intangible assets, net	7,697,000	5,669,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	14,100,000	14,100,000
Accumulated amortization	(9,030,000)	(8,328,000)
Intangible assets, net	5,070,000	5,772,000
Website [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	16,893,000	14,735,000
Accumulated amortization	(12,066,000)	(10,669,000)
Intangible assets, net	4,827,000	4,066,000
Acquired Below Market Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	2,800,000	2,800,000
Accumulated amortization	(2,800,000)	(2,620,000)
Intangible assets, net	$ 0	$ 180,000

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets	$ 1,498,000	$ 1,289,000	$ 4,310,343	$ 3,790,118
Database [Member]
Finite-Lived Intangible Assets [Line Items]
Amount capitalized to intangible asset	1,338,000	887,000	4,059,000	2,201,000
Amortization expense for intangible assets	761,000	541,000	2,031,000	1,530,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets	233,000	237,000	702,000	713,000
Website [Member]
Finite-Lived Intangible Assets [Line Items]
Amount capitalized to intangible asset	768,000	1,243,000	2,158,000	2,254,000
Amortization expense for intangible assets	475,000	436,000	1,397,000	1,320,000
Acquired Below Market Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense for intangible assets	$ 29,000	$ 75,000	$ 180,000	$ 227,000

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015	Jan. 28, 2016	Oct. 31, 2012
Debt Instrument [Line Items]
Debt outstanding	$ 0	$ 0	$ 0
Revolver [Member]
Debt Instrument [Line Items]
Revolving credit facility, interest rate description		LIBOR + 2.00% per annum (for LIBOR loans) or the greater of 1.00% or the bank's prime rate minus 0.50% per annum (for base rate loans)
Unused credit facility fee		0.25%
Borrowings under revolver	$ 0	$ 0	$ 0
Revolver [Member] | LIBOR Loans [Member]
Debt Instrument [Line Items]
Revolving credit facility, interest rate description		LIBOR + 2.00% per annum (for LIBOR loans)
Spread on variable rate		2.00%
Revolver [Member] | Base Rate Loans [Member]
Debt Instrument [Line Items]
Revolving credit facility, interest rate description		The greater of 1.00% or the bank's prime rate minus 0.50% per annum (for base rate loans)
Base rate		1.00%
Spread on variable rate		(0.50%)
2012 Revolver [Member]
Debt Instrument [Line Items]
Amount of revolving credit facility					$ 10,000,000
Expiry period of revolver		3 years
Date of expiry		Oct. 16, 2015
2012 Revolver [Member] | Extended Expiration [Member]
Debt Instrument [Line Items]
Date of expiry		Jan. 31, 2016
2016 Revolver [Member]
Debt Instrument [Line Items]
Amount of revolving credit facility				$ 20,000,000
Date of expiry		Jan. 28, 2019

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Current Federal alternative minimum tax ("AMT") expense	$ 8,000	$ 56,000	$ 149,000	$ 175,000
Current state and local tax expense (benefit)	(49,000)	39,000	111,000	135,000
Deferred Federal tax expense	245,000	836,000	1,490,000	3,196,000
Deferred state and local tax expense (benefit)	93,000	78,000	114,000	(394,000)
Consolidated income tax expense, including taxes attributable to discontinued operations	297,000	1,009,000	1,864,000	3,112,000
Less income tax expense attributable to discontinued operations	0	89,000	0	797,000
Income tax expense	297,000	920,000	1,864,000	2,315,000
Consolidated income tax expense, including taxes attributable to discontinued operations	$ 297,000	$ 1,009,000	$ 1,864,000	$ 3,112,000

Income Taxes - Components of 35

Income Taxes - Components of Income Tax Expense (Benefit) (Parenthetical) (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Deferred Federal AMT expense (benefit)	$ (8,000)	$ (56,000)	$ (149,000)	$ (175,000)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net deferred tax asset	$ 17,002,000	$ 18,430,000
Aggregate Federal NOL carryforwards		45,884,000
Federal NOLs subject to an annual limitation		13,166,000
Federal NOLs not subject to an annual limitation		32,718,000
Federal NOLs annual limitation		$ 2,779,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Aug. 30, 2016
Equity [Abstract]
Common stock repurchase authorized											$ 5,000,000
Repurchase of common stock, shares	18,127							18,127		0
Common stock repurchase, average price per share	$ 19.75							$ 19.75
Share repurchase program, remaining amount	$ 4,642,000							$ 4,642,000
Dividends declared, per share	$ 0.17	$ 0.17	$ 0.17	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.51	$ 0.42
Dividends paid, per share	$ 0.17	$ 0.17	$ 0.17	$ 0.14	$ 0.14	$ 0.14	$ 0.14
Dividend payments, amount	$ 1,937,000				$ 1,585,000			$ 5,813,374	$ 4,750,000

Stock Plans and Other Incenti38

Stock Plans and Other Incentives - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of the awards granted under the company's incentive plans			10 years
Non-cash compensation expense	$ 524,000	$ 449,000	$ 1,579,725	$ 1,338,049
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted			123,023	81,620
Vesting rights			RSUs vest one-third a year over three years
RSU [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted			4,299	4,215
Weighted average grant date fair value			$ 24.05	$ 24.53
Number of months after the termination of service, RSUs delivered to non-employee directors			6 months
Non-cash compensation expense	$ 34,500	$ 34,500	$ 103,500	$ 103,500
RSU [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted			118,724	77,405
Weighted average grant date fair value			$ 20.22	$ 22.41
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for incentive plans			3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for incentive plans			5 years

Stock Plans and Other Incenti39

Stock Plans and Other Incentives - Option Activity and Other Plan Data (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding at beginning of period, Options	547,500	582,500
Granted, Options	0	0
Exercised, Options	(17,500)	(27,500)
Forfeited/cancelled/expired, Options	0	0
Outstanding at end of period, Options	530,000	555,000
Options exercisable at end of period, Options	518,000	539,000
Outstanding at beginning of period, Weighted-Average Exercise Price	$ 9.61	$ 9.52
Granted, Weighted-Average Exercise Price	0	0
Exercised, Weighted-Average Exercise Price	(8.74)	(7.50)
Forfeited/cancelled/expired, Weighted-Average Exercise Price	0	0
Outstanding at end of period, Weighted-Average Exercise Price	9.64	9.63
Options exercisable at end of period, Weighted-Average Exercise Price	$ 9.44	$ 9.36

Stock Plans and Other Incenti40

Stock Plans and Other Incentives - Changes in RSUs (Detail) - RSU [Member] - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning of period	254,041	277,973
Granted	123,023	81,620
Common stock delivered	(85,181)	(105,970)
Forfeited	(4,451)	(1,103)
Outstanding at end of period	287,432	252,520
Intrinsic value	$ 5,880,859	$ 5,719,578

Stock Plans and Other Incenti41

Stock Plans and Other Incentives - Changes in RSUs (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2016USD ($)Employee$ / sharesshares	Sep. 30, 2015USD ($)Employee$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price | $ / shares	$ 20.46	$ 22.65
RSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock used to settle minimum employee withholding tax obligations	32,760	41,136
Number of employees withholding tax obligations | Employee	29	28
Employee withholding tax obligations approximate amount | $	$ 701,000	$ 993,000
Common stock delivered, net	52,421	64,834

Earnings Per Common Share - Det

Earnings Per Common Share - Details of Computation of Earnings per Common Share, Basic and Diluted (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator for basic per share calculation:
Income from continuing operations for basic calculation	$ 465,665	$ 1,507,673	$ 3,010,626	$ 5,729,168
Income from discontinued operations, net of income tax expense	0	136,753	0	1,203,833
Net income for basic calculation	465,665	1,644,426	3,010,626	6,933,001
Numerator for diluted per share calculation:
Income from continuing operations	465,665	1,507,673	3,010,626	5,729,168
Adjustments to income from continuing operations for the statements of operations impact of dilutive securities	0	0	0	0
Income from continuing operations for dilution calculation	465,665	1,507,673	3,010,626	5,729,168
Income from discontinued operations, net of income tax expense	0	136,753	0	1,203,833
Net income for dilution calculation	$ 465,665	$ 1,644,426	$ 3,010,626	$ 6,933,001
Denominator:
Weighted average common shares - basic	11,320,904	11,236,188	11,308,833	11,218,759
Effect of dilutive securities:
RSUs	150,070	147,456	130,191	134,864
Stock options	293,236	337,556	306,475	339,825
Weighted average common shares - diluted	11,764,210	11,721,200	11,745,499	11,693,448
Per common share amounts - basic:
Income from continuing operations	$ 0.04	$ 0.13	$ 0.27	$ 0.51
Income from discontinued operations	0	0.02	0	0.11
Net income	0.04	0.15	0.27	0.62
Per common share amounts - diluted:
Income from continuing operations	0.04	0.13	0.26	0.49
Income from discontinued operations	0	0.01	0	0.10
Net income	$ 0.04	$ 0.14	$ 0.26	$ 0.59

Fair Value of Financial Instr43

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Debt outstanding	$ 0	$ 0