Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Oct. 26, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | National Research Corporation | |
Entity Central Index Key | 70,487 | |
Trading Symbol | nrc | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 24,762,212 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 7,273 | $ 34,733 |
Trade accounts receivable, less allowance for doubtful accounts of $197 and $200, respectively | 16,544 | 14,806 |
Prepaid expenses | 3,674 | 2,310 |
Income taxes receivable | 1,001 | 375 |
Other current assets | 278 | 35 |
Total current assets | 28,770 | 52,259 |
Net property and equipment | 14,269 | 12,359 |
Intangible assets, net | 2,260 | 2,764 |
Goodwill | 57,955 | 58,021 |
Deferred contract costs | 3,371 | |
Other | 2,092 | 1,913 |
Total assets | 108,717 | 127,316 |
Current liabilities: | ||
Current portion of notes payable | 3,623 | 1,067 |
Accounts payable | 839 | 593 |
Accrued wages, bonus and profit sharing | 4,586 | 6,597 |
Accrued expenses | 3,266 | 2,882 |
Current portion of capital lease obligations | 202 | 71 |
Income taxes payable | 70 | |
Dividends payable | 4,209 | 4,222 |
Deferred revenue | 18,642 | 16,878 |
Total current liabilities | 35,437 | 32,310 |
Notes payable, net of current portion | 35,109 | |
Deferred income taxes | 6,599 | 4,030 |
Other long term liabilities | 1,433 | 935 |
Total liabilities | 78,578 | 37,275 |
Shareholders’ equity: | ||
Preferred stock, $0.01 par value, authorized 2,000,000 shares, none issued | 0 | 0 |
Common stock, value | 30 | 26 |
Additional paid-in capital | 156,384 | 51,025 |
Retained earnings (accumulated deficit) | (97,027) | 77,574 |
Accumulated other comprehensive (loss) income | (2,053) | (1,635) |
Treasury stock, at cost; 5,068,095 Common (formerly Class A) shares in 2018 and 4,898,527 in 2017 and 784,018 Class B shares in 2017 | (27,195) | (36,953) |
Total stockholders’ equity | 30,139 | 90,041 |
Total liabilities and shareholders’ equity | 108,717 | 127,316 |
Common Class B [Member] | ||
Shareholders’ equity: | ||
Common stock, value | $ 4 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Allowance for doubtful accounts | $ 197 | $ 200 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 60,000,000 | 60,000,000 |
Common stock, shares issued (in shares) | 29,830,307 | 25,835,230 |
Common stock, shares outstanding (in shares) | 24,762,212 | 20,936,703 |
Treasury stock, shares (in shares) | 5,068,095 | 4,898,527 |
Common Class B [Member] | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares issued (in shares) | 0 | 4,319,256 |
Common stock, shares outstanding (in shares) | 0 | 3,535,238 |
Treasury stock, shares (in shares) | 784,018 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenue | $ 30,013 | $ 28,951 | $ 89,047 | $ 87,661 |
Operating expenses: | ||||
Direct | 11,780 | 12,267 | 35,685 | 36,706 |
Selling, general and administrative | 7,679 | 8,430 | 23,486 | 22,021 |
Depreciation and amortization | 1,388 | 1,132 | 3,996 | 3,376 |
Total operating expenses | 20,847 | 21,829 | 63,167 | 62,103 |
Operating income | 9,166 | 7,122 | 25,880 | 25,558 |
Other income (expense): | ||||
Interest income | 3 | 29 | 57 | 58 |
Interest expense | (544) | (18) | (990) | (68) |
Other, net | (242) | 40 | 222 | 76 |
Total other (expense) income | (783) | 51 | (711) | 66 |
Income before income taxes | 8,383 | 7,173 | 25,169 | 25,624 |
Provision for income taxes | 1,391 | 3,020 | 2,923 | 9,198 |
Net income | 6,992 | 4,153 | 22,246 | 16,426 |
Common Class A [Member] | ||||
Other income (expense): | ||||
Net income | $ 6,992 | $ 2,062 | $ 17,622 | $ 8,151 |
Denominator for net income per share - basic: | ||||
Basic earnings per share (in dollars per share) | $ 0.28 | $ 0.10 | $ 0.76 | $ 0.39 |
Numerator for net income per share - diluted: | ||||
Diluted earnings per share (in dollars per share) | 0.27 | 0.09 | 0.73 | 0.38 |
Dividends Per Share of Common Stock: | ||||
Dividends declared per common share (in dollars per share) | $ 0.17 | $ 0.10 | $ 0.44 | $ 0.30 |
Weighted average shares and share equivalents outstanding: | ||||
Weighted average shares and share equivalents outstanding, basic (in shares) | 24,671 | 20,788 | 23,184 | 20,759 |
Weighted average shares and share equivalents outstanding, diluted (in shares) | 25,526 | 21,740 | 24,083 | 21,537 |
Common Class B [Member] | ||||
Other income (expense): | ||||
Net income | $ 2,091 | $ 4,624 | $ 8,275 | |
Denominator for net income per share - basic: | ||||
Basic earnings per share (in dollars per share) | $ 0.59 | $ 1.31 | $ 2.34 | |
Numerator for net income per share - diluted: | ||||
Diluted earnings per share (in dollars per share) | 0.57 | 1.27 | 2.28 | |
Dividends Per Share of Common Stock: | ||||
Dividends declared per common share (in dollars per share) | $ 0.60 | $ 0.60 | $ 1.80 | |
Weighted average shares and share equivalents outstanding: | ||||
Weighted average shares and share equivalents outstanding, basic (in shares) | 3,514 | 3,527 | 3,514 | |
Weighted average shares and share equivalents outstanding, diluted (in shares) | 3,620 | 3,628 | 3,595 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net income | $ 6,992 | $ 4,153 | $ 22,246 | $ 16,426 |
Other comprehensive income: | ||||
Other comprehensive income, foreign currency translation adjustment | 280 | 599 | (418) | 1,098 |
Other comprehensive income | 280 | 599 | (418) | 1,098 |
Comprehensive Income | $ 7,272 | $ 4,752 | $ 21,828 | $ 17,524 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($) $ in Thousands | Common Stock [Member]Common Class A [Member] | Common Stock [Member]Common Class B [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Common Class A [Member] | Common Class B [Member] | Total |
Balances at Dec. 31, 2017 | $ 26 | $ 4 | $ 51,025 | $ 77,574 | $ (1,635) | $ (36,953) | $ 90,041 | ||
Purchase of 169,568 shares of class A and 3,677 shares of class B treasury stock | (6,141) | (6,141) | |||||||
Issuance of 380,958 class A common shares and 9,296 class B common shares for the exercise of stock options | 5,429 | 5,429 | |||||||
Issuance of restricted common shares, net of forfeitures (3,496 class A shares) | |||||||||
Non-cash stock compensation expense | 1,255 | 1,255 | |||||||
Settlement of restricted common shares and stock options in connection with Recapitalization for cash of $3,271 and 90,369 class A common shares | (2,548) | (723) | (3,271) | ||||||
Settlement of class B common shares in connection with Recapitalization (3,527,246 class B common shares exchanged for $69,099 cash and 3,527,246 class A common shares) | 4 | 118,335 | (187,438) | (69,099) | |||||
Retirement of class B common shares in connection with Recapitalization (retirement of 4,328,552 class B common shares) | (4) | (17,112) | (186,944) | 204,060 | |||||
Dividends declared of $0.44 and $0.60 per A and B common share, respectively | (12,638) | (12,638) | |||||||
Other comprehensive income, foreign currency translation adjustment | (418) | (418) | |||||||
Net income | 22,246 | $ 17,622 | $ 4,624 | 22,246 | |||||
Balances at Sep. 30, 2018 | 30 | 156,384 | (97,027) | (2,053) | (27,195) | 30,139 | |||
Cumulative effect adjustment for adoption of ASC 606 | $ 2,735 | $ 2,735 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($)$ / sharesshares | |
Common Class A [Member] | |
Shares of treasury stock purchased (in shares) | 169,568 |
Shares of common stock issued for the exercise of stock option (in shares) | 380,958 |
Issuance of restricted common shares, net of forfeitures (in shares) | 3,496 |
Settlement of restricted common shares and stock options in connection with recapitalization (in shares) | 90,369 |
Settlement of class B common shares in connection with recapitalization, shares issued (in shares) | 3,527,246 |
Dividends declared per common share (in dollars per share) | $ / shares | $ 0.44 |
Common Class B [Member] | |
Shares of treasury stock purchased (in shares) | 3,677 |
Shares of common stock issued for the exercise of stock option (in shares) | 9,296 |
Cash paid settlement of restricted common shares and stock options in connection with recapitalization | $ | $ 3,271 |
Settlement of class B common shares in connection with recapitalization, shares exchanged (in shares) | 3,527,246 |
Retirement of class B common shares in connection with recapitalization, shares retired (in shares) | 4,328,552 |
Dividends declared per common share (in dollars per share) | $ / shares | $ 0.60 |
Settlement of class B common shares in connection with Recapitalization, cash exchanged | $ | $ 69,099 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 22,246 | $ 16,426 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 3,996 | 3,376 |
Deferred income taxes | 1,775 | 184 |
Reserve for uncertain tax positions | (297) | 112 |
Non-cash share-based compensation expense | 1,254 | 1,273 |
Loss on disposal of property and equipment | 212 | |
Net changes in assets and liabilities: | ||
Trade accounts receivable and unbilled revenue | (1,841) | (2,298) |
Prepaid expenses and other current assets | (1,632) | (1,274) |
Deferred contract costs, net | 1 | |
Accounts payable | 147 | (108) |
Accrued expenses, wages, bonuses and profit sharing | (1,310) | (293) |
Income taxes receivable and payable | (554) | 1,157 |
Deferred revenue | 1,939 | 2,925 |
Net cash provided by operating activities | 25,936 | 21,480 |
Cash flows from investing activities: | ||
Purchases of equity investment | (1,300) | |
Purchases of intangible Content License | (250) | |
Purchases of property and equipment | (4,858) | (3,347) |
Net cash used in investing activities | (4,858) | (4,897) |
Cash flows from financing activities: | ||
Payments related to Recapitalization | (72,370) | |
Proceeds from issuance of note payable | 40,000 | |
Borrowings on line of credit | 2,500 | |
Payments on line of credit | (2,500) | |
Payment of debt issuance costs | (187) | |
Payments on notes payable | (2,170) | (1,847) |
Payments on capital lease obligations | (104) | (81) |
Payment of employee payroll tax withholdings on share-based awards exercised | (712) | (105) |
Payment of dividends on common stock | (12,650) | (12,649) |
Net cash used in financing activities | (48,193) | (14,682) |
Effect of exchange rate changes on cash | (345) | 828 |
Change in cash and cash equivalents | (27,460) | 2,729 |
Cash and cash equivalents at beginning of period | 34,733 | 33,021 |
Cash and cash equivalents at end of period | 7,273 | 35,750 |
Supplemental disclosure of cash paid for: | ||
Interest, net of capitalized amounts | 767 | 65 |
Income taxes | 2,017 | 7,749 |
Supplemental disclosure of non-cash investing and financing activities: | ||
Common stock (formerly class A) issued in the Recapitalization in exchange for then-existing class B shares and options. | 121,371 | |
Capital lease obligations originated for property and equipment | 879 | 74 |
Stock tendered to the Company for cashless exercise of stock options in connection with equity incentive plans | $ 5,429 | $ 2,123 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of business and basis of presentation National Research Corporation, doing business as NRC Health (“NRC Health,” the “Company,” “we,” “our,” “us” or similar terms), is a leading provider of analytics and insights that facilitate measurement and improvement of the patient and employee experience while also increasing patient engagement and customer loyalty for healthcare providers, payers and other healthcare organizations in the United States and Canada. The Company’s six one six The condensed consolidated balance sheet of the Company at December 31, 2017 Information and footnote disclosures included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto that are included in the Company’s Form 10 December 31, 2017, March 14, 2018. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, National Research Corporation Canada, doing business as NRC Health Canada. All significant intercompany transactions and balances have been eliminated. The Company’s Canadian subsidiary uses as its functional currency the local currency of the country in which it operates. It translates its assets and liabilities into U.S. dollars at the exchange rate in effect at the balance sheet date. It translates its revenue and expenses at the average exchange rate during the period. The Company includes translation gains and losses in accumulated other comprehensive income (loss), a component of shareholders’ equity. Gains and losses related to transactions denominated in a currency other than the functional currency of the country in which the Company operates and short-term intercompany accounts are included in other income (expense) in the consolidated statements of income. Revenue Recognition On January 1, 2018, 2014 09, Revenue- Revenue from Contracts with Customers 606” January 1, 2018 January 1, 2018 606, not $2.7 $814,000 The Company derives a majority of its revenues from its annually renewable subscription-based service agreements with its customers, which include performance measurement and improvement services, healthcare analytics and governance education services. Such agreements are generally cancelable on short or no 3 606, ● Identify the contract, or contracts, with a customer ● Identify the performance obligations in the contract ● Determine the transaction price ● Allocate the transaction price to the identified performance obligations ● Recognize revenue when, or as, the Company satisfies the performance obligations. The Company’s revenue arrangements with a client may one may one one not Prior to 2018, third not not The Company’s arrangements with customers consist principally of four 1 2 one 3 4 Subscription-based services - twelve may One-time services – one Fixed, non-subscription services – 2018, Unit-price services – The Company recognizes contract assets or unbilled receivables related to revenue recognized for services completed but not The following tables summarize the impact the adoption of ASC 606 Consolidated balance sheet: As reported September 30, 2018 Adjustments Balances without Adoption of ASC 606 Accounts receivable, net $ 16,544 $ 1 $ 16,545 Other current assets 278 (68 ) 210 All other current assets 11,948 -- 11,948 Total current assets 28,770 (67 ) 28,703 Deferred contract costs 3,371 (3,371 ) -- All other noncurrent assets 76,576 -- 76,576 Total assets $ 108,717 $ (3,438 ) $ 105,279 Deferred revenue $ 18,642 $ 330 $ 18,972 Other current liabilities 16,795 -- 16,795 Total current liabilities 35,437 330 35,767 Deferred income taxes 6,599 (865 ) 5,734 Other long term liabilities 36,542 -- 36,542 Total liabilities 78,578 (535 ) 78,043 Retained earnings (97,027 ) (2,905 ) (99,932 ) Accumulated other comprehensive income (2,053 ) 2 (2,051 ) Other stockholders’ equity 129,219 -- 129,219 Total stockholders’ equity 30,139 (2,903 ) 27,236 Total liabilities and stockholders’ equity $ 108,717 $ (3,438 ) $ 105,279 Consolidated statement of income: Three months ended September 30, 2018 Nine months ended September 30, 2018 As reported Adjustments Balances Without Adoption of ASC 606 As reported Adjustments Balances Without Adoption of ASC 606 Revenue $ 30,013 $ (269 ) $ 29,744 $ 89,047 $ (221 ) $ 88,826 Direct expenses 11,780 (14 ) 11,766 35,685 (73 ) 35,612 Selling, general and administrative 7,679 16 7,695 23,486 73 23,559 Depreciation and amortization 1,388 -- 1,388 3,996 -- 3,996 Total operating expenses 20,847 2 20,849 63,167 -- 63,167 Operating income 9,166 (271 ) 8,895 25,880 (221 ) 25,659 Other income (expense) (783 ) -- (783 ) (711 ) -- (711 ) Income before income taxes 8,383 (271 ) 8,112 25,169 (221 ) 24,948 Provision (benefit) for income taxes 1,391 (63 ) 1,328 2,923 (51 ) 2,872 Net income $ 6,992 $ (208 ) $ 6,784 $ 22,246 $ (170 ) $ 22,076 Earnings per share of common stock: Basic earnings per share: Common (formerly Class A) $ 0.28 $ (0.01 ) $ 0.27 $ 0.76 $ (0.01 ) $ 0.75 Class B -- -- -- 1.31 -- 1.31 Diluted earnings per share: Common (formerly Class A) $ 0.27 $ (0.01 ) $ 0.26 $ 0.73 $ (0.01 ) $ 0.72 Class B -- -- -- 1.27 0.01 1.28 Consolidated statement of comprehensive income: Three months ended September 30, 2018 Nine months ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 As reported Adjustments Balances without adoption of ASC 606 Net Income $ 6,992 $ (208 ) $ 6,784 $ 22,246 $ (170 ) $ 22,076 Cumulative translation adjustment 280 -- 280 (418 ) 2 (416 ) Comprehensive Income $ 7,272 $ (208 ) $ 7,064 $ 21,828 $ (168 ) $ 21,660 Consolidated statement of cash flows: Nine months ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 Cash flows from operating activities: Net income $ 22,246 $ (170 ) $ 22,076 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 3,996 -- 3,996 Deferred income taxes 1,775 (51 ) 1,724 Reserve for uncertain tax positions (297 ) -- (297 ) Non-cash share-based compensation expense 1,254 -- 1,254 Loss on disposal of property and equipment 212 -- 212 Change in assets and liabilities: Trade accounts receivable and unbilled revenue (1,841 ) 132 (1,709 ) Prepaid expenses and other current assets (1,632 ) (6 ) (1,638 ) Deferred contract costs 1 -- 1 Accounts payable 147 -- 147 Accrued expenses, wages, bonus and profit sharing (1,310 ) -- (1,310 ) Income taxes receivable and payable (554 ) -- (554 ) Deferred revenue 1,939 93 2,032 Net cash provided by operating activities 25,936 (2 ) 25,934 Net cash used in investing activities (4,858 ) -- (4,858 ) Net cash used in financing activities (48,193 ) -- (48,193 ) Effect of exchange rate changes on cash (345 ) 2 (343 ) Change in cash and cash equivalents (27,460 ) -- (27,460 ) Cash and cash equivalents at beginning of period 34,733 -- 34,733 Cash and cash equivalents at end of period $ 7,273 -- $ 7,273 Deferred Contract Costs Deferred contract costs, net is stated at gross deferred costs less accumulated amortization. Beginning January 1, 2018, three five $616,000 $1.9 three nine September 30, 2018, $614,000 $1.9 three nine September 30, 2018, $13,000 $73,000 three nine September 30, 2018, $601,000 $1.8 three nine September 30, 2018, $12,000 $31,000 three nine September 30, 2018, one 2018, January 1, 2018 $2.6 $776,000 $3.4 2018, Fair Value Measurements The Company’s valuation techniques are based on maximizing observable inputs and minimizing the use of unobservable inputs when measuring fair value. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect the Company’s market assumptions. The inputs are then classified into the following hierarchy: ( 1 1 2 2 1 not 3 3 Commercial paper and Eurodollar deposits are included in cash equivalents and are valued at amortized cost, which approximates fair value due to their short-term nature. Eurodollar deposits are United States dollars deposited in a foreign bank branch of a United States bank and have daily liquidity. Both of these are included as a Level 2 The following details the Company’s financial assets and liabilities within the fair value hierarchy at September 30, 2018 December 31, 2017: Fair Values Measured on a Recurring Basis Level 1 Level 2 Level 3 Total (In thousands) As of September 30, 2018 Money Market Funds $ 784 $ -- $ -- $ 784 Total $ 784 $ -- $ -- $ 784 As of December 31, 2017 Money Market Funds $ 13,971 $ -- $ -- $ 13,971 Commercial Paper -- 10,490 -- 10,490 Eurodollar Deposits -- 10,017 -- 10,017 Total $ 13,971 $ 20,507 $ -- $ 34,478 There were no three September 30, 2018. The Company's long-term debt is recorded at historical cost. The fair value of long-term debt is classified in Level 2 September 30, 2018 December 31, 2017 (In thousands) Total carrying amount of long-term debt $ 38,897 $ 1,067 Estimated fair value of long-term debt $ 38,926 $ 1,066 The Company believes that the carrying amounts of trade accounts receivable, accounts payable and accrued expenses approximate their fair value due to the short maturity of those instruments. Long-lived assets that are not September 30, 2018, December 31, 2017, no Contingencies Since the September 2017 2 three three Gennaro v. National Research Corporation, et al November 15, 2017, Gerson v. Hays, et al November 16, 2017. In re National Research Corporation Shareholder Litigation third Apfel v. Hays, et al December 1, 2017. In re National Research Corporation Shareholder Litigation March 23, 2018 Apfel April 4, 2018 September 9, 2018, not October 9, 2018, September 30, 2018, no not Recent Accounting Pronouncements Not In January 2016, 2016 01, 2016 01 2016 01 December 15, 2017, not not The FASB issued ASU 2016 02, 842 February 2016 2018 11, July 2018. 2016 02 twelve December 15, 2018, 2018 11 September 30, 2018, $3.0 not 2016 02 January 1, 2019 not not In June 2016, 2016 13, 326 December 15, 2019 not In August 2018, 2018 15, 350 40 December 15, 2019 not |
Note 2 - Recapitalization
Note 2 - Recapitalization | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Recapitalization [Text Block] | 2. RECAPITALIZATION On April 16, 2018, one $19.59 April 17, 2018, $0.001 3,617,615 $72.4 In connection with the Recapitalization, on April 18, 2018, 5. |
Note 3 - Contracts With Custome
Note 3 - Contracts With Customers | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3. CONTRACTS WITH CUSTOMERS The following table disaggregates revenue for the three nine September 30, 2018 Three months ended September 30, 2018 Nine months ended September 30, 2018 Subscription services recognized ratably over time $ 26,328 $ 77,769 Services recognized at a point in time 784 2,685 Fixed, non-subscription recognized over time 996 2,775 Unit price services recognized over time 1,905 5,818 Total revenue $ 30,013 $ 89,047 The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers (In thousands): Balance at 1/1/2018 Accounts receivables $ 16,544 $ 14,674 Contract assets included in other current assets $ 68 $ 74 Deferred Revenue $ (18,642 ) $ (16,642 ) ( 1 December 31, 2017 606 Significant changes in contract assets and contract liabilities during 2018 Nine months ended September 30, 2018 Contract Asset Deferred Revenue Increase (Decrease) Revenue recognized that was included in deferred revenue at beginning of period due to completion of services $ - $ (15,363 ) Increases due to invoicing of client, net of amounts recognized as revenue - 17,522 Decreases due to completion of services (or portion of services) and transferred to accounts receivable (71 ) - Change due to cumulative catch-up adjustments arising from changes in expected contract consideration (145 ) Decreases due to impairment - - Increases due to revenue recognized in the period with additional performance obligations before invoicing 65 - not one one September 30, 2018 $578,000, $144,000, $370,000 $64,000 2018, 2019 2020, |
Note 4 - Income Taxes
Note 4 - Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 4. INCOME TAXES The effective tax rate for the three September 30, 2018 16.6% 42.1% 2017 35% 21% December 22, 2017, $308,000, $384,000 $179,000 $161,000 nine September 30, 2018 11.6% 35.9% 2017. $1.1 35% 21% $1.7 $308,000, $247,000, $179,000 As permitted by Staff Accounting Bulletin No. 118, $1.9 December 31, 2017 ● Reduction in the U.S. Federal Corporate Tax Rate: The Tax Act reduces the corporate tax rate to 21%, January 1, 2018. December 31, 2017. ● Availability of 100% September 27, 2017 ● Certain stock compensation plans potentially subject to limitations as to deductibility The above items were final as of September 30, 2018, no December 31, 2017. one December 31, 2017 no |
Note 5 - Notes Payable
Note 5 - Notes Payable | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 5. NOTES PAYABLE The Company’s long term debt consists of the following: September 30, 2018 December 31, 2017 Term Loans $ 38,897 $ 1,067 Less: current portion (3,623 ) (1,067 ) Less: unamortized debt issuance costs (165 ) — Notes payable, net of current portion $ 35,109 $ — The balance on the Company’s former term note with US Bank was paid in full in March 2018. On April 18, 2018, $15,000,000 $40,000,000 $15,000,000 may The Term Loan is payable in monthly installments of $462,988 April 2020 $526,362 April 2023. 5%. Borrowings under the Line of Credit and the Delayed Draw Term Loan, if any, bear interest at a floating rate equal to the 30 225 4.36% September 30, 2018). April 2021. September 30, 2018, not three nine September 30, 2018 $587,000 $486,000 three nine September 30, 2018 4.35% 4.25%, no The Company paid a one 0.25% 0.20% The Credit Agreement is collateralized by substantially all of the Company’s assets and contains customary representations, warranties, affirmative and negative covenants (including financial covenants) and events of default. The negative covenants include, among other things, restrictions regarding the incurrence of indebtedness and liens, repurchases of the Company’s Common Stock and acquisitions, subject in each case to certain exceptions. The Credit Agreement also contains certain financial covenants with respect to a minimum fixed charge coverage ratio of 1.10x 3.00x September 30, 2018, Scheduled maturities of notes payable at September 30, 2018 Remainder of 2018 $ 901 2019 3,715 2020 4,418 2021 4,916 2022 5,171 Thereafter 19,776 |
Note 6 - Share-based Compensati
Note 6 - Share-based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6. SHARE-BASED COMPENSATION The Company measures and recognizes compensation expense for all share-based payments based on the grant-date fair value of those awards. All of the Company’s existing stock option awards and unvested stock awards have been determined to be equity-classified awards. As described in Note 2, April $331,000 three six June 30, 2018. 2, The Company’s 2001 1,800,000 300,000 one five five ten The Company’s 2004 “2004 3,000,000 500,000 2004 not 2018, $100,000 one ten three The Company’s 2006 1,800,000 300,000 may five ten The Company granted options to purchase 116,276 nine September 30, 2018. 2018 2017 Common Stock (formerly Class A) Class A Class B Expected dividend yield at date of grant 2.59 % 2.62 % 8.06 % Expected stock price volatility 32.47 % 32.45 % 26.75 % Risk-free interest rate 2.51 % 2.18 % 2.18 % Expected life of options (in years) 7.3 6.8 6.8 The risk-free interest rate assumptions were based on the U.S. Treasury yield curve in effect at the time of the grant. The expected volatility was based on historical monthly price changes of the Company’s common stock based on the expected life of the options at the date of grant. The expected life of options is the average number of years the Company estimates that options will be outstanding. The Company considers groups of associates that have similar historical exercise behavior separately for valuation purposes. The following table summarizes stock option activity under the Company’s 2001 2006 2004 nine September 30, 2018: Number of Weighted Average Exercise Price Weighted Average Remaining Contractual Terms (Years) Aggregate Intrinsic Value (In thousands) Common Stock (formerly Class A) Outstanding at December 31, 2017 1,746,634 $ 13.88 Granted 116,276 $ 36.12 Exercised (380,958 ) $ 13.82 $ 8,048 Forfeited (21,383 ) $ 26.18 Outstanding at September 30, 2018 1,460,569 $ 15.49 4.92 $ 33,756 Exercisable at September 30, 2018 1,068,429 $ 13.26 3.84 $ 27,077 Class B Outstanding at December 31, 2017 276,716 $ 31.78 Granted -- $ -- Exercised/Settled in Recapitalization (276,716 ) $ 31.78 $ 5,937 Forfeited -- $ -- Outstanding at September 30, 2018 -- $ -- -- $ -- Exercisable at September 30, 2018 -- $ -- -- $ -- As of September 30, 2018 $1.4 2.94 The following table summarizes information for the nine September 30, 2018, 2001 2006 Common (formerly Class A) Shares Outstanding Common (formerly Class A) Weighted Average Grant Date Fair Value Per Share Class B Shares Outstanding Class B Weighted Average Grant Date Fair Value Per Share Outstanding at December 31, 2017 81,667 $ 13.80 13,611 $ 36.65 Granted 6,793 36.80 -- -- Vested/Settled in Recapitalization -- -- (13,611 ) 36.65 Forfeited (10,289 ) $ 15.23 -- $ -- Outstanding at September 30, 2018 78,171 $ 15.61 -- $ -- As of September 30, 2018, $532,000 2.74 |
Note 7 - Goodwill and Other Int
Note 7 - Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. GOODWILL AND OTHER INTANGIBLE ASSETS The following represents a summary of changes in the Company’s carrying amount of goodwill for the nine September 30, 2018: (In thousands) Balance as of December 31, 2017 $ 58,021 Foreign currency translation (66 ) Balance as of September 30, 2018 $ 57,955 Intangible assets consisted of the following: September 30, 2018 December 31, 2017 (In thousands) Non-amortizing other intangible assets: Trade name $ 1,191 $ 1,191 Amortizing other intangible assets: Customer related 9,340 9,347 Technology 1,360 1,360 Trade name 1,572 1,572 Total other intangible assets 13,463 13,470 Accumulated amortization (11,203 ) (10,706 ) Other intangible assets, net $ 2,260 $ 2,764 |
Note 8 - Property and Equipment
Note 8 - Property and Equipment | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 8. PROPERTY AND EQUIPMENT September 30, 2018 December 31, 2017 (In thousands) Property and equipment $ 45,094 $ 40,206 Accumulated depreciation (30,825 ) (27,847 ) Property and equipment, net $ 14,269 $ 12,359 |
Note 9 - Earnings Per Share
Note 9 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 9. EARNINGS PER SHARE Net income per share of the Company's former class A common stock and former class B common stock was computed using the two Diluted net income per share is computed using the weighted-average number of common shares and, if dilutive, the potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and vesting of restricted stock. The dilutive effect of outstanding stock options is reflected in diluted earnings per share by application of the treasury stock method. The liquidation rights and the rights upon the consummation of an extraordinary transaction were the same for the holders of the Company's former class A common stock and former class B common stock. Other than share distributions and liquidation rights, the amount of any dividend or other distribution payable on each share of former class A common stock was equal to one sixth 1/6th As described in Note 2, April 2018 April 17, 2018. two April 16, 2018, For the three September 30, 2018, 107,512 For the Three Months Ended September 30, 2018 For the Three Months Ended September 30, 2017 Common Stock (formerly Class A) Class B Common Stock Common Stock (formerly Class A) Class B Common Stock (In thousands, except per share data) Numerator for net income per share - basic: Net income $ 6,992 $ -- $ 2,062 $ 2,091 Allocation of distributed and undistributed income to unvested restricted stock shareholders (22 ) -- (15 ) (15 ) Net income attributable to common shareholders $ 6,970 $ -- $ 2,047 $ 2,076 Denominator for net income per share - basic: Weighted average common shares outstanding - basic 24,671 -- 20,788 3,514 Net income per share – basic $ 0.28 $ -- $ 0.10 $ 0.59 Numerator for net income per share - diluted: Net income attributable to common shareholders for basic computation $ 6,970 $ -- $ 2,047 $ 2,076 Denominator for net income per share - diluted: Weighted average common shares outstanding - basic 24,671 -- 20,788 3,514 Weighted average effect of dilutive securities – stock options 855 -- 952 106 Denominator for diluted earnings per share – adjusted weighted average shares 25,526 -- 21,740 3,620 Net income per share – diluted $ 0.27 $ -- $ 0.09 $ 0.57 For the nine September 30, 2018 2017, 36,231 91,385 nine September 30, 2017 15,231 nine September 30, 52,341 For the Nine Months Ended September 30, 2018 For the Nine Months Ended September 30, 2017 Common Stock (formerly Class A) Class B Common Stock Common Stock (formerly Class A) Class B Common Stock (In thousands, except per share data) Numerator for net income per share - basic: Net income $ 17,622 $ 4,624 $ 8,151 $ 8,275 Allocation of distributed and undistributed income to unvested restricted stock shareholders (61 ) (18 ) (63 ) (64 ) Net income attributable to common shareholders $ 17,561 $ 4,606 $ 8,088 $ 8,211 Denominator for net income per share - basic: Weighted average common shares outstanding - basic 23,184 3,527 20,759 3,514 Net income per share – basic $ 0.76 $ 1.31 $ 0.39 $ 2.34 Numerator for net income per share - diluted: Net income attributable to common shareholders for basic computation $ 17,561 $ 4,606 $ 8,088 $ 8,211 Denominator for net income per share - diluted: Weighted average common shares outstanding – basic 23,184 3,527 20,759 3,514 Weighted average effect of dilutive securities – stock options 899 101 778 81 Denominator for diluted earnings per share – adjusted weighted average shares 24,083 3,628 21,537 3,595 Net income per share – diluted $ 0.73 $ 1.27 $ 0.38 $ 2.28 |
Note 10 - Related Party
Note 10 - Related Party | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 10. RELATED PARTY A director of the Company serves as an officer of Ameritas Life Insurance Corp. (“Ameritas”). In connection with the Company’s regular assessment of its insurance-based associate benefits, which is conducted by an independent insurance broker, and the costs associated therewith, the Company purchases dental and vision insurance for certain of its associates from Ameritas. The total value of these purchases was $54,000 $63,000 three September 30, 2018 2017, $148,000 $183,000 nine September 30, 2018 2017, During 2017, 2016 three September 30, 2018 2017, $87,000 $159,000, nine September 30, 2018 2017, $195,000 $454,000, |
Note 11 - Segment Information
Note 11 - Segment Information | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 11. SEGMENT INFORMATION The Company’s six one six September 30, 2018 December 31, 2017 Long-lived assets: United States $ 77,520 $ 72,562 Canada 2,427 2,495 Total $ 79,947 $ 75,057 Total assets: United States $ 91,442 $ 110,785 Canada 17,275 16,531 Total $ 108,717 $ 127,316 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition On January 1, 2018, 2014 09, Revenue- Revenue from Contracts with Customers 606” January 1, 2018 January 1, 2018 606, not $2.7 $814,000 The Company derives a majority of its revenues from its annually renewable subscription-based service agreements with its customers, which include performance measurement and improvement services, healthcare analytics and governance education services. Such agreements are generally cancelable on short or no 3 606, ● Identify the contract, or contracts, with a customer ● Identify the performance obligations in the contract ● Determine the transaction price ● Allocate the transaction price to the identified performance obligations ● Recognize revenue when, or as, the Company satisfies the performance obligations. The Company’s revenue arrangements with a client may one may one one not Prior to 2018, third not not The Company’s arrangements with customers consist principally of four 1 2 one 3 4 Subscription-based services - twelve may One-time services – one Fixed, non-subscription services – 2018, Unit-price services – The Company recognizes contract assets or unbilled receivables related to revenue recognized for services completed but not The following tables summarize the impact the adoption of ASC 606 Consolidated balance sheet: As reported September 30, 2018 Adjustments Balances without Adoption of ASC 606 Accounts receivable, net $ 16,544 $ 1 $ 16,545 Other current assets 278 (68 ) 210 All other current assets 11,948 -- 11,948 Total current assets 28,770 (67 ) 28,703 Deferred contract costs 3,371 (3,371 ) -- All other noncurrent assets 76,576 -- 76,576 Total assets $ 108,717 $ (3,438 ) $ 105,279 Deferred revenue $ 18,642 $ 330 $ 18,972 Other current liabilities 16,795 -- 16,795 Total current liabilities 35,437 330 35,767 Deferred income taxes 6,599 (865 ) 5,734 Other long term liabilities 36,542 -- 36,542 Total liabilities 78,578 (535 ) 78,043 Retained earnings (97,027 ) (2,905 ) (99,932 ) Accumulated other comprehensive income (2,053 ) 2 (2,051 ) Other stockholders’ equity 129,219 -- 129,219 Total stockholders’ equity 30,139 (2,903 ) 27,236 Total liabilities and stockholders’ equity $ 108,717 $ (3,438 ) $ 105,279 Consolidated statement of income: Three months ended September 30, 2018 Nine months ended September 30, 2018 As reported Adjustments Balances Without Adoption of ASC 606 As reported Adjustments Balances Without Adoption of ASC 606 Revenue $ 30,013 $ (269 ) $ 29,744 $ 89,047 $ (221 ) $ 88,826 Direct expenses 11,780 (14 ) 11,766 35,685 (73 ) 35,612 Selling, general and administrative 7,679 16 7,695 23,486 73 23,559 Depreciation and amortization 1,388 -- 1,388 3,996 -- 3,996 Total operating expenses 20,847 2 20,849 63,167 -- 63,167 Operating income 9,166 (271 ) 8,895 25,880 (221 ) 25,659 Other income (expense) (783 ) -- (783 ) (711 ) -- (711 ) Income before income taxes 8,383 (271 ) 8,112 25,169 (221 ) 24,948 Provision (benefit) for income taxes 1,391 (63 ) 1,328 2,923 (51 ) 2,872 Net income $ 6,992 $ (208 ) $ 6,784 $ 22,246 $ (170 ) $ 22,076 Earnings per share of common stock: Basic earnings per share: Common (formerly Class A) $ 0.28 $ (0.01 ) $ 0.27 $ 0.76 $ (0.01 ) $ 0.75 Class B -- -- -- 1.31 -- 1.31 Diluted earnings per share: Common (formerly Class A) $ 0.27 $ (0.01 ) $ 0.26 $ 0.73 $ (0.01 ) $ 0.72 Class B -- -- -- 1.27 0.01 1.28 Consolidated statement of comprehensive income: Three months ended September 30, 2018 Nine months ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 As reported Adjustments Balances without adoption of ASC 606 Net Income $ 6,992 $ (208 ) $ 6,784 $ 22,246 $ (170 ) $ 22,076 Cumulative translation adjustment 280 -- 280 (418 ) 2 (416 ) Comprehensive Income $ 7,272 $ (208 ) $ 7,064 $ 21,828 $ (168 ) $ 21,660 Consolidated statement of cash flows: Nine months ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 Cash flows from operating activities: Net income $ 22,246 $ (170 ) $ 22,076 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 3,996 -- 3,996 Deferred income taxes 1,775 (51 ) 1,724 Reserve for uncertain tax positions (297 ) -- (297 ) Non-cash share-based compensation expense 1,254 -- 1,254 Loss on disposal of property and equipment 212 -- 212 Change in assets and liabilities: Trade accounts receivable and unbilled revenue (1,841 ) 132 (1,709 ) Prepaid expenses and other current assets (1,632 ) (6 ) (1,638 ) Deferred contract costs 1 -- 1 Accounts payable 147 -- 147 Accrued expenses, wages, bonus and profit sharing (1,310 ) -- (1,310 ) Income taxes receivable and payable (554 ) -- (554 ) Deferred revenue 1,939 93 2,032 Net cash provided by operating activities 25,936 (2 ) 25,934 Net cash used in investing activities (4,858 ) -- (4,858 ) Net cash used in financing activities (48,193 ) -- (48,193 ) Effect of exchange rate changes on cash (345 ) 2 (343 ) Change in cash and cash equivalents (27,460 ) -- (27,460 ) Cash and cash equivalents at beginning of period 34,733 -- 34,733 Cash and cash equivalents at end of period $ 7,273 -- $ 7,273 Deferred Contract Costs Deferred contract costs, net is stated at gross deferred costs less accumulated amortization. Beginning January 1, 2018, three five $616,000 $1.9 three nine September 30, 2018, $614,000 $1.9 three nine September 30, 2018, $13,000 $73,000 three nine September 30, 2018, $601,000 $1.8 three nine September 30, 2018, $12,000 $31,000 three nine September 30, 2018, one 2018, January 1, 2018 $2.6 $776,000 $3.4 2018, |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements The Company’s valuation techniques are based on maximizing observable inputs and minimizing the use of unobservable inputs when measuring fair value. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect the Company’s market assumptions. The inputs are then classified into the following hierarchy: ( 1 1 2 2 1 not 3 3 Commercial paper and Eurodollar deposits are included in cash equivalents and are valued at amortized cost, which approximates fair value due to their short-term nature. Eurodollar deposits are United States dollars deposited in a foreign bank branch of a United States bank and have daily liquidity. Both of these are included as a Level 2 The following details the Company’s financial assets and liabilities within the fair value hierarchy at September 30, 2018 December 31, 2017: Fair Values Measured on a Recurring Basis Level 1 Level 2 Level 3 Total (In thousands) As of September 30, 2018 Money Market Funds $ 784 $ -- $ -- $ 784 Total $ 784 $ -- $ -- $ 784 As of December 31, 2017 Money Market Funds $ 13,971 $ -- $ -- $ 13,971 Commercial Paper -- 10,490 -- 10,490 Eurodollar Deposits -- 10,017 -- 10,017 Total $ 13,971 $ 20,507 $ -- $ 34,478 There were no three September 30, 2018. The Company's long-term debt is recorded at historical cost. The fair value of long-term debt is classified in Level 2 September 30, 2018 December 31, 2017 (In thousands) Total carrying amount of long-term debt $ 38,897 $ 1,067 Estimated fair value of long-term debt $ 38,926 $ 1,066 The Company believes that the carrying amounts of trade accounts receivable, accounts payable and accrued expenses approximate their fair value due to the short maturity of those instruments. Long-lived assets that are not September 30, 2018, December 31, 2017, no |
Commitments and Contingencies, Policy [Policy Text Block] | Contingencies Since the September 2017 2 three three Gennaro v. National Research Corporation, et al November 15, 2017, Gerson v. Hays, et al November 16, 2017. In re National Research Corporation Shareholder Litigation third Apfel v. Hays, et al December 1, 2017. In re National Research Corporation Shareholder Litigation March 23, 2018 Apfel April 4, 2018 September 9, 2018, not October 9, 2018, September 30, 2018, no not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Not In January 2016, 2016 01, 2016 01 2016 01 December 15, 2017, not not The FASB issued ASU 2016 02, 842 February 2016 2018 11, July 2018. 2016 02 twelve December 15, 2018, 2018 11 September 30, 2018, $3.0 not 2016 02 January 1, 2019 not not In June 2016, 2016 13, 326 December 15, 2019 not In August 2018, 2018 15, 350 40 December 15, 2019 not |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Impact of the Adoption of ASC 606 on Financial Statement Line Items [Table Text Block] | As reported September 30, 2018 Adjustments Balances without Adoption of ASC 606 Accounts receivable, net $ 16,544 $ 1 $ 16,545 Other current assets 278 (68 ) 210 All other current assets 11,948 -- 11,948 Total current assets 28,770 (67 ) 28,703 Deferred contract costs 3,371 (3,371 ) -- All other noncurrent assets 76,576 -- 76,576 Total assets $ 108,717 $ (3,438 ) $ 105,279 Deferred revenue $ 18,642 $ 330 $ 18,972 Other current liabilities 16,795 -- 16,795 Total current liabilities 35,437 330 35,767 Deferred income taxes 6,599 (865 ) 5,734 Other long term liabilities 36,542 -- 36,542 Total liabilities 78,578 (535 ) 78,043 Retained earnings (97,027 ) (2,905 ) (99,932 ) Accumulated other comprehensive income (2,053 ) 2 (2,051 ) Other stockholders’ equity 129,219 -- 129,219 Total stockholders’ equity 30,139 (2,903 ) 27,236 Total liabilities and stockholders’ equity $ 108,717 $ (3,438 ) $ 105,279 Three months ended September 30, 2018 Nine months ended September 30, 2018 As reported Adjustments Balances Without Adoption of ASC 606 As reported Adjustments Balances Without Adoption of ASC 606 Revenue $ 30,013 $ (269 ) $ 29,744 $ 89,047 $ (221 ) $ 88,826 Direct expenses 11,780 (14 ) 11,766 35,685 (73 ) 35,612 Selling, general and administrative 7,679 16 7,695 23,486 73 23,559 Depreciation and amortization 1,388 -- 1,388 3,996 -- 3,996 Total operating expenses 20,847 2 20,849 63,167 -- 63,167 Operating income 9,166 (271 ) 8,895 25,880 (221 ) 25,659 Other income (expense) (783 ) -- (783 ) (711 ) -- (711 ) Income before income taxes 8,383 (271 ) 8,112 25,169 (221 ) 24,948 Provision (benefit) for income taxes 1,391 (63 ) 1,328 2,923 (51 ) 2,872 Net income $ 6,992 $ (208 ) $ 6,784 $ 22,246 $ (170 ) $ 22,076 Earnings per share of common stock: Basic earnings per share: Common (formerly Class A) $ 0.28 $ (0.01 ) $ 0.27 $ 0.76 $ (0.01 ) $ 0.75 Class B -- -- -- 1.31 -- 1.31 Diluted earnings per share: Common (formerly Class A) $ 0.27 $ (0.01 ) $ 0.26 $ 0.73 $ (0.01 ) $ 0.72 Class B -- -- -- 1.27 0.01 1.28 Three months ended September 30, 2018 Nine months ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 As reported Adjustments Balances without adoption of ASC 606 Net Income $ 6,992 $ (208 ) $ 6,784 $ 22,246 $ (170 ) $ 22,076 Cumulative translation adjustment 280 -- 280 (418 ) 2 (416 ) Comprehensive Income $ 7,272 $ (208 ) $ 7,064 $ 21,828 $ (168 ) $ 21,660 Nine months ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 Cash flows from operating activities: Net income $ 22,246 $ (170 ) $ 22,076 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 3,996 -- 3,996 Deferred income taxes 1,775 (51 ) 1,724 Reserve for uncertain tax positions (297 ) -- (297 ) Non-cash share-based compensation expense 1,254 -- 1,254 Loss on disposal of property and equipment 212 -- 212 Change in assets and liabilities: Trade accounts receivable and unbilled revenue (1,841 ) 132 (1,709 ) Prepaid expenses and other current assets (1,632 ) (6 ) (1,638 ) Deferred contract costs 1 -- 1 Accounts payable 147 -- 147 Accrued expenses, wages, bonus and profit sharing (1,310 ) -- (1,310 ) Income taxes receivable and payable (554 ) -- (554 ) Deferred revenue 1,939 93 2,032 Net cash provided by operating activities 25,936 (2 ) 25,934 Net cash used in investing activities (4,858 ) -- (4,858 ) Net cash used in financing activities (48,193 ) -- (48,193 ) Effect of exchange rate changes on cash (345 ) 2 (343 ) Change in cash and cash equivalents (27,460 ) -- (27,460 ) Cash and cash equivalents at beginning of period 34,733 -- 34,733 Cash and cash equivalents at end of period $ 7,273 -- $ 7,273 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2018 December 31, 2017 (In thousands) Total carrying amount of long-term debt $ 38,897 $ 1,067 Estimated fair value of long-term debt $ 38,926 $ 1,066 |
Fair Value, Measurements, Recurring [Member] | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 Total (In thousands) As of September 30, 2018 Money Market Funds $ 784 $ -- $ -- $ 784 Total $ 784 $ -- $ -- $ 784 As of December 31, 2017 Money Market Funds $ 13,971 $ -- $ -- $ 13,971 Commercial Paper -- 10,490 -- 10,490 Eurodollar Deposits -- 10,017 -- 10,017 Total $ 13,971 $ 20,507 $ -- $ 34,478 |
Note 3 - Contracts With Custo_2
Note 3 - Contracts With Customers (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended September 30, 2018 Nine months ended September 30, 2018 Subscription services recognized ratably over time $ 26,328 $ 77,769 Services recognized at a point in time 784 2,685 Fixed, non-subscription recognized over time 996 2,775 Unit price services recognized over time 1,905 5,818 Total revenue $ 30,013 $ 89,047 |
Contract with Customer, Asset and Liability [Table Text Block] | Balance at 1/1/2018 Accounts receivables $ 16,544 $ 14,674 Contract assets included in other current assets $ 68 $ 74 Deferred Revenue $ (18,642 ) $ (16,642 ) Nine months ended September 30, 2018 Contract Asset Deferred Revenue Increase (Decrease) Revenue recognized that was included in deferred revenue at beginning of period due to completion of services $ - $ (15,363 ) Increases due to invoicing of client, net of amounts recognized as revenue - 17,522 Decreases due to completion of services (or portion of services) and transferred to accounts receivable (71 ) - Change due to cumulative catch-up adjustments arising from changes in expected contract consideration (145 ) Decreases due to impairment - - Increases due to revenue recognized in the period with additional performance obligations before invoicing 65 - |
Note 5 - Notes Payable (Tables)
Note 5 - Notes Payable (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30, 2018 December 31, 2017 Term Loans $ 38,897 $ 1,067 Less: current portion (3,623 ) (1,067 ) Less: unamortized debt issuance costs (165 ) — Notes payable, net of current portion $ 35,109 $ — |
Schedule of Maturities of Long-term Debt [Table Text Block] | Remainder of 2018 $ 901 2019 3,715 2020 4,418 2021 4,916 2022 5,171 Thereafter 19,776 |
Note 6 - Share-based Compensa_2
Note 6 - Share-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2018 2017 Common Stock (formerly Class A) Class A Class B Expected dividend yield at date of grant 2.59 % 2.62 % 8.06 % Expected stock price volatility 32.47 % 32.45 % 26.75 % Risk-free interest rate 2.51 % 2.18 % 2.18 % Expected life of options (in years) 7.3 6.8 6.8 |
Share-based Compensation, Activity [Table Text Block] | Number of Weighted Average Exercise Price Weighted Average Remaining Contractual Terms (Years) Aggregate Intrinsic Value (In thousands) Common Stock (formerly Class A) Outstanding at December 31, 2017 1,746,634 $ 13.88 Granted 116,276 $ 36.12 Exercised (380,958 ) $ 13.82 $ 8,048 Forfeited (21,383 ) $ 26.18 Outstanding at September 30, 2018 1,460,569 $ 15.49 4.92 $ 33,756 Exercisable at September 30, 2018 1,068,429 $ 13.26 3.84 $ 27,077 Class B Outstanding at December 31, 2017 276,716 $ 31.78 Granted -- $ -- Exercised/Settled in Recapitalization (276,716 ) $ 31.78 $ 5,937 Forfeited -- $ -- Outstanding at September 30, 2018 -- $ -- -- $ -- Exercisable at September 30, 2018 -- $ -- -- $ -- |
Schedule of Nonvested Share Activity [Table Text Block] | Common (formerly Class A) Shares Outstanding Common (formerly Class A) Weighted Average Grant Date Fair Value Per Share Class B Shares Outstanding Class B Weighted Average Grant Date Fair Value Per Share Outstanding at December 31, 2017 81,667 $ 13.80 13,611 $ 36.65 Granted 6,793 36.80 -- -- Vested/Settled in Recapitalization -- -- (13,611 ) 36.65 Forfeited (10,289 ) $ 15.23 -- $ -- Outstanding at September 30, 2018 78,171 $ 15.61 -- $ -- |
Note 7 - Goodwill and Other I_2
Note 7 - Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | (In thousands) Balance as of December 31, 2017 $ 58,021 Foreign currency translation (66 ) Balance as of September 30, 2018 $ 57,955 |
Schedule of Intangible Assets [Table Text Block] | <table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-right: 5%; margin-left: 36pt; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt 0pt 0pt 9pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">September 30,</div> <div style=" margin: 0pt 0pt 0pt 9pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">2018</div> </td> <td style="padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">December 31,</div> <div style=" margin: 0pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">2017</div> </td> <td style="padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(In thousands)</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 68%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Non-amortizing other intangible assets:</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Trade name</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,191</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,191</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortizing other intangible assets:</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Customer related</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,340</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,347</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Technology</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,360</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,360</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Trade name</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,572</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,572</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total other intangible assets</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,463</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,470</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Accumulated amortization</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,203</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;">)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,706</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;">)</div> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Other intangible assets, net</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 3px; border-bottom-style: double;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 3px; border-bottom-style: double;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,260</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 3px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 3px; border-bottom-style: double;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 3px; border-bottom-style: double;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,764</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 3px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> </table></div>" id="sjs-B5"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-right: 5%; margin-left: 36pt; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt 0pt 0pt 9pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">September 30,</div> <div style=" margin: 0pt 0pt 0pt 9pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">2018</div> </td> <td style="padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">December 31,</div> <div style=" margin: 0pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">2017</div> </td> <td style="padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(In thousands)</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="width: 68%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Non-amortizing other intangible assets:</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Trade name</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,191</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,191</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortizing other intangible assets:</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Customer related</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,340</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,347</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Technology</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,360</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,360</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Trade name</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,572</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,572</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total other intangible assets</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,463</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,470</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Accumulated amortization</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,203</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;">)</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> </td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,706</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 1px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" margin: 0pt; text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;">)</div> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Other intangible assets, net</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 3px; border-bottom-style: double;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 3px; border-bottom-style: double;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,260</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 3px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 3px; border-bottom-style: double;">$</td> <td style="width: 13%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 3px; border-bottom-style: double;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,764</div></td> <td nowrap="nowrap" style="width: 1%; padding-bottom: 3px; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> </table></div> |
Note 8 - Property and Equipme_2
Note 8 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, 2018 December 31, 2017 (In thousands) Property and equipment $ 45,094 $ 40,206 Accumulated depreciation (30,825 ) (27,847 ) Property and equipment, net $ 14,269 $ 12,359 |
Note 9 - Earnings Per Share (Ta
Note 9 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended September 30, 2018 For the Three Months Ended September 30, 2017 Common Stock (formerly Class A) Class B Common Stock Common Stock (formerly Class A) Class B Common Stock (In thousands, except per share data) Numerator for net income per share - basic: Net income $ 6,992 $ -- $ 2,062 $ 2,091 Allocation of distributed and undistributed income to unvested restricted stock shareholders (22 ) -- (15 ) (15 ) Net income attributable to common shareholders $ 6,970 $ -- $ 2,047 $ 2,076 Denominator for net income per share - basic: Weighted average common shares outstanding - basic 24,671 -- 20,788 3,514 Net income per share – basic $ 0.28 $ -- $ 0.10 $ 0.59 Numerator for net income per share - diluted: Net income attributable to common shareholders for basic computation $ 6,970 $ -- $ 2,047 $ 2,076 Denominator for net income per share - diluted: Weighted average common shares outstanding - basic 24,671 -- 20,788 3,514 Weighted average effect of dilutive securities – stock options 855 -- 952 106 Denominator for diluted earnings per share – adjusted weighted average shares 25,526 -- 21,740 3,620 Net income per share – diluted $ 0.27 $ -- $ 0.09 $ 0.57 For the Nine Months Ended September 30, 2018 For the Nine Months Ended September 30, 2017 Common Stock (formerly Class A) Class B Common Stock Common Stock (formerly Class A) Class B Common Stock (In thousands, except per share data) Numerator for net income per share - basic: Net income $ 17,622 $ 4,624 $ 8,151 $ 8,275 Allocation of distributed and undistributed income to unvested restricted stock shareholders (61 ) (18 ) (63 ) (64 ) Net income attributable to common shareholders $ 17,561 $ 4,606 $ 8,088 $ 8,211 Denominator for net income per share - basic: Weighted average common shares outstanding - basic 23,184 3,527 20,759 3,514 Net income per share – basic $ 0.76 $ 1.31 $ 0.39 $ 2.34 Numerator for net income per share - diluted: Net income attributable to common shareholders for basic computation $ 17,561 $ 4,606 $ 8,088 $ 8,211 Denominator for net income per share - diluted: Weighted average common shares outstanding – basic 23,184 3,527 20,759 3,514 Weighted average effect of dilutive securities – stock options 899 101 778 81 Denominator for diluted earnings per share – adjusted weighted average shares 24,083 3,628 21,537 3,595 Net income per share – diluted $ 0.73 $ 1.27 $ 0.38 $ 2.28 |
Note 11 - Segment Information (
Note 11 - Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | September 30, 2018 December 31, 2017 Long-lived assets: United States $ 77,520 $ 72,562 Canada 2,427 2,495 Total $ 79,947 $ 75,057 Total assets: United States $ 91,442 $ 110,785 Canada 17,275 16,531 Total $ 108,717 $ 127,316 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) | Jan. 01, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018 | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) |
Number of Operating Segments | 6 | 6 | |||
Number of Reportable Segments | 1 | 1 | |||
Incremental Costs of Obtaining a Contract, Deferred During Period | $ 616,000 | $ 1,900,000 | |||
Capitalized Contract Cost, Amortization | 614,000 | 1,900,000 | |||
Asset Impairment Charges, Total | 0 | $ 0 | |||
Loss Contingency Accrual, Ending Balance | 0 | 0 | |||
Operating Leases, Future Minimum Payments Due, Total | 3,000,000 | 3,000,000 | |||
Direct Operating Costs [Member] | |||||
Capitalized Contract Cost, Amortization | 13,000 | 73,000 | |||
Selling, General and Administrative Expenses [Member] | |||||
Capitalized Contract Cost, Amortization | 601,000 | 1,800,000 | |||
Capitalized Contract Cost, Impairment Loss | $ 12,000 | $ 31,000 | |||
Minimum [Member] | |||||
Capitalized Contract Cost, Amortization Period | 3 years | ||||
Maximum [Member] | |||||
Capitalized Contract Cost, Amortization Period | 5 years | ||||
Accounting Standards Update 2014-09 [Member] | |||||
Cumulative Effect on Retained Earnings, Net of Tax, Total | $ 2,700,000 | ||||
Cumulative Effect on Retained Earnings, Tax | 814,000 | ||||
Accounting Standards Update 2014-09 [Member] | Changes Related to Contract Costs [Member] | |||||
Cumulative Effect on Retained Earnings, Net of Tax, Total | 2,600,000 | ||||
Cumulative Effect on Retained Earnings, Tax | 776,000 | ||||
Cumulative Effect on Retained Earnings, before Tax | $ 3,400,000 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Impact of the Adoption of ASC 606 on the Consolidated Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jan. 01, 2018 | [1] | Dec. 31, 2017 | |
Accounts receivable, net | $ 16,544 | $ 16,544 | $ 14,674 | $ 14,806 | |||
Other current assets | 278 | 278 | 35 | ||||
All other current assets | 11,948 | 11,948 | |||||
Total current assets | 28,770 | 28,770 | 52,259 | ||||
Deferred contract costs | 3,371 | 3,371 | |||||
All other noncurrent assets | 76,576 | 76,576 | |||||
Total assets | 108,717 | 108,717 | 127,316 | ||||
Deferred revenue | 18,642 | 18,642 | $ 16,642 | 16,878 | |||
Other current liabilities | 16,795 | 16,795 | |||||
Total current liabilities | 35,437 | 35,437 | 32,310 | ||||
Deferred income taxes | 6,599 | 6,599 | 4,030 | ||||
Other long term liabilities | 36,542 | 36,542 | |||||
Total liabilities | 78,578 | 78,578 | 37,275 | ||||
Retained earnings | (97,027) | (97,027) | 77,574 | ||||
Accumulated other comprehensive income | (2,053) | (2,053) | (1,635) | ||||
Other stockholders’ equity | 129,219 | 129,219 | |||||
Total stockholders’ equity | 30,139 | 30,139 | 90,041 | ||||
Total liabilities and stockholders’ equity | 108,717 | 108,717 | $ 127,316 | ||||
Revenue | 30,013 | $ 28,951 | 89,047 | $ 87,661 | |||
Direct expenses | 11,780 | 12,267 | 35,685 | 36,706 | |||
Selling, general and administrative | 7,679 | 8,430 | 23,486 | 22,021 | |||
Depreciation and amortization | 1,388 | 1,132 | 3,996 | 3,376 | |||
Total operating expenses | 20,847 | 21,829 | 63,167 | 62,103 | |||
Operating income | 9,166 | 7,122 | 25,880 | 25,558 | |||
Other income (expense) | (783) | 51 | (711) | 66 | |||
Income before income taxes | 8,383 | 7,173 | 25,169 | 25,624 | |||
Provision (benefit) for income taxes | 1,391 | 3,020 | 2,923 | 9,198 | |||
Net income | 6,992 | 4,153 | 22,246 | 16,426 | |||
Cumulative translation adjustment | 280 | 599 | (418) | 1,098 | |||
Comprehensive Income | 7,272 | 4,752 | 21,828 | 17,524 | |||
Deferred income taxes | 1,775 | 184 | |||||
Reserve for uncertain tax positions | (297) | 112 | |||||
Non-cash share-based compensation expense | 1,254 | 1,273 | |||||
Loss on disposal of property and equipment | 212 | ||||||
Trade accounts receivable and unbilled revenue | (1,841) | (2,298) | |||||
Prepaid expenses and other current assets | (1,632) | (1,274) | |||||
Deferred contract costs | 1 | ||||||
Accounts payable | 147 | (108) | |||||
Accrued expenses, wages, bonus and profit sharing | (1,310) | (293) | |||||
Income taxes receivable and payable | (554) | 1,157 | |||||
Deferred revenue | 1,939 | 2,925 | |||||
Net cash provided by operating activities | 25,936 | 21,480 | |||||
Net cash used in investing activities | (4,858) | (4,897) | |||||
Net cash used in financing activities | (48,193) | (14,682) | |||||
Effect of exchange rate changes on cash | (345) | 828 | |||||
Change in cash and cash equivalents | (27,460) | 2,729 | |||||
Cash and cash equivalents at beginning of period | 34,733 | 33,021 | |||||
Cash and cash equivalents at end of period | 7,273 | 35,750 | 7,273 | 35,750 | |||
Common Class A [Member] | |||||||
Net income | $ 6,992 | $ 2,062 | $ 17,622 | $ 8,151 | |||
Basic earnings per share (in dollars per share) | $ 0.28 | $ 0.10 | $ 0.76 | $ 0.39 | |||
Diluted earnings per share (in dollars per share) | $ 0.27 | $ 0.09 | $ 0.73 | $ 0.38 | |||
Common Class B [Member] | |||||||
Net income | $ 2,091 | $ 4,624 | $ 8,275 | ||||
Basic earnings per share (in dollars per share) | $ 0.59 | $ 1.31 | $ 2.34 | ||||
Diluted earnings per share (in dollars per share) | $ 0.57 | $ 1.27 | $ 2.28 | ||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Adjustments for New Accounting Pronouncement [Member] | |||||||
Accounts receivable, net | $ 1 | $ 1 | |||||
Other current assets | (68) | (68) | |||||
All other current assets | |||||||
Total current assets | (67) | (67) | |||||
Deferred contract costs | (3,371) | (3,371) | |||||
All other noncurrent assets | |||||||
Total assets | (3,438) | (3,438) | |||||
Deferred revenue | 330 | 330 | |||||
Other current liabilities | |||||||
Total current liabilities | 330 | 330 | |||||
Deferred income taxes | (865) | (865) | |||||
Other long term liabilities | |||||||
Total liabilities | (535) | (535) | |||||
Retained earnings | (2,905) | (2,905) | |||||
Accumulated other comprehensive income | 2 | 2 | |||||
Other stockholders’ equity | |||||||
Total stockholders’ equity | (2,903) | (2,903) | |||||
Total liabilities and stockholders’ equity | (3,438) | (3,438) | |||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||||
Revenue | (269) | (221) | |||||
Direct expenses | (14) | (73) | |||||
Selling, general and administrative | 16 | 73 | |||||
Depreciation and amortization | |||||||
Total operating expenses | 2 | ||||||
Operating income | (271) | (221) | |||||
Other income (expense) | |||||||
Income before income taxes | (271) | (221) | |||||
Provision (benefit) for income taxes | (63) | (51) | |||||
Net income | (208) | (170) | |||||
Cumulative translation adjustment | 2 | ||||||
Comprehensive Income | (208) | (168) | |||||
Deferred income taxes | (51) | ||||||
Reserve for uncertain tax positions | |||||||
Non-cash share-based compensation expense | |||||||
Loss on disposal of property and equipment | |||||||
Trade accounts receivable and unbilled revenue | 132 | ||||||
Prepaid expenses and other current assets | (6) | ||||||
Deferred contract costs | |||||||
Accounts payable | |||||||
Accrued expenses, wages, bonus and profit sharing | |||||||
Income taxes receivable and payable | |||||||
Deferred revenue | 93 | ||||||
Net cash provided by operating activities | (2) | ||||||
Net cash used in investing activities | |||||||
Net cash used in financing activities | |||||||
Effect of exchange rate changes on cash | 2 | ||||||
Change in cash and cash equivalents | |||||||
Cash and cash equivalents at beginning of period | |||||||
Cash and cash equivalents at end of period | |||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | Common Class A [Member] | |||||||
Basic earnings per share (in dollars per share) | $ (0.01) | $ (0.01) | |||||
Diluted earnings per share (in dollars per share) | (0.01) | (0.01) | |||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | Common Class B [Member] | |||||||
Basic earnings per share (in dollars per share) | |||||||
Diluted earnings per share (in dollars per share) | $ 0.01 | ||||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||
Accounts receivable, net | $ 16,545 | $ 16,545 | |||||
Other current assets | 210 | 210 | |||||
All other current assets | 11,948 | 11,948 | |||||
Total current assets | 28,703 | 28,703 | |||||
Deferred contract costs | |||||||
All other noncurrent assets | 76,576 | 76,576 | |||||
Total assets | 105,279 | 105,279 | |||||
Deferred revenue | 18,972 | 18,972 | |||||
Other current liabilities | 16,795 | 16,795 | |||||
Total current liabilities | 35,767 | 35,767 | |||||
Deferred income taxes | 5,734 | 5,734 | |||||
Other long term liabilities | 36,542 | 36,542 | |||||
Total liabilities | 78,043 | 78,043 | |||||
Retained earnings | (99,932) | (99,932) | |||||
Accumulated other comprehensive income | (2,051) | (2,051) | |||||
Other stockholders’ equity | 129,219 | 129,219 | |||||
Total stockholders’ equity | 27,236 | 27,236 | |||||
Total liabilities and stockholders’ equity | 105,279 | 105,279 | |||||
Revenue | 29,744 | 88,826 | |||||
Direct expenses | 11,766 | 35,612 | |||||
Selling, general and administrative | 7,695 | 23,559 | |||||
Depreciation and amortization | 1,388 | 3,996 | |||||
Total operating expenses | 20,849 | 63,167 | |||||
Operating income | 8,895 | 25,659 | |||||
Other income (expense) | (783) | (711) | |||||
Income before income taxes | 8,112 | 24,948 | |||||
Provision (benefit) for income taxes | 1,328 | 2,872 | |||||
Net income | 6,784 | 22,076 | |||||
Cumulative translation adjustment | 280 | (416) | |||||
Comprehensive Income | 7,064 | 21,660 | |||||
Deferred income taxes | 1,724 | ||||||
Reserve for uncertain tax positions | (297) | ||||||
Non-cash share-based compensation expense | 1,254 | ||||||
Loss on disposal of property and equipment | 212 | ||||||
Trade accounts receivable and unbilled revenue | (1,709) | ||||||
Prepaid expenses and other current assets | (1,638) | ||||||
Deferred contract costs | 1 | ||||||
Accounts payable | 147 | ||||||
Accrued expenses, wages, bonus and profit sharing | (1,310) | ||||||
Income taxes receivable and payable | (554) | ||||||
Deferred revenue | 2,032 | ||||||
Net cash provided by operating activities | 25,934 | ||||||
Net cash used in investing activities | (4,858) | ||||||
Net cash used in financing activities | (48,193) | ||||||
Effect of exchange rate changes on cash | (343) | ||||||
Change in cash and cash equivalents | (27,460) | ||||||
Cash and cash equivalents at beginning of period | 34,733 | ||||||
Cash and cash equivalents at end of period | $ 7,273 | $ 7,273 | |||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Common Class A [Member] | |||||||
Basic earnings per share (in dollars per share) | $ 0.27 | $ 0.75 | |||||
Diluted earnings per share (in dollars per share) | 0.26 | 0.72 | |||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Common Class B [Member] | |||||||
Basic earnings per share (in dollars per share) | 1.31 | ||||||
Diluted earnings per share (in dollars per share) | $ 1.28 | ||||||
[1] | Represents the December 31, 2017 balance adjusted for the ASC 606 transition adjustments. |
Note 1 - Summary of Significa_5
Note 1 - Summary of Significant Accounting Policies - Fair Value of Financial Assets and Liabilities (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets, fair value | $ 784 | $ 34,478 |
Money Market Funds [Member] | ||
Assets, fair value | 784 | 13,971 |
Commercial Paper [Member] | ||
Assets, fair value | 10,490 | |
Eurodollar Deposits [Member] | ||
Assets, fair value | 10,017 | |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 784 | 13,971 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Assets, fair value | 784 | 13,971 |
Fair Value, Inputs, Level 1 [Member] | Commercial Paper [Member] | ||
Assets, fair value | ||
Fair Value, Inputs, Level 1 [Member] | Eurodollar Deposits [Member] | ||
Assets, fair value | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 20,507 | |
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Assets, fair value | ||
Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member] | ||
Assets, fair value | 10,490 | |
Fair Value, Inputs, Level 2 [Member] | Eurodollar Deposits [Member] | ||
Assets, fair value | 10,017 | |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||
Assets, fair value | ||
Fair Value, Inputs, Level 3 [Member] | Commercial Paper [Member] | ||
Assets, fair value | ||
Fair Value, Inputs, Level 3 [Member] | Eurodollar Deposits [Member] | ||
Assets, fair value |
Note 1 - Summary of Significa_6
Note 1 - Summary of Significant Accounting Policies - Fair Values of Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Total carrying amount of long-term debt | $ 38,897 | $ 1,067 |
Estimated fair value of long-term debt | $ 38,926 | $ 1,066 |
Note 2 - Recapitalization (Deta
Note 2 - Recapitalization (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Apr. 17, 2018 | Apr. 16, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | ||
Payments Related to Recapitalization | $ 72,370 | ||||
Conversion of Class B Common Stock Into Class A Common Stock [Member] | |||||
Conversion of Stock, Number of Shares Exchanged for Each Share | 1 | ||||
Conversion of Stock, Cash Paid Per Share Converted | $ 19.59 | ||||
Conversion of Stock, Shares Issued | 3,617,615 | ||||
Payments Related to Recapitalization | $ 72,400 |
Note 3 - Contracts With Custo_3
Note 3 - Contracts With Customers 1 (Details Textual) | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Revenue, Remaining Performance Obligation, Optional Exemption, Performance Obligation [true false] | true |
Revenue, Remaining Performance Obligation, Amount | $ 578,000 |
Note 3 - Contracts With Custo_4
Note 3 - Contracts With Customers 2 (Details Textual) | Sep. 30, 2018USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 578,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Amount | 144,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Amount | 370,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 64,000 |
Note 3 - Contracts With Custo_5
Note 3 - Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenue | $ 30,013 | $ 28,951 | $ 89,047 | $ 87,661 |
Transferred over Time [Member] | Subscription Services [Member] | ||||
Revenue | 26,328 | 77,769 | ||
Transferred over Time [Member] | Fixed, Non-subscription Services [Member] | ||||
Revenue | 996 | 2,775 | ||
Transferred over Time [Member] | Unit Price Services [Member] | ||||
Revenue | 1,905 | 5,818 | ||
Transferred at Point in Time [Member] | Subscription Services [Member] | ||||
Revenue | $ 784 | $ 2,685 |
Note 3 - Contracts With Custo_6
Note 3 - Contracts With Customers - Information About Receivables, Contract Assets, and Contract Liabilities From Contracts With Customers (Details) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2018 | Jan. 01, 2018 | [1] | Dec. 31, 2017 | |
Accounts receivable, net | $ 16,544 | $ 14,674 | $ 14,806 | |
Deferred Revenue | (18,642) | (16,642) | $ (16,878) | |
Revenue recognized that was included in deferred revenue at beginning of period due to completion of services | (15,363) | |||
Increases due to invoicing of client, net of amounts recognized as revenue | 17,522 | |||
Decreases due to completion of services (or portion of services) and transferred to accounts receivable | (71) | |||
Change due to cumulative catch-up adjustments arising from changes in expected contract consideration | (145) | |||
Increases due to revenue recognized in the period with additional performance obligations before invoicing | 65 | |||
Other Current Assets [Member] | ||||
Contract assets included in other current assets | $ 68 | $ 74 | ||
[1] | Represents the December 31, 2017 balance adjusted for the ASC 606 transition adjustments. |
Note 4 - Income Taxes (Details
Note 4 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 16.60% | 42.10% | 11.60% | 35.90% | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | 21.00% | 35.00% | |
Increase Decrease In Income Tax Expense From Changing Software Development Tax Depreciation Method | $ (308,000) | $ (308,000) | |||
Increase (Decrease) in Income Tax Expense from Non-deductible Recapitalization Expenses | (384,000) | (247,000) | |||
Increase Decrease In Income Tax Expense From Adjustments Related to Uncertain Tax and Other State Tax | (179,000) | (179,000) | |||
Increase (Decrease) in Income Tax Expense from Exercise of Options and Dividends Paid to Non-vested Shareholders | $ (161,000) | (1,700,000) | |||
Income Tax Expense (Benefit) Related to Recapitalization | $ (1,100,000) | ||||
Provisional Tax Expense (Benefit) for Tax Cuts and Jobs Act | $ (1,900,000) |
Note 5 - Notes Payable (Details
Note 5 - Notes Payable (Details Textual) | Apr. 18, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Apr. 30, 2023USD ($) |
Proceeds from Notes Payable, Total | $ 40,000,000 | |||||
Credit Agreement [Member] | First National Bank of Omaha [Member] | ||||||
Origination Fee Percentage | 0.25% | |||||
Debt Instrument, Covenant, Minimum Fixed Charge Coverage Ratio | 1.1 | |||||
Debt Instrument, Covenant, Maximum Cash Flow Leverage Ratio | 3 | |||||
Credit Agreement [Member] | First National Bank of Omaha [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | |||||
Credit Agreement [Member] | First National Bank of Omaha [Member] | Term Loan [Member] | ||||||
Proceeds from Notes Payable, Total | $ 40,000,000 | |||||
Debt Instrument, Periodic Payment, Total | $ 462,988 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |||||
Credit Agreement [Member] | First National Bank of Omaha [Member] | Term Loan [Member] | Scenario, Forecast [Member] | ||||||
Debt Instrument, Periodic Payment, Total | $ 526,362 | |||||
Credit Agreement [Member] | First National Bank of Omaha [Member] | Delayed Draw Term Loan [Member] | ||||||
Debt Instrument, Unused Borrowing Capacity, Amount | $ 15,000,000 | |||||
Proceeds from Issuance of Long-term Debt, Total | $ 0 | |||||
Credit Agreement [Member] | First National Bank of Omaha [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 15,000,000 | |||||
Debt Instrument, Percentage Bearing Variable Interest, Percentage Rate | 4.36% | 4.36% | 4.36% | |||
Long-term Line of Credit, Total | $ 0 | $ 0 | $ 0 | |||
Short-term Debt, Weighted Average Interest Rate, over Time | 4.35% | 4.25% | ||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.20% | |||||
Credit Agreement [Member] | First National Bank of Omaha [Member] | Revolving Credit Facility [Member] | Weighted Average [Member] | ||||||
Line of Credit Facility, Weighted Average Borrowings | $ 587,000 | $ 486,000 |
Note 5 - Notes Payable - Summar
Note 5 - Notes Payable - Summary of Notes Payable (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Less: current portion | $ (3,623) | $ (1,067) |
Less: unamortized debt issuance costs | (165) | |
Notes payable, net of current portion | 35,109 | |
Term Loan [Member] | ||
Term Loans | $ 38,897 | $ 1,067 |
Note 5 - Notes Payable - Schedu
Note 5 - Notes Payable - Scheduled Maturities of Notes Payable (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Remainder of 2018 | $ 901 |
2,019 | 3,715 |
2,020 | 4,418 |
2,021 | 4,916 |
2,022 | 5,171 |
Thereafter | $ 19,776 |
Note 6 - Share-based Compensa_3
Note 6 - Share-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | Sep. 30, 2018 | |
Common Class A Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 116,276 | ||
The 2001 Equity Incentive Plan [Member] | Employee Stock Option [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | ||
The 2001 Equity Incentive Plan [Member] | Employee Stock Option [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
Director Plan 2004 [Member] | Nonqualified Stock Options [Member] | Director [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Share Based Compensation Arrangement By Share Based Payment Award, Award Annual Options Grant Amount | $ 100,000 | ||
Director Plan 2004 [Member] | Nonqualified Stock Options [Member] | Minimum [Member] | Director [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 3 years | ||
Director Plan 2004 [Member] | Nonqualified Stock Options [Member] | Maximum [Member] | Director [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
The 2006 Equity Incentive Plan [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | ||
The 2006 Equity Incentive Plan [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
Common Class B [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award Accelerated Compensation Cost | $ 331,000 | $ 331,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | |||
Common Class B [Member] | The 2001 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 300,000 | ||
Common Class B [Member] | Director Plan 2004 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 500,000 | ||
Common Class B [Member] | The 2006 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 300,000 | ||
Common Class A [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 116,276 | ||
Common Class A [Member] | Employee Stock Option [Member] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 1,400,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 343 days | ||
Common Class A [Member] | Nonvested [Member] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 532,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 270 days | ||
Common Class A [Member] | The 2001 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,800,000 | ||
Common Class A [Member] | Director Plan 2004 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,000,000 | ||
Common Class A [Member] | The 2006 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,800,000 |
Note 6 - Share-based Compensa_4
Note 6 - Share-based Compensation - Stock Options Valuation Assumptions (Details) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Common Class A [Member] | ||
Expected dividend yield at date of grant | 2.62% | |
Expected stock price volatility | 32.45% | |
Risk-free interest rate | 2.18% | |
Expected life of options (in years) (Year) | 6 years 292 days | |
Common Class B [Member] | ||
Expected dividend yield at date of grant | 8.06% | |
Expected stock price volatility | 26.75% | |
Risk-free interest rate | 2.18% | |
Expected life of options (in years) (Year) | 6 years 292 days | |
Common Stock [Member] | ||
Expected dividend yield at date of grant | 2.59% | |
Expected stock price volatility | 32.47% | |
Risk-free interest rate | 2.51% | |
Expected life of options (in years) (Year) | 7 years 109 days |
Note 6 - Share-based Compensa_5
Note 6 - Share-based Compensation - Stock Option Activity Under Equity Incentive Plans and Director Plan (Details) $ / shares in Units, $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($)$ / sharesshares | |
Common Class A [Member] | |
Outstanding, number of options (in shares) | 1,746,634 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 13.88 |
Granted, number of options (in shares) | 116,276 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 36.12 |
Exercised, number of options (in shares) | (380,958) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 13.82 |
Exercised, aggregate intrinsic value | $ | $ 8,048 |
Forfeited, number of options (in shares) | (21,383) |
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | $ 26.18 |
Outstanding, weighted average remaining contractual term (Year) | 4 years 335 days |
Outstanding, aggregate intrinsic value | $ | $ 33,756 |
Exercisable, number of options (in shares) | 1,068,429 |
Weighted average exercise price (in dollars per share) | $ / shares | $ 13.26 |
Exercisable, weighted average remaining contractual term (Year) | 3 years 306 days |
Exercisable, aggregate intrinsic value | $ | $ 27,077 |
Outstanding, number of options (in shares) | 1,460,569 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 15.49 |
Common Class B [Member] | |
Outstanding, number of options (in shares) | 276,716 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 31.78 |
Granted, number of options (in shares) | |
Granted, weighted average exercise price (in dollars per share) | $ / shares | |
Exercised, number of options (in shares) | (9,296) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 31.78 |
Exercised, aggregate intrinsic value | $ | $ 5,937 |
Forfeited, number of options (in shares) | |
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | |
Outstanding, weighted average remaining contractual term (Year) | |
Outstanding, aggregate intrinsic value | $ | |
Exercisable, number of options (in shares) | |
Weighted average exercise price (in dollars per share) | $ / shares | |
Exercisable, weighted average remaining contractual term (Year) | |
Exercisable, aggregate intrinsic value | $ | |
Exercised/Settled in Recapitalization, number of options (in shares) | (276,716) |
Outstanding, number of options (in shares) | |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares |
Note 6 - Share-based Compensa_6
Note 6 - Share-based Compensation - Non-vested Stock (Details) | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Common Class A [Member] | |
Outstanding (in shares) | shares | 81,667 |
Outstanding (in dollars per share) | $ / shares | $ 13.80 |
Granted (in shares) | shares | 6,793 |
Granted (in dollars per share) | $ / shares | $ 36.80 |
Vested/Settled in Recapitalization (in shares) | shares | |
Vested/Settled in Recapitalization (in dollars per share) | $ / shares | |
Forfeited (in shares) | shares | (10,289) |
Forfeited (in dollars per share) | $ / shares | $ 15.23 |
Outstanding (in shares) | shares | 78,171 |
Outstanding (in dollars per share) | $ / shares | $ 15.61 |
Common Class B [Member] | |
Outstanding (in shares) | shares | 13,611 |
Outstanding (in dollars per share) | $ / shares | $ 36.65 |
Granted (in shares) | shares | |
Granted (in dollars per share) | $ / shares | |
Vested/Settled in Recapitalization (in shares) | shares | (13,611) |
Vested/Settled in Recapitalization (in dollars per share) | $ / shares | $ 36.65 |
Forfeited (in shares) | shares | |
Forfeited (in dollars per share) | $ / shares | |
Outstanding (in shares) | shares | |
Outstanding (in dollars per share) | $ / shares |
Note 7 - Goodwill and Other I_3
Note 7 - Goodwill and Other Intangible Assets - Summary of Changes in the Carrying Amount of Goodwill (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Balance | $ 58,021 |
Foreign currency translation | (66) |
Balance | $ 57,955 |
Note 7 - Goodwill and Other I_4
Note 7 - Goodwill and Other Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Trade name | $ 1,191 | $ 1,191 |
Total other intangible assets | 13,463 | 13,470 |
Accumulated amortization | (11,203) | (10,706) |
Other intangible assets, net | 2,260 | 2,764 |
Customer Relationships [Member] | ||
Intangible assets | 9,340 | 9,347 |
Technology-Based Intangible Assets [Member] | ||
Intangible assets | 1,360 | 1,360 |
Trade Names [Member] | ||
Intangible assets | $ 1,572 | $ 1,572 |
Note 8 - Property and Equipme_3
Note 8 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Property and equipment | $ 45,094 | $ 40,206 |
Accumulated depreciation | (30,825) | (27,847) |
Property and equipment, net | $ 14,269 | $ 12,359 |
Note 9 - Earnings Per Share (De
Note 9 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Apr. 16, 2018 | |
Percentage of Class B Common Stock Dividend or Other Distribution for Class A Common Stock Dividend or Other Distribution | 0.16667% | 0.16667% | ||
Common Class A [Member] | ||||
Stock Options Excluded from Computation of Earnings Per Share, Amount | 107,512 | 36,231 | 91,385 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 52,341 | |||
Common Class B [Member] | ||||
Stock Options Excluded from Computation of Earnings Per Share, Amount | 15,231 |
Note 9 - Earnings Per Share - N
Note 9 - Earnings Per Share - Net Income Per Share Computation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Numerator for net income per share - basic: | ||||
Net income | $ 6,992 | $ 4,153 | $ 22,246 | $ 16,426 |
Common Class A [Member] | ||||
Numerator for net income per share - basic: | ||||
Net income | 6,992 | 2,062 | 17,622 | 8,151 |
Allocation of distributed and undistributed income to unvested restricted stock shareholders | (22) | (15) | (61) | (63) |
Net income attributable to common shareholders | $ 6,970 | $ 2,047 | $ 17,561 | $ 8,088 |
Denominator for net income per share - basic: | ||||
Weighted average common shares outstanding - basic (in shares) | 24,671 | 20,788 | 23,184 | 20,759 |
Net income per share – basic (in dollars per share) | $ 0.28 | $ 0.10 | $ 0.76 | $ 0.39 |
Numerator for net income per share - diluted: | ||||
Net income attributable to common shareholders for basic computation | $ 6,970 | $ 2,047 | $ 17,561 | $ 8,088 |
Weighted average common shares outstanding - basic (in shares) | 24,671 | 20,788 | 23,184 | 20,759 |
Weighted average effect of dilutive securities – stock options (in shares) | 855 | 952 | 899 | 778 |
Denominator for diluted earnings per share – adjusted weighted average shares (in shares) | 25,526 | 21,740 | 24,083 | 21,537 |
Net income per share – diluted (in dollars per share) | $ 0.27 | $ 0.09 | $ 0.73 | $ 0.38 |
Common Class B [Member] | ||||
Numerator for net income per share - basic: | ||||
Net income | $ 2,091 | $ 4,624 | $ 8,275 | |
Allocation of distributed and undistributed income to unvested restricted stock shareholders | (15) | (18) | (64) | |
Net income attributable to common shareholders | $ 2,076 | $ 4,606 | $ 8,211 | |
Denominator for net income per share - basic: | ||||
Weighted average common shares outstanding - basic (in shares) | 3,514 | 3,527 | 3,514 | |
Net income per share – basic (in dollars per share) | $ 0.59 | $ 1.31 | $ 2.34 | |
Numerator for net income per share - diluted: | ||||
Net income attributable to common shareholders for basic computation | $ 2,076 | $ 4,606 | $ 8,211 | |
Weighted average common shares outstanding - basic (in shares) | 3,514 | 3,527 | 3,514 | |
Weighted average effect of dilutive securities – stock options (in shares) | 106 | 101 | 81 | |
Denominator for diluted earnings per share – adjusted weighted average shares (in shares) | 3,620 | 3,628 | 3,595 | |
Net income per share – diluted (in dollars per share) | $ 0.57 | $ 1.27 | $ 2.28 |
Note 10 - Related Party (Detail
Note 10 - Related Party (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Ameritas Life Insurance Corp [Member] | ||||
Related Party Transaction, Amounts of Transaction | $ 54,000 | $ 63,000 | $ 148,000 | $ 183,000 |
PracticingExcellence.com [Member] | ||||
Revenue from Related Parties | $ 87,000 | $ 159,000 | $ 195,000 | $ 454,000 |
Note 11 - Segment Information_2
Note 11 - Segment Information (Details Textual) | 6 Months Ended | 9 Months Ended |
Jun. 30, 2018 | Sep. 30, 2018 | |
Number of Operating Segments | 6 | 6 |
Number of Reportable Segments | 1 | 1 |
Note 11 - Segment Information -
Note 11 - Segment Information - Assets by Geographic Area (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Long-lived assets | $ 79,947 | $ 75,057 |
Total assets | 108,717 | 127,316 |
UNITED STATES | ||
Long-lived assets | 77,520 | 72,562 |
Total assets | 91,442 | 110,785 |
CANADA | ||
Long-lived assets | 2,427 | 2,495 |
Total assets | $ 17,275 | $ 16,531 |