UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 24, 2014 (July 23, 2014)
TYLER TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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1-10485 |
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75-2303920 |
(State or other jurisdiction
of incorporation or organization) |
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(Commission
File Number) |
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(I.R.S. Employer
Identification No.) |
5101 TENNYSON PARKWAY
PLANO, TEXAS 75024
(Address of principal executive offices)
(972) 713-3700
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02 |
Results of Operations and Financial Condition |
On July 23, 2014, Tyler Technologies, Inc. issued the
earnings news release announcing results from operations and financial condition as of June 30, 2014, attached hereto as Exhibit 99.1, which news release is incorporated by reference herein.
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Exhibit number |
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Exhibit description |
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99.1 |
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News Release issued by Tyler Technologies, Inc. dated July 23, 2014. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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TYLER TECHNOLOGIES, INC. |
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Date: July 24, 2014 |
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By: |
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/s/ Brian K. Miller |
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Brian K. Miller |
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Executive Vice President and Chief Financial |
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Officer (principal financial officer) |
Exhibit 99.1
Tyler Technologies Reports Earnings
for Second Quarter 2014
Earnings rise 63 percent on 21 percent revenue growth
PLANO, Texas July 23, 2014 Tyler Technologies, Inc. (NYSE: TYL) today announced financial results for the second quarter ended
June 30, 2014.
Second Quarter Financial Highlights:
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Total revenue was $124.4 million in the second quarter of 2014, up 20.6 percent from $103.1 million in the second quarter of 2013. |
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Recurring software revenue from maintenance and subscriptions was $72.9 million for the quarter, an increase of 20.5 percent compared to the second quarter of 2013, and comprised 58.6 percent of second quarter 2014
revenue. |
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Royalty revenue from Microsoft Dynamics® AX, which is included in software licenses and royalties, was $576,000 compared to $687,000 for the second quarter of
2013. |
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Operating income for the quarter was $23.6 million, an increase of 53.9 percent from the second quarter of 2013. |
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Net income for the quarter was $14.7 million, or $0.42 per diluted share, up 62.9 percent compared to $9.0 million, or $0.26 per diluted share, for the second quarter of 2013. |
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Cash flow from operations for the quarter was $12.3 million, compared to negative $498,000 for the second quarter of 2013. |
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Non-GAAP operating income for the quarter was $28.7 million, up 44.4 percent from $19.9 million for the second quarter of 2013. |
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Adjusted EBITDA for the quarter was $30.7 million, up 43.0 percent compared to $21.5 million for the second quarter of 2013. |
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Non-GAAP net income for the quarter was $18.4 million, or $0.52 per diluted share, up 50.2 percent compared to $12.2 million, or $0.36 per diluted share, for the second quarter of 2013. |
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Total backlog was $654.7 million at June 30, 2014, up 51.9 percent from $430.9 million at June 30, 2013. Software-related backlog (excluding appraisal services) was $619.1 million, an increase of 50.6 percent
compared to $411.1 million at June 30, 2013. |
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The company repurchased approximately 294,000 shares of its common stock during the quarter at an average price of $77.57. |
This was the best quarterly performance in the companys history by virtually any measure, said John S. Marr Jr., Tylers president and
chief executive officer. License and royalty revenues grew by nearly 20 percent, while subscription revenues rose more than 50 percent for the second consecutive quarter. We achieved gross margin expansion of 150 basis points and operating
margin expansion of 410 basis points, even as we continued to invest in long-term growth opportunities such as e-filing for courts.
- more
-
Tyler Technologies Reports Earnings
for Second Quarter 2014
July 23, 2014
Page
2
In addition to record revenues and earnings, our bookings and backlog also reached new highs. Bookings
for the quarter and the trailing 12 months grew 62.6 percent and 47.8 percent, respectively, and our backlog at June 30 rose 52 percent over last year. The total value of SaaS client contracts signed during the quarter was almost $18 million as
we added 65 SaaS clients, a new quarterly high.
During the second quarter we signed contracts for our Odyssey® case management solution with courts in 13 California counties, including Los Angeles and San Diego, two of the nations five largest counties. Bookings and win rates were very strong across
all of our major product suites, which is indicative of Tylers market-leading competitive position in the local government space. More important, beyond the initial contract values reflected in current bookings, we expect these new contracts
will generate long-term recurring revenue streams from maintenance or subscriptions, and in the case of most of the new courts contracts, transaction-based e-filing, continued Mr. Marr.
Our results in the first half of 2014 significantly exceeded our expectations, and because the outlook for the remainder of the year is increasingly
positive, we are revising upward our revenue and earnings guidance to reflect that outlook, Mr. Marr concluded.
Guidance for 2014
As of July 23, 2014, Tyler Technologies is providing the following full-year 2014 guidance:
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Total revenues are expected to be in the range of $482 million to $489 million. |
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Diluted earnings per share are expected to be approximately $1.52 to $1.59. |
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Non-GAAP diluted earnings per share are expected to be approximately $1.95 to $2.02. |
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Pretax non-cash, share-based compensation expense is expected to be approximately $15.0 million. |
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The effective tax rate is expected to be between approximately 38.0 percent and 40.0 percent. |
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Capital expenditures are expected to be between $12.0 million and $13.0 million, and total depreciation and amortization expense is expected to be between $14.5 million and $15.0 million, including approximately $6.5
million of amortization of acquisition intangibles. |
Conference Call
Tyler Technologies will hold a conference call on Thursday, July 24, at 10:00 a.m. ET to discuss the companys results. The company is offering
participants the opportunity to register in advance for the conference through the following link: http://dpregister.com/10048915. Registered participants will receive an email with a calendar reminder and a dial-in number and PIN that will
allow them immediate access to the call.
Participants who do not wish to pre-register for the call may dial in using 877-270-2148 (U.S. callers) or
412-902-6510 (international callers), and ask for the Tyler Technologies call. A replay will be available two hours after completion of the call through July 31, 2014. To access the replay, please dial 877-344-7529 (U.S. callers) or
412-317-0088 (international callers) and reference passcode 10048915. The live webcast and archived replay can also be accessed at www.tylertech.com.
- more -
Tyler Technologies Reports Earnings
for Second Quarter 2014
July 23, 2014
Page
3
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with
clients to empower the public sector cities, counties, schools and other government entities to become more efficient, more accessible and more responsive to the needs of citizens. Tylers client base includes more than 11,000
local government offices in all 50 states, Canada, the Caribbean, the United Kingdom and other international locations. Forbes named Tyler one of Americas Best Small Companies seven times and the company has been included four
times on the Barrons 400 Index, a measure of the most promising companies in America. More information about Plano-based Tyler Technologies can be found at www.tylertech.com.
Non-GAAP Financial Measures
Tyler Technologies has
provided in this press release financial measures that have not been prepared in accordance with generally accepted accounting principles (GAAP) and are therefore considered non-GAAP financial measures. This information includes non-GAAP gross
profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, non-GAAP earnings per diluted share, EBITDA and adjusted EBITDA. We use these non-GAAP financial measures internally in analyzing our financial
results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating Tylers ongoing operational performance. Tyler believes the use of these non-GAAP financial measures provides an additional tool for investors to
use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures. Non-GAAP financial measures discussed above exclude
share-based compensation expense, employer portion of payroll taxes on employee stock transactions, and expenses associated with amortization of intangibles arising from business combinations. We use these measures and believe they are useful to
investors because they provide additional insight in comparing results from period to period.
Non-GAAP financial measures should be considered in
addition to, and not as a substitute for, or superior to, financial information prepared in accordance with GAAP. The non-GAAP measures used by Tyler Technologies may be different from non-GAAP measures used by other companies. Investors are
encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, which has been provided in the financial statement tables included below in this press release.
Forward-looking Statements
This document contains
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical in nature and typically address future or anticipated
events, trends, expectations or beliefs with respect to our financial condition, results of operations or business. Forward-looking statements often contain words such as believes, expects, anticipates,
foresees, forecasts, estimates, plans, intends, continues, may, will, should, projects, might, could or
other similar words or phrases. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. We believe there is a reasonable basis for our forward-looking
statements, but they are inherently subject to risks and uncertainties and actual results could differ materially from the expectations and beliefs reflected in the forward-looking statements. We presently
- more -
Tyler Technologies Reports Earnings
for Second Quarter 2014
July 23, 2014
Page
4
consider the following to be among the important factors that could cause actual results to differ materially from our expectations and beliefs: (1) changes in the budgets or regulatory
environments of our customers, primarily local and state governments, that could negatively impact information technology spending; (2) our ability to protect client information from security breaches and provide uninterrupted operations of
data centers; (3) material portions of our business require the Internet infrastructure to be adequately maintained; (4) our ability to achieve our financial forecasts due to various factors, including project delays by our customers,
reductions in transaction size, fewer transactions, delays in delivery of new products or releases or a decline in our renewal rates for service agreements; (5) general economic, political and market conditions; (6) technological and
market risks associated with the development of new products or services or of new versions of existing or acquired products or services; (7) our ability to achieve growth or operational synergies through the integration of acquired businesses,
while avoiding unanticipated costs and disruptions to existing operations; (8) competition in the industry in which we conduct business and the impact of competition on pricing, customer retention and pressure for new products or services;
(9) the ability to attract and retain qualified personnel and dealing with the loss or retirement of key members of management or other key personnel; and (10) costs of compliance and any failure to comply with government and stock
exchange regulations. A detailed discussion of these factors and other risks that affect our business are described in our filings with the Securities and Exchange Commission, including the detailed Risk Factors contained in our most
recent annual report on Form 10-K. We expressly disclaim any obligation to publicly update or revise our forward-looking statements.
###
(Comparative results follow)
Contact: Brian
K. Miller
Executive Vice President - CFO
Tyler
Technologies, Inc.
972-713-3720
brian.miller@tylertech.com
14-56
TYLER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share amounts)
(Unaudited)
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2014 |
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2013 |
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2014 |
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2013 |
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Revenues: |
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Software licenses and royalties |
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$ |
12,083 |
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$ |
10,090 |
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$ |
23,315 |
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$ |
18,920 |
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Subscriptions |
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20,934 |
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13,863 |
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41,441 |
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27,336 |
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Software services |
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30,128 |
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24,085 |
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54,435 |
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44,546 |
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Maintenance |
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51,951 |
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46,639 |
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102,191 |
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92,689 |
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Appraisal services |
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5,444 |
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5,056 |
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10,295 |
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10,647 |
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Hardware and other |
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3,831 |
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3,355 |
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5,320 |
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4,749 |
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Total revenues |
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124,371 |
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103,088 |
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236,997 |
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198,887 |
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Cost of revenues: |
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Software licenses and royalties |
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343 |
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692 |
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874 |
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1,118 |
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Acquired software |
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444 |
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523 |
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925 |
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1,072 |
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Software services, maintenance and subscriptions |
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58,274 |
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48,833 |
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113,273 |
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95,215 |
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Appraisal services |
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3,665 |
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3,418 |
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6,976 |
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7,217 |
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Hardware and other |
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3,087 |
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2,580 |
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3,861 |
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3,378 |
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Total cost of revenues |
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65,813 |
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56,046 |
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125,909 |
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108,000 |
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Gross profit |
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58,558 |
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47,042 |
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111,088 |
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90,887 |
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Selling, general and administrative expenses |
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27,419 |
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24,971 |
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52,786 |
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47,617 |
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Research and development expense |
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6,389 |
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5,594 |
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12,561 |
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11,192 |
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Amortization of customer and trade name intangibles |
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1,128 |
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1,128 |
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2,257 |
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2,259 |
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Operating income |
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23,622 |
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15,349 |
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43,484 |
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29,819 |
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Other expense, net |
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216 |
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296 |
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475 |
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634 |
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Income before income taxes |
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23,406 |
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15,053 |
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43,009 |
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29,185 |
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Income tax provision |
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8,666 |
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6,006 |
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16,386 |
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11,645 |
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Net income |
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$ |
14,740 |
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$ |
9,047 |
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$ |
26,623 |
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$ |
17,540 |
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Earnings per common share: |
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Basic |
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$ |
0.45 |
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$ |
0.29 |
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$ |
0.81 |
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$ |
0.55 |
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Diluted |
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$ |
0.42 |
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$ |
0.26 |
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$ |
0.75 |
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$ |
0.51 |
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Weighted average common shares outstanding: |
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Basic |
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32,918 |
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31,617 |
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32,876 |
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31,670 |
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Diluted |
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35,161 |
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34,290 |
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35,289 |
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34,279 |
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TYLER TECHNOLOGIES, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Amounts in thousands, except per share amounts)
(Unaudited)
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2014 |
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2013 |
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2014 |
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2013 |
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Reconciliation of non-GAAP gross profit and margin |
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GAAP gross profit |
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$ |
58,558 |
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$ |
47,042 |
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$ |
111,088 |
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$ |
90,887 |
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Non-GAAP adjustments: |
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Add: Share-based compensation expense included in cost of revenues |
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513 |
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343 |
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1,026 |
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|
679 |
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Add: Amortization of acquired software |
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444 |
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523 |
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925 |
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1,072 |
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Non-GAAP gross profit |
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$ |
59,515 |
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$ |
47,908 |
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$ |
113,039 |
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$ |
92,638 |
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Non-GAAP gross margin |
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47.9 |
% |
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46.5 |
% |
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47.7 |
% |
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46.6 |
% |
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Reconciliation of non-GAAP operating income and margin |
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GAAP operating income |
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$ |
23,622 |
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$ |
15,349 |
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$ |
43,484 |
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$ |
29,819 |
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Non-GAAP adjustments: |
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Add: Share-based compensation expense |
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3,539 |
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|
2,903 |
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|
7,002 |
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|
|
5,478 |
|
Add: Employer portion of payroll tax related to employee stock transactions |
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|
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|
|
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|
24 |
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Add: Amortization of acquired software |
|
|
444 |
|
|
|
523 |
|
|
|
925 |
|
|
|
1,072 |
|
Add: Amortization of customer and trade name intangibles |
|
|
1,128 |
|
|
|
1,128 |
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|
|
2,257 |
|
|
|
2,259 |
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|
|
|
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|
|
Non-GAAP adjustments subtotal |
|
$ |
5,111 |
|
|
$ |
4,554 |
|
|
$ |
10,208 |
|
|
$ |
8,809 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating income |
|
$ |
28,733 |
|
|
$ |
19,903 |
|
|
$ |
53,692 |
|
|
$ |
38,628 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating margin |
|
|
23.1 |
% |
|
|
19.3 |
% |
|
|
22.7 |
% |
|
|
19.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of non-GAAP net income and earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income |
|
$ |
14,740 |
|
|
$ |
9,047 |
|
|
$ |
26,623 |
|
|
$ |
17,540 |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Total non-GAAP adjustments to operating income |
|
|
5,111 |
|
|
|
4,554 |
|
|
|
10,208 |
|
|
|
8,809 |
|
Less: Tax impact related to non-GAAP adjustments |
|
|
(1,485 |
) |
|
|
(1,375 |
) |
|
|
(3,025 |
) |
|
|
(2,654 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income |
|
$ |
18,366 |
|
|
$ |
12,226 |
|
|
$ |
33,806 |
|
|
$ |
23,695 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings per diluted share |
|
$ |
0.52 |
|
|
$ |
0.36 |
|
|
$ |
0.96 |
|
|
$ |
0.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Detail of share-based compensation expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of software services, maintenance and subscriptions |
|
$ |
513 |
|
|
$ |
343 |
|
|
$ |
1,026 |
|
|
$ |
679 |
|
Selling, general and administrative expenses |
|
|
3,026 |
|
|
|
2,560 |
|
|
|
5,976 |
|
|
|
4,799 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total share-based compensation expense |
|
$ |
3,539 |
|
|
$ |
2,903 |
|
|
$ |
7,002 |
|
|
$ |
5,478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of adjusted EBITDA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income |
|
$ |
14,740 |
|
|
$ |
9,047 |
|
|
$ |
26,623 |
|
|
$ |
17,540 |
|
Amortization of customer and trade name intangibles |
|
|
1,128 |
|
|
|
1,128 |
|
|
|
2,257 |
|
|
|
2,259 |
|
Depreciation and other amortization included in cost of revenues, SG&A and other expenses |
|
|
2,497 |
|
|
|
2,231 |
|
|
|
5,024 |
|
|
|
4,422 |
|
Interest expense included in other expense, net |
|
|
144 |
|
|
|
164 |
|
|
|
287 |
|
|
|
374 |
|
Income tax provision |
|
|
8,666 |
|
|
|
6,006 |
|
|
|
16,386 |
|
|
|
11,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
|
$ |
27,175 |
|
|
$ |
18,576 |
|
|
$ |
50,577 |
|
|
$ |
36,240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation expense |
|
|
3,539 |
|
|
|
2,903 |
|
|
|
7,002 |
|
|
|
5,478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
$ |
30,714 |
|
|
$ |
21,479 |
|
|
$ |
57,579 |
|
|
$ |
41,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TYLER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2014 |
|
|
2013 |
|
ASSETS |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
88,092 |
|
|
$ |
78,876 |
|
Short-term investments available-for-sale |
|
|
800 |
|
|
|
|
|
Accounts receivable, net |
|
|
144,234 |
|
|
|
106,570 |
|
Other current assets |
|
|
20,147 |
|
|
|
24,030 |
|
Deferred income taxes |
|
|
7,759 |
|
|
|
7,759 |
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
|
261,032 |
|
|
|
217,235 |
|
Accounts receivable, long-term portion |
|
|
1,127 |
|
|
|
588 |
|
Property and equipment, net |
|
|
67,160 |
|
|
|
64,844 |
|
Non-current investments available-for-sale |
|
|
|
|
|
|
1,288 |
|
Other assets: |
|
|
|
|
|
|
|
|
Goodwill and other intangibles, net |
|
|
156,815 |
|
|
|
159,997 |
|
Other |
|
|
683 |
|
|
|
536 |
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
486,817 |
|
|
$ |
444,488 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
$ |
31,186 |
|
|
$ |
35,372 |
|
Deferred revenue |
|
|
184,578 |
|
|
|
156,738 |
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
215,764 |
|
|
|
192,110 |
|
Deferred income taxes |
|
|
4,574 |
|
|
|
6,059 |
|
Shareholders equity |
|
|
266,479 |
|
|
|
246,319 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and shareholders equity |
|
$ |
486,817 |
|
|
$ |
444,488 |
|
|
|
|
|
|
|
|
|
|
TYLER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, |
|
|
|
2014 |
|
|
2013 |
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
Net income |
|
$ |
26,623 |
|
|
$ |
17,540 |
|
Adjustments to reconcile net income to cash provided by operations: |
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
7,281 |
|
|
|
6,681 |
|
Share-based compensation expense |
|
|
7,002 |
|
|
|
5,478 |
|
Excess tax benefit from exercise of share-based arrangements |
|
|
(3,206 |
) |
|
|
(5,661 |
) |
Changes in operating assets and liabilities, exclusive of effects of acquired companies |
|
|
(8,872 |
) |
|
|
(7,452 |
) |
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
|
|
28,828 |
|
|
|
16,586 |
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Proceeds from sales of investments |
|
|
8 |
|
|
|
25 |
|
Cost of acquisitions, net of cash acquired |
|
|
|
|
|
|
(181 |
) |
Additions to property and equipment |
|
|
(6,477 |
) |
|
|
(13,839 |
) |
Decrease in other |
|
|
335 |
|
|
|
295 |
|
|
|
|
|
|
|
|
|
|
Net cash used by investing activities |
|
|
(6,134 |
) |
|
|
(13,700 |
) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Purchase of treasury shares |
|
|
(22,815 |
) |
|
|
|
|
Contributions from employee stock purchase plan |
|
|
2,014 |
|
|
|
1,634 |
|
Proceeds from exercise of stock options |
|
|
4,117 |
|
|
|
4,481 |
|
Decrease in net borrowings on revolving line of credit |
|
|
|
|
|
|
(18,000 |
) |
Excess tax benefit from exercises of share-based arrangements |
|
|
3,206 |
|
|
|
5,661 |
|
|
|
|
|
|
|
|
|
|
Net cash used by financing activities |
|
|
(13,478 |
) |
|
|
(6,224 |
) |
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
|
|
9,216 |
|
|
|
(3,338 |
) |
Cash and cash equivalents at beginning of period |
|
|
78,876 |
|
|
|
6,406 |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period |
|
$ |
88,092 |
|
|
$ |
3,068 |
|
|
|
|
|
|
|
|
|
|
Grafico Azioni Tyler Technologies (NYSE:TYL)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Tyler Technologies (NYSE:TYL)
Storico
Da Lug 2023 a Lug 2024