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QUARTERLY RESULTS OF OPERATIONS | 12 Months Ended
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Dec. 31, 2019
Selected Quarterly Financial Information [Abstract] |
QUARTERLY RESULTS OF OPERATIONS | QUARTERLY RESULTS OF OPERATIONS The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2019 and 2018. Information about prior period acquisitions and the adoption of recent accounting pronouncements that may affect the comparability of the quarterly financial information presented below are included in Note 2 and Note 4.
| 2019
| Mar. 31 |  | Jun. 30 |  | Sep. 30 |  | Dec. 31
Revenues | $ | 328,425 |  |  | $ | 343,760 |  |  | $ | 352,808 |  |  | $ | 374,726 |
Cost of revenues | 71,153 |  |  | 71,918 |  |  | 71,172 |  |  | 74,996 |
Gross profit | 257,272 |  |  | 271,842 |  |  | 281,636 |  |  | 299,730 |
Operating expenses | 163,780 |  |  | 197,042 |  |  | 187,367 |  |  | 198,744 |
Income from operations | 93,492 |  |  | 74,800 |  |  | 94,269 |  |  | 100,986 |
Interest and other income | 4,945 |  |  | 5,913 |  |  | 5,358 |  |  | 13,801 |
Interest and other expense | (732 | ) |  | (697 | ) |  | (704 | ) |  | (482 | )
Income before income taxes | 97,705 |  |  | 80,016 |  |  | 98,923 |  |  | 114,305 |
Income tax expense | 12,536 |  |  | 16,768 |  |  | 20,304 |  |  | 26,378 |
Net income | $ | 85,169 |  |  | $ | 63,248 |  |  | $ | 78,619 |  |  | $ | 87,927 |
Net income per share — basic | $ | 2.35 |  |  | $ | 1.74 |  |  | $ | 2.16 |  |  | $ | 2.42 |
Net income per share — diluted | $ | 2.33 |  |  | $ | 1.73 |  |  | $ | 2.15 |  |  | $ | 2.39 |
| 2018
| Mar. 31 |  | Jun. 30 |  | Sep. 30 |  | Dec. 31
Revenues | $ | 273,718 |  |  | $ | 297,018 |  |  | $ | 305,525 |  |  | $ | 315,571 |
Cost of revenues | 62,477 |  |  | 67,136 |  |  | 72,072 |  |  | 68,248 |
Gross profit | 211,241 |  |  | 229,882 |  |  | 233,453 |  |  | 247,323 |
Operating expenses | 157,796 |  |  | 186,108 |  |  | 162,765 |  |  | 141,666 |
Income from operations | 53,445 |  |  | 43,774 |  |  | 70,688 |  |  | 105,657 |
Interest and other income | 2,987 |  |  | 2,652 |  |  | 3,035 |  |  | 4,607 |
Interest and other expense | (690 | ) |  | (728 | ) |  | (717 | ) |  | (695 | )
Income before income taxes | 55,742 |  |  | 45,698 |  |  | 73,006 |  |  | 109,569 |
Income tax expense | 3,511 |  |  | 1,863 |  |  | 14,247 |  |  | 26,060 |
Net income | $ | 52,231 |  |  | $ | 43,835 |  |  | $ | 58,759 |  |  | $ | 83,509 |
Net income per share — basic | $ | 1.46 |  |  | $ | 1.22 |  |  | $ | 1.63 |  |  | $ | 2.31 |
Net income per share — diluted | $ | 1.44 |  |  | $ | 1.20 |  |  | $ | 1.61 |  |  | $ | 2.29 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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