Interim Consolidated Financial Statements (Tables)

9 Months Ended

Sep. 30, 2018

Summary Of Significant Accounting Policy [Line Items]

Summary of Effect of Adopting ASC 606 on Company's Financial Statements

The following tables summarize the effect of adopting ASC 606 on the Company’s financial statements during and as of the three and nine months ended September 30, 2018 (in thousands):

Consolidated Balance Sheet
	As of September 30, 2018
			Amounts as
			if Previous
			Guidance in
	As Reported		Effect
Accounts receivable, net	$	38,552	$	41,837
Deferred commissions		10,884		10,284
Prepaid expenses and other current assets		13,292		17,966
Total current assets		207,180		214,539
Other assets		8,417		7,855
Total assets		328,494		335,291

Deferred revenue	$	128,435	$	138,060
Total current liabilities		170,311		179,936
Total liabilities		181,664		191,289
Retained earnings		126,006		123,178
Total stockholders’ equity		146,830		144,002
Total liabilities and stockholders’ equity		328,494		335,291

Consolidated Statement of Income
	Three Months Ended September 30, 2018
			Amounts as
			if Previous
			Guidance in
	As Reported		Effect
Revenues:
Research services	$	56,332	$	55,719
Advisory services and events		28,558		28,287
Total revenues		84,890		84,006
Operating expenses:
Cost of services and fulfillment		34,361		34,838
Selling and marketing		31,051		30,871
Total operating expenses		79,948		80,245
Income from operations		4,942		3,761
Income before income taxes		5,244		4,063
Income tax provision		1,294		927
Net income		3,950		3,136
Basic income per common share	$	0.22	$	0.17
Diluted income per common share	$	0.21	$	0.17

Consolidated Statement of Income
	Nine Months Ended September 30, 2018
			Amounts as
			if Previous
			Guidance in
	As Reported		Effect
Revenues:
Research services	$	166,332	$	167,429
Advisory services and events		92,660		93,051
Total revenues		258,992		260,480
Operating expenses:
Cost of services and fulfillment		107,537		107,841
Selling and marketing		96,771		96,502
Total operating expenses		245,311		245,346
Income from operations		13,681		15,134
Income before income taxes		14,091		15,544
Income tax provision		4,086		4,564
Net income		10,005		10,980
Basic income per common share	$	0.55	$	0.61
Diluted income per common share	$	0.55	$	0.60

Consolidated Statement of Comprehensive Income
	Three Months Ended September 30, 2018
			Amounts as
			if Previous
			Guidance in
	As Reported		Effect
Net income	$	3,950	$	3,136
Comprehensive income		3,413		2,599

Consolidated Statement of Comprehensive Income
	Nine Months Ended September 30, 2018
			Amounts as
			if Previous
			Guidance in
	As Reported		Effect
Net income	$	10,005	$	10,980
Comprehensive income		7,724		8,698

Consolidated Statement of Cash Flows
	Nine Months Ended September 30, 2018
				Amounts as
				if Previous
				Guidance in
	As Reported			Effect
Cash flows from operating activities:
Net income	$	10,005		$	10,980
Accounts receivable		31,857			28,572
Deferred commissions		3,716			3,447
Prepaid expenses and other current assets		(68	)		714
Deferred revenue		(8,205	)		(6,408	)