Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Condensed Consolidated Statements Of Income And Comprehensive Income        
REVENUE $ 3,237,000 $ 34,326,000 $ 14,320,000 $ 59,963,000
OPERATING EXPENSES:        
Costs of revenue 964,000 16,943,000 4,339,000 24,183,000
Professional fees and related costs 534,000 633,000 1,154,000 1,458,000
General and administrative 434,000 428,000 1,358,000 1,256,000
Amortization of patents 50,000 49,000 150,000 760,000
Stock-based compensation 237,000 189,000 711,000 233,000
Contingent patent cost 500,000
TOTAL OPERATING EXPENSES 2,219,000 18,242,000 7,712,000 28,390,000
OPERATING INCOME 1,018,000 16,084,000 6,608,000 31,573,000
OTHER INCOME:        
Interest income, net 55,000 24,000 89,000 50,000
INCOME BEFORE INCOME TAXES 1,073,000 16,108,000 6,697,000 31,623,000
INCOME TAXES:        
Current 425,000 3,817,000 2,198,000 4,198,000
Deferred taxes, net 1,459,000 39,000 4,543,000
Total income taxes 425,000 5,276,000 2,237,000 8,741,000
NET INCOME $ 648,000 $ 10,832,000 $ 4,460,000 $ 22,882,000
Net Income Per Share        
Basic $ 0.03 $ 0.46 $ 0.18 $ 0.98
Diluted $ 0.02 $ 0.43 $ 0.17 $ 0.93
Weighted average common shares outstanding:        
Basic 24,150,388 23,320,514 24,185,129 23,291,408
Diluted 26,412,139 25,198,142 26,480,084 24,700,784
Cash dividends declared per share $ 0.05 $ 0.10
NET INCOME $ 648,000 $ 10,832,000 $ 4,460,000 $ 22,882,000
OTHER COMPREHENSIVE INCOME:        
Unrealized holding gain (loss) on securities available-for-sale arising during the period (2,000) (4,000) (1,000) 39,000
COMPREHENSIVE INCOME $ 646,000 $ 10,828,000 $ 4,459,000 $ 22,921,000