NIC Reports Second Quarter 2019 Results

OLATHE, Kan.--()--NIC Inc. (Nasdaq: EGOV), the leading provider of digital government services, announced results for the second quarter of 2019 that ended June 30, 2019, as compared to the second quarter of 2018.

  • Total revenues of $91.6 million, a 1% decrease, reflecting lower revenues from the new Texas payment processing contract compared to revenues from the legacy Texas contract
  • Operating income of $17.7 million, a 21% decrease, mainly reflecting the Texas contract transition
  • Net income of $14.5 million, a 15% decrease
  • Diluted earnings per share of 21 cents, a 16% decrease. Diluted earnings per share was positively impacted by 1 cent due to the release of reserves for unrecognized income tax benefits resulting from the completion of an IRS examination of the Company's 2016 federal income tax return during the quarter, which resulted in no changes to the Company's previously filed return.
  • Adjusted EBITDA of $22.3 million, a 15% decrease

Additional Financial Highlights:

  • Same state revenues of $74.7 million, a 10% increase
    • Same state transaction-based revenues from Interactive Government Services (IGS) increased 14%
    • Same state transaction-based revenues from Driver History Records (DHR) increased 4%
    • Same state revenues from other services (development services & fixed fee management services) increased 3%
  • State enterprise revenues in the second quarter of 2019 included $8.0 million from the new Texas payment processing contract compared to $18.3 million from the legacy Texas contract in the prior year quarter.
  • Software & Services revenues of $8.7 million, a 47% increase, driven mainly by the new federal Recreation.gov service, as well as increased transaction-based revenues from the federal Pre-Employment Screening Program.
  • On July 29, 2019, the Company’s Board of Directors declared a regular quarterly cash dividend of 8 cents per share, payable to stockholders of record as of September 6, 2019. The dividend, which is expected to total approximately $5.4 million based on the current number of shares outstanding, will be paid on September 20, 2019 out of the Company’s available cash.

“We continued to execute well on our 2019 strategic objectives in the second quarter,” said Harry Herington, NIC’s Chief Executive Officer and Chairman of the Board. “We extended several long-term government partnerships and generated double-digit organic revenue growth in our core business for the second consecutive quarter. Furthermore, we leveraged our recent acquisitions and expanded our vertical solutions in multiple states.”

Operational Highlights:

Several of the Company’s long-term government partners recently extended their relationships with the Company:

  • Following a competitive rebid process, the state of Utah signed a new four-year contract, which includes two three-year renewal options, for a total of 10 years.
  • The Company signed a new two-year contract with the Rhode Island Department of Administration, which includes two one-year renewal options, for a total of four years.
  • The Company's government partner in Arkansas extended its contract with the Company for one year.
  • The Company's government partner in South Carolina extended its contract with the Company for one year. The contract includes a one-year renewal option.
  • The Federal Motor Carrier Safety Administration extended its contract with the Company to provide the Pre-Employment Screening Program for an additional six months. The contract has two sixth-month renewal options remaining.

The Company recently entered into an agreement with the Illinois Department of Innovation and Technology and the Illinois Department of Natural Resources to provide its comprehensive outdoor recreation solution to the state. The Company will provide a new platform that will deliver online and point-of-sale services for hunting and fishing licenses, campsite reservations, and snowmobile and watercraft licenses, among other services. The outdoor recreation agreement is coterminous with the Company’s master agreement with the state for the enterprise licensing and permitting solution.

Following the Company's recent acquisition of Complia, which closed on May 1, 2019, the Company entered into an agreement to provide its cannabis licensing and registration platform to the state of West Virginia. The agreement in West Virginia is for two years.

Updated Full-Year 2019 Outlook:

The Company has updated its full-year 2019 outlook:

  • The Company currently expects total revenues of $347.5-$352.5 million, with state enterprise revenues ranging from $317.0-$320.5 million and software & services revenues ranging from $30.5-$32.0 million. The Company’s previous guidance for total revenues ranged from $333.5-$342.5 million, with state enterprise revenues ranging from $306.0-$314.0 million and software & services revenues ranging from $27.5-$28.5 million
  • The Company now anticipates earnings per share to range from 71-73 cents compared to the previous guidance range of 70-74 cents

The Company’s guidance reflects approximately $1.0 million in revenues and $0.8 million in operating losses (excluding intangible asset amortization expense) relating to the Company’s recent acquisition of Complia. Intangible asset amortization expense relating to the Complia acquisition is currently expected to approximate $0.7 million for 2019. The Company’s guidance also reflects approximately $2.6 million in previously disclosed executive severance costs incurred in the first quarter of 2019, which reduced earnings per share by approximately four cents. In addition, the Company’s guidance reflects approximately $1.2 million in build-out costs for the Company to configure its comprehensive outdoor recreation solution to meet the specific needs of Illinois. The Company’s projections do not include revenues or costs from any unannounced contracts.

Second Quarter Earnings Call and Webcast Details

On July 31, 2019, the Company will host a call to discuss its 2019 second quarter financial and operational results and to answer questions from the investment community. The call may also include a discussion of Company developments, and forward-looking and other material information about business and financial matters.

Dial-In Information

Wednesday, July 31, 2019 at 4:30 p.m. (EDT)

 

Call bridge:

800-204-4368 (U.S. callers) or 323-994-2082 (international callers)

Conference ID:

9229232

Call leaders:

Harry Herington, Chief Executive Officer and Chairman of the Board

 

Steve Kovzan, Chief Financial Officer

Webcast Information

To sign in and listen: The Webcast system is available at http://www.egov.com/investor-relations

A replay of NIC’s second quarter earnings call will be available by visiting http://www.egov.com/investor-relations.

About NIC

NIC Inc. (Nasdaq: EGOV) launched the digital government industry in 1992, and continues to lead it, providing a secure payment engine and thousands of digital government solutions across a network of more than 6,000 federal, state, and local government agencies. In addition, NIC is a leading provider of outdoor recreation solutions, with 1 out of 6 hunting and fishing licenses in the United States sold using an NIC service. The Company launched the nation's first personal assistant for government and comprehensive mobile platform, Gov2Go®, as well as the innovative, data-driven prescription drug monitoring platform, RxGov®. More information is available at www.egov.com.

Non-GAAP Measures

In addition to the results presented in accordance with U.S. GAAP, the Company presents non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin. Adjusted EBITDA is defined as net income excluding interest, income tax expense, depreciation & amortization, stock-based compensation and other significant non-operating or non-recurring items that are considered expenses or income under U.S. GAAP. Adjusted EBITDA margin is defined as adjusted EBITDA divided by total revenues. These measures should be used in addition to, and not as a substitute for, revenues, operating income, operating income margin, net income, earnings per share or other measures of profitability, liquidity or other performance measures computed in accordance with U.S. GAAP. We believe the presentation of adjusted EBITDA and adjusted EBITDA margin is useful to investors and other users as these measures represent key supplemental information to compare and evaluate our core underlying business results over time and with other companies. The non-GAAP measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies. The attached schedule provides a full reconciliation of these non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures. Adjusted EBITDA and adjusted EBITDA margin represent performance measures and are not intended to represent liquidity measures.

Cautionary Statement Regarding Forward-Looking Information

Any statements made in this release that do not relate to historical or current facts constitute forward-looking statements. These statements include statements regarding the Company’s potential financial performance for the 2019 fiscal year or future fiscal years, estimates, projections, the expected length of contract terms, statements relating to the Company’s business plans, objectives and expected operating results, statements relating to potential new contracts or renewals, statements relating to the Company’s expected effective tax rate, statements relating to possible future dividends and share repurchases, and other possible future events, including potential acquisitions, and the assumptions upon which those statements are based. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. These risks include regional or national business, political, economic, competitive, social and market conditions, including various termination rights of the Company and its partners, the ability of the Company to renew existing contracts - in whole or in part, and to sign contracts with new federal, state, and local government agencies, the Company’s ability to identify and acquire suitable acquisition candidates and to successfully integrate any acquired businesses, as well as possible data security incidents. You should not rely on any forward-looking statement as a prediction or guarantee about the future. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the sections titled “Risk Factors” and “Cautions About Forward-Looking Statements” of the Company’s most recent Forms 10-K and 10-Q filed with the SEC. These filings are available at the SEC's web site at www.sec.gov. Any forward-looking statements included in this release speak only as of the date of this release. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

NIC INC.

CONSOLIDATED STATEMENTS OF INCOME AND FINANCIAL SUMMARY

(In thousands, except per share amounts and percentages)

(Unaudited)

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

2019

 

2018

 

2019

 

2018

Revenues:

 

 

 

 

 

 

 

 

State enterprise revenues

 

$

82,829

 

 

$

86,555

 

 

$

160,085

 

 

$

167,346

 

Software & services revenues

 

8,737

 

 

5,943

 

 

16,662

 

 

11,877

 

Total revenues

 

91,566

 

 

92,498

 

 

176,747

 

 

179,223

 

Operating expenses:

 

 

 

 

 

 

 

 

State enterprise cost of revenues, exclusive of depreciation & amortization

 

52,277

 

 

51,711

 

 

100,933

 

 

100,353

 

Software & services cost of revenues, exclusive of depreciation & amortization

 

3,329

 

 

2,235

 

 

6,049

 

 

4,463

 

Selling & administrative

 

8,356

 

 

8,268

 

 

18,320

 

 

15,771

 

Enterprise technology & product support

 

6,745

 

 

5,735

 

 

13,190

 

 

11,382

 

Depreciation & amortization

 

3,130

 

 

2,145

 

 

5,551

 

 

4,210

 

Total operating expenses

 

73,837

 

 

70,094

 

 

144,043

 

 

136,179

 

Operating income

 

17,729

 

 

22,404

 

 

32,704

 

 

43,044

 

Other income:

 

 

 

 

 

 

 

 

Interest income

 

577

 

 

57

 

 

1,181

 

 

58

 

Income before income taxes

 

18,306

 

 

22,461

 

 

33,885

 

 

43,102

 

Income tax provision

 

3,846

 

 

5,450

 

 

7,923

 

 

10,582

 

Net income

 

$

14,460

 

 

$

17,011

 

 

$

25,962

 

 

$

32,520

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$

0.21

 

 

$

0.25

 

 

$

0.38

 

 

$

0.48

 

Diluted net income per share

 

$

0.21

 

 

$

0.25

 

 

$

0.38

 

 

$

0.48

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

Basic

 

66,940

 

 

66,541

 

 

66,806

 

 

66,432

 

Diluted

 

66,940

 

 

66,561

 

 

66,806

 

 

66,447

 

 

 

 

 

 

 

 

 

 

Key financial metrics:

 

 

 

 

 

 

 

 

Total revenue growth

 

(1

)%

 

8

%

 

(1

)%

 

6

%

Recurring revenues as a % of total revenues

 

97

%

 

96

%

 

97

%

 

97

%

State enterprise revenue growth

 

(4

)%

 

9

%

 

(4

)%

 

7

%

Same state revenue growth

 

10

%

 

8

%

 

10

%

 

8

%

Gross profit % - state enterprise

 

37

%

 

40

%

 

37

%

 

40

%

Software & services revenue growth

 

47

%

 

%

 

40

%

 

%

Gross profit % - software & services

 

62

%

 

62

%

 

64

%

 

62

%

Selling & administrative as a % of total revenues

 

9

%

 

9

%

 

10

%

 

9

%

Enterprise technology & product support as a % of total revenues

 

7

%

 

6

%

 

7

%

 

6

%

Operating income as a % of total revenue ("operating margin")

 

19

%

 

24

%

 

19

%

 

24

%

State enterprise revenue analysis:

 

 

 

 

 

 

 

 

IGS

 

$

55,537

 

 

$

55,111

 

 

$

105,691

 

 

$

105,379

 

DHR

 

23,413

 

 

26,645

 

 

47,098

 

 

53,883

 

Development services

 

2,642

 

 

3,562

 

 

4,821

 

 

5,609

 

Fixed-fee management services

 

1,237

 

 

1,237

 

 

2,475

 

 

2,475

 

Total state enterprise revenues

 

$

82,829

 

 

$

86,555

 

 

$

160,085

 

 

$

167,346

 

NIC INC.

CONSOLIDATED BALANCE SHEETS

(In thousands, except par value amount)

(Unaudited)

 

 

 

June 30,
2019

 

December 31,
2018

ASSETS

 

 

 

 

Current assets:

 

 

 

 

Cash

 

$

186,535

 

 

$

191,700

 

Trade accounts receivable, net

 

113,116

 

 

80,904

 

Prepaid expenses & other current assets

 

12,603

 

 

13,730

 

Total current assets

 

312,254

 

 

286,334

 

Property and equipment, net

 

10,956

 

 

10,256

 

Right of use lease assets, net

 

11,924

 

 

 

Intangible assets, net

 

23,195

 

 

13,604

 

Goodwill

 

5,965

 

 

 

Other assets

 

353

 

 

332

 

Total assets

 

$

364,647

 

 

$

310,526

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

Current liabilities:

 

 

 

 

Accounts payable

 

$

83,708

 

 

$

60,092

 

Accrued expenses

 

22,713

 

 

24,150

 

Lease liabilities

 

4,077

 

 

 

Other current liabilities

 

5,441

 

 

4,883

 

Total current liabilities

 

115,939

 

 

89,125

 

 

 

 

 

 

Deferred income taxes, net

 

1,757

 

 

781

 

Lease liabilities

 

8,263

 

 

 

Other long-term liabilities

 

9,346

 

 

8,931

 

Total liabilities

 

135,305

 

 

98,837

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

Common stock, $0.0001 par, 200,000 shares authorized, 66,956 and 66,569 shares issued and outstanding

 

7

 

 

7

 

Additional paid-in capital

 

120,204

 

 

117,763

 

Retained earnings

 

109,131

 

 

93,919

 

Total stockholders' equity

 

229,342

 

 

211,689

 

Total liabilities and stockholders' equity

 

$

364,647

 

 

$

310,526

 

NIC INC.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

(In thousands)

(Unaudited)

 

 

 

June 30, 2019

 

 

Common Stock

 

Additional
Paid-in
Capital

 

Retained
Earnings

 

 

 

 

Shares

 

Amount

 

 

 

Total

Balance, January 1, 2019

 

66,569

 

 

$

7

 

 

$

117,763

 

 

$

93,919

 

 

$

211,689

 

Net income

 

 

 

 

 

 

 

11,502

 

 

11,502

 

Dividends declared

 

 

 

 

 

 

 

(5,402

)

 

(5,402

)

Dividend equivalents on unvested performance-based restricted stock awards

 

 

 

 

 

27

 

 

(27

)

 

 

Dividend equivalents cancelled upon forfeiture of performance-based restricted stock awards

 

 

 

 

 

(122

)

 

122

 

 

 

Restricted stock vestings

 

364

 

 

 

 

 

 

 

 

 

Shares surrendered and cancelled upon vesting of restricted stock to satisfy tax withholdings

 

(153

)

 

 

 

(2,609

)

 

 

 

(2,609

)

Stock-based compensation

 

 

 

 

 

2,272

 

 

 

 

2,272

 

Shares issuable in lieu of dividend payments on unvested performance-based restricted stock awards

 

3

 

 

 

 

 

 

 

 

 

Issuance of common stock under employee stock purchase plan

 

128

 

 

 

 

1,443

 

 

 

 

1,443

 

Balance, March 31, 2019

 

66,911

 

 

7

 

 

118,774

 

 

100,114

 

 

218,895

 

Net income

 

 

 

 

 

 

 

14,460

 

 

14,460

 

Dividends declared

 

 

 

 

 

 

 

(5,416

)

 

(5,416

)

Dividend equivalents on unvested performance-based restricted stock awards

 

 

 

 

 

27

 

 

(27

)

 

 

Restricted stock vestings

 

47

 

 

 

 

 

 

 

 

 

Shares surrendered and cancelled upon vesting of restricted stock to satisfy tax withholdings

 

(2

)

 

 

 

(28

)

 

 

 

(28

)

Stock-based compensation

 

 

 

 

 

1,431

 

 

 

 

1,431

 

Balance, June 30, 2019

 

66,956

 

 

$

7

 

 

$

120,204

 

 

$

109,131

 

 

$

229,342

 

NIC INC.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

(In thousands)

(Unaudited)

 

 

 

June 30, 2018

 

 

Common Stock

 

Additional
Paid-in
Capital

 

Retained
Earnings

 

 

 

 

Shares

 

Amount

 

 

 

Total

Balance, January 1, 2018

 

66,271

 

 

$

7

 

 

$

111,275

 

 

$

56,960

 

 

$

168,242

 

Cumulative effect of adoption of new

accounting standard

 

 

 

 

 

 

 

208

 

 

208

 

Net income

 

 

 

 

 

 

 

15,508

 

 

15,508

 

Dividends declared

 

 

 

 

 

 

 

(5,370

)

 

(5,370

)

Dividend equivalents on unvested performance-based restricted stock awards

 

 

 

 

 

34

 

 

(34

)

 

 

Dividend equivalents cancelled upon forfeiture of performance-based restricted stock awards

 

 

 

 

 

(140

)

 

140

 

 

 

Restricted stock vestings

 

202

 

 

 

 

 

 

 

 

 

Shares surrendered and cancelled upon vesting of restricted stock to satisfy tax withholdings

 

(81

)

 

 

 

(1,132

)

 

 

 

(1,132

)

Stock-based compensation

 

 

 

 

 

1,511

 

 

 

 

1,511

 

Issuance of common stock under employee stock purchase plan

 

122

 

 

 

 

1,382

 

 

 

 

1,382

 

Balance, March 31, 2018

 

66,514

 

 

7

 

 

112,930

 

 

67,412

 

 

180,349

 

Net income

 

 

 

 

 

 

 

17,011

 

 

17,011

 

Dividends declared

 

 

 

 

 

 

 

(5,385

)

 

(5,385

)

Dividend equivalents on unvested performance-based restricted stock awards

 

 

 

 

 

33

 

 

(33

)

 

 

Restricted stock vestings

 

44

 

 

 

 

 

 

 

 

 

Shares surrendered and cancelled upon vesting of restricted stock to satisfy tax withholdings

 

(2

)

 

 

 

(32

)

 

 

 

(32

)

Stock-based compensation

 

 

 

 

 

1,576

 

 

 

 

1,576

 

Balance, June 30, 2018

 

66,556

 

 

$

7

 

 

$

114,507

 

 

$

79,005

 

 

$

193,519

 

NIC INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

 

Six Months Ended
June 30,

 

 

2019

 

2018

Cash flows from operating activities:

 

 

 

 

Net income

 

$

25,962

 

 

$

32,520

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

Depreciation & amortization

 

5,551

 

 

4,210

 

Stock-based compensation expense

 

3,703

 

 

3,087

 

Deferred income taxes

 

976

 

 

614

 

Provision for (recoveries) losses on accounts receivable

 

(148

)

 

343

 

Changes in operating assets and liabilities:

 

 

 

 

Trade accounts receivable, net

 

(31,613

)

 

10,838

 

Prepaid expenses & other current assets

 

1,130

 

 

(170

)

Other assets

 

2,191

 

 

262

 

Accounts payable

 

23,616

 

 

(19,460

)

Accrued expenses

 

(1,439

)

 

(4,393

)

Other current liabilities

 

32

 

 

(209

)

Other long-term liabilities

 

(2,190

)

 

758

 

Net cash provided by operating activities

 

27,771

 

 

28,400

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

Purchases of property and equipment

 

(2,831

)

 

(2,411

)

Business combination

 

(10,000

)

 

 

Asset acquisition

 

(3,486

)

 

 

Capitalized software development costs

 

(4,607

)

 

(3,503

)

Net cash used in investing activities

 

(20,924

)

 

(5,914

)

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

Cash dividends on common stock

 

(10,818

)

 

(10,755

)

Proceeds from employee common stock purchases

 

1,443

 

 

1,382

 

Tax withholdings related to stock-based compensation awards

 

(2,637

)

 

(1,165

)

Net cash used in financing activities

 

(12,012

)

 

(10,538

)

 

 

 

 

 

Net (decrease) increase in cash

 

(5,165

)

 

11,948

 

Cash, beginning of period

 

191,700

 

 

160,777

 

Cash, end of period

 

186,535

 

 

172,725

 

 

 

 

 

 

Other cash flow information:

 

 

 

 

Non-cash investing activities:

 

 

 

 

Contingent consideration - business combination

 

$

960

 

 

$

 

Capital expenditures accrued but not yet paid

 

 

 

166

 

Cash payments:

 

 

 

 

Income taxes paid, net

 

$

6,925

 

 

$

8,883

 

NIC INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(In thousands)

(Unaudited)

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

Reconciliation of net income to Adjusted EBITDA

 

2019

 

2018

 

2019

 

2018

Net income

 

$

14,460

 

 

$

17,011

 

 

$

25,962

 

 

$

32,520

 

Add: Income tax expense

 

3,846

 

 

5,450

 

 

7,923

 

 

10,582

 

Less: Interest income

 

577

 

 

57

 

 

1,181

 

 

58

 

Operating income

 

17,729

 

 

22,404

 

 

32,704

 

 

43,044

 

Add: Depreciation & amortization expense

 

3,130

 

 

2,145

 

 

5,551

 

 

4,210

 

Add: Stock-based compensation expense, inclusive of executive severance (1)

 

1,431

 

 

1,576

 

 

3,703

 

 

3,087

 

Add: Executive severance payments (1)

 

 

 

 

 

1,526

 

 

 

Adjusted EBITDA

 

$

22,290

 

 

$

26,125

 

 

$

43,484

 

 

$

50,341

 

 

 

 

 

 

 

 

 

 

Total Revenues

 

$

91,566

 

 

$

92,498

 

 

$

176,747

 

 

$

179,223

 

 

 

 

 

 

 

 

 

 

Net income as a % of total revenues ("net profit margin")

 

16

%

 

18

%

 

15

%

 

18

%

Adjusted EBITDA as a % of total revenues ("Adjusted EBITDA margin")

 

24

%

 

28

%

 

25

%

 

28

%

 

 

 

 

 

 

 

 

 

Detail of stock-based compensation expense

 

 

 

 

 

 

 

 

State enterprise cost of revenues, exclusive of depreciation & amortization

 

$

395

 

 

$

362

 

 

$

757

 

 

$

805

 

Software & services cost of revenues, exclusive of depreciation & amortization

 

21

 

 

36

 

 

56

 

 

76

 

Selling & administrative

 

857

 

 

1,021

 

 

2,572

 

 

1,858

 

Enterprise technology & product support

 

158

 

 

157

 

 

318

 

 

348

 

Stock-based compensation expense

 

$

1,431

 

 

$

1,576

 

 

$

3,703

 

 

$

3,087

 

(1)

Executive severance expense of $2.6 million related to the departure of the Company's former Chief Operating Officer is included in selling & administrative expense in the consolidated statements of income and financial summary for the six months ended June 30, 2019. These costs consisted of a one-time cash payment of $1.5 million and $1.1 million of stock-based compensation expense associated with the accelerated vesting of certain restricted stock awards. These costs were excluded from Adjusted EBITDA because the Company does not regard these costs as reflective of normal recurring costs to operate its business.

 

Contacts

Steve Kovzan
Chief Financial Officer
(913) 754-7007
stevek@egov.com

Release Summary

NIC Inc. (Nasdaq: EGOV), the leading provider of digital government services, announced results for the second quarter of 2019.

Contacts

Steve Kovzan
Chief Financial Officer
(913) 754-7007
stevek@egov.com