NIC (EGOV) Tops Q2 EPS by 3c, Offers Outlook

NIC (NASDAQ: EGOV) reported Q2 EPS of $0.20, $0.03 better than the analyst estimate of $0.17. Revenue for the quarter came in at $93.6 million versus the consensus estimate of $91.21 million.

GUIDANCE:

NIC sees FY2020 revenue low end of its previously issued guidance for total revenues of $380.5 million, versus the consensus of $379.41 million.

COVID-19 and Updated Full-Year 2020 Outlook:

• NIC continues to evaluate the impact the COVID-19 pandemic may have on its business for the remainder of the year. Based on this ongoing evaluation, the Company continues to expect to come in near the low end of its previously issued guidance for total revenues, which was $380.5 million, adjusted EBITDA, which was $88.5 million, and earnings per share, which was 76 cents. The Company currently expects capital expenditures to range from $5 - $6 million in 2020. The Company’s previous guidance for capitalized software development costs of $9 - $10 million for 2020 remains unchanged.

For earnings history and earnings-related data on NIC (EGOV) click here.

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