Key Developments: NIC Inc (EGOV.OQ)
19.16USD
1 Aug 2013
$0.74 (+4.02%)
$18.42
$18.45
$19.30
$18.45
175,569
105,931
$19.34
$13.20
Latest Key Developments (Source: Significant Developments)
NIC Inc Issues FY 2013 Guidance; Earnings Guidance Below Analysts' Estimates
NIC Inc announced that for fiscal 2013, it expects total revenues of $232.0 - $238.5 million, operating income to range from $45.2 - $49.2 million and net income of $27.0 - $29.6 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $236.7 million, operating income of $51.0 million and net income of $30.1 million for fiscal 2013. Full Article
NIC Inc Secures eGovernment Services Contract
NIC Inc announced that Pennsylvania becomes the latest state to contract with the Company for self-funded online government services. The Commonwealth of Pennsylvania awarded NIC a five-year contract with an additional renewal term at the option of the state that could extend the contract through December 2022. Through its Harrisburg-based subsidiary, Pennsylvania Interactive, NIC will develop citizen and business-driven eGovernment services that will provide for more accessible, efficient, and innovative interactions with the Commonwealth. Full Article
Maryland Awards eGovernment Services Contract To NIC, Inc.; Raises FY 2012 Guidance
NIC, Inc. announced that Maryland becomes the latest state to contract with the Company for self-funded online government services. Agreements were recently finalized securing the initial primary funding source for the contract. This concludes the process that began with a competitive bid through which the State of Maryland awarded NIC a five-year contract with three additional one-year renewal terms at the option of the state that will run through August 2019. The Company announced that for fiscal 2012, it expects total revenues of $202.0-$207.5 million, with portal revenues ranging from $191.3-$196.3 million and software & services revenues ranging from $10.7-$11.2 million. The Company also currently expects operating income to range from $38.0-$41.5 million and net income of $22.0-$24.0 million. The remaining fiscal 2012 financial guidance issued by NIC on February 2, 2012 is not changed. The revised fiscal 2012 projections do not include revenues and operating expenses from any unannounced contracts. According to I/B/E/S estimates, analysts were expecting the Company to report revenue of $204.5 million and net income of $24.0 million for fiscal 2012. Full Article
NIC, Inc. Issues FY 2012 Guidance; Earnings Guidance Below Analysts' Estimates
NIC, Inc. announced that for fiscal 2012, it expects total revenues of $199.5 - $204.5 million, with portal revenues ranging from $188.8 - $193.3 million and software & services revenues ranging from $10.7 - $11.2 million. The Company also currently expects operating income to range from $37.5 - $40.5 million and net income of $21.5 - $23.5 million. According to I/B/E/S estimates, analysts were expecting the Company to report revenue of $210 million, operating income of $44.29 million and net income of $26.6 million for fiscal 2012. Full Article
Oregon Signs Long-Term Contract With NIC, Inc.'s NICUSA, Inc. To Manage Official State Web Portal
NIC, Inc. announced that the state of Oregon has signed agreements with the Company`s wholly owned subsidiary, NICUSA, Inc., to provide eGovernment services and manage the state`s official web portal. The agreements, which extend for 10 years through 2021, secure the primary funding source for the engagement, concluding a competitive bid process. Full Article
NIC, Inc. Declares Special Cash Dividend Of $0.25 Per Share
NIC, Inc. announced that its Board of Directors declared a special cash dividend of $0.25 per share on October 24, 2011, payable on January 3, 2012, to stockholders of record on December 19, 2011. The dividend payout will total approximately $16.2 million based on the current number of shares outstanding. Full Article
NIC, Inc. Secures eGovernment Services Contract From Delaware
NIC, Inc. announced that Delaware becomes the latest state to contract with the company for eGovernment services. The agreement was recently finalized securing the primary funding source for the contract, which concludes the process that began with a competitive bid. The State of Delaware awarded Delaware Interactive, LLC, a Dover-based subsidiary of NIC, a three-year contract with three one-year renewals that will run through September 2017. Full Article
NIC, Inc. Reaches Settlement Terms In Derivative Action Lawsuit
NIC, Inc. announced that it has posted on its website and will mail to stockholders notice of the terms of a proposed settlement in the derivative action lawsuit filed against certain officers and directors and former officers and directors, Sidore v. Bradley, et al., Civil Action No. 2:10-cv-02466-JWL-DJW (D. Kan.). The stockholder derivative action was filed in August 2010 in federal district court in Kansas. The settlement is subject to final approval by the United States District Court for the District of Kansas at a scheduled hearing on October 11, 2011 in Kansas City, Kansas. If the Court formally approves the parties’ settlement, NIC will implement or maintain certain corporate governance procedures, pay counsel for the plaintiff attorneys’ fees and expenses in the amount of $495,000, and pay the plaintiff $5,000. In exchange, the defendants will be released from all claims made against them or that could have been made against them in the derivative lawsuit, and the lawsuit will be dismissed with prejudice. The Company expects that its $5,000 and $495,000 payments to plaintiff and his counsel will be reimbursed by the Company’s Directors' and Officers' liability insurance carrier. If the settlement is approved, the Company will also receive a $225,000 payment from its former CEO, Jeff Fraser, and agree to a comprehensive mutual release of claims as between the Company and Mr. Fraser. Full Article
CITIC, Temasek group to buy Chinese software firm Asiainfo
HONG KONG - A consortium comprising China's CITIC Capital and Singapore state investor Temasek Holdings has agreed to buy Asiainfo-Linkage Inc for about $900 million, joining a growing number of buyouts of U.S.-listed Chinese companies.

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