Profile: 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
NIC Inc. (NIC), incorporated on June 8, 1990, is a provider of eGovernment services that assists governments use the Internet. The Company operates in two segments: outsourced portal businesses segment and software & services segment. The outsourced portal businesses segment includes its subsidiaries that operate outsourced government portals and the corporate divisions that support portal operations. The software & services segment primarily includes NIC’s subsidiaries that provide software development and services other than portal outsourcing services to state and local governments, and provides software development and services to federal agencies. The Company’s software & services businesses operate primarily through its NIC Technologies subsidiary, which provides software development and services, other than enterprise-wide outsourced portal services, to state and local governments as well as federal agencies.
Portal Outsourcing
The Company works with its state and local government partners to develop and manage Internet-based portals to deliver eGovernment services to their constituents. Its portals are designed to provide access to government information and services and include a range of fee-based transaction services and applications that the Company has developed. These fee-based services and applications allow businesses and citizens to access constantly changing government information and to file necessary government documents. NIC also provide industry- compliant payment processing systems that accommodate credit/debit cards and electronic checks, as applicable.
Some of the online services the Company offers in different jurisdictions include Motor Vehicle Driver History Record Retrieval; Vehicle Title, Lien and Registration; Health Professional License Services; Secretary of State Business Searches; Payment Processing; Uniform Commercial Code (UCC) Searches and Filings; Professional License Renewal; Driver’s License Renewal; Limited Criminal History Searches; Income and Property Tax Payments; Hunting and Fishing Licenses, Business Registrations and Renewals, and Motor Vehicle Inspections. In addition to these services, the Company also provides customer service and support. The Company in its outsourced state and local portal businesses, the Company derives revenue from three sources: transaction-based fees, time and material based fees for application development and fixed fees for portal management services. In the outsourced portal businesses, revenues are generated from transactions, which include the collection of transaction-based and subscription fees from users. NIC offers access to motor vehicle driver history.
Software & Services Businesses
NIC Technologies derives a portion of its revenues from a contract with the Federal Motor Carrier Safety Administration (FMCSA) to develop and manage the FMCSA’s Pre-Employment Screening Program (PSP) for motor carriers, using a self-funded, transaction-based business model. NIC Technologies recognizes revenues from this contract (primarily transaction-based information access fees) when the services are provided. NIC Technologies also derives a portion of its revenues from fixed fee and time and materials application development and outsourced maintenance contracts with the FEC and the state of Michigan and recognizes revenues as services are provided.
The Company competes with CGI, Unisys, Microsoft, Oracle, IBM Corp., Accenture,Ltd, Maximus, Inc., Official Payments Holdings, Inc. and Link2Gov Corp.
Company Address
NIC Inc
Suite 300, 25501 West Valley Par
OLATHE KS 66061
P: +1877.2343468
F: +1913.4983472
Company Web Links
| Name | Compensation |
|---|---|
Harry Herington |
1,619,170 |
Stephen Kovzan |
827,402 |
Robert Knapp |
867,402 |
William Bradley |
827,402 |
Ron Thornburgh |
417,209 |

