Key Developments For NIC Inc
NIC Inc (EGOV.O) (Nasdaq)
NIC, Inc. To Meet Or Exceed Prior FY 2009 Guidance
NIC, Inc. announced that it is on track to comfortably meet or exceed the top end of fiscal 2009 financial guidance for revenue, operating income and net income.
Federal Department of Transportation Awards NIC, Inc.'s NIC Technologies With Contract For National Motor Carrier Pre-Employment Screening System
NIC, Inc. announced that The U.S. Department of Transportation, Federal Motor Carrier Safety Administration (FMCSA), has awarded NIC Technologies, LLC, the contract for a National Motor Carrier Pre-Employment Screening System. NIC Technologies is part of the NIC Inc. family of companies. The contract has an initial one-year term, with four, single-year renewals. The system will be developed and maintained using a self-funded, transaction-based model. It is anticipated that users of the service will pay a subscription fee of $100 per year and a $10 transaction fee for each record pulled. There will be additional fees for records requested via fax or mail. Individual drivers requesting their own record will not be subject to any subscription fee.
The Commonwealth of Kentucky Signs New Long Term eGovernment Portal Contract with NIC, Inc.'s Kentucky Interactive, LLC
NIC, Inc.'s Kentucky Interactive, LLC., announced that The Commonwealth of Kentucky has signed a new long-term contract with Kentucky Interactive, LLC., to manage its official state Web portal (http://www.kentucky.gov) for up to six years. The contract includes an initial three-year term and three single-year renewal options that run through September 2016. Kentucky Interactive signed its original multiyear contract with Kentucky in 2003. After fulfilling the original contract, the state issued a competitive bid for eGovernment portal services in December 2008 and the contract was awarded again to Kentucky Interactive.
NIC, Inc. Issues FY 2009 Guidance; Revenue Guidance Above Analysts' Estimates; EBIT Guidance Below Analysts' Estimates
NIC, Inc. updated its fiscal 2009 guidance to reflect the recently acquired Texas portal contract, a partial year of start-up operations from the New Mexico portal contract, lower portal management revenues from the Arizona portal contract, as a result of a state-mandated budget reduction that commenced in the first quarter of 2009, and lower portal transactional revenues in the second half of the year due to normal seasonality. For fiscal 2009, NIC, Inc. currently expects total revenues to be in the range of $128.0-$130.0 million and expects operating income (EBIT) to range from $19.0- $20.6 million and net income of $12.1-$13.1 million. According to Reuters Estimates, analysts are expecting the Company to report EBIT of $21.6 million, net profit of $12.9 million on revenues of $121.2 million.
Texas Signs New Long Term Contract With NIC, Inc.'s NICUSA, LLC To Manage Official State Portal
NIC, Inc.'s NICUSA, LLC announced that The state of Texas has signed a new seven-year contract to manage TexasOnline 2.0, the official government portal for the state of Texas. The state of Texas issued a Request for Offers for its official state portal and awarded the contract to Texas NICUSA following a nine-month competitive procurement. The new contract was awarded on July 31, 2009.
