NIC Inc. (NASDAQ:EGOV) Q2 2017 Earnings Conference Call - Final Transcript

Aug 02, 2017 • 04:30 pm ET

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NIC Inc. (NASDAQ:EGOV) Q2 2017 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day and welcome to the NIC Inc's 2017 Second Quarter Earnings Announcement. Today's conference is being recorded. At this time, I would like to turn the conference over to Angela Davied, VP of Corporate Communications. Please go ahead.

Executive
Angela Davied

Thank you, Vicki. Good afternoon, everyone and welcome to NIC's Second Quarter Earnings Call. The press release for NIC's second quarter 2017 earnings announcement was issued 30 minutes ago. Our earnings release is also available on our corporate website at egov.com/investor-relations. You may also call our headquarters at 877-234-3468 and we will email the information to you. Following a reading of our cautionary statement regarding forward-looking information, CEO, Harry Herington, Chief Operating Officer, Robert Knapp, and Steve Kovzan, NIC's Chief Financial Officer will deliver prepared remarks. Then we will open for questions.

Any statements made during this call that do not relate to historical or current facts constitute forward-looking statements. These statements include estimates, projections, the expected length of contract terms, statements relating to the company's business plans, objectives and expected operating results, statements relating to possible future dividends, and other possible future events, 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, including 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 and to sign contracts with new states and federal government agencies 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 Caution 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 website at sec.gov. Any forward-looking statements made during this call speak only as of the date of this call. We undertake no obligation to update or revise publicly any forward-looking statements whether as a result of new information, future events or otherwise.

Now it's my pleasure to introduce Harry Herrington, NIC's Chief Executive Officer and Chairman of the Board.

Executive
Harry Herington

Thank you, Angela. Welcome to our second quarter earnings call. I'm starting the call today with a topic on the lot of peoples' mind. The Texas Request For Offer or RFO, which is released recently and is known as Texas.gov 3.0. It is our long standing policy not to comment on open procurement and we will observe this policy with the Texas RFO.

However, I think it's important to mention a couple of key points. First I will say that this is a rebid as part of the standard mandatory rebid process all contracts must go through once they reach the end of