Item 6. SELECTED FINANCIAL DATA.

(In thousands, except per share data)



	FOR THE YEARS ENDED DECEMBER 31,
	2016			2015 (b)			2014			2013			2012
STATEMENT OF OPERATIONS DATA:
Revenues	$	756,043		$	591,022		$	493,101		$	416,643		$	363,304
Cost and expenses:
Cost of revenues	400,692			313,835			259,730			223,440			195,602
Selling, general and administrative expenses	167,161			133,317			108,260			98,289			86,706
Research and development expense	43,154			29,922			25,743			23,269			20,140
Amortization of customer and trade name intangibles	13,731			5,905			4,546			4,517			4,279
Operating income	131,305			108,043			94,822			67,128			56,577
Other (expenses) income, net	(1,998		)	381			(355		)	(1,309		)	(2,709		)
Income before income taxes	129,307			108,424			94,467			65,819			53,868
Income tax provision (a)	19,450			43,555			35,527			26,718			20,874
Net income	109,857			64,869			58,940			39,101			32,994
Net earnings per diluted share	$	2.82		$	1.77		$	1.66		$	1.13		$	1.00
Weighted average diluted shares (a)	38,961			36,552			35,401			34,590			32,916
STATEMENT OF CASH FLOWS DATA:
Cash flows provided by operating activities (a)	$	191,859		$	134,327		$	142,839		$	94,297		$	67,432
Cash flows used by investing activities	(50,720		)	(398,459		)	(11,555		)	(25,658		)	(34,736		)
Cash flows (used) provided by financing activities (a)	(138,075		)	91,052			(3,993		)	3,831			(27,616		)
BALANCE SHEET DATA:
Total assets	$	1,357,945		$	1,356,570		$	569,812		$	444,488		$	338,666
Revolving line of credit	10,000			66,000			—			—			18,000
Shareholders' equity	915,525			858,857			336,973			246,319			145,299

(a) During 2016, we adopted Accounting Standards Update ("ASU") No. 2016-09 "Improvements to Employee Share-Based Payment Accounting" requiring the recognition of excess tax benefits or tax deficiencies as a component of income tax expense; these benefits or deficiencies were historically recognized in equity. As the standard requires a prospective method of adoption, our net income in 2016 includes a $29.6 million income tax benefit due to the adoption that did not occur in the comparable periods presented above. In addition, the ASU updates the method of calculating diluted shares resulting in the inclusion of 519,000 additional shares in our diluted earnings per share calculation that is not comparable to the other periods presented. Refer to Note 1 "Summary of Significant Accounting Policies" for further discussion of this new accounting standard.

The adoption of ASU No. 2016-09 also requires excess tax benefits, previously presented as financing activities, to be classified as operating activities. As retrospective adoption for this component of the standard is allowable, we have adjusted all periods presented above to reflect this change in classification.

(b) On November 16, 2015, we completed the acquisition of New World Systems Corporation ("NWS"). Operating results for the twelve months ended December 31, 2015, include $5.9 million for financial advisory, legal, accounting, due diligence, valuation and other expenses necessary to complete the NWS acquisition as well as $3.5 million amortization expense related to NWS acquisition intangibles.

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