NIC reports fourth-quarter increases in profit and revenue

NIC Inc., which provides governments with websites, online payment programs and other electronic services, on Thursday reported increases in fourth-quarter profit and revenue.

For the three months that ended Dec. 31, the Olathe-based company earned $8.3 million on total revenue of $66 million. That compared with net income of $6.2 million on revenue of $60.8 million in the same period in 2013. The 2013 results included $2.5 million in legal fees and other costs.

For the year, NIC earned $39.1 million on revenue of $272.1 million, up from a profit of $32 million on revenue of $249.2 million.

NIC also said it received contract extensions from several states late last year.

“Contract renewals represent a vote of confidence in our model, the innovation we deliver and the service our team provides,” Harry Herington, NIC’s chief executive and chairman, said in the earnings release.

This story was originally published February 5, 2015 at 4:11 PM with the headline "NIC reports fourth-quarter increases in profit and revenue."