Operating income was $10.3 million, and our operating margin was 13% for the quarter versus $6.6 million and 10.3% for the same quarter last year. The excess margin over our guidance was due to slightly higher recurring revenues coupled with lower costs. Net income was $5.9 million or $0.21 per diluted share compared with $3.8 million and $0.14 per diluted share for the same quarter last year. Our non-GAAP income tax rate for the quarter was 42%.Turning to the balance sheet. Total cash and investments and marketable securities were $73.1 million. On a year-to-date basis, we generated $22.7 million in cash from operations compared with $15.2 million last year. We purchased $7.4 million in capital expenditures for the first 6 months of this year compared with $7.6 million for the same period last year.
The Ultimate Software Group Management Discusses Q2 2012 Results - Earnings Call Transcript
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