Needham & Company Cuts Tyler Technologies' (TYL) Price Target to Reflect Slower Growth Rate
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Tyler Technologies Reports Earnings For Fourth Quarter 2015
February 17, 2016 4:17 PM ESTQuarterly adjusted EBITDA grew 31 percent
PLANO, Texas--(BUSINESS WIRE)-- Tyler Technologies, Inc. (NYSE: TYL) today announced financial results for the fourth quarter and year ended December 31, 2015.
Fourth Quarter 2015 Financial Highlights:
Total revenue was $158.9 million, up 24.7 percent from $127.4 million for the fourth quarter of 2014. Organic growth was 15.3 percent. Recurring revenue from maintenance and subscriptions was $98.4 million, an increase of 23.7 percent compared to the fourth quarter of 2014, and comprised 61.9 percent of fourth quarter 2015 revenue. Operating income was $19.8 million, a decrease of 19.6 percent from... More