MIME-Version: 1.0 X-Document-Type: Workbook Content-Type: multipart/related; boundary="----=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93" This document is a Single File Web Page, also known as a Web Archive file. If you are seeing this message, your browser or editor doesn't support Web Archive files. Please download a browser that supports Web Archive, such as Microsoft Internet Explorer. ------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Workbook.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"

This page should be opened with Microsoft Excel XP or newer.

------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet01.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Document and Entity Information
6 Months Ended
Jun. 30, 2013
Jul. 25, 2013
Document Information [Line Items]
Document Type 10-Q
Amendment Flag false
Document Period End Date Jun 30, 2013
Document Fiscal Year Focus 2013
Document Fiscal Period Focus Q2
Trading Symbol MANH
Entity Registrant Name MANHATTAN ASSOCIATES INC
Entity Central Index Key 0001056696
Current Fiscal Year End Date --12-31
Entity Filer Category Large Accelerated Filer
Entity Common Stock, Shares Outstanding 19,312,084
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet02.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Current Assets:
Cash and cash equivalents $ 98,623 $ 96,737
Short-term investments 7,887 6,310
Accounts receivable, net of allowance of $5,262 and $6,235 in 2013 and 2012, respectively 68,469 62,102
Deferred income taxes 6,915 7,787
Prepaid expenses and other current assets 8,456 8,571
Total current assets 190,350 181,507
Property and equipment, net 14,169 15,650
Goodwill, net 62,262 62,265
Deferred income taxes 678 732
Other assets 1,382 1,659
Total assets 268,841 261,813
Current liabilities:
Accounts payable 7,380 10,229
Accrued compensation and benefits 14,699 16,720
Accrued and other liabilities 9,754 12,233
Deferred revenue 54,494 47,935
Income taxes payable 4,482 4,024
Total current liabilities 90,809 91,141
Other non-current liabilities 10,626 9,163
Shareholders' equity:
Preferred stock, no par value; 20,000,000 shares authorized, no shares issued or outstanding in 2013 and 2012      
Common stock, $.01 par value; 100,000,000 shares authorized; 19,308,861 and 19,620,967 shares issued and outstanding at June 30, 2013 and December 31, 2012, respectively 193 196
Retained earnings 174,768 166,016
Accumulated other comprehensive loss (7,555) (4,703)
Total shareholders' equity 167,406 161,509
Total liabilities and shareholders' equity $ 268,841 $ 261,813
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet03.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Condensed Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Accounts receivable, allowance $ 5,262 $ 6,235
Preferred stock, par value      
Preferred stock, shares authorized 20,000,000 20,000,000
Preferred stock, shares issued      
Preferred stock, shares outstanding      
Common stock, par value $ 0.01 $ 0.01
Common stock, shares authorized 100,000,000 100,000,000
Common stock, shares issued 19,308,861 19,620,967
Common stock, shares outstanding 19,308,861 19,620,967
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet04.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenue:
Software license $ 16,136 $ 15,345 $ 30,381 $ 30,932
Services 78,203 69,322 153,090 139,692
Hardware and other 8,177 8,900 15,646 14,424
Total revenue 102,516 93,567 199,117 185,048
Costs and expenses:
Cost of license 1,937 1,488 3,715 3,265
Cost of services 35,058 30,322 70,104 62,032
Cost of hardware and other 7,023 7,540 13,237 11,988
Research and development 11,032 10,802 22,508 22,353
Sales and marketing 11,888 11,415 23,322 23,818
General and administrative 7,932 9,240 17,440 19,548
Depreciation and amortization 1,459 1,418 2,943 2,762
Total costs and expenses 76,329 72,225 153,269 145,766
Operating income 26,187 21,342 45,848 39,282
Other income, net 1,243 802 1,394 678
Income before income taxes 27,430 22,144 47,242 39,960
Income tax provision 10,023 7,972 16,480 14,386
Net income $ 17,407 $ 14,172 $ 30,762 $ 25,574
Basic earnings per share $ 0.91 $ 0.72 $ 1.6 $ 1.29
Diluted earnings per share $ 0.89 $ 0.7 $ 1.57 $ 1.25
Weighted average number of shares:
Basic 19,222 19,765 19,274 19,834
Diluted 19,509 20,351 19,597 20,494
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet05.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Consolidated Statements of Comprehensive Income (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Net income $ 17,407 $ 14,172 $ 30,762 $ 25,574
Other comprehensive loss, net of tax:
Foreign currency translation adjustment (2,772) (1,822) (2,852) (734)
Unrealized gain on investments, net of tax of $53 92 92
Other comprehensive loss (2,772) (1,730) (2,852) (642)
Comprehensive income $ 14,635 $ 12,442 $ 27,910 $ 24,932
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet06.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2012
Unrealized gain on investments, tax $ 53 $ 53
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet07.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Operating activities:
Net income $ 30,762 $ 25,574
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 2,943 2,762
Equity-based compensation 4,040 3,637
Loss (gain) on disposal of equipment 1 (3)
Tax benefit of stock awards exercised/vested 4,987 4,981
Excess tax benefits from equity-based compensation (4,874) (4,062)
Deferred income taxes 2,265 2,461
Unrealized foreign currency (gain) loss (372) 173
Changes in operating assets and liabilities:
Accounts receivable, net (6,971) (8,206)
Other assets 227 650
Accounts payable, accrued and other liabilities (7,341) (4,056)
Income taxes 887 7,163
Deferred revenue 7,142 2,876
Net cash provided by operating activities 33,696 33,950
Investing activities:
Purchase of property and equipment (1,633) (3,250)
Net (purchases) maturities of investments (2,055) 1,223
Net cash used in investing activities (3,688) (2,027)
Financing activities:
Purchase of common stock (34,902) (50,235)
Proceeds from issuance of common stock from options exercised 3,861 17,933
Excess tax benefits from equity-based compensation 4,874 4,062
Net cash used in financing activities (26,167) (28,240)
Foreign currency impact on cash (1,955) (771)
Net change in cash and cash equivalents 1,886 2,912
Cash and cash equivalents at beginning of period 96,737 92,180
Cash and cash equivalents at end of period $ 98,623 $ 95,092
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet08.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Basis of Presentation and Principles of Consolidation
6 Months Ended
Jun. 30, 2013
Basis of Presentation and Principles of Consolidation
1. Basis of Presentation and Principles of Consolidation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of Manhattan Associates, Inc. and its subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information, with the instructions to Form 10-Q and with Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required for complete financial statements. In the opinion of management, these condensed consolidated financial statements contain all normal recurring adjustments considered necessary for a fair presentation of the Company’s financial position at June 30, 2013, the results of operations for the three and six months ended June 30, 2013 and 2012, and cash flows for the six months ended June 30, 2013 and 2012. The results for the three and six months ended June 30, 2013 are not necessarily indicative of the results to be expected for the full year. These statements should be read in conjunction with the Company’s audited consolidated financial statements and management’s discussion and analysis included in the Company’s annual report on Form 10-K for the year ended December 31, 2012.

Principles of Consolidation

The accompanying condensed consolidated financial statements include the Company’s accounts and the accounts of its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet09.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Revenue Recognition
6 Months Ended
Jun. 30, 2013
Revenue Recognition
2. Revenue Recognition

The Company’s revenue consists of fees from the licensing and hosting of software (collectively included in “Software license” revenue in the Condensed Consolidated Statements of Income), fees from implementation and training services (collectively, “professional services”) and customer support services and software enhancements (collectively included in “Services” revenue in the Condensed Consolidated Statements of Income), and sales of hardware and other revenue, which consists of reimbursements of out-of-pocket expenses incurred in connection with professional services rendered (collectively included in “Hardware and other” revenue in the Condensed Consolidated Statements of Income). All revenue is recognized net of any related sales taxes.

The Company recognizes license revenue when the following criteria are met: (1) a signed contract is obtained covering all elements of the arrangement, (2) delivery of the product has occurred, (3) the license fee is fixed or determinable, and (4) collection is probable. Revenue recognition for software with multiple-element arrangements requires recognition of revenue using the “residual method” when (a) there is vendor-specific objective evidence (VSOE) of the fair values of all undelivered elements in a multiple-element arrangement that is not accounted for using long-term contract accounting, (b) VSOE of fair value does not exist for one or more of the delivered elements in the arrangement, and (c) all other applicable revenue-recognition criteria for software revenue recognition, are satisfied. For those contracts that contain significant customization or modifications, license revenue is recognized using contract accounting.

The Company allocates revenue to customer support services and software enhancements and any other undelivered elements of the arrangement based on VSOE of fair value of each element and such amounts are deferred until the applicable delivery criteria and other revenue recognition criteria have been met. The balance of the revenue, net of any discounts inherent in the arrangement, is recognized at the outset of the arrangement using the residual method as the product licenses are delivered. If the Company cannot objectively determine the fair value of each undelivered element based on the VSOE of fair value, the Company defers revenue recognition until all elements are delivered, all services have been performed, or until fair value can be objectively determined. The Company must apply judgment in determining all elements of the arrangement and in determining the VSOE of fair value for each element, considering the price charged for each product on a stand-alone basis or applicable renewal rates. For arrangements that include future software functionality deliverables, the Company accounts for these deliverables as a separate element of the arrangement. Because the Company does not sell these deliverables on a standalone basis, the Company is not able to establish VSOE of fair value of these deliverables. As a result, the Company defers all revenue under the arrangement until the future functionality has been delivered to the customer.

 

Payment terms for the Company’s software licenses vary. Each contract is evaluated individually to determine whether the fees in the contract are fixed or determinable and whether collectibility is probable. Judgment is required in assessing the probability of collection, which is generally based on evaluation of customer-specific information, historical collection experience, and economic market conditions. If market conditions decline, or if the financial conditions of customers deteriorate, the Company may be unable to determine that collectibility is probable, and the Company could be required to defer the recognition of revenue until the Company receives customer payments. The Company has an established history of collecting under the terms of its software license contracts without providing refunds or concessions to its customers. Therefore, the Company has determined that the presence of payment terms that extend beyond contract execution in a particular contract do not preclude the conclusion that the fees in the contract are fixed or determinable. Although infrequent, when payment terms in a contract extend beyond twelve months, the Company has determined that such fees are not fixed or determinable and recognizes revenue as payments become due provided that all other conditions for revenue recognition have been met.

The Company’s services revenue consists of fees generated from professional services and customer support and software enhancements related to the Company’s software products. Professional services include system planning, design, configuration, testing and other software implementation support and are not typically essential to the functionality of our software. Fees from professional services performed by the Company are separately priced and are generally billed on an hourly basis, and revenue is recognized as the services are performed. In certain situations, professional services are rendered under agreements in which billings are limited to contractual maximums or based upon a fixed-fee for portions of or all of the engagement. Revenue related to fixed-fee based contracts is recognized on a proportional performance basis based on the hours incurred on discrete projects within an overall services arrangement. The Company has determined that output measures, or services delivered, approximate the input measures associated with fixed-fee services arrangements. Project losses are provided for in their entirety in the period in which they become known. Revenue related to customer support services and software enhancements is generally paid in advance and recognized ratably over the term of the agreement, typically twelve months.

Hardware and other revenue is generated from the resale of a variety of hardware products, developed and manufactured by third parties, that are integrated with and complementary to the Company’s software solutions. As part of a complete solution, the Company’s customers periodically purchase hardware from the Company for use with the software licenses purchased from the Company. These products include computer hardware, radio frequency terminal networks, radio frequency identification (RFID) chip readers, bar code printers and scanners, and other peripherals. Hardware revenue is recognized upon shipment to the customer when title passes. The Company generally purchases hardware from the Company’s vendors only after receiving an order from a customer. As a result, the Company generally does not maintain hardware inventory.

In accordance with the other presentation matters within the Revenue Recognition Topic of the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification, the Company recognizes amounts associated with reimbursements from customers for out-of-pocket expenses as revenue. Such amounts have been included in “Hardware and other” revenue in the Condensed Consolidated Statements of Income. The total amount of expense reimbursement recorded to revenue was $3.9 million and $3.2 million for the three months ended June 30, 2013 and 2012, respectively, and $7.2 million and $5.6 million for the six months ended June 30, 2013 and 2012, respectively.

------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet10.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Fair Value Measurement
6 Months Ended
Jun. 30, 2013
Fair Value Measurement
3. Fair Value Measurement

The Company measures its investments based on a fair value hierarchy disclosure framework that prioritizes and ranks the level of market price observability used in measuring assets and liabilities at fair value. Market price observability is affected by a number of factors, including the type of asset or liability and their characteristics. This hierarchy prioritizes the inputs into three broad levels as follows:

 

   

Level 1–Quoted prices in active markets for identical instruments.

 

   

Level 2–Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.

 

   

Level 3–Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

 

The Company’s investments are categorized as available-for-sale securities and recorded at fair market value. Investments with maturities of 90 days or less from the date of purchase are classified as cash equivalents; investments with maturities of greater than 90 days from the date of purchase but less than one year are generally classified as short-term investments; and investments with maturities of one year or greater from the date of purchase are generally classified as long-term investments. Unrealized holding gains and losses are reflected as a net amount in a separate component of shareholders’ equity until realized. For the purposes of computing realized gains and losses, cost is determined on a specific identification basis.

At June 30, 2013, the Company’s cash, cash equivalents, and short-term investments balances were $58.2 million, $40.4 million, and $7.9 million, respectively. The Company currently has no long-term investments. Cash equivalents consist of highly liquid money market funds and certificates of deposit. Short-term investments consist of certificates of deposit. The Company uses quoted prices from active markets that are classified at Level 1 as a highest level observable input in the disclosure hierarchy framework for all available-for-sale securities. At June 30, 2013 and December 31, 2012, the Company had $30.3 million and $35.2 million in money market funds, respectively, which are classified as Level 1 and are included in cash and cash equivalents on the Condensed Consolidated Balance Sheets. The Company has no investments classified as Level 2 or Level 3.

------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet11.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Equity-Based Compensation
6 Months Ended
Jun. 30, 2013
Equity-Based Compensation
4. Equity-Based Compensation

In January 2012, in order to simplify equity grant administration, the Company changed its practice of granting restricted stock in favor of granting restricted stock units, or RSUs, which convert to the Company’s common stock upon vesting. There is no material difference between the grant of restricted stock and the grant of RSUs to either the Company or the recipients receiving the grants; however, in contrast to the granting of restricted stock, no stock will actually be issued under the granting of RSUs until the units vest. The Company does not currently grant stock options.

As previously reported, on December 31, 2012, Mr. Peter F. Sinisgalli stepped down from the role of Chief Executive Officer of the Company and became a non-employee member of the Board of Directors. In March 2013, the Board of Directors, upon the recommendation of the Compensation Committee in recognition of Mr. Sinisgalli’s successful tenure as Chief Executive Officer and the superior performance of the Company under his leadership, approved the vesting of a portion of the equity incentives granted to him during his employment as Chief Executive Officer that were scheduled to vest during the first quarter of 2013. These previously granted incentives included options to acquire 3,750 shares at an exercise price of $15.53 per share and 10,597 shares of restricted stock and RSUs. The Board’s action preserved 22% of Mr. Sinisgalli’s non-vested employee equity value in recognition of his services and contribution, with the remaining 78% forfeited.

The Company recorded equity-based compensation related to stock options granted in prior years of $11,000 and $140,000 during the three months ended June 30, 2013 and 2012, respectively, and $159,000 and $260,000 for the six months ended June 30, 2013 and 2012, respectively.

A summary of changes in outstanding options for the six months ended June 30, 2013 is as follows:

 

     Number of Options  

Outstanding at December 31, 2012

     371,750   

Exercised

     (179,651

Forfeited and expired

     (5,906
  

 

 

 

Outstanding at June 30, 2013

     186,193   
  

 

 

 

The Company granted 17,020 RSUs and 18,196 RSUs during the three months ended June 30, 2013 and 2012, respectively, and 211,292 RSUs and 216,075 RSUs during the six months ended June 30, 2013 and 2012, respectively. The Company recorded equity-based compensation expense related to restricted stock and RSUs of $2.1 million and $1.8 million during the three months ended June 30, 2013 and 2012, respectively, and $3.9 million and $3.4 million during the six months ended June 30, 2013 and 2012.

 

A summary of changes in unvested shares/units for the six months ended June 30, 2013 is as follows:

 

     Number of shares/units  

Outstanding at December 31, 2012

     597,199   

Granted

     211,292   

Vested

     (214,006

Forfeited

     (132,920
  

 

 

 

Outstanding at June 30, 2013

     461,565   
  

 

 

 
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet12.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income Taxes
6 Months Ended
Jun. 30, 2013
Income Taxes
5. Income Taxes

The Company’s effective tax rate was 36.5% and 36.0% for the quarters ended June 30, 2013 and 2012, respectively, and 34.9% and 36.0% for the six months ended June 30 2013 and 2012, respectively. The increase in the effective tax rate for the quarter ended June 30, 2013 is due to an increase in foreign taxes, partially offset by the reinstatement of the federal research and development tax credit for the 2013 tax year. The decrease in the effective tax rate for the six months ended June 30, 2013 is due to the reinstatement of the federal research and development tax credit in January 2013 for the 2012 and 2013 tax years, partially offset by the establishment of state income tax reserves and an increase in foreign taxes.

The Company applies the provisions for income taxes related to, among other things, accounting for uncertain tax positions and disclosure requirements in accordance with the Income Taxes Topic of the FASB Accounting Standards Codification. For the three months ended June 30, 2013, there were no material changes to the Company’s uncertain tax positions. Nor has there has been any change to the Company’s policy that recognizes potential interest and penalties related to uncertain tax positions within its global operations in income tax expense.

The Company conducts business globally and, as a result, files income tax returns in the U.S. federal jurisdiction and in many state and foreign jurisdictions. The Company is no longer subject to income tax examinations for the years before 2009 in the U.S. federal, substantially all state and local, and substantially all non-US jurisdictions.

------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet13.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Net Earnings Per Share
6 Months Ended
Jun. 30, 2013
Net Earnings Per Share
6. Net Earnings Per Share

Basic net earnings per share is computed using net income divided by the weighted average number of shares of common stock outstanding (“Weighted Shares”) for each period presented. Diluted net earnings per share is computed using net income divided by the sum of Weighted Shares and common equivalent shares (CESs) outstanding for each period presented using the treasury stock method.

The following is a reconciliation of the net income and share amounts used in the computation of basic and diluted net earnings per common share for the three and six months ended June 30, 2013 and 2012 (in thousands, except per share data):

 

     Three Months Ended June 30,     Six Months Ended June 30,  
     2013     2012     2013     2012  

Net income

   $ 17,407      $ 14,172      $ 30,762      $ 25,574   

Earnings per share:

        

Basic

   $ 0.91      $ 0.72      $ 1.60      $ 1.29   

Effect of CESs

     (0.02     (0.02     (0.03     (0.04
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted

   $ 0.89      $ 0.70      $ 1.57      $ 1.25   

Weighted average number of shares:

        

Basic

     19,222        19,765        19,274        19,834   

Effect of CESs

     287        586        323        660   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted

     19,509        20,351        19,597        20,494   

 

There were no anti-dilutive CESs during 2012 and 2013.

------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet14.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Contingencies
6 Months Ended
Jun. 30, 2013
Contingencies
7. Contingencies

From time to time, the Company may be involved in litigation relating to claims arising out of its ordinary course of business, and occasionally legal proceedings not in the ordinary course. Many of the Company’s product installations involve software products that are critical to the operations of its customers’ businesses. Any failure in a product could result in a claim for substantial damages against the Company, regardless of its responsibility for such failure. Although the Company attempts to limit contractually its liability for damages arising from product failures or negligent acts or omissions, there can be no assurance that the limitations of liability set forth in the Company’s contracts will be enforceable in all instances. The Company is not presently involved in any material litigation. The Company expenses legal costs associated with loss contingencies as such claims are incurred.

------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet15.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Operating Segments
6 Months Ended
Jun. 30, 2013
Operating Segments
8. Operating Segments

The Company operates its business in three geographical segments: the Americas (North America and Latin America); Europe, Middle East, and Africa (EMEA); and Asia Pacific (APAC). The information for the periods presented below reflects these segments. All segments derive revenue from the sale and implementation of the Company’s supply chain execution and planning solutions. The individual products sold by the segments are similar in nature and are all designed to help companies manage the effectiveness and efficiency of their supply chain. The Company uses the same accounting policies for each operating segment. The Chief Executive Officer and Chief Financial Officer evaluate performance based on revenue and operating results for each region.

The Americas segment charges royalty fees to the EMEA and APAC segments based on software licenses sold by those operating segments. The royalties, which totaled approximately $0.7 million for both three months periods ended June 30, 2013 and 2012, and approximately $1.3 million and $1.9 million for the six months ended June 30, 2013 and 2012, respectively, are included in cost of revenue in EMEA and APAC with a corresponding reduction in the Americas cost of revenue. The revenues represented below are from external customers only. The geographical-based costs consist of costs of personnel, direct sales and marketing expenses, and general and administrative costs to support the business. There are certain corporate expenses included in the Americas region that are not charged to the other segments, including research and development, certain marketing and general and administrative costs that support the global organization, and the amortization of acquired developed technology. Included in the Americas costs are all research and development costs including the costs associated with the Company’s India operations.

The following table presents the revenues, expenses and operating income by reporting segment for the three and six months ended June 30, 2013 and 2012 (in thousands):

 

                                                                                                       
     Three Months Ended June 30,  
     2013      2012  
     Americas      EMEA      APAC      Consolidated      Americas      EMEA      APAC     Consolidated  

Revenue:

                      

License

   $   13,462       $ 1,118       $   1,556       $ 16,136       $ 12,361       $ 3,257       $ (273   $ 15,345   

Services

     62,510         10,477         5,216         78,203         56,349         8,760           4,213        69,322   

Hardware and other

     7,628         369         180         8,177         8,384         317         199        8,900   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total revenue

     83,600         11,964         6,952         102,516         77,094         12,334         4,139        93,567   

Costs and Expenses:

                      

Cost of revenue

     34,435         6,212         3,371         44,018         30,698         6,014         2,638        39,350   

Operating expenses

     26,592         2,939         1,321         30,852         26,964         3,314         1,179        31,457   

Depreciation and amortization

     1,317         77         65         1,459         1,302         62         54        1,418   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total costs and expenses

     62,344         9,228         4,757         76,329         58,964         9,390         3,871        72,225   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

   $ 21,256       $ 2,736       $ 2,195       $ 26,187       $   18,130       $ 2,944       $ 268      $   21,342   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

 

                                                                                                       
     Six Months Ended June 30,  
     2013      2012  
     Americas      EMEA      APAC      Consolidated      Americas      EMEA      APAC     Consolidated  

Revenue:

                      

Software license

   $ 24,991       $ 2,437       $ 2,953       $ 30,381       $ 23,350       $ 7,316       $ 266      $ 30,932   

Services

     123,790         20,240         9,060         153,090         113,465         16,806         9,421        139,692   

Hardware and other

     14,639         718         289         15,646         13,474         619         331        14,424   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total revenue

     163,420         23,395         12,302         199,117         150,289         24,741         10,018        185,048   

Costs and Expenses:

                      

Cost of revenue

     68,249         12,372         6,435         87,056         59,715         12,079         5,491        77,285   

Operating expenses

     54,289         6,383         2,598         63,270         56,223         7,016         2,480        65,719   

Depreciation and amortization

     2,662         151         130         2,943         2,536         122         104        2,762   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total costs and expenses

     125,200         18,906         9,163         153,269         118,474         19,217         8,075        145,766   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

   $ 38,220       $ 4,489       $ 3,139       $ 45,848       $ 31,815       $ 5,524       $ 1,943      $ 39,282   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

License revenues related to the Company’s warehouse and non-warehouse product groups for the three and six months ended June 30, 2013 and 2012 are as follows (in thousands):

 

     Three Months Ended June 30,      Six Months Ended June 30,  
     2013      2012      2013      2012  

Warehouse

   $ 9,375       $ 9,746       $ 18,626       $ 18,423   

Non-Warehouse

     6,761         5,599         11,755         12,509   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total software license revenue

   $ 16,136       $ 15,345       $ 30,381       $ 30,932   
  

 

 

    

 

 

    

 

 

    

 

 

 

The Company’s services revenues, which consist of fees generated from professional services and customer support and software enhancements related to its software products, for the three and six months ended June 30, 2013 and 2012 are as follows (in thousands):

 

     Three Months Ended June 30,      Six Months Ended June 30,  
     2013      2012      2013      2012  

Professional services

   $ 52,492       $ 45,497       $ 101,643       $ 92,118   

Customer support and software enhancements

     25,711         23,825         51,447         47,574   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total services revenue

   $ 78,203       $ 69,322       $ 153,090       $ 139,692   
  

 

 

    

 

 

    

 

 

    

 

 

 
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet16.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
New Accounting Pronouncements
6 Months Ended
Jun. 30, 2013
New Accounting Pronouncements
9. New Accounting Pronouncements

In February 2013, the FASB issued an Accounting Standards Update (ASU) on reporting of amounts reclassified out of accumulated other comprehensive income, an amendment to the Presentation of Comprehensive Income Topic of the FASB Accounting Standards Codification. The ASU requires disclosure of amounts reclassified out of accumulated other comprehensive income by component. In addition, companies are required to present either on the face of the financial statements or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified to net income in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, companies are required to cross-reference to other disclosures that provide additional detail about those amounts. This guidance is effective prospectively for annual and interim periods beginning after December 15, 2012. The Company adopted the ASU in its first quarter of 2013 reporting, which did not have an impact on its financial statements.

In July 2013, the FASB issued an ASU on presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists, an amendment to the Income Taxes Topic of the FASB Accounting Standards Codification. The ASU requires companies to net the liability related to an unrecognized tax benefit against a deferred tax asset for a loss or other carryforward that would apply in settlement of the uncertain tax positions. In addition, under this ASU, unrecognized tax benefits will be netted against all available same-jurisdiction loss or other tax carryforwards that would be utilized, rather than only against carryforwards that are created by the unrecognized tax benefits. This guidance is effective prospectively for annual and interim periods beginning after December 15, 2013. The Company does not anticipate the adoption of this ASU will have a material impact on its financial statements.

------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet17.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Equity-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2013
Summary of Changes in Outstanding Options

A summary of changes in outstanding options for the six months ended June 30, 2013 is as follows:

 

     Number of Options  

Outstanding at December 31, 2012

     371,750   

Exercised

     (179,651

Forfeited and expired

     (5,906
  

 

 

 

Outstanding at June 30, 2013

     186,193   
  

 

 

 
Summary of Changes in Unvested Shares/Units

A summary of changes in unvested shares/units for the six months ended June 30, 2013 is as follows:

 

     Number of shares/units  

Outstanding at December 31, 2012

     597,199   

Granted

     211,292   

Vested

     (214,006

Forfeited

     (132,920
  

 

 

 

Outstanding at June 30, 2013

     461,565   
  

 

 

 
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet18.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Net Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2013
Reconciliation of Net Income and Share Amounts in Computation of Basic and Diluted Net Earnings Per Common Share

The following is a reconciliation of the net income and share amounts used in the computation of basic and diluted net earnings per common share for the three and six months ended June 30, 2013 and 2012 (in thousands, except per share data):

 

     Three Months Ended June 30,     Six Months Ended June 30,  
     2013     2012     2013     2012  

Net income

   $ 17,407      $ 14,172      $ 30,762      $ 25,574   

Earnings per share:

        

Basic

   $ 0.91      $ 0.72      $ 1.60      $ 1.29   

Effect of CESs

     (0.02     (0.02     (0.03     (0.04
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted

   $ 0.89      $ 0.70      $ 1.57      $ 1.25   

Weighted average number of shares:

        

Basic

     19,222        19,765        19,274        19,834   

Effect of CESs

     287        586        323        660   
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted

     19,509        20,351        19,597        20,494   
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet19.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Operating Segments (Tables)
6 Months Ended
Jun. 30, 2013
Revenues, Expenses and Operating Income by Reporting Segment

The following table presents the revenues, expenses and operating income by reporting segment for the three and six months ended June 30, 2013 and 2012 (in thousands):

 

                                                                                                       
     Three Months Ended June 30,  
     2013      2012  
     Americas      EMEA      APAC      Consolidated      Americas      EMEA      APAC     Consolidated  

Revenue:

                      

License

   $   13,462       $ 1,118       $   1,556       $ 16,136       $ 12,361       $ 3,257       $ (273   $ 15,345   

Services

     62,510         10,477         5,216         78,203         56,349         8,760           4,213        69,322   

Hardware and other

     7,628         369         180         8,177         8,384         317         199        8,900   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total revenue

     83,600         11,964         6,952         102,516         77,094         12,334         4,139        93,567   

Costs and Expenses:

                      

Cost of revenue

     34,435         6,212         3,371         44,018         30,698         6,014         2,638        39,350   

Operating expenses

     26,592         2,939         1,321         30,852         26,964         3,314         1,179        31,457   

Depreciation and amortization

     1,317         77         65         1,459         1,302         62         54        1,418   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total costs and expenses

     62,344         9,228         4,757         76,329         58,964         9,390         3,871        72,225   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

   $ 21,256       $ 2,736       $ 2,195       $ 26,187       $   18,130       $ 2,944       $ 268      $   21,342   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

 

                                                                                                       
     Six Months Ended June 30,  
     2013      2012  
     Americas      EMEA      APAC      Consolidated      Americas      EMEA      APAC     Consolidated  

Revenue:

                      

Software license

   $ 24,991       $ 2,437       $ 2,953       $ 30,381       $ 23,350       $ 7,316       $ 266      $ 30,932   

Services

     123,790         20,240         9,060         153,090         113,465         16,806         9,421        139,692   

Hardware and other

     14,639         718         289         15,646         13,474         619         331        14,424   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total revenue

     163,420         23,395         12,302         199,117         150,289         24,741         10,018        185,048   

Costs and Expenses:

                      

Cost of revenue

     68,249         12,372         6,435         87,056         59,715         12,079         5,491        77,285   

Operating expenses

     54,289         6,383         2,598         63,270         56,223         7,016         2,480        65,719   

Depreciation and amortization

     2,662         151         130         2,943         2,536         122         104        2,762   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total costs and expenses

     125,200         18,906         9,163         153,269         118,474         19,217         8,075        145,766   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

   $ 38,220       $ 4,489       $ 3,139       $ 45,848       $ 31,815       $ 5,524       $ 1,943      $ 39,282   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 
License Revenue
Revenues

License revenues related to the Company’s warehouse and non-warehouse product groups for the three and six months ended June 30, 2013 and 2012 are as follows (in thousands):

 

     Three Months Ended June 30,      Six Months Ended June 30,  
     2013      2012      2013      2012  

Warehouse

   $ 9,375       $ 9,746       $ 18,626       $ 18,423   

Non-Warehouse

     6,761         5,599         11,755         12,509   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total software license revenue

   $ 16,136       $ 15,345       $ 30,381       $ 30,932   
  

 

 

    

 

 

    

 

 

    

 

 

 
Sales Revenue, Services, Net
Revenues

The Company’s services revenues, which consist of fees generated from professional services and customer support and software enhancements related to its software products, for the three and six months ended June 30, 2013 and 2012 are as follows (in thousands):

 

     Three Months Ended June 30,      Six Months Ended June 30,  
     2013      2012      2013      2012  

Professional services

   $ 52,492       $ 45,497       $ 101,643       $ 92,118   

Customer support and software enhancements

     25,711         23,825         51,447         47,574   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total services revenue

   $ 78,203       $ 69,322       $ 153,090       $ 139,692   
  

 

 

    

 

 

    

 

 

    

 

 

 
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet20.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Revenue Recognition - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenue Recognition [Line Items]
Expense reimbursement recorded to revenue $ 3.9 $ 3.2 $ 7.2 $ 5.6
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet21.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Fair Value Measurement - Additional Information (Detail) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash balance $ 58,200,000
Cash equivalents 40,400,000
Short-term investments 7,887,000 6,310,000
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities $ 30,300,000 $ 35,200,000
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet22.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Equity-Based Compensation - Additional Information (Detail) (USD $)
3 Months Ended 6 Months Ended 3 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Mar. 31, 2013
Former Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, previously granted options approved for vesting during the period 3,750
Share based compensation, exercise price for options previously granted $ 15.53
Share based compensation, previously granted restricted stock and RSUs approved for vesting during the period 10,597
Percentage of non-vested employee equity value preserved 22.00%
Percentage of non-vested employee equity value forfeited 78.00%
Stock option expense $ 11,000 $ 140,000 $ 159,000 $ 260,000
Number of restricted stock units/shares, Granted 17,020 18,196 211,292 216,075
Restricted stock expense $ 2,100,000 $ 1,800,000 $ 3,900,000 $ 3,400,000
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet23.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Summary of Changes in Outstanding Options (Detail)
6 Months Ended
Jun. 30, 2013
Number of Options
Number of Options, Outstanding at December 31, 2012 371,750
Number of Options, Exercised (179,651)
Number of Options, Forfeited and expired (5,906)
Number of Options, Outstanding at June 30, 2013 186,193
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet24.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Summary of Changes in Unvested Shares of Restricted Stock (Detail)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units, Granted 17,020 18,196 211,292 216,075
Restricted Stock and Restricted Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares/units, Outstanding at December 31, 2012 597,199
Number of units, Granted 211,292
Number of shares/units, Vested (214,006)
Number of shares/units, Forfeited (132,920)
Number of shares/units, Outstanding at June 30, 2013 461,565 461,565
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet25.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income Taxes - Additional Information (Detail)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Reconciliation of Effective Income Tax Rate [Line Items]
Effective tax rate 36.50% 36.00% 34.90% 36.00%
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet26.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Reconciliation of Net Income and Shares Amounts in Computation of Basic and Diluted Net Earnings Per Common Share (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income $ 17,407 $ 14,172 $ 30,762 $ 25,574
Earnings per share:
Basic $ 0.91 $ 0.72 $ 1.6 $ 1.29
Effect of CESs $ (0.02) $ (0.02) $ (0.03) $ (0.04)
Diluted $ 0.89 $ 0.7 $ 1.57 $ 1.25
Weighted average number of shares:
Basic 19,222 19,765 19,274 19,834
Effect of CESs 287 586 323 660
Diluted 19,509 20,351 19,597 20,494
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet27.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Operating Segments - Additional Information (Detail) (Americas, USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Americas
Segment Reporting Disclosure [Line Items]
Americas royalty fees $ 0.7 $ 0.7 $ 1.3 $ 1.9
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet28.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Revenues, Expenses and Operating Income by Reporting Segment (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Segment Reporting Information [Line Items]
License $ 16,136 $ 15,345 $ 30,381 $ 30,932
Services 78,203 69,322 153,090 139,692
Hardware and other 8,177 8,900 15,646 14,424
Total revenue 102,516 93,567 199,117 185,048
Cost of revenue 44,018 39,350 87,056 77,285
Operating expenses 30,852 31,457 63,270 65,719
Depreciation and amortization 1,459 1,418 2,943 2,762
Total costs and expenses 76,329 72,225 153,269 145,766
Operating income 26,187 21,342 45,848 39,282
Americas
Segment Reporting Information [Line Items]
License 13,462 12,361 24,991 23,350
Services 62,510 56,349 123,790 113,465
Hardware and other 7,628 8,384 14,639 13,474
Total revenue 83,600 77,094 163,420 150,289
Cost of revenue 34,435 30,698 68,249 59,715
Operating expenses 26,592 26,964 54,289 56,223
Depreciation and amortization 1,317 1,302 2,662 2,536
Total costs and expenses 62,344 58,964 125,200 118,474
Operating income 21,256 18,130 38,220 31,815
EMEA
Segment Reporting Information [Line Items]
License 1,118 3,257 2,437 7,316
Services 10,477 8,760 20,240 16,806
Hardware and other 369 317 718 619
Total revenue 11,964 12,334 23,395 24,741
Cost of revenue 6,212 6,014 12,372 12,079
Operating expenses 2,939 3,314 6,383 7,016
Depreciation and amortization 77 62 151 122
Total costs and expenses 9,228 9,390 18,906 19,217
Operating income 2,736 2,944 4,489 5,524
APAC
Segment Reporting Information [Line Items]
License 1,556 (273) 2,953 266
Services 5,216 4,213 9,060 9,421
Hardware and other 180 199 289 331
Total revenue 6,952 4,139 12,302 10,018
Cost of revenue 3,371 2,638 6,435 5,491
Operating expenses 1,321 1,179 2,598 2,480
Depreciation and amortization 65 54 130 104
Total costs and expenses 4,757 3,871 9,163 8,075
Operating income $ 2,195 $ 268 $ 3,139 $ 1,943
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet29.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
License Revenues of Warehouse and Non-Warehouse Product Groups (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenue from External Customer [Line Items]
Total software license revenue $ 16,136 $ 15,345 $ 30,381 $ 30,932
Warehouse Product Groups
Revenue from External Customer [Line Items]
Total software license revenue 9,375 9,746 18,626 18,423
Non-warehouse Product Groups
Revenue from External Customer [Line Items]
Total software license revenue $ 6,761 $ 5,599 $ 11,755 $ 12,509
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/Sheet30.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Services Revenues from Professional Services and Customer Support and Software Enhancements (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenue from External Customer [Line Items]
Professional services $ 52,492 $ 45,497 $ 101,643 $ 92,118
Customer support and software enhancements 25,711 23,825 51,447 47,574
Total services revenue $ 78,203 $ 69,322 $ 153,090 $ 139,692
------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93 Content-Location: file:///C:/aa58833b_0b08_46ed_804e_37499b24fe93/Worksheets/filelist.xml Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" ------=_NextPart_aa58833b_0b08_46ed_804e_37499b24fe93--