2012 Form 8-K Financial Statement

#000119312513043790 Filed on February 07, 2013

View on sec.gov

Income Statement

Concept 2012 2011 Q2 2011
Revenue $43.36M $12.59M $44.07M
YoY Change -1.59% 89.32% 47.49%
Cost Of Revenue $13.44M $2.880M $10.92M
YoY Change 23.09% 24.14% 12.44%
Gross Profit $29.93M $9.710M $33.15M
YoY Change -9.72% 124.25% 64.36%
Gross Profit Margin 69.02% 77.12% 75.23%
Selling, General & Admin $25.83M $5.820M $18.05M
YoY Change 43.14% 48.47% 34.71%
% of Gross Profit 86.3% 59.94% 54.44%
Research & Development $6.132M $1.490M $5.551M
YoY Change 10.47% -9.7% 0.74%
% of Gross Profit 20.49% 15.35% 16.75%
Depreciation & Amortization $846.0K $160.0K $598.0K
YoY Change 41.47% 6.67% -5.23%
% of Gross Profit 2.83% 1.65% 1.8%
Operating Expenses $31.96M $7.310M $23.60M
YoY Change 35.45% 31.24% 24.81%
Operating Profit -$2.033M $2.400M $9.553M
YoY Change -121.28% -293.55% 655.78%
Interest Expense -$722.0K -$400.0K -$1.230M
YoY Change -41.3% 37.93% 9.53%
% of Operating Profit -16.67% -12.88%
Other Income/Expense, Net -$677.0K $160.0K $245.0K
YoY Change -376.33% -277.78% -465.67%
Pretax Income -$3.441M $2.160M $2.918M
YoY Change -217.92% -233.33% -317.76%
Income Tax $390.0K $80.00K $196.0K
% Of Pretax Income 3.7% 6.72%
Net Earnings -$3.822M $2.080M $8.372M
YoY Change -145.65% -225.3% -9949.41%
Net Earnings / Revenue -8.81% 16.52% 19.0%
Basic Earnings Per Share -$0.16 $0.37
Diluted Earnings Per Share -$0.16 $80.46K $0.34
COMMON SHARES
Basic Shares Outstanding 24.33M 22.71M
Diluted Shares Outstanding 24.33M 24.29M

Balance Sheet

Concept 2012 2011 Q2 2011
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.900M $13.10M $13.10M
YoY Change -24.43% 129.82% 129.82%
Cash & Equivalents $9.900M $12.42M $12.40M
Short-Term Investments $0.00 $600.0K $600.0K
Other Short-Term Assets $800.0K $600.0K $600.0K
YoY Change 33.33% 20.0% 20.0%
Inventory
Prepaid Expenses
Receivables $6.500M $8.197M $8.200M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $17.30M $22.25M $21.80M
YoY Change -20.64% 141.85% 136.96%
LONG-TERM ASSETS
Property, Plant & Equipment $2.300M $1.015M $1.000M
YoY Change 130.0% 12.78% 11.11%
Goodwill $4.880M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.900M $483.0K $500.0K
YoY Change 280.0% 20.75% 25.0%
Total Long-Term Assets $9.000M $6.477M $6.400M
YoY Change 40.63% 6.18% 4.92%
TOTAL ASSETS
Total Short-Term Assets $17.30M $22.25M $21.80M
Total Long-Term Assets $9.000M $6.477M $6.400M
Total Assets $26.30M $28.73M $28.20M
YoY Change -6.74% 87.76% 84.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.900M $924.0K $900.0K
YoY Change 111.11% -16.0% -18.18%
Accrued Expenses $4.700M $1.911M $5.100M
YoY Change -7.84% -51.0% 30.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.700M $6.700M $6.700M
YoY Change -74.63% 2133.33% 2133.33%
Total Short-Term Liabilities $15.40M $18.00M $18.00M
YoY Change -14.44% 74.75% 74.76%
LONG-TERM LIABILITIES
Long-Term Debt $7.200M $3.300M $3.300M
YoY Change 118.18% -62.5% -62.5%
Other Long-Term Liabilities $1.400M $271.0K $900.0K
YoY Change 55.56% -45.8% 80.0%
Total Long-Term Liabilities $8.600M $271.0K $4.200M
YoY Change 104.76% -97.09% -54.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.40M $18.00M $18.00M
Total Long-Term Liabilities $8.600M $271.0K $4.200M
Total Liabilities $24.00M $22.21M $22.20M
YoY Change 8.11% 13.91% 13.85%
SHAREHOLDERS EQUITY
Retained Earnings -$318.2M
YoY Change
Common Stock $325.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.300M $6.515M $6.000M
YoY Change
Total Liabilities & Shareholders Equity $26.30M $28.73M $28.20M
YoY Change -6.74% 87.76% 84.31%

Cashflow Statement

Concept 2012 2011 Q2 2011
OPERATING ACTIVITIES
Net Income -$3.822M $2.080M $8.372M
YoY Change -145.65% -225.3% -9949.41%
Depreciation, Depletion And Amortization $846.0K $160.0K $598.0K
YoY Change 41.47% 6.67% -5.23%
Cash From Operating Activities $1.001M -$580.0K $6.782M
YoY Change -85.24% -63.29% 171.82%
INVESTING ACTIVITIES
Capital Expenditures $1.827M -$150.0K $725.0K
YoY Change 152.0% 114.29% 39.16%
Acquisitions
YoY Change
Other Investing Activities $600.0K -$10.00K -$650.0K
YoY Change -192.31%
Cash From Investing Activities -$1.224M -$170.0K -$1.376M
YoY Change -11.05% 142.86% 164.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.378M -20.00K 1.381M
YoY Change -272.19% -80.0% -140.62%
NET CHANGE
Cash From Operating Activities 1.001M -580.0K 6.782M
Cash From Investing Activities -1.224M -170.0K -1.376M
Cash From Financing Activities -2.378M -20.00K 1.381M
Net Change In Cash -2.601M -770.0K 6.787M
YoY Change -138.32% -56.0% -575.95%
FREE CASH FLOW
Cash From Operating Activities $1.001M -$580.0K $6.782M
Capital Expenditures $1.827M -$150.0K $725.0K
Free Cash Flow -$826.0K -$430.0K $6.057M
YoY Change -113.64% -71.52% 206.84%

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1.89
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SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
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1666000
CY2012Q2 us-gaap Additional Paid In Capital Common Stock
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CY2012Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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3688000
CY2012Q2 us-gaap Stockholders Equity
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3913000
CY2012Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
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1.98
CY2012Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2012Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2012Q2 us-gaap Accounts Payable Current
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CY2012Q2 egan Deferred Tax Assets Capitalized Research And Development Costs
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CY2012Q2 egan Deferred Tax Assets Accruals And Reserves
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CY2012Q2 egan Number Of Customers That Accounted For More Than Ten Percent Of Companys Accounts Receivable
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CY2012Q2 egan Stock Options Reserved For Future Grant
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CY2012Q2 egan Shares Of Common Stock Reserved For Issuance
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CY2012Q2 egan Notes Receivable From Stockholders
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CY2012Q2 egan Warrants Outstanding
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CY2008Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2008Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.80 pure
CY2008Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2008Q2 egan Warrants Granted To Purchase Common Stock
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73889 shares
CY2008Q2 egan Warrants Holders Common Stock Purchase Price Per Share
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0.90
CY2011Q2 egan Required Frequency Of Principal Payments Term Loan Months
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P36M
CY2011Q3 egan Number Of Warrants Exercised
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307022 shares
CY2011Q3 egan Warrants Granted To Purchase Common Stock
WarrantsGrantedToPurchaseCommonStock
238393 shares
CY2011Q3 egan Issuance Of Common Stock Through Exercise Of Warrants Shares
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238000 shares
CY2003Q4 us-gaap Amortization Of Financing Costs And Discounts
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195000
CY2003Q4 egan Warrants Granted To Purchase Common Stock
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128766 shares
CY2003Q4 egan Warrants Holders Common Stock Purchase Price Per Share
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3.88
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CY2007Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0428 pure
CY2007Q2 us-gaap Amortization Of Financing Costs And Discounts
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187000
CY2007Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.75 pure
CY2007Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2007Q2 egan Warrants Granted To Purchase Common Stock
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333333 shares
CY2007Q2 egan Warrants Holders Common Stock Purchase Price Per Share
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1.20
CY2007Q2 egan Warrants Expiration Date
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June 2010
CY2008Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P3Y
CY2008Q3 us-gaap Debt Conversion Converted Instrument Amount1
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6500000
CY2008Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0226 pure
CY2008Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
272000
CY2008Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.80 pure
CY2008Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2008Q3 egan Warrants Granted To Purchase Common Stock
WarrantsGrantedToPurchaseCommonStock
1525515 shares
CY2008Q3 egan Warrants Holders Common Stock Purchase Price Per Share
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0.95
CY2008Q3 egan Gain On Extinguishment Of Convertible Notes And Warrants
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3100000
CY2008Q3 egan Warrant Expenses Amortization Period
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P3Y
CY2002Q4 us-gaap Amortization Of Financing Costs And Discounts
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173000
CY2002Q4 us-gaap Related Party Transaction Rate
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0.12 pure
CY2002Q4 egan Warrants Granted To Purchase Common Stock
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236742 shares
CY2002Q4 egan Warrants Holders Common Stock Purchase Price Per Share
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2.11
CY2002Q4 egan Warrants Expiration Date
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CY2004Q1 us-gaap Amortization Of Financing Costs And Discounts
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223000
CY2004Q1 us-gaap Related Party Transaction Rate
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0.12 pure
CY2004Q1 egan Warrants Granted To Purchase Common Stock
WarrantsGrantedToPurchaseCommonStock
312500 shares
CY2004Q1 egan Warrants Holders Common Stock Purchase Price Per Share
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2.00
CY2004Q1 egan Warrants Expiration Date
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March 2007
CY2011Q1 egan Number Of Warrants Exercised
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1218493 shares
CY2011Q1 egan Warrants Granted To Purchase Common Stock
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1218493 shares
CY2012Q1 us-gaap Debt Instrument Maturity Date
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2012-06-29
CY2012Q1 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
109000
CY2012Q1 us-gaap Related Party Transaction Rate
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0.08 pure
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600000
CY2010 us-gaap Other Nonoperating Income Expense
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CY2010 us-gaap Payments For Repurchase Of Equity
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CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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1414000
CY2010 us-gaap Proceeds From Stock Options Exercised
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14000
CY2010 us-gaap Increase Decrease In Other Operating Assets
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CY2010 us-gaap Net Cash Provided By Used In Investing Activities
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CY2010 us-gaap Income Taxes Paid
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CY2010 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
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11000
CY2010 us-gaap Technology Services Revenue
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5871000
CY2010 us-gaap Licenses Revenue
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7389000
CY2010 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5510000
CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2010 us-gaap Weighted Average Number Of Shares Outstanding Basic
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22180000 shares
CY2010 us-gaap Maintenance Revenue
MaintenanceRevenue
9079000
CY2010 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
2.158 pure
CY2010 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y3M
CY2010 us-gaap Repayments Of Debt And Capital Lease Obligations
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181000
CY2010 us-gaap Increase Decrease In Deferred Revenue
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CY2010 us-gaap Increase Decrease In Accounts Receivable
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CY2010 us-gaap Stock Repurchased And Retired During Period Value
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108000
CY2010 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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74000
CY2010 us-gaap Treasury Stock Acquired Average Cost Per Share
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1.00
CY2010 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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244000
CY2010 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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3.289 pure
CY2010 us-gaap Interest Paid
InterestPaid
22000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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6162
CY2010 us-gaap Share Based Compensation
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244000
CY2010 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0.54
CY2010 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2010 us-gaap Provision For Doubtful Accounts
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96000
CY2010 us-gaap Depreciation And Amortization
DepreciationAndAmortization
631000
CY2010 us-gaap Technology Services Costs
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5048000
CY2010 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1778000
CY2010 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
10184000
CY2010 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-4.002 pure
CY2010 us-gaap Current State And Local Tax Expense Benefit
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2000
CY2010 us-gaap Operating Income Loss
OperatingIncomeLoss
1264000
CY2010 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2010 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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244000
CY2010 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2010 us-gaap Earnings Per Share Basic
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0.00
CY2010 us-gaap Amortization Of Deferred Sales Commissions
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CY2010 us-gaap Net Income Loss
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-85000
CY2010 us-gaap Entity Wide Revenue Major Customer Percentage
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0.14 pure
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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1121700 shares
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0276 pure
CY2010 us-gaap Earnings Per Share Diluted
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0.00
CY2010 us-gaap Increase Decrease In Employee Related Liabilities
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CY2010 us-gaap General And Administrative Expense
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3211000
CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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22180000 shares
CY2010 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
84000
CY2010 us-gaap Net Cash Provided By Used In Financing Activities
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-3400000
CY2010 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
239000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.80 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.340 pure
CY2010 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
645000
CY2010 us-gaap Gross Profit
GrossProfit
20169000
CY2010 us-gaap Comprehensive Income Net Of Tax
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-175000
CY2010 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
34000
CY2010 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-21000
CY2010 us-gaap Advertising Expense
AdvertisingExpense
289000
CY2010 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
71000
CY2010 us-gaap Operating Expenses
OperatingExpenses
18905000
CY2010 us-gaap Revenues
Revenues
29877000
CY2010 us-gaap License Costs
LicenseCosts
168000
CY2010 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-47000
CY2010 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
159000
CY2010 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-352000
CY2010 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
1000000
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
521000
CY2010 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
239000
CY2010 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
108308 shares
CY2010 us-gaap Current Foreign Tax Expense Benefit
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178000
CY2010 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-4000
CY2010 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
244000
CY2010 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4896247 shares
CY2010 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
754000
CY2010 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-95000
CY2010 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
192000
CY2010 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
200000
CY2010 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
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-0.564 pure
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2010 us-gaap Increase Decrease In Other Noncurrent Liabilities
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-245000
CY2010 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
14000
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2495000
CY2010 us-gaap Cost Of Revenue
CostOfRevenue
9708000
CY2010 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
3125000
CY2010 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1123000
CY2010 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-1.741 pure
CY2010 egan Warrants Expiration Date
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June 2007
CY2010 egan Effective Income Tax Rate Reconciliation Permanent Items
EffectiveIncomeTaxRateReconciliationPermanentItems
0.204 pure
CY2010 egan Paid In Kind Interest On Stockholder Loan
PaidInKindInterestOnStockholderLoan
3000
CY2010 egan Percentage Of Sales In Respect Of Total Revenue Through Companies Reseller Agreement
PercentageOfSalesInRespectOfTotalRevenueThroughCompaniesResellerAgreement
0.04 pure
CY2010 egan Effective Income Tax Rate Reconciliation Net Operating Loss Expiration
EffectiveIncomeTaxRateReconciliationNetOperatingLossExpiration
4.673 pure
CY2010 egan Recurring Revenue
RecurringRevenue
16617000
CY2010 egan Cost Of Recurring Revenue
CostOfRecurringRevenue
4492000
CY2010 egan Accrued Interest And Amortization Of Discount On Related Party Notes Payable
AccruedInterestAndAmortizationOfDiscountOnRelatedPartyNotesPayable
1027000
CY2010 egan Number Of Customers Accounted For More Than Ten Percentage Of Revenue
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1 Customer
CY2010 egan Warrants Expiration Outstanding
WarrantsExpirationOutstanding
333333 shares
CY2010 egan Warrants Expiration Weighted Average Exercise Price
WarrantsExpirationWeightedAverageExercisePrice
1.20
CY2010 egan Share Based Compensation Effect On Earnings Per Share Basic And Diluted
ShareBasedCompensationEffectOnEarningsPerShareBasicAndDiluted
0.01
CY2010 egan Hosting Revenue
HostingRevenue
7538000
CY2011 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
245000
CY2011 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
276000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
5650000
CY2011 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
771000
CY2011 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
121000
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1376000
CY2011 us-gaap Income Taxes Paid
IncomeTaxesPaid
181000
CY2011 us-gaap Technology Services Revenue
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6654000
CY2011 us-gaap Licenses Revenue
LicensesRevenue
17371000
CY2011 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5551000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
2918000
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22709000 shares
CY2011 us-gaap Maintenance Revenue
MaintenanceRevenue
10796000
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.024 pure
CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y6M
CY2011 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
157000
CY2011 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
418000
CY2011 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5261000
CY2011 us-gaap Stock Repurchased And Retired During Period Value
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276000
CY2011 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-204000
CY2011 us-gaap Proceeds From Warrant Exercises
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1158000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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8568000
CY2011 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
1.29
CY2011 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
218000
CY2011 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.114 pure
CY2011 us-gaap Interest Paid
InterestPaid
1418000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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1030788
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
218000
CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.21
CY2011 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.050 pure
CY2011 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
176000
CY2011 us-gaap Depreciation And Amortization
DepreciationAndAmortization
598000
CY2011 us-gaap Technology Services Costs
TechnologyServicesCosts
5609000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
6691000
CY2011 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
5000000
CY2011 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
14071000
CY2011 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.204 pure
CY2011 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
25000
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
9553000
CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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218000
CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-204000
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
CY2011 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
752000
CY2011 us-gaap Net Income Loss
NetIncomeLoss
8372000
CY2011 us-gaap Entity Wide Revenue Major Customer Percentage
EntityWideRevenueMajorCustomerPercentage
0.22 pure
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
280450 shares
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0182 pure
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1230000
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3974000
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2011 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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1580000 shares
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1381000
CY2011 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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670000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.82 pure
CY2011 us-gaap Proceeds From Bank Debt
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CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2011 us-gaap Increase Decrease In Deferred Charges
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613000
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36000
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CY2011 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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31000
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218000
CY2011 us-gaap Income Tax Expense Benefit
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196000
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CY2011 us-gaap Defined Contribution Plan Cost Recognized
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267000
CY2011 us-gaap Debt Instrument Periodic Payment
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178000
CY2011 us-gaap Allocated Share Based Compensation Expense
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218000
CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2011 us-gaap Lease And Rental Expense
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779000
CY2011 us-gaap Increase Decrease In Accrued Liabilities
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CY2011 us-gaap Property Plant And Equipment Disposals
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75000
CY2011 us-gaap Increase Decrease In Accounts Payable
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CY2011 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2011 us-gaap Increase Decrease In Other Noncurrent Liabilities
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168000
CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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771000
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6782000
CY2011 us-gaap Cost Of Revenue
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10916000
CY2011 us-gaap Repayments Of Bank Debt
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115000
CY2011 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1230000
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.027 pure
CY2011 egan Customer Advances
CustomerAdvances
122000
CY2011 egan Issuance Of Common Stock Through Exercise Of Warrants Value
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-1158000
CY2011 egan Warrants Expiration Date
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June 2008
CY2011 egan Effective Income Tax Rate Reconciliation Permanent Items
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0.003 pure
CY2011 egan Paid In Kind Interest On Stockholder Loan
PaidInKindInterestOnStockholderLoan
3000
CY2011 egan Percentage Of Sales In Respect Of Total Revenue Through Companies Reseller Agreement
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0.05 pure
CY2011 egan Effective Income Tax Rate Reconciliation Net Operating Loss Expiration
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0.039 pure
CY2011 egan Recurring Revenue
RecurringRevenue
20040000
CY2011 egan Cost Of Recurring Revenue
CostOfRecurringRevenue
5273000
CY2011 egan Accrued Interest And Amortization Of Discount On Related Party Notes Payable
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1251000
CY2011 egan Number Of Customers Accounted For More Than Ten Percentage Of Revenue
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CY2011 egan Warrants Expiration Outstanding
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73889 shares
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WarrantsExpirationWeightedAverageExercisePrice
0.90
CY2011 egan Warrants Exercised Related Parties Outstanding
WarrantsExercisedRelatedPartiesOutstanding
1218493 shares
CY2011 egan Warrants Exercised Related Parties Weighted Average Exercise Price
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0.95
CY2011 egan Share Based Compensation Effect On Earnings Per Share Basic And Diluted
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CY2011 egan Hosting Revenue
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9244000
CY2012 dei Document Type
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8-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001066194
CY2012 dei Trading Symbol
TradingSymbol
EGAN
CY2012 dei Entity Registrant Name
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EGAIN Corp
CY2012 dei Amendment Flag
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false
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P6Y3M11D
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2012 us-gaap Concentration Risk Credit Risk
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317000
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527000
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CY2012 us-gaap Technology Services Revenue
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8703000
CY2012 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P1Y4M2D
CY2012 us-gaap Licenses Revenue
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11067000
CY2012 us-gaap Research And Development Expense
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6132000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
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24329000 shares
CY2012 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
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CY2012 us-gaap Maintenance Revenue
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12398000
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
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-0.114 pure
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2012 us-gaap Repayments Of Debt And Capital Lease Obligations
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2313000
CY2012 us-gaap Increase Decrease In Accounts Receivable
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-1350000
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CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-3432000
CY2012 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
856000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2012 us-gaap Operating Loss Carryforwards Expiration Dates
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CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2012 us-gaap Share Based Compensation
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856000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2012 us-gaap Provision For Doubtful Accounts
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CY2012 us-gaap Current State And Local Tax Expense Benefit
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856000
CY2012 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment Realized Upon Sale Or Liquidation Net Of Tax
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245000
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
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50000
CY2012 us-gaap Earnings Per Share Basic
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P6Y4M21D
CY2012 us-gaap Conversion Of Stock Shares Converted1
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CY2012 us-gaap Net Income Loss
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0.10 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
720300 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0097 pure
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2012 us-gaap Other Tax Carryforward Expiration Dates
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0.60 pure
CY2012 us-gaap Increase Decrease In Employee Related Liabilities
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5743000
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24329000 shares
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-2378000
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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924000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.85 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.340 pure
CY2012 us-gaap Increase Decrease In Deferred Charges
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1723000
CY2012 us-gaap Gross Profit
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29928000
CY2012 us-gaap Revenue Recognition Deferred Revenue
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Deferred Revenue</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Deferred revenue primarily consists of payments received in advance of revenue recognition from hosting and support services described above. Deferred revenue is recognized as the revenue recognition criteria are met. The Company generally invoices customers in annual or quarterly installments. The deferred revenue balance does not represent the total contract value of annual or multi-year, non-cancelable hosting or support agreements. Deferred revenue is influenced by several factors, including seasonality, the compounding effects of renewals, invoice duration, invoice timing and new business linearity within the quarter.</font></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Deferred revenue that will be recognized during the succeeding twelve month period is recorded as current deferred revenue and the remaining portion is recorded as noncurrent.</font></p> </div>
CY2012 us-gaap Proceeds From Sale Of Short Term Investments
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605000
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3772000
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30000
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9.00
CY2012 us-gaap Current Federal Tax Expense Benefit
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23000
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-1000000
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251000
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
250000
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OperatingExpenses
31961000
CY2012 us-gaap Revenues
Revenues
43364000
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-39000
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ForeignCurrencyTransactionGainLossBeforeTax
-461000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
390000
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EffectOfExchangeRateOnCashAndCashEquivalents
88000
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InterestExpenseRelatedParty
588000
CY2012 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
2000
CY2012 us-gaap Number Of Operating Segments
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1 Segment
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
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1827000
CY2012 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
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P6Y4M21D
CY2012 us-gaap Defined Contribution Plan Cost Recognized
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280000
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0 shares
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
341000
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
856000
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2612113 shares
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1100000
CY2012 us-gaap Use Of Estimates
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The estimates are based upon information available as of the date of the financial statements. Actual results could differ from those estimates.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">We evaluate our significant estimates, including those related to revenue recognition, provision for doubtful accounts, valuation of stock-based compensation, valuation of long-lived assets, valuation of deferred tax assets, and litigation, among others. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. We refer to accounting estimates of this type as &#x201C;critical accounting estimates.</font></p> </div>
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-246000
CY2012 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
254000
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
625000
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0.023 pure
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-0.005 pure
CY2012 egan Warranty Period Maximum
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1 Y
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90 D
CY2012 egan Revenue Recognition Service Period Of Recognizing Maintenance Service Revenue
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1 Y
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2012 us-gaap Increase Decrease In Other Noncurrent Liabilities
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-34000
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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317000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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1001000
CY2012 us-gaap Cost Of Revenue
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13436000
CY2012 us-gaap Repayments Of Bank Debt
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1667000
CY2012 us-gaap Interest Income Expense Nonoperating Net
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-722000
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.034 pure
CY2012 egan Customer Advances
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203000
CY2012 egan Non Cash Investing Activities Trade Accounts Payable
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367000
CY2012 egan Paid In Kind Interest On Stockholder Loan
PaidInKindInterestOnStockholderLoan
3000
CY2012 egan Percentage Of Sales In Respect Of Total Revenue Through Companies Reseller Agreement
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0.02 pure
CY2012 egan Stock Option Total Intrinsic Value Closing Price
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5.45
CY2012 egan Effective Income Tax Rate Reconciliation Net Operating Loss Expiration
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-0.479 pure
CY2012 egan Recurring Revenue
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23594000
CY2012 egan Cost Of Recurring Revenue
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5363000
CY2012 egan Accrued Interest And Amortization Of Discount On Related Party Notes Payable
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588000
CY2012 egan Number Of Customers Accounted For More Than Ten Percentage Of Revenue
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1 Customer
CY2012 egan Warrants Exercised Related Parties Outstanding
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307022 shares
CY2012 egan Warrants Exercised Related Parties Weighted Average Exercise Price
WarrantsExercisedRelatedPartiesWeightedAverageExercisePrice
0.95
CY2012 egan Share Based Compensation Effect On Earnings Per Share Basic And Diluted
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0.04
CY2012 egan Leases Expire Year
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2017
CY2012 egan Hosting Revenue
HostingRevenue
11196000
CY2012 egan Contractual Term Of Customer Relationship
ContractualTermOfCustomerRelationship
P27M
CY2011Q2 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
43817
CY2011Q2 egan Interest Rates On Capital Lease
InterestRatesOnCapitalLease
0.0306 pure

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0001193125-13-043790-index.html Edgar Link pending
0001193125-13-043790.txt Edgar Link pending
0001193125-13-043790-xbrl.zip Edgar Link pending
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egan-20120630.xml Edgar Link completed
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