Financial Statement

Condensed Consolidated Statements of Income
(In thousands, except per share data)
    March 31,
2009 		    December 31,
2008 		 
    (Unaudited)      
ASSETS        
Current assets:        
Cash and cash equivalents   $ 11,772     $ 9,475    
Short-term investments     477       1,536    
Accounts receivable, less allowance of $453 and $453, respectively     15,918       13,562    
Other current assets     1,042       951    
Total current assets     29,209       25,524    
Property and equipment, net     4,143       3,774    
Goodwill     91,359       88,488    
Intangible assets, net     9,765       10,235    
Indefinitelived intangible assets     11,581       11,589    
Other assets     522       1,557    
Total assets   $ 146,579     $ 141,167    
LIABILITIES AND STOCKHOLDERS EQUITY        
Current liabilities:        
Accounts payable and accrued expenses     4,361       8,245    
Accrued payroll and related benefits     3,380       2,709    
Short term debt     24,945       24,945    
Current portion of convertible debt (Also see Note 14)     11,518       11,518    
Current portion of long term debt and capital lease obligations     325       912    
Deferred revenue     6,228       5,383    
Other current liabilities     176       142    
Total current liabilities     50,933       53,854    
Convertible debt     15,000       15,000    
Other long term debt and capital lease obligation, less current portion     254       290    
Other liabilities     2,611       941    
Deferred Revenue     168       330    
Deferred rent     574       610    
Total liabilities     69,540       71,025    

Commitments and Contingencies, Note 5

       
Stockholders equity:        
Convertible Series D Preferred stock, $.10 par value, 500,000
shares authorized, no shares issued and outstanding 		   

 

         

 

Common stock, $.10 par value, 20,000,000 shares authorized,
9,994,052 issued and 9,923,657 outstanding at March 31, 2009
and 10,218,702 issued and 10,192,032 outstanding at December 31, 2008 		    979       981    
Additional paid-in capital     111,586       111,641    
Treasury stock (70,395 and 59,745 shares repurchased
as of March 31, 2009 and December 31, 2008, respectively) 		    (1,383)       (1,178)    
Accumulated deficit     (21,864)       (30,199)  

 

Accumulated other comprehensive income     (12,279)       (11,103)    
Total stockholders equity     77,039       70,142    
Total liabilities and stockholders equity   $ 146,579     $ 141,167    
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