qada20190131

Basis of Presentation and Significant Accounting Policies [Text Block]

SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

BUSINESS

1979,

incorporated in California in

1986

and reincorporated in Delaware in

1997.

PRINCIPLES OF CONSOLIDATION

USE OF ESTIMATES

FOREIGN CURRENCY TRANSLATIONS AND TRANSACTIONS

Gains and losses resulting from foreign currency transactions and remeasurement adjustments of monetary assets and liabilities

not

held in an entity’s functional currency are included in earnings. Foreign currency transaction and remeasurement (gains) losses for fiscal

2019,

2018

and

2017

totaled $(

0.2

) million,

$2.5

million and

$0.2

million, respectively, and are included in “Other (income) expense, net” in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss).

CASH AND EQUIVALENTS

Cash and equivalents consist of cash and short-term marketable securities with maturities of less than

days at the date of purchase. The Company considers all highly liquid investments purchased with an original maturity of

days or less to be cash equivalents. At

January 31, 2019

and

2018,

the Company’s cash and equivalents consisted of money market mutual funds invested in U.S. Treasury and government securities, deposit accounts and certificates of deposit.

SHORT-TERM INVESTMENTS

January 31, 2019,

the Company’s short-term investments consisted of certificates of deposit with maturities greater than

days and less than

one

year. Short-term investments are classified as held-to-maturity, since the Company has the intent and the ability to hold them to maturity, and are recorded at amortized cost, which approximates fair value. The Company considers all of its short-term investments as highly liquid and therefore includes these securities within current assets on the Consolidated Balance Sheets. Interest on short-term investments is included as a component of “Interest income”.

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net, consisted of the following as of

January 31:

	2019			2018
	(in thousands)
Accounts receivable	$	84,478		$	85,281
Less allowance for:
Doubtful accounts		(487	)		(396	)
Sales adjustments		(2,414	)		(1,367	)
Accounts receivable, net	$	81,577		$	83,518

Trade accounts receivable are recorded at the invoiced amount and do

not

bear interest. The collectability of accounts receivable is reviewed each period by analyzing balances based on age. Specific allowances are recorded for any balances that the Company determines

may

not

be fully collectible due to a customer’s inability to pay. The Company also provides a general reserve based on historical data including an analysis of write-offs and other known factors. Provisions to the allowance for bad debts are included as bad debt expense in “General and Administrative” expense. The determination to write-off specific accounts receivable balances is based on the likelihood of collection and past due status. Past due status is based on invoice date and terms specific to each customer.

The Company does

not

generally provide a contractual right of return; however, in the course of business sales adjustments related to customer dispute resolution

may

occur. A provision is recorded against revenue for estimated sales adjustments in the same period the related revenues are recorded or when current information indicates additional amounts are required. These estimates are based on historical experience, specifically identified customers and other known factors.

FINANCIAL INSTRUMENTS AND CONCENTRATION OF CREDIT RISK

January 31, 2019

one

customer accounted for

10%

of total revenue and

other customer accounted for

10%

or more of total revenue.

single customer accounted for

10%

or more of the Company’s total revenue during the fiscal years ended

January 31, 2018

and

2017.

In addition,

single customer accounted for

10%

or more of accounts receivable at

January 31, 2019

2018.

PROPERTY AND EQUIPMENT

three

years for computer equipment and software,

five

years for furniture and office equipment,

years for building improvements, and

years for buildings. Leasehold improvements are depreciated over the shorter of the lease term or the useful life of

five

years.

Property and equipment, net consisted of the following as of

January 31:

	2019			2018
	(in thousands)
Buildings and building improvements	$	32,238		$	32,444
Computer equipment and software		17,671			17,312
Furniture and office equipment		7,672			7,632
Leasehold improvements		7,309			6,677
Land		3,850			3,850
Automobiles		54			54
		68,794			67,969
Less accumulated depreciation and amortization		(39,173	)		(37,561	)
	$	29,621		$	30,408

The changes in property and equipment, net, for the fiscal years ended

January 31

were as follows:

	2019			2018
	(in thousands)
Cost
Balance at February 1	$	67,969		$	64,642
Additions		4,340			3,720
Disposals		(2,512	)		(1,874	)
Impact of foreign currency translation		(1,003	)		1,481
Balance at January 31		68,794			67,969

Accumulated depreciation
Balance at February 1		(37,561	)		(33,770	)
Depreciation		(4,734	)		(4,562	)
Disposals		2,474			1,719
Impact of foreign currency translation		648			(948	)
Balance at January 31		(39,173	)		(37,561	)
Property and equipment, net at January 31	$	29,621		$	30,408

Depreciation and amortization expense of property and equipment for fiscal

2019,

2018

and

2017

was

$4.7

million,

$4.6

million and

$4.3

million, respectively. There was

impairment of property and equipment assets during fiscal

2019,

2018

and

2017.

CAPITALIZED SOFTWARE COSTS

third

parties or through business combinations as acquired software technology, if the related software under development has reached technological feasibility.

The amortization of capitalized software costs is the greater of the straight-line basis over

three

years, the expected useful life, or a computation using a ratio of current revenue for a product compared to the estimated total of current and future revenues for that product. The Company periodically compares the unamortized capitalized software costs to the estimated net realizable value of the associated product. The amount by which the unamortized capitalized software costs of a particular software product exceeds the estimated net realizable value of that asset would be reported as a charge to the Consolidated Statements of Operations and Comprehensive Income (Loss).

Capitalized software costs and accumulated amortization at

January 31

were as follows:

	2019			2018
	(in thousands)
Capitalized software costs:
Capitalized software development costs	$	2,314		$	1,516
Acquired software technology		135			—
		2,449			1,516
Less accumulated amortization		(851	)		(526	)
Capitalized software costs, net	$	1,598		$	990

second

quarter of fiscal

2019.

It is the Company’s policy to write off capitalized software development costs once fully amortized. Accordingly, during fiscal

2019,

$0.3

million of costs and accumulated amortization was removed from the Consolidated Balance Sheet and was primarily related to acquired software technology which was fully amortized during fiscal

2019.

Amortization of capitalized software costs for fiscal

2019,

2018

and

2017

was

$0.6

million,

$0.8

million and

$1.0

million, respectively. Amortization of capitalized software costs is included in “Cost of license fees” in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss).

The following table summarizes the estimated amortization expense relating to the Company’s capitalized software costs as of

January 31, 2019:

Fiscal Years	(in thousands)
2020	$	759
2021		572
2022		226
2023		27
Thereafter		14
	$	1,598

GOODWILL AND INTANGIBLE ASSETS

Goodwill represents the excess of the purchase price over the fair value of net assets of purchased businesses. Goodwill is

not

amortized, but instead is subject to impairment tests on at least an annual basis and whenever circumstances suggest that goodwill

may

be impaired. The Company tests goodwill for impairment in the

fourth

quarter of each fiscal year. The Company performs a

two

-step impairment test. Under the

first

step of the goodwill impairment test, the Company is required to compare the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is

not

considered impaired and the

second

step is

not

performed. If the results of the

first

step of the impairment test indicate that the fair value of a reporting unit does

not

exceed its carrying amount, then the

second

step of the goodwill impairment test is required. The

second

step of the goodwill impairment test compares the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. The impairment loss is measured by the excess of the carrying amount of the reporting unit goodwill over the implied fair value of that goodwill.

not

specifically identifiable to a geography or product line but relate to almost all products. As a result, there is a high degree of interdependency among the Company’s revenues and cash flows for levels below the consolidated entity and identifiable cash flows for a component separate from the consolidated entity are

not

meaningful. Therefore, the Company’s impairment test considers the consolidated entity as a single reporting unit.

Judgments about the recoverability of purchased finite lived intangible assets are made whenever events or changes in circumstances indicate that an impairment

may

exist. Each fiscal year the Company evaluates the estimated remaining useful lives of purchased intangible assets and whether events or changes in circumstances warrant a revision to the remaining periods of amortization. Recoverability of finite-lived intangible assets is measured by comparison of the carrying amount of the asset to the future undiscounted cash flows the asset is expected to generate.

The changes in the carrying amount of goodwill for the fiscal years ended

January 31, 2018

and

2019

were as follows:

	Gross Carrying Amount			Accumulated Impairment			Goodwill, Net
	(in thousands)
Balance at January 31, 2017	$	26,166		$	(15,608	)	$	10,558
Impact of foreign currency translation		465			—			465
Balance at January 31, 2018		26,631			(15,608	)		11,023
Additions		1,510			—			1,510
Impact of foreign currency translation		(110	)		—			(110	)
Balance at January 31, 2019	$	28,031		$	(15,608	)	$	12,423

not

been presented, as the effects were

not

material to the Company’s historical consolidated financial statements.

During each of the

fourth

quarters of fiscal

2019,

2018

and

2017,

an impairment analysis was performed at the enterprise level which compared the Company’s market capitalization to its net assets as of the test date,

November 30.

As the market capitalization substantially exceeded the Company’s net assets, there was

indication of goodwill impairment for fiscal

2019,

2018

and

2017.

Intangible Assets

	January 31, 201 9
	(in thousands)
Amortizable intangible assets
Customer relationships	$	1,348
Less: accumulated amortization		(115	)
Net amortizable intangible assets	$	1,233

The Company’s intangible assets as of

January 31, 2019

are related to the acquisitions completed in the

second

and

third

quarters of fiscal

2019.

Intangible assets are included in “Other assets, net” in the accompanying Consolidated Balance Sheets, and are amortized over an estimated

year useful life.

The following table summarizes the estimated amortization expense relating to the Company’s intangible assets as of

January 31, 2019:

Fiscal Years	(in thousands)
2020	$	270
2021		270
2022		270
2023		270
Thereafter		153
	$	1,233

INCOME TAXES

Income tax expense includes U.S. (federal and state) and foreign income taxes. Tax legislation commonly known as the Tax Cuts and Jobs Act of

2017

(the “Tax Act”) includes a mandatory

one

-time tax on accumulated earnings of foreign subsidiaries, and as a result, all previously unremitted earnings for which

U.S. deferred tax liability had been accrued have now become subject to U.S. federal income tax. The Company has completed the accounting associated with the Tax Act. The U.S. Securities and Exchange Commission (“SEC”) provided accounting and reporting guidance that allowed the Company to report provisional amounts within a measurement period up to

one

year from the enactment date. Complexities inherent in adopting the changes included additional guidance, interpretations of the law, and further analysis of data and tax positions. During fiscal

2019,

as part of completing its accounting, the Company recognized approximately

$1.3

million reduction to its final tax liability related to the Tax Act due to the ability to utilize additional foreign tax credits. The Company intends to continue to invest most or all of these earnings, as well as its capital in these subsidiaries, indefinitely outside of the U.S. and does

not

expect to incur any significant, additional taxes related to such amounts.

not

be realized. The Company considers many factors when assessing the likelihood of future realization of its deferred tax assets, including recent cumulative loss experience and expectations of future earnings, the carry-forward periods available to the Company for tax reporting purposes, and other relevant factors.

The Company utilizes a

two

-step approach to recognizing and measuring uncertain income tax positions (tax contingencies). The

first

step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than

not

that the position will be sustained on audit, including resolution of related appeals or litigation processes. The

second

step is to measure the tax benefit as the largest amount which is more than

50%

likely of being realized upon ultimate settlement. The Company considers many factors when evaluating its tax positions and estimating its tax benefits, which

may

require periodic adjustments and which

may

not

accurately forecast actual outcomes. The Company includes interest and penalties related to its tax contingencies in income tax expense.

STOCK-BASED COMPENSATION

The Company accounts for share-based payments (“equity awards”) to employees in accordance with ASC

718,

Compensation—Stock Compensation

(“ASC

718”

), which requires that share-based payments (to the extent they are compensatory) be recognized in the Consolidated Statements of Income and Comprehensive Income based on the fair values of the equity awards as measured at the grant date. The fair value of an equity award is recognized as stock-based compensation expense ratably over the vesting period of the equity award. Determining the fair value of equity awards at the grant date requires judgment.

Fair Value of RSUs

three

years.

Fair Value of SARs

The fair value of stock-settled stock appreciation rights (“SARs”) is determined on the grant date of the award using the Black-Scholes-Merton valuation model. One of the inputs to the Black-Scholes-Merton valuation model is the fair market value of the Company’s stock on the date of grant. Judgment is required in determining the remaining inputs to the Black-Scholes-Merton valuation model. These inputs include the expected life, volatility, the risk-free interest rate and the dividend rate. The following describes the Company’s policies with respect to determining these valuation inputs:

Expected Life -

The expected life valuation input includes a computation that is based on historical vested SAR exercises and post-vest expiration patterns and an estimate of the expected life for SARs that were fully vested and outstanding. Furthermore, based on the Company’s historical pattern of SAR exercises and post-vest expiration patterns the Company determined that there are

two

discernible populations which include the Company’s directors and officers (“D&O”) and all other QAD employees. The estimate of the expected life for SARs that were fully vested and outstanding is determined as the midpoint of a range as follows: the low end of the range assumes the fully vested and outstanding SARs are exercised or expire unexercised on the evaluation date and the high end of the range assumes that these SARs are exercised or expire unexercised upon contractual term.

Volatility -

The volatility valuation input is based on the historical volatility of the Company’s common stock, which the Company believes is representative of the expected volatility over the expected life of SARs.

Risk-Free Interest Rate -

The risk-free interest rate is based on the U.S. Treasury constant maturities in effect at the time of grant for the expected term of the SARs.

Dividend Rate -

The dividend rate is based on the Company’s historical dividend payments per share.

may

also indirectly affect the income tax expense. If the tax deduction is less than the deferred tax asset, the calculated shortfall would increase income tax expense. If the tax deduction is more than the deferred tax asset, the calculated windfall would decrease income tax expense.

COMPREHENSIVE INCOME

(LOSS)

not

provide for income taxes on foreign currency translation adjustments since it does

not

provide for taxes on the unremitted earnings of its foreign subsidiaries. The changes in “Accumulated other comprehensive loss” are included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss).

ADVERTISING EXPENSES

Advertising costs are expensed as incurred. Advertising expenses were

$0.7

million,

$0.7

million and

$1.1

million for fiscal years

2019,

2018

and

2017.

RESEARCH AND DEVELOPMENT

All costs incurred to establish the technological feasibility of the Company’s software products are expensed to research and development (“R&D”) as incurred. R&D expenses totaled

$54.0

million,

$47.7

million and

$43.6

million in fiscal years

2019,

2018

and

2017,

respectively.

OTHER (INCOME) EXPENSE, NET

The components of other (income) expense, net for fiscal

2019,

2018

and

2017

were as follows:

	Years Ended January 31,
	2019			2018			2017
	(in thousands)
Interest income	$	(2,600	)	$	(1,547	)	$	(696	)
Interest expense		643			669			670
Foreign exchange (gains) losses		(229	)		2,466			180
Change in fair value of interest rate swap		51			(377	)		(485	)
Other income, net		(209	)		(77	)		(131	)
Total other (income) expense, net	$	(2,344	)	$	1,134		$	(462	)

COMPUTATION OF NET INCOME

(LOSS)

PER SHARE

Net income (loss) per share of Class A common stock and Class B common stock is computed using the

two

-class method. Holders of Class A common stock are entitled to cash or stock dividends equal to

120%

of the amount of such dividend payable with respect to a share of Class B common stock.

The following table sets forth the computation of basic and diluted net income (loss) per share:

	Years Ended January 31,
	2019			2018			2017
	(in thousands, except per share data)
Net income (loss)	$	10,428		$	(9,065	)	$	(15,450	)
Less: dividends declared		(5,479	)		(5,367	)		(5,301	)
Undistributed net income (loss)	$	4,949		$	(14,432	)	$	(20,751	)

Net income (loss) per share – Class A Common Stock
Dividends declared	$	4,696		$	4,596		$	4,531
Allocation of undistributed net income (loss)		4,243			(12,358	)		(17,742	)

Net income (loss) attributable to Class A common stock	$	8,939		$	(7,762	)	$	(13,211	)

Weighted average shares of Class A common stock outstanding— basic		16,267			15,942			15,715
Weighted average potential shares of Class A common stock		1,585			—			—
Weighted average shares of Class A common stock and potential common shares outstanding— diluted		17,852			15,942			15,715

Basic net income (loss) per Class A common share	$	0.55		$	(0.49	)	$	(0.84	)
Diluted net income (loss) per Class A common share	$	0.50		$	(0.49	)	$	(0.84	)

Net income (loss) per share – Class B Common Stock
Dividends declared	$	783		$	771		$	770
Allocation of undistributed net income (loss)		706			(2,074	)		(3,009	)
Net income (loss) attributable to Class B common stock	$	1,489		$	(1,303	)	$	(2,239	)

Weighted average shares of Class B common stock outstanding— basic		3,256			3,213			3,206
Weighted average potential shares of Class B common stock		166			—			—
Weighted average shares of Class B common stock and potential common shares outstanding— diluted		3,422			3,213			3,206

Basic net income (loss) per Class B common share	$	0.46		$	(0.41	)	$	(0.70	)
Diluted net income (loss) per Class B common share	$	0.44		$	(0.41	)	$	(0.70	)

not

considered participating securities as they do

not

have rights to dividends or dividend equivalents prior to release or exercise.

The following table sets forth the number of potential common shares

not

included in the calculation of diluted earnings per share because their effects were anti-dilutive:

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
Class A		325		3,236		2,985
Class B		—		380		378

RECENT ACCOUNTING PRONOUNCEMENTS

With the exception of those discussed below, there have been

recent changes in accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”) or adopted by the Company during the fiscal year ended

January 31, 2019,

that are of significance, or potential significance, to the Company.

Recent Accounting Pronouncements Adopted

October 2016,

the FASB issued ASU

2016

16,

Intra-Entity Transfers of Assets Other Than Inventory

, which removes the prohibition against the immediate recognition of the current and deferred income tax effects of intra-entity transfers other than inventory. The guidance is effective for annual periods, including interim periods within those annual periods, beginning after

December 15, 2017

with early adoption permitted as of the beginning of the annual reporting period in which the ASU was issued. ASU

2016

was adopted by the Company effective

February 1, 2018

on a modified retrospective basis, resulting in a

$9.6

million decrease to accumulated deficit and a corresponding increase to deferred tax assets.

August 2016,

the FASB issued ASU

2016

15,

Statement of Cash Flows (Topic

230

) Classification of Certain Cash Receipts and Cash Payments

, that modifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance is effective for fiscal years beginning after

December 15, 2017

and interim periods within those fiscal years, with earlier adoption permitted. ASU

2016

was adopted by the Company effective

February 1, 2018

on a retrospective basis, with

material changes reflected in the Consolidated Statement of Cash Flows.

May 2014,

the FASB issued ASU

2014

09,

Revenue from Contracts with Customers

(Topic

606

), which supersedes the revenue recognition requirements in

Revenue Recognition

(Topic

605

) and Subtopic

985

605

Software - Revenue Recognition

. Topic

605

and Subtopic

985

605

are collectively referred to as “Topic

605”

or “prior GAAP.” Under Topic

606,

revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, Topic

606

requires enhanced disclosures, including disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers.

The Company adopted Topic

606

on the

first

day of fiscal

2019

using the modified retrospective transition method. Under this method, QAD evaluated contracts that were in effect at the beginning of fiscal

2019

as if those contracts had been accounted for under Topic

606.

The Company did

not

evaluate individual modifications for those periods prior to the adoption date, but the aggregate effect of all modifications as of the adoption date and such effects are provided below. Under the modified retrospective transition method, periods prior to the adoption date were

not

adjusted and continue to be reported in accordance with historical, pre-Topic

606

accounting. A cumulative catch-up adjustment was recorded to beginning accumulated deficit to reflect the impact of all existing arrangements under Topic

606.

The most significant impacts of the adoption of Topic

606

were as follows:

●

not

have VSOE. At adoption, QAD decreased accumulated deficit and deferred revenue by

$2.0

million as this revenue would otherwise have been recognized in future periods according to prior GAAP;

●

Removal of the limitation on contingent revenue resulted in revenue being recognized earlier for certain contracts. At adoption, QAD decreased accumulated deficit and increased contract assets by

$0.8

million as this revenue would otherwise have been recognized in future periods as invoiced according to prior GAAP;

●

Contracts containing a future option to the customer represented a material right which resulted in deferral of revenue. At adoption, QAD increased accumulated deficit and deferred revenue by

$0.3

million as this revenue would have been otherwise earned in previous periods according to prior GAAP;

●

Commission expenses related to new cloud and maintenance contracts are

longer expensed as incurred; rather these incremental commission costs and other associated fringe benefits are capitalized and amortized over the associated term of economic benefit which the Company has determined to be

five

years. As a result, QAD decreased accumulated deficit and increased other current and non-current assets by

$9.1

million at the adoption date;

●

Sales agent fees to obtain new cloud and maintenance contracts are

longer be expensed as incurred; rather these costs will be capitalized and amortized over the associated term of economic benefit which the Company has determined to be

five

years. As a result, QAD decreased accumulated deficit and increased other current and non-current assets by

$1.0

million at the adoption date; and

●

Cloud environment setup costs incurred to fulfill new cloud customer contracts are

longer expensed as incurred; rather these costs are capitalized and amortized over the associated term of economic benefit which the Company has determined to be

five

years. As a result, QAD decreased accumulated deficit and increased other current and non-current assets by

$1.5

million at the adoption date.

The tax impact of the above adjustments was assessed and, at adoption, QAD increased accumulated deficit and decreased net deferred tax assets by

$1.6

million.

Adjustments to beginning consolidated balance sheet accounts

first

day of fiscal

2019:

	Jan. 31, 2018			Topic 606			ASU2016-16 (1)		Feb. 1, 2018
	(in thousands)
Assets
Current assets:
Cash and equivalents	$	147,023		$	-		$	-	$	147,023
Accounts receivable, net		83,518			-			-		83,518
Other current assets, net		15,856			4,013			-		19,869
Total current assets		246,397			4,013			-		250,410
Property and equipment, net		30,408			-			-		30,408
Capitalized software costs, net		990			-			-		990
Goodwill		11,023			-			-		11,023
Deferred tax assets, net		7,944			(1,643	)		9,584		15,885
Other assets, net		3,055			8,421			-		11,476
Total assets	$	299,817		$	10,791		$	9,584	$	320,192

Liabilities and stockholders’ equity
Current portion of long-term debt	$	466		$	-		$	-	$	466
Accounts payable		14,818			-			-		14,818
Deferred revenue		116,693			(1,239	)		-		115,454
Other current liabilities		43,460			-			-		43,460
Total current liabilities		175,437			(1,239	)		-		174,198
Long-term debt		13,313			-			-		13,313
Other liabilities		5,439			(511	)		-		4,928
Stockholders’ equity
Common stock - Class A		16			-			-		16
Common stock - Class B		4			-			-		4
Additional paid-in capital		200,456			-			-		200,456
Treasury stock		(12,461	)		-			-		(12,461	)
Accumulated deficit		(75,559	)		12,541			9,584		(53,434	)
Accumulated other comprehensive loss		(6,828	)		-			-		(6,828	)
Total stockholders’ equity		105,628			12,541			9,584		127,753
Total liabilities and stockholders’ equity	$	299,817		$	10,791		$	9,584	$	320,192

(

)

For further information about the adoption of

ASU2016

Intra-entity Transfers of Assets Other Than Inventory

see Note

“Income Taxes.”

The following table summarizes the effects of adopting Topic

606

on the Company’s Consolidated Balance Sheet as of

January 31, 2019:

	As reported under Topic 606			Adjustments			Balances under Prior GAAP
	(in thousands)
Assets
Current assets:
Cash and equivalents	$	139,413		$	-		$	139,413
Short-term investments		1,200			-			1,200
Accounts receivable, net		81,577			-			81,577
Other current assets, net		22,150			(3,738	)		18,412
Total current assets		244,340			(3,738	)		240,602
Property and equipment, net		29,621			-			29,621
Capitalized software costs, net		1,598			-			1,598
Goodwill		12,423			-			12,423
Deferred tax assets, net		16,172			206			16,378
Other assets, net		13,020			(7,989	)		5,031
Total assets	$	317,174		$	(11,521	)	$	305,653

Liabilities and stockholders’ equity
Current portion of long-term debt	$	487		$	-		$	487
Accounts payable		9,902			-			9,902
Deferred revenue		115,253			5,811			121,064
Other current liabilities		40,348			-			40,348
Total current liabilities		165,990			5,811			171,801
Long-term debt		12,836			-			12,836
Other liabilities		5,101			422			5,523
Stockholders’ equity
Common stock - Class A		16			-			16
Common stock - Class B		4			-			4
Additional paid-in capital		196,723			-			196,723
Treasury stock		(7,350	)		-			(7,350	)
Accumulated deficit		(48,485	)		(17,757	)		(66,242	)
Accumulated other comprehensive loss		(7,661	)		3			(7,658	)
Total stockholders’ equity		133,247			(17,754	)		115,493
Total liabilities and stockholders’ equity	$	317,174		$	(11,521	)	$	305,653

The following table summarizes the effects of adopting Topic

606

on the Company’s Consolidated Statement of Income for the

twelve

months ended

January 31, 2019:

	As reported under Topic 606			Adjustments			Balances under Prior GAAP
	(in thousands, except per share amounts)
Revenue
Subscription fees	$	91,861		$	(1,628	)	$	90,233
License fees		25,568			(2,538	)		23,030
Maintenance and other		122,936			298			123,234
Professional services		92,651			(1,969	)		90,682
Total revenue		333,016			(5,837	)		327,179
Cost of revenue:
Subscription fees		34,128			(88	)		34,040
License fees		2,714			-			2,714
Maintenance and other		31,307			-			31,307
Professional services		87,735			-			87,735
Total cost of revenue		155,884			(88	)		155,796
Gross profit		177,132			(5,749	)		171,383
Operating expenses:
Sales and marketing		78,207			96			78,303
Research and development		53,993			(236	)		53,757
General and administrative		35,248			-			35,248
Amortization of intangible assets from acquisitions		111			-			111
Total operating expenses		167,559			(140	)		167,419
Operating income		9,573			(5,609	)		3,964
Other (income) expense
Interest income		(2,600	)		-			(2,600	)
Interest expense		643			-			643
Other income		(387	)		-			(387	)
Total other income, net		(2,344	)		-			(2,344	)
Income before income taxes		11,917			(5,609	)		6,308
Income tax expense		1,489			(393	)		1,096
Net income	$	10,428		$	(5,216	)	$	5,212
Basic income per share
Class A	$	0.55		$	(0.28	)	$	0.27
Class B	$	0.46		$	(0.23	)	$	0.23
Diluted income per share
Class A	$	0.50		$	(0.25	)	$	0.25
Class B	$	0.44		$	(0.22	)	$	0.22

The following table summarizes the effects of adopting Topic

606

on the financial statement line items of the Company’s Consolidated Statement of Cash Flows for the

twelve

months ended

January 31, 2019:

	As reported under Topic 606			Adjustments			Balances under Prior GAAP
	(in thousands)
Net income	$	10,428		$	(5,216	)	$	5,212
Amortization of costs capitalized to obtain and fulfill contracts		4,176			(3,348	)		828
Net change in valuation allowance		3,224			648			3,872
Changes in operating assets and liabilities:
Costs capitalized to obtain and fulfill contracts		(4,130	)		3,354			(776	)
Other assets		(2,890	)		76			(2,814	)
Deferred revenue		3,031			4,483			7,514
Net cash provided by operating activities		19,007			(3	)		19,004
Effect of exchange rates on cash and equivalents		(2,668	)		3			(2,665	)

Recent Accounting

Pronouncements

Not

Yet

Adopted

February 2016,

the FASB established Topic

842,

Leases, by issuing Accounting Standards Update (“ASU”)

No.

2016

02,

which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic

842

was subsequently amended by ASU

No.

2018

01,

Land Easement Practical Expedient for Transition to Topic

842;

ASU

No.

2018

10,

Codification Improvements to Topic

842,

Leases; and ASU

No.

2018

11,

Targeted Improvements. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to recognize an ROU asset and lease liability on the balance sheet for all leases with a term longer than

months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The new standard is effective for QAD on

February 1, 2019.

QAD will adopt the new standard on its effective date.

A modified retrospective transition approach is required, applying the new standard to all leases existing at the date of initial application. An entity

may

choose to use either (

) its effective date or (

) the beginning of the earliest comparative period presented in the financial statements as its date of initial application. If an entity chooses the

second

option, the transition requirements for existing leases also apply to leases entered into between the date of initial application and the effective date. The entity must also recast its comparative period financial statements and provide the disclosures required by the new standard for the comparative periods. QAD plans to elect to use the effective date as the date of initial application. Consequently, financial information will

not

be updated and the disclosures required under the new standard will

not

be provided for dates and periods before

January 31, 2019.

The new standard provides a number of optional practical expedients in transition. QAD plans to elect the ‘package of practical expedients’, which permits the Company

not

to reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. QAD also plans to elect the use-of-hindsight practical expedient.

not

expect ASC

2016

will have a material impact to the Company’s consolidated statement of operations or net cash provided by operating activities. In addition, the Company does

not

expect a significant change in its leasing activities between now and adoption.

On adoption, the Company currently expects to recognize additional operating liabilities and corresponding ROU assets in the range of

$11.0

million to

$16.0

million based on the present value of the remaining minimum rental payments under current leasing standards for existing leases.

not

recognize ROU assets or lease liabilities, and this includes

not

recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. The Company also currently expects to elect the practical expedient to

not

separate lease and non-lease components for all of its leases.

January 2017,

the FASB issued ASU

2017

04,

Intangibles—Goodwill and Other (Topic

350

): Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill to eliminate Step

from the goodwill impairment test. In addition, it eliminates the requirements for any reporting unit with a

zero

or negative carrying amount to perform a qualitative assessment and, if that fails that qualitative test, to perform Step

of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. The amendments will be effective for the Company’s fiscal year beginning

February 1, 2020.

Early adoption is permitted. The new guidance is required to be applied on a prospective basis. The Company does

not

believe adoption of ASU

2017

will have a material impact on its consolidated financial statements.

XML 24 R9.htm IDEA: XBRL DOCUMENT

Note 2 - Revenue

12 Months Ended

Jan. 31, 2019

Revenue from Contract with Customer [Text Block]

REVENUE

QAD offers its software using the same underlying technology via

two

models: a traditional on-premises licensing model and a cloud-based subscription model. The on-premises model involves the sale or license of software on a perpetual basis to customers who take possession of the software and install and maintain the software on their own hardware. Under the cloud-based subscription delivery model, QAD provides access to its software on a hosted basis as a service and customers generally do

not

have the contractual right to take possession of the software.

The Company determines revenue recognition through the following steps:

Identification of the contract, or contracts, with a customer;

Identification of the performance obligations in the contract;

Determination of the transaction price;

Allocation of the transaction price to the performance obligations in the contract; and

Recognition of revenue when, or as, the Company satisfies a performance obligation.

Revenue is presented net of sales, value-added and other taxes collected from customers and remitted to government authorities.

Performance Obligations

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account under Topic

606.

The transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied by transferring the promised good or service to the customer. The Company identifies and tracks the performance obligations at contract inception so that the Company can monitor and account for the performance obligations over the life of the contract.

For contracts with multiple performance obligations where the contracted price differs from the standalone selling price ("SSP") for any distinct good or service, the Company

may

be required to allocate the contract’s transaction price to each performance obligation using its best estimate for the SSP. SSP is assessed annually using a historical analysis of contracts with customers executed in the most recently completed fiscal year to determine the range of selling prices applicable to a distinct good or service.

not

directly observable because the Company does

not

sell the license, product or service separately, the Company determines the SSP using information that

may

include market conditions and other observable inputs. In making these judgments, the Company analyzes various factors, including its pricing methodology and consistency, size of the arrangement, length of term, customer demographics and overall market and economic conditions. Based on these results, the estimated SSP is set for each distinct product or service delivered to customers.

Subscription

months. The Company generally invoices its customers in advance in quarterly or annual installments and typical payment terms provide that customers make payment within

days of invoice.

Software Licenses

Transfer of control for software is considered to have occurred upon electronic delivery of the license key that provides immediate availability of the product to the customer. The Company’s typical payment terms tend to vary by region but its standard payment terms are within

days of invoice.

Maintenance

Revenue from support services and product updates, referred to as maintenance revenue, is recognized ratably over the term of the maintenance period, which in most instances is

one

year. Software license updates provide customers with rights to unspecified software product updates, maintenance releases and patches released during the term of the support period on a when-and-if available basis. Product support includes Internet access to technical content, as well as Internet and telephone access to technical support personnel. The Company’s customers purchase both product support and license updates when they acquire new software licenses. In addition, a majority of customers renew their support services contracts annually and typical payment terms provide that customers make payment within

days of invoice.

Professional Services

Revenue from professional services is typically comprised of implementation, development, training or other consulting services. Consulting services are generally sold on a time-and-materials or fixed fee basis and can include services ranging from software installation to data conversion and building non-complex interfaces to allow the software to operate in integrated environments. The Company recognizes revenue for time-and-materials arrangements as the services are performed. In fixed fee arrangements, revenue is recognized as services are performed as measured by costs incurred to date, compared to total estimated costs to complete the services project. Management applies judgment when estimating project status and the costs necessary to complete the services projects. A number of internal and external factors can affect these estimates, including labor rates, utilization and efficiency variances and specification and testing requirement changes. Services are generally invoiced upon milestones in the contract or upon consumption of the hourly resources and payments are typically due

days after invoice.

Indirect Sales Channels

five

revenue recognition steps noted above. Revenue from distributor transactions is recorded on a net basis (the amount actually received by the Company from the distributor). QAD does

not

offer rights of return, product rotation or price protection to any of its distributors.

Disaggregated Revenue

The Company’s revenue by geography is as follows:

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
North America	$	162,307	$	141,614	$	129,436
EMEA		96,989		89,693		81,765
Asia Pacific		51,628		50,689		47,742
Latin America		22,092		23,022		19,030
Total revenue	$	333,016	$	305,018	$	277,973

The Company’s revenue by industry is as follows:

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
Automotive	$	128,249	$	113,579	$	96,794
Consumer products and food and beverage		53,637		47,273		47,796
High technology and industrial products		106,658		99,990		91,652
Life sciences and other		44,472		44,176		41,731
Total revenue	$	333,016	$	305,018	$	277,973

Management Judgments

More judgments and estimates are required under Topic

606

than were required under Topic

605.

Due to the complexity of certain contracts, the actual revenue recognition treatment required under Topic

606

for the Company’s arrangements

may

be dependent on contract-specific terms and

may

vary in some instances.

If a group of agreements are entered at or near the same time and so closely related that they are, in effect, part of a single arrangement, such agreements are deemed to be combined as

one

arrangement for revenue recognition purposes. The Company exercises judgment to evaluate the relevant facts and circumstances in determining whether agreements should be accounted for separately or as a single arrangement. The Company’s judgments about whether a group of contracts comprise a single arrangement can affect the allocation of consideration to the distinct performance obligations, which could have an effect on results of operations for the periods involved.

not

occur.

Contract Balances

The timing of revenue recognition

may

differ from the timing of invoicing to customers and these timing differences result in receivables, contract assets, or contract liabilities (deferred revenue) on the Company’s Consolidated Balance Sheets. QAD records a contract asset when the Company has transferred goods or services but does

not

yet have the right to consideration. QAD records deferred revenue when the Company has received or has the right to receive consideration but has

not

yet transferred goods or services to the customer.

not

billed as of

January 31, 2019.

The contract assets are transferred to receivables when the rights to consideration become unconditional, usually upon completion of a milestone.

The Company’s contract balances are as follows:

	As of
	January 31, 2019		February 1, 2018
	(In thousands)
Contract assets, short-term (in Other current assets, net)	$	2,058	$	890
Contract assets, long-term (in Other assets, net)		—		110
Total contract assets	$	2,058	$	1,000
Deferred revenue, short-term	$	115,253	$	115,454
Deferred revenue, long-term (in Other labilities)		1,465		1,644
Total deferred revenue	$	116,718	$	117,098

During the fiscal year ended

January 31, 2019,

the Company recognized

$112.1

million of revenue that was included in the deferred revenue balance, as adjusted for Topic

606,

at the beginning of the period. All other activity in deferred revenue is due to the timing of invoicing in relation to the timing of revenue recognition.

$262.4

million as of

January 31, 2019,

of which the Company expects to recognize approximately

$166.5

million as revenue over the next

months and the remainder thereafter. In instances where the timing of revenue recognition differs from the timing of invoicing, QAD has determined that its contracts generally do

not

include a significant financing component. The primary purpose of invoicing terms is to provide customers with simplified and predictable ways of purchasing the Company’s products and services, and

not

to facilitate financing arrangements.

Deferred Revenue

twelve

-month period is recorded as non-current deferred revenue, and the remaining portion is recorded as current deferred revenue.

Deferred revenues consisted of the following:

	As of
	January 31, 2019		January 31, 2018
	(in thousands)
Deferred maintenance	$	77,037	$	80,811
Deferred subscription		34,020		31,034
Deferred professional services		2,146		3,523
Deferred license		1,713		756
Deferred other revenue		337		569
Deferred revenues, current		115,253		116,693
Deferred revenues, non-current (in Other liabilities)		1,465		2,156
Total deferred revenues	$	116,718	$	118,849

Practical Expedients and Exemptions

There are several practical expedients and exemptions allowed under Topic

606

that impact timing of revenue recognition and the Company’s disclosures. Below is a list of practical expedients the Company applied in the adoption and application of Topic

606:

Application

●

The Company does

not

evaluate a contract for a significant financing component if payment is expected within

one

year or less from the transfer of the promised items to the customer.

●

The Company generally expenses sales commissions and sales agent fees when incurred when the amortization period would have been

one

year or less. These costs are recorded within sales and marketing expense in the Consolidated Statement of Operations and Comprehensive Income (Loss).

●

The Company also used the practical expedient to calculate contract acquisition costs based on a portfolio of contracts with similar characteristics instead of a contract by contract analysis.

●

The Company does

not

disclose the value of unsatisfied performance obligations for contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed (applies to time-and-material engagements).

Modified Retrospective Transition Adjustments

●

Costs to Obtain and Fulfill a Contract

five

years. These deferred costs are classified as current or non-current based on the timing of when the Company expects to recognize the expense. Incremental costs related to renewals are expensed as incurred because the term of economic benefit is

one

year or less. The current and non-current portions of deferred commissions are included in other current assets and other long-term assets, respectively, in the Company’s Consolidated Balance Sheets. At

January 31, 2019

and

February1,

2018,

the Company had

$11.0

million and

$10.1

million, respectively, of deferred commissions and sales agent fees. For the fiscal year ended

January 31, 2019,

$3.6

million of amortization expense related to deferred commissions and sales agent fees was recorded in sales and marketing expense in the Company’s Consolidated Statement of Operations and Comprehensive Income (Loss).

January 31, 2019

and

February1,

2018

the Company had deferred setup costs of

$1.5

million. These costs are amortized over the term of economic benefit which the Company has determined to be

five

years. During the fiscal year ended

January 31, 2019,

$0.5

million of amortization expense related to deferred setup costs was recorded in cost of subscription in the Company’s Consolidated Statement of Operations and Comprehensive Income (Loss).

impairment losses were recognized during the

twelve

months ended

January 31, 2019.

XML 25 R10.htm IDEA: XBRL DOCUMENT

Note 3 - Fair Value Measurements

12 Months Ended

Jan. 31, 2019

Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]

. FAIR VALUE MEASUREMENTS

When determining fair value, the Company uses a

three

-tier value hierarchy which prioritizes the inputs used in measuring fair value. Whenever possible, the Company uses observable market data. The Company relies on unobservable inputs only when observable market data is

not

available. Classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability.

• Level

- Money market mutual funds and short-term investments are recorded at fair value based upon quoted market prices.

• Level

- The asset or liability related to the interest rate swap is recorded at fair value based upon a valuation model that uses relevant observable market inputs at quoted intervals, such as forward yield curves.

The following table sets forth the financial assets, measured at fair value, as of

January 31, 2019

and

January 31, 2018:

	Fair value measurement at reporting date using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Money market mutual funds as of January 31, 2019	$	107,855
Money market mutual funds as of January 31, 2018	$	115,416
Short-term investments as of January 31, 2019	$	1,200
Short-term investments as of January 31, 2018	$	—
Asset related to the interest rate swap as of January 31, 2019			$	136
Asset related to the interest rate swap as of January 31, 2018			$	187

Money market mutual funds are classified as part of “Cash and equivalents” in the accompanying Consolidated Balance Sheets. The amount of cash and equivalents deposited with commercial banks was

$31.6

million and

$32

million at

January 31, 2019

and

January 31, 2018,

respectively.

inputs.

There have been

transfers between fair value measurements levels during the

twelve

months ended

January 31, 2019.

Derivative Instruments

The Company entered into an interest rate swap in

May 2012

to mitigate the exposure to the variability of

one

month LIBOR for its floating rate debt described in Note

“Debt” within these Notes to Consolidated Financial Statements. The fair value of the interest rate swap is reflected as an asset or liability in the Consolidated Balance Sheets and the change in fair value is reported in “Other (income) expense, net” in the Consolidated Statements of Operations and Comprehensive Income (Loss). The fair value of the interest rate swap is estimated as the net present value of projected cash flows based upon forward interest rates at the balance sheet date.

The fair values of the derivative instrument at

January 31, 2019

and

January 31, 2018

were as follows (in thousands):

	Asset
		Fair Value
	Balance Sheet Location	January 31, 2019		January 31, 2018
Derivative instrument:
Interest rate swap	Other assets, net	$	136	$	187
Total		$	136	$	187

The change in fair value of the interest rate swap recognized in the Consolidated Statement of Operations and Comprehensive Income (Loss) for the

twelve

months ended

January 31, 2019,

2018

and

2017

was $(

51,000

$377,000

and

$485,000,

respectively.

XML 26 R11.htm IDEA: XBRL DOCUMENT

Note 4 - Income Taxes

12 Months Ended

Jan. 31, 2019

Income Tax Disclosure [Text Block]

. INCOME TAXES

December 22, 2017,

the United States signed into law the Tax Cuts and Job Act, (the “Tax Act”), which imposes a repatriation tax on accumulated earnings of foreign subsidiaries, implements a territorial tax system together with a current tax on accumulated foreign earnings and lowers the general corporate income tax rate to

21%.

The Tax Act requires the Company to pay a

one

-time deemed repatriation income tax on the net accumulated earnings of its foreign subsidiaries at a tax rate of

15.5%.

The Tax Act significantly changes how the U.S. taxes corporations. The Tax Act requires complex computations to be performed that were

not

previously required, significant judgments to be made and significant estimates in calculations. The U.S. Treasury Department, the Internal Revenue Service, and other standard-setting bodies could interpret or issue guidance on how provisions of the Tax Act will be applied or otherwise administered that is different from the Company’s interpretation. The Securities and Exchange Commission staff issued Staff Accounting Bulletin

No.118

Income Tax Accounting Implications of the Tax Cuts and Jobs Act

(“SAB

118”

SAB118

allowed companies to record provisional amounts during a measurement period

not

to extend beyond

one

year of the enactment date. The Company's accounting for the Tax Act was completed within the measurement period provided by SAB

118.

The Company completed its calculations of the

one

-time deemed repatriation tax and finalized its U.S. federal income tax return in the

fourth

quarter of fiscal

2019.

The provisional tax expense for the

one

-time deemed repatriation tax was reduced from

$2.0

million estimated in fiscal

2018

$0.7

million, primarily due to the Company’s ability to use more foreign tax credits to reduce the transition tax liability. In the

fourth

quarter of fiscal

2019,

the Company recorded a tax benefit of

$1.3

million to reduce the initial accrual of

$2.0

million to

$0.7

million. The Company elected to pay the repatriation tax liability over a period of

eight

years as permitted by the Tax Act.

The Tax Act made broad fundamental changes to the U.S. international tax system with the enactment of Section

951A,

global intangible low-tax income ("GILTI"). GILTI applies to the Company’s foreign businesses that operate in corporate form and

may

cause the foreign income to be reported on its U.S. federal income tax return beginning in fiscal

2019.

As a result, the Company’s foreign earnings

may

be subject to U.S. taxes. The Company calculated the GILTI provision based on the proposed regulations released on

September 13, 2018.

These regulations provide computational, definitional, and anti-avoidance rule guidance relating to the determination of a U.S. shareholder’s GILTI inclusion. For fiscal

2019,

the Company does

not

have a GILTI inclusion due to a loss in Ireland.

The Company has elected to treat the deferred taxes related to GILTI provisions as a current-period expense when incurred (the “period cost method”).

Consolidated net income (loss) before income taxes is summarized as follows:

	Years Ended January 31,
	2019		2018			2017
	(in thousands)
Domestic net income (loss) before income taxes	$	6,562	$	(4,793	)	$	(3,774	)
Foreign net income before income taxes		5,355		585			7,600
Consolidated net income (loss) before income taxes	$	11,917	$	(4,208	)	$	3,826

Income tax expense is summarized as follows:

	Years Ended January 31,
	2019			2018			2017
	(in thousands)
Current:
U.S. federal	$	(829	)	$	2,862		$	437
State		(13	)		38			30
Foreign		3,784			2,433			3,894
Subtotal		2,942			5,333			4,361
Deferred:
U.S. federal		79			(519	)		11,564
State		(30	)		19			3,610
Foreign		(1,502	)		24			(348	)
Subtotal		(1,453	)		(476	)		14,826
Equity adjustment		—			—			89
Total	$	1,489		$	4,857		$	19,276

Actual income tax expense differs from that obtained by applying the statutory federal income tax rate to income before income taxes as follows:

	Years Ended January 31,
	2019			2018			2017
	(in thousands)
Computed expected tax expense (benefit)	$	2,503		$	(1,431	)	$	1,301
State income taxes, net of federal income tax expense		96			(157	)		(54	)
Incremental tax expense from foreign operations		715			923			137
Equity compensation		(2,916	)		(1,004	)		(29	)
Foreign withholding taxes		1,089			794			676
Net change in valuation allowance		3,224			5,448			16,861
Net change in contingency reserve		(71	)		(81	)		198
Non-deductible expenses		1,149			(407	)		660
Benefit of tax credits		(3,483	)		(1,766	)		(1,243	)
Subpart F income		101			302			345
U.S. Tax Reform (the “Tax Act”)		(1,312	)		1,951			—
Other		394			285			424
Total	$	1,489		$	4,857		$	19,276

The Company files U.S. federal, state, and foreign tax returns that are subject to audit by various tax authorities. The Company is currently under audit in:

●

India for fiscal years ended

March 31, 2010,

2013,

and

2014

●

Netherlands for fiscal year ended

January 31, 2016

●

Germany for fiscal years ended

January 31, 2015,

2016

and

2017

	●	Switzerland for fiscal years ended January 31, 2014, 2015, 2016, 2017 and 2018
	●	Tennessee for fiscal years ended January 31, 2014, 2015, 2016, 2017 and 2018

During fiscal

2019,

the Company closed the following audits with small or

adjustment:

●

Iowa for fiscal year ended

January 31, 2014

●

Kentucky for fiscal year ended

January 31, 2016

●

South Africa for fiscal years ended

January 31, 2016

and

2017

As of

January 31, 2019,

the Company continues to maintain its permanent reinvestment assertion under APB

for all of its foreign subsidiaries as it relates to withholding taxes, state taxes and currency translation. These permanently reinvested earnings are approximately

$89

million at

January 31, 2019.

It is

not

practicable for the Company to determine the amount of the related unrecognized deferred income tax liability.

35%

21%

for years after

2017.

Accordingly, the Company has remeasured its deferred taxes as of

January 31, 2019

to reflect the reduced rate.

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	January 31,
	2019			2018
	(in thousands)
Deferred tax assets:
Allowance for doubtful accounts and sales adjustments	$	520		$	367
Accrued vacation		1,568			1,590
Tax credits		20,908			18,583
Deferred revenue		2,849			3,493
Net operating loss carry forwards		10,597			10,337
Accrued expenses - other		1,802			1,849
Other comprehensive income		1,189			1,164
Section 263(a) interest capitalization		198			206
Intellectual property		7,917			—
Equity compensation		4,626			4,380
Carryforward of Irish amortization		1,630			—
Other		2,345			1,243
Total deferred tax assets		56,149			43,212
Less valuation allowance		(34,898	)		(33,665	)
Less netting of unrecognized tax benefits against deferred tax assets		(886	)		(930	)
Deferred tax assets, net of valuation allowance	$	20,365		$	8,617
Deferred tax liabilities:
Depreciation and amortization		(804	)		(442	)
Topic 606: capitalized commissions and cloud costs		(2,891	)		—
Other		(498	)		(231	)
Total deferred tax liabilities		(4,193	)		(673	)
Total net deferred tax assets	$	16,172		$	7,944

The Company reviews its net deferred tax assets by jurisdiction on a quarterly basis to determine whether a valuation allowance is necessary based on the more-likely-than-

not

standard. Management assessed historic, current and future financial projections by jurisdiction to draw its conclusion. In fiscal year

2019,

the Company continued to apply a valuation allowance against its U.S. federal and state deferred income tax assets due to a U.S.

three

-year cumulative loss, future earmarked investment in research and development, and hiring due to the Company’s business transition to the cloud. When the Company’s operating performance improves on a sustained basis, the conclusion regarding the need for a valuation allowance is likely to change, resulting in the reversal of some or all of the valuation allowance in the future. At

January 31, 2019

and

2018,

the worldwide valuation allowance attributable to deferred tax assets was

$34.9

million and

$33.7

million, respectively.

In the

fourth

quarter of fiscal

2018,

the Company had an intra-entity sale of intellectual property that resulted in

$10

million of additional tax basis. Upon adoption of ASU

2016

in the

first

quarter of fiscal

2019,

the Company established a deferred tax asset of

$9.6

million that will be amortized over

six

years for tax purposes. This benefit was recorded to retained earnings on

February 1, 2018

under the transition rules.

The Company has gross net operating loss carryforwards of

$38.5

million and tax credit carryforwards of

$23.2

million as of

January 31, 2019.

The majority of the Company’s net operating loss carryforwards do

not

expire. The Company’s foreign tax credits will begin to expire in fiscal year

2028.

The Company has

$6.5

million of U.S. and

$10.8

million of California R&D credits that have been valued. The Company has

$167,000

of U.S. R&D tax credit that will expire on

October 2019.

These credits are unlikely to be utilized before expiration. Australian and California R&D tax credits do

not

expire.

During the fiscal year ended

January 31, 2019,

the Company decreased its reserves for uncertain tax positions by

$0.5

million. Interest and penalties on accrued but unpaid taxes are classified in the Consolidated Statements of Operations and Comprehensive Income (Loss) as income tax expense. The liability for unrecognized tax benefits that

may

be recognized in the next

twelve

months is classified as short-term in the Company’s Consolidated Balance Sheet while the remainder is classified as long-term.

The following table reconciles the gross amounts of unrecognized tax benefits at the beginning and end of the period:

	Years Ended January 31,
	2019			2018
	(in thousands)
Unrecognized tax benefits at beginning of the year	$	1,662		$	1,743
Decreases as a result of tax positions taken in a prior period		(26	)		(115	)
Increases as a result of tax positions taken in the prior period		—			58
Reduction as a result of a lapse of the statute of limitations		(44	)		(24	)
Decreases as a result of settlements with taxing authorities		(424	)		—
Unrecognized tax benefit at end of year	$	1,168		$	1,662

All of the unrecognized tax benefits included in the Consolidated Balance Sheet at

January 31, 2019

would impact the effective tax rate on income from continuing operations, if recognized.

The total amount of interest recognized in the Consolidated Statement of Operations and Comprehensive Income for unpaid taxes was

$9,000

for the year ended

January 31, 2019.

The total amount of interest and penalties recognized in the Consolidated Balance Sheet at

January 31, 2019

was

$0.1

million.

The Company files U.S. federal, state, and foreign income tax returns in jurisdictions with varying statute of limitations. The years that

may

be subject to examination will vary by jurisdiction. Below is a list of our material jurisdictions and the years open for audit as of fiscal

2019:

Jurisdiction	Years Open for Audit
U.S. federal	Fiscal year 2016 and beyond
California	Fiscal year 2015 and beyond
Michigan	Fiscal year 2015 and beyond
New Jersey	Fiscal year 2015 and beyond
Australia	Fiscal year 2015 and beyond
France	Fiscal year 2016 and beyond
India	Fiscal years 2010, 2013 and 2014
Ireland	Fiscal year 2015 and beyond
United Kingdom	Fiscal year 2018 and beyond
China	Calendar year 2014 and beyond
Mexico	Calendar year 2014 and beyond

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Note 5 - Stockholders' Equity

12 Months Ended

Jan. 31, 2019

Stockholders' Equity Note Disclosure [Text Block]

. STOCKHOLDERS’ EQUITY

Common Stock

The Company has

two

classes of common stock. Each share of Class B Common Stock entitles the holder to

one

vote and each share of Class A Common Stock entitles the holder to

1/20th

one

vote. On all matters, the Class A Common Stock and the Class B Common Stock will vote as a single class, except as otherwise required by applicable law or the articles of incorporation. Neither the Class A Common Stock nor the Class B Common Stock are convertible into the other, unless either or both classes becomes subject to exclusion from the principal national securities exchange on which such securities are traded, in which case all outstanding shares of Class A Common Stock

may

be converted into shares of Class B Common Stock on a share-for-share basis by resolution of the Board of Directors. There are

restrictions on the transferability of either class.

120%

of the value of any such dividend payable with respect to a share of Class B Common Stock, except for dividends declared for the purpose of distributing all or some of the proceeds received by the Company from any transaction determined by the Board to be a material transaction

not

in the ordinary course of business or for the purpose of effecting a spin-off of a subsidiary of the Company (in either case, such dividend will be paid ratably, on a per share basis, to all holders of Common Stock).

Dividends

The following table sets forth the dividends declared and paid by the Company during fiscal

2019:

Declaration Date	Record Date	Payable	Dividend Class A		Dividend Class B		(in thousands)
12/11/2018	12/26/2018	1/8/2019	$	0.072	$	0.06	$	1,374
9/11/2018	9/25/2018	10/2/2018	$	0.072	$	0.06	$	1,374
6/11/2018	6/25/2018	7/6/2018	$	0.072	$	0.06	$	1,372
4/10/2018	4/24/2018	5/1/2018	$	0.072	$	0.06	$	1,359

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Note 6 - Stock-based Compensation

12 Months Ended

Jan. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

. STOCK-BASED COMPENSATION

Stock Plans

June 14, 2016,

the stockholders approved the QAD Inc.

2016

Stock Incentive Program (

“2016

Program”). The

2016

Program allows for equity awards in the form of incentive stock options, non-statutory stock options, restricted shares, rights to purchase stock, stock appreciation rights (“SARs”) and other stock rights. The stockholders authorized a maximum of

4,000,000

shares to be issued under the

2016

Program. Prior to

July 1, 2016,

stock awards were issued under the QAD Inc.

2006

Stock Incentive Program. As of

January 31, 2019,

3,011,000

Class A Common Shares were available for issuance.

The Company issues restricted stock units (“RSUs”) to employees with the exception of the President of the Company. RSUs granted to employees under the

2016

Program and

2006

Program are generally released

25%

after each year of service for

four

years and are contingent upon employment with the Company on the release date. Stock compensation is typically issued out of treasury shares. At

January 31, 2019,

there were

480,000

RSUs of Class A Common Stock outstanding under the

2016

Program and

183,000

RSUs of Class A Common Stock outstanding under the

2006

Program.

2016

Program and

2006

Program, SARs have generally been granted for a term of

eight

years. They generally vest

25%

after each year of service for

four

years and are contingent upon employment with the Company on the vesting date. Economically, a stock-settled SAR provides the same compensation value as a stock option, but the employee is

not

required to pay an exercise price upon exercise of the SAR. Stock compensation expense, as required under ASC

718,

is the same for stock-settled SARs and stock options. At

January 31, 2019,

there were

427,000

SARs to purchase Class A Common Stock outstanding under the

2016

Program. At

January 31, 2019,

there were

1,828,000

and

278,000

SARs to purchase Class A Common Stock and Class B Common Stock outstanding under the

2006

Program, respectively.

$250,000

per year, as determined for the Company’s financial accounting purposes as of the date of grant.

Under the

2016

Program, officers, directors, employees, consultants and other independent contractors or agents of the Company or subsidiaries of the Company who are responsible for or contribute to the management, growth or profitability of its business are eligible for selection by the program administrators to participate. However, incentive stock options granted under the

2016

Program

may

only be granted to a person who is an employee of the Company or

one

of its subsidiaries.

Stock- Based Compensation

The following table sets forth reported stock compensation expense included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the fiscal years ended

January 31, 2019,

2018

and

2017:

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
Stock-based compensation expense:
Cost of subscription	$	252	$	161	$	113
Cost of maintenance and other revenue		497		384		299
Cost of professional services		1,219		1,085		848
Sales and marketing		2,111		1,510		1,200
Research and development		1,620		1,226		1,009
General and administrative		4,423		4,558		3,854
Total stock-based compensation expense	$	10,122	$	8,924	$	7,323

RSU Information

The following table summarizes the activity for RSUs for the fiscal years ended

January 31, 2019,

2018

and

2017:

	RSUs (in thousands)			Weighted Average Grant Date Fair Value
Restricted stock at January 31, 2016		617		$	20.91
Granted		307			18.54
Released (1)		(259	)		18.96
Forfeited		(42	)		20.69
Restricted stock at January 31, 2017		623		$	20.56
Granted		295			30.69
Released (1)		(245	)		20.48
Forfeited		(20	)		22.36
Restricted stock at January 31, 2018		653		$	25.10
Granted		300			51.70
Released (1)		(263	)		25.80
Forfeited		(27	)		30.63
Restricted stock at January 31, 2019		663		$	36.64

(

)

The number of RSUs released includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the fiscal years ended

January 31, 2019,

2018

and

2017,

the Company withheld

81,000

shares,

74,000

shares and

75,000

shares, respectively, for payment of these taxes. The value of the withheld shares for the fiscal years ended

January 31, 2019,

2018

and

2017

were

$4.3

million,

$2.4

million and

$1.5

million, respectively.

Total unrecognized compensation cost related to RSUs was approximately

$19.1

million as of

January 31, 2019.

This cost is expected to be recognized over a period of approximately

2.9

years.

SAR Information

The weighted average assumptions used to value SARs are shown in the following table.

	Years Ended January 31,
	2019			2018			2017
Expected life in years		5.50			5.50			5.25
Risk free interest rate		2.80	%		1.82	%		1.16	%
Volatility		31	%		33	%		36	%
Dividend rate		0.54	%		0.91	%		1.51	%

The following table summarizes the activity for outstanding SARs for the fiscal years ended

January 31, 2019,

2018

and

2017:

	Options/ SARs (in thousands)			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 31, 2016		2,596		$	14.74
Granted		380			18.64
Exercised		(158	)		10.94
Expired		(17	)		12.56
Forfeited		(8	)		12.09
Outstanding at January 31, 2017		2,793		$	15.51
Granted		380			31.65
Exercised		(139	)		10.52
Expired		(10	)		9.74
Outstanding at January 31, 2018		3,024		$	17.78
Granted		380			53.50
Exercised		(390	)		9.43
Expired		(5	)		9.17
Forfeited		(476	)		37.14
Outstanding at January 31, 2019		2,533		$	20.81		3.5	$	53,155
Vested and exercisable at January 31, 2019		2,058	(1)	$	17.04		2.9	$	48,873

(

)

The number of SARs vested and exercisable at

January 31, 2019

includes

877,500

Class A and

127,500

Class B shares previously held by Mr. Karl Lopker which will expire on

August 25, 2019

not

exercised by his estate. Exercise prices for these SARs range from

$10.50

$31.65.

January 31, 2019

and the exercise price for in-the-money SARs) that would have been received by the holders if all SARs had been exercised on

January 31, 2019.

The total intrinsic value of SARs exercised in the years ended

January 31, 2019,

2018

and

2017

was

$12.4

million,

$3.0

million and

$2.1

million, respectively. The weighted average grant date fair value per share of SARs granted in the years ended

January 31, 2019,

2018

and

2017

was

$16.99,

$9.59

and

$5.43,

respectively.

The number of SARs exercised includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the fiscal years ended

January 31, 2019,

2018

and

2017,

the Company withheld shares

104,000,

31,000

and

25,000

shares for payment of these taxes. The value of the withheld shares for the fiscal years ended

January 31, 2019,

2018

and

2017

were

$4.4

million,

$1.0

million and

$0.6

million, respectively.

January 31, 2019,

there was approximately

$4.3

million of total unrecognized compensation cost related to unvested SARs. This cost is expected to be recognized over a weighted average period of approximately

2.9

years.

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Note 7 - Other Balance Sheet Accounts

12 Months Ended

Jan. 31, 2019

Other Balance Sheet Accounts [Text Block]

OTHER BALANCE SHEET ACCOUNTS

	January 31,
	2019		2018
	(in thousands)
Other current assets
Deferred cost of revenues	$	8,007	$	8,330
Prepaid expenses		6,597		5,847
Capitalized commissions and sales agent fees		3,502		—
Accrued revenue		2,058		106
Capitalized cloud setup costs		521		—
Income tax receivable, net of payables		255		213
Other		1,210		1,360
	$	22,150	$	15,856
Other assets, net
Long-term capitalized commissions and sales agent fees	$	7,520	$	—
Long-term deposits and prepaid expenses		3,061		2,463
Other intangible assets, net		1,233		—
Long-term capitalized cloud setup costs		934		—
Fair value of interest rate swap		136		187
Other long-term assets		136		405
	$	13,020	$	3,055
Accounts payable
Trade payables	$	6,544	$	9,346
VAT payable		3,358		5,472
	$	9,902	$	14,818
Other current liabilities
Accrued commissions and bonus	$	15,464	$	18,039
Accrued compensated absences		9,130		9,177
Other accrued payroll		5,251		6,038
Accrued professional fees		2,729		1,884
Accrued travel		1,696		1,839
Accrued contract labor		1,975		2,655
Other current liabilities		4,103		3,828
	$	40,348	$	43,460
Other liabilities
Long-term deferred revenue	$	1,465	$	2,156
Accrued termination benefits		1,946		1,557
Lease restoration obligations		834		859
Long-term tax contingency reserve		282		688
Other		574		179
	$	5,101	$	5,439

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Note 8 - Debt

12 Months Ended

Jan. 31, 2019

Debt Disclosure [Text Block]

DEBT

	January 31,
	2019			2018
	(in thousands)
Note payable	$	13,358		$	13,825
Less current maturities		(487	)		(466	)
Less loan origination costs, net		(35	)		(46	)
Long-term debt	$	12,836		$	13,313

Note Payable

Effective

May 30, 2012,

QAD Ortega Hill, LLC entered into a variable rate credit agreement (the

“2012

Mortgage”) with Rabobank, N.A., to refinance a pre-existing mortgage. The

2012

Mortgage has an original principal balance of

$16.1

million and bears interest at the

one

month LIBOR rate plus

2.25%.

One month LIBOR was

2.51%

January 31, 2019.

The

2012

Mortgage matures in

June 2022

and is secured by the Company’s headquarters located in Santa Barbara, California. In conjunction with the

2012

Mortgage, QAD Ortega Hill, LLC entered into an interest rate swap with Rabobank, N.A. The swap agreement has an initial notional amount of

$16.1

million and a schedule matching that of the underlying loan that synthetically fixes the interest rate on the debt at

4.31%

for the entire term of the

2012

Mortgage. The terms of the

2012

Mortgage provide for QAD Ortega Hill, LLC to make net monthly payments of

$88,100

consisting of principal and interest and

one

final payment of

$11.7

million. The unpaid balance as of

January 31, 2019

was

$13.4

million.

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Note 9 - Accumulated Other Comprehensive Loss

12 Months Ended

Jan. 31, 2019

Accumulated Other Comprehensive Income (Loss) [Text Block]

ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss were as follows:

	Foreign Currency Translation Adjustments
	(in thousands)
Balance as of January 31, 2018	$	(6,828	)
Other comprehensive loss before reclassifications		(833	)
Amounts reclassified from accumulated other comprehensive loss		—
Net current period other comprehensive loss		(833	)
Balance as of January 31, 2019	$	(7,661	)

During fiscal

2019

there were

reclassifications from accumulated other comprehensive loss.

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Note 10 - Employee Benefit Plans	12 Months Ended
Note 10 - Employee Benefit Plans	Jan. 31, 2019
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	10. EMPLOYEE BENEFIT PLANS The Company has a defined contribution 401 (k) plan which is available to U.S. employees after 30 days of employment. Employees may contribute up to the maximum allowable by the Internal Revenue Code. The Company voluntarily matches 75% of the employees’ contributions up to the first four percent of the employee’s eligible compensation. In addition, the Company can make additional contributions at the discretion of the board of directors. Participants are immediately vested in their employee contributions. Vesting of employer contributions depends on an employee's years of service, starting with 20% at one year of service and increasing 20% for each subsequent year of service until fully vested after five years of service. The Company’s contributions for fiscal years 2019, 2018 and 2017 were $2.2 million, $2.2 million and $2.1 million, respectively. Various QAD foreign subsidiaries also contribute to defined contribution pension plans. Employer contributions in these plans are generally based on employee salary and range from 2% to 20%. These plans are funded at various times throughout the year according to plan provisions, with aggregate employer contributions of $5.3 million for fiscal 2019, $4.4 million for fiscal 2018 and $4.1 million for fiscal 2017.

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Note 11 - Commitments and Contingencies

12 Months Ended

Jan. 31, 2019

Commitments and Contingencies Disclosure [Text Block]

11.

COMMITMENTS AND CONTINGENCIES

Lease Obligations

2019,

2018

and

2017

was

$5.0

million,

$4.9

million and

$4.9

million, respectively. Certain of the Company’s lease arrangements are subject to customary renewal and base rental fee escalation clauses, rent holidays and lessor incentives. Future minimum rental payments under non-cancelable operating lease commitments with terms of more than

one

year as of

January 31, 2019

are as follows (in millions):

2020	$	5.6
2021		4.6
2022		2.8
2023		1.8
2024		1.5
Thereafter		2.8
	$	19.1

Purchase Obligations

January 31, 2019,

the Company had

$18.9

million of other non-cancelable contractual obligations, related to the purchase of goods and services

not

included in the table above.

Indemnifications

may

be awarded against the customer in the event the Company’s software is found to infringe upon certain intellectual property rights of a

third

party. The agreements generally limit the scope of and remedies for such indemnification obligations in a variety of industry-standard respects.

Legal Actions

not

believe that the outcome of any of these legal matters will have a material adverse effect on the Company’s consolidated results of operations, financial position or liquidity.

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Note 12 - Business Segment Information

12 Months Ended

Jan. 31, 2019

Segment Reporting Disclosure [Text Block]

12.

BUSINESS SEGMENT INFORMATION

four

geographic regions: North America; Europe, the Middle East and Africa (“EMEA”); Asia Pacific; and Latin America and through distributors where

third

parties can extend sales reach more effectively or efficiently. The North America region includes the United States and Canada. The EMEA region includes Europe, the Middle East and Africa. The Asia Pacific region includes Asia and Australia. The Latin America region includes South America, Central America and Mexico. In accordance with Topic

606,

the Company reports disaggregated revenue by geography and by industry as the Company believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company does

not

consider reporting by industry an operating segment in accordance with ASC

280,

Segment Reporting

, because discrete financial information by industry is

not

available. The Company’s Chief Operating Decision Maker, the Chief Executive Officer, reviews the consolidated results within

one

operating segment.

Property and equipment, net are assigned by geographic region based on the location of each legal entity.

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
Revenue:
North America (1)	$	162,307	$	141,614	$	129,436
EMEA		96,989		89,693		81,765
Asia Pacific		51,628		50,689		47,742
Latin America		22,092		23,022		19,030
	$	333,016	$	305,018	$	277,973

	January 31,
	2019		2018
	(in thousands)
Property and equipment, net:
North America	$	24,735	$	25,546
EMEA		3,090		3,444
Asia Pacific		1,408		1,141
Latin America		388		277
	$	29,621	$	30,408

(

)

Sales into Canada accounted for

of North America total revenue for each of the fiscal years

2019,

2018

and

2017.

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Note 13 - Quarterly Information (Unaudited)

12 Months Ended

Jan. 31, 2019

Quarterly Financial Information [Text Block]

13.

QUARTERLY INFORMATION (Unaudited)

	Quarters Ended
	April 30			July 31			Oct. 31			Jan. 31
	(in thousands, except per share data)
Fiscal 2019
Total revenue	$	86,190		$	84,543			79,577			82,706
Total costs and expenses		84,381			82,817			77,103			79,142
Gross margin		45,123			44,107			42,216			45,686
Operating income		1,809			1,726			2,474			3,564
Net income		1,397			1,113			2,982			4,936
Basic net income per share
Class A	$	0.07		$	0.06			0.16			0.26
Class B		0.06			0.05			0.13			0.22
Diluted net income per share
Class A	$	0.07		$	0.05			0.14			0.24
Class B		0.06			0.05			0.12			0.21
Fiscal 2018
Total revenue	$	71,382		$	75,958		$	76,925		$	80,753
Total costs and expenses		72,741			75,415			76,495			83,441
Gross margin		36,516			39,264			38,879			40,934
Operating (loss) income		(1,359	)		543			430			(2,688	)
Net loss		(2,571	)		(1,161	)		(161	)		(5,172	)
Basic net loss per share
Class A	$	(0.14	)	$	(0.06	)	$	(0.01	)	$	(0.28	)
Class B		(0.12	)		(0.05	)		(0.01	)		(0.23	)
Diluted net loss per share
Class A	$	(0.14	)	$	(0.06	)	$	(0.01	)	$	(0.28	)
Class B		(0.12	)		(0.05	)		(0.01	)		(0.23	)

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Schedule II - Schedule of Valuation and Qualifying Accounts

12 Months Ended

Jan. 31, 2019

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

SCHEDULE II
SCHEDULE OF VALUATION AND QUALIFYING ACCOUNTS
(in thousands)

	Balance at Beginning of Period		Charged to Statements of Income		Write-Offs, Net of Recoveries			Impact of Foreign Currency Translation			Balance at End of Period
Year ended January 31, 2017
Allowance for bad debt	$	1,242	$	40	$	(184	)	$	(8	)	$	1,090
Allowance for sales adjustments		1,400		197		(472	)		(10	)		1,115
Total allowance for doubtful accounts	$	2,642	$	237	$	(656	)	$	(18	)	$	2,205
Year ended January 31, 2018
Allowance for bad debt	$	1,090	$	98	$	(834	)	$	42		$	396
Allowance for sales adjustments		1,115		923		(733	)		62			1,367
Total allowance for doubtful accounts	$	2,205	$	1,021	$	(1,567	)	$	104		$	1,763
Year ended January 31, 2019
Allowance for bad debt	$	396	$	144	$	(31	)	$	(22	)	$	487
Allowance for sales adjustments		1,367		1,608		(518	)		(43	)		2,414
Total allowance for doubtful accounts	$	1,763	$	1,752	$	(549	)	$	(65	)	$	2,901

See accompanying report of independent registered public accounting firm.

XML 37 R22.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

12 Months Ended

Jan. 31, 2019

Accounting Policies [Abstract]

Business Description [Policy Text Block]

BUSINESS

1979,

incorporated in California in

1986

and reincorporated in Delaware in

1997.

Consolidation, Policy [Policy Text Block]

PRINCIPLES OF CONSOLIDATION

Use of Estimates, Policy [Policy Text Block]

USE OF ESTIMATES

Foreign Currency Transactions and Translations Policy [Policy Text Block]

FOREIGN CURRENCY TRANSLATIONS AND TRANSACTIONS

Gains and losses resulting from foreign currency transactions and remeasurement adjustments of monetary assets and liabilities

not

held in an entity’s functional currency are included in earnings. Foreign currency transaction and remeasurement (gains) losses for fiscal

2019,

2018

and

2017

totaled $(

0.2

) million,

$2.5

million and

$0.2

million, respectively, and are included in “Other (income) expense, net” in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss).

Cash and Cash Equivalents, Policy [Policy Text Block]

CASH AND EQUIVALENTS

Cash and equivalents consist of cash and short-term marketable securities with maturities of less than

days at the date of purchase. The Company considers all highly liquid investments purchased with an original maturity of

days or less to be cash equivalents. At

January 31, 2019

and

2018,

the Company’s cash and equivalents consisted of money market mutual funds invested in U.S. Treasury and government securities, deposit accounts and certificates of deposit.

Investment, Policy [Policy Text Block]

SHORT-TERM INVESTMENTS

January 31, 2019,

the Company’s short-term investments consisted of certificates of deposit with maturities greater than

days and less than

one

Receivables, Policy [Policy Text Block]

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net, consisted of the following as of

January 31:

	2019			2018
	(in thousands)
Accounts receivable	$	84,478		$	85,281
Less allowance for:
Doubtful accounts		(487	)		(396	)
Sales adjustments		(2,414	)		(1,367	)
Accounts receivable, net	$	81,577		$	83,518

Trade accounts receivable are recorded at the invoiced amount and do

not

bear interest. The collectability of accounts receivable is reviewed each period by analyzing balances based on age. Specific allowances are recorded for any balances that the Company determines

may

not

The Company does

not

generally provide a contractual right of return; however, in the course of business sales adjustments related to customer dispute resolution

may

Financial Instruments and Concentration of Credit Risk [Policy Text Block]

FINANCIAL INSTRUMENTS AND CONCENTRATION OF CREDIT RISK

January 31, 2019

one

customer accounted for

10%

of total revenue and

other customer accounted for

10%

or more of total revenue.

single customer accounted for

10%

or more of the Company’s total revenue during the fiscal years ended

January 31, 2018

and

2017.

In addition,

single customer accounted for

10%

or more of accounts receivable at

January 31, 2019

2018.

Property, Plant and Equipment, Policy [Policy Text Block]

PROPERTY AND EQUIPMENT

three

years for computer equipment and software,

five

years for furniture and office equipment,

years for building improvements, and

years for buildings. Leasehold improvements are depreciated over the shorter of the lease term or the useful life of

five

years.

Property and equipment, net consisted of the following as of

January 31:

	2019			2018
	(in thousands)
Buildings and building improvements	$	32,238		$	32,444
Computer equipment and software		17,671			17,312
Furniture and office equipment		7,672			7,632
Leasehold improvements		7,309			6,677
Land		3,850			3,850
Automobiles		54			54
		68,794			67,969
Less accumulated depreciation and amortization		(39,173	)		(37,561	)
	$	29,621		$	30,408

The changes in property and equipment, net, for the fiscal years ended

January 31

were as follows:

	2019			2018
	(in thousands)
Cost
Balance at February 1	$	67,969		$	64,642
Additions		4,340			3,720
Disposals		(2,512	)		(1,874	)
Impact of foreign currency translation		(1,003	)		1,481
Balance at January 31		68,794			67,969

Accumulated depreciation
Balance at February 1		(37,561	)		(33,770	)
Depreciation		(4,734	)		(4,562	)
Disposals		2,474			1,719
Impact of foreign currency translation		648			(948	)
Balance at January 31		(39,173	)		(37,561	)
Property and equipment, net at January 31	$	29,621		$	30,408

Depreciation and amortization expense of property and equipment for fiscal

2019,

2018

and

2017

was

$4.7

million,

$4.6

million and

$4.3

million, respectively. There was

impairment of property and equipment assets during fiscal

2019,

2018

and

2017.

Capitalization of Software Costs, Policy [Policy Text Block]

CAPITALIZED SOFTWARE COSTS

third

parties or through business combinations as acquired software technology, if the related software under development has reached technological feasibility.

The amortization of capitalized software costs is the greater of the straight-line basis over

three

Capitalized software costs and accumulated amortization at

January 31

were as follows:

	2019			2018
	(in thousands)
Capitalized software costs:
Capitalized software development costs	$	2,314		$	1,516
Acquired software technology		135			—
		2,449			1,516
Less accumulated amortization		(851	)		(526	)
Capitalized software costs, net	$	1,598		$	990

second

quarter of fiscal

2019.

It is the Company’s policy to write off capitalized software development costs once fully amortized. Accordingly, during fiscal

2019,

$0.3

million of costs and accumulated amortization was removed from the Consolidated Balance Sheet and was primarily related to acquired software technology which was fully amortized during fiscal

2019.

Amortization of capitalized software costs for fiscal

2019,

2018

and

2017

was

$0.6

million,

$0.8

million and

$1.0

million, respectively. Amortization of capitalized software costs is included in “Cost of license fees” in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss).

The following table summarizes the estimated amortization expense relating to the Company’s capitalized software costs as of

January 31, 2019:

Fiscal Years	(in thousands)
2020	$	759
2021		572
2022		226
2023		27
Thereafter		14
	$	1,598

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

GOODWILL AND INTANGIBLE ASSETS

Goodwill represents the excess of the purchase price over the fair value of net assets of purchased businesses. Goodwill is

not

amortized, but instead is subject to impairment tests on at least an annual basis and whenever circumstances suggest that goodwill

may

be impaired. The Company tests goodwill for impairment in the

fourth

quarter of each fiscal year. The Company performs a

two

-step impairment test. Under the

first

not

considered impaired and the

second

step is

not

performed. If the results of the

first

step of the impairment test indicate that the fair value of a reporting unit does

not

exceed its carrying amount, then the

second

step of the goodwill impairment test is required. The

second

not

meaningful. Therefore, the Company’s impairment test considers the consolidated entity as a single reporting unit.

Judgments about the recoverability of purchased finite lived intangible assets are made whenever events or changes in circumstances indicate that an impairment

may

The changes in the carrying amount of goodwill for the fiscal years ended

January 31, 2018

and

2019

were as follows:

	Gross Carrying Amount			Accumulated Impairment			Goodwill, Net
	(in thousands)
Balance at January 31, 2017	$	26,166		$	(15,608	)	$	10,558
Impact of foreign currency translation		465			—			465
Balance at January 31, 2018		26,631			(15,608	)		11,023
Additions		1,510			—			1,510
Impact of foreign currency translation		(110	)		—			(110	)
Balance at January 31, 2019	$	28,031		$	(15,608	)	$	12,423

not

been presented, as the effects were

not

material to the Company’s historical consolidated financial statements.

During each of the

fourth

quarters of fiscal

2019,

2018

and

2017,

an impairment analysis was performed at the enterprise level which compared the Company’s market capitalization to its net assets as of the test date,

November 30.

As the market capitalization substantially exceeded the Company’s net assets, there was

indication of goodwill impairment for fiscal

2019,

2018

and

2017.

Intangible Assets

	January 31, 201 9
	(in thousands)
Amortizable intangible assets
Customer relationships	$	1,348
Less: accumulated amortization		(115	)
Net amortizable intangible assets	$	1,233

The Company’s intangible assets as of

January 31, 2019

are related to the acquisitions completed in the

second

and

third

quarters of fiscal

2019.

Intangible assets are included in “Other assets, net” in the accompanying Consolidated Balance Sheets, and are amortized over an estimated

year useful life.

The following table summarizes the estimated amortization expense relating to the Company’s intangible assets as of

January 31, 2019:

Fiscal Years	(in thousands)
2020	$	270
2021		270
2022		270
2023		270
Thereafter		153
	$	1,233

Income Tax, Policy [Policy Text Block]

INCOME TAXES

Income tax expense includes U.S. (federal and state) and foreign income taxes. Tax legislation commonly known as the Tax Cuts and Jobs Act of

2017

(the “Tax Act”) includes a mandatory

one

-time tax on accumulated earnings of foreign subsidiaries, and as a result, all previously unremitted earnings for which

one

year from the enactment date. Complexities inherent in adopting the changes included additional guidance, interpretations of the law, and further analysis of data and tax positions. During fiscal

2019,

as part of completing its accounting, the Company recognized approximately

$1.3

not

expect to incur any significant, additional taxes related to such amounts.

not

The Company utilizes a

two

-step approach to recognizing and measuring uncertain income tax positions (tax contingencies). The

first

step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than

not

that the position will be sustained on audit, including resolution of related appeals or litigation processes. The

second

step is to measure the tax benefit as the largest amount which is more than

50%

likely of being realized upon ultimate settlement. The Company considers many factors when evaluating its tax positions and estimating its tax benefits, which

may

require periodic adjustments and which

may

not

accurately forecast actual outcomes. The Company includes interest and penalties related to its tax contingencies in income tax expense.

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

STOCK-BASED COMPENSATION

The Company accounts for share-based payments (“equity awards”) to employees in accordance with ASC

718,

Compensation—Stock Compensation

(“ASC

718”

Fair Value of RSUs

three

years.

Fair Value of SARs

The fair value of stock-settled stock appreciation rights (“SARs”) is determined on the grant date of the award using the Black-Scholes-Merton valuation model. One of the inputs to the Black-Scholes-Merton valuation model is the fair market value of the Company’s stock on the date of grant. Judgment is required in determining the remaining inputs to the Black-Scholes-Merton valuation model. These inputs include the expected life, volatility, the risk-free interest rate and the dividend rate. The following describes the Company’s policies with respect to determining these valuation inputs:

Expected Life -

two

Volatility -

Risk-Free Interest Rate -

The risk-free interest rate is based on the U.S. Treasury constant maturities in effect at the time of grant for the expected term of the SARs.

Dividend Rate -

The dividend rate is based on the Company’s historical dividend payments per share.

may

Comprehensive Income, Policy [Policy Text Block]

COMPREHENSIVE INCOME

(LOSS)

not

provide for income taxes on foreign currency translation adjustments since it does

not

Advertising Costs, Policy [Policy Text Block]

ADVERTISING EXPENSES

Advertising costs are expensed as incurred. Advertising expenses were

$0.7

million,

$0.7

million and

$1.1

million for fiscal years

2019,

2018

and

2017.

Research, Development, and Computer Software, Policy [Policy Text Block]

RESEARCH AND DEVELOPMENT

All costs incurred to establish the technological feasibility of the Company’s software products are expensed to research and development (“R&D”) as incurred. R&D expenses totaled

$54.0

million,

$47.7

million and

$43.6

million in fiscal years

2019,

2018

and

2017,

respectively.

Non-operating Expense, Net [Policy Text Block]

OTHER (INCOME) EXPENSE, NET

The components of other (income) expense, net for fiscal

2019,

2018

and

2017

were as follows:

	Years Ended January 31,
	2019			2018			2017
	(in thousands)
Interest income	$	(2,600	)	$	(1,547	)	$	(696	)
Interest expense		643			669			670
Foreign exchange (gains) losses		(229	)		2,466			180
Change in fair value of interest rate swap		51			(377	)		(485	)
Other income, net		(209	)		(77	)		(131	)
Total other (income) expense, net	$	(2,344	)	$	1,134		$	(462	)

Earnings Per Share, Policy [Policy Text Block]

COMPUTATION OF NET INCOME

(LOSS)

PER SHARE

Net income (loss) per share of Class A common stock and Class B common stock is computed using the

two

-class method. Holders of Class A common stock are entitled to cash or stock dividends equal to

120%

of the amount of such dividend payable with respect to a share of Class B common stock.

The following table sets forth the computation of basic and diluted net income (loss) per share:

	Years Ended January 31,
	2019			2018			2017
	(in thousands, except per share data)
Net income (loss)	$	10,428		$	(9,065	)	$	(15,450	)
Less: dividends declared		(5,479	)		(5,367	)		(5,301	)
Undistributed net income (loss)	$	4,949		$	(14,432	)	$	(20,751	)

Net income (loss) per share – Class A Common Stock
Dividends declared	$	4,696		$	4,596		$	4,531
Allocation of undistributed net income (loss)		4,243			(12,358	)		(17,742	)

Net income (loss) attributable to Class A common stock	$	8,939		$	(7,762	)	$	(13,211	)

Weighted average shares of Class A common stock outstanding— basic		16,267			15,942			15,715
Weighted average potential shares of Class A common stock		1,585			—			—
Weighted average shares of Class A common stock and potential common shares outstanding— diluted		17,852			15,942			15,715

Basic net income (loss) per Class A common share	$	0.55		$	(0.49	)	$	(0.84	)
Diluted net income (loss) per Class A common share	$	0.50		$	(0.49	)	$	(0.84	)

Net income (loss) per share – Class B Common Stock
Dividends declared	$	783		$	771		$	770
Allocation of undistributed net income (loss)		706			(2,074	)		(3,009	)
Net income (loss) attributable to Class B common stock	$	1,489		$	(1,303	)	$	(2,239	)

Weighted average shares of Class B common stock outstanding— basic		3,256			3,213			3,206
Weighted average potential shares of Class B common stock		166			—			—
Weighted average shares of Class B common stock and potential common shares outstanding— diluted		3,422			3,213			3,206

Basic net income (loss) per Class B common share	$	0.46		$	(0.41	)	$	(0.70	)
Diluted net income (loss) per Class B common share	$	0.44		$	(0.41	)	$	(0.70	)

not

considered participating securities as they do

not

have rights to dividends or dividend equivalents prior to release or exercise.

The following table sets forth the number of potential common shares

not

included in the calculation of diluted earnings per share because their effects were anti-dilutive:

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
Class A		325		3,236		2,985
Class B		—		380		378

New Accounting Pronouncements, Policy [Policy Text Block]

RECENT ACCOUNTING PRONOUNCEMENTS

With the exception of those discussed below, there have been

recent changes in accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”) or adopted by the Company during the fiscal year ended

January 31, 2019,

that are of significance, or potential significance, to the Company.

Recent Accounting Pronouncements Adopted

October 2016,

the FASB issued ASU

2016

16,

Intra-Entity Transfers of Assets Other Than Inventory

December 15, 2017

with early adoption permitted as of the beginning of the annual reporting period in which the ASU was issued. ASU

2016

was adopted by the Company effective

February 1, 2018

on a modified retrospective basis, resulting in a

$9.6

million decrease to accumulated deficit and a corresponding increase to deferred tax assets.

August 2016,

the FASB issued ASU

2016

15,

Statement of Cash Flows (Topic

230

) Classification of Certain Cash Receipts and Cash Payments

, that modifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance is effective for fiscal years beginning after

December 15, 2017

and interim periods within those fiscal years, with earlier adoption permitted. ASU

2016

was adopted by the Company effective

February 1, 2018

on a retrospective basis, with

material changes reflected in the Consolidated Statement of Cash Flows.

May 2014,

the FASB issued ASU

2014

09,

Revenue from Contracts with Customers

(Topic

606

), which supersedes the revenue recognition requirements in

Revenue Recognition

(Topic

605

) and Subtopic

985

605

Software - Revenue Recognition

. Topic

605

and Subtopic

985

605

are collectively referred to as “Topic

605”

or “prior GAAP.” Under Topic

606,

606

requires enhanced disclosures, including disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers.

The Company adopted Topic

606

on the

first

day of fiscal

2019

using the modified retrospective transition method. Under this method, QAD evaluated contracts that were in effect at the beginning of fiscal

2019

as if those contracts had been accounted for under Topic

606.

The Company did

not

adjusted and continue to be reported in accordance with historical, pre-Topic

606

accounting. A cumulative catch-up adjustment was recorded to beginning accumulated deficit to reflect the impact of all existing arrangements under Topic

606.

The most significant impacts of the adoption of Topic

606

were as follows:

●

not

have VSOE. At adoption, QAD decreased accumulated deficit and deferred revenue by

$2.0

million as this revenue would otherwise have been recognized in future periods according to prior GAAP;

●

Removal of the limitation on contingent revenue resulted in revenue being recognized earlier for certain contracts. At adoption, QAD decreased accumulated deficit and increased contract assets by

$0.8

million as this revenue would otherwise have been recognized in future periods as invoiced according to prior GAAP;

●

Contracts containing a future option to the customer represented a material right which resulted in deferral of revenue. At adoption, QAD increased accumulated deficit and deferred revenue by

$0.3

million as this revenue would have been otherwise earned in previous periods according to prior GAAP;

●

Commission expenses related to new cloud and maintenance contracts are

five

years. As a result, QAD decreased accumulated deficit and increased other current and non-current assets by

$9.1

million at the adoption date;

●

Sales agent fees to obtain new cloud and maintenance contracts are

longer be expensed as incurred; rather these costs will be capitalized and amortized over the associated term of economic benefit which the Company has determined to be

five

years. As a result, QAD decreased accumulated deficit and increased other current and non-current assets by

$1.0

million at the adoption date; and

●

Cloud environment setup costs incurred to fulfill new cloud customer contracts are

longer expensed as incurred; rather these costs are capitalized and amortized over the associated term of economic benefit which the Company has determined to be

five

years. As a result, QAD decreased accumulated deficit and increased other current and non-current assets by

$1.5

million at the adoption date.

The tax impact of the above adjustments was assessed and, at adoption, QAD increased accumulated deficit and decreased net deferred tax assets by

$1.6

million.

Adjustments to beginning consolidated balance sheet accounts

first

day of fiscal

2019:

	Jan. 31, 2018			Topic 606			ASU2016-16 (1)		Feb. 1, 2018
	(in thousands)
Assets
Current assets:
Cash and equivalents	$	147,023		$	-		$	-	$	147,023
Accounts receivable, net		83,518			-			-		83,518
Other current assets, net		15,856			4,013			-		19,869
Total current assets		246,397			4,013			-		250,410
Property and equipment, net		30,408			-			-		30,408
Capitalized software costs, net		990			-			-		990
Goodwill		11,023			-			-		11,023
Deferred tax assets, net		7,944			(1,643	)		9,584		15,885
Other assets, net		3,055			8,421			-		11,476
Total assets	$	299,817		$	10,791		$	9,584	$	320,192

Liabilities and stockholders’ equity
Current portion of long-term debt	$	466		$	-		$	-	$	466
Accounts payable		14,818			-			-		14,818
Deferred revenue		116,693			(1,239	)		-		115,454
Other current liabilities		43,460			-			-		43,460
Total current liabilities		175,437			(1,239	)		-		174,198
Long-term debt		13,313			-			-		13,313
Other liabilities		5,439			(511	)		-		4,928
Stockholders’ equity
Common stock - Class A		16			-			-		16
Common stock - Class B		4			-			-		4
Additional paid-in capital		200,456			-			-		200,456
Treasury stock		(12,461	)		-			-		(12,461	)
Accumulated deficit		(75,559	)		12,541			9,584		(53,434	)
Accumulated other comprehensive loss		(6,828	)		-			-		(6,828	)
Total stockholders’ equity		105,628			12,541			9,584		127,753
Total liabilities and stockholders’ equity	$	299,817		$	10,791		$	9,584	$	320,192

(

)

For further information about the adoption of

ASU2016

Intra-entity Transfers of Assets Other Than Inventory

see Note

“Income Taxes.”

The following table summarizes the effects of adopting Topic

606

on the Company’s Consolidated Balance Sheet as of

January 31, 2019:

	As reported under Topic 606			Adjustments			Balances under Prior GAAP
	(in thousands)
Assets
Current assets:
Cash and equivalents	$	139,413		$	-		$	139,413
Short-term investments		1,200			-			1,200
Accounts receivable, net		81,577			-			81,577
Other current assets, net		22,150			(3,738	)		18,412
Total current assets		244,340			(3,738	)		240,602
Property and equipment, net		29,621			-			29,621
Capitalized software costs, net		1,598			-			1,598
Goodwill		12,423			-			12,423
Deferred tax assets, net		16,172			206			16,378
Other assets, net		13,020			(7,989	)		5,031
Total assets	$	317,174		$	(11,521	)	$	305,653

Liabilities and stockholders’ equity
Current portion of long-term debt	$	487		$	-		$	487
Accounts payable		9,902			-			9,902
Deferred revenue		115,253			5,811			121,064
Other current liabilities		40,348			-			40,348
Total current liabilities		165,990			5,811			171,801
Long-term debt		12,836			-			12,836
Other liabilities		5,101			422			5,523
Stockholders’ equity
Common stock - Class A		16			-			16
Common stock - Class B		4			-			4
Additional paid-in capital		196,723			-			196,723
Treasury stock		(7,350	)		-			(7,350	)
Accumulated deficit		(48,485	)		(17,757	)		(66,242	)
Accumulated other comprehensive loss		(7,661	)		3			(7,658	)
Total stockholders’ equity		133,247			(17,754	)		115,493
Total liabilities and stockholders’ equity	$	317,174		$	(11,521	)	$	305,653

The following table summarizes the effects of adopting Topic

606

on the Company’s Consolidated Statement of Income for the

twelve

months ended

January 31, 2019:

	As reported under Topic 606			Adjustments			Balances under Prior GAAP
	(in thousands, except per share amounts)
Revenue
Subscription fees	$	91,861		$	(1,628	)	$	90,233
License fees		25,568			(2,538	)		23,030
Maintenance and other		122,936			298			123,234
Professional services		92,651			(1,969	)		90,682
Total revenue		333,016			(5,837	)		327,179
Cost of revenue:
Subscription fees		34,128			(88	)		34,040
License fees		2,714			-			2,714
Maintenance and other		31,307			-			31,307
Professional services		87,735			-			87,735
Total cost of revenue		155,884			(88	)		155,796
Gross profit		177,132			(5,749	)		171,383
Operating expenses:
Sales and marketing		78,207			96			78,303
Research and development		53,993			(236	)		53,757
General and administrative		35,248			-			35,248
Amortization of intangible assets from acquisitions		111			-			111
Total operating expenses		167,559			(140	)		167,419
Operating income		9,573			(5,609	)		3,964
Other (income) expense
Interest income		(2,600	)		-			(2,600	)
Interest expense		643			-			643
Other income		(387	)		-			(387	)
Total other income, net		(2,344	)		-			(2,344	)
Income before income taxes		11,917			(5,609	)		6,308
Income tax expense		1,489			(393	)		1,096
Net income	$	10,428		$	(5,216	)	$	5,212
Basic income per share
Class A	$	0.55		$	(0.28	)	$	0.27
Class B	$	0.46		$	(0.23	)	$	0.23
Diluted income per share
Class A	$	0.50		$	(0.25	)	$	0.25
Class B	$	0.44		$	(0.22	)	$	0.22

The following table summarizes the effects of adopting Topic

606

on the financial statement line items of the Company’s Consolidated Statement of Cash Flows for the

twelve

months ended

January 31, 2019:

	As reported under Topic 606			Adjustments			Balances under Prior GAAP
	(in thousands)
Net income	$	10,428		$	(5,216	)	$	5,212
Amortization of costs capitalized to obtain and fulfill contracts		4,176			(3,348	)		828
Net change in valuation allowance		3,224			648			3,872
Changes in operating assets and liabilities:
Costs capitalized to obtain and fulfill contracts		(4,130	)		3,354			(776	)
Other assets		(2,890	)		76			(2,814	)
Deferred revenue		3,031			4,483			7,514
Net cash provided by operating activities		19,007			(3	)		19,004
Effect of exchange rates on cash and equivalents		(2,668	)		3			(2,665	)

Recent Accounting

Pronouncements

Not

Yet

Adopted

February 2016,

the FASB established Topic

842,

Leases, by issuing Accounting Standards Update (“ASU”)

No.

2016

02,

which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic

842

was subsequently amended by ASU

No.

2018

01,

Land Easement Practical Expedient for Transition to Topic

842;

ASU

No.

2018

10,

Codification Improvements to Topic

842,

Leases; and ASU

No.

2018

11,

February 1, 2019.

QAD will adopt the new standard on its effective date.

A modified retrospective transition approach is required, applying the new standard to all leases existing at the date of initial application. An entity

may

choose to use either (

) its effective date or (

) the beginning of the earliest comparative period presented in the financial statements as its date of initial application. If an entity chooses the

second

not

be updated and the disclosures required under the new standard will

not

be provided for dates and periods before

January 31, 2019.

The new standard provides a number of optional practical expedients in transition. QAD plans to elect the ‘package of practical expedients’, which permits the Company

not

to reassess under the new standard prior conclusions about lease identification, lease classification and initial direct costs. QAD also plans to elect the use-of-hindsight practical expedient.

not

expect ASC

2016

will have a material impact to the Company’s consolidated statement of operations or net cash provided by operating activities. In addition, the Company does

not

expect a significant change in its leasing activities between now and adoption.

On adoption, the Company currently expects to recognize additional operating liabilities and corresponding ROU assets in the range of

$11.0

million to

$16.0

million based on the present value of the remaining minimum rental payments under current leasing standards for existing leases.

not

recognize ROU assets or lease liabilities, and this includes

not

recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. The Company also currently expects to elect the practical expedient to

not

separate lease and non-lease components for all of its leases.

January 2017,

the FASB issued ASU

2017

04,

Intangibles—Goodwill and Other (Topic

350

): Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill to eliminate Step

from the goodwill impairment test. In addition, it eliminates the requirements for any reporting unit with a

zero

or negative carrying amount to perform a qualitative assessment and, if that fails that qualitative test, to perform Step

of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. The amendments will be effective for the Company’s fiscal year beginning

February 1, 2020.

Early adoption is permitted. The new guidance is required to be applied on a prospective basis. The Company does

not

believe adoption of ASU

2017

will have a material impact on its consolidated financial statements.

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Note 1 - Summary of Business and Significant Accounting Policies (Tables)

12 Months Ended

Jan. 31, 2019

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	2019			2018
	(in thousands)
Accounts receivable	$	84,478		$	85,281
Less allowance for:
Doubtful accounts		(487	)		(396	)
Sales adjustments		(2,414	)		(1,367	)
Accounts receivable, net	$	81,577		$	83,518

Property, Plant and Equipment [Table Text Block]

	2019			2018
	(in thousands)
Buildings and building improvements	$	32,238		$	32,444
Computer equipment and software		17,671			17,312
Furniture and office equipment		7,672			7,632
Leasehold improvements		7,309			6,677
Land		3,850			3,850
Automobiles		54			54
		68,794			67,969
Less accumulated depreciation and amortization		(39,173	)		(37,561	)
	$	29,621		$	30,408

Changes in Property and Equipment [Table Text Block]

	2019			2018
	(in thousands)
Cost
Balance at February 1	$	67,969		$	64,642
Additions		4,340			3,720
Disposals		(2,512	)		(1,874	)
Impact of foreign currency translation		(1,003	)		1,481
Balance at January 31		68,794			67,969

Accumulated depreciation
Balance at February 1		(37,561	)		(33,770	)
Depreciation		(4,734	)		(4,562	)
Disposals		2,474			1,719
Impact of foreign currency translation		648			(948	)
Balance at January 31		(39,173	)		(37,561	)
Property and equipment, net at January 31	$	29,621		$	30,408

Schedule of Capitalized Software Costs [Table Text Block]

	2019			2018
	(in thousands)
Capitalized software costs:
Capitalized software development costs	$	2,314		$	1,516
Acquired software technology		135			—
		2,449			1,516
Less accumulated amortization		(851	)		(526	)
Capitalized software costs, net	$	1,598		$	990

Schedule of Capitalized Software Costs Amortization Expense [Table Text Block]

Fiscal Years	(in thousands)
2020	$	759
2021		572
2022		226
2023		27
Thereafter		14
	$	1,598

Schedule of Goodwill [Table Text Block]

	Gross Carrying Amount			Accumulated Impairment			Goodwill, Net
	(in thousands)
Balance at January 31, 2017	$	26,166		$	(15,608	)	$	10,558
Impact of foreign currency translation		465			—			465
Balance at January 31, 2018		26,631			(15,608	)		11,023
Additions		1,510			—			1,510
Impact of foreign currency translation		(110	)		—			(110	)
Balance at January 31, 2019	$	28,031		$	(15,608	)	$	12,423

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	January 31, 201 9
	(in thousands)
Amortizable intangible assets
Customer relationships	$	1,348
Less: accumulated amortization		(115	)
Net amortizable intangible assets	$	1,233

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Fiscal Years	(in thousands)
2020	$	270
2021		270
2022		270
2023		270
Thereafter		153
	$	1,233

Schedule of Other Nonoperating Expense, by Component [Table Text Block]

	Years Ended January 31,
	2019			2018			2017
	(in thousands)
Interest income	$	(2,600	)	$	(1,547	)	$	(696	)
Interest expense		643			669			670
Foreign exchange (gains) losses		(229	)		2,466			180
Change in fair value of interest rate swap		51			(377	)		(485	)
Other income, net		(209	)		(77	)		(131	)
Total other (income) expense, net	$	(2,344	)	$	1,134		$	(462	)

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Years Ended January 31,
	2019			2018			2017
	(in thousands, except per share data)
Net income (loss)	$	10,428		$	(9,065	)	$	(15,450	)
Less: dividends declared		(5,479	)		(5,367	)		(5,301	)
Undistributed net income (loss)	$	4,949		$	(14,432	)	$	(20,751	)

Net income (loss) per share – Class A Common Stock
Dividends declared	$	4,696		$	4,596		$	4,531
Allocation of undistributed net income (loss)		4,243			(12,358	)		(17,742	)

Net income (loss) attributable to Class A common stock	$	8,939		$	(7,762	)	$	(13,211	)

Weighted average shares of Class A common stock outstanding— basic		16,267			15,942			15,715
Weighted average potential shares of Class A common stock		1,585			—			—
Weighted average shares of Class A common stock and potential common shares outstanding— diluted		17,852			15,942			15,715

Basic net income (loss) per Class A common share	$	0.55		$	(0.49	)	$	(0.84	)
Diluted net income (loss) per Class A common share	$	0.50		$	(0.49	)	$	(0.84	)

Net income (loss) per share – Class B Common Stock
Dividends declared	$	783		$	771		$	770
Allocation of undistributed net income (loss)		706			(2,074	)		(3,009	)
Net income (loss) attributable to Class B common stock	$	1,489		$	(1,303	)	$	(2,239	)

Weighted average shares of Class B common stock outstanding— basic		3,256			3,213			3,206
Weighted average potential shares of Class B common stock		166			—			—
Weighted average shares of Class B common stock and potential common shares outstanding— diluted		3,422			3,213			3,206

Basic net income (loss) per Class B common share	$	0.46		$	(0.41	)	$	(0.70	)
Diluted net income (loss) per Class B common share	$	0.44		$	(0.41	)	$	(0.70	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
Class A		325		3,236		2,985
Class B		—		380		378

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

	Jan. 31, 2018			Topic 606			ASU2016-16 (1)		Feb. 1, 2018
	(in thousands)
Assets
Current assets:
Cash and equivalents	$	147,023		$	-		$	-	$	147,023
Accounts receivable, net		83,518			-			-		83,518
Other current assets, net		15,856			4,013			-		19,869
Total current assets		246,397			4,013			-		250,410
Property and equipment, net		30,408			-			-		30,408
Capitalized software costs, net		990			-			-		990
Goodwill		11,023			-			-		11,023
Deferred tax assets, net		7,944			(1,643	)		9,584		15,885
Other assets, net		3,055			8,421			-		11,476
Total assets	$	299,817		$	10,791		$	9,584	$	320,192

Liabilities and stockholders’ equity
Current portion of long-term debt	$	466		$	-		$	-	$	466
Accounts payable		14,818			-			-		14,818
Deferred revenue		116,693			(1,239	)		-		115,454
Other current liabilities		43,460			-			-		43,460
Total current liabilities		175,437			(1,239	)		-		174,198
Long-term debt		13,313			-			-		13,313
Other liabilities		5,439			(511	)		-		4,928
Stockholders’ equity
Common stock - Class A		16			-			-		16
Common stock - Class B		4			-			-		4
Additional paid-in capital		200,456			-			-		200,456
Treasury stock		(12,461	)		-			-		(12,461	)
Accumulated deficit		(75,559	)		12,541			9,584		(53,434	)
Accumulated other comprehensive loss		(6,828	)		-			-		(6,828	)
Total stockholders’ equity		105,628			12,541			9,584		127,753
Total liabilities and stockholders’ equity	$	299,817		$	10,791		$	9,584	$	320,192

	As reported under Topic 606			Adjustments			Balances under Prior GAAP
	(in thousands)
Assets
Current assets:
Cash and equivalents	$	139,413		$	-		$	139,413
Short-term investments		1,200			-			1,200
Accounts receivable, net		81,577			-			81,577
Other current assets, net		22,150			(3,738	)		18,412
Total current assets		244,340			(3,738	)		240,602
Property and equipment, net		29,621			-			29,621
Capitalized software costs, net		1,598			-			1,598
Goodwill		12,423			-			12,423
Deferred tax assets, net		16,172			206			16,378
Other assets, net		13,020			(7,989	)		5,031
Total assets	$	317,174		$	(11,521	)	$	305,653

Liabilities and stockholders’ equity
Current portion of long-term debt	$	487		$	-		$	487
Accounts payable		9,902			-			9,902
Deferred revenue		115,253			5,811			121,064
Other current liabilities		40,348			-			40,348
Total current liabilities		165,990			5,811			171,801
Long-term debt		12,836			-			12,836
Other liabilities		5,101			422			5,523
Stockholders’ equity
Common stock - Class A		16			-			16
Common stock - Class B		4			-			4
Additional paid-in capital		196,723			-			196,723
Treasury stock		(7,350	)		-			(7,350	)
Accumulated deficit		(48,485	)		(17,757	)		(66,242	)
Accumulated other comprehensive loss		(7,661	)		3			(7,658	)
Total stockholders’ equity		133,247			(17,754	)		115,493
Total liabilities and stockholders’ equity	$	317,174		$	(11,521	)	$	305,653

	As reported under Topic 606			Adjustments			Balances under Prior GAAP
	(in thousands, except per share amounts)
Revenue
Subscription fees	$	91,861		$	(1,628	)	$	90,233
License fees		25,568			(2,538	)		23,030
Maintenance and other		122,936			298			123,234
Professional services		92,651			(1,969	)		90,682
Total revenue		333,016			(5,837	)		327,179
Cost of revenue:
Subscription fees		34,128			(88	)		34,040
License fees		2,714			-			2,714
Maintenance and other		31,307			-			31,307
Professional services		87,735			-			87,735
Total cost of revenue		155,884			(88	)		155,796
Gross profit		177,132			(5,749	)		171,383
Operating expenses:
Sales and marketing		78,207			96			78,303
Research and development		53,993			(236	)		53,757
General and administrative		35,248			-			35,248
Amortization of intangible assets from acquisitions		111			-			111
Total operating expenses		167,559			(140	)		167,419
Operating income		9,573			(5,609	)		3,964
Other (income) expense
Interest income		(2,600	)		-			(2,600	)
Interest expense		643			-			643
Other income		(387	)		-			(387	)
Total other income, net		(2,344	)		-			(2,344	)
Income before income taxes		11,917			(5,609	)		6,308
Income tax expense		1,489			(393	)		1,096
Net income	$	10,428		$	(5,216	)	$	5,212
Basic income per share
Class A	$	0.55		$	(0.28	)	$	0.27
Class B	$	0.46		$	(0.23	)	$	0.23
Diluted income per share
Class A	$	0.50		$	(0.25	)	$	0.25
Class B	$	0.44		$	(0.22	)	$	0.22

	As reported under Topic 606			Adjustments			Balances under Prior GAAP
	(in thousands)
Net income	$	10,428		$	(5,216	)	$	5,212
Amortization of costs capitalized to obtain and fulfill contracts		4,176			(3,348	)		828
Net change in valuation allowance		3,224			648			3,872
Changes in operating assets and liabilities:
Costs capitalized to obtain and fulfill contracts		(4,130	)		3,354			(776	)
Other assets		(2,890	)		76			(2,814	)
Deferred revenue		3,031			4,483			7,514
Net cash provided by operating activities		19,007			(3	)		19,004
Effect of exchange rates on cash and equivalents		(2,668	)		3			(2,665	)

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Note 2 - Revenue (Tables)

12 Months Ended

Jan. 31, 2019

Disaggregation of Revenue [Table Text Block]

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
North America	$	162,307	$	141,614	$	129,436
EMEA		96,989		89,693		81,765
Asia Pacific		51,628		50,689		47,742
Latin America		22,092		23,022		19,030
Total revenue	$	333,016	$	305,018	$	277,973

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
Automotive	$	128,249	$	113,579	$	96,794
Consumer products and food and beverage		53,637		47,273		47,796
High technology and industrial products		106,658		99,990		91,652
Life sciences and other		44,472		44,176		41,731
Total revenue	$	333,016	$	305,018	$	277,973

Contract with Customer, Asset and Liability [Table Text Block]

	As of
	January 31, 2019		February 1, 2018
	(In thousands)
Contract assets, short-term (in Other current assets, net)	$	2,058	$	890
Contract assets, long-term (in Other assets, net)		—		110
Total contract assets	$	2,058	$	1,000
Deferred revenue, short-term	$	115,253	$	115,454
Deferred revenue, long-term (in Other labilities)		1,465		1,644
Total deferred revenue	$	116,718	$	117,098

	As of
	January 31, 2019		January 31, 2018
	(in thousands)
Deferred maintenance	$	77,037	$	80,811
Deferred subscription		34,020		31,034
Deferred professional services		2,146		3,523
Deferred license		1,713		756
Deferred other revenue		337		569
Deferred revenues, current		115,253		116,693
Deferred revenues, non-current (in Other liabilities)		1,465		2,156
Total deferred revenues	$	116,718	$	118,849

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Note 3 - Fair Value Measurements (Tables)

12 Months Ended

Jan. 31, 2019

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

	Fair value measurement at reporting date using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
Money market mutual funds as of January 31, 2019	$	107,855
Money market mutual funds as of January 31, 2018	$	115,416
Short-term investments as of January 31, 2019	$	1,200
Short-term investments as of January 31, 2018	$	—
Asset related to the interest rate swap as of January 31, 2019			$	136
Asset related to the interest rate swap as of January 31, 2018			$	187

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

	Asset
		Fair Value
	Balance Sheet Location	January 31, 2019		January 31, 2018
Derivative instrument:
Interest rate swap	Other assets, net	$	136	$	187
Total		$	136	$	187

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

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Note 4 - Income Taxes (Tables)

12 Months Ended

Jan. 31, 2019

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Years Ended January 31,
	2019		2018			2017
	(in thousands)
Domestic net income (loss) before income taxes	$	6,562	$	(4,793	)	$	(3,774	)
Foreign net income before income taxes		5,355		585			7,600
Consolidated net income (loss) before income taxes	$	11,917	$	(4,208	)	$	3,826

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Years Ended January 31,
	2019			2018			2017
	(in thousands)
Current:
U.S. federal	$	(829	)	$	2,862		$	437
State		(13	)		38			30
Foreign		3,784			2,433			3,894
Subtotal		2,942			5,333			4,361
Deferred:
U.S. federal		79			(519	)		11,564
State		(30	)		19			3,610
Foreign		(1,502	)		24			(348	)
Subtotal		(1,453	)		(476	)		14,826
Equity adjustment		—			—			89
Total	$	1,489		$	4,857		$	19,276

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Years Ended January 31,
	2019			2018			2017
	(in thousands)
Computed expected tax expense (benefit)	$	2,503		$	(1,431	)	$	1,301
State income taxes, net of federal income tax expense		96			(157	)		(54	)
Incremental tax expense from foreign operations		715			923			137
Equity compensation		(2,916	)		(1,004	)		(29	)
Foreign withholding taxes		1,089			794			676
Net change in valuation allowance		3,224			5,448			16,861
Net change in contingency reserve		(71	)		(81	)		198
Non-deductible expenses		1,149			(407	)		660
Benefit of tax credits		(3,483	)		(1,766	)		(1,243	)
Subpart F income		101			302			345
U.S. Tax Reform (the “Tax Act”)		(1,312	)		1,951			—
Other		394			285			424
Total	$	1,489		$	4,857		$	19,276

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	January 31,
	2019			2018
	(in thousands)
Deferred tax assets:
Allowance for doubtful accounts and sales adjustments	$	520		$	367
Accrued vacation		1,568			1,590
Tax credits		20,908			18,583
Deferred revenue		2,849			3,493
Net operating loss carry forwards		10,597			10,337
Accrued expenses - other		1,802			1,849
Other comprehensive income		1,189			1,164
Section 263(a) interest capitalization		198			206
Intellectual property		7,917			—
Equity compensation		4,626			4,380
Carryforward of Irish amortization		1,630			—
Other		2,345			1,243
Total deferred tax assets		56,149			43,212
Less valuation allowance		(34,898	)		(33,665	)
Less netting of unrecognized tax benefits against deferred tax assets		(886	)		(930	)
Deferred tax assets, net of valuation allowance	$	20,365		$	8,617
Deferred tax liabilities:
Depreciation and amortization		(804	)		(442	)
Topic 606: capitalized commissions and cloud costs		(2,891	)		—
Other		(498	)		(231	)
Total deferred tax liabilities		(4,193	)		(673	)
Total net deferred tax assets	$	16,172		$	7,944

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	Years Ended January 31,
	2019			2018
	(in thousands)
Unrecognized tax benefits at beginning of the year	$	1,662		$	1,743
Decreases as a result of tax positions taken in a prior period		(26	)		(115	)
Increases as a result of tax positions taken in the prior period		—			58
Reduction as a result of a lapse of the statute of limitations		(44	)		(24	)
Decreases as a result of settlements with taxing authorities		(424	)		—
Unrecognized tax benefit at end of year	$	1,168		$	1,662

List of Open Tax Year by Jurisdiction [Table Text Block]

Jurisdiction	Years Open for Audit
U.S. federal	Fiscal year 2016 and beyond
California	Fiscal year 2015 and beyond
Michigan	Fiscal year 2015 and beyond
New Jersey	Fiscal year 2015 and beyond
Australia	Fiscal year 2015 and beyond
France	Fiscal year 2016 and beyond
India	Fiscal years 2010, 2013 and 2014
Ireland	Fiscal year 2015 and beyond
United Kingdom	Fiscal year 2018 and beyond
China	Calendar year 2014 and beyond
Mexico	Calendar year 2014 and beyond

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Note 5 - Stockholders' Equity (Tables)

12 Months Ended

Jan. 31, 2019

Dividends Declared [Table Text Block]

Declaration Date	Record Date	Payable	Dividend Class A		Dividend Class B		(in thousands)
12/11/2018	12/26/2018	1/8/2019	$	0.072	$	0.06	$	1,374
9/11/2018	9/25/2018	10/2/2018	$	0.072	$	0.06	$	1,374
6/11/2018	6/25/2018	7/6/2018	$	0.072	$	0.06	$	1,372
4/10/2018	4/24/2018	5/1/2018	$	0.072	$	0.06	$	1,359

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Note 6 - Stock-based Compensation (Tables)

12 Months Ended

Jan. 31, 2019

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
Stock-based compensation expense:
Cost of subscription	$	252	$	161	$	113
Cost of maintenance and other revenue		497		384		299
Cost of professional services		1,219		1,085		848
Sales and marketing		2,111		1,510		1,200
Research and development		1,620		1,226		1,009
General and administrative		4,423		4,558		3,854
Total stock-based compensation expense	$	10,122	$	8,924	$	7,323

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

	RSUs (in thousands)			Weighted Average Grant Date Fair Value
Restricted stock at January 31, 2016		617		$	20.91
Granted		307			18.54
Released (1)		(259	)		18.96
Forfeited		(42	)		20.69
Restricted stock at January 31, 2017		623		$	20.56
Granted		295			30.69
Released (1)		(245	)		20.48
Forfeited		(20	)		22.36
Restricted stock at January 31, 2018		653		$	25.10
Granted		300			51.70
Released (1)		(263	)		25.80
Forfeited		(27	)		30.63
Restricted stock at January 31, 2019		663		$	36.64

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Years Ended January 31,
	2019			2018			2017
Expected life in years		5.50			5.50			5.25
Risk free interest rate		2.80	%		1.82	%		1.16	%
Volatility		31	%		33	%		36	%
Dividend rate		0.54	%		0.91	%		1.51	%

Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block]

	Options/ SARs (in thousands)			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 31, 2016		2,596		$	14.74
Granted		380			18.64
Exercised		(158	)		10.94
Expired		(17	)		12.56
Forfeited		(8	)		12.09
Outstanding at January 31, 2017		2,793		$	15.51
Granted		380			31.65
Exercised		(139	)		10.52
Expired		(10	)		9.74
Outstanding at January 31, 2018		3,024		$	17.78
Granted		380			53.50
Exercised		(390	)		9.43
Expired		(5	)		9.17
Forfeited		(476	)		37.14
Outstanding at January 31, 2019		2,533		$	20.81		3.5	$	53,155
Vested and exercisable at January 31, 2019		2,058	(1)	$	17.04		2.9	$	48,873

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Note 7 - Other Balance Sheet Accounts (Tables)

12 Months Ended

Jan. 31, 2019

Other Balance Sheet Accounts [Table Text Block]

	January 31,
	2019		2018
	(in thousands)
Other current assets
Deferred cost of revenues	$	8,007	$	8,330
Prepaid expenses		6,597		5,847
Capitalized commissions and sales agent fees		3,502		—
Accrued revenue		2,058		106
Capitalized cloud setup costs		521		—
Income tax receivable, net of payables		255		213
Other		1,210		1,360
	$	22,150	$	15,856
Other assets, net
Long-term capitalized commissions and sales agent fees	$	7,520	$	—
Long-term deposits and prepaid expenses		3,061		2,463
Other intangible assets, net		1,233		—
Long-term capitalized cloud setup costs		934		—
Fair value of interest rate swap		136		187
Other long-term assets		136		405
	$	13,020	$	3,055
Accounts payable
Trade payables	$	6,544	$	9,346
VAT payable		3,358		5,472
	$	9,902	$	14,818
Other current liabilities
Accrued commissions and bonus	$	15,464	$	18,039
Accrued compensated absences		9,130		9,177
Other accrued payroll		5,251		6,038
Accrued professional fees		2,729		1,884
Accrued travel		1,696		1,839
Accrued contract labor		1,975		2,655
Other current liabilities		4,103		3,828
	$	40,348	$	43,460
Other liabilities
Long-term deferred revenue	$	1,465	$	2,156
Accrued termination benefits		1,946		1,557
Lease restoration obligations		834		859
Long-term tax contingency reserve		282		688
Other		574		179
	$	5,101	$	5,439

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Note 8 - Debt (Tables)

12 Months Ended

Jan. 31, 2019

Schedule of Debt [Table Text Block]

	January 31,
	2019			2018
	(in thousands)
Note payable	$	13,358		$	13,825
Less current maturities		(487	)		(466	)
Less loan origination costs, net		(35	)		(46	)
Long-term debt	$	12,836		$	13,313

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Note 9 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Jan. 31, 2019

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Foreign Currency Translation Adjustments
	(in thousands)
Balance as of January 31, 2018	$	(6,828	)
Other comprehensive loss before reclassifications		(833	)
Amounts reclassified from accumulated other comprehensive loss		—
Net current period other comprehensive loss		(833	)
Balance as of January 31, 2019	$	(7,661	)

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Note 11 - Commitments and Contingencies (Tables)

12 Months Ended

Jan. 31, 2019

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

2020	$	5.6
2021		4.6
2022		2.8
2023		1.8
2024		1.5
Thereafter		2.8
	$	19.1

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Note 12 - Business Segment Information (Tables)

12 Months Ended

Jan. 31, 2019

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

	Years Ended January 31,
	2019		2018		2017
	(in thousands)
Revenue:
North America (1)	$	162,307	$	141,614	$	129,436
EMEA		96,989		89,693		81,765
Asia Pacific		51,628		50,689		47,742
Latin America		22,092		23,022		19,030
	$	333,016	$	305,018	$	277,973

	January 31,
	2019		2018
	(in thousands)
Property and equipment, net:
North America	$	24,735	$	25,546
EMEA		3,090		3,444
Asia Pacific		1,408		1,141
Latin America		388		277
	$	29,621	$	30,408

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Note 13 - Quarterly Information (Unaudited) (Tables)

12 Months Ended

Jan. 31, 2019

Quarterly Financial Information [Table Text Block]

	Quarters Ended
	April 30			July 31			Oct. 31			Jan. 31
	(in thousands, except per share data)
Fiscal 2019
Total revenue	$	86,190		$	84,543			79,577			82,706
Total costs and expenses		84,381			82,817			77,103			79,142
Gross margin		45,123			44,107			42,216			45,686
Operating income		1,809			1,726			2,474			3,564
Net income		1,397			1,113			2,982			4,936
Basic net income per share
Class A	$	0.07		$	0.06			0.16			0.26
Class B		0.06			0.05			0.13			0.22
Diluted net income per share
Class A	$	0.07		$	0.05			0.14			0.24
Class B		0.06			0.05			0.12			0.21
Fiscal 2018
Total revenue	$	71,382		$	75,958		$	76,925		$	80,753
Total costs and expenses		72,741			75,415			76,495			83,441
Gross margin		36,516			39,264			38,879			40,934
Operating (loss) income		(1,359	)		543			430			(2,688	)
Net loss		(2,571	)		(1,161	)		(161	)		(5,172	)
Basic net loss per share
Class A	$	(0.14	)	$	(0.06	)	$	(0.01	)	$	(0.28	)
Class B		(0.12	)		(0.05	)		(0.01	)		(0.23	)
Diluted net loss per share
Class A	$	(0.14	)	$	(0.06	)	$	(0.01	)	$	(0.28	)
Class B		(0.12	)		(0.05	)		(0.01	)		(0.23	)

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Schedule II - Schedule of Valuation and Qualifying Accounts (Tables)

12 Months Ended

Jan. 31, 2019

Schedule of Valuation and Qualifying Accounts [Table Text Block]

	Balance at Beginning of Period		Charged to Statements of Income		Write-Offs, Net of Recoveries			Impact of Foreign Currency Translation			Balance at End of Period
Year ended January 31, 2017
Allowance for bad debt	$	1,242	$	40	$	(184	)	$	(8	)	$	1,090
Allowance for sales adjustments		1,400		197		(472	)		(10	)		1,115
Total allowance for doubtful accounts	$	2,642	$	237	$	(656	)	$	(18	)	$	2,205
Year ended January 31, 2018
Allowance for bad debt	$	1,090	$	98	$	(834	)	$	42		$	396
Allowance for sales adjustments		1,115		923		(733	)		62			1,367
Total allowance for doubtful accounts	$	2,205	$	1,021	$	(1,567	)	$	104		$	1,763
Year ended January 31, 2019
Allowance for bad debt	$	396	$	144	$	(31	)	$	(22	)	$	487
Allowance for sales adjustments		1,367		1,608		(518	)		(43	)		2,414
Total allowance for doubtful accounts	$	1,763	$	1,752	$	(549	)	$	(65	)	$	2,901

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Note 1 - Summary of Business and Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017	Feb. 01, 2019	Apr. 30, 2018	Feb. 01, 2018
Foreign Currency Transaction Gain (Loss), before Tax, Total	$ (200,000)	$ 2,500,000	$ 200,000
Depreciation, Depletion and Amortization, Total	4,700,000	4,600,000	4,300,000
Impairment of Long-Lived Assets Held-for-use	$ 0	0	0
Capitalized Software Amortization Period	3 years
Write-off of Fully Amortized Software Development Costs	$ 300,000
Capitalized Computer Software, Amortization	$ 600,000	800,000	1,000,000
Finite-Lived Intangible Asset, Useful Life	5 years
Income Tax Expense (Benefit), Continuing Operations, Foreign Tax Credit	$ 1,300,000
Advertising Expense	700,000	700,000	1,100,000
Research and Development Expense, Total	$ 53,993,000	47,661,000	$ 43,587,000
Class Common Stock to Class B Common Stock Cash or Stock Dividends Payout Ratio	120.00%
Retained Earnings (Accumulated Deficit), Ending Balance	$ (48,485,000)	(75,559,000)				$ (53,434,000)
Contract with Customer, Liability, Total	116,718,000	118,849,000				117,098,000
Contract with Customer, Asset, Net, Total	2,058,000					$ 1,000,000
Deferred Tax Assets, Net of Valuation Allowance, Total	$ 20,365,000	$ 8,617,000
Commission Expense [Member]
Capitalized Contract Cost, Amortization Period						5 years
Sales Agent Fees [Member]
Capitalized Contract Cost, Amortization Period						5 years
Cloud Environment Setup Costs [Member]
Capitalized Contract Cost, Amortization Period						5 years
Accounting Standards Update 2016-16 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance						$ 9,584,000
Deferred Tax Assets, Net of Valuation Allowance, Total					$ 9,600,000	9,600,000
Accounting Standards Update 2014-09 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance						12,541,000
Accounting Standards Update 2014-09 [Member] \| Removal of Vendor Specific Objective Evidence [Member]
Retained Earnings (Accumulated Deficit), Ending Balance						2,000,000
Contract with Customer, Liability, Total						(2,000,000)
Accounting Standards Update 2014-09 [Member] \| Removal of Limitation on Contingent Revenue [Member]
Retained Earnings (Accumulated Deficit), Ending Balance						800,000
Contract with Customer, Asset, Net, Total						800,000
Accounting Standards Update 2014-09 [Member] \| Contracts Containing Future Option to Customer Reprsented Material Right Which Resulted in Deferred of Revenue [Member]
Retained Earnings (Accumulated Deficit), Ending Balance						(300,000)
Contract with Customer, Liability, Total						300,000
Accounting Standards Update 2014-09 [Member] \| Commission Expense Related to Contracts No Longer Expensed as Incurred [Member]
Retained Earnings (Accumulated Deficit), Ending Balance						9,100,000
Other Assets, Total						9,100,000
Accounting Standards Update 2014-09 [Member] \| Sales Agent Fees to Obtain Contracts No Longer Expensed as Incurred [Member]
Retained Earnings (Accumulated Deficit), Ending Balance						1,000,000
Other Assets, Total						1,000,000
Accounting Standards Update 2014-09 [Member] \| Cloud Environment Setup Costs Incurred to Fufill New Cloud Customer Contracts No Longer Expensed as Incurred [Member]
Retained Earnings (Accumulated Deficit), Ending Balance						(1,500,000)
Accounting Standards Update 2014-09 [Member] \| Adjustments for Tax Impact Related to Adoption of ASU 2014-09 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance						(1,600,000)
Deferred Tax Assets, Net of Valuation Allowance, Total						$ (1,600,000)
Accounting Standards Update 2016-02 [Member] \| Subsequent Event [Member] \| Minimum [Member]
Operating Lease, Right-of-Use Asset				$ 11,000,000
Operating Lease, Liability, Total				18,000,000
Accounting Standards Update 2016-02 [Member] \| Subsequent Event [Member] \| Maximum [Member]
Operating Lease, Right-of-Use Asset				16,000,000
Operating Lease, Liability, Total				$ 27,000,000
Computer Equipment and Software [Member]
Property, Plant and Equipment, Useful Life	3 years
Furniture and Office Equipment [Member]
Property, Plant and Equipment, Useful Life	5 years
Building Improvements [Member]
Property, Plant and Equipment, Useful Life	10 years
Building [Member]
Property, Plant and Equipment, Useful Life	39 years
Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life	5 years
Customer Concentration Risk [Member] \| Sales Revenue, Net [Member]
Concentration Risk, Percentage	10.00%	0.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Concentration Risk, Percentage	0.00%	0.00%

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Note 1 - Summary of Business and Significant Accounting Policies - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Accounts receivable	$ 84,478	$ 85,281
Doubtful accounts	(487)	(396)
Sales adjustments	(2,414)	(1,367)
Accounts receivable, net	$ 81,577	$ 83,518

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Note 1 - Summary of Business and Significant Accounting Policies - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018	Jan. 31, 2017
Property and Equipment, Gross	$ 68,794		$ 67,969	$ 64,642
Less accumulated depreciation and amortization	(39,173)		(37,561)	$ (33,770)
Property and Equipment, Net	29,621	$ 30,408	30,408
Building and Building Improvements [Member]
Property and Equipment, Gross	32,238		32,444
Computer Equipment and Software [Member]
Property and Equipment, Gross	17,671		17,312
Furniture and Office Equipment [Member]
Property and Equipment, Gross	7,672		7,632
Leasehold Improvements [Member]
Property and Equipment, Gross	7,309		6,677
Land [Member]
Property and Equipment, Gross	3,850		3,850
Automobiles [Member]
Property and Equipment, Gross	$ 54		$ 54

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Note 1 - Summary of Business and Significant Accounting Policies - Changes in Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Feb. 01, 2018
Property and Equipment, Gross, Beginning Balance	$ 67,969	$ 64,642
Property and Equipment, Gross, Additions	4,340	3,720
Property and Equipment, Gross, Disposals	(2,512)	(1,874)
Property and Equipment, Gross, Impact of Foreign Currency Translation	(1,003)	1,481
Property and Equipment, Gross, Ending Balance	68,794	67,969
Accumulated Depreciation, Beginning Balance	(37,561)	(33,770)
Depreciation	(4,734)	(4,562)
Accumulated Depreciation, Disposals	2,474	1,719
Accumulated Depreciation, Impact of Foreign Currency Translation	648	(948)
Accumulated Depreciation, Ending Balance	(39,173)	(37,561)
Property and Equipment, Net	$ 29,621	$ 30,408	$ 30,408

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Note 1 - Summary of Business and Significant Accounting Policies - Capitalized Software Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018
Capitalized software costs:
Capitalized software development costs	$ 2,314		$ 1,516
Acquired software technology	135
	2,449		1,516
Less accumulated amortization	(851)		(526)
	$ 1,598	$ 990	$ 990

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Note 1 - Summary of Business and Significant Accounting Policies - Future Amortization Expense (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018
2020	$ 759
2021	572
2022	226
2023	27
Thereafter	14
	$ 1,598	$ 990	$ 990

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Note 1 - Summary of Business and Significant Accounting Policies - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Beginning balance, gross	$ 26,631	$ 26,166
Impact of foreign currency translation, gross	(110)	465
Additions	1,510
Ending balance, gross	28,031	26,631
Accumulated impairment	(15,608)	(15,608)
Beginning balance, net	11,023	10,558
Impact of foreign currency translation	(110)	465
Additions	1,510
Ending balance, net	$ 12,423	$ 11,023

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Note 1 - Summary of Business and Significant Accounting Policies - Intangible Assets (Details) $ in Thousands	Jan. 31, 2019 USD ($)
Amortizable intangible assets
Less: accumulated amortization	$ (115)
Net amortizable intangible assets	1,233
Customer Relationships [Member]
Amortizable intangible assets
Amortizable intangible assets, gross	$ 1,348

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Note 1 - Summary of Business and Significant Accounting Policies - Future Amortization of Intangible Assets (Details) $ in Thousands	Jan. 31, 2019 USD ($)
2020	$ 270
2021	270
2022	270
2023	270
Thereafter	153
Net amortizable intangible assets	$ 1,233

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Note 1 - Summary of Business and Significant Accounting Policies - Other (Income) Expense, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Interest income	$ (2,600)	$ (1,547)	$ (696)
Interest expense	643	669	670
Foreign exchange (gains) losses	(229)	2,466	180
Change in fair value of interest rate swap	51	(377)	(485)
Other income, net	(209)	(77)	(131)
Total other (income) expense, net	$ (2,344)	$ 1,134	$ (462)

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Note 1 - Summary of Business and Significant Accounting Policies - Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Net income (loss)	$ 4,936	$ 2,982	$ 1,113	$ 1,397	$ (5,172)	$ (161)	$ (1,161)	$ (2,571)	$ 10,428	$ (9,065)	$ (15,450)
Less: dividends declared									(5,479)	(5,367)	(5,301)
Undistributed net income (loss)									4,949	(14,432)	(20,751)
Dividends declared									5,479	5,367	5,301
Allocation of undistributed net income (loss)									4,949	(14,432)	(20,751)
Common Class A [Member]
Net income (loss)									8,939	(7,762)	(13,211)
Less: dividends declared									(4,696)	(4,596)	(4,531)
Undistributed net income (loss)									4,243	(12,358)	(17,742)
Dividends declared									4,696	4,596	4,531
Allocation of undistributed net income (loss)									$ 4,243	$ (12,358)	$ (17,742)
Weighted average shares of common stock outstanding—basic (in shares)									16,267	15,942	15,715
Weighted average potential shares of common stock (in shares)									1,585
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares)									17,852	15,942	15,715
Basic net (loss) income per common share (in dollars per share)	$ 0.26	$ 0.16	$ 0.06	$ 0.07	$ (0.28)	$ (0.01)	$ (0.06)	$ (0.14)	$ 0.55	$ (0.49)	$ (0.84)
Diluted net (loss) income per common share (in dollars per share)	0.24	0.14	0.05	0.07	(0.28)	(0.01)	(0.06)	(0.14)	$ 0.50	$ (0.49)	$ (0.84)
Common Class B [Member]
Net income (loss)									$ 1,489	$ (1,303)	$ (2,239)
Less: dividends declared									(783)	(771)	(770)
Undistributed net income (loss)									706	(2,074)	(3,009)
Dividends declared									783	771	770
Allocation of undistributed net income (loss)									$ 706	$ (2,074)	$ (3,009)
Weighted average shares of common stock outstanding—basic (in shares)									3,256	3,213	3,206
Weighted average potential shares of common stock (in shares)									166
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares)									3,422	3,213	3,206
Basic net (loss) income per common share (in dollars per share)	0.22	0.13	0.05	0.06	(0.23)	(0.01)	(0.05)	(0.12)	$ 0.46	$ (0.41)	$ (0.70)
Diluted net (loss) income per common share (in dollars per share)	$ 0.21	$ 0.12	$ 0.05	$ 0.06	$ (0.23)	$ (0.01)	$ (0.05)	$ (0.12)	$ 0.44	$ (0.41)	$ (0.70)

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Note 1 - Summary of Business and Significant Accounting Policies - Anti-dilutive Shares (Details) - shares shares in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Common Class A [Member]
Anti-dilutive shares (in shares)	325	3,236	2,985
Common Class B [Member]
Anti-dilutive shares (in shares)		380	378

XML 63 R48.htm IDEA: XBRL DOCUMENT

Note 1 - Summary of Business and Significant Accounting Policies - Effects of Adopting Topic 606 (Details) - USD ($)

3 Months Ended

12 Months Ended

Jan. 31, 2019

Oct. 31, 2018

Jul. 31, 2018

Apr. 30, 2018

Jan. 31, 2018

Oct. 31, 2017

Jul. 31, 2017

Apr. 30, 2017

Jan. 31, 2019

Jan. 31, 2018

Jan. 31, 2017

Feb. 01, 2018

Jan. 31, 2016

Cash and Cash Equivalents, at Carrying Value, Ending Balance

$ 139,413,000

$ 147,023,000

$ 139,413,000

$ 147,023,000

$ 145,082,000

$ 147,023,000

$ 137,731,000

81,577,000

83,518,000

81,577,000

83,518,000

22,150,000

15,856,000

22,150,000

15,856,000

19,869,000

244,340,000

246,397,000

244,340,000

246,397,000

250,410,000

29,621,000

30,408,000

29,621,000

30,408,000

1,598,000

990,000

1,598,000

990,000

12,423,000

11,023,000

12,423,000

11,023,000

10,558,000

11,023,000

7,944,000

15,885,000

13,020,000

3,055,000

13,020,000

3,055,000

11,476,000

317,174,000

299,817,000

317,174,000

299,817,000

320,192,000

487,000

466,000

487,000

466,000

9,902,000

14,818,000

9,902,000

14,818,000

115,253,000

116,693,000

115,253,000

116,693,000

115,454,000

40,348,000

43,460,000

40,348,000

43,460,000

165,990,000

175,437,000

165,990,000

175,437,000

174,198,000

12,836,000

13,313,000

12,836,000

13,313,000

5,101,000

5,439,000

5,101,000

5,439,000

4,928,000

196,723,000

200,456,000

196,723,000

200,456,000

Retained Earnings (Accumulated Deficit), Ending Balance

(7,350,000)

(12,461,000)

(7,350,000)

(12,461,000)

(48,485,000)

(75,559,000)

(48,485,000)

(75,559,000)

(53,434,000)

(7,661,000)

(6,828,000)

(7,661,000)

(6,828,000)

133,247,000

105,628,000

133,247,000

105,628,000

112,686,000

127,753,000

127,011,000

317,174,000

299,817,000

317,174,000

299,817,000

320,192,000

139,413,000

147,023,000

139,413,000

147,023,000

145,082,000

147,023,000

137,731,000

Short-term investments

1,200,000

81,577,000

83,518,000

81,577,000

83,518,000

22,150,000

15,856,000

22,150,000

15,856,000

19,869,000

244,340,000

246,397,000

244,340,000

246,397,000

250,410,000

29,621,000

30,408,000

29,621,000

30,408,000

1,598,000

990,000

1,598,000

990,000

12,423,000

11,023,000

12,423,000

11,023,000

10,558,000

11,023,000

16,172,000

13,020,000

3,055,000

13,020,000

3,055,000

11,476,000

317,174,000

299,817,000

317,174,000

299,817,000

320,192,000

487,000

466,000

487,000

466,000

9,902,000

14,818,000

9,902,000

14,818,000

115,253,000

116,693,000

115,253,000

116,693,000

115,454,000

40,348,000

43,460,000

40,348,000

43,460,000

165,990,000

175,437,000

165,990,000

175,437,000

174,198,000

12,836,000

13,313,000

12,836,000

13,313,000

5,101,000

5,439,000

5,101,000

5,439,000

4,928,000

196,723,000

200,456,000

196,723,000

200,456,000

(48,485,000)

(75,559,000)

(48,485,000)

(75,559,000)

(53,434,000)

(7,661,000)

(6,828,000)

(7,661,000)

(6,828,000)

133,247,000

105,628,000

133,247,000

105,628,000

112,686,000

127,753,000

$ 127,011,000

317,174,000

299,817,000

317,174,000

299,817,000

320,192,000

82,706,000

$ 79,577,000

$ 84,543,000

$ 86,190,000

80,753,000

$ 76,925,000

$ 75,958,000

$ 71,382,000

333,016,000

305,018,000

277,973,000

General and administrative

79,142,000

77,103,000

82,817,000

84,381,000

83,441,000

76,495,000

75,415,000

72,741,000

155,884,000

149,425,000

130,851,000

Gross profit

45,686,000

42,216,000

44,107,000

45,123,000

40,934,000

38,879,000

39,264,000

36,516,000

177,132,000

155,593,000

147,122,000

Sales and marketing

78,207,000

75,368,000

67,194,000

Research and development

53,993,000

47,661,000

43,587,000

35,248,000

35,222,000

32,318,000

Amortization of intangible assets from acquisitions

111,000

416,000

659,000

Total operating expenses

167,559,000

158,667,000

143,758,000

Operating income

3,564,000

2,474,000

1,726,000

1,809,000

(2,688,000)

430,000

543,000

(1,359,000)

9,573,000

(3,074,000)

3,364,000

Interest income

(2,600,000)

(1,547,000)

(696,000)

Interest expense

643,000

669,000

670,000

Other (income) expense, net

(387,000)

2,012,000

(436,000)

Total other (income) expense, net

(2,344,000)

1,134,000

(462,000)

Income before income taxes

11,917,000

(4,208,000)

3,826,000

Income tax expense

1,489,000

4,857,000

19,276,000

4,936,000

2,982,000

1,113,000

1,397,000

(5,172,000)

(161,000)

(1,161,000)

(2,571,000)

10,428,000

(9,065,000)

(15,450,000)

Amortization of costs capitalized to obtain and fulfill contracts

4,936,000

$ 2,982,000

$ 1,113,000

$ 1,397,000

(5,172,000)

$ (161,000)

$ (1,161,000)

$ (2,571,000)

10,428,000

(9,065,000)

(15,450,000)

4,176,000

Net change in valuation allowance

3,224,000

1,695,000

16,861,000

Costs capitalized to obtain and fulfill contracts

(4,130,000)

Other assets

(2,890,000)

(1,204,000)

(90,000)

Net cash provided by operating activities

3,031,000

7,001,000

7,245,000

19,007,000

10,418,000

18,680,000

Effect of exchange rates on cash and equivalents

(2,668,000)

5,357,000

(109,000)

Common Class A [Member]

16,000

$ 16,000

16,000

$ 8,939,000

$ (7,762,000)

$ (13,211,000)

$ 0.26

$ 0.16

$ 0.06

$ 0.07

$ (0.28)

$ (0.01)

$ (0.06)

$ (0.14)

$ 0.55

$ (0.49)

$ (0.84)

$ 0.24

0.14

0.05

0.07

$ (0.28)

(0.01)

(0.06)

(0.14)

$ 0.50

$ (0.49)

$ (0.84)

$ 8,939,000

$ (7,762,000)

$ (13,211,000)

Common Class B [Member]

$ 4,000

4,000

$ 4,000

4,000

$ 1,489,000

$ (1,303,000)

$ (2,239,000)

$ 0.22

0.13

0.05

0.06

$ (0.23)

(0.01)

(0.05)

(0.12)

$ 0.46

$ (0.41)

$ (0.70)

$ 0.21

$ 0.12

$ 0.05

$ 0.06

$ (0.23)

$ (0.01)

$ (0.05)

$ (0.12)

$ 0.44

$ (0.41)

$ (0.70)

Subscription and Circulation [Member]

$ 1,489,000

$ (1,303,000)

$ (2,239,000)

$ 34,020,000

$ 31,034,000

34,020,000

31,034,000

34,020,000

31,034,000

34,020,000

31,034,000

91,861,000

69,615,000

52,167,000

34,128,000

30,563,000

27,027,000

License [Member]

1,713,000

756,000

1,713,000

756,000

1,713,000

756,000

1,713,000

756,000

25,568,000

25,807,000

23,633,000

2,714,000

2,946,000

2,990,000

Maintenance [Member]

77,037,000

80,811,000

77,037,000

80,811,000

77,037,000

80,811,000

77,037,000

80,811,000

122,936,000

128,142,000

130,406,000

Professional Services [Member]

31,307,000

31,246,000

30,517,000

2,146,000

3,523,000

2,146,000

3,523,000

2,146,000

$ 3,523,000

2,146,000

3,523,000

92,651,000

81,454,000

71,767,000

Calculated under Revenue Guidance in Effect before Topic 606 [Member]

87,735,000

$ 84,670,000

$ 70,317,000

Cash and Cash Equivalents, at Carrying Value, Ending Balance

139,413,000

81,577,000

18,412,000

240,602,000

29,621,000

1,598,000

12,423,000

5,031,000

305,653,000

487,000

9,902,000

121,064,000

40,348,000

171,801,000

12,836,000

5,523,000

196,723,000

Retained Earnings (Accumulated Deficit), Ending Balance

(7,350,000)

(66,242,000)

(7,658,000)

115,493,000

305,653,000

139,413,000

Short-term investments

1,200,000

81,577,000

18,412,000

240,602,000

29,621,000

1,598,000

12,423,000

16,378,000

5,031,000

305,653,000

487,000

9,902,000

121,064,000

40,348,000

171,801,000

12,836,000

5,523,000

196,723,000

(66,242,000)

(7,658,000)

115,493,000

General and administrative

305,653,000

327,179,000

155,796,000

171,383,000

78,303,000

Research and development

53,757,000

35,248,000

Amortization of intangible assets from acquisitions

111,000

Total operating expenses

167,419,000

Operating income

3,964,000

Interest income

(2,600,000)

Interest expense

643,000

Other (income) expense, net

(387,000)

Total other (income) expense, net

(2,344,000)

Income before income taxes

6,308,000

Income tax expense

1,096,000

5,212,000

Amortization of costs capitalized to obtain and fulfill contracts

5,212,000

828,000

Net change in valuation allowance

3,872,000

Costs capitalized to obtain and fulfill contracts

(776,000)

Other assets

(2,814,000)

Net cash provided by operating activities

7,514,000

19,004,000

Effect of exchange rates on cash and equivalents

(2,665,000)

Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Common Class A [Member]

16,000

16,000

$ 16,000

$ 0.27

Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Common Class B [Member]

$ 0.25

4,000

$ 4,000

4,000

$ 4,000

$ 0.23

Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Subscription and Circulation [Member]

$ 0.22

$ 90,233,000

Calculated under Revenue Guidance in Effect before Topic 606 [Member] | License [Member]

34,040,000

23,030,000

Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Maintenance [Member]

2,714,000

123,234,000

Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Professional Services [Member]

31,307,000

90,682,000

Accounting Standards Update 2014-09 [Member]

87,735,000

Cash and Cash Equivalents, at Carrying Value, Ending Balance

4,013,000

4,013,000

(1,643,000)

8,421,000

10,791,000

(1,239,000)

(1,239,000)

(511,000)

Retained Earnings (Accumulated Deficit), Ending Balance

12,541,000

12,541,000

10,791,000

4,013,000

4,013,000

8,421,000

10,791,000

(1,239,000)

(1,239,000)

(511,000)

12,541,000

12,541,000

Accounting Standards Update 2014-09 [Member] | Common Class A [Member]

10,791,000

Accounting Standards Update 2014-09 [Member] | Common Class B [Member]

Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]

Cash and Cash Equivalents, at Carrying Value, Ending Balance

(3,738,000)

(3,738,000)

(7,989,000)

(11,521,000)

5,811,000

5,811,000

422,000

Retained Earnings (Accumulated Deficit), Ending Balance

(17,757,000)

3,000

(17,754,000)

(11,521,000)

Short-term investments

(3,738,000)

(3,738,000)

206,000

(7,989,000)

(11,521,000)

5,811,000

5,811,000

422,000

(17,757,000)

3,000

(17,754,000)

General and administrative

(11,521,000)

(5,837,000)

(88,000)

(5,749,000)

96,000

Research and development

(236,000)

Amortization of intangible assets from acquisitions

Total operating expenses

(140,000)

Operating income

(5,609,000)

Interest income

Interest expense

Other (income) expense, net

Total other (income) expense, net

Income before income taxes

(5,609,000)

Income tax expense

(393,000)

(5,216,000)

Amortization of costs capitalized to obtain and fulfill contracts

(5,216,000)

(3,348,000)

Net change in valuation allowance

648,000

Costs capitalized to obtain and fulfill contracts

3,354,000

Other assets

76,000

Net cash provided by operating activities

4,483,000

(3,000)

Effect of exchange rates on cash and equivalents

3,000

Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Common Class A [Member]

$ (0.28)

Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Common Class B [Member]

$ (0.25)

$ (0.23)

Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Subscription and Circulation [Member]

$ (0.22)

$ (1,628,000)

Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | License [Member]

(88,000)

(2,538,000)

Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Maintenance [Member]

298,000

Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Professional Services [Member]

(1,969,000)

Accounting Standards Update 2016-16 [Member]

Cash and Cash Equivalents, at Carrying Value, Ending Balance

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

9,584,000

^[1]

^[1]

9,584,000

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

Retained Earnings (Accumulated Deficit), Ending Balance

^[1]

9,584,000

^[1]

^[1]

9,584,000

^[1]

9,584,000

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

9,584,000

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

^[1]

9,584,000

^[1]

^[1]

9,584,000

Accounting Standards Update 2016-16 [Member] | Common Class A [Member]

^[1]

9,584,000

^[1]

Accounting Standards Update 2016-16 [Member] | Common Class B [Member]

^[1]

^[1]

Restricted stock (in shares)

^[1]

[1]	For further information about the adoption of ASU2016-16 Intra-entity Transfers of Assets Other Than Inventory see Note 4 "Income Taxes."

XML 64 R49.htm IDEA: XBRL DOCUMENT

Note 2 - Revenue 1 (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017	Oct. 31, 2018	Feb. 01, 2018
Contract with Customer, Liability, Revenue Recognized	$ 112,100
Revenue, Remaining Performance Obligation, Amount	262,400
Capitalized Contract Cost, Amortization	4,176
Capitalized Contract Cost, Impairment Loss	$ 0
Direct Costs of Obtaining Contract [Member]
Capitalized Contract Cost, Amortization Period	5 years
Capitalized Contract Cost, Net, Total	$ 11,000	$ 10,100
Direct Costs of Obtaining Contract [Member] \| Selling and Marketing Expense [Member]
Capitalized Contract Cost, Amortization	3,600
Costs to Fulfill Contract [Member]
Capitalized Contract Cost, Amortization Period				5 years
Capitalized Contract Cost, Net, Total	1,500				$ 1,500
Costs to Fulfill Contract [Member] \| Cost of Sales [Member]
Capitalized Contract Cost, Amortization	$ 500

XML 65 R50.htm IDEA: XBRL DOCUMENT

Note 2 - Revenue 2 (Details Textual) $ in Thousands	Jan. 31, 2019 USD ($)
Revenue, Remaining Performance Obligation, Amount	$ 262,400
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-02-01
Revenue, Remaining Performance Obligation, Amount	$ 166,500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

XML 66 R51.htm IDEA: XBRL DOCUMENT

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Revenues	$ 82,706	$ 79,577	$ 84,543	$ 86,190	$ 80,753	$ 76,925	$ 75,958	$ 71,382	$ 333,016	$ 305,018	$ 277,973
Automotive [Member]
Revenues									128,249	113,579	96,794
Consumer Products and Food and Beverage [Member]
Revenues									53,637	47,273	47,796
High Technology and Industrial Products [Member]
Revenues									106,658	99,990	91,652
Life Sciences [Member]
Revenues									44,472	44,176	41,731
North America [Member]
Revenues									162,307	141,614	129,436
EMEA [Member]
Revenues									96,989	89,693	81,765
Asia Pacific [Member]
Revenues									51,628	50,689	47,742
Latin America [Member]
Revenues									$ 22,092	$ 23,022	$ 19,030

XML 67 R52.htm IDEA: XBRL DOCUMENT

Note 2 - Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018
Contract assets, short-term (in Other current assets, net)	$ 2,058	$ 890
Contract assets, long-term (in Other assets, net)		110
Total contract assets	2,058	1,000
Deferred revenue	115,253	115,454	$ 116,693
Deferred revenue, long-term (in Other labilities)	1,465	1,644	2,156
Total deferred revenue	116,718	117,098	118,849
Deferred revenues, current	115,253	115,454	116,693
Deferred revenues, non-current (in Other liabilities)	1,465	$ 1,644	2,156
Maintenance [Member]
Deferred revenue	77,037		80,811
Deferred revenues, current	77,037		80,811
Subscription and Circulation [Member]
Deferred revenue	34,020		31,034
Deferred revenues, current	34,020		31,034
Professional Services [Member]
Deferred revenue	2,146		3,523
Deferred revenues, current	2,146		3,523
License [Member]
Deferred revenue	1,713		756
Deferred revenues, current	1,713		756
Product and Service, Other [Member]
Deferred revenue	337		569
Deferred revenues, current	$ 337		$ 569

XML 68 R53.htm IDEA: XBRL DOCUMENT

Note 3 - Fair Value Measurements (Details Textual) - USD ($)	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017	Feb. 01, 2018	Jan. 31, 2016
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 139,413,000	$ 147,023,000	$ 145,082,000	$ 147,023,000	$ 137,731,000
Interest Rate Swap [Member]
Derivative, Gain (Loss) on Derivative, Net, Total	51,000	377,000	$ 485,000
Reported Value Measurement [Member]
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 31,600,000	$ 32,000,000

XML 69 R54.htm IDEA: XBRL DOCUMENT

Note 3 - Fair Value Measurements - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Short-term investments	$ 1,200
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Money market mutual funds	107,855	115,416
Short-term investments	1,200
Fair value of derivative instrument
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Money market mutual funds
Short-term investments
Fair value of derivative instrument	$ 136	$ 187

XML 70 R55.htm IDEA: XBRL DOCUMENT

Note 3 - Fair Value Measurements - Fair Values of the Derivative Instrument (Details) - Fair Value, Inputs, Level 2 [Member] - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Derivative instrument:
Fair value of derivative instrument	$ 136	$ 187
Fair value of derivative instrument	136	187
Interest Rate Swap [Member] \| Other Noncurrent Assets [Member]
Derivative instrument:
Fair value of derivative instrument	136
Fair value of derivative instrument	$ 136
Interest Rate Swap [Member] \| Other Noncurrent Liabilities [Member]
Derivative instrument:
Fair value of derivative instrument		187
Fair value of derivative instrument		$ 187

XML 71 R56.htm IDEA: XBRL DOCUMENT

Note 4 - Income Taxes (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
Note 4 - Income Taxes (Details Textual) - USD ($)	Jan. 31, 2019	Jan. 31, 2019	Apr. 30, 2018	Feb. 01, 2018	Jan. 31, 2018
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%
Income Tax Rate, Transition Tax on Accumulated Foreign Earnings, Percent		15.50%
Transition Tax for Accumulated Foreign Earnings, Liability	$ 700,000	$ 700,000			$ 2,000,000
Tax Cuts and Jobs Act of 2017, Measurement Period Adjustment, Income Tax Expense (Benefit)	(1,300,000)
Undistributed Earnings of Foreign Subsidiaries	89,000,000	89,000,000
Deferred Tax Assets, Valuation Allowance, Total	34,898,000	34,898,000			33,665,000
Sale of Intangible Assets, Additional Tax Basis	10,000,000
Deferred Tax Assets, Net of Valuation Allowance, Total	20,365,000	20,365,000			$ 8,617,000
Operating Loss Carryforwards, Total	38,500,000	38,500,000
Tax Credit Carryforward, Amount	23,200,000	23,200,000
Unrecognized Tax Benefits, Period Increase (Decrease), Total		500,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total		9,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	100,000	100,000
Research Tax Credit Carryforward [Member] \| Expiring October 2019 [Member]
Tax Credit Carryforward, Amount	167,000	167,000
Domestic Tax Authority [Member] \| Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	6,500,000	6,500,000
State and Local Jurisdiction [Member] \| Research Tax Credit Carryforward [Member] \| California Franchise Tax Board [Member]
Tax Credit Carryforward, Amount	$ 10,800,000	$ 10,800,000
Accounting Standards Update 2016-16 [Member]
Deferred Tax Assets, Net of Valuation Allowance, Total			$ 9,600,000	$ 9,600,000

XML 72 R57.htm IDEA: XBRL DOCUMENT

Note 4 - Income Taxes - Summary of Consolidated Net (Loss) Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Domestic net income (loss) before income taxes	$ 6,562	$ (4,793)	$ (3,774)
Foreign net income before income taxes	5,355	585	7,600
Income (loss) before income taxes	$ 11,917	$ (4,208)	$ 3,826

XML 73 R58.htm IDEA: XBRL DOCUMENT

Note 4 - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
U.S. federal	$ (829)	$ 2,862	$ 437
State	(13)	38	30
Foreign	3,784	2,433	3,894
Subtotal	2,942	5,333	4,361
U.S. federal	79	(519)	11,564
State	(30)	19	3,610
Foreign	(1,502)	24	(348)
Subtotal	(1,453)	(476)	14,826
Equity adjustment			89
Total	$ 1,489	$ 4,857	$ 19,276

XML 74 R59.htm IDEA: XBRL DOCUMENT

Note 4 - Income Taxes - Reconciliation of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Computed expected tax expense (benefit)	$ 2,503	$ (1,431)	$ 1,301
State income taxes, net of federal income tax expense	96	(157)	(54)
Incremental tax expense from foreign operations	715	923	137
Equity compensation	(2,916)	(1,004)	(29)
Foreign withholding taxes	1,089	794	676
Net change in valuation allowance	3,224	5,448	16,861
Net change in contingency reserve	(71)	(81)	198
Non-deductible expenses	1,149	(407)	660
Benefit of tax credits	(3,483)	(1,766)	(1,243)
Subpart F income	101	302	345
U.S. Tax Reform (the “Tax Act”)	(1,312)	1,951
Other	394	285	424
Total	$ 1,489	$ 4,857	$ 19,276

XML 75 R60.htm IDEA: XBRL DOCUMENT

Note 4 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Allowance for doubtful accounts and sales adjustments	$ 520	$ 367
Accrued vacation	1,568	1,590
Tax credits	20,908	18,583
Deferred revenue	2,849	3,493
Net operating loss carry forwards	10,597	10,337
Accrued expenses - other	1,802	1,849
Other comprehensive income	1,189	1,164
Section 263(a) interest capitalization	198	206
Intellectual property	7,917
Equity compensation	4,626	4,380
Carryforward of Irish amortization	1,630
Other	2,345	1,243
Total deferred tax assets	56,149	43,212
Less valuation allowance	(34,898)	(33,665)
Less netting of unrecognized tax benefits against deferred tax assets	(886)	(930)
Deferred tax assets, net of valuation allowance	20,365	8,617
Depreciation and amortization	(804)	(442)
Topic 606: capitalized commissions and cloud costs	(2,891)
Other	(498)	(231)
Total deferred tax liabilities	(4,193)	(673)
Total net deferred tax assets	$ 16,172	$ 7,944

XML 76 R61.htm IDEA: XBRL DOCUMENT

Note 4 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
Unrecognized tax benefits at beginning of the year	$ 1,662	$ 1,743
Decreases as a result of tax positions taken in a prior period	(26)	(115)
Increases as a result of tax positions taken in the prior period		58
Reduction as a result of a lapse of the statute of limitations	(44)	(24)
Decreases as a result of settlements with taxing authorities	(424)
Unrecognized tax benefit at end of year	$ 1,168	$ 1,662

XML 77 R62.htm IDEA: XBRL DOCUMENT

Note 4 - Income Taxes - Open Tax Years (Details)	12 Months Ended
Note 4 - Income Taxes - Open Tax Years (Details)	Jan. 31, 2019
Domestic Tax Authority [Member]
Open tax years	2016 2017 2018 2019
State and Local Jurisdiction [Member] \| California Franchise Tax Board [Member]
Open tax years	2015 2016 2017 2018 2019
State and Local Jurisdiction [Member] \| Michigan Department of Treasury [Member]
Open tax years	2015 2016 2017 2018 2019
State and Local Jurisdiction [Member] \| New Jersey Division of Taxation [Member]
Open tax years	2015 2016 2017 2018 2019
Foreign Tax Authority [Member] \| Australian Taxation Office [Member]
Open tax years	2015 2016 2017 2018 2019
Foreign Tax Authority [Member] \| Ministry of the Economy, Finance and Industry, France [Member]
Open tax years	2016 2017 2018 2019
Foreign Tax Authority [Member] \| Ministry of Finance, India [Member]
Open tax years	2010 2013 2014
Foreign Tax Authority [Member] \| Revenue Commissioners, Ireland [Member]
Open tax years	2010 2013 2014
Foreign Tax Authority [Member] \| HM Revenue & Customs [Member]
Open tax years	2018 2019
Foreign Tax Authority [Member] \| State Administration of Taxation [Member]
Open tax years	2014 2015 2016 2017 2018 2019
Foreign Tax Authority [Member] \| Servicio de Administración Tributaria [Member]
Open tax years	2014 2015 2016 2017 2018 2019

XML 78 R63.htm IDEA: XBRL DOCUMENT

Note 5 - Stockholders' Equity (Details Textual)	12 Months Ended
Note 5 - Stockholders' Equity (Details Textual)	Jan. 31, 2019
Class A Common Stock to Class B Common Stock, Cash or Stock Dividends Payout Ratio	120.00%

XML 79 R64.htm IDEA: XBRL DOCUMENT

Note 5 - Stockholders' Equity - Dividends (Details) - USD ($)	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Amount	$ 5,479,000	$ 5,367,000	$ 5,301,000
Dividends Declaration Date One [Member]
Record Date	Dec. 26, 2018
Payable	Jan. 08, 2019
Amount	$ 1,374,000
Dividends Declaration Date One [Member] \| Common Class A [Member]
Dividend Per Share (in dollars per share)	$ 0.072
Dividends Declaration Date One [Member] \| Common Class B [Member]
Dividend Per Share (in dollars per share)	$ 0.06
Dividends Declaration Date Two [Member]
Record Date	Sep. 25, 2018
Payable	Oct. 02, 2018
Amount	$ 1,374,000
Dividends Declaration Date Two [Member] \| Common Class A [Member]
Dividend Per Share (in dollars per share)	$ 0.072
Dividends Declaration Date Two [Member] \| Common Class B [Member]
Dividend Per Share (in dollars per share)	$ 0.06
Dividend Declaration Date Three [Member]
Record Date	Jun. 25, 2018
Payable	Jul. 06, 2018
Amount	$ 1,372,000
Dividend Declaration Date Three [Member] \| Common Class A [Member]
Dividend Per Share (in dollars per share)	$ 0.072
Dividend Declaration Date Three [Member] \| Common Class B [Member]
Dividend Per Share (in dollars per share)	$ 0.06
Dividend Declaration Date Four [Member]
Record Date	Apr. 24, 2018
Payable	May 01, 2018
Amount	$ 1,359,000
Dividend Declaration Date Four [Member] \| Common Class A [Member]
Dividend Per Share (in dollars per share)	$ 0.072
Dividend Declaration Date Four [Member] \| Common Class B [Member]
Dividend Per Share (in dollars per share)	$ 0.06

XML 80 R65.htm IDEA: XBRL DOCUMENT

Note 6 - Stock-based Compensation (Details Textual) - USD ($)	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017	Jun. 14, 2016	Jan. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Non-employee Board Members, Maximum Grants Per Year, Value	$ 250,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	663,000	653,000	623,000		617,000
Shares Paid for Tax Withholding for Share Based Compensation	81,000	74,000	75,000
Adjustments Related to Tax Withholding for Share-based Compensation	$ 4,300,000	$ 2,400,000	$ 1,500,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 19,100,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 328 days
Stock Appreciation Rights (SARs) [Member]
Shares Paid for Tax Withholding for Share Based Compensation	104,000	31,000	25,000
Adjustments Related to Tax Withholding for Share-based Compensation	$ 4,400,000	$ 1,000,000	$ 600,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 4,300,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 328 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 12,400,000	$ 3,000,000	$ 2,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 16.99	$ 9.59	$ 5.43
Common Class A [Member] \| Karl Lopker [Member]
Number of Vested Stock Appreciation Rights Owned by Deceased Individual, Exercisable by Estate	877,500
Common Class B [Member] \| Karl Lopker [Member]
Number of Vested Stock Appreciation Rights Owned by Deceased Individual, Exercisable by Estate	127,500
Common Class A and B [Member] \| Karl Lopker [Member] \| Minimum [Member]
Vested Stock Appreciation Rights Owned by Deceased Individual, Exercisable by Estate, Exercise Price	$ 10.50
Common Class A and B [Member] \| Karl Lopker [Member] \| Maximum [Member]
Vested Stock Appreciation Rights Owned by Deceased Individual, Exercisable by Estate, Exercise Price	$ 31.65
The 2016 Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				4,000,000
The 2016 Program [Member] \| Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	3,011,000
The 2016 Program [Member] \| Common Class A [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	480,000
The 2016 Program [Member] \| Common Class B [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	183,000
The 2006 Program [Member] \| Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	8 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	427,000
The 2006 Program [Member] \| Common Class A [Member] \| Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	1,828,000
The 2006 Program [Member] \| Common Class B [Member] \| Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	278,000

XML 81 R66.htm IDEA: XBRL DOCUMENT

Note 6 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Allocated stock-based compensation expense	$ 10,122	$ 8,924	$ 7,323
Cost of Subscription [Member]
Allocated stock-based compensation expense	252	161	113
Cost of Maintenance and Other Revenue [Member]
Allocated stock-based compensation expense	497	384	299
Cost of Professional Services [Member]
Allocated stock-based compensation expense	1,219	1,085	848
Selling and Marketing Expense [Member]
Allocated stock-based compensation expense	2,111	1,510	1,200
Research and Development Expense [Member]
Allocated stock-based compensation expense	1,620	1,226	1,009
General and Administrative Expense [Member]
Allocated stock-based compensation expense	$ 4,423	$ 4,558	$ 3,854

XML 82 R67.htm IDEA: XBRL DOCUMENT

Note 6 - Stock-based Compensation - RSUs Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares
shares in Thousands

12 Months Ended

Jan. 31, 2019

Jan. 31, 2018

Jan. 31, 2017

653

623

617

Restricted stock, weighted average grant date fair value (in dollars per share)

$ 25.10

$ 20.56

$ 20.91

Granted (in shares)

300

295

307

Granted, weighted average grant date fair value (in dollars per share)

$ 51.70

$ 30.69

$ 18.54

Released (in shares)

^[1]

(263)

(245)

(259)

Released, weighted average grant date fair value (in dollars per share)

^[1]

$ 25.80

$ 20.48

$ 18.96

Forfeited (in shares)

(27)

(20)

(42)

Forfeited, weighted average grant date fair value (in dollars per share)

$ 30.63

$ 22.36

$ 20.69

Restricted stock (in shares)

663

653

623

Restricted stock, weighted average grant date fair value (in dollars per share)

$ 36.64

$ 25.10

$ 20.56

[1]

XML 83 R68.htm IDEA: XBRL DOCUMENT

Note 6 - Stock-based Compensation - Weighted Average Assumption to Value SARs (Details) - Stock Appreciation Rights (SARs) [Member]	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Expected life in years (Year)	5 years 182 days	5 years 182 days	5 years 91 days
Risk free interest rate	2.80%	1.82%	1.16%
Volatility	31.00%	33.00%	36.00%
Dividend rate	0.54%	0.91%	1.51%

XML 84 R69.htm IDEA: XBRL DOCUMENT

Note 6 - Stock-based Compensation - Options/SARs Activity (Details) - Options/SARs [Member] - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Jan. 31, 2019

Jan. 31, 2018

Jan. 31, 2017

Outstanding (in shares)

3,024

2,793

2,596

Outstanding, weighted average exercise price (in dollars per share)

$ 17.78

$ 15.51

$ 14.74

Granted (in shares)

380

Granted, weighted average exercise price (in dollars per share)

$ 53.50

$ 31.65

$ 18.64

Exercised (in shares)

(390)

(139)

(158)

Exercised, weighted average exercise price (in dollars per share)

$ 9.43

$ 10.52

$ 10.94

Expired (in shares)

(5)

(10)

(17)

Expired, weighted average exercise price (in dollars per share)

$ 9.17

$ 9.74

$ 12.56

Forfeited (in shares)

(476)

(8)

Forfeited, weighted average exercise price (in dollars per share)

$ 37.14

$ 12.09

Outstanding (in shares)

2,533

3,024

2,793

Outstanding, weighted average exercise price (in dollars per share)

$ 20.81

$ 17.78

$ 15.51

Outstanding, weighted average remaining contractual term (Year)

3 years 182 days

Outstanding, aggregate intrinsic value

$ 53,155

Vested and exercisable (in shares)

^[1]

2,058

Vested and exercisable, weighted average exercise price (in dollars per share)

$ 17.04

Vested and exercisable, weighted average remaining contractual term (Year)

2 years 328 days

Vested and exercisable, aggregate intrinsic value

$ 48,873

[1]	The number of SARs vested and exercisable at January 31, 2019 includes 877,500 Class A and 127,500 Class B shares previously held by Mr. Karl Lopker which will expire on August 25, 2019 if not exercised by his estate. Exercise prices for these SARs range from $10.50 to $31.65.

XML 85 R70.htm IDEA: XBRL DOCUMENT

Note 7 - Other Balance Sheet Accounts - Summary of Other Balance Sheet Accounts (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018
Deferred cost of revenues	$ 8,007		$ 8,330
Prepaid expenses	6,597		5,847
Capitalized commissions and sales agent fees	3,502
Accrued revenue	2,058		106
Capitalized cloud setup costs	521
Income tax receivable, net of payables	255		213
Other	1,210		1,360
	22,150	$ 19,869	15,856
Other assets, net
Long-term capitalized commissions and sales agent fees	7,520
Long-term deposits and prepaid expenses	3,061		2,463
Other intangible assets, net	1,233
Long-term capitalized cloud setup costs	934
Fair value of interest rate swap	136		187
Other long-term assets	136		405
	13,020	11,476	3,055
Trade payables	6,544		9,346
VAT payable	3,358		5,472
	9,902	14,818	14,818
Other current liabilities
Accrued commissions and bonus	15,464		18,039
Accrued compensated absences	9,130		9,177
Other accrued payroll	5,251		6,038
Accrued professional fees	2,729		1,884
Accrued travel	1,696		1,839
Accrued contract labor	1,975		2,655
Other current liabilities	4,103		3,828
	40,348	43,460	43,460
Other liabilities
Long-term deferred revenue	1,465	1,644	2,156
Accrued termination benefits	1,946		1,557
Lease restoration obligations	834		859
Long-term tax contingency reserve	282		688
Other	574		179
	$ 5,101	$ 4,928	$ 5,439

XML 86 R71.htm IDEA: XBRL DOCUMENT

Note 8 - Debt (Details Textual) - USD ($)		12 Months Ended
Note 8 - Debt (Details Textual) - USD ($)	May 30, 2012	Jan. 31, 2019
2012 Mortgage [Member] \| Quad Ortega Hill LLC [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		2.51%
2012 Mortgage [Member] \| Rabobank N.A [Member] \| Quad Ortega Hill LLC [Member]
Debt Instrument, Face Amount	$ 16,100,000
Debt Instrument, Periodic Payment, Total	88,100
Final Principal Payment	11,700,000
2012 Mortgage [Member] \| Rabobank N.A [Member] \| Quad Ortega Hill LLC [Member] \| Swap [Member]
Derivative Liability, Notional Amount	$ 16,100,000
Derivative, Fixed Interest Rate	4.31%
2012 Mortgage [Member] \| Rabobank N.A [Member] \| Quad Ortega Hill LLC [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Unsecured Credit Agreement [Member] \| Rabobank N.A [Member]
Loans Payable to Bank, Total		$ 13,400,000

XML 87 R72.htm IDEA: XBRL DOCUMENT

Note 8 - Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018
Note payable	$ 13,358		$ 13,825
Less current maturities	(487)	$ (466)	(466)
Less loan origination costs, net	(35)		(46)
Long-term debt	$ 12,836	$ 13,313	$ 13,313

XML 88 R73.htm IDEA: XBRL DOCUMENT

Note 9 - Accumulated Other Comprehensive Loss (Details Textual) $ in Thousands	12 Months Ended
	Jan. 31, 2019 USD ($)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ 0

XML 89 R74.htm IDEA: XBRL DOCUMENT

Note 9 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) $ in Thousands	12 Months Ended
	Jan. 31, 2019 USD ($)
Balance	$ 105,628
Balance	133,247
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(6,828)
Other comprehensive loss before reclassifications	(833)
Amounts reclassified from accumulated other comprehensive loss
Net current period other comprehensive loss	(833)
Balance	$ (7,661)

XML 90 R75.htm IDEA: XBRL DOCUMENT

Note 10 - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Foreign Plan [Member] \| Pension Plan [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 5.3	$ 4.4	$ 4.1
Foreign Plan [Member] \| Pension Plan [Member] \| Minimum [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	2.00%
Foreign Plan [Member] \| Pension Plan [Member] \| Maximum [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	20.00%
The 401(k) Plan [Member] \| UNITED STATES
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	75.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	4.00%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	20.00%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage Increase	20.00%
Defined Contribution Benefit Plan Employer Matching Contribution Vesting Period	5 years
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 2.2	$ 2.2	$ 2.1

XML 91 R76.htm IDEA: XBRL DOCUMENT

Note 11 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Operating Leases, Rent Expense, Total	$ 5.0	$ 4.9	$ 4.9
Contractual Obligation, Total	$ 18.9

XML 92 R77.htm IDEA: XBRL DOCUMENT

Note 11 - Commitments and Contingencies - Lease Obligations (Details) $ in Millions	Jan. 31, 2019 USD ($)
2020	$ 5.6
2021	4.6
2022	2.8
2023	1.8
2024	1.5
Thereafter	2.8
	$ 19.1

XML 93 R78.htm IDEA: XBRL DOCUMENT

Note 12 - Business Segment Information (Details Textual)	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Number of Geographic Locations	4
Number of Operating Segments	1
Geographic Concentration Risk [Member] \| North America Revenue [Member] \| CANADA
Concentration Risk, Percentage	2.00%	2.00%	2.00%

XML 94 R79.htm IDEA: XBRL DOCUMENT

Note 12 - Business Segment Information - Revenue by Region (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jan. 31, 2019

Oct. 31, 2018

Jul. 31, 2018

Apr. 30, 2018

Jan. 31, 2018

Oct. 31, 2017

Jul. 31, 2017

Apr. 30, 2017

Jan. 31, 2019

Jan. 31, 2018

Jan. 31, 2017

Feb. 01, 2018

$ 82,706

$ 79,577

$ 84,543

$ 86,190

$ 80,753

$ 76,925

$ 75,958

$ 71,382

$ 333,016

$ 305,018

$ 277,973

29,621

30,408

29,621

30,408

$ 30,408

North America [Member]

162,307

141,614

129,436

EMEA [Member]

96,989

89,693

81,765

Asia Pacific [Member]

51,628

50,689

47,742

Latin America [Member]

Reportable Geographical Components [Member] | North America [Member]

22,092

23,022

19,030

^[1]

162,307

141,614

129,436

Reportable Geographical Components [Member] | EMEA [Member]

24,735

25,546

24,735

25,546

96,989

89,693

81,765

Reportable Geographical Components [Member] | Asia Pacific [Member]

3,090

3,444

3,090

3,444

51,628

50,689

47,742

Reportable Geographical Components [Member] | Latin America [Member]

1,408

1,141

1,408

1,141

22,092

23,022

$ 19,030

$ 388

$ 277

$ 388

$ 277

[1]	Sales into Canada accounted for 2% of North America total revenue for each of the fiscal years 2019, 2018 and 2017.

XML 95 R80.htm IDEA: XBRL DOCUMENT

Note 13 - Quarterly Information (Unaudited) - Schedule of Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Total revenue	$ 82,706	$ 79,577	$ 84,543	$ 86,190	$ 80,753	$ 76,925	$ 75,958	$ 71,382	$ 333,016	$ 305,018	$ 277,973
Total costs and expenses	79,142	77,103	82,817	84,381	83,441	76,495	75,415	72,741	155,884	149,425	130,851
Gross margin	45,686	42,216	44,107	45,123	40,934	38,879	39,264	36,516	177,132	155,593	147,122
Operating income	3,564	2,474	1,726	1,809	(2,688)	430	543	(1,359)	9,573	(3,074)	3,364
Net income (loss)	$ 4,936	$ 2,982	$ 1,113	$ 1,397	$ (5,172)	$ (161)	$ (1,161)	$ (2,571)	10,428	(9,065)	(15,450)
Common Class A [Member]
Net income (loss)									$ 8,939	$ (7,762)	$ (13,211)
Basic net (loss) income per common share (in dollars per share)	$ 0.26	$ 0.16	$ 0.06	$ 0.07	$ (0.28)	$ (0.01)	$ (0.06)	$ (0.14)	$ 0.55	$ (0.49)	$ (0.84)
Diluted net (loss) income per common share (in dollars per share)	0.24	0.14	0.05	0.07	(0.28)	(0.01)	(0.06)	(0.14)	$ 0.50	$ (0.49)	$ (0.84)
Common Class B [Member]
Net income (loss)									$ 1,489	$ (1,303)	$ (2,239)
Basic net (loss) income per common share (in dollars per share)	0.22	0.13	0.05	0.06	(0.23)	(0.01)	(0.05)	(0.12)	$ 0.46	$ (0.41)	$ (0.70)
Diluted net (loss) income per common share (in dollars per share)	$ 0.21	$ 0.12	$ 0.05	$ 0.06	$ (0.23)	$ (0.01)	$ (0.05)	$ (0.12)	$ 0.44	$ (0.41)	$ (0.70)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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