Property and Equipment

12 Months Ended

Jun. 30, 2012

I. Property and Equipment

Property and equipment consisted of the following:


	Estimated Useful Lives (Years)	June 30,
	Estimated Useful Lives (Years)	2012			2011
Computer equipment and software	2-4	$	51,372		$	47,675
Furniture and fixtures	5		7,110			6,967
Building and leasehold improvements	lesser of estimated useful life or lease term		2,313			1,837
Machinery and equipment	5		7,838			5,213
Vehicles	5		88			119

			68,721			61,811
Less: accumulated depreciation and amortization			(52,792	)		(47,291	)

		$	15,929		$	14,520

In fiscal 2012 and 2011, the Company retired $2,058 and $10,143, respectively, of fully depreciated computer equipment and software assets that were no longer in use by the Company. The retirement was part of an on-going effort by the Company to review and identify all assets that are still in use by the Company, and to retire those that are not.

Depreciation and amortization expense related to property and equipment for the fiscal years ended June 30, 2012, 2011 and 2010 was $7,859, $6,364 and $5,147, respectively.

On April 20, 2007, the Company entered into a sales agreement and a lease agreement in connection with a sale-leaseback of the Company’s headquarters in Chelmsford, Massachusetts. Pursuant to the agreements, the Company sold all land, land improvements, buildings and building improvements related to the facilities and leased back those assets. The term of the lease is ten years and includes two five year options to renew. Under the provisions of sale-leaseback accounting, the transaction was considered a normal leaseback; thus the realized gain of $11,569 was deferred and will be amortized to other income on a straight-line basis over the initial lease term.

The unamortized deferred gain consisted of the following of which the current portion is included in accrued expenses and the non-current portion is separately classified in the accompanying consolidated balance sheets:


	June 30,
	2012		2011
Current portion	$	1,157	$	1,157
Non-current portion		4,399		5,556

Total unamortized deferred gain	$	5,556	$	6,713

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details