8-K 1 d8k.htm FORM 8-K Prepared by R.R. Donnelley Financial -- Form 8-K
Table of Contents
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 
 
Date of Report (Date of Earliest Event Reported):
February 1, 2002
 
 
Commission File number 000-25829
 
 
PORTAL SOFTWARE, INC.
(Exact name of Registrant as specified in its charter)
 
 
Delaware
   
77-0369737
(State or Other Jurisdiction of
Incorporation or Organization)
   
(I.R.S. employer identification no.)
 
 
10200 South DeAnza Blvd
Cupertino, California 95014
(Address of principal executive offices, including zip code)
 
 
(408) 572-2000
(Registrant’s telephone number, including area code)

Table of Contents
 
PORTAL SOFTWARE, INC.
FORM 8-K
 
INDEX
 
 
 
 

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Table of Contents
 
ITEM 5.    OTHER EVENTS
 
In July 2001, the Financial Accounting Standards Board (“FASB”) issued FAS 142 “Goodwill and Other Intangible Assets” (“FAS 142”). FAS 142 requires that goodwill and other intangible assets with indefinite useful lives be tested for impairment, at least annually, instead of being amortized. Intangible assets with finite useful lives will continue to be amortized over their estimated useful lives. Adoption of FAS 142 in its entirety is required for fiscal years beginning after December 15, 2001. Upon adoption of FAS 142 in its entirety, there are transitional provisions that are required until all periods presented, both annual and interim, are accounted for in accordance with FAS 142.
 
The following table presents the net income (loss) for all periods presented, as adjusted, to exclude the amortization of goodwill.
 
    
Years ended January 31,
  
(In thousands, except per share data):
   
2002
     
2001
     
2000
  
Net loss as reported
   
$
(395,500
)
   
$
(2,307
)
   
$
(7,620
)
Add back: Amortization of goodwill
   
 
31,127
 
   
 
14,864
 
   
 
—
 
    
  
  
Adjusted net income (loss)
   
$
(364,373
)
   
$
12,557
 
   
$
(7,620
)
    
  
  
Basic net income (loss) per share:
                           
Net loss per share as reported
   
$
(2.30
)
   
$
(0.01
)
   
$
(0.06
)
Add back: Amortization of goodwill per share
   
 
.18
 
   
 
.09
 
   
 
—
 
    
  
  
Adjusted net income (loss) per share
   
$
(2.12
)
   
$
.08
 
   
$
(0.06
)
    
  
  
Diluted net income (loss) per share:
                           
Net loss per share as reported
   
$
(2.30
)
   
$
(0.01
)
   
$
(0.06
)
Add back: Amortization of goodwill per share
   
 
.18
 
   
 
.08
 
   
 
—
 
    
  
  
Adjusted net income (loss) per share
   
$
(2.12
)
   
$
.07
 
   
$
(0.06
)
    
  
  
 
 
 
 
    
Quarters ended
April 30,
  
(In thousands, except per share data):
   
2002
     
2001
  
Net loss as reported
   
$
(12,008
)
   
$
(46,822
)
Add back: Amortization of goodwill
   
 
—
 
   
 
15,348
 
    
  
Adjusted net income (loss)
   
$
(12,008
)
   
$
(31,474
)
    
  
Basic and diluted net income (loss) per share:
                  
Net loss per share as reported
   
$
(0.07
)
   
$
(0.27
)
Add back: Amortization of goodwill per share
   
 
—
 
   
 
0.09
 
    
  
Adjusted net income (loss) per share
   
$
(0.07
)
   
$
(0.18
)
    
  

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Table of Contents
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
July 16, 2002
  
PORTAL SOFTWARE, INC.
       
By:
  
/s/    HOWARD A. BAIN III
           
Howard A. Bain III
Chief Financial Officer
(On behalf of the Registrant and as the
Principal Financial Officer)
       
By:
  
/s/    BRET L. ENGLAND
           
Bret L. England
Vice President of Finance
(Principal Accounting Officer)

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