Restructuring Charges

3 Months Ended

Jul. 31, 2016

In February 2016, the Company made the decision to suspend sales of its BV Local product, reduce its cost structure to improve operating efficiencies and align resources with its growth strategies. Costs associated with these restructuring activities include workforce reductions charges, and facilities charges related to the loss recorded on the sub-lease of excess office space at the Company's headquarters.

The Company recorded pre-tax charges of approximately $0.3 million during the three months ended July 31, 2016, consisting primarily of severance and related costs. As of April 30, 2016, the accrued liability associated with the Company's restructuring activities consisted of the following (in thousands):



	Workforce Reduction			Excess Facilities			Total
	(in thousands)
Balance at April 30, 2016	$	497		$	546		$	1,043
Restructuring charges	327			—			327
Payments	(341		)	(129		)	(470		)
Balance at July 31, 2016	483			417			900

Expenses recorded related to these restructuring activities are included in the "Restructuring charges" line item in our consolidated statement of operations. The Company expects to record additional pre-tax charges of $0.6 million related to this restructuring, including additional severance and related costs and additional anticipated losses on sub-lease related to the downsizing of the Company's San Francisco office. In August of fiscal 2017, the Company entered into an agreement with a tenant to sublet the Company's office in San Francisco. The Company anticipates the restructuring plan will be substantially complete by the end of the second quarter of fiscal 2017.