The following table presents the cumulative effect of adjustments, net of income tax effects, to beginning consolidated balance sheet accounts for the new accounting standard adopted by the Company on the first day of fiscal 2019:



	April 30, 2018			Topic 606			May 1, 2018
	(in thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	52,794		$	—		$	52,794
Investments	26,121			—			26,121
Trade accounts receivable, net
Billed	18,643			—			18,643
Unbilled	3,375			440			3,815
Prepaid expenses and other current assets	6,592			126			6,718
Total current assets	107,525			566			108,091
Investments—Noncurrent	8,893			—			8,893
Property and equipment, net	3,034			—			3,034
Capitalized software, net	9,728			—			9,728
Goodwill	25,888			—			25,888
Other intangibles, net	5,120			—			5,120
Other assets	2,777			1,325			4,102
Total assets	$	162,965		$	1,891		$	164,856
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,974		$	—		$	1,974
Accrued compensation and related costs	6,310			—			6,310
Dividends payable	3,367			—			3,367
Other current liabilities	1,246			80			1,326
Deferred revenue	33,226			(521		)	32,705
Total current liabilities	46,123			(441		)	45,682
Deferred income taxes	2,615			579			3,194
Long-term deferred revenue	147			—			147
Other long-term liabilities	1,496			—			1,496
Total liabilities	50,381			138			50,519
Shareholders’ equity:
Common stock:
Class A	3,314			—			3,314
Class B	205			—			205
Additional paid-in capital	131,258			—			131,258
Retained earnings	3,366			1,753			5,119
Class A treasury stock	(25,559		)	—			(25,559		)
Total shareholders’ equity	112,584			1,753			114,337
Commitments and contingencies
Total liabilities and shareholders’ equity	$	162,965		$	1,891		$	164,856

The following table summarizes the effects of adopting Topic 606 on the Company’s condensed 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 cash equivalents	$	55,058		$	—		$	55,058
Investments	28,106			—			28,106
Trade accounts receivable, net
Billed	20,298			—			20,298
Unbilled	2,992			(339		)	2,653
Prepaid expenses and other current assets	6,184			(180		)	6,004
Total current assets	112,638			(519		)	112,119
Investments—Noncurrent	998			—			998
Property and equipment, net	3,562			—			3,562
Capitalized software, net	10,497			—			10,497
Goodwill	25,888			—			25,888
Other intangibles, net	3,328			—			3,328
Other assets	3,910			(1,303		)	2,607
Total assets	$	160,821		$	(1,822	)	$	158,999
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,789		$	—		$	1,789
Accrued compensation and related costs	2,909			—			2,909
Dividends payable	3,417			—			3,417
Other current liabilities	1,279			(80		)	1,199
Deferred revenue	32,947			267			33,214
Total current liabilities	42,341			187			42,528
Deferred income taxes	3,027			(535		)	2,492
Long-term deferred revenue	—			—			—
Other long-term liabilities	1,097			—			1,097
Total liabilities	46,465			(348		)	46,117
Shareholders’ equity:
Common stock:
Class A	3,383			—			3,383
Class B	182			—			182
Additional paid-in capital	136,522			—			136,522
Retained earnings	(172		)	(1,474		)	(1,646		)
Class A treasury stock	(25,559		)	—			(25,559		)
Total shareholders’ equity	114,356			(1,474		)	112,882
Commitments and contingencies
Total liabilities and shareholders’ equity	$	160,821		$	(1,822	)	$	158,999

The following table summarizes the effects of adopting Topic 606 on the Company’s condensed consolidated statement of operations for the three months ended January 31, 2019:



	As reported under Topic 606		Adjustments		Balances under Prior GAAP
	(in thousands, except per share amounts)
Revenues:
License	$	1,718	$	368	$	2,086
Subscription Fees	3,687		2		3,689
Professional Services and other	10,176		31		10,207
Maintenance	11,422		—		11,422
Total revenues	27,003		401		27,404
Cost of revenues:
License	1,831		—		1,831
Subscription Fees	1,389		—		1,389
Professional Services and other	7,714		—		7,714
Maintenance	2,030		—		2,030
Total cost of revenues	12,964		—		12,964
Gross margin	14,039		401		14,440
Research and development	2,811		—		2,811
Sales and marketing	4,699		41		4,740
General and administrative	4,302		—		4,302
Amortization of acquisition-related intangibles	97		—		97
Total operating expenses	11,909		41		11,950
Operating income	2,130		360		2,490
Other income:
Interest income	523		—		523
Other, net	4		—		4
Earnings before income taxes	2,657		360		3,017
Income tax expense	356		49		405
Net earnings	$	2,301	$	311	$	2,612
Earnings per common share:
Basic	$	0.07	$	0.01	$	0.08
Diluted	$	0.07	$	0.01	$	0.08

The following table summarizes the effects of adopting Topic 606 on the Company’s condensed consolidated statement of operations for the nine months ended January 31, 2019:



	As reported under Topic 606			Adjustments		Balances under Prior GAAP
	(in thousands, except per share amounts)
Revenues:
License	$	5,432		$	313	$	5,745
Subscription Fees	10,196			6		10,202
Professional Services and other	32,240			137		32,377
Maintenance	34,567			—		34,567
Total revenues	82,435			456		82,891
Cost of revenues:
License	5,305			—		5,305
Subscription Fees	3,746			—		3,746
Professional Services and other	24,484			—		24,484
Maintenance	6,442			—		6,442
Total cost of revenues	39,977			—		39,977
Gross margin	42,458			456		42,914
Research and development	9,818			—		9,818
Sales and marketing	15,183			134		15,317
General and administrative	12,903			—		12,903
Amortization of acquisition-related intangibles	291			—		291
Total operating expenses	38,195			134		38,329
Operating income	4,263			322		4,585
Other income:
Interest income	1,551			—		1,551
Other, net	(461		)	—		(461		)
Earnings before income taxes	5,353			322		5,675
Income tax expense	424			44		468
Net earnings	$	4,929		$	278	$	5,207
Earnings per common share:
Basic	$	0.16		$	0.01	$	0.17
Diluted	$	0.16		$	0.01	$	0.17

The Company’s net cash provided by operating activities for the nine months ended January 31, 2019 did not change due to the adoption of Topic 606. The following table summarizes the effects of adopting Topic 606 on the financial statement line items of the Company’s condensed consolidated statement of cash flows for the nine months ended January 31, 2019:



	As reported under Topic 606			Adjustments			Balances under Prior GAAP
				(in thousands)
Net earnings	$	4,929		$	278		$	5,207
Deferred income taxes	$	(166	)	$	44		$	(122	)
Changes in operating assets and liabilities:
Accounts receivable, net	$	(831	)	$	(101	)	$	(932	)
Prepaid expenses and other assets	$	724		$	32		$	756
Accounts payable and other liabilities	$	(4,031	)	$	—		$	(4,031	)
Deferred revenue	$	94		$	(253	)	$	(159	)