Note 10 - Deferred Revenue

12 Months Ended

May 31, 2012

Deferred Revenue Disclosure [Text Block]

10.   DEFERRED REVENUE

The additions to and recognition of deferred revenue for the year ended May 31, 2012 and May 31, 2011 were as follows:

	Successor			Predecessor
	May 31, 2012			May 31, 2011
	(in thousands)
Balance at beginning of year (Predecessor)	$	13,575		$	16,681
Revenue recognized prior to the Acquisition (Predecessor)		(936	)		-
Fair value adjustments relating to the Acquisition		(8,532	)		-
Additions to deferred revenue from new contracts		7,621			11,562
Revenue recognized during the year		(8,518	)		(15,169	)
Foreign currency translation adjustment		(173	)		501
Balance at end of year		3,037			13,575
Less: Deferred Revenue, current portion		(2,606	)		(7,495	)
Deferred Revenue	$	431		$	6,080

The reduction in the amount of deferred revenue primarily relates to the fair value adjustment made in relation to the Acquisition.