Qad (QADA) 10-Q 8 Dec 17 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 31, 2017	Nov. 30, 2017
Document Information [Line Items]
Entity Registrant Name	QAD INC
Entity Central Index Key	1,036,188
Trading Symbol	qada
Current Fiscal Year End Date	--01-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Type	10-Q
Document Period End Date	Oct. 31, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		3,217,111
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		16,028,335

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Assets
Cash and equivalents	$ 140,027	$ 145,082
Accounts receivable, net of allowances of $1,793 and $2,205 at October 31, 2017 and January 31, 2017, respectively	50,753	69,441
Other current assets	13,641	15,351
Total current assets	204,421	229,874
Property and equipment, net	30,293	30,872
Capitalized software costs, net	956	732
Goodwill	10,820	10,558
Deferred tax assets, net	7,159	6,166
Other assets, net	1,938	2,688
Total assets	255,587	280,890
Liabilities and Stockholders’ Equity
Current portion of long-term debt	461	446
Accounts payable	10,647	11,316
Deferred revenue	83,117	104,125
Other current liabilities	33,889	33,636
Total current liabilities	128,114	149,523
Long-term debt	13,427	13,767
Other liabilities	4,817	4,914
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value. Authorized 5,000,000 shares; none issued or outstanding
Additional paid-in capital	198,391	197,594
Treasury stock, at cost (899,115 shares and 1,125,552 shares at October 31, 2017 and January 31, 2017, respectively)	(12,539)	(15,170)
Accumulated deficit	(69,041)	(61,127)
Accumulated other comprehensive loss	(7,602)	(8,631)
Total stockholders’ equity	109,229	112,686
Total liabilities and stockholders’ equity	255,587	280,890
Common Class A [Member]
Stockholders’ equity:
Common stock value	16	16
Common Class B [Member]
Stockholders’ equity:
Common stock value	$ 4	$ 4

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Accounts receivable, net of allowance	$ 1,793	$ 2,205
Treasury stock (in shares)	899,115	1,125,552
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	71,000,000	71,000,000
Common stock, shares issued (in shares)	16,605,215	16,605,215
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	4,000,000	4,000,000
Common stock, shares issued (in shares)	3,537,380	3,537,380

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Revenue:
Subscription	$ 17,190	$ 13,678	$ 49,953	$ 37,487
License	6,628	4,323	18,636	14,686
Maintenance and other	32,407	32,552	96,284	98,654
Professional services	20,700	18,981	59,392	53,882
Total revenue	76,925	69,534	224,265	204,709
Costs of revenue:
Subscription	7,605	7,145	22,753	20,085
License	690	582	2,203	2,072
Maintenance and other	7,840	7,480	23,374	22,991
Professional services	21,911	17,850	61,276	52,851
Total cost of revenue	38,046	33,057	109,606	97,999
Gross profit	38,879	36,477	114,659	106,710
Operating expenses:
Sales and marketing	17,697	15,312	52,981	49,544
Research and development	12,111	10,807	35,332	33,019
General and administrative	8,556	7,934	26,373	24,423
Amortization of intangibles from acquisitions	85	165	359	496
Total operating expenses	38,449	34,218	115,045	107,482
Operating income (loss)	430	2,259	(386)	(772)
Other (income) expense:
Interest income	(440)	(184)	(1,101)	(515)
Interest expense	195	168	508	503
Other (income) expense, net	(413)	(413)	1,399	24
Total other (income) expense	(658)	(429)	806	12
Income (loss) before income taxes	1,088	2,688	(1,192)	(784)
Income tax expense (benefit)	1,249	1,155	2,701	(493)
Net (loss) income	(161)	1,533	(3,893)	(291)
Diluted net (loss) income per share
Net (loss) income	(161)	1,533	(3,893)	(291)
Other comprehensive income, net of tax:
Foreign currency translation adjustment	(743)	(20)	1,029	341
Total comprehensive (loss) income	(904)	1,513	(2,864)	50
Common Class A [Member]
Other (income) expense:
Net (loss) income	$ (139)	$ 1,311	$ (3,332)	$ (245)
Basic net (loss) income per share
Basic net (loss) income per share (in dollars per share)	$ (0.01)	$ 0.08	$ (0.21)	$ (0.02)
Diluted net (loss) income per share
Diluted net (loss) income per share (in dollars per share)	$ (0.01)	$ 0.08	$ (0.21)	$ (0.02)
Net (loss) income	$ (139)	$ 1,311	$ (3,332)	$ (245)
Common Class B [Member]
Other (income) expense:
Net (loss) income	$ (22)	$ 222	$ (561)	$ (46)
Basic net (loss) income per share
Basic net (loss) income per share (in dollars per share)	$ (0.01)	$ 0.07	$ (0.17)	$ (0.01)
Diluted net (loss) income per share
Diluted net (loss) income per share (in dollars per share)	$ (0.01)	$ 0.07	$ (0.17)	$ (0.01)
Net (loss) income	$ (22)	$ 222	$ (561)	$ (46)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Cash flows from operating activities:
Net loss	$ (3,893)	$ (291)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	4,401	4,530
Loss on disposal of equipment	52	10
Provision for doubtful accounts and sales adjustments	675	157
Stock compensation expense	6,671	5,521
Change in fair value of derivative instrument	(103)	(31)
Changes in assets and liabilities:
Accounts receivable	19,085	26,494
Other assets	1,640	(1,692)
Accounts payable	(981)	(3,098)
Deferred revenue	(23,839)	(23,743)
Other liabilities	(864)	(2,386)
Net cash provided by operating activities	2,844	5,471
Cash flows from investing activities:
Purchase of property and equipment	(2,587)	(2,166)
Capitalized software costs	(809)	(109)
Net cash used in investing activities	(3,396)	(2,275)
Cash flows from financing activities:
Repayments of debt	(333)	(326)
Tax payments related to stock awards	(3,243)	(1,726)
Cash dividends paid	(4,021)	(3,970)
Net cash used in financing activities	(7,597)	(6,022)
Effect of exchange rates on cash and equivalents	3,094	784
Net decrease in cash and equivalents	(5,055)	(2,042)
Cash and equivalents at beginning of period	145,082	137,731
Cash and equivalents at end of period	$ 140,027	$ 135,689

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Recent Accounting Pronouncements	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS Basis of Presentation In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements fairly present the financial information contained therein. These statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10 10 X. ’s opinion, all necessary adjustments, consisting of normal, recurring and non-recurring adjustments, have been included in the accompanying Condensed Consolidated Financial Statements to present fairly the financial position and operating results of QAD Inc. (“QAD” or the “Company”). The Condensed Consolidated Financial Statements do not 10 January 31, 2017. three nine October 31, 2017 not January 31, 2018. Recent Accounting Pronouncements With the exception of those discussed below, there have been no nine October 31, 2017, In May 2014, 2014 09, Revenue from Contracts with Customers five August 2015, 2015 14, Revenue from Contracts with Customers (Topic 606 , to defer the effective date of ASU 2014 09 one 2014 09 2019. first 2019, The Company anticipates this standard will have a material impact on its consolidated financial statements. Due to the complexity of some contracts, the actual revenue recognition treatment required under the new standard for these arrangement s may third may not The Company is evaluating the impact of the standard on recognition of costs related to obtaining customer contracts, primarily with respect to sales commissions, sales bonuses and sales agent fees. The Company is anticipating it will record a material adjustment related to the accounting of costs to fulfill a contract because the commission and sales bonuses accounting under the new standard is significantly different than the Company's current policy of expensing commissions and sales bonuses upfront. The new standard will require the Company to defer direct and incremental commission costs to obtain new subscription and maintenance contracts and amortize those costs over the expected period of benefit. We are still evaluating the period of benefit but expect it to be approximately five . While the Company continues to assess the potential impacts and disclosure requirements of the new standard, the Company cannot reasonably estimate quantitative information related to the impact of the new standard on the financial statements. In February 2016, 2016 02, Leases (Topic 842 2016 02 2016 02 first 2020 2016 02 2016 02. In October 2016, 2016 16, Income Taxes: Intra-Entity Transfers of Assets Other than Inventory 2016 16 February 1, 2018. . In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 2 zero 2 February 1, 2020. not 2017 04 In January 2017, 2017 01, Business Combinations: Clarifying the Definition of a Business, February 1, 2018. 2017 01

Note 2 - Computation of Net (Lo

Note 2 - Computation of Net (Loss) Income Per Share	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	2. COMPUTATION OF NET (LOSS) INCOME PER SHARE The following table sets forth the computation of basic and diluted net (loss) income per share: Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 (in thousands, except per share data) (in thousands, except per share data) Net (loss) income $ (161 ) $ 1,533 $ (3,893 ) $ (291 ) Less: Dividends declared (1,345 ) (1,328 ) (4,021 ) (3,970 ) Undistributed net (loss) income $ (1,506 ) $ 205 $ (7,914 ) $ (4,261 ) Net (loss) income per share – Class A Common Stock Dividends declared $ 1,152 $ 1,136 $ 3,442 $ 3,393 Allocation of undistributed net (loss) income (1,291 ) 175 (6,774 ) (3,638 ) Net (loss) income attributable to Class A common stock $ (139 ) $ 1,311 $ (3,332 ) $ (245 ) Weighted average shares of Class A common stock outstanding — basic 16,011 15,773 15,913 15,687 Weighted average potential shares of Class A common stock — 829 — — Weighted average shares of Class A common stock and potential common shares outstanding — diluted 16,011 16,602 15,913 15,687 Basic net (loss) income per Class A common share $ (0.01 ) $ 0.08 $ (0.21 ) $ (0.02 ) Diluted net (loss) income per Class A common share $ (0.01 ) $ 0.08 $ (0.21 ) $ (0.02 ) Net (loss) income per share – Class B Common Stock Dividends declared $ 193 $ 192 $ 579 $ 577 Allocation of undistributed net (loss) income (215 ) 30 (1,140 ) (623 ) Net (loss) income attributable to Class B common stock $ (22 ) $ 222 $ (561 ) $ (46 ) Weighted average shares of Class B common stock outstanding — basic 3,214 3,206 3,212 3,205 Weighted average potential shares of Class B common stock — 95 — — Weighted average shares of Class B common stock and potential common shares outstanding — diluted 3,214 3,301 3,212 3,205 Basic net (loss) income per Class B common share $ (0.01 ) $ 0.07 $ (0.17 ) $ (0.01 ) Diluted net (loss) income per Class B common share $ (0.01 ) $ 0.07 $ (0.17 ) $ (0.01 ) Potential common shares consist of the shares issuable upon the release of restricted stock units (“RSUs”) and the exercise of stock options and stock appreciation rights (“SARs”). The Company ’s unvested RSUs and unexercised SARs are not not The following table sets forth the number of potential common shares not Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 (in thousands) (in thousands) Class A 3,366 1,135 3,209 2,961 Class B 378 180 384 373

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Fair Value, Measurement Inputs, Disclosure [Text Block]	3. FAIR VALUE MEASUREMENTS When determining fair value, the Company uses a three not The following table sets forth the financial assets and liabilities, measured at fair value, as of October 31, 2017 January 31, 2017: Quoted Prices in Active Markets for Identical Assets (Level 1) Signi ficant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Money market mutual funds as of October 31, 2017 (a) $ 114,859 Money market mutual funds as of January 31, 2017 (a) $ 116,043 Liability related to the interest rate swap as of October 31, 2017 (b) $ (87 ) Liability related to the interest rate swap as of January 31, 2017 (b) $ (190 ) ___________________________ (a) Money market mutual funds are recorded at fair value based upon quoted market prices. (b) The liability related to the interest rate swap is recorded at fair value based upon a valuation model that uses relevant observable market inputs at quoted intervals, such as forward yield curves. Money market mutual funds are classified as part of “Cash and equivalents” in the accompanying Condensed Consolidated Balance Sheets. The amount of cash and equivalents deposited with commercial banks was $25 $29 October 31, 2017 January 31, 2017, The Company ’s note payable bears a variable market interest rate commensurate with the Company’s credit standing. Therefore, the carrying amount outstanding under the note payable reasonably approximates fair value based on Level 2 There have been no nine October 31, 2017. Derivative Instruments The Company entered into an interest rate swap in May 2012 one 6 a liability in the Condensed Consolidated Balance Sheets and the change in fair value is reported in “Other (income) expense” in the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. The fair value of the interest rate swap is estimated as the net present value of projected cash flows based upon forward interest rates at the balance sheet date. The fair values of the derivative instrument at October 31, 2017 January 31, 2017 (Liability) Derivative Fair Value Balance Sheet Location October 31, 2017 January 31, 2017 Derivative instrument: Interest rate swap Other liabilities $ (87 ) $ (190 ) Total $ (87 ) $ (190 ) The change in fair value of the interest rate swap recognized in the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income for the nine October 31, 2017 2016 $103,000 $31,000 , respectively.

Note 4 - Capitalized Software C

Note 4 - Capitalized Software Costs	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Capitalized Software Costs [Text Block]	4. Capitalized software costs and accumulated amortization at October 31, 2017 January 31, 2017 October 31, 2017 January 31, 2017 (in thousands) Capitalized software costs: Acquired software technology $ 1,466 $ 3,458 Capitalized software development costs 1,324 748 2,790 4,206 Less accumulated amortization (1,834 ) (3,474 ) Capitalized software costs, net $ 956 $ 732 Acquired software technology costs relate to technology purchased as a result of the Company ’s fiscal 2013 It is the Company ’s policy to write off capitalized software development costs once fully amortized. Accordingly, during the first nine 2018, $2.2 Amortization of capitalized software costs was $ 0.6 $0.7 nine October 31, 2017 2016 The following table summarizes the estimated amortization expense relating to the Company ’s capitalized software costs as of October 31, 2017: Fiscal Years (in thousands) 2018 remaining $ 190 2019 347 2020 294 2021 125 $ 956

Note 5 - Goodwill and Intangibl

Note 5 - Goodwill and Intangible Assets	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill for the nine October 31, 2017 Gross Carrying Amount Accumulated Impairment Goodwill, Net (in thousands) Balance at January 31, 2017 $ 26,166 $ (15,608 ) $ 10,558 Impact of foreign currency translation 262 - 262 Balance at October 31, 2017 $ 26,428 $ (15,608 ) $ 10,820 The Company performed its annual goodwill impairment review during the fourth 2017. ’s market capitalization to its net assets as of the test date, November 30, 2016. no 2017. No nine October 31, 2017 Intangible Assets October 31, 2017 January 31, 2017 (in thousands) Amortizable intangible assets Customer relationships (1) $ 1,500 $ 2,721 Trade name 183 515 1,683 3,236 Less: accumulated amortization (1,627 ) (2,821 ) Net amortizable intangible assets $ 56 $ 415 ______________________ ( 1 Customer relationships include the impact of foreign currency translation. The Company ’s intangible assets are related to the DynaSys and CEBOS acquisitions completed in fiscal 2013. October 31, 2017, first nine 2018, $1.6 Amortization of intangible assets was $0.4 $0.5 nine October 31 2017 2016, $56,000 2018 .

Note 6 - Debt

Note 6 - Debt	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	6. DEBT October 31, 2017 January 31, 2017 (in thousands) Note payable $ 13,936 $ 14,269 Less current maturities (461 ) (446 ) Less loan origination costs, net (48 ) (56 ) Long-term debt $ 13,427 $ 13,767 Note Payable Effective May 30, 2012 by the Company, entered into a variable rate credit agreement (the “2012 2012 $16.1 one 2.25%. 1.24% October 31, 2017. 2012 June 2022 2012 $16.1 4.31% 2012 2012 $88,100 one $11.7 October 31, 2017 $13.9

Note 7 - Accumulated Other Comp

Note 7 - Accumulated Other Comprehensive Loss	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Accumulated Other Comprehensive Income (Loss) [Text Block]	7. The components of accumulated other comprehensive loss, net of taxes, were as follows: Foreign Currency Translation Adjustments (in thousands) Balance as of January 31, 2017 $ (8,631 ) Other comprehensive income before reclassifications 1,029 Amounts reclassified from accumulated other comprehensive loss — Net current period other comprehensive income 1,029 Balance as of October 31, 2017 $ (7,602 ) During the first nine 2018 no

Note 8 - Income Taxes

Note 8 - Income Taxes	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. INCOME TAXES In determining the provision for income taxes for the third 2018, 2018, third 2017, The Company recorded income tax expense of $ 1.2 third 2018 2017. increased to 115% third 2018 43% third 2018 . The Company recorded income tax expense (benefit) of $ 2.7 0.5 first nine 2018 2017, The Company’s effective tax rate was ( 227% first nine 2018 63% first nine 2018 . The gross amount of unrecognized tax benefits was $1.7 October 31, 2017, $0.9 ing required under ASU 2013 11. twelve The Company ’s policy is to recognize interest and penalties, if any, related to unrecognized tax benefits as a component of income tax expense. As of October 31, 2017, $0.2 The Company files U.S. federal, state, and foreign tax returns that are subject to audit by various tax authorities. The Company is currently under audit in: ● India for fiscal years ended March 31, 2010, 2013 2014 ● Iowa for fiscal year ended January 31, 2014 ● Kentucky for fiscal year ended January 31, 2016 ● Netherlands for fiscal year ended January 31, 2016 During fiscal 2018, ts with a small or no ● India for fiscal years ended March 31, 1998, 1999 2015 ● China for calendar years ended December 31, 2015 2016

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	9. STOCKHOLDERS’ EQUITY Dividends The following table sets forth the dividends that were declared by the Company during the first nine 2018: Declaration Date Record Date Payable Dividend Class A Dividend Class B Amount 9/12/2017 9/26/2017 10/3/2017 $ 0.072 $ 0.06 $ 1,346,000 6/13/2017 6/27/2017 7/6/2017 $ 0.072 $ 0.06 $ 1,344,000 4/11/2017 4/25/2017 5/2/2017 $ 0.072 $ 0.06 $ 1,331,000

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. STOCK-BASED COMPENSATION The Company ’s equity awards consist of RSUs and SARs. For a description of the Company’s stock-based compensation plans, see Note 5 10 January 31, 2017. Stock-Based Compensation The following table sets forth reported stock-based compensation expense for the three nine October 31, 2017 2016: Three Months Ended October 31, Nine Months Ended October 31, 2017 2016 2017 2016 (in thousands) (in thousands) Cost of subscription $ 37 $ 32 $ 98 $ 81 Cost of maintenance and other revenue 107 80 279 219 Cost of professional services 309 232 803 618 Sales and marketing 421 306 1,106 904 Research and development 338 262 895 748 General and administrative 1,099 908 3,490 2,951 Total stock-based compensation expense $ 2,311 $ 1,820 $ 6,671 $ 5,521 RSU Information The estimated fair value of RSUs was calculated based on the closing price of the Company ’s common stock on the date of grant, reduced by the present value of dividends foregone during the vesting period. The following table summarizes the activity for RSUs for the nine October 31, 2017: RSUs Weighted Average Grant Date Fair Value (in thousands) Outstanding at January 31, 2017 623 $ 20.56 Granted 294 30.68 Released (1) (245 ) 20.44 Forfeited (10 ) 20.99 Outstanding at October 31, 2017 662 $ 25.07 _________________________ ( 1 The number of RSUs released includes shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. The Company withholds a portion of the released shares as consideration for the Company ’s payment of applicable employee income taxes. During the three October 31, 2017, 2,000 $62,000. nine October 31, 2017, 74,000 $2.4 Total unrecognized compensation cost related to RSUs was approximately $14.2 October 31, 2017. 2.9 SAR Information The weighted average assumptions used to value SARs granted in the nine October 31, 2017 2016 Nine Months Ended October 31, 2017 2016 Expected life in years (1) 5.50 5.25 Risk free interest rate (2) 1.82 % 1.16 % Volatility (3) 33 % 36 % Dividend rate (4) 0.91 % 1.51 % ____________________________ ( 1 The expected life of SARs granted under the stock-based compensation plans is based on historical vested SAR exercise and post-vest forfeiture patterns and includes an estimate of the expected term for SARs that were fully vested and outstanding. ( 2 The risk-free interest rate is based on the U.S. Treasury yield for a term co nsistent with the expected life of SARs in effect at the time of grant. ( 3 The Company estimates the volatility of its common stock at the date of grant based on the historical volatility of the Company ’s common stock for a period equivalent to the expected life of the SARs, which it believes is representative of the expected volatility over the expected life of the SARs. ( 4 The Company expects to continue paying quarterly dividends at the same rate as the nine October 31, 2017. The following table summarizes the activity for outstanding SARs for the nine October 31, 2017: SARs (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at January 31, 2017 2,793 $ 15.51 Granted 380 31.65 Exercised (127 ) 10.54 Expired (10 ) 9.75 Forfeited — — Outstanding at October 31, 2017 3,036 $ 17.75 4.2 $ 56,056 Vested and exercisable at October 31, 2017 2,085 $ 14.23 3.1 $ 45,683 The aggregate intrinsic value in the table above represents the total pretax intrinsic value (the aggregate difference between the closing stock price of the Company ’s common stock based on the last trading day as of October 31, 2017, October 31, 2017. nine October 31, 2017 $2.7 nine October 31, 2017 2016 $9.59 $5.43, No three October 31, 2017 2016. The number of SARs exercised includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the three October 31, 2017, 12,000 $0.4 nine October 31, 2017, 28,000 $0.9 At October 31, 2017, $6.4 2.8

Note 11 - Deferred Revenues

Note 11 - Deferred Revenues	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Deferred Revenue Disclosure [Text Block]	11. Deferred revenues consisted of the following: October 31, 2017 January 31, 2017 (in thousands) Deferred maintenance $ 52,705 $ 78,923 Deferred subscription 25,535 20,389 Deferred professional services 3,547 2,550 Deferred license 1,035 1,740 Deferred other revenue 295 523 Deferred revenues, current 83,117 104,125 Deferred revenues, non-current (in Other liabilities) 2,326 2,353 Total deferred revenues $ 85,443 $ 106,478 Deferred maintenance and subscription represent billings and customer payments made in advance for support and subscription contracts. Support and subscription are billed in advance with corresponding revenues being recognized ratably over the support and subscription periods. Support is typically billed annually while subscription is billed quarterly or annually. Deferred license results from undelivered products or specified enhancements, customer specific acceptance provisions and software license transactions that cannot be segmented from undelivered consulting or other services. Deferred professional services revenues represent both prepayments for professional services where revenues for these services are generally recognized as the Company completes the performance obligations for the prepaid services and services already provided but deferred due to software revenue recognition rules.

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. COMMITMENTS AND CONTINGENCIES Indemnifications The Company sells software licenses and services to its customers under written agreements. Each agreement contains the relevant terms of the contractual arrangement with the customer and generally includes certain provisions for indemnifying the customer against losses, expenses and liabilities from damages that may ’s software is found to infringe upon certain intellectual property rights of a third The Company believes its internal development processes and other policies and practices limit its exposure related to the indemnification provisions of the agreements. For several reasons, including the lack of prior indemnification claims and the lack of a monetary liability limit for certain infringement cases under the agreements, the Company cannot determine the maximum amount of potential future payments, if any, related to such indemnification provisions. Legal Actions The Company is subject to various legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of business. While the outcome of these claims cannot be predicted with certainty, management does not ’s consolidated results of operations, financial position or liquidity.

Note 13 - Business Segment Info

Note 13 - Business Segment Information	9 Months Ended
	Oct. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. BUSINESS SEGMENT INFORMATION The Company markets its products and services worldwide, primarily to companies in the manufacturing industry, including automotive, consumer products, food and beverage, high technology, industrial products and life sciences industries. The Company sells and licenses its products through its direct sales force in four third ’s Chief Operating Decision Maker, the Chief Executive Officer, reviews the consolidated results within one Subscription, license and maintenance revenues are allocated to the region where the end user is located. Professional services revenue is assigned based on the region where the services are delivered. Three Months Ended October 31, Nine Months Ended October 31, 2017 2016 2017 2016 (in thousands) (in thousands) Revenue: North America (1) $ 37,319 $ 33,413 $ 105,845 $ 95,747 EMEA 21,439 19,334 64,547 58,961 Asia Pacific 12,550 11,932 37,683 35,749 Latin America 5,617 4,855 16,190 14,252 $ 76,925 $ 69,534 $ 224,265 $ 204,709 ____________________________ ( 1 Sales into Canada accounted for 2% three nine October 31, 2017 2016.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements fairly present the financial information contained therein. These statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10 10 X. ’s opinion, all necessary adjustments, consisting of normal, recurring and non-recurring adjustments, have been included in the accompanying Condensed Consolidated Financial Statements to present fairly the financial position and operating results of QAD Inc. (“QAD” or the “Company”). The Condensed Consolidated Financial Statements do not 10 January 31, 2017. three nine October 31, 2017 not January 31, 2018.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements With the exception of those discussed below, there have been no nine October 31, 2017, In May 2014, 2014 09, Revenue from Contracts with Customers five August 2015, 2015 14, Revenue from Contracts with Customers (Topic 606 , to defer the effective date of ASU 2014 09 one 2014 09 2019. first 2019, The Company anticipates this standard will have a material impact on its consolidated financial statements. Due to the complexity of some contracts, the actual revenue recognition treatment required under the new standard for these arrangement s may third may not The Company is evaluating the impact of the standard on recognition of costs related to obtaining customer contracts, primarily with respect to sales commissions, sales bonuses and sales agent fees. The Company is anticipating it will record a material adjustment related to the accounting of costs to fulfill a contract because the commission and sales bonuses accounting under the new standard is significantly different than the Company's current policy of expensing commissions and sales bonuses upfront. The new standard will require the Company to defer direct and incremental commission costs to obtain new subscription and maintenance contracts and amortize those costs over the expected period of benefit. We are still evaluating the period of benefit but expect it to be approximately five . While the Company continues to assess the potential impacts and disclosure requirements of the new standard, the Company cannot reasonably estimate quantitative information related to the impact of the new standard on the financial statements. In February 2016, 2016 02, Leases (Topic 842 2016 02 2016 02 first 2020 2016 02 2016 02. In October 2016, 2016 16, Income Taxes: Intra-Entity Transfers of Assets Other than Inventory 2016 16 February 1, 2018. . In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 2 zero 2 February 1, 2020. not 2017 04 In January 2017, 2017 01, Business Combinations: Clarifying the Definition of a Business, February 1, 2018. 2017 01

Note 2 - Computation of Net (20

Note 2 - Computation of Net (Loss) Income Per Share (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 (in thousands, except per share data) (in thousands, except per share data) Net (loss) income $ (161 ) $ 1,533 $ (3,893 ) $ (291 ) Less: Dividends declared (1,345 ) (1,328 ) (4,021 ) (3,970 ) Undistributed net (loss) income $ (1,506 ) $ 205 $ (7,914 ) $ (4,261 ) Net (loss) income per share – Class A Common Stock Dividends declared $ 1,152 $ 1,136 $ 3,442 $ 3,393 Allocation of undistributed net (loss) income (1,291 ) 175 (6,774 ) (3,638 ) Net (loss) income attributable to Class A common stock $ (139 ) $ 1,311 $ (3,332 ) $ (245 ) Weighted average shares of Class A common stock outstanding — basic 16,011 15,773 15,913 15,687 Weighted average potential shares of Class A common stock — 829 — — Weighted average shares of Class A common stock and potential common shares outstanding — diluted 16,011 16,602 15,913 15,687 Basic net (loss) income per Class A common share $ (0.01 ) $ 0.08 $ (0.21 ) $ (0.02 ) Diluted net (loss) income per Class A common share $ (0.01 ) $ 0.08 $ (0.21 ) $ (0.02 ) Net (loss) income per share – Class B Common Stock Dividends declared $ 193 $ 192 $ 579 $ 577 Allocation of undistributed net (loss) income (215 ) 30 (1,140 ) (623 ) Net (loss) income attributable to Class B common stock $ (22 ) $ 222 $ (561 ) $ (46 ) Weighted average shares of Class B common stock outstanding — basic 3,214 3,206 3,212 3,205 Weighted average potential shares of Class B common stock — 95 — — Weighted average shares of Class B common stock and potential common shares outstanding — diluted 3,214 3,301 3,212 3,205 Basic net (loss) income per Class B common share $ (0.01 ) $ 0.07 $ (0.17 ) $ (0.01 ) Diluted net (loss) income per Class B common share $ (0.01 ) $ 0.07 $ (0.17 ) $ (0.01 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 (in thousands) (in thousands) Class A 3,366 1,135 3,209 2,961 Class B 378 180 384 373

Note 3 - Fair Value Measureme21

Note 3 - Fair Value Measurements (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Quoted Prices in Active Markets for Identical Assets (Level 1) Signi ficant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Money market mutual funds as of October 31, 2017 (a) $ 114,859 Money market mutual funds as of January 31, 2017 (a) $ 116,043 Liability related to the interest rate swap as of October 31, 2017 (b) $ (87 ) Liability related to the interest rate swap as of January 31, 2017 (b) $ (190 )
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	(Liability) Derivative Fair Value Balance Sheet Location October 31, 2017 January 31, 2017 Derivative instrument: Interest rate swap Other liabilities $ (87 ) $ (190 ) Total $ (87 ) $ (190 )

Note 4 - Capitalized Software22

Note 4 - Capitalized Software Costs (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Schedule of Capitalized Software Costs [Table Text Block]	October 31, 2017 January 31, 2017 (in thousands) Capitalized software costs: Acquired software technology $ 1,466 $ 3,458 Capitalized software development costs 1,324 748 2,790 4,206 Less accumulated amortization (1,834 ) (3,474 ) Capitalized software costs, net $ 956 $ 732
Schedule of Capitalized Software Costs Amortization Expense [Table Text Block]	Fiscal Years (in thousands) 2018 remaining $ 190 2019 347 2020 294 2021 125 $ 956

Note 5 - Goodwill and Intangi23

Note 5 - Goodwill and Intangible Assets (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Schedule of Goodwill [Table Text Block]	Gross Carrying Amount Accumulated Impairment Goodwill, Net (in thousands) Balance at January 31, 2017 $ 26,166 $ (15,608 ) $ 10,558 Impact of foreign currency translation 262 - 262 Balance at October 31, 2017 $ 26,428 $ (15,608 ) $ 10,820
Schedule of Finite-Lived Intangible Assets [Table Text Block]	October 31, 2017 January 31, 2017 (in thousands) Amortizable intangible assets Customer relationships (1) $ 1,500 $ 2,721 Trade name 183 515 1,683 3,236 Less: accumulated amortization (1,627 ) (2,821 ) Net amortizable intangible assets $ 56 $ 415

Note 6 - Debt (Tables)

Note 6 - Debt (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Schedule of Debt [Table Text Block]	October 31, 2017 January 31, 2017 (in thousands) Note payable $ 13,936 $ 14,269 Less current maturities (461 ) (446 ) Less loan origination costs, net (48 ) (56 ) Long-term debt $ 13,427 $ 13,767

Note 7 - Accumulated Other Co25

Note 7 - Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Foreign Currency Translation Adjustments (in thousands) Balance as of January 31, 2017 $ (8,631 ) Other comprehensive income before reclassifications 1,029 Amounts reclassified from accumulated other comprehensive loss — Net current period other comprehensive income 1,029 Balance as of October 31, 2017 $ (7,602 )

Note 9 - Stockholders' Equity (

Note 9 - Stockholders' Equity (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Dividends Declared [Table Text Block]	Declaration Date Record Date Payable Dividend Class A Dividend Class B Amount 9/12/2017 9/26/2017 10/3/2017 $ 0.072 $ 0.06 $ 1,346,000 6/13/2017 6/27/2017 7/6/2017 $ 0.072 $ 0.06 $ 1,344,000 4/11/2017 4/25/2017 5/2/2017 $ 0.072 $ 0.06 $ 1,331,000

Note 10 - Stock-based Compens27

Note 10 - Stock-based Compensation (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended October 31, Nine Months Ended October 31, 2017 2016 2017 2016 (in thousands) (in thousands) Cost of subscription $ 37 $ 32 $ 98 $ 81 Cost of maintenance and other revenue 107 80 279 219 Cost of professional services 309 232 803 618 Sales and marketing 421 306 1,106 904 Research and development 338 262 895 748 General and administrative 1,099 908 3,490 2,951 Total stock-based compensation expense $ 2,311 $ 1,820 $ 6,671 $ 5,521
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	RSUs Weighted Average Grant Date Fair Value (in thousands) Outstanding at January 31, 2017 623 $ 20.56 Granted 294 30.68 Released (1) (245 ) 20.44 Forfeited (10 ) 20.99 Outstanding at October 31, 2017 662 $ 25.07
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Nine Months Ended October 31, 2017 2016 Expected life in years (1) 5.50 5.25 Risk free interest rate (2) 1.82 % 1.16 % Volatility (3) 33 % 36 % Dividend rate (4) 0.91 % 1.51 %
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block]	SARs (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at January 31, 2017 2,793 $ 15.51 Granted 380 31.65 Exercised (127 ) 10.54 Expired (10 ) 9.75 Forfeited — — Outstanding at October 31, 2017 3,036 $ 17.75 4.2 $ 56,056 Vested and exercisable at October 31, 2017 2,085 $ 14.23 3.1 $ 45,683

Note 11 - Deferred Revenues (Ta

Note 11 - Deferred Revenues (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]	October 31, 2017 January 31, 2017 (in thousands) Deferred maintenance $ 52,705 $ 78,923 Deferred subscription 25,535 20,389 Deferred professional services 3,547 2,550 Deferred license 1,035 1,740 Deferred other revenue 295 523 Deferred revenues, current 83,117 104,125 Deferred revenues, non-current (in Other liabilities) 2,326 2,353 Total deferred revenues $ 85,443 $ 106,478

Note 13 - Business Segment In29

Note 13 - Business Segment Information (Tables)	9 Months Ended
	Oct. 31, 2017
Notes Tables
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	Three Months Ended October 31, Nine Months Ended October 31, 2017 2016 2017 2016 (in thousands) (in thousands) Revenue: North America (1) $ 37,319 $ 33,413 $ 105,845 $ 95,747 EMEA 21,439 19,334 64,547 58,961 Asia Pacific 12,550 11,932 37,683 35,749 Latin America 5,617 4,855 16,190 14,252 $ 76,925 $ 69,534 $ 224,265 $ 204,709

Note 1 - Basis of Presentatio30

Note 1 - Basis of Presentation and Recent Accounting Pronouncements (Details Textual)	9 Months Ended
	Oct. 31, 2017
Minimum [Member]
Deferred Costs of Contracts, Expected Amortization Period	5 years

Note 2 - Computation of Net (31

Note 2 - Computation of Net (Loss) Income Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Net (loss) income	$ (161)	$ 1,533	$ (3,893)	$ (291)
Dividends declared	(1,345)	(1,328)	(4,021)	(3,970)
Undistributed net (loss) income	(1,506)	205	(7,914)	(4,261)
Net (loss) income per share
Dividends declared	1,345	1,328	4,021	3,970
Undistributed net (loss) income	(1,506)	205	(7,914)	(4,261)
Net (loss) income	(161)	1,533	(3,893)	(291)
Common Class A [Member]
Net (loss) income	(139)	1,311	(3,332)	(245)
Dividends declared	(1,152)	(1,136)	(3,442)	(3,393)
Undistributed net (loss) income	(1,291)	175	(6,774)	(3,638)
Net (loss) income per share
Dividends declared	1,152	1,136	3,442	3,393
Undistributed net (loss) income	(1,291)	175	(6,774)	(3,638)
Net (loss) income	$ (139)	$ 1,311	$ (3,332)	$ (245)
Weighted average shares of common stock outstanding—basic (in shares)	16,011	15,773	15,913	15,687
Weighted average potential shares of common stock (in shares)		829
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares)	16,011	16,602	15,913	15,687
Basic net (loss) income per common share (in dollars per share)	$ (0.01)	$ 0.08	$ (0.21)	$ (0.02)
Diluted net (loss) income per common share (in dollars per share)	$ (0.01)	$ 0.08	$ (0.21)	$ (0.02)
Common Class B [Member]
Net (loss) income	$ (22)	$ 222	$ (561)	$ (46)
Dividends declared	(193)	(192)	(579)	(577)
Undistributed net (loss) income	(215)	30	(1,140)	(623)
Net (loss) income per share
Dividends declared	193	192	579	577
Undistributed net (loss) income	(215)	30	(1,140)	(623)
Net (loss) income	$ (22)	$ 222	$ (561)	$ (46)
Weighted average shares of common stock outstanding—basic (in shares)	3,214	3,206	3,212	3,205
Weighted average potential shares of common stock (in shares)		95
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares)	3,214	3,301	3,212	3,205
Basic net (loss) income per common share (in dollars per share)	$ (0.01)	$ 0.07	$ (0.17)	$ (0.01)
Diluted net (loss) income per common share (in dollars per share)	$ (0.01)	$ 0.07	$ (0.17)	$ (0.01)

Note 2 - Computation of Net (32

Note 2 - Computation of Net (Loss) Income Per Share - Anti-dilutive Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Common Class A [Member]
Antidilutive securities excluded from computation of net income per share (in shares)	3,366	1,135	3,209	2,961
Common Class B [Member]
Antidilutive securities excluded from computation of net income per share (in shares)	378	180	384	373

Note 3 - Fair Value Measureme33

Note 3 - Fair Value Measurements (Details Textual) - USD ($)	9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Cash and Cash Equivalents, at Carrying Value	$ 140,027,000	$ 135,689,000	$ 145,082,000	$ 137,731,000
Interest Rate Swap [Member]
Derivative, Gain (Loss) on Derivative, Net	(103,000)	$ (31,000)
Reported Value Measurement [Member]
Cash and Cash Equivalents, at Carrying Value	$ 25,000,000		$ 29,000,000

Note 3 - Fair Value Measureme34

Note 3 - Fair Value Measurements - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands		Oct. 31, 2017	Jan. 31, 2017
Liability related to the interest rate swap		$ (87)	$ (190)
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Money market mutual funds	[1]	114,859	116,043
Liability related to the interest rate swap	[2]
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Money market mutual funds	[1]
Liability related to the interest rate swap	[2]	$ (87)	$ (190)
[1]	Money market mutual funds are recorded at fair value based upon quoted market prices.
[2]	The liability related to the interest rate swap is recorded at fair value based upon a valuation model that uses relevant observable market inputs at quoted intervals, such as forward yield curves.

Note 3 - Fair Value Measureme35

Note 3 - Fair Value Measurements - Fair Values of the Derivative Instrument (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Derivative instrument:
Fair value of derivative instrument	$ (87)	$ (190)
Interest Rate Swap [Member] | Other Liabilities [Member]
Derivative instrument:
Fair value of derivative instrument	$ (87)	$ (190)

Note 4 - Capitalized Software36

Note 4 - Capitalized Software Costs (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Capitalized Computer Software Write-Downs	$ 2.2
Capitalized Computer Software, Amortization	$ 0.6	$ 0.7

Note 4 - Capitalized Software37

Note 4 - Capitalized Software Costs - Capitalized Software Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Capitalized software costs:
Acquired software technology	$ 1,466	$ 3,458
Capitalized software development costs	1,324	748
Total capitalized software costs	2,790	4,206
Less accumulated amortization	(1,834)	(3,474)
Capitalized software costs, net	$ 956	$ 732

Note 4 - Capitalized Software38

Note 4 - Capitalized Software Costs - Estimated Amortization Expense (Details) - USD ($)	Oct. 31, 2017	Jan. 31, 2017
2018 remaining	$ 56,000
Total	56,000	$ 415,000
Computer Software, Intangible Asset [Member]
2018 remaining	190,000
2,019	347,000
2,020	294,000
2,021	125,000
Total	$ 956,000

Note 5 - Goodwill and Intangi39

Note 5 - Goodwill and Intangible Assets (Details Textual) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016	Jan. 31, 2017
Goodwill, Impairment Loss					$ 0
Write off of Amortizable Intangible Assets			$ 1,600,000
Amortization of Intangible Assets	$ 85,000	$ 165,000	359,000	$ 496,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 56,000		$ 56,000

Note 5 - Goodwill and Intangi40

Note 5 - Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	9 Months Ended
	Oct. 31, 2017USD ($)
Beginning balance, gross	$ 26,166
Impact of foreign currency translation, gross	262
Ending balance, gross	26,428
Accumulated impairment	(15,608)
Impact of foreign currency translation, accumulated impairment
Accumulated impairment	(15,608)
Beginning balance, net	10,558
Impact of foreign currency translation, net	262
Ending balance, net	$ 10,820

Note 5 - Goodwill and Intangi41

Note 5 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands		Oct. 31, 2017	Jan. 31, 2017
Amortizable intangible assets
Amortizable intangible assets, gross		$ 1,683	$ 3,236
Less: accumulated amortization		(1,627)	(2,821)
Total		56	415
Customer Relationships [Member]
Amortizable intangible assets
Amortizable intangible assets, gross	[1]	1,500	2,721
Trade Names [Member]
Amortizable intangible assets
Amortizable intangible assets, gross		$ 183	$ 515
[1]	Customer relationships include the impact of foreign currency translation.

Note 6 - Debt (Details Textual)

Note 6 - Debt (Details Textual) - USD ($)	May 30, 2012	Oct. 31, 2017
2012 Mortgage [Member] | Quad Ortega Hill LLC [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.24%
2012 Mortgage [Member] | Rabobank N.A [Member] | Quad Ortega Hill LLC [Member]
Debt Instrument, Face Amount	$ 16,100,000
Debt Instrument, Periodic Payment	88,100
Final Principal Payment	11,700,000
2012 Mortgage [Member] | Rabobank N.A [Member] | Quad Ortega Hill LLC [Member] | Swap [Member]
Derivative Liability, Notional Amount	$ 16,100,000
Derivative, Fixed Interest Rate	4.31%
2012 Mortgage [Member] | Rabobank N.A [Member] | Quad Ortega Hill LLC [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Unsecured Credit Agreement [Member] | Rabobank N.A [Member]
Loans Payable to Bank		$ 13,900,000

Note 6 - Debt - Summary of Debt

Note 6 - Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Note payable	$ 13,936	$ 14,269
Less current maturities	(461)	(446)
Less loan origination costs, net	(48)	(56)
Long-term debt	$ 13,427	$ 13,767

Note 7 - Accumulated Other Co44

Note 7 - Accumulated Other Comprehensive Loss (Details Textual) $ in Thousands	9 Months Ended
	Oct. 31, 2017USD ($)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ 0

Note 7 - Accumulated Other Co45

Note 7 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) $ in Thousands	9 Months Ended
	Oct. 31, 2017USD ($)
Balance	$ 112,686
Balance	109,229
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(8,631)
Other comprehensive income before reclassifications	1,029
Amounts reclassified from accumulated other comprehensive loss
Net current period other comprehensive income	1,029
Balance	$ (7,602)

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Income Tax Expense (Benefit)	$ 1,249	$ 1,155	$ 2,701	$ (493)
Effective Income Tax Rate Reconciliation, Percent	115.00%	43.00%	(227.00%)	63.00%
Unrecognized Tax Benefits	$ 1,700		$ 1,700
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 200		$ 200

Note 9 - Stockholders' Equity -

Note 9 - Stockholders' Equity - Dividends (Details)	9 Months Ended
	Oct. 31, 2017USD ($)$ / shares
Dividends Declaration Date One [Member]
Record Date	Sep. 26, 2017
Payable	Oct. 3, 2017
Amount | $	$ 1,346,000
Dividends Declaration Date One [Member] | Common Class A [Member]
Dividend Per Share (in dollars per share)	$ 0.072
Dividends Declaration Date One [Member] | Common Class B [Member]
Dividend Per Share (in dollars per share)	$ 0.06
Dividends Declaration Date Two [Member]
Record Date	Jun. 27, 2017
Payable	Jul. 6, 2017
Amount | $	$ 1,344,000
Dividends Declaration Date Two [Member] | Common Class A [Member]
Dividend Per Share (in dollars per share)	$ 0.072
Dividends Declaration Date Two [Member] | Common Class B [Member]
Dividend Per Share (in dollars per share)	$ 0.06
Dividend Declaration Date Three [Member]
Record Date	Apr. 25, 2017
Payable	May 2, 2017
Amount | $	$ 1,331,000
Dividend Declaration Date Three [Member] | Common Class A [Member]
Dividend Per Share (in dollars per share)	$ 0.072
Dividend Declaration Date Three [Member] | Common Class B [Member]
Dividend Per Share (in dollars per share)	$ 0.06

Note 10 - Stock-based Compens48

Note 10 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Oct. 31, 2017	Oct. 31, 2017	Oct. 31, 2016
Restricted Stock Units (RSUs) [Member]
Shares Paid for Tax Withholding for Share Based Compensation	2,000	74,000
Adjustments Related to Tax Withholding for Share-based Compensation	$ 62,000	$ 2,400,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 14,200,000	$ 14,200,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 years 328 days
Stock Appreciation Rights (SARs) [Member]
Shares Paid for Tax Withholding for Share Based Compensation	12,000	28,000
Adjustments Related to Tax Withholding for Share-based Compensation	$ 400,000	$ 900,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 6,400,000	$ 6,400,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 years 292 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value		$ 2,700,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 0	$ 9.59	$ 5.43

Note 10 - Stock-based Compens49

Note 10 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Allocated stock-based compensation expense	$ 2,311	$ 1,820	$ 6,671	$ 5,521
Cost of Subscription [Member]
Allocated stock-based compensation expense	37	32	98	81
Cost of Maintenance and Other Revenue [Member]
Allocated stock-based compensation expense	107	80	279	219
Cost of Professional Services [Member]
Allocated stock-based compensation expense	309	232	803	618
Selling and Marketing Expense [Member]
Allocated stock-based compensation expense	421	306	1,106	904
Research and Development Expense [Member]
Allocated stock-based compensation expense	338	262	895	748
General and Administrative Expense [Member]
Allocated stock-based compensation expense	$ 1,099	$ 908	$ 3,490	$ 2,951

Note 10 - Stock-based Compens50

Note 10 - Stock-based Compensation - RSUs Activity (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands	9 Months Ended
	Oct. 31, 2017$ / sharesshares
Outstanding at January 31, 2017 (in shares) | shares	623
Outstanding at January 31, 2017 (in dollars per share) | $ / shares	$ 20.56
Granted (in shares) | shares	294
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 30.68
Released (in shares) | shares	(245)	[1]
Released, weighted average grant date fair value (in dollars per share) | $ / shares	$ 20.44	[1]
Forfeited (in shares) | shares	(10)
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	$ 20.99
Outstanding at October 31, 2017 (in shares) | shares	662
Outstanding at October 31, 2017 (in dollars per share) | $ / shares	$ 25.07
[1]	The number of RSUs released includes shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements.

Note 10 - Stock-based Compens51

Note 10 - Stock-based Compensation - Weighted Average Assumption to Value SARs (Details) - Stock Appreciation Rights (SARs) [Member]		9 Months Ended
		Oct. 31, 2017	Oct. 31, 2016
Expected life in years (1) (Year)	[1]	5 years 182 days	5 years 91 days
Risk free interest rate (2)	[2]	1.82%	1.16%
Volatility (3)	[3]	33.00%	36.00%
Dividend rate (4)	[4]	0.91%	1.51%
[1]	The expected life of SARs granted under the stock-based compensation plans is based on historical vested SAR exercise and post-vest forfeiture patterns and includes an estimate of the expected term for SARs that were fully vested and outstanding.
[2]	The risk-free interest rate is based on the U.S. Treasury yield for a term consistent with the expected life of SARs in effect at the time of grant.
[3]	The Company estimates the volatility of its common stock at the date of grant based on the historical volatility of the Company's common stock for a period equivalent to the expected life of the SARs, which it believes is representative of the expected volatility over the expected life of the SARs.
[4]	The Company expects to continue paying quarterly dividends at the same rate as the nine months ending on October 31, 2017.

Note 10 - Stock-based Compens52

Note 10 - Stock-based Compensation - Options/SARs Activity (Details) - Options/SARs [Member] $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Oct. 31, 2017USD ($)$ / sharesshares
Outstanding (in shares) | shares	2,793
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 15.51
Granted (in shares) | shares	380
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 31.65
Exercised (in shares) | shares	(127)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 10.54
Expired (in shares) | shares	(10)
Expired, weighted average exercise price (in dollars per share) | $ / shares	$ 9.75
Forfeited (in shares) | shares
Forfeited, weighted average exercise price (in dollars per share) | $ / shares
Outstanding (in shares) | shares	3,036
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 17.75
Outstanding at October 31, 2017 (Year)	4 years 73 days
Outstanding at October 31, 2017 | $	$ 56,056
Vested and exercisable (in shares) | shares	2,085
Vested and exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 14.23
Vested and exercisable, weighted average remaining contractual term (Year)	3 years 36 days
Vested and exercisable, aggregate intrinsic value | $	$ 45,683

Note 11 - Deferred Revenues - S

Note 11 - Deferred Revenues - Summary of Deferred Revenues (Details) - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Deferred revenue	$ 83,117	$ 104,125
Deferred revenues, non-current (in Other liabilities)	2,326	2,353
Total deferred revenues	85,443	106,478
Software Service, Support and Maintenance Arrangement [Member]
Deferred revenue	52,705	78,923
Subscription Arrangement [Member]
Deferred revenue	25,535	20,389
Nonsoftware Service, Support and Maintenance Arrangement [Member]
Deferred revenue	3,547	2,550
Software License Arrangement [Member]
Deferred revenue	1,035	1,740
Deferred Other Revenue [Member]
Deferred revenue	$ 295	$ 523

Note 13 - Business Segment In54

Note 13 - Business Segment Information (Details Textual)	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Number of Geographic Locations			4
Number of Operating Segments			1
Geographic Concentration Risk [Member] | North America Revenue [Member] | CANADA
Concentration Risk, Percentage	2.00%	2.00%	2.00%	2.00%

Note 13 - Business Segment In55

Note 13 - Business Segment Information - Revenue by Region (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Revenue		$ 76,925	$ 69,534	$ 224,265	$ 204,709
Reportable Geographical Components [Member] | North America [Member]
Revenue	[1]	37,319	33,413	105,845	95,747
Reportable Geographical Components [Member] | EMEA [Member]
Revenue		21,439	19,334	64,547	58,961
Reportable Geographical Components [Member] | Asia Pacific [Member]
Revenue		12,550	11,932	37,683	35,749
Reportable Geographical Components [Member] | Latin America [Member]
Revenue		$ 5,617	$ 4,855	$ 16,190	$ 14,252
[1]	Sales into Canada accounted for 1% of North America total revenue in the three and nine months ended October 31, 2017 and for 2% of North America total revenue in the three and nine months ended October 31, 2016.