Qad (QADA) 10-Q 11 Jun 18 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Apr. 30, 2018	May 31, 2018
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	Apr. 30, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		16,172,193
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		3,263,231

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018
Assets
Cash and equivalents	$ 144,389	$ 147,023
Accounts receivable, net of allowances of $1,902 and $1,763 at April 30, 2018 and January 31, 2018, respectively	56,909	83,518
Other current assets	23,538	15,856
Total current assets	224,836	246,397
Property and equipment, net	30,184	30,408
Capitalized software costs, net	1,050	990
Goodwill	10,974	11,023
Deferred tax assets, net	13,057	7,944
Other assets, net	11,147	3,055
Total assets	291,248	299,817
Liabilities and Stockholders’ Equity
Current portion of long-term debt	471	466
Accounts payable	9,192	14,818
Deferred revenue	103,369	116,693
Other current liabilities	34,830	43,460
Total current liabilities	147,862	175,437
Long-term debt	13,194	13,313
Other liabilities	4,883	5,439
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value. Authorized shares; none issued or outstanding
Additional paid-in capital	196,058	200,456
Treasury stock, at cost (718,323 shares and 892,700 shares at April 30, 2018 and January 31, 2018, respectively)	(10,035)	(12,461)
Accumulated deficit	(53,396)	(75,559)
Accumulated other comprehensive loss	(7,338)	(6,828)
Total stockholders’ equity	125,309	105,628
Total liabilities and stockholders’ equity	291,248	299,817
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	Apr. 30, 2018	Jan. 31, 2018
Accounts receivable, net of allowance	$ 1,902	$ 1,763
Treasury stock (in shares)	718,323	892,700
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 Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Revenue:
Revenues	$ 86,190	$ 71,382
Costs of revenue:
Costs of revenues	41,067	34,866
Gross profit	45,123	36,516
Operating expenses:
Sales and marketing	19,946	17,587
Research and development	14,006	11,532
General and administrative	9,362	8,593
Amortization of intangibles from acquisitions		163
Total operating expenses	43,314	37,875
Operating income (loss)	1,809	(1,359)
Other (income) expense:
Interest income	(524)	(168)
Interest expense	157	156
Other (income) expense, net	(404)	604
Total other (income) expense, net	(771)	592
Income (loss) before income taxes	2,580	(1,951)
Income tax expense	1,183	620
Net income (loss)	1,397	(2,571)
Diluted net income (loss) per share
Net income (loss)	1,397	(2,571)
Other comprehensive income, net of tax:
Foreign currency translation adjustments	(510)	640
Total comprehensive income (loss)	887	(1,931)
Common Class A [Member]
Other (income) expense:
Net income (loss)	$ 1,196	$ (2,199)
Basic net income (loss) per share
Basic net (loss) income per share (in dollars per share)	$ 0.07	$ (0.14)
Diluted net income (loss) per share
Diluted net (loss) income per share (in dollars per share)	$ 0.07	$ (0.14)
Net income (loss)	$ 1,196	$ (2,199)
Common Class B [Member]
Other (income) expense:
Net income (loss)	$ 201	$ (372)
Basic net income (loss) per share
Basic net (loss) income per share (in dollars per share)	$ 0.06	$ (0.12)
Diluted net income (loss) per share
Diluted net (loss) income per share (in dollars per share)	$ 0.06	$ (0.12)
Net income (loss)	$ 201	$ (372)
Subscription and Circulation [Member]
Revenue:
Revenues	21,511	15,343
Costs of revenue:
Costs of revenues	8,228	7,720
License [Member]
Revenue:
Revenues	6,266	5,265
Costs of revenue:
Costs of revenues	664	685
Maintenance [Member]
Revenue:
Revenues	31,483	31,906
Costs of revenue:
Costs of revenues	7,865	7,694
Professional Services [Member]
Revenue:
Revenues	26,930	18,868
Costs of revenue:
Costs of revenues	$ 24,310	$ 18,767

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Cash flows from operating activities:
Net income (loss)	$ 1,397	$ (2,571)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	1,362	1,522
Amortization of deferred costs	1,004
Provision for doubtful accounts	270	113
Net change in valuation allowance	1,416	1,107
Other deferred income taxes	1,053	(1,389)
Stock-based compensation expense	2,106	1,768
Change in fair value of interest rate swap	(117)	(13)
Changes in assets and liabilities:
Accounts receivable	25,543	23,250
Other assets	(4,454)	171
Accounts payable	(5,459)	(3,279)
Deferred revenue	(11,020)	(7,623)
Other liabilities	(9,316)	(5,174)
Net cash provided by operating activities	3,785	7,882
Cash flows from investing activities:
Purchase of property and equipment	(1,093)	(652)
Capitalized software costs	(179)	(143)
Net cash used in investing activities	(1,272)	(795)
Cash flows from financing activities:
Repayments of debt	(117)	(129)
Tax payments, net of proceeds, related to stock awards	(4,078)	(170)
Net cash used in financing activities	(4,195)	(299)
Effect of exchange rates on cash and equivalents	(952)	1,478
Net (decrease) increase in cash and equivalents	(2,634)	8,266
Cash and equivalents at beginning of period	147,023	145,082
Cash and equivalents at end of period	144,389	153,348
Supplemental disclosure of non-cash activities:
Obligations associated with dividend declaration	1,359	1,331
Interest	154	149
Income taxes, net of refunds	$ 799	$ 656

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Recent Accounting Pronouncements	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. 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 in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 10 X. not 10 January 31, 2018. three April 30, 2018 not January 31, 2019. The Company’s accounting policies are set forth in detail in Note 1 10 January 31, 2018 Effective February 1, 2018 No. 2014 09, Revenue from Contracts with Customers 606” 2 2 10 Certain prior year amounts have been reclassified for consistency with the current year presentation. Adjustments were made to the operating activities section of the Condensed Consolidated Statements of Cash Flows. These reclassifications had no no Recent Accounting Pronouncements With the exception of those discussed below, there have been no three April 30, 2018, Recent Accounting Pronouncements Adopted In October 2016, 2016 16, Intra-Entity Transfers of Assets Other Than Inventory December 15, 2017 2016 16 February 1, 2018 $9.6 In August 2016, 2016 15, Statement of Cash Flows (Topic 230 December 15, 2017 2016 15 February 1, 2018 no In May 2014, 2014 09, Revenue from Contracts with Customers 606 Revenue Recognition 605 985 605 Software - Revenue Recognition 605 985 605 605” 606, 606 The Company adopted Topic 606 first 2019 2019 606. not not 606 606. The most significant impacts of the adoption of Topic 606 ● Removal of vendor specific objective evidence (“VSOE”) under prior GAAP resulted in earlier recognition of license and services revenues in those instances where the Company sold a multi-element deal where services did not $2.0 ● Removal of the limitation on contingent revenue resulted in revenue being recognized earlier for certain contracts. At adoption, QAD decreased accumulated deficit and increased contract assets by $0.8 ● Contracts containing a future option to the customer represented a material right which resulted in deferral of revenue. At adoption, QAD increased accumulated deficit and deferred revenue by $0.3 ● Commission expenses related to new cloud and maintenance contracts are no five $9.1 ● Sales agent fees to obtain new cloud and maintenance contracts are no five $1.0 ● Cloud environment setup costs incurred to fulfill new cloud customer contracts are no five $1.5 The tax impact of the above adjustments was assessed and, at adoption, QAD increased accumulated deficit and decreased net deferred tax assets by $1.6 Adjustments to beginning consolidated balance sheet accounts The following table presents the cumulative effect adjustments, net of income tax effects, to beginning consolidated balance sheet accounts for the new accounting standards adopted by the Company on the first 2019: Jan. 31, 2018 Topic 606 ASU2016-16 (1) Feb. 1, 2018 (in thousands) Assets Current assets: Cash and equivalents $ 147,023 $ - $ - $ 147,023 Accounts receivable, net 83,518 - - 83,518 Other current assets 15,856 4,013 - 19,869 Total current assets 246,397 4,013 - 250,410 Property and equipment, net 30,408 - - 30,408 Capitalized software costs, net 990 - - 990 Goodwill 11,023 - - 11,023 Deferred tax assets, net 7,944 (1,643 ) 9,584 15,885 Other assets, net 3,055 8,421 - 11,476 Total assets $ 299,817 $ 10,791 $ 9,584 $ 320,192 Liabilities and stockholders’ equity Current portion of long-term debt $ 466 $ - $ - $ 466 Accounts payable 14,818 - - 14,818 Deferred revenue 116,693 (1,239 ) - 115,454 Other current liabilities 43,460 - - 43,460 Total current liabilities 175,437 (1,239 ) - 174,198 Long-term debt 13,313 - - 13,313 Other liabilities 5,439 (511 ) - 4,928 Stockholders’ equity Common stock - Class A 16 - - 16 Common stock - Class B 4 - - 4 Additional paid-in capital 200,456 - - 200,456 Treasury stock (12,461 ) - - (12,461 ) Accumulated deficit (75,559 ) 12,541 9,584 (53,434 ) Accumulated other comprehensive loss (6,828 ) - - (6,828 ) Total stockholders’ equity 105,628 12,541 9,584 127,753 Total liabilities and stockholders’ equity $ 299,817 $ 10,791 $ 9,584 $ 320,192 ( 1 For further information about the adoption of Income taxes (Topic 740 9 The following table summarizes the effects of adopting Topic 606 April 30, 2018: As reported under Topic 606 Adjustments Balances under Prior GAAP (i n thousands) Assets Current assets: Cash and equivalents $ 144,389 $ - $ 144,389 Accounts receivable, net 56,909 - 56,909 Other current assets 23,538 (3,658 ) 19,880 Total current assets 224,836 (3,658 ) 221,178 Property and equipment, net 30,184 - 30,184 Capitalized software costs, net 1,050 - 1,050 Goodwill 10,974 - 10,974 Deferred tax assets, net 13,057 994 14,051 Other assets, net 11,147 (8,050 ) 3,097 Total assets $ 291,248 $ (10,714 ) $ 280,534 Liabilities and stockholders’ equity Current portion of long-term debt $ 471 $ - $ 471 Accounts payable 9,192 - 9,192 Deferred revenue 103,369 3,384 106,753 Other current liabilities 34,830 - 34,830 Total current liabilities 147,862 3,384 151,246 Long-term debt 13,194 - 13,194 Other liabilities 4,883 1,094 5,977 Stockholders’ equity Common stock - Class A 16 - 16 Common stock - Class B 4 - 4 Additional paid-in capital 196,058 - 196,058 Treasury stock (10,035 ) - (10,035 ) Accumulated deficit (53,396 ) (15,192 ) (68,588 ) Accumulated other comprehensive loss (7,338 ) - (7,338 ) Total stockholders’ equity 125,309 (15,192 ) 110,117 Total liabilities and stockholders’ equity $ 291,248 $ (10,714 ) $ 280,534 The following table summarizes the effects of adopting Topic 606 three April 30, 2018: As reported under Topic 606 Adjustments Balances under Prior GAAP (i n thousands, except per share amounts) Revenue Subscription fees $ 21,511 $ (306 ) $ 21,205 License fees 6,266 (1,170 ) 5,096 Maintenance and other 31,483 73 31,556 Professional services 26,930 (1,750 ) 25,180 Total revenue 86,190 (3,153 ) 83,037 Cost of revenue: Subscription fees 8,228 10 8,238 License fees 664 - 664 Maintenance and other 7,865 - 7,865 Professional services 24,310 - 24,310 Total cost of revenue 41,067 10 41,077 Gross profit 45,123 (3,163 ) 41,960 Operating expenses: Sales and marketing 19,946 (262 ) 19,684 Research and development 14,006 (59 ) 13,947 General and administrative 9,362 - 9,362 Total operating expenses 43,314 (321 ) 42,993 Operating income 1,809 (2,842 ) (1,033 ) Other (income) expense Interest income (524 ) - (524 ) Interest expense 157 - 157 Other (income) expense (404 ) - (404 ) Total other (income) expense, net (771 ) - (771 ) Income before income taxes 2,580 (2,842 ) (262 ) Income tax expense 1,183 (191 ) 992 Net income $ 1,397 $ (2,651 ) $ (1,254 ) Basic income per share Class A $ 0.07 $ (0.14 ) $ (0.07 ) Class B $ 0.06 $ (0.12 ) $ (0.06 ) Diluted income per share Class A $ 0.07 $ (0.14 ) $ (0.07 ) Class B $ 0.06 $ (0.12 ) $ (0.06 ) The Company’s net cash provided by operating activities for the three April 30, 2018 not 606. 606 three April 30, 2018: As reported under Topic 606 Adjustments Balances under Prior GAAP (i n thousands) Net income (loss) $ 1,397 $ (2,651 ) $ (1,254 ) Amortization of deferred costs 1,004 (1,004 ) - Net change in valuation allowance 1,416 648 2,064 Changes in operating assets and liabilities: Other assets (4,454 ) 279 (4,175 ) Deferred revenue (11,020 ) 2,728 (8,292 ) Recent Accounting Pronouncements Not In February 2016, 2016 02, Leases (Topic 842 2016 02 2016 02 first 2020 2016 02 2016 02. In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 Impairment, 2 zero 2 February 1, 2020. not 2017 04

Note 2 - Revenue

Note 2 - Revenue	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. QAD offers its software using the same underlying technology via two not The Company generates revenue through sales of licenses and maintenance provided to its on-premises customers and through subscriptions of its cloud-based software. QAD offers professional services to both its on-premises and cloud customers to assist them with the design, testing and implementation of its software. The Company determines revenue recognition through the following steps: - Identification of the contract, or contracts, with a customer; - Identification of the performance obligations in the contract; - Determination of the transaction price; - Allocation of the transaction price to the performance obligations in the contract; and - Recognition of revenue when, or as, we satisfy a performance obligation. The Company records the amount of revenue and related costs by considering whether the entity is a principal (gross presentation) or an agent (net presentation) by evaluating the nature of its promise to the customer. Revenue is presented net of sales, value-added and other taxes collected from customers and remitted to government authorities. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account under Topic 606. The Company’s contracts which contain multiple performance obligations generally consist of the initial purchase of subscription or licenses and a professional services engagement. License purchases generally have multiple performance obligations as customers purchase maintenance in addition to the licenses. The Company’s single performance obligation arrangements are typically maintenance renewals, subscription renewals and services engagements. For contracts with multiple performance obligations where the contracted price differs from the standalone selling price ("SSP") for any distinct good or service, the Company may Subscription Subscription revenue is recognized ratably over the initial subscription period committed to by the customer commencing when the cloud environment is made available to the customer. The initial subscription period is typically 12 60 30 Software Licenses Transfer of control for software is considered to have occurred upon electronic delivery of the license key that provides immediate availability of the product to the customer. The Company’s typical payment terms tend to vary by region but its standard payment terms are within 30 90 Maintenance Revenue from support services and product updates, referred to as maintenance revenue, is recognized ratably over the term of the maintenance period, which in most instances is one 30 Professional Services Revenue from professional services is typically comprised of implementation, development, training or other consulting services. Consulting services are generally sold on a time-and-materials or fixed fee basis and can include services ranging from software installation to data conversion and building non-complex interfaces to allow the software to operate in integrated environments. The Company recognizes revenue for time-and-materials arrangements as the services are performed. In fixed fee arrangements, revenue is recognized as services are performed as measured by costs incurred to date, compared to total estimated costs to complete the services project. Management applies judgment when estimating project status and the costs necessary to complete the services projects. A number of internal and external factors can affect these estimates, including labor rates, utilization and efficiency variances and specification and testing requirement changes. Services are generally invoiced upon milestones in the contract or upon consumption of the hourly resources and payments are typically due 30 Indirect Sales Channels The Company executes arrangements through indirect sales channels via sales agents and distributors who are authorized to market its software products to end users. In arrangements with sales agents, QAD contracts directly with the customer and sales agents are compensated on a commission basis. Distributor arrangements are those in which the resellers are authorized to market and distribute the Company’s software products to end users in specified territories and the distributor bears the risk of collection from the end user customer. The Company recognizes revenue from transactions with distributors when the distributor submits a signed agreement and transfer of control has occurred to the distributor in accordance with the five not Disaggregated Revenue The Company disaggregates revenue from contracts with customers by geography and by the customers’ industry within manufacturing, as it believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company’s revenue by geography is as follows: Three Months Ended April 30, 2018 2017 (in thousands) North America $ 40,025 $ 33,370 EMEA 25,087 20,881 Asia Pacific 12,559 12,166 Latin America 8,519 4,965 Total revenue $ 86,190 $ 71,382 The Company’s revenue by industry is as follows: Three Months Ended April 30, 2018 2017 (in thousands) Automotive $ 37,062 $ 26,412 Consumer products and food and beverage 13,790 11,421 High technology and industrial products 24,995 22,842 Life sciences 10,343 10,707 Total revenue $ 86,190 $ 71,382 Significant Judgments More judgments and estimates are required under Topic 606 605. 606 may may Judgment is required to determine the SSP for each distinct performance obligation. The Company rarely licenses or sells products on a stand-alone basis, so the Company is required to estimate the range of SSPs for each performance obligation. In instances where SSP is not not may Revenue is recognized over time for the Company’s subscription, maintenance and fixed fee professional services that are separate performance obligations. For the Company’s professional services, revenue is recognized over time, generally using costs incurred or hours expended to measure progress. Judgment is required in estimating project status and the costs necessary to complete projects. A number of internal and external factors can affect these estimates, including labor rates, utilization, specification variances and testing requirement changes. If a group of agreements are entered at or near the same time and so closely related that they are, in effect, part of a single arrangement, such agreements are deemed to be combined as one If a contract includes variable consideration, the Company exercises judgment in estimating the amount of consideration to which the entity will be entitled in exchange for transferring the promised goods or services to a customer. When estimating variable consideration, the Company will consider all relevant facts and circumstances. Variable consideration will be estimated and included in the contract price only when it is probable that a significant reversal in the amount of revenue recognized will not Contract Balances The timing of revenue recognition may not not The contract assets indicated below are presented as other current and non-current assets in the Condensed Consolidated Balance Sheets. These assets primarily relate to professional services and subscription and consist of the Company’s rights to consideration for goods or services transferred but not April 30, 2018. The Company’s contract balances are as follows: As of April 30, 2018 Feb. 1, 2018 (In thousands) Contract assets, short-term $ 1,345 $ 890 Contract assets, long-term - 110 Total contract assets $ 1,345 $ 1,000 Deferred revenue, short-term $ 103,369 $ 115,454 Deferred revenue, long-term 1,366 1,644 Total deferred revenue $ 104,735 $ 117,098 During the three April 30, 2018, $50.2 606, Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $237.6 April 30, 2018, $151.5 12 not not Deferred Revenue QAD typically invoices its customers for subscription and support fees in advance on a quarterly or annual basis, with payment due at the start of the subscription or support term. Unpaid invoice amounts for non-cancelable services starting in future periods are included in accounts receivable and deferred revenue. The portion of deferred revenue that QAD anticipates will be recognized after the succeeding twelve Deferred revenues consisted of the following: As of April 30, 2018 January 31, 201 8 (in thousands) Deferred maintenance $ 72,141 $ 80,811 Deferred subscription 28,483 31,034 Deferred professional services 2,297 3,523 Deferred license 21 756 Deferred other revenue 427 569 Deferred revenues, current 103,369 116,693 Deferred revenues, non-current (in Other liabilities) 1,366 2,156 Total deferred revenues $ 104,735 $ 118,849 Practical Expedients and Exemptions There are several practical expedients and exemptions allowed under Topic 606 606: Application ● The Company does not one ● The Company generally expenses sales commissions and sales agent fees when incurred when the amortization period would have been one ● The Company also used the practical expedient to calculate contract acquisition costs based on a portfolio of contracts with similar characteristics instead of a contract by contract analysis. ● The Company does not Modified Retrospective Transition Adjustments ● For contract modifications, the Company reflected the aggregate effect of all modifications that occurred prior to the adoption date when identifying the satisfied and unsatisfied performance obligations, determining the transaction price and allocating the transaction price to satisfied and unsatisfied performance obligations for the modified contract at transition. Costs to Obtain and Fulfill a Contract The Company’s incremental direct costs of obtaining a contract consist of sales commissions and sales agent fees which are deferred and amortized ratably over the term of economic benefit which the Company has determined to be five one April 30, 2018 January 31, 2018, $10.7 $10.1 three April 30, 2018, $0.9 Costs to fulfill a contract, which are incurred upon initiation of certain services contracts and are related to initial customer setup, are included in other current assets and long-term assets in the Company’s Condensed Consolidated Balance Sheets. The amount of such cost at April 30, 2018 January 31, 2018 $1.5 five three April 30, 2018, $0.1 Recoverability of these costs is subject to various business risks. Quarterly, the Company compares the carrying value of these assets with the undiscounted future cash flows expected to be generated by them to determine if there is impairment. If impaired, these assets are reduced to an estimated fair value on a discounted cash flow basis. No three April 30, 2018.

Note 3 - Computation of Net Inc

Note 3 - Computation of Net Income (Loss) Per Share	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	3 . COMPUTATION OF NET INCOME (LOSS) PER SHARE The following table sets forth the computation of basic and diluted net income (loss) per share: Three Months Ended April 30, 2018 2017 (in thousands except per share data) Net income (loss) $ 1,397 $ (2,571 ) Less: Dividends declared (1,359 ) (1,331 ) Undistributed net income (loss) $ 38 $ (3,902 ) Net income (loss) per share – Class A Common Stock Dividends declared $ 1,164 $ 1,138 Allocation of undistributed net income (loss) 32 (3,337 ) Net income (loss) attributable to Class A common stock $ 1,196 $ (2,199 ) Weighted average shares of Class A common stock outstanding— basic 16,076 15,809 Weighted average potential shares of Class A common stock 1,750 — Weighted average shares of Class A common stock and potential common shares outstanding— diluted 17,826 15,809 Basic net income (loss) per Class A common share $ 0.07 $ (0.14 ) Diluted net income (loss) per Class A common share $ 0.07 $ (0.14 ) Net income (loss) per share – Class B Common Stock Dividends declared $ 195 $ 193 Allocation of undistributed net income (loss) 6 (565 ) Net income (loss) attributable to Class B common stock $ 201 $ (372 ) Weighted average shares of Class B common stock outstanding— basic 3,232 3,210 Weighted average potential shares of Class B common stock 182 — Weighted average shares of Class B common stock and potential common shares outstanding— diluted 3,414 3,210 Basic net income (loss) per Class B common share $ 0.06 $ (0.12 ) Diluted net income (loss) per Class B common share $ 0.06 $ (0.12 ) 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 April 30, 2018 2017 (in thousands) Class A — 3,036 Class B — 389

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	4 . 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 April 30, 2018 January 31, 2018: Fair value measurement at reporting date using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Money market mutual funds as of April 30, 2018 (a) $ 108,892 Money market mutual funds as of January 31, 2018 (a) $ 115,416 Asset related to the interest rate swap as of April 30, 2018 (b) $ 304 Asset related to the interest rate swap as of January 31, 2018 (b) $ 187 ___________________________ (a) Money market mutual funds are recorded at fair value based upon quoted market prices. (b) The asset 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 $35.0 $32.0 April 30, 2018 January 31, 2018, 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 three April 30, 2018. Derivative Instruments The Company entered into an interest rate swap in May 2012 one 7 The fair values of the derivative instrument at April 30, 2018 January 31, 2018 Asset Fair Value Balance Sheet Location April 30, 2018 January 31, 2018 Derivative instrument: Interest rate swap Other assets, net $ 304 $ 187 Total $ 304 $ 187 The change in fair value of the interest rate swap recognized in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three April 30, 2018 2017 $117,000 $13,000,

Note 5 - Capitalized Software C

Note 5 - Capitalized Software Costs	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Capitalized Software Costs [Text Block]	5 . CAPITALIZED SOFTWARE COSTS Capitalized software costs and accumulated amortization at April 30, 2018 January 31, 2018 April 30, 201 8 January 31, 20 1 8 (in thousands) Capitalized software development costs $ 1,480 $ 1,516 Less accumulated amortization (430 ) (526 ) Capitalized software costs, net $ 1,050 $ 990 The Company’s capitalized software development costs relate to translations and localizations of QAD Enterprise Applications. It is the Company’s policy to write off capitalized software development costs once fully amortized. Accordingly, during the first three 2019, $0.2 Amortization of capitalized software costs was $0.1 $0.2 three April 30, 2018 2017, The following table summarizes the estimated future amortization expense relating to the Company’s capitalized software costs as of April 30, 2018: Fiscal Years (in thousands) 2019 remaining $ 360 2020 433 2021 249 2022 8 $ 1,050

Note 6 - Goodwill

Note 6 - Goodwill	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	6 . GOODWILL The changes in the carrying amount of goodwill for the three April 30, 2018 Gross Carrying Amount Accumulated Impairment Goodwill, Net (in thousands) Balance at January 31, 2018 $ 26,631 $ (15,608 ) $ 11,023 Impact of foreign currency translation (49 ) — (49 ) Balance at April 30, 2018 $ 26,582 $ (15,608 ) $ 10,974 The Company performed its annual goodwill impairment review during the fourth 2018. November 30, 2017. no 2018. No three April 30, 2018

Note 7 - Debt

Note 7 - Debt	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	7 . DEBT April 30, 201 8 January 31, 201 8 (in thousands) Note payable $ 13,708 $ 13,825 Less current maturities (471 ) (466 ) Less loan origination costs, net (43 ) (46 ) Long-term debt $ 13,194 $ 13,313 Note Payable Effective May 30, 2012 “2012 2012 $16.1 one 2.25%. 1.90% April 30, 2018. 2012 June 2022 2012 $16.1 4.31% 2012 2012 $88,100 one $11.7 April 30, 2018 $13.7

Note 8 - Accumulated Other Comp

Note 8 - Accumulated Other Comprehensive Loss	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Accumulated Other Comprehensive Income (Loss) [Text Block]	8 . ACCUMULATED OTHER COMPREHENSIVE LOSS The components of accumulated other comprehensive loss, net of taxes, were as follows: Foreign Currency Translation Adjustments (in thousands) Balance as of January 31, 2018 $ (6,828 ) Other comprehensive income before reclassifications (510 ) Amounts reclassified from accumulated other comprehensive loss - Net current period other comprehensive loss (510 ) Balance as of April 30, 2018 $ (7,338 ) During the first three 2019 no

Note 9 - Income Taxes

Note 9 - Income Taxes	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9 . INCOME TAXES In determining the quarterly provision for income taxes, the Company calculated income tax expense based on actual quarterly results in the first 2019 2018, 2018 2019 The Company recorded income tax expense of $1.2 $0.6 first three 2019 2018, 46% first 2019 32% first 2019 2018. When calculating the income tax expense for the first three 2019, December 22, 2017. 21% 2018 $10.0 2018 $2.0 may eight not 2018 2019 No. 118. The Company included a provision for GILTI in the tax expense for the first three 2019. not not not not The Company adopted ASU 2016 16, Income taxes (Topic 740 three April 30, 2018, $9.6 February 1, 2018 2018. The gross amount of unrecognized tax benefits was $1.8 April 30, 2018, $0.9 twelve April 30, 2018, $0.2 The Company reviews its net deferred tax assets by jurisdiction on a quarterly basis to determine whether a valuation allowance is necessary based on the more-likely-than- not 2017, April 30, 2018, April 30, 2018 January 31, 2018, $33.8 $33.7 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

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	10 . STOCKHOLDERS’ EQUITY Dividends The following table sets forth the dividends that were declared by the Company during the first three 2019: Declaration Date Record Date Payable Dividend Class A Dividend Class B (in thousands) 4/10/2018 4/24/2018 5/1/2018 $ 0.072 $ 0.06 $ 1,359

Note 11 - Stock-based Compensat

Note 11 - Stock-based Compensation	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	11 . 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, 2018. Stock-Based Compensation The following table sets forth reported stock-based compensation expense for the three April 30, 2018 2017: Three Months Ended April 30, 2018 2017 (in thousands) Cost of subscription fees $ 49 $ 25 Cost of maintenance and other 92 77 Cost of professional services 226 220 Sales and marketing 402 317 Research and development 315 253 General and administrative 1,022 876 Total stock-based compensation expense $ 2,106 $ 1,768 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 three April 30, 2018: RSUs Weighted Average Grant Date Fair Value (in thousands) Restricted stock at January 31, 2018 653 $ 25.10 Granted 2 43.93 Released (1) (11 ) 26.04 Forfeited (13 ) 24.54 Restricted stock at April 30, 2018 631 $ 25.16 _________________________ ( 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 April 30, 2018, 4,000 $0.2 Total unrecognized compensation cost related to RSUs was approximately $10.9 April 30, 2018. 2.5 SAR Information The following table summarizes the activity for outstanding SARs for the three April 30, 2018: SARs (in thousands) Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at January 31, 2018 3,024 $ 17.78 Granted — — Exercised (339 ) 9.25 Expired — — Forfeited (1 ) 19.40 Outstanding at April 30, 2018 2,684 $ 18.86 4.2 $ 66,381 Vested and exercisable at April 30, 2018 1,734 $ 15.24 3.1 $ 48,961 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 April 30, 2018, April 30, 2018. three April 30, 2018 $10.5 The number of SARs exercised includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. During the three April 30, 2018, 93,000 $3.9 At April 30, 2018, $4.9 2.5

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. 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 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

Note 13 - Business Segment Info

Note 13 - Business Segment Information	3 Months Ended
	Apr. 30, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. 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 606, not 280, Segment Reporting not one Subscription, license and maintenance revenues are generally assigned to the region where a majority of the end users are located. Professional services revenue is assigned based on the region where the services are delivered. Three Months Ended April 30, 201 8 201 7 Revenue: (in thousands) North America (1) $ 40,025 $ 33,370 EMEA 25,087 20,881 Asia Pacific 12,559 12,166 Latin America 8,519 4,965 $ 86,190 $ 71,382 ____________________________ ( 1 Sales into Canada accounted for 2% 1% three three April 30, 2018 2017,

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2018
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 in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 10 X. not 10 January 31, 2018. three April 30, 2018 not January 31, 2019. The Company’s accounting policies are set forth in detail in Note 1 10 January 31, 2018 Effective February 1, 2018 No. 2014 09, Revenue from Contracts with Customers 606” 2 2 10 Certain prior year amounts have been reclassified for consistency with the current year presentation. Adjustments were made to the operating activities section of the Condensed Consolidated Statements of Cash Flows. These reclassifications had no no
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements With the exception of those discussed below, there have been no three April 30, 2018, Recent Accounting Pronouncements Adopted In October 2016, 2016 16, Intra-Entity Transfers of Assets Other Than Inventory December 15, 2017 2016 16 February 1, 2018 $9.6 In August 2016, 2016 15, Statement of Cash Flows (Topic 230 December 15, 2017 2016 15 February 1, 2018 no In May 2014, 2014 09, Revenue from Contracts with Customers 606 Revenue Recognition 605 985 605 Software - Revenue Recognition 605 985 605 605” 606, 606 The Company adopted Topic 606 first 2019 2019 606. not not 606 606. The most significant impacts of the adoption of Topic 606 ● Removal of vendor specific objective evidence (“VSOE”) under prior GAAP resulted in earlier recognition of license and services revenues in those instances where the Company sold a multi-element deal where services did not $2.0 ● Removal of the limitation on contingent revenue resulted in revenue being recognized earlier for certain contracts. At adoption, QAD decreased accumulated deficit and increased contract assets by $0.8 ● Contracts containing a future option to the customer represented a material right which resulted in deferral of revenue. At adoption, QAD increased accumulated deficit and deferred revenue by $0.3 ● Commission expenses related to new cloud and maintenance contracts are no five $9.1 ● Sales agent fees to obtain new cloud and maintenance contracts are no five $1.0 ● Cloud environment setup costs incurred to fulfill new cloud customer contracts are no five $1.5 The tax impact of the above adjustments was assessed and, at adoption, QAD increased accumulated deficit and decreased net deferred tax assets by $1.6 Adjustments to beginning consolidated balance sheet accounts The following table presents the cumulative effect adjustments, net of income tax effects, to beginning consolidated balance sheet accounts for the new accounting standards adopted by the Company on the first 2019: Jan. 31, 2018 Topic 606 ASU2016-16 (1) Feb. 1, 2018 (in thousands) Assets Current assets: Cash and equivalents $ 147,023 $ - $ - $ 147,023 Accounts receivable, net 83,518 - - 83,518 Other current assets 15,856 4,013 - 19,869 Total current assets 246,397 4,013 - 250,410 Property and equipment, net 30,408 - - 30,408 Capitalized software costs, net 990 - - 990 Goodwill 11,023 - - 11,023 Deferred tax assets, net 7,944 (1,643 ) 9,584 15,885 Other assets, net 3,055 8,421 - 11,476 Total assets $ 299,817 $ 10,791 $ 9,584 $ 320,192 Liabilities and stockholders’ equity Current portion of long-term debt $ 466 $ - $ - $ 466 Accounts payable 14,818 - - 14,818 Deferred revenue 116,693 (1,239 ) - 115,454 Other current liabilities 43,460 - - 43,460 Total current liabilities 175,437 (1,239 ) - 174,198 Long-term debt 13,313 - - 13,313 Other liabilities 5,439 (511 ) - 4,928 Stockholders’ equity Common stock - Class A 16 - - 16 Common stock - Class B 4 - - 4 Additional paid-in capital 200,456 - - 200,456 Treasury stock (12,461 ) - - (12,461 ) Accumulated deficit (75,559 ) 12,541 9,584 (53,434 ) Accumulated other comprehensive loss (6,828 ) - - (6,828 ) Total stockholders’ equity 105,628 12,541 9,584 127,753 Total liabilities and stockholders’ equity $ 299,817 $ 10,791 $ 9,584 $ 320,192 ( 1 For further information about the adoption of Income taxes (Topic 740 9 The following table summarizes the effects of adopting Topic 606 April 30, 2018: As reported under Topic 606 Adjustments Balances under Prior GAAP (i n thousands) Assets Current assets: Cash and equivalents $ 144,389 $ - $ 144,389 Accounts receivable, net 56,909 - 56,909 Other current assets 23,538 (3,658 ) 19,880 Total current assets 224,836 (3,658 ) 221,178 Property and equipment, net 30,184 - 30,184 Capitalized software costs, net 1,050 - 1,050 Goodwill 10,974 - 10,974 Deferred tax assets, net 13,057 994 14,051 Other assets, net 11,147 (8,050 ) 3,097 Total assets $ 291,248 $ (10,714 ) $ 280,534 Liabilities and stockholders’ equity Current portion of long-term debt $ 471 $ - $ 471 Accounts payable 9,192 - 9,192 Deferred revenue 103,369 3,384 106,753 Other current liabilities 34,830 - 34,830 Total current liabilities 147,862 3,384 151,246 Long-term debt 13,194 - 13,194 Other liabilities 4,883 1,094 5,977 Stockholders’ equity Common stock - Class A 16 - 16 Common stock - Class B 4 - 4 Additional paid-in capital 196,058 - 196,058 Treasury stock (10,035 ) - (10,035 ) Accumulated deficit (53,396 ) (15,192 ) (68,588 ) Accumulated other comprehensive loss (7,338 ) - (7,338 ) Total stockholders’ equity 125,309 (15,192 ) 110,117 Total liabilities and stockholders’ equity $ 291,248 $ (10,714 ) $ 280,534 The following table summarizes the effects of adopting Topic 606 three April 30, 2018: As reported under Topic 606 Adjustments Balances under Prior GAAP (i n thousands, except per share amounts) Revenue Subscription fees $ 21,511 $ (306 ) $ 21,205 License fees 6,266 (1,170 ) 5,096 Maintenance and other 31,483 73 31,556 Professional services 26,930 (1,750 ) 25,180 Total revenue 86,190 (3,153 ) 83,037 Cost of revenue: Subscription fees 8,228 10 8,238 License fees 664 - 664 Maintenance and other 7,865 - 7,865 Professional services 24,310 - 24,310 Total cost of revenue 41,067 10 41,077 Gross profit 45,123 (3,163 ) 41,960 Operating expenses: Sales and marketing 19,946 (262 ) 19,684 Research and development 14,006 (59 ) 13,947 General and administrative 9,362 - 9,362 Total operating expenses 43,314 (321 ) 42,993 Operating income 1,809 (2,842 ) (1,033 ) Other (income) expense Interest income (524 ) - (524 ) Interest expense 157 - 157 Other (income) expense (404 ) - (404 ) Total other (income) expense, net (771 ) - (771 ) Income before income taxes 2,580 (2,842 ) (262 ) Income tax expense 1,183 (191 ) 992 Net income $ 1,397 $ (2,651 ) $ (1,254 ) Basic income per share Class A $ 0.07 $ (0.14 ) $ (0.07 ) Class B $ 0.06 $ (0.12 ) $ (0.06 ) Diluted income per share Class A $ 0.07 $ (0.14 ) $ (0.07 ) Class B $ 0.06 $ (0.12 ) $ (0.06 ) The Company’s net cash provided by operating activities for the three April 30, 2018 not 606. 606 three April 30, 2018: As reported under Topic 606 Adjustments Balances under Prior GAAP (i n thousands) Net income (loss) $ 1,397 $ (2,651 ) $ (1,254 ) Amortization of deferred costs 1,004 (1,004 ) - Net change in valuation allowance 1,416 648 2,064 Changes in operating assets and liabilities: Other assets (4,454 ) 279 (4,175 ) Deferred revenue (11,020 ) 2,728 (8,292 ) Recent Accounting Pronouncements Not In February 2016, 2016 02, Leases (Topic 842 2016 02 2016 02 first 2020 2016 02 2016 02. In January 2017, 2017 04, Intangibles—Goodwill and Other (Topic 350 Impairment, 2 zero 2 February 1, 2020. not 2017 04

Note 1 - Basis of Presentatio20

Note 1 - Basis of Presentation and Recent Accounting Pronouncements (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Jan. 31, 2018 Topic 606 ASU2016-16 (1) Feb. 1, 2018 (in thousands) Assets Current assets: Cash and equivalents $ 147,023 $ - $ - $ 147,023 Accounts receivable, net 83,518 - - 83,518 Other current assets 15,856 4,013 - 19,869 Total current assets 246,397 4,013 - 250,410 Property and equipment, net 30,408 - - 30,408 Capitalized software costs, net 990 - - 990 Goodwill 11,023 - - 11,023 Deferred tax assets, net 7,944 (1,643 ) 9,584 15,885 Other assets, net 3,055 8,421 - 11,476 Total assets $ 299,817 $ 10,791 $ 9,584 $ 320,192 Liabilities and stockholders’ equity Current portion of long-term debt $ 466 $ - $ - $ 466 Accounts payable 14,818 - - 14,818 Deferred revenue 116,693 (1,239 ) - 115,454 Other current liabilities 43,460 - - 43,460 Total current liabilities 175,437 (1,239 ) - 174,198 Long-term debt 13,313 - - 13,313 Other liabilities 5,439 (511 ) - 4,928 Stockholders’ equity Common stock - Class A 16 - - 16 Common stock - Class B 4 - - 4 Additional paid-in capital 200,456 - - 200,456 Treasury stock (12,461 ) - - (12,461 ) Accumulated deficit (75,559 ) 12,541 9,584 (53,434 ) Accumulated other comprehensive loss (6,828 ) - - (6,828 ) Total stockholders’ equity 105,628 12,541 9,584 127,753 Total liabilities and stockholders’ equity $ 299,817 $ 10,791 $ 9,584 $ 320,192 As reported under Topic 606 Adjustments Balances under Prior GAAP (i n thousands) Assets Current assets: Cash and equivalents $ 144,389 $ - $ 144,389 Accounts receivable, net 56,909 - 56,909 Other current assets 23,538 (3,658 ) 19,880 Total current assets 224,836 (3,658 ) 221,178 Property and equipment, net 30,184 - 30,184 Capitalized software costs, net 1,050 - 1,050 Goodwill 10,974 - 10,974 Deferred tax assets, net 13,057 994 14,051 Other assets, net 11,147 (8,050 ) 3,097 Total assets $ 291,248 $ (10,714 ) $ 280,534 Liabilities and stockholders’ equity Current portion of long-term debt $ 471 $ - $ 471 Accounts payable 9,192 - 9,192 Deferred revenue 103,369 3,384 106,753 Other current liabilities 34,830 - 34,830 Total current liabilities 147,862 3,384 151,246 Long-term debt 13,194 - 13,194 Other liabilities 4,883 1,094 5,977 Stockholders’ equity Common stock - Class A 16 - 16 Common stock - Class B 4 - 4 Additional paid-in capital 196,058 - 196,058 Treasury stock (10,035 ) - (10,035 ) Accumulated deficit (53,396 ) (15,192 ) (68,588 ) Accumulated other comprehensive loss (7,338 ) - (7,338 ) Total stockholders’ equity 125,309 (15,192 ) 110,117 Total liabilities and stockholders’ equity $ 291,248 $ (10,714 ) $ 280,534 As reported under Topic 606 Adjustments Balances under Prior GAAP (i n thousands, except per share amounts) Revenue Subscription fees $ 21,511 $ (306 ) $ 21,205 License fees 6,266 (1,170 ) 5,096 Maintenance and other 31,483 73 31,556 Professional services 26,930 (1,750 ) 25,180 Total revenue 86,190 (3,153 ) 83,037 Cost of revenue: Subscription fees 8,228 10 8,238 License fees 664 - 664 Maintenance and other 7,865 - 7,865 Professional services 24,310 - 24,310 Total cost of revenue 41,067 10 41,077 Gross profit 45,123 (3,163 ) 41,960 Operating expenses: Sales and marketing 19,946 (262 ) 19,684 Research and development 14,006 (59 ) 13,947 General and administrative 9,362 - 9,362 Total operating expenses 43,314 (321 ) 42,993 Operating income 1,809 (2,842 ) (1,033 ) Other (income) expense Interest income (524 ) - (524 ) Interest expense 157 - 157 Other (income) expense (404 ) - (404 ) Total other (income) expense, net (771 ) - (771 ) Income before income taxes 2,580 (2,842 ) (262 ) Income tax expense 1,183 (191 ) 992 Net income $ 1,397 $ (2,651 ) $ (1,254 ) Basic income per share Class A $ 0.07 $ (0.14 ) $ (0.07 ) Class B $ 0.06 $ (0.12 ) $ (0.06 ) Diluted income per share Class A $ 0.07 $ (0.14 ) $ (0.07 ) Class B $ 0.06 $ (0.12 ) $ (0.06 ) As reported under Topic 606 Adjustments Balances under Prior GAAP (i n thousands) Net income (loss) $ 1,397 $ (2,651 ) $ (1,254 ) Amortization of deferred costs 1,004 (1,004 ) - Net change in valuation allowance 1,416 648 2,064 Changes in operating assets and liabilities: Other assets (4,454 ) 279 (4,175 ) Deferred revenue (11,020 ) 2,728 (8,292 )

Note 2 - Revenue (Tables)

Note 2 - Revenue (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended April 30, 2018 2017 (in thousands) North America $ 40,025 $ 33,370 EMEA 25,087 20,881 Asia Pacific 12,559 12,166 Latin America 8,519 4,965 Total revenue $ 86,190 $ 71,382 Three Months Ended April 30, 2018 2017 (in thousands) Automotive $ 37,062 $ 26,412 Consumer products and food and beverage 13,790 11,421 High technology and industrial products 24,995 22,842 Life sciences 10,343 10,707 Total revenue $ 86,190 $ 71,382
Contract with Customer, Asset and Liability [Table Text Block]	As of April 30, 2018 Feb. 1, 2018 (In thousands) Contract assets, short-term $ 1,345 $ 890 Contract assets, long-term - 110 Total contract assets $ 1,345 $ 1,000 Deferred revenue, short-term $ 103,369 $ 115,454 Deferred revenue, long-term 1,366 1,644 Total deferred revenue $ 104,735 $ 117,098 As of April 30, 2018 January 31, 201 8 (in thousands) Deferred maintenance $ 72,141 $ 80,811 Deferred subscription 28,483 31,034 Deferred professional services 2,297 3,523 Deferred license 21 756 Deferred other revenue 427 569 Deferred revenues, current 103,369 116,693 Deferred revenues, non-current (in Other liabilities) 1,366 2,156 Total deferred revenues $ 104,735 $ 118,849

Note 3 - Computation of Net I22

Note 3 - Computation of Net Income (Loss) Per Share (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended April 30, 2018 2017 (in thousands except per share data) Net income (loss) $ 1,397 $ (2,571 ) Less: Dividends declared (1,359 ) (1,331 ) Undistributed net income (loss) $ 38 $ (3,902 ) Net income (loss) per share – Class A Common Stock Dividends declared $ 1,164 $ 1,138 Allocation of undistributed net income (loss) 32 (3,337 ) Net income (loss) attributable to Class A common stock $ 1,196 $ (2,199 ) Weighted average shares of Class A common stock outstanding— basic 16,076 15,809 Weighted average potential shares of Class A common stock 1,750 — Weighted average shares of Class A common stock and potential common shares outstanding— diluted 17,826 15,809 Basic net income (loss) per Class A common share $ 0.07 $ (0.14 ) Diluted net income (loss) per Class A common share $ 0.07 $ (0.14 ) Net income (loss) per share – Class B Common Stock Dividends declared $ 195 $ 193 Allocation of undistributed net income (loss) 6 (565 ) Net income (loss) attributable to Class B common stock $ 201 $ (372 ) Weighted average shares of Class B common stock outstanding— basic 3,232 3,210 Weighted average potential shares of Class B common stock 182 — Weighted average shares of Class B common stock and potential common shares outstanding— diluted 3,414 3,210 Basic net income (loss) per Class B common share $ 0.06 $ (0.12 ) Diluted net income (loss) per Class B common share $ 0.06 $ (0.12 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended April 30, 2018 2017 (in thousands) Class A — 3,036 Class B — 389

Note 4 - Fair Value Measureme23

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair value measurement at reporting date using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) Money market mutual funds as of April 30, 2018 (a) $ 108,892 Money market mutual funds as of January 31, 2018 (a) $ 115,416 Asset related to the interest rate swap as of April 30, 2018 (b) $ 304 Asset related to the interest rate swap as of January 31, 2018 (b) $ 187
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Asset Fair Value Balance Sheet Location April 30, 2018 January 31, 2018 Derivative instrument: Interest rate swap Other assets, net $ 304 $ 187 Total $ 304 $ 187

Note 5 - Capitalized Software24

Note 5 - Capitalized Software Costs (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Schedule of Capitalized Software Costs [Table Text Block]	April 30, 201 8 January 31, 20 1 8 (in thousands) Capitalized software development costs $ 1,480 $ 1,516 Less accumulated amortization (430 ) (526 ) Capitalized software costs, net $ 1,050 $ 990
Schedule of Capitalized Software Costs Amortization Expense [Table Text Block]	Fiscal Years (in thousands) 2019 remaining $ 360 2020 433 2021 249 2022 8 $ 1,050

Note 6 - Goodwill (Tables)

Note 6 - Goodwill (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Schedule of Goodwill [Table Text Block]	Gross Carrying Amount Accumulated Impairment Goodwill, Net (in thousands) Balance at January 31, 2018 $ 26,631 $ (15,608 ) $ 11,023 Impact of foreign currency translation (49 ) — (49 ) Balance at April 30, 2018 $ 26,582 $ (15,608 ) $ 10,974

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Schedule of Debt [Table Text Block]	April 30, 201 8 January 31, 201 8 (in thousands) Note payable $ 13,708 $ 13,825 Less current maturities (471 ) (466 ) Less loan origination costs, net (43 ) (46 ) Long-term debt $ 13,194 $ 13,313

Note 8 - Accumulated Other Co27

Note 8 - Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Foreign Currency Translation Adjustments (in thousands) Balance as of January 31, 2018 $ (6,828 ) Other comprehensive income before reclassifications (510 ) Amounts reclassified from accumulated other comprehensive loss - Net current period other comprehensive loss (510 ) Balance as of April 30, 2018 $ (7,338 )

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Dividends Declared [Table Text Block]	Declaration Date Record Date Payable Dividend Class A Dividend Class B (in thousands) 4/10/2018 4/24/2018 5/1/2018 $ 0.072 $ 0.06 $ 1,359

Note 11 - Stock-based Compens29

Note 11 - Stock-based Compensation (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended April 30, 2018 2017 (in thousands) Cost of subscription fees $ 49 $ 25 Cost of maintenance and other 92 77 Cost of professional services 226 220 Sales and marketing 402 317 Research and development 315 253 General and administrative 1,022 876 Total stock-based compensation expense $ 2,106 $ 1,768
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	RSUs Weighted Average Grant Date Fair Value (in thousands) Restricted stock at January 31, 2018 653 $ 25.10 Granted 2 43.93 Released (1) (11 ) 26.04 Forfeited (13 ) 24.54 Restricted stock at April 30, 2018 631 $ 25.16
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, 2018 3,024 $ 17.78 Granted — — Exercised (339 ) 9.25 Expired — — Forfeited (1 ) 19.40 Outstanding at April 30, 2018 2,684 $ 18.86 4.2 $ 66,381 Vested and exercisable at April 30, 2018 1,734 $ 15.24 3.1 $ 48,961

Note 13 - Business Segment In30

Note 13 - Business Segment Information (Tables)	3 Months Ended
	Apr. 30, 2018
Notes Tables
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	Three Months Ended April 30, 201 8 201 7 Revenue: (in thousands) North America (1) $ 40,025 $ 33,370 EMEA 25,087 20,881 Asia Pacific 12,559 12,166 Latin America 8,519 4,965 $ 86,190 $ 71,382

Note 1 - Basis of Presentatio31

Note 1 - Basis of Presentation and Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands	Apr. 30, 2018	Feb. 01, 2018	Jan. 31, 2018
Retained Earnings (Accumulated Deficit), Ending Balance	$ (53,396)	$ (53,434)	$ (75,559)
Contract with Customer, Liability, Total	104,735	117,098	$ 118,849
Contract with Customer, Asset, Net, Total	$ 1,345	1,000
Commission Expense [Member]
Capitalized Contract Cost, Amortization Period	5 years
Sales Agent Fees [Member]
Capitalized Contract Cost, Amortization Period	5 years
Cloud Environment Setup Costs [Member]
Capitalized Contract Cost, Amortization Period	5 years
Accounting Standards Update 2016-16 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		9,584
Deferred Tax Assets, Net of Valuation Allowance, Total		9,600
Accounting Standards Update 2014-09 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		12,541
Accounting Standards Update 2014-09 [Member] | Removal of Vendor Specific Objective Evidence [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		2,000
Contract with Customer, Liability, Total		(2,000)
Accounting Standards Update 2014-09 [Member] | Removal of Limitation on Contingent Revenue [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		800
Contract with Customer, Asset, Net, Total		800
Accounting Standards Update 2014-09 [Member] | Contracts Containing Future Option to Customer Reprsented Material Right Which Resulted in Deferred of Revenue [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		(300)
Contract with Customer, Liability, Total		300
Accounting Standards Update 2014-09 [Member] | Commission Expense Related to Contracts No Longer Expensed as Incurred [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		9,100
Other Assets, Total		9,100
Accounting Standards Update 2014-09 [Member] | Sales Agent Fees to Obtain Contracts No Longer Expensed as Incurred [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		1,000
Other Assets, Total		1,000
Accounting Standards Update 2014-09 [Member] | Cloud Environment Setup Costs Incurred to Fufill New Cloud Customer Contracts No Longer Expensed as Incurred [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		(1,500)
Other Assets, Total		1,500
Accounting Standards Update 2014-09 [Member] | Adjustments for Tax Impact Related to Adoption of ASU 2014-09 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		(1,600)
Deferred Tax Assets, Net of Valuation Allowance, Total		$ (1,600)

Note 1 - Basis of Presentatio32

Note 1 - Basis of Presentation and Recent Accounting Pronouncements - Effects of Adopting Topic 606 (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Apr. 30, 2018	Apr. 30, 2017	Feb. 01, 2018	Jan. 31, 2018	Jan. 31, 2017
Cash and Cash Equivalents, at Carrying Value, Ending Balance		$ 144,389	$ 153,348	$ 147,023	$ 147,023	$ 145,082
Accounts receivable, net		56,909		83,518	83,518
Other current assets		23,538		19,869	15,856
Total current assets		224,836		250,410	246,397
Property and equipment, net		30,184		30,408	30,408
Capitalized software costs, net		1,050		990	990
Goodwill		10,974		11,023	11,023
Deferred tax assets, net				15,885	7,944
Other assets, net		11,147		11,476	3,055
Total assets		291,248		320,192	299,817
Current portion of long-term debt		471		466	466
Accounts payable		9,192		14,818	14,818
Deferred revenue		103,369		115,454	116,693
Other current liabilities		34,830		43,460	43,460
Total current liabilities		147,862		174,198	175,437
Long-term debt		13,194		13,313	13,313
Other liabilities		4,883		4,928	5,439
Additional paid-in capital		196,058		200,456	200,456
Treasury stock		(10,035)		(12,461)	(12,461)
Retained Earnings (Accumulated Deficit), Ending Balance		(53,396)		(53,434)	(75,559)
Accumulated other comprehensive loss		(7,338)		(6,828)	(6,828)
Total stockholders’ equity		125,309		127,753	105,628
Total liabilities and stockholders’ equity		291,248		320,192	299,817
Cash and equivalents		144,389	153,348	147,023	147,023	$ 145,082
Accounts receivable, net		56,909		83,518	83,518
Other current assets		23,538		19,869	15,856
Total current assets		224,836		250,410	246,397
Property and equipment, net		30,184		30,408	30,408
Capitalized software costs, net		1,050		990	990
Goodwill		10,974		11,023	11,023
Deferred tax assets, net		13,057			7,944
Other assets, net		11,147		11,476	3,055
Total assets		291,248		320,192	299,817
Current portion of long-term debt		471		466	466
Accounts payable		9,192		14,818	14,818
Deferred revenue		103,369		115,454	116,693
Other current liabilities		34,830		43,460	43,460
Total current liabilities		147,862		174,198	175,437
Long-term debt		13,194		13,313	13,313
Other liabilities		4,883		4,928	5,439
Additional paid-in capital		196,058		200,456	200,456
Accumulated deficit		(53,396)		(53,434)	(75,559)
Accumulated other comprehensive loss		(7,338)		(6,828)	(6,828)
Total stockholders’ equity		125,309		127,753	105,628
Total liabilities and stockholders’ equity		291,248		320,192	299,817
Revenues		86,190	71,382
Costs of revenues		41,067	34,866
Gross profit		45,123	36,516
Sales and marketing		19,946	17,587
Research and development		14,006	11,532
General and administrative		9,362	8,593
Total operating expenses		43,314	37,875
Operating income		1,809	(1,359)
Interest income		(524)	(168)
Interest expense		157	156
Other (income) expense, net		(404)	604
Total other (income) expense, net		(771)	592
Income before income taxes		2,580	(1,951)
Income tax expense		1,183	620
Net (loss) income		1,397	(2,571)
Amortization of deferred costs		1,004
Net change in valuation allowance		1,416	1,107
Other assets		(4,454)	171
Deferred revenue		(11,020)	(7,623)
Common Class A [Member]
Common stock value		16		16	16
Common stock - Class A		16		16	16
Net (loss) income		$ 1,196	$ (2,199)
Basic net (loss) income per share (in dollars per share)		$ 0.07	$ (0.14)
Diluted net (loss) income per share (in dollars per share)		$ 0.07	$ (0.14)
Common Class B [Member]
Common stock value		$ 4		4	4
Common stock - Class A		4		4	4
Net (loss) income		$ 201	$ (372)
Basic net (loss) income per share (in dollars per share)		$ 0.06	$ (0.12)
Diluted net (loss) income per share (in dollars per share)		$ 0.06	$ (0.12)
Subscription and Circulation [Member]
Deferred revenue		$ 28,483			31,034
Deferred revenue		28,483			31,034
Revenues		21,511	$ 15,343
Costs of revenues		8,228	7,720
License [Member]
Deferred revenue		21			756
Deferred revenue		21			756
Revenues		6,266	5,265
Costs of revenues		664	685
Maintenance [Member]
Deferred revenue		72,141			80,811
Deferred revenue		72,141			80,811
Revenues		31,483	31,906
Costs of revenues		7,865	7,694
Professional Services [Member]
Deferred revenue		2,297			3,523
Deferred revenue		2,297			$ 3,523
Revenues		26,930	18,868
Costs of revenues		24,310	$ 18,767
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Cash and Cash Equivalents, at Carrying Value, Ending Balance		144,389
Accounts receivable, net		56,909
Other current assets		19,880
Total current assets		221,178
Property and equipment, net		30,184
Capitalized software costs, net		1,050
Goodwill		10,974
Other assets, net		3,097
Total assets		280,534
Current portion of long-term debt		471
Accounts payable		9,192
Deferred revenue		106,753
Other current liabilities		34,830
Total current liabilities		151,246
Long-term debt		13,194
Other liabilities		5,977
Additional paid-in capital		196,058
Treasury stock		(10,035)
Retained Earnings (Accumulated Deficit), Ending Balance		(68,588)
Accumulated other comprehensive loss		(7,338)
Total stockholders’ equity		110,117
Total liabilities and stockholders’ equity		280,534
Cash and equivalents		144,389
Accounts receivable, net		56,909
Other current assets		19,880
Total current assets		221,178
Property and equipment, net		30,184
Capitalized software costs, net		1,050
Goodwill		10,974
Deferred tax assets, net		14,051
Other assets, net		3,097
Total assets		280,534
Current portion of long-term debt		471
Accounts payable		9,192
Deferred revenue		106,753
Other current liabilities		34,830
Total current liabilities		151,246
Long-term debt		13,194
Other liabilities		5,977
Additional paid-in capital		196,058
Accumulated deficit		(68,588)
Accumulated other comprehensive loss		(7,338)
Total stockholders’ equity		110,117
Total liabilities and stockholders’ equity		280,534
Revenues		83,037
Costs of revenues		41,077
Gross profit		41,960
Sales and marketing		19,684
Research and development		13,947
General and administrative		9,362
Total operating expenses		42,993
Operating income		(1,033)
Interest income		(524)
Interest expense		157
Other (income) expense, net		(404)
Total other (income) expense, net		(771)
Income before income taxes		(262)
Income tax expense		992
Net (loss) income		(1,254)
Amortization of deferred costs
Net change in valuation allowance		2,064
Other assets		(4,175)
Deferred revenue		(8,292)
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Common Class A [Member]
Common stock value		16
Common stock - Class A		$ 16
Basic net (loss) income per share (in dollars per share)		$ (0.07)
Diluted net (loss) income per share (in dollars per share)		$ (0.07)
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Common Class B [Member]
Common stock value		$ 4
Common stock - Class A		$ 4
Basic net (loss) income per share (in dollars per share)		$ (0.06)
Diluted net (loss) income per share (in dollars per share)		$ (0.06)
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Subscription and Circulation [Member]
Revenues		$ 21,205
Costs of revenues		8,238
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | License [Member]
Revenues		5,096
Costs of revenues		664
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Maintenance [Member]
Revenues		31,556
Costs of revenues		7,865
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Professional Services [Member]
Revenues		25,180
Costs of revenues		24,310
Accounting Standards Update 2014-09 [Member]
Cash and Cash Equivalents, at Carrying Value, Ending Balance
Accounts receivable, net
Other current assets				4,013
Total current assets				4,013
Property and equipment, net
Capitalized software costs, net
Goodwill
Deferred tax assets, net				(1,643)
Other assets, net				8,421
Total assets				10,791
Current portion of long-term debt
Accounts payable
Deferred revenue				(1,239)
Other current liabilities
Total current liabilities				(1,239)
Long-term debt
Other liabilities				(511)
Additional paid-in capital
Treasury stock
Retained Earnings (Accumulated Deficit), Ending Balance				12,541
Accumulated other comprehensive loss
Total stockholders’ equity				12,541
Total liabilities and stockholders’ equity				10,791
Cash and equivalents
Accounts receivable, net
Other current assets				4,013
Total current assets				4,013
Property and equipment, net
Capitalized software costs, net
Goodwill
Other assets, net				8,421
Total assets				10,791
Current portion of long-term debt
Accounts payable
Deferred revenue				(1,239)
Other current liabilities
Total current liabilities				(1,239)
Long-term debt
Other liabilities				(511)
Additional paid-in capital
Accumulated deficit				12,541
Accumulated other comprehensive loss
Total stockholders’ equity				12,541
Total liabilities and stockholders’ equity				10,791
Accounting Standards Update 2014-09 [Member] | Common Class A [Member]
Common stock value
Common stock - Class A
Accounting Standards Update 2014-09 [Member] | Common Class B [Member]
Common stock value
Common stock - Class A
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Cash and Cash Equivalents, at Carrying Value, Ending Balance
Accounts receivable, net
Other current assets		(3,658)
Total current assets		(3,658)
Property and equipment, net
Capitalized software costs, net
Goodwill
Other assets, net		(8,050)
Total assets		(10,714)
Current portion of long-term debt
Accounts payable
Deferred revenue		3,384
Other current liabilities
Total current liabilities		3,384
Long-term debt
Other liabilities		1,094
Additional paid-in capital
Treasury stock
Retained Earnings (Accumulated Deficit), Ending Balance		(15,192)
Accumulated other comprehensive loss
Total stockholders’ equity		(15,192)
Total liabilities and stockholders’ equity		(10,714)
Cash and equivalents
Accounts receivable, net
Other current assets		(3,658)
Total current assets		(3,658)
Property and equipment, net
Capitalized software costs, net
Goodwill
Deferred tax assets, net		994
Other assets, net		(8,050)
Total assets		(10,714)
Current portion of long-term debt
Accounts payable
Deferred revenue		3,384
Other current liabilities
Total current liabilities		3,384
Long-term debt
Other liabilities		1,094
Additional paid-in capital
Accumulated deficit		(15,192)
Accumulated other comprehensive loss
Total stockholders’ equity		(15,192)
Total liabilities and stockholders’ equity		(10,714)
Revenues		(3,153)
Costs of revenues		10
Gross profit		(3,163)
Sales and marketing		(262)
Research and development		(59)
General and administrative
Total operating expenses		(321)
Operating income		(2,842)
Interest income
Interest expense
Other (income) expense, net
Total other (income) expense, net
Income before income taxes		(2,842)
Income tax expense		(191)
Net (loss) income		(2,651)
Amortization of deferred costs		(1,004)
Net change in valuation allowance		648
Other assets		279
Deferred revenue		2,728
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Common Class A [Member]
Common stock value
Common stock - Class A
Basic net (loss) income per share (in dollars per share)		$ (0.14)
Diluted net (loss) income per share (in dollars per share)		$ (0.14)
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Common Class B [Member]
Common stock value
Common stock - Class A
Basic net (loss) income per share (in dollars per share)		$ (0.12)
Diluted net (loss) income per share (in dollars per share)		$ (0.12)
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Subscription and Circulation [Member]
Revenues		$ (306)
Costs of revenues		10
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | License [Member]
Revenues		(1,170)
Costs of revenues
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Maintenance [Member]
Revenues		73
Costs of revenues
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Professional Services [Member]
Revenues		(1,750)
Costs of revenues
Accounting Standards Update 2016-16 [Member]
Cash and Cash Equivalents, at Carrying Value, Ending Balance	[1]
Accounts receivable, net	[1]
Other current assets	[1]
Total current assets	[1]
Property and equipment, net	[1]
Capitalized software costs, net	[1]
Goodwill	[1]
Deferred tax assets, net	[1]			9,584
Other assets, net	[1]
Total assets	[1]			9,584
Current portion of long-term debt	[1]
Accounts payable	[1]
Deferred revenue	[1]
Other current liabilities	[1]
Total current liabilities	[1]
Long-term debt	[1]
Other liabilities	[1]
Additional paid-in capital	[1]
Treasury stock	[1]
Retained Earnings (Accumulated Deficit), Ending Balance				9,584
Accumulated other comprehensive loss	[1]
Total stockholders’ equity	[1]			9,584
Total liabilities and stockholders’ equity	[1]			9,584
Cash and equivalents	[1]
Accounts receivable, net	[1]
Other current assets	[1]
Total current assets	[1]
Property and equipment, net	[1]
Capitalized software costs, net	[1]
Goodwill	[1]
Other assets, net	[1]
Total assets	[1]			9,584
Current portion of long-term debt	[1]
Accounts payable	[1]
Deferred revenue	[1]
Other current liabilities	[1]
Total current liabilities	[1]
Long-term debt	[1]
Other liabilities	[1]
Additional paid-in capital	[1]
Accumulated deficit				9,584
Accumulated other comprehensive loss	[1]
Total stockholders’ equity	[1]			9,584
Total liabilities and stockholders’ equity	[1]			9,584
Accounting Standards Update 2016-16 [Member] | Common Class A [Member]
Common stock value	[1]
Common stock - Class A	[1]
Accounting Standards Update 2016-16 [Member] | Common Class B [Member]
Common stock value	[1]
Common stock - Class A	[1]
[1]	For further information about the adoption of Income taxes (Topic 740): Intra-entity Transfers of Assets Other Than Inventory see Note 9 “Income Taxes.”

Note 2 - Revenue (Details Textu

Note 2 - Revenue (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Jan. 31, 2018
Contract with Customer, Liability, Revenue Recognized	$ 50,200
Capitalized Contract Cost, Amortization	1,004
Capitalized Contract Cost, Impairment Loss	$ 0
Direct Costs of Obtaining Contract [Member]
Capitalized Contract Cost, Amortization Period	5 years
Capitalized Contract Cost, Net, Total	$ 10,700		$ 10,100
Direct Costs of Obtaining Contract [Member] | Selling and Marketing Expense [Member]
Capitalized Contract Cost, Amortization	$ 900
Costs to Fulfill Contract [Member]
Capitalized Contract Cost, Amortization Period	5 years
Capitalized Contract Cost, Net, Total	$ 1,500		$ 1,500
Costs to Fulfill Contract [Member] | Cost of Sales [Member]
Capitalized Contract Cost, Amortization	$ 100

Note 2 - Revenue - Remaining Pe

Note 2 - Revenue - Remaining Performance Obligations (Details Textual) $ in Thousands	Apr. 30, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Amount	$ 151,500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 years

Note 2 - Revenue - Disaggregati

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Revenues	$ 86,190	$ 71,382
North America [Member]
Revenues	40,025	33,370
EMEA [Member]
Revenues	25,087	20,881
Asia Pacific [Member]
Revenues	12,559	12,166
Latin America [Member]
Revenues	8,519	4,965
Automotive [Member]
Revenues	37,062	26,412
Consumer Products and Food and Beverage [Member]
Revenues	13,790	11,421
High Technology and Industrial Products [Member]
Revenues	24,995	22,842
Life Sciences [Member]
Revenues	$ 10,343	$ 10,707

Note 2 - Revenue - Contract Bal

Note 2 - Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Feb. 01, 2018	Jan. 31, 2018
Contract assets, short-term	$ 1,345	$ 890
Contract assets, long-term		110
Total contract assets	1,345	1,000
Deferred revenue	103,369	115,454	$ 116,693
Deferred revenue, long-term	1,366	1,644	2,156
Total deferred revenue	104,735	117,098	118,849
Deferred revenues, current	103,369	115,454	116,693
Deferred revenues, non-current (in Other liabilities)	1,366	$ 1,644	2,156
Maintenance [Member]
Deferred revenue	72,141		80,811
Deferred revenues, current	72,141		80,811
Subscription and Circulation [Member]
Deferred revenue	28,483		31,034
Deferred revenues, current	28,483		31,034
Professional Services [Member]
Deferred revenue	2,297		3,523
Deferred revenues, current	2,297		3,523
License [Member]
Deferred revenue	21		756
Deferred revenues, current	21		756
Product and Service, Other [Member]
Deferred revenue	427		569
Deferred revenues, current	$ 427		$ 569

Note 3 - Computation of Net I37

Note 3 - Computation of Net Income (Loss) Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Net income (loss)	$ 1,397	$ (2,571)
Dividends declared	(1,359)	(1,331)
Undistributed net income (loss)	38	(3,902)
Net (loss) income per share
Dividends declared	1,359	1,331
Undistributed net income (loss)	38	(3,902)
Net (loss) income	1,397	(2,571)
Common Class A [Member]
Net income (loss)	1,196	(2,199)
Dividends declared	(1,164)	(1,138)
Undistributed net income (loss)	32	(3,337)
Net (loss) income per share
Dividends declared	1,164	1,138
Undistributed net income (loss)	32	(3,337)
Net (loss) income	$ 1,196	$ (2,199)
Weighted average shares of common stock outstanding—basic (in shares)	16,076	15,809
Weighted average potential shares of common stock (in shares)	1,750
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares)	17,826	15,809
Basic net (loss) income per common share (in dollars per share)	$ 0.07	$ (0.14)
Diluted net (loss) income per common share (in dollars per share)	$ 0.07	$ (0.14)
Common Class B [Member]
Net income (loss)	$ 201	$ (372)
Dividends declared	(195)	(193)
Undistributed net income (loss)	6	(565)
Net (loss) income per share
Dividends declared	195	193
Undistributed net income (loss)	6	(565)
Net (loss) income	$ 201	$ (372)
Weighted average shares of common stock outstanding—basic (in shares)	3,232	3,210
Weighted average potential shares of common stock (in shares)	182
Weighted average shares of common stock and potential common shares outstanding—diluted (in shares)	3,414	3,210
Basic net (loss) income per common share (in dollars per share)	$ 0.06	$ (0.12)
Diluted net (loss) income per common share (in dollars per share)	$ 0.06	$ (0.12)

Note 3 - Computation of Net I38

Note 3 - Computation of Net Income (Loss) Per Share - Anti-dilutive Shares (Details) - shares shares in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Common Class A [Member]
Antidilutive securities excluded from computation of net income per share (in shares)		3,036
Common Class B [Member]
Antidilutive securities excluded from computation of net income per share (in shares)		389

Note 4 - Fair Value Measureme39

Note 4 - Fair Value Measurements (Details Textual) - USD ($)	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Feb. 01, 2018	Jan. 31, 2018	Jan. 31, 2017
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 144,389,000	$ 153,348,000	$ 147,023,000	$ 147,023,000	$ 145,082,000
Interest Rate Swap [Member]
Derivative, Gain (Loss) on Derivative, Net, Total	117,000	$ 13,000
Reported Value Measurement [Member]
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 35,000,000			$ 32,000,000

Note 4 - Fair Value Measureme40

Note 4 - Fair Value Measurements - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands		Apr. 30, 2018	Jan. 31, 2018
Asset related to the interest rate swap		$ 304	$ 187
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Money market mutual funds	[1]	108,892	115,416
Asset related to the interest rate swap	[2]
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Money market mutual funds	[1]
Asset related to the interest rate swap	[2]	$ 304	$ 187
[1]	Money market mutual funds are recorded at fair value based upon quoted market prices.
[2]	The asset 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 4 - Fair Value Measureme41

Note 4 - Fair Value Measurements - Fair Values of the Derivative Instrument (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018
Fair value of derivative instrument	$ 304	$ 187
Interest Rate Swap [Member] | Other Noncurrent Assets [Member]
Fair value of derivative instrument	$ 304	$ 187

Note 5 - Capitalized Software42

Note 5 - Capitalized Software Costs (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Capitalized Computer Software Write-Downs	$ 0.2
Capitalized Computer Software, Amortization	$ 0.1	$ 0.2

Note 5 - Capitalized Software43

Note 5 - Capitalized Software Costs - Capitalized Software Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Feb. 01, 2018	Jan. 31, 2018
Capitalized software development costs	$ 1,480		$ 1,516
Less accumulated amortization	(430)		(526)
Capitalized software costs, net	$ 1,050	$ 990	$ 990

Note 5 - Capitalized Software44

Note 5 - Capitalized Software Costs - Estimated Amortization Expense (Details) - Computer Software, Intangible Asset [Member] $ in Thousands	Apr. 30, 2017USD ($)
2019 remaining	$ 360
2,020	433
2,021	249
2,022	8
Total	$ 1,050

Note 6 - Goodwill and Intangibl

Note 6 - Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2018USD ($)
Beginning balance, gross	$ 26,631
Accumulated impairment	(15,608)
Beginning balance, net	11,023
Impact of foreign currency translation, gross	(49)
Impact of foreign currency translation, accumulated impairment
Impact of foreign currency translation, net	(49)
Ending balance, gross	26,582
Accumulated impairment	(15,608)
Ending balance, net	$ 10,974

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) - Rabobank N.A [Member] - USD ($)	May 30, 2012	Apr. 30, 2018
2012 Mortgage [Member] | Quad Ortega Hill LLC [Member]
Debt Instrument, Face Amount	$ 16,100,000
Debt Instrument, Periodic Payment, Total	88,100
Final Principal Payment	11,700,000
2012 Mortgage [Member] | Quad Ortega Hill LLC [Member] | Swap [Member]
Derivative Liability, Notional Amount	$ 16,100,000
Derivative, Fixed Interest Rate	4.31%
2012 Mortgage [Member] | Quad Ortega Hill LLC [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%	1.90%
Unsecured Credit Agreement [Member]
Loans Payable to Bank, Total		$ 13,700,000

Note 7 - Debt - Summary of Debt

Note 7 - Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Feb. 01, 2018	Jan. 31, 2018
Note payable	$ 13,708		$ 13,825
Less current maturities	(471)	$ (466)	(466)
Less loan origination costs, net	(43)		(46)
Long-term debt	$ 13,194	$ 13,313	$ 13,313

Note 8 - Accumulated Other Co48

Note 8 - Accumulated Other Comprehensive Loss (Details Textual) $ in Thousands	3 Months Ended
	Apr. 30, 2018USD ($)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ 0

Note 8 - Accumulated Other Co49

Note 8 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2018USD ($)
Balance	$ 105,628
Balance	125,309
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(6,828)
Other comprehensive income before reclassifications	(510)
Amounts reclassified from accumulated other comprehensive loss
Net current period other comprehensive loss	(510)
Balance	$ (7,338)

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Feb. 01, 2018	Jan. 31, 2018
Income Tax Expense (Benefit), Total	$ 1,183	$ 620
Effective Income Tax Rate Reconciliation, Percent, Total	46.00%	32.00%
Income Tax Expense, Transition Tax on Accumulated Foreign Earnings	$ 10,000
Transition Tax for Accumulated Foreign Earnings, Liability	2,000
Retained Earnings (Accumulated Deficit), Ending Balance	(53,396)		$ (53,434)	$ (75,559)
Unrecognized Tax Benefits, Ending Balance	1,800
Unrecognized Tax Benefits, Period Increase (Decrease), Total	(900)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	200
Deferred Tax Assets, Valuation Allowance, Total	$ 33,800			$ 33,700
Accounting Standards Update 2016-16 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance			9,584
Deferred Tax Assets, Net of Valuation Allowance, Total			$ 9,600

Note 10 - Stockholders' Equit51

Note 10 - Stockholders' Equity - Dividends (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 30, 2018USD ($)$ / shares
Record Date	Apr. 24, 2018
Payable	May 1, 2018
Amount | $	$ 1,359
Common Class A [Member]
Dividend Per Share (in dollars per share)	$ 0.072
Common Class B [Member]
Dividend Per Share (in dollars per share)	$ 0.06

Note 11 - Stock-based Compens52

Note 11 - Stock-based Compensation (Details Textual)	3 Months Ended
	Apr. 30, 2018USD ($)shares
Restricted Stock Units (RSUs) [Member]
Shares Paid for Tax Withholding for Share Based Compensation | shares	4,000
Adjustments Related to Tax Withholding for Share-based Compensation	$ 200,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 10,900,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 182 days
Stock Appreciation Rights (SARs) [Member]
Shares Paid for Tax Withholding for Share Based Compensation | shares	93,000
Adjustments Related to Tax Withholding for Share-based Compensation	$ 3,900,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 4.90
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 182 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 10,500,000

Note 11 - Stock-based Compens53

Note 11 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Cost of subscription fees	$ 2,106	$ 1,768
Cost of Subscription [Member]
Cost of subscription fees	49	25
Cost of Maintenance and Other Revenue [Member]
Cost of subscription fees	92	77
Cost of Professional Services [Member]
Cost of subscription fees	226	220
Selling and Marketing Expense [Member]
Cost of subscription fees	402	317
Research and Development Expense [Member]
Cost of subscription fees	315	253
General and Administrative Expense [Member]
Cost of subscription fees	$ 1,022	$ 876

Note 11 - Stock-based Compens54

Note 11 - Stock-based Compensation - RSUs Activity (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands	3 Months Ended
	Apr. 30, 2018$ / sharesshares
Restricted stock (in shares) | shares	653
Restricted stock, weighted average grant date fair value (in dollars per share) | $ / shares	$ 25.10
Granted (in shares) | shares	2
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 43.93
Released (in shares) | shares	(11)	[1]
Released, weighted average grant date fair value (in dollars per share) | $ / shares	$ 26.04	[1]
Forfeited (in shares) | shares	(13)
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	$ 24.54
Restricted stock (in shares) | shares	631
Restricted stock, weighted average grant date fair value (in dollars per share) | $ / shares	$ 25.16
[1]	The number of RSUs released includes shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements.

Note 11 - Stock-based Compens55

Note 11 - Stock-based Compensation - Options/SARs Activity (Details) - Options/SARs [Member] $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2018USD ($)$ / sharesshares
Outstanding (in shares) | shares	3,024
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 17.78
Granted (in shares) | shares
Granted, weighted average exercise price (in dollars per share) | $ / shares
Exercised (in shares) | shares	(339)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 9.25
Expired (in shares) | shares
Expired, weighted average exercise price (in dollars per share) | $ / shares
Forfeited (in shares) | shares	(1)
Forfeited, weighted average exercise price (in dollars per share) | $ / shares	$ 19.40
Outstanding (in shares) | shares	2,684
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 18.86
Outstanding at April 30, 2018 (Year)	4 years 73 days
Outstanding at April 30, 2018 | $	$ 66,381
Vested and exercisable (in shares) | shares	1,734
Vested and exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 15.24
Vested and exercisable, weighted average remaining contractual term (Year)	3 years 36 days
Vested and exercisable, aggregate intrinsic value | $	$ 48,961

Note 13 - Business Segment In56

Note 13 - Business Segment Information (Details Textual)	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Number of Geographic Locations	4
Number of Operating Segments	1
Geographic Concentration Risk [Member] | North America Revenue [Member] | CANADA
Concentration Risk, Percentage	2.00%	1.00%

Note 13 - Business Segment In57

Note 13 - Business Segment Information - Revenue by Region (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2018	Apr. 30, 2017
Revenues		$ 86,190	$ 71,382
North America [Member]
Revenues		40,025	33,370
EMEA [Member]
Revenues		25,087	20,881
Asia Pacific [Member]
Revenues		12,559	12,166
Latin America [Member]
Revenues		8,519	4,965
Reportable Geographical Components [Member] | North America [Member]
Revenues	[1]	40,025	33,370
Reportable Geographical Components [Member] | EMEA [Member]
Revenues		25,087	20,881
Reportable Geographical Components [Member] | Asia Pacific [Member]
Revenues		12,559	12,166
Reportable Geographical Components [Member] | Latin America [Member]
Revenues		$ 8,519	$ 4,965
[1]	Sales into Canada accounted for 2% and 1% of North America total revenue in the three and three months ended April 30, 2018 and 2017, respectively.