Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Sep. 30, 2013 | Nov. 11, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'GREENWAY MEDICAL TECHNOLOGIES INC | ' |
Entity Central Index Key | '0001080747 | ' |
Trading Symbol | 'gway | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 1,000 |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $6,192 | $3,184 |
Short-term investments | 1,306 | 8,043 |
Accounts receivable, net of $980 and $900 in allowance for doubtful accounts | 22,007 | 21,151 |
Prepaids and other current assets | 4,412 | 4,056 |
Deferred tax assets | 2,557 | 2,407 |
Total current assets | 36,474 | 38,841 |
Property and equipment, net | 27,839 | 28,416 |
Software development cost, net | 31,505 | 28,142 |
Acquired intangibles, net | 1,734 | 1,819 |
Deferred tax assets - noncurrent | 28,549 | 26,903 |
Goodwill | 1,540 | 1,540 |
Other assets | 467 | 468 |
Total assets | 128,108 | 126,129 |
Current liabilities: | ' | ' |
Accounts payable | 14,581 | 9,325 |
Accrued liabilities | 6,782 | 5,846 |
Deferred revenue | 8,583 | 9,323 |
Total current liabilities | 29,946 | 24,494 |
Commitments and contingencies | ' | ' |
Shareholders' equity: | ' | ' |
Common stock | 3 | 3 |
Additional paid-in capital | 246,756 | 245,412 |
Accumulated deficit | -148,597 | -143,780 |
Total shareholders' equity | 98,162 | 101,635 |
Total liabilities and shareholders' equity | $128,108 | $126,129 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for doubtful accounts | $980 | $900 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue: | ' | ' |
System sales | $8,512 | $9,035 |
Training and consulting services | 3,984 | 6,863 |
Support services | 12,263 | 10,292 |
Electronic data interchange and business services | 8,871 | 6,584 |
Total revenue | 33,630 | 32,774 |
Cost of revenue: | ' | ' |
System sales | 6,156 | 3,007 |
Training and consulting services | 3,564 | 4,602 |
Support services | 3,423 | 3,125 |
Electronic data interchange and business services | 5,832 | 4,194 |
Total cost of revenue | 18,975 | 14,928 |
Gross profit | 14,655 | 17,846 |
Operating expenses: | ' | ' |
Sales, general and administrative | 16,729 | 13,324 |
Research and development | 4,535 | 4,772 |
Total operating expenses | 21,264 | 18,096 |
Loss from operations | -6,609 | -250 |
Interest income, net | 18 | 289 |
Other expense, net | -19 | -24 |
(Loss) income before provision for income taxes | -6,610 | 15 |
(Benefit) provision for income taxes | -1,793 | 7 |
Net (loss) income | ($4,817) | $8 |
Net (loss) income per share: | ' | ' |
Basic (in dollars per share) | ($0.16) | ' |
Diluted (in dollars per share) | ($0.16) | ' |
Weighted average number of common shares outstanding | ' | ' |
Basic (in shares) | 29,800 | 29,295 |
Diluted (in shares) | 29,800 | 30,603 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net (loss) income | ($4,817) | $8 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ' | ' |
Stock-based compensation expense | 1,060 | 1,099 |
Deferred income tax benefit | -1,796 | ' |
Depreciation and amortization | 2,952 | 1,784 |
Provision for bad debts | 293 | 345 |
Changes in current assets and liabilities: | ' | ' |
Accounts receivable | -1,150 | 4,248 |
Prepaids and other assets | -355 | -639 |
Accounts payable and accrued liabilities | 6,192 | -3,940 |
Deferred revenue | -740 | -542 |
Net cash provided by operating activities | 1,639 | 2,363 |
Cash flows from investing activities: | ' | ' |
Sale (purchase) of short-term investments, net | 6,737 | -306 |
Purchases of property and equipment | -843 | -1,252 |
Capitalized software development costs | -4,810 | -2,856 |
Net cash provided by (used in) investing activities | 1,084 | -4,414 |
Cash flows from financing activities: | ' | ' |
Payments on obligation for acquired technology | ' | -23 |
Proceeds from exercise of stock options and warrants | 285 | 1,464 |
Net cash provided by financing activities | 285 | 1,441 |
Net increase (decrease) in cash and cash equivalents | 3,008 | -610 |
Cash and cash equivalents at beginning of period | 3,184 | 5,585 |
Cash and cash equivalents at end of period | 6,192 | 4,975 |
Supplemental cash flow information: | ' | ' |
Cash paid for interest | 7 | 5 |
Cash paid for taxes | $55 | $7 |
Basis_of_Presentation_and_Desc
Basis of Presentation and Description of Company | 3 Months Ended |
Sep. 30, 2013 | |
Basis Of Presentation and Description Of Company [Abstract] | ' |
Basis of Presentation and Description of Company | ' |
Note 1. Basis of Presentation and Description of Company | |
We prepared the accompanying interim condensed and consolidated financial statements in accordance with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. We believe these condensed consolidated financial statements reflect all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation. Operating results for the three months ended September 30, 2013, are not necessarily indicative of the results that may be expected for our fiscal year ending June 30, 2014. For more information regarding our results of operations and financial position, refer to the consolidated financial statements and footnotes included in our Form 10-K for our fiscal year ended June 30, 2013, on file with the Securities and Exchange Commission (“SEC”). | |
As appropriate to the context, “Greenway”, the “Company”, “we”, “us” and “our” are used interchangeably to refer to Greenway Medical Technologies, Inc. and its subsidiary, originally incorporated in Georgia in 1998. We develop, market and sell an integrated suite of healthcare technology solutions, including practice management and electronic medical record software applications, and related technologies and services for physician practices, clinics and other providers in ambulatory settings throughout the United States. The Company is subject to the risks and challenges similar to other companies in the health care information technology market including, but not limited to, operating in a rapidly evolving market, competition from larger companies, dependence on new products and on key personnel, as well as the regulatory requirements in the healthcare information environment. | |
Greenway Medical Technologies, Inc. acquired the assets of GHN-Online, Inc. (“GHN”) (See Note 5) effective December 31, 2012 and, in conjunction with the acquisition, formed Greenway, LLC, a wholly-owned subsidiary. The acquisition was accounted for as a purchase business combination. The results of GHN’s operations are included in the Company’s consolidated financial statements for the periods subsequent to the effective date of the acquisition. All intercompany transactions have been eliminated in the accompanying consolidated financial statements. |
Accounting_Policies
Accounting Policies | 3 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Accounting Policies | ' |
Note 2. Accounting Policies | |
Our accounting policies are consistent with those described in our Significant Accounting Policies for our fiscal year ended June 30, 2013, in our Form 10-K filed with the SEC. | |
Concentration of credit risk | |
Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, cash equivalents and trade accounts receivable. The Company maintains cash and cash equivalents with various financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company’s investment strategy. Trade receivables are unsecured and the Company is at risk to the extent such amounts become uncollectible. | |
For the three months ended September 30, 2013, the Company had one customer that accounted for 17% of consolidated revenue and the same customer accounted for 15% of total accounts receivable at each of September 30, 2013 and June 30, 2013. |
ShortTerm_Investments
Short-Term Investments | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule Of Investments [Abstract] | ' | ||||||||
Short-Term Investments | ' | ||||||||
Note 3. Short-Term Investments | |||||||||
Short-term investments consist of mutual funds, money market funds and U.S. agency and corporate bonds with original maturities greater than three months and remaining maturities of less than one year. Investments are also made in corporate bonds with original maturities of greater than one year but maximum remaining maturities of 18 months; these investments are also included in short-term investments since the Company’s intent is to convert them into cash as may be necessary to meet liquidity needs. At September 30, 2013, all of the Company’s investments were classified as available-for-sale and are reported at fair value with any changes in market value reported as a part of comprehensive income. As of September 30, 2013, gross accumulated unrealized gains and losses for these investments were not material. Fair value is based on the Level 1 or 2 criteria of the fair value hierarchy specified in ASC 820-10, Fair Value Measurements and Disclosures. | |||||||||
The Company applies ASC 820, Fair Value Measurements and Disclosures, with respect to fair value of (a) nonfinancial assets and liabilities that are recognized or disclosed at fair value in the Company’s consolidated financial statements on a recurring basis and (b) all financial assets and liabilities. ASC 820 prioritizes the inputs used in measuring fair value as follows: Level 1 — Quoted market prices in active markets for identical assets or liabilities; Level 2 — Observable inputs other than those included in Level 1 (for example, quoted market prices for similar assets in active markets or quoted market prices for identical assets in inactive markets); and Level 3 — Unobservable inputs reflecting management’s own assumptions about the inputs used in estimating the value of the asset. The Company’s financial instruments consist primarily of short term investments, which are measured using Level 1 inputs. All of the investments were identified as Level 1 at September 30, 2013 and June 30, 2013. The Company did not identify any transfers among levels of the fair value measurements hierarchy during the three month period ended September 30, 2013 or the fiscal year ended June 30, 2013. | |||||||||
Short-Term Investments (available-for-sale-securities) consist of the following (in thousands): | |||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Mutual funds | $ | 1,024 | $ | 7,946 | |||||
Corporate bonds | 84 | 84 | |||||||
Money market funds | 198 | 13 | |||||||
Total | $ | 1,306 | $ | 8,043 |
Property_and_Equipment
Property and Equipment | 3 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||
Property and Equipment | ' | ||||||||||
Note 4. Property and Equipment | |||||||||||
Property and equipment consist of the following (in thousands): | |||||||||||
Estimated | |||||||||||
useful lives | 30-Sep-13 | 30-Jun-13 | |||||||||
(in years) | |||||||||||
Land | — | $ | 1,287 | $ | 1,287 | ||||||
Building and related | 15 to 39 | 18,053 | 18,053 | ||||||||
Acquired technology | 3 | 7,581 | 7,581 | ||||||||
Purchased software | 3 | 6,124 | 5,874 | ||||||||
Furniture and fixtures | 5 | 1,656 | 1,582 | ||||||||
Equipment | 3 | 5,281 | 4,876 | ||||||||
39,982 | 39,253 | ||||||||||
Less - Accumulated depreciation and amortization | (12,529 | ) | (11,109 | ) | |||||||
27,453 | 28,144 | ||||||||||
Construction in progress | 386 | 272 | |||||||||
Total | $ | 27,839 | $ | 28,416 | |||||||
Construction of New Facilities and Real Estate Tax Incentive Transaction | |||||||||||
In December 2011, we entered into a sale-leaseback transaction pursuant to which we sold certain land and a building under development as our new administrative headquarters located in Carrollton, Georgia. The transaction contemplates an ultimate total purchase price of approximately $12 million. This agreement is intended to permit counties to attract business investment by offering property tax incentives. In accordance with Georgia law, we entered into this sale-leaseback agreement with the Carroll County Payroll Development Authority (the “County”) and acquired an industrial revenue bond. The arrangement is structured so that our lease payments to the County equal and offset the County’s bond payments to the Company. The Bond is non-recourse to the County, our lease payments are pledged to secure repayment of the Bond, and the lease and bond provide for the legal right of offset. Consequently, the investment and lease obligation related to this arrangement have been offset in our balance sheet. The agreement has an expiration date of 2021. If we had not entered into this transaction, property tax payments would have been higher. We can reacquire such property and terminate the agreement at a nominal price of ten dollars. The subject property was included in property and equipment at September 30, 2013 and June 30, 2013, in the accompanying consolidated balance sheets. | |||||||||||
Software Development Costs | |||||||||||
We apply the provisions of ASC 985-20, Software, Costs of Computer Software to be Sold, Leased or Marketed, which requires the capitalization of costs incurred in connection with the research and development of new software products and enhancements once technological feasibility is established. Such costs are amortized on a straight-line basis over the estimated economic life of the related product, which is typically three years. The establishment of technological feasibility and the ongoing assessment of the recoverability of these costs require considerable judgment by management with respect to certain external factors including, but not limited to, anticipated future gross product revenue, estimated economic life, and changes in technology. Capitalized software development costs were $4,810,000 and $2,856,000 for the three months ended September 30, 2013 and 2012, respectively. Amortization of capitalized software development costs was $1,447,000 and $1,000,000 for the three months ended September 30, 2013 and 2012, respectively, and is recorded in cost of system sales. |
Acquisition
Acquisition | 3 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Acquisition | ' | |||||||
Note 5. Acquisition | ||||||||
The Company has accounted for all business combinations using the purchase method to record a new cost basis for the assets acquired and liabilities assumed. The Company allocated the purchase price to intangible assets representing developed technology, customer relationships, trademarks, and non-competition agreements. The excess of purchase price over the estimated fair value of the tangible assets acquired and liabilities assumed and the separately recognized intangible assets has been recorded as goodwill in the accompanying consolidated financial statements. The goodwill is attributable to synergies achieved through the streamlining of operations combined with improved margins attainable from increased market presence. None of the acquisitions have a material impact on the Company’s operations. The carrying value of goodwill is evaluated annually for potential impairment or whenever changes in circumstances may indicate that impairment has occurred. The goodwill is deductible for tax purposes. | ||||||||
On December 31, 2012, we acquired certain assets of GHN in exchange for cash consideration totaling $5.5 million. Additionally, the Company incurred transaction costs totaling approximately $145,000; GHN provides clearinghouse and revenue cycle services to healthcare providers and we believe the technology acquired will enable us to offer better solutions to connect our customers with their payers for the purposes of improving their revenue cycle management processes and outcomes. Based on estimated fair value of the working capital, property and equipment and identifiable intangibles, the consideration of $5.5 million was allocated to the assets acquired in the following amounts: | ||||||||
Assets Acquired | Estimated | Estimated Useful | ||||||
Fair Value | Life (in years) | |||||||
(in thousands) | ||||||||
Net Working Capital | $ | 69 | Not Applicable | |||||
Property and Equipment | 352 | 3 | ||||||
Developed Technology | 2,437 | 3 | ||||||
Customer Relationships | 1,054 | 9 | ||||||
Non-competition Agreements | 211 | 5-Mar | ||||||
Trademarks | 277 | 10 | ||||||
Goodwill | 1,100 | Indefinite | ||||||
Total fair value of consideration | $ | 5,500 |
Transactions_with_Related_Part
Transactions with Related Parties | 3 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Transactions with Related Parties | ' |
Note 6. Transactions with Related Parties | |
Effective July 1, 2000, the Company entered into an agreement to lease the corporate office from Green Family Real Estate, LLC, an entity controlled by the Company’s Chairman, for approximately $20,000 per month, plus annual adjustments for inflation, until June 30, 2015 (see Note 11). In 2000, the Company entered into an agreement to rent an airplane from Greenway Air, LLC, an entity controlled by the Company’s Chairman. The Company pays according to usage of the airplane. Expenses incurred related to this agreement were approximately $0 and $18,000 for the three months ended September 30, 2013 and 2012, respectively. In March 2002, the Company purchased a 1% interest in Greenway Air, LLC, for $12,500 and in September 2012 paid $427,000 to purchase an additional 15.75% interest. This investment is recorded at cost in the caption “Other Assets” in the accompanying consolidated balance sheets. The Company has considered the applicable guidance regarding variable interest entities. The Company has determined that these arrangements do not meet the definition of variable interest entities. | |
The Company has two institutional shareholders who, as of September 30, 2013 and June 30, 2013, collectively owned approximately 44% (25% for one investor and 19% for the other) of the Company’s common shares outstanding. One representative of each of these institutional shareholders sits on the Company’s Board of Directors. Given this substantial ownership position, these shareholders are able individually, and collectively, to exercise substantial influence over the affairs of the Company. |
Credit_Facility
Credit Facility | 3 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Credit Facility | ' |
Note 7. Credit Facility | |
In March 2011, the Company closed on a loan agreement which provides financing up to $5 million based on eligible receivables. The loan agreement carries interest at LIBOR plus 275 basis points, and is secured by a pledge of the Company’s assets. The loan agreement contains customary covenants and other provisions that prohibit payment of cash dividends. There were no amounts outstanding on the credit facility at September 30, 2013 and June 30, 2013. The Company had a letter of credit in the amount of $500,000 that reduced the availability of the loan at September 30, 2013 and June 30, 2013. Therefore, there was $4.5 million available on the facility at September 30, 2013 and June 30, 2013. On August 16, 2013, the Company executed a non-binding commitment with its lender for a $25 million, four-year facility. The commitment is subject to certain conditions. The non-binding commitment would replace the $5 million loan and has substantially the same terms and conditions. Instead of entering into such proposed $25 million credit facility, the maturity of the $5 million credit facility was extended to November 15, 2013. As a result of the Transaction (See Note 13), the Company’s $5 million credit facility was paid-off in full and canceled. |
Shareholders_Equity
Shareholders' Equity | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||
Shareholders' Equity | ' | ||||||||
Note 8. Shareholders’ Equity | |||||||||
Stock Options | |||||||||
On December 16, 2011, we received shareholder approval of the Greenway Medical Technologies, Inc. 2011 Stock Plan (the “2011 Plan”) that provides for issuance of equity awards of up to 3.0 million shares of our common stock. For the three months ended September 30, 2013 and 2012, respectively, options for 34,250 and 884,900 shares of our common stock were granted under the 2011 Plan. We also have options granted, fully-vested and outstanding under our 1999 and 2004 Stock Plan. At September 30, 2013 and 2012, approximately 3.7 million and 4.0 million options, respectively, were outstanding under the various stock compensation plans. We expense stock compensation costs over the vesting periods of each grant. For each of the three months ended September 30, 2013 and 2012 we expensed approximately $1.1 million (in each of the three month periods) in connection with outstanding option awards. As of September 30, 2013, there was $9.5 million of total unrecognized compensation cost related to option awards granted under the various Plans. This cost is expected to be recognized over a period of 2.0 years. A reconciliation of stock option expense from the consolidated statements of operations is as follows (in thousands): | |||||||||
Three Months Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Cost of revenue: | |||||||||
System sales | $ | 8 | $ | 8 | |||||
Training and consulting services | 51 | 47 | |||||||
Software support services | 26 | 26 | |||||||
Electronic data interchange and business services | 5 | 5 | |||||||
Total cost of revenue | 90 | 86 | |||||||
Operating expenses: | |||||||||
Sales, general and administrative | 800 | 843 | |||||||
Research and development | 170 | 170 | |||||||
Total operating expenses | 970 | 1,013 | |||||||
Total stock-compensation expense | $ | 1,060 | $ | 1,099 | |||||
The assumptions utilized for stock option grants were as follows: | |||||||||
Three months ended September 30, | |||||||||
2013 | |||||||||
2012 | |||||||||
Risk-free interest rate | 1.78 | % | .68% - .72 | % | |||||
Expected dividend yield | — | — | |||||||
Expected volatility | 55.9 | % | 57.7 | % | |||||
Expected lives of options | 6.25 years | 6.25 years | |||||||
Forfeiture rate | 1 | % | 1 | % | |||||
Fair Value | $8.75 | $8.24 - $8.62 |
Income_Taxes
Income Taxes | 3 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Note 9. Income Taxes | |
As of September 30, 2013, the Company had gross net operating losses (NOLs) of approximately $74 million. These NOLs will be available to offset any future taxable income and will begin to expire in 2021. The Company has also generated research credit carryforwards of approximately $4.8 million. As of September 30, 2013 and June 30, 2013, Management determined that it was more likely than not that all net deferred tax assets, except for specific state R&D income tax carryforwards, would be fully realized based upon future projections of taxable income. Consequently, the Company recorded a valuation allowance of $784,000 specifically attributable to the state R&D tax carryforwards that may not be fully utilized before the Company’s income allocated to those states use up the existing net operating losses. | |
The tax provision for the periods ended September 30, 2013 and 2012 reflect an effective tax rate of 27% and 46%, respectively. Permanent differences, primarily stock-based compensation and income tax credits impact the operating loss of $6,610,000 for the three months ended September 30, 2013 more than the income before income tax of $15,000 for the three months ended September 30, 2012. Stock-based compensation expenses of $1,060,000 are recorded currently as a deduction to the consolidated statement of operations but are not available for tax deduction because the Company is in a net operating loss position. This is a significant driver of the lower tax rate for the three months ended September 30, 2013. | |
As of September 30, 2013 and June 30, 2013, the Company had no unrecognized tax benefits. Net operating loss and R&D credit carryforwards remain subject to examination to the extent they are carried forward and impact a year that is open to examination by tax authorities. |
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 3 Months Ended |
Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' |
Net Income (Loss) Per Share | ' |
Note 10. Net Income (Loss) Per Share | |
Basic income (loss) per share is computed by dividing net income (loss) by the sum of the weighted average number of common shares outstanding during the period. Diluted per share amounts give effect to all potentially dilutive common share equivalents outstanding during the period. Such potentially dilutive common share equivalents include stock options exercisable for shares of common stock totaling approximately 1.0 and 1.3 million shares for the three months ended September 30, 2013 and 2012, respectively. The dilutive effect of outstanding stock options is computed using the treasury stock method. The computation of diluted loss per share does not assume conversion, exercise, or contingent exercise of securities that would have an anti-dilutive effect on earnings and inasmuch as inclusion of any or all of the potentially dilutive common share equivalents is anti-dilutive for the three months ended September 30, 2013, presentation of loss per share — basic and diluted are the same for the periods presented. There were no such anti-dilutive securities that were excluded from the calculation of common shares outstanding as of September 30, 2012, however, the net income per share, did not result in a basic or fully dilutive per share amount as it was not significant for presentation (the gross dollar amounts of earnings per share were not sufficiently significant to derive a meaningful per share calculation). |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Note 11. Commitments and Contingencies | |
We are engaged from time to time in certain legal disputes arising in the ordinary course of business, including employment claims, and challenges to our intellectual property. We believe we have adequate legal defenses and that the likelihood of a loss contingency relating to the ultimate disposition of any of these disputes is remote. When the likelihood of a loss contingency becomes at least reasonably possible, we will revise our disclosures in accordance with the relevant authoritative guidance. In addition, we will accrue a liability for loss contingencies when we believe that it is both probable that a liability has been incurred and that we can reasonably estimate the amount of the loss. There were no filed claims pending against the Company at September 30, 2013. There are, however, asserted unfilled claims that, given the early stage of these legal matters and the nature of the claims, it is not possible to estimate a loss or range of loss for the ongoing claim. Management does not feel that any individual claim is material to disclose. We will continue to evaluate the potential exposure related to these matters in future periods. | |
As discussed in Note 6, the Company leases office space from related parties under operating leases through 2015. Rental expense for all building and equipment leases totaled approximately $575,000 and $407,000 for the three months ended September 30, 2013 and 2012, respectively. |
Segment_Information
Segment Information | 3 Months Ended |
Sep. 30, 2013 | |
Segment Reporting [Abstract] | ' |
Segment Information | ' |
Note 12. Segment Information | |
The Company complies with ASC Topic 280, Segment Reporting. ASC 280, which is based on a management approach to segment reporting and requires the Company to disclose information about the business components (operating segments) as utilized to make operating decisions and assess performance. The objective of this guidance is to help financial statement users understand the Company’s performance, assess prospects for future cash flows and judge the entity as a whole. An operating segment is defined as a component that engages in business activities whose operating results are reviewed by the chief operating decision maker and for which discrete financial information is available. The Company manages its resources and assesses its performance on an enterprise-wide basis. The Company does report revenue according to the nature of the products and services provided to its customers; providers in various settings within the ambulatory sector of the domestic healthcare market who share similar economic characteristics. |
Subsequent_Event
Subsequent Event | 3 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
Note 13. Subsequent Event | |
The Company was acquired by VCG Holdings, LLC, a wholly-owned indirect subsidiary of Vista Equity Partners Fund IV, L.P. (“Vista”), on November 4, 2013 (the “Transaction”). Vista commenced a tender offer for any and all of the Company’s outstanding shares at $20.35 per share with the Securities and Exchange Commission (the “SEC”) on October 4, 2013. The Company’s board of directors and stockholders approved of the terms of the tender offer and recommended to the Company’s stockholders that they tender their shares into the offer. The tender offer expired on November 1, 2013, and the acquisition was completed on the next business day, November 4, 2013. On November 5, 2013, the New York Stock Exchange filed with the SEC a Form 25, Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to delist and deregister the Company’s shares. Upon effectiveness of such Form 25, the Company intends to file with the SEC a Certification on Form 15 under the Exchange Act to suspend the Company’s remaining reporting obligations under the Exchange Act. The results of operations and cash flows from the Company subsequent to the completion of the merger and the closing of the Transaction on November 4, 2013 will no longer be public. | |
The Company recorded approximately $1.8 million of expenses related to the Transaction at September 30, 2013 in the accompanying consolidated statements of operations under the caption “Sales, general and administrative” expenses. These cost were incurred by the Company at September 30, 2013 and related to the pending Transaction. | |
On or about October 7, 2013, a putative class action lawsuit (Booth Family Trust IRA v. Greenway Medical Technologies, Inc. et al., Case No.: 13-A-08600-2) was filed in the Superior Court of the State of Georgia, County of Gwinnett, against the Company and each member of the Company’s board of directors (the “Booth Family Trust Action”). The Complaint asserts that the Company’s directors breached their fiduciary duties to the Company’s public stockholders by, among other things, (i) agreeing to sell the Company at an unfair price, (ii) implementing preclusive deal protection deterring competing, superior bids, and (iii) entering individual tender and support agreements. The Complaint sought injunctive relief, rescission, and, among other remedies, an award of costs and expenses, including a reasonable allowance for attorneys’ and experts’ fees. | |
On or about October 9, 2013, the Complaint in the Booth Family Trust Action was amended to include allegations, among others, that (i) the proposed transaction is financially unfair to the Company’s stockholders, (ii) the process undertaken by the Company when entering into the Merger Agreement with Vista’s affiliates was inadequate and flawed, and (iii) the Schedule 14D-9 failed to disclose all material facts and/or provided misleading information regarding the proposed transaction to the Company’s stockholders. | |
On October 25, 2013, solely to avoid the costs, risks and uncertainties inherent in litigation, and without admitting any liability or wrongdoing, the parties to the stockholder putative class action lawsuit pending in the Superior Court of the State of Georgia, County of Gwinnett, captioned Booth Family Trust IRA v. Greenway Medical Technologies, Inc. et al., Case No.: 13-A-08600-2, entered into a memorandum of understanding (the “MOU”) setting forth an agreement-in-principle to settle all claims related thereto. In connection with the MOU, the Company agreed to amend the Schedule 14D-9, previously filed with the SEC, to include certain supplemental disclosures. The settlement is subject to, among other items, the execution of a stipulation of settlement and final approval by the Superior Court of the State of Georgia. Subject to satisfaction of the conditions set forth in the MOU, the defendants, Vista and their respective affiliates, among others, will be released by the plaintiff and all members of the putative class of Company stockholders from (i) all claims concerning or arising out of the tender offer for all outstanding shares of the Company, (ii) the Agreement and Plan of Merger, dated as of September 23, 2013, by and among VCG Holdings, LLC, a Delaware limited liability company (“Parent”), Crestview Acquisition Corp., a Delaware corporation and a direct wholly-owned subsidiary of Parent (“Merger Sub”), and the Company, (iii) the merger by which Greenway and Merger Sub merged, with Greenway continuing as the surviving corporation as a direct, wholly–owned subsidiary of Parent, and (iv) the disclosures relating to the foregoing. | |
The Booth Family Trust Action settlement and related cost were paid by Vista as a cost of the Transaction. There were no amounts accrued for the Booth Family Trust Action in the accompanying financial statements at September 30, 2013. The Transaction could result in other claims, however, there are no pending lawsuits at the time of filing this Form 10Q. |
Accounting_Policies_and_New_Ac
Accounting Policies and New Accounting Standards (Policies) | 3 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Concentration of credit risk | ' |
Concentration of credit risk | |
Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, cash equivalents and trade accounts receivable. The Company maintains cash and cash equivalents with various financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company’s investment strategy. Trade receivables are unsecured and the Company is at risk to the extent such amounts become uncollectible. | |
For the three months ended September 30, 2013, the Company had one customer that accounted for 17% of consolidated revenue and the same customer accounted for 15% of total accounts receivable at each of September 30, 2013 and June 30, 2013. |
ShortTerm_Investments_Tables
Short-Term Investments (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule Of Investments [Abstract] | ' | ||||||||
Schedule of available-for-sale-securities | ' | ||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Mutual funds | $ | 1,024 | $ | 7,946 | |||||
Corporate bonds | 84 | 84 | |||||||
Money market funds | 198 | 13 | |||||||
Total | $ | 1,306 | $ | 8,043 |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 3 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||
Schedule of property and equipment | ' | ||||||||||
Estimated | |||||||||||
useful lives | 30-Sep-13 | 30-Jun-13 | |||||||||
(in years) | |||||||||||
Land | — | $ | 1,287 | $ | 1,287 | ||||||
Building and related | 15 to 39 | 18,053 | 18,053 | ||||||||
Acquired technology | 3 | 7,581 | 7,581 | ||||||||
Purchased software | 3 | 6,124 | 5,874 | ||||||||
Furniture and fixtures | 5 | 1,656 | 1,582 | ||||||||
Equipment | 3 | 5,281 | 4,876 | ||||||||
39,982 | 39,253 | ||||||||||
Less - Accumulated depreciation and amortization | (12,529 | ) | (11,109 | ) | |||||||
27,453 | 28,144 | ||||||||||
Construction in progress | 386 | 272 | |||||||||
Total | $ | 27,839 | $ | 28,416 |
Acquisition_Tables
Acquisition (Tables) | 3 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Schedule of estimated fair value of the identifiable intangibles | ' | |||||||
Assets Acquired | Estimated | Estimated Useful | ||||||
Fair Value | Life (in years) | |||||||
(in thousands) | ||||||||
Net Working Capital | $ | 69 | Not Applicable | |||||
Property and Equipment | 352 | 3 | ||||||
Developed Technology | 2,437 | 3 | ||||||
Customer Relationships | 1,054 | 9 | ||||||
Non-competition Agreements | 211 | 5-Mar | ||||||
Trademarks | 277 | 10 | ||||||
Goodwill | 1,100 | Indefinite | ||||||
Total fair value of consideration | $ | 5,500 |
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||
Schedule of unrecognized compensation cost related to option awards granted under the various plan | ' | ||||||||
Three Months Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Cost of revenue: | |||||||||
System sales | $ | 8 | $ | 8 | |||||
Training and consulting services | 51 | 47 | |||||||
Software support services | 26 | 26 | |||||||
Electronic data interchange and business services | 5 | 5 | |||||||
Total cost of revenue | 90 | 86 | |||||||
Operating expenses: | |||||||||
Sales, general and administrative | 800 | 843 | |||||||
Research and development | 170 | 170 | |||||||
Total operating expenses | 970 | 1,013 | |||||||
Total stock-compensation expense | $ | 1,060 | $ | 1,099 | |||||
Schedule of assumptions utilized for stock option grants | ' | ||||||||
Three months ended September 30, | |||||||||
2013 | |||||||||
2012 | |||||||||
Risk-free interest rate | 1.78 | % | .68% - .72 | % | |||||
Expected dividend yield | — | — | |||||||
Expected volatility | 55.9 | % | 57.7 | % | |||||
Expected lives of options | 6.25 years | 6.25 years | |||||||
Forfeiture rate | 1 | % | 1 | % | |||||
Fair Value | $8.75 | $8.24 - $8.62 |
Accounting_Policies_Detail_Tex
Accounting Policies (Detail Textuals ) (Credit concentration risk) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Jun. 30, 2013 | |
Customer | Customer | |
Sales Revenue | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Number of customer | 1 | ' |
Concentration risk percentage | 17.00% | ' |
Accounts Receivable | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Number of customer | 1 | 1 |
Concentration risk percentage | 15.00% | 15.00% |
ShortTerm_Investments_Details
Short-Term Investments (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | $1,306 | $8,043 |
Mutual funds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | 1,024 | 7,946 |
Corporate bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | 84 | 84 |
Money market funds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale securities | $198 | $13 |
Property_and_Equipment_Summary
Property and Equipment - Summary of Property and equipment (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Gross | $39,982 | $39,253 |
Less - Accumulated depreciation and amortization | -12,529 | -11,109 |
Property, plant and equipment excluding construction in progress | 27,453 | 28,144 |
Construction in progress | 386 | 272 |
Total | 27,839 | 28,416 |
Land | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, Gross | 1,287 | 1,287 |
Building and related | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives | '15 to 39 years | ' |
Property and equipment, Gross | 18,053 | 18,053 |
Acquired technology | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives | '3 years | ' |
Property and equipment, Gross | 7,581 | 7,581 |
Purchased software | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives | '3 years | ' |
Property and equipment, Gross | 6,124 | 5,874 |
Furniture and fixtures | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives | '5 years | ' |
Property and equipment, Gross | 1,656 | 1,582 |
Equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives | '3 years | ' |
Property and equipment, Gross | $5,281 | $4,876 |
Property_and_Equipment_Detail_
Property and Equipment (Detail Textuals) (USD $) | Sep. 30, 2013 | Dec. 31, 2011 |
In Millions, except Per Share data, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Land and building sold into a sale-leaseback transaction | ' | $12 |
Nominal price of termination agreement | $10 | ' |
Property_and_Equipment_Detail_1
Property and Equipment (Detail Textuals 1) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Property, Plant and Equipment [Line Items] | ' | ' |
Capitalized software development cost | $4,810,000 | $2,856,000 |
Software Development | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Intangible assets amortization method | 'straight-line basis | ' |
Estimated economic life | '3 years | ' |
Capitalized software development cost | 4,810,000 | 2,856,000 |
Amortization of capitalized software development costs | $1,447,000 | $1,000,000 |
Acquisitions_Acquisition_of_as
Acquisitions- Acquisition of assets of GHN-Online, Inc. (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | GHN-Online, Inc. (GHN) | GHN-Online, Inc. (GHN) | GHN-Online, Inc. (GHN) | GHN-Online, Inc. (GHN) | GHN-Online, Inc. (GHN) | GHN-Online, Inc. (GHN) | GHN-Online, Inc. (GHN) | ||
Property and Equipment | Developed Technology | Customer Relationships | Non-competition Agreements | Trademarks | Goodwill | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Working Capital | ' | ' | $69 | ' | ' | ' | ' | ' | ' |
Property and Equipment | ' | ' | 352 | ' | ' | ' | ' | ' | ' |
Developed Technology | ' | ' | 2,437 | ' | ' | ' | ' | ' | ' |
Customer Relationships | ' | ' | 1,054 | ' | ' | ' | ' | ' | ' |
Non-competition Agreements | ' | ' | 211 | ' | ' | ' | ' | ' | ' |
Trademarks | ' | ' | 277 | ' | ' | ' | ' | ' | ' |
Goodwill | 1,540 | 1,540 | 1,100 | ' | ' | ' | ' | ' | ' |
Total fair value of consideration | ' | ' | $5,500 | ' | ' | ' | ' | ' | ' |
Estimated useful life | ' | ' | ' | '3 years | '3 years | '9 years | '3-5 years | '10 years | 'Indefinite |
Acquisition_Detail_Textuals
Acquisition (Detail Textuals) (GHN-Online, Inc. (GHN), USD $) | 1 Months Ended |
Dec. 31, 2012 | |
GHN-Online, Inc. (GHN) | ' |
Business Acquisition [Line Items] | ' |
Business acquisition, cash consideration | $5,500,000 |
Business acquisition, transaction cost, total | $145,000 |
Transactions_with_Related_Part1
Transactions with Related Parties (Detail Textuals) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Jul. 01, 2000 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2002 | Sep. 30, 2012 | Mar. 31, 2002 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 |
Institutional_shareholder | Institutional_shareholder | Green Family Real Estate, LLC | Greenway Air, LLC | Greenway Air, LLC | Greenway Air, LLC | Greenway Air, LLC | Greenway Air, LLC | First Investor | First Investor | Second Investor | Second Investor | |
Other Assets | Other Assets | |||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Agreement to lease the corporate office per month | ' | ' | $20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aircraft hourly rental | ' | ' | ' | 0 | 18,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage equity interest acquired | ' | ' | ' | ' | 15.75% | 1.00% | ' | ' | ' | ' | ' | ' |
Investment is recorded at cost | ' | ' | ' | ' | ' | ' | $427,000 | $12,500 | ' | ' | ' | ' |
Number of institutional shareholders | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of institutional shareholders collectively owned | 44.00% | 44.00% | ' | ' | ' | ' | ' | ' | 25.00% | 25.00% | 19.00% | 19.00% |
Credit_Facility_Detail_Textual
Credit Facility (Detail Textuals) (USD $) | 1 Months Ended | 3 Months Ended | 0 Months Ended | |||
Mar. 31, 2011 | Sep. 30, 2013 | Jun. 30, 2013 | Aug. 16, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | |
Line of Credit | Line of Credit | Line of Credit | Line of Credit | Letter of credit | Letter of credit | |
New Loan Agreement | ||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' |
Current financing | $5,000,000 | ' | ' | $25,000,000 | ' | ' |
Interest rate description | 'LIBOR plus 275 basis points | ' | ' | ' | ' | ' |
Basis spread on variable rate | 2.75% | ' | ' | ' | ' | ' |
Line of credit available | ' | 4,500,000 | 4,500,000 | ' | ' | ' |
Letter of credit, amount | ' | ' | ' | ' | 500,000 | 500,000 |
Term of credit facility | ' | ' | ' | '4 years | ' | ' |
Line of credit facility, paid off in full and canceled | ' | $5,000,000 | ' | ' | ' | ' |
Shareholders_Equity_Details
Shareholders' Equity (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cost of revenue: | ' | ' |
Training and consulting services | $3,564 | $4,602 |
Total cost of revenue | 18,975 | 14,928 |
Operating expenses: | ' | ' |
Sales, general and administrative | 16,729 | 13,324 |
Research and development | 4,535 | 4,772 |
Total operating expenses | 21,264 | 18,096 |
Share-based Compensation | 1,060 | 1,099 |
Stock Options | ' | ' |
Cost of revenue: | ' | ' |
System sales | 8 | 8 |
Training and consulting services | 51 | 47 |
Software support services | 26 | 26 |
Electronic data interchange and business services | 5 | 5 |
Total cost of revenue | 90 | 86 |
Operating expenses: | ' | ' |
Sales, general and administrative | 800 | 843 |
Research and development | 170 | 170 |
Total operating expenses | 970 | 1,013 |
Share-based Compensation | $1,060 | $1,099 |
Shareholders_Equity_Details_1
Shareholders' Equity (Details 1) (Stock Options, USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Risk-free interest rate | 1.78% | ' |
Risk-free interest rate minimum | ' | 0.68% |
Risk-free interest rate maximum | ' | 0.72% |
Expected dividend yield | ' | ' |
Expected volatility | 55.90% | 57.70% |
Expected lives of options | '6 years 3 months | '6 years 3 months |
Forfeiture rate | 1.00% | 1.00% |
Fair Value | $8.75 | ' |
Minimum | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Fair Value | ' | 8.24 |
Maximum | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Fair Value | ' | 8.62 |
Shareholders_Equity_Detail_Tex
Shareholders' Equity (Detail Textuals) (USD $) | 3 Months Ended | 3 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 16, 2011 | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Options | Stock Options | Stock Plan 2011 | Stock Plan 2011 | Stock Plan 2011 | |
Stock Options | Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Issuance of common stock awards authorized | ' | ' | 3,000,000 | ' | ' |
Number of shares common stock granted | ' | ' | ' | 34,250 | 884,900 |
Number of options outstanding | 3,700,000 | 4,000,000 | ' | ' | ' |
Share based compensation expenses | $1.10 | $1.10 | ' | ' | ' |
Unrecognized compensation cost | $9.50 | ' | ' | ' | ' |
Expected recognition period for unrecognized compensation cost | '2 years | ' | ' | ' | ' |
Income_Taxes_Detail_textuals
Income Taxes (Detail textuals) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' |
Net operating losses | $74,000,000 | ' |
Research credit carryforwards | 4,800,000 | ' |
Valuation allowance attributable to the state R&D tax carryforwards | 784,000 | ' |
Effective rate | 27.00% | 46.00% |
Operating loss before income tax | -6,610,000 | 15,000 |
Stock-based compensation expenses | $1,060,000 | $1,099,000 |
Net_Income_Loss_Per_Share_Deta
Net Income (Loss) Per Share (Detail Textuals) (Stock Options) | 3 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Options | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Outstanding stock options exercisable for common shares (in shares) | 1 | 1.3 |
Commitments_and_Contingencies_
Commitments and Contingencies (Detail Textuals) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Leases [Abstract] | ' | ' |
Rental expenses recognized for building and equipment leases | $575,000 | $407,000 |
Subsequent_Event_Detail_Textua
Subsequent Event (Detail Textuals) (Vista Equity Partners, USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Nov. 04, 2013 |
Sales, general and administrative expenses | Subsequent Event | |
Subsequent Event [Line Items] | ' | ' |
Business acquisition tender offer outstanding shares, per share price | ' | $20.35 |
Expenses related to acquisition | $1.80 | ' |