DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION | 3 Months Ended | |
Jun. 30, 2014 | Aug. 07, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Covisint Corp | ' |
Entity Central Index Key | '0001563699 | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 37,892,408 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Jun. 30, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ' | ' |
Cash | $43,129 | $49,536 |
Accounts receivable, net | 18,732 | 21,838 |
Deferred tax asset, net | 677 | 1,017 |
Due from parent and affiliates | 4,136 | 2,813 |
Other current assets | 6,599 | 5,983 |
Total current assets | 73,273 | 81,187 |
PROPERTY AND EQUIPMENT, LESS ACCUMULATED DEPRECIATION AND AMORTIZATION | 4,940 | 4,751 |
CAPITALIZED SOFTWARE AND OTHER INTANGIBLE ASSETS, NET | 22,047 | 23,040 |
OTHER: | ' | ' |
Goodwill | 25,385 | 25,385 |
Deferred costs | 5,198 | 6,188 |
Deferred tax asset, net | 127 | 131 |
Other assets | 754 | 766 |
Total other assets | 31,464 | 32,470 |
TOTAL ASSETS | 131,724 | 141,448 |
CURRENT LIABILITIES: | ' | ' |
Accounts payable | 3,963 | 3,893 |
Accrued commissions | 1,245 | 1,640 |
Deferred revenue | 14,806 | 16,606 |
Accrued expenses | 3,649 | 3,752 |
Due to parent and affiliates | 0 | 0 |
Total current liabilities | 23,663 | 25,891 |
DEFERRED REVENUE | 9,119 | 11,223 |
ACCRUED LIABILITIES | 56 | 56 |
DEFERRED TAX LIABILITY, NET | 2,421 | 2,668 |
Total liabilities | 35,259 | 39,838 |
COMMITMENTS AND CONTINGENCIES | ' | ' |
Preferred stock, no par value - authorized 5,000,000 shares; none issued and outstanding | 0 | 0 |
Common stock, no par value - authorized 50,000,000 shares; issued and outstanding 37,601,019 (37,490,500 issued and outstanding as of March 31, 2014) | 0 | 0 |
Additional paid-in capital | 147,533 | 140,569 |
Retained deficit | -51,063 | -38,947 |
Accumulated other comprehensive income (loss) | -5 | -12 |
Total shareholders' equity | 96,465 | 101,610 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $131,724 | $141,448 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) | Jun. 30, 2014 | Mar. 31, 2014 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 37,601,019 | 37,490,500 |
Common stock, shares outstanding | 37,601,019 | 37,490,500 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' |
REVENUE | $21,587 | $24,101 |
COST OF REVENUE | 15,266 | 13,310 |
GROSS PROFIT | 6,321 | 10,791 |
OPERATING EXPENSES: | ' | ' |
Research and development | 3,116 | 2,585 |
Sales and marketing | 9,772 | 7,339 |
General and administrative | 5,546 | 5,534 |
Total operating expenses | 18,434 | 15,458 |
OPERATING LOSS | -12,113 | -4,667 |
Other income | 22 | 0 |
LOSS BEFORE INCOME TAX PROVISION | -12,091 | -4,667 |
INCOME TAX PROVISION | 25 | 3 |
NET LOSS | -12,116 | -4,670 |
Basic and diluted earnings (loss) per share (in dollars per share) | ($0.32) | ($0.16) |
OTHER COMPREHENSIVE INCOME, NET OF TAX | ' | ' |
Foreign currency translation adjustments | 7 | -1 |
OTHER COMPREHENSIVE INCOME, NET OF TAX | 7 | -1 |
COMPREHENSIVE LOSS | ($12,109) | ($4,671) |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $) | Total | Common Stock | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
In Thousands, except Share data, unless otherwise specified | |||||
Beginning balance at Mar. 31, 2014 | $101,610 | $0 | $140,569 | ($38,947) | ($12) |
Beginning balance (in shares) at Mar. 31, 2014 | ' | 37,490,500 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net loss | -12,116 | ' | ' | -12,116 | ' |
Parent contribution of stock awards and related taxes, net | -12 | ' | -12 | ' | ' |
Covisint stock compensation | 2,479 | ' | 2,479 | ' | ' |
Covisint stock option exercise (in shares) | 111,000 | 110,519 | ' | ' | ' |
Covisint stock option exercises | 196 | ' | 196 | ' | ' |
Income taxes | 4,301 | ' | 4,301 | ' | ' |
Foreign currency translation | 7 | ' | ' | ' | 7 |
Ending balance at Jun. 30, 2014 | $96,465 | $0 | $147,533 | ($51,063) | ($5) |
Ending balance (in shares) at Jun. 30, 2014 | ' | 37,601,019 | ' | ' | ' |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES: | ' | ' |
Net loss | ($12,116) | ($4,670) |
Adjustments to reconcile net income (loss) to cash provided by (used in) operations: | ' | ' |
Depreciation and amortization | 2,343 | 2,092 |
Deferred income taxes | -53 | 4 |
Stock award compensation | 2,619 | 486 |
Net change in assets and liabilities: | ' | ' |
Accounts receivable | 3,108 | 2,538 |
Other assets | 458 | 618 |
Accounts payable and accrued expenses | -438 | -1,078 |
Deferred revenue | -3,898 | -275 |
Net cash provided by (used in) operating activities | -7,977 | -285 |
CASH FLOWS USED IN INVESTING ACTIVITIES: | ' | ' |
Property and equipment | -820 | -171 |
Capitalized software | -790 | -1,952 |
Net cash used in investing activities | -1,610 | -2,123 |
CASH FLOWS PROVIDED BY FINANCING ACTIVITES: | ' | ' |
Cash payments to parent company | 8,775 | 26,224 |
Cash payments to parent company | -5,787 | -23,103 |
Initial public offering costs | 0 | -299 |
Net proceeds from exercise of stock awards | 196 | 0 |
Net cash provided by financing activities | 3,184 | 2,822 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | -4 | 8 |
NET CHANGE IN CASH | -6,407 | 422 |
CASH AT BEGINNING OF PERIOD | 49,536 | 966 |
CASH AT END OF PERIOD | $43,129 | $1,388 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation - The accompanying unaudited condensed consolidated financial statements (“Financial Statements”) include the accounts of Covisint Corporation and subsidiaries, a Michigan corporation majority-owned by Compuware Corporation (“Compuware” or the “Parent”). | |
The Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), for interim financial information and with the instructions of Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, contingencies and results of operations. While management has based its assumptions and estimates on the facts and circumstances existing at June 30, 2014, final amounts may differ from these estimates. In the opinion of the Company’s management, the accompanying Financial Statements reflect all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. | |
The Company evaluated subsequent events through the date its financial statements were issued. | |
These financial statements should be read in conjunction with the Company's 2014 Annual Report on Form 10-K. Prior to April 1, 2014, the Compuware allocation was recorded within general and administrative expense. Effective April 1, 2014, the allocation was replaced with actual expenses and these have been recorded in each respective line item. Other than this allocation, there have been no significant changes to the Company’s accounting policies as disclosed in the Company’s 2014 Annual Report on Form 10-K. | |
Recently Issued Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” The amendments in this ASU provide guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date and are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Company adopted this ASU effective April 1, 2014, and the adoption did not have a significant impact on the Company's financial statements. | |
In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)," a new comprehensive revenue recognition standard that will supersede all existing revenue recognition guidance under U.S. GAAP. The standard's core principle is that revenue should be recognized as goods or services are transferred to a customer in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective for annual and interim periods beginning on or after December 15, 2016, and early adoption is not permitted. Entities will have the option of using either a full retrospective approach or a modified approach to adopt the guidance in the ASU. The Company is currently evaluating the impact of adopting this guidance. |
CAPITALIZED_SOFTWARE_AND_OTHER
CAPITALIZED SOFTWARE AND OTHER INTANGIBLE ASSETS | 3 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
CAPITALIZED SOFTWARE AND OTHER INTANGIBLE ASSETS | ' | |||||||||||||||||||
CAPITALIZED SOFTWARE AND OTHER INTANGIBLE ASSETS | ||||||||||||||||||||
The components of the Company’s intangible assets are as follows (in thousands): | ||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||
Amount | Amortization | Amount | ||||||||||||||||||
Indefinite-lived intangible assets: | ||||||||||||||||||||
Trademarks(1) | $358 | $358 | ||||||||||||||||||
Amortizing intangible assets: | ||||||||||||||||||||
Capitalized software(2) | $49,778 | ($28,772 | ) | $21,006 | ||||||||||||||||
Customer relationship agreements(3) | 4,715 | (4,032 | ) | 683 | ||||||||||||||||
Trademarks(4) | 340 | (340 | ) | — | ||||||||||||||||
Total amortizing intangible assets | $54,833 | ($33,144 | ) | $21,689 | ||||||||||||||||
March 31, 2014 | ||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||
Amount | Amortization | Amount | ||||||||||||||||||
Indefinite-lived intangible assets: | ||||||||||||||||||||
Trademarks(1) | $358 | $358 | ||||||||||||||||||
Amortizing intangible assets: | ||||||||||||||||||||
Capitalized software(2) | $48,989 | ($27,067 | ) | $21,922 | ||||||||||||||||
Customer relationship agreements(3) | 4,715 | (3,955 | ) | 760 | ||||||||||||||||
Trademarks(4) | 340 | (340 | ) | — | ||||||||||||||||
Total amortizing intangible assets | $54,044 | ($31,362 | ) | $22,682 | ||||||||||||||||
_____________________________________________________ | ||||||||||||||||||||
-1 | The Covisint trademarks were acquired by Compuware in an acquisition in March 2004. These trademarks are deemed to have an indefinite life and therefore are not being amortized. | |||||||||||||||||||
-2 | Amortization of capitalized software is included in “cost of revenue” in the condensed consolidated statements of comprehensive loss. Capitalized software is generally amortized over five years. | |||||||||||||||||||
-3 | Amortization of customer relationship agreements is included in “sales and marketing” in the condensed consolidated statements of comprehensive loss. Customer relationship agreements were acquired as part of acquisitions and are being amortized over periods up to six years. | |||||||||||||||||||
-4 | Amortization of trademarks is included in “general and administrative” in the condensed consolidated statements of comprehensive loss. Trademarks were acquired as part of acquisitions and are being amortized over three years. | |||||||||||||||||||
Amortization expense of intangible assets was $1.8 million and $1.7 million for the three months ended June 30, 2014 and 2013, respectively. Estimated future amortization expense, based on identified intangible assets at June 30, 2014, is expected to be as follows (in thousands): | ||||||||||||||||||||
At June 30, 2014 for the Year Ending March 31, | ||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||
Capitalized software | $5,170 | $6,226 | $5,277 | $3,238 | $933 | |||||||||||||||
Customer relationships | 231 | 308 | 144 | — | — | |||||||||||||||
Total | $5,401 | $6,534 | $5,421 | $3,238 | $933 | |||||||||||||||
EARNINGS_PER_COMMON_SHARE
EARNINGS PER COMMON SHARE | 3 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Earnings Per Share [Abstract] | ' | ||||||
EARNINGS PER COMMON SHARE | ' | ||||||
EARNINGS PER COMMON SHARE | |||||||
Basic earnings per common share (“EPS”) is computed by dividing earnings available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS assumes the issuance of common stock for all potentially dilutive equivalent shares outstanding using the treasury method. | |||||||
EPS data were computed as follows (in thousands, except for per share data): | |||||||
Three Months Ended June 30, | |||||||
2014 | 2013 | ||||||
Basic loss per share: | |||||||
Numerator: Net loss | ($12,116 | ) | ($4,670 | ) | |||
Denominator: | |||||||
Weighted-average common shares outstanding | 37,499 | 30,003 | |||||
Basic loss per share | ($0.32 | ) | ($0.16 | ) | |||
Diluted loss per share: | |||||||
Numerator: Net loss | ($12,116 | ) | ($4,670 | ) | |||
Denominator: | |||||||
Weighted-average common shares outstanding | 37,499 | 30,003 | |||||
Dilutive effect of stock awards | — | — | |||||
Total shares | 37,499 | 30,003 | |||||
Diluted loss per share | ($0.32 | ) | ($0.16 | ) | |||
Stock awards to purchase approximately 4,531,000 and 4,274,000 shares for the three months ended June 30, 2014 and 2013, respectively, were excluded from the diluted EPS calculation because they were anti-dilutive. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
COMMITMENTS AND CONTINGENCIES | |
Contractual Obligations | |
The Company entered into standalone operating lease agreements for its Shanghai, China and Detroit locations in the first quarter of our fiscal year 2015. The Shanghai lease expires on April 30, 2017 and does not contain any purchase obligations associated with the lease. The total future minimum lease obligation of the Shanghai lease is approximately $1.5 million as of June 30, 2014. The lease agreement for the Company's Detroit location expires March 31, 2015. | |
Legal Matters | |
The Company is subject to legal proceedings, claims, investigations and proceedings in the ordinary course of business. In accordance with U.S. GAAP, the Company makes a provision for a liability when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. | |
Beginning on May 30, 2014, two putative class actions were filed in the U.S. District Court for the Southern District of New York against the Company, directors and certain officers at the time of the Company's initial public offering ("IPO") alleging violation of securities laws in connection with the Company's IPO and seeking unspecified damages. We believe these lawsuits are without merit, and we intend to vigorously defend them. The Company currently has no other outstanding material litigation. |
BENEFIT_PLANS
BENEFIT PLANS | 3 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||
BENEFIT PLANS | ' | |||||||||||||||||||
BENEFIT PLANS | ||||||||||||||||||||
Compuware Stock-Based Compensation Plans | ||||||||||||||||||||
As the Company is a majority-owned subsidiary of Compuware, certain Covisint employees have been granted Compuware stock compensation awards. In accordance with the provisions of Staff Accounting Bulletin (“SAB”) 1.B.1, “Costs Reflected in Historical Financial Statements,” the expense for these awards is included within the condensed consolidated statements of comprehensive loss. | ||||||||||||||||||||
Compuware Stock Option Activity | ||||||||||||||||||||
A summary of option activity for Covisint employees under Compuware’s stock-based compensation plans as of June 30, 2014, and changes during the three months then ended is presented below. Shares and intrinsic value are presented in thousands. | ||||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||||||||
Options | Average | Average | Intrinsic | |||||||||||||||||
Exercise | Remaining | Value | ||||||||||||||||||
Price | Contractual | |||||||||||||||||||
Term in Years | ||||||||||||||||||||
Options outstanding as of April 1, 2014 | 472 | $9.23 | ||||||||||||||||||
Granted | — | |||||||||||||||||||
Exercised | (29 | ) | 8.12 | $59 | ||||||||||||||||
Forfeited | (26 | ) | 9.84 | |||||||||||||||||
Cancelled/expired | (12 | ) | 11.16 | |||||||||||||||||
Options outstanding as of June 30, 2014 | 405 | $9.21 | 1.77 | $366 | ||||||||||||||||
Options vested and expected to vest, net of estimated forfeitures, as of June 30, 2014 | 393 | $9.19 | 1.72 | $366 | ||||||||||||||||
Options exercisable as of June 30, 2014 | 279 | $8.90 | 1.23 | $357 | ||||||||||||||||
The vesting schedule of options has varied over the years with the following vesting terms being the most common: (1) 50 percent of shares vest on the third anniversary date and 25 percent on the fourth and fifth anniversary dates; (2) 25 percent of shares vest on each annual anniversary date over four years; or (3) 30 percent of shares vest on the first and second anniversary dates and 40 percent vest on the third anniversary date. | ||||||||||||||||||||
All options were granted with exercise prices at or above fair market value on the date of grant and expire ten years from the date of grant. Option expense is recognized on a straight-line basis over the vesting period unless the options vest more quickly than the expense would be recognized. In this case, additional expense is taken to ensure the expense is proportionate to the percent of options vested at any point in time. | ||||||||||||||||||||
During the three months ended June 30, 2014, 1,376 Compuware option shares granted to Covisint employees vested, with an average fair value of $8.63 per share. | ||||||||||||||||||||
Compuware Restricted Stock Units | ||||||||||||||||||||
A summary of non-vested restricted stock units (“RSUs”) activity for Covisint employees and directors under the Compuware LTIP as of June 30, 2014, and changes during the three months then ended is presented below. Shares and intrinsic value are presented in thousands. | ||||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Shares | Weighted | Aggregate | ||||||||||||||||||
Average | Intrinsic | |||||||||||||||||||
Grant-Date | Value | |||||||||||||||||||
Fair Value | ||||||||||||||||||||
Non-vested RSU outstanding at April 1, 2014 | 182 | |||||||||||||||||||
Granted | — | |||||||||||||||||||
Released | (32 | ) | $320 | |||||||||||||||||
Forfeited | (4 | ) | ||||||||||||||||||
Dividend equivalents, net | 1 | $9.74 | ||||||||||||||||||
Non-vested RSU outstanding at June 30, 2014 | 147 | |||||||||||||||||||
RSUs have various vesting terms related to the purpose of the award. The most common vesting term is 25 percent of shares vest on each annual anniversary date over four years. | ||||||||||||||||||||
The awards are settled by the issuance of one common share of Compuware stock for each unit upon vesting and vesting accelerates upon death, disability or a change in control of Compuware. | ||||||||||||||||||||
Compuware paid quarterly dividends of $0.125 per share. As a result of these dividend payments, approximately 967 dividend equivalent shares were issued to participants holding non-vested RSUs as of the dividend record date during the three months ended June 30, 2014, respectively. | ||||||||||||||||||||
Covisint 401(k) Plan | ||||||||||||||||||||
The Company matches 33 percent of employees’ 401(k) contributions up to 2 percent of eligible earnings. Matching contributions vest 100 percent when an employee attains one year of service. During the three months ended June 30, 2014 and 2013, the Company expensed $0.2 million and $0.2 million related to this program. | ||||||||||||||||||||
Covisint Stock-Based Compensation Plan | ||||||||||||||||||||
In August 2009, Covisint established a 2009 Long-Term Incentive Plan (“2009 Covisint LTIP”) allowing the Board of Directors of Covisint to grant stock options, stock appreciation rights, restricted stock, restricted stock units, performance-based cash or restricted stock unit awards and annual cash incentive awards to employees and directors of Covisint and its affiliates. The 2009 Covisint LTIP reserves 4.5 million common shares of Covisint for issuance under this plan. On December 30, 2013, the Board of Directors of Covisint Corporation adopted the First Amendment to the 2009 Covisint LTIP, subject to shareholder approval. The Amendment increased the number of shares of Covisint’s common stock available for issuance pursuant to stock-based awards granted under the LTIP by 3 million shares (increasing the number of shares available for issuance under the LTIP from 4.5 million to 7.5 million). On January 2, 2014, Compuware, as holder of the majority of the outstanding shares of the Company's common stock, approved the Amendment to increase the shares available. The increase in shares set forth in the Amendment became effective on February 13, 2014, twenty (20) days after the date of mailing of the Company’s Schedule 14C Information Statement to the Company's shareholders. | ||||||||||||||||||||
As of June 30, 2014, there were 4.4 million stock options outstanding from the 2009 Covisint LTIP. The Company recognized stock compensation expense of $2.6 million for the three months ended June 30, 2014. | ||||||||||||||||||||
Certain individuals, who received stock options from the 2009 Covisint LTIP, were also eligible to be awarded performance-based stock awards (“PSAs”) from the Compuware 2007 LTIP. As of June 30, 2013, there were 631,000 PSAs that were cancelled upon the closing of the Covisint IPO. PSA expense totaling $0.2 was recorded to “general and administrative” during the three months ended June 30, 2013. As the PSAs were cancelled upon IPO, no expense was recognized during the three months ended June 30, 2014. | ||||||||||||||||||||
Stock Option Activity | ||||||||||||||||||||
A summary of option activity under the Company’s stock-based compensation plans as of June 30, 2014, and changes during the three months then ended is presented below (shares and intrinsic value in thousands): | ||||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||||||||
Options | Average | Average | Intrinsic | |||||||||||||||||
Exercise | Remaining | Value | ||||||||||||||||||
Price | Contractual | |||||||||||||||||||
Term in Years | ||||||||||||||||||||
Options outstanding as of April 1, 2014 | 4,458 | $3.48 | ||||||||||||||||||
Granted | 140 | 7.2 | ||||||||||||||||||
Exercised | (111 | ) | 1.77 | |||||||||||||||||
Forfeited | (69 | ) | 9.39 | |||||||||||||||||
Options outstanding as of June 30, 2014 | 4,418 | $3.54 | 3.38 | $9,698 | ||||||||||||||||
Options vested and expected to vest, net of estimated forfeitures, as of June 30, 2014 | 4,346 | $3.42 | 3.28 | $9,698 | ||||||||||||||||
Options exercisable as of June 30, 2014 | 1,954 | $2.58 | 2.11 | $5,002 | ||||||||||||||||
All options were originally granted at estimated fair market value for those granted prior to IPO, and at fair market value for those granted post IPO. Options expire 10 years from the date of grant unless expiration has been otherwise accelerated in accordance with a termination and/or separation agreement. | ||||||||||||||||||||
For the quarter ended June 30, 2014, 110,519 options were exercised by participants of the 2009 Covisint LTIP. | ||||||||||||||||||||
Stock Awards Compensation | ||||||||||||||||||||
For the three months ended June 30, 2014 and 2013, respectively, stock awards compensation expense was recorded as follows in thousands: | ||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Stock awards compensation classified as: | ||||||||||||||||||||
Cost of revenue | $515 | $5 | ||||||||||||||||||
Research and development | 66 | 47 | ||||||||||||||||||
Sales and marketing | 605 | 47 | ||||||||||||||||||
General and administrative | 1,432 | 387 | ||||||||||||||||||
Total stock awards compensation expense before income taxes | $2,618 | $486 | ||||||||||||||||||
Total stock awards compensation expense before income taxes of $2.6 million for the three months ended June 30, 2014, is comprised of $1.5 million of stock compensation expense according to the normal expense recognition schedule of the grant and $1.1 million of expense recognized due to employee terminations, which, pursuant to the terms of these options, accelerated vesting. | ||||||||||||||||||||
As of June 30, 2014, total unrecognized compensation cost of $5.5 million, net of estimated forfeitures, related to nonvested equity awards granted is expected to be recognized over a weighted-average period of approximately 1.5 years. The following table summarizes the Company’s future recognition of its unrecognized compensation cost related to stock awards as of June 30, 2014 (in thousands). | ||||||||||||||||||||
Year Ending March 31, | ||||||||||||||||||||
Stock-Based Compensation Plan: | Total | 2015 | 2016 | 2017 | 2018 | |||||||||||||||
Covisint | $5,381 | $2,761 | $1,715 | $543 | $362 | |||||||||||||||
Compuware | 156 | 30 | 89 | 37 | — | |||||||||||||||
Total | $5,537 | $2,791 | $1,804 | $580 | $362 | |||||||||||||||
In order for Compuware to retain over eighty percent (80%) ownership of Covisint common stock to qualify under the United States Internal Revenue Code Section 355 for a subsequent tax-free distribution of its shares in Covisint to Compuware shareholders, in early June 2014, (a) Covisint issued tandem stock appreciation rights (“SARs”) to its option holders who had options exercisable in 2014; and (b) Covisint and Compuware entered into a Purchase Agreement for Compuware to purchase from Covisint shares of Covisint common stock to fund Covisint’s cash outlay resulting from the exercise of the SARs. Due to Compuware's purchase of 1,381,920 shares of Covisint common stock in the open market during June 2014, Compuware owns sufficient shares of Covisint to maintain its ownership percentage despite the exercise of outstanding vested Covisint options. Accordingly, the tandem SARs were no longer necessary, and, on June 17, 2014, Covisint rescinded the tandem SARs granted to its option holders. On June 20, 2014, Compuware and Covisint agreed to terminate the Purchase Agreement, with a termination date of June 20, 2014. |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Jun. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
RELATED PARTY TRANSACTIONS | ' |
RELATED PARTY TRANSACTIONS | |
The Company previously utilized professional services staff of Compuware to provide certain services to customers and to provide additional resources for research and development activities. These costs were included in “cost of revenue” and “research and development” as applicable. Effective January 31, 2014, Compuware sold substantially all of the assets related to Compuware's Professional Services business unit to Marlin Equity Partners. As such, related party charges for professional services totaled $0.0 million and $0.7 million for the three months ended June 30, 2014 and 2013, respectively. | |
Certain related party transactions are settled in cash and are reflected as due to or due from parent and affiliates within the condensed consolidated balance sheet. At June 30, 2014, the Company had a net receivable due from parent of $4.1 million as compared to a net receivable of $2.8 million at March 31, 2014. The activity in the three months ended June 30, 2014 was primarily comprised of Compuware's repayment of the ($2.8) million receivable as of March 31, 2014, and $4.2 million related to the required payment from Compuware for its use of the Company’s tax loss and other tax related attributes. This activity was partially offset by ($0.1) million due to miscellaneous intercompany activity, primarily working capital movements such as customer collections and vendor payments. Compuware is the lessor of the Company's Detroit real estate lease. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
SUBSEQUENT EVENTS | |
On July 1, 2014, the Company granted Mr. Inman an option to purchase 750,000 shares of the Company’s common stock with an exercise price of $4.86 per share. The option vests in three equal parts on the first three anniversaries of the grant date. All of the unvested option shares will immediately vest and be exercisable on the date of the termination of Mr. Inman’s employment through the option expiration date: (1) in the event that the Mr. Inman ceases to be employed due to his death or disability; (2) under the circumstances set forth in Mr. Inman’s Severance Agreement; (3) in the event Mr. Inman is terminated by the Company without Cause as defined in the Severance Agreement; or (4) if he is constructively terminated following the effective date of a change in control of the Company. | |
On July 1, 2014, the Company granted Mr. Inman 182,193 restricted stock units, which vest in equal parts on the first three anniversaries of the grant date. All of the unvested restricted stock units will immediately vest and become non-forfeitable on the date of the termination of Mr. Inman’s employment: (1) in the event that Mr. Inman ceases to be employed due to his death or disability; (2) under the circumstances set forth in Mr. Inman’s Severance Agreement; (3) in the event Mr. Inman is terminated by the Company without Cause as defined in the Severance Agreement; or (4) if he is constructively terminated following the effective date of a change in control of the Company. | |
On August 4, 2014, the Company received from Compuware $4.1 million, the balance due from parent and affiliates as of June 30, 2014. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation - The accompanying unaudited condensed consolidated financial statements (“Financial Statements”) include the accounts of Covisint Corporation and subsidiaries, a Michigan corporation majority-owned by Compuware Corporation (“Compuware” or the “Parent”). | |
The Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), for interim financial information and with the instructions of Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, contingencies and results of operations. While management has based its assumptions and estimates on the facts and circumstances existing at June 30, 2014, final amounts may differ from these estimates. In the opinion of the Company’s management, the accompanying Financial Statements reflect all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. | |
The Company evaluated subsequent events through the date its financial statements were issued. | |
These financial statements should be read in conjunction with the Company's 2014 Annual Report on Form 10-K. Prior to April 1, 2014, the Compuware allocation was recorded within general and administrative expense. Effective April 1, 2014, the allocation was replaced with actual expenses and these have been recorded in each respective line item. Other than this allocation, there have been no significant changes to the Company’s accounting policies as disclosed in the Company’s 2014 Annual Report on Form 10-K. | |
Revenue Recognition | ' |
In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)," a new comprehensive revenue recognition standard that will supersede all existing revenue recognition guidance under U.S. GAAP. The standard's core principle is that revenue should be recognized as goods or services are transferred to a customer in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective for annual and interim periods beginning on or after December 15, 2016, and early adoption is not permitted. Entities will have the option of using either a full retrospective approach or a modified approach to adopt the guidance in the ASU. The Company is currently evaluating the impact of adopting this guidance. | |
Income Taxes | ' |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” The amendments in this ASU provide guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date and are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Company adopted this ASU effective April 1, 2014, and the adoption did not have a significant impact on the Company's financial statements. | |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” The amendments in this ASU provide guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date and are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Company adopted this ASU effective April 1, 2014, and the adoption did not have a significant impact on the Company's financial statements. | |
In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)," a new comprehensive revenue recognition standard that will supersede all existing revenue recognition guidance under U.S. GAAP. The standard's core principle is that revenue should be recognized as goods or services are transferred to a customer in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective for annual and interim periods beginning on or after December 15, 2016, and early adoption is not permitted. Entities will have the option of using either a full retrospective approach or a modified approach to adopt the guidance in the ASU. The Company is currently evaluating the impact of adopting this guidance. |
CAPITALIZED_SOFTWARE_AND_OTHER1
CAPITALIZED SOFTWARE AND OTHER INTANGIBLE ASSETS (Tables) | 3 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||
Schedule of intangible assets | ' | |||||||||||||||||||
The components of the Company’s intangible assets are as follows (in thousands): | ||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||
Amount | Amortization | Amount | ||||||||||||||||||
Indefinite-lived intangible assets: | ||||||||||||||||||||
Trademarks(1) | $358 | $358 | ||||||||||||||||||
Amortizing intangible assets: | ||||||||||||||||||||
Capitalized software(2) | $49,778 | ($28,772 | ) | $21,006 | ||||||||||||||||
Customer relationship agreements(3) | 4,715 | (4,032 | ) | 683 | ||||||||||||||||
Trademarks(4) | 340 | (340 | ) | — | ||||||||||||||||
Total amortizing intangible assets | $54,833 | ($33,144 | ) | $21,689 | ||||||||||||||||
March 31, 2014 | ||||||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||
Amount | Amortization | Amount | ||||||||||||||||||
Indefinite-lived intangible assets: | ||||||||||||||||||||
Trademarks(1) | $358 | $358 | ||||||||||||||||||
Amortizing intangible assets: | ||||||||||||||||||||
Capitalized software(2) | $48,989 | ($27,067 | ) | $21,922 | ||||||||||||||||
Customer relationship agreements(3) | 4,715 | (3,955 | ) | 760 | ||||||||||||||||
Trademarks(4) | 340 | (340 | ) | — | ||||||||||||||||
Total amortizing intangible assets | $54,044 | ($31,362 | ) | $22,682 | ||||||||||||||||
_____________________________________________________ | ||||||||||||||||||||
-1 | The Covisint trademarks were acquired by Compuware in an acquisition in March 2004. These trademarks are deemed to have an indefinite life and therefore are not being amortized. | |||||||||||||||||||
-2 | Amortization of capitalized software is included in “cost of revenue” in the condensed consolidated statements of comprehensive loss. Capitalized software is generally amortized over five years. | |||||||||||||||||||
-3 | Amortization of customer relationship agreements is included in “sales and marketing” in the condensed consolidated statements of comprehensive loss. Customer relationship agreements were acquired as part of acquisitions and are being amortized over periods up to six years. | |||||||||||||||||||
-4 | Amortization of trademarks is included in “general and administrative” in the condensed consolidated statements of comprehensive loss. Trademarks were acquired as part of acquisitions and are being amortized over three years. | |||||||||||||||||||
Schedule of intangible assets, future amortization expense | ' | |||||||||||||||||||
Estimated future amortization expense, based on identified intangible assets at June 30, 2014, is expected to be as follows (in thousands): | ||||||||||||||||||||
At June 30, 2014 for the Year Ending March 31, | ||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||
Capitalized software | $5,170 | $6,226 | $5,277 | $3,238 | $933 | |||||||||||||||
Customer relationships | 231 | 308 | 144 | — | — | |||||||||||||||
Total | $5,401 | $6,534 | $5,421 | $3,238 | $933 | |||||||||||||||
EARNINGS_PER_COMMON_SHARE_Tabl
EARNINGS PER COMMON SHARE (Tables) | 3 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Earnings Per Share [Abstract] | ' | ||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | ||||||
EPS data were computed as follows (in thousands, except for per share data): | |||||||
Three Months Ended June 30, | |||||||
2014 | 2013 | ||||||
Basic loss per share: | |||||||
Numerator: Net loss | ($12,116 | ) | ($4,670 | ) | |||
Denominator: | |||||||
Weighted-average common shares outstanding | 37,499 | 30,003 | |||||
Basic loss per share | ($0.32 | ) | ($0.16 | ) | |||
Diluted loss per share: | |||||||
Numerator: Net loss | ($12,116 | ) | ($4,670 | ) | |||
Denominator: | |||||||
Weighted-average common shares outstanding | 37,499 | 30,003 | |||||
Dilutive effect of stock awards | — | — | |||||
Total shares | 37,499 | 30,003 | |||||
Diluted loss per share | ($0.32 | ) | ($0.16 | ) | |||
BENEFIT_PLANS_Tables
BENEFIT PLANS (Tables) | 3 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||||||
Schedule of stock option activity | ' | |||||||||||||||||||
A summary of option activity under the Company’s stock-based compensation plans as of June 30, 2014, and changes during the three months then ended is presented below (shares and intrinsic value in thousands): | ||||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||||||||
Options | Average | Average | Intrinsic | |||||||||||||||||
Exercise | Remaining | Value | ||||||||||||||||||
Price | Contractual | |||||||||||||||||||
Term in Years | ||||||||||||||||||||
Options outstanding as of April 1, 2014 | 4,458 | $3.48 | ||||||||||||||||||
Granted | 140 | 7.2 | ||||||||||||||||||
Exercised | (111 | ) | 1.77 | |||||||||||||||||
Forfeited | (69 | ) | 9.39 | |||||||||||||||||
Options outstanding as of June 30, 2014 | 4,418 | $3.54 | 3.38 | $9,698 | ||||||||||||||||
Options vested and expected to vest, net of estimated forfeitures, as of June 30, 2014 | 4,346 | $3.42 | 3.28 | $9,698 | ||||||||||||||||
Options exercisable as of June 30, 2014 | 1,954 | $2.58 | 2.11 | $5,002 | ||||||||||||||||
Schedule of allocation of award costs | ' | |||||||||||||||||||
For the three months ended June 30, 2014 and 2013, respectively, stock awards compensation expense was recorded as follows in thousands: | ||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Stock awards compensation classified as: | ||||||||||||||||||||
Cost of revenue | $515 | $5 | ||||||||||||||||||
Research and development | 66 | 47 | ||||||||||||||||||
Sales and marketing | 605 | 47 | ||||||||||||||||||
General and administrative | 1,432 | 387 | ||||||||||||||||||
Total stock awards compensation expense before income taxes | $2,618 | $486 | ||||||||||||||||||
Schedule of unrecognized compensation | ' | |||||||||||||||||||
The following table summarizes the Company’s future recognition of its unrecognized compensation cost related to stock awards as of June 30, 2014 (in thousands). | ||||||||||||||||||||
Year Ending March 31, | ||||||||||||||||||||
Stock-Based Compensation Plan: | Total | 2015 | 2016 | 2017 | 2018 | |||||||||||||||
Covisint | $5,381 | $2,761 | $1,715 | $543 | $362 | |||||||||||||||
Compuware | 156 | 30 | 89 | 37 | — | |||||||||||||||
Total | $5,537 | $2,791 | $1,804 | $580 | $362 | |||||||||||||||
Compuware | ' | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||||||||||
Schedule of stock option activity | ' | |||||||||||||||||||
A summary of option activity for Covisint employees under Compuware’s stock-based compensation plans as of June 30, 2014, and changes during the three months then ended is presented below. Shares and intrinsic value are presented in thousands. | ||||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||||||||
Options | Average | Average | Intrinsic | |||||||||||||||||
Exercise | Remaining | Value | ||||||||||||||||||
Price | Contractual | |||||||||||||||||||
Term in Years | ||||||||||||||||||||
Options outstanding as of April 1, 2014 | 472 | $9.23 | ||||||||||||||||||
Granted | — | |||||||||||||||||||
Exercised | (29 | ) | 8.12 | $59 | ||||||||||||||||
Forfeited | (26 | ) | 9.84 | |||||||||||||||||
Cancelled/expired | (12 | ) | 11.16 | |||||||||||||||||
Options outstanding as of June 30, 2014 | 405 | $9.21 | 1.77 | $366 | ||||||||||||||||
Options vested and expected to vest, net of estimated forfeitures, as of June 30, 2014 | 393 | $9.19 | 1.72 | $366 | ||||||||||||||||
Options exercisable as of June 30, 2014 | 279 | $8.90 | 1.23 | $357 | ||||||||||||||||
Schedule of RSU activity | ' | |||||||||||||||||||
A summary of non-vested restricted stock units (“RSUs”) activity for Covisint employees and directors under the Compuware LTIP as of June 30, 2014, and changes during the three months then ended is presented below. Shares and intrinsic value are presented in thousands. | ||||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Shares | Weighted | Aggregate | ||||||||||||||||||
Average | Intrinsic | |||||||||||||||||||
Grant-Date | Value | |||||||||||||||||||
Fair Value | ||||||||||||||||||||
Non-vested RSU outstanding at April 1, 2014 | 182 | |||||||||||||||||||
Granted | — | |||||||||||||||||||
Released | (32 | ) | $320 | |||||||||||||||||
Forfeited | (4 | ) | ||||||||||||||||||
Dividend equivalents, net | 1 | $9.74 | ||||||||||||||||||
Non-vested RSU outstanding at June 30, 2014 | 147 | |||||||||||||||||||
CAPITALIZED_SOFTWARE_AND_OTHER2
CAPITALIZED SOFTWARE AND OTHER INTANGIBLE ASSETS (Details) (USD $) | 3 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | |||
Schedule of Intangible Assets [Line Items] | ' | ' | ' | ||
Amortized intangible assets, Gross Carrying Amount | $54,833,000 | ' | $54,044,000 | ||
Accumulated Amortization | -33,144,000 | ' | -31,362,000 | ||
Amortized intangible assets, Net Carrying Amount | 21,689,000 | ' | 22,682,000 | ||
Amortization expense of intangible assets | 1,800,000 | 1,700,000 | ' | ||
Estimated future amortization expense | ' | ' | ' | ||
2015 | 5,401,000 | ' | ' | ||
2016 | 6,534,000 | ' | ' | ||
2017 | 5,421,000 | ' | ' | ||
2018 | 3,238,000 | ' | ' | ||
2019 | 933,000 | ' | ' | ||
Trademarks | ' | ' | ' | ||
Schedule of Intangible Assets [Line Items] | ' | ' | ' | ||
Unamortized intangible assets | 358,000 | [1] | ' | 358,000 | [1] |
Capitalized software | ' | ' | ' | ||
Schedule of Intangible Assets [Line Items] | ' | ' | ' | ||
Amortized intangible assets, Gross Carrying Amount | 49,778,000 | [2] | ' | 48,989,000 | [2] |
Accumulated Amortization | -28,772,000 | [2] | ' | -27,067,000 | [2] |
Amortized intangible assets, Net Carrying Amount | 21,006,000 | [2] | ' | 21,922,000 | [2] |
Finite-lived intangible asset, useful life | '5 years | ' | ' | ||
Estimated future amortization expense | ' | ' | ' | ||
2015 | 5,170,000 | ' | ' | ||
2016 | 6,226,000 | ' | ' | ||
2017 | 5,277,000 | ' | ' | ||
2018 | 3,238,000 | ' | ' | ||
2019 | 933,000 | ' | ' | ||
Customer relationship agreements | ' | ' | ' | ||
Schedule of Intangible Assets [Line Items] | ' | ' | ' | ||
Amortized intangible assets, Gross Carrying Amount | 4,715,000 | [3] | ' | 4,715,000 | [3] |
Accumulated Amortization | -4,032,000 | [3] | ' | -3,955,000 | [3] |
Amortized intangible assets, Net Carrying Amount | 683,000 | [3] | ' | 760,000 | [3] |
Estimated future amortization expense | ' | ' | ' | ||
2015 | 231,000 | ' | ' | ||
2016 | 308,000 | ' | ' | ||
2017 | 144,000 | ' | ' | ||
2018 | 0 | ' | ' | ||
2019 | 0 | ' | ' | ||
Customer relationship agreements | Maximum | ' | ' | ' | ||
Schedule of Intangible Assets [Line Items] | ' | ' | ' | ||
Finite-lived intangible asset, useful life | '6 years | ' | ' | ||
Trademarks | ' | ' | ' | ||
Schedule of Intangible Assets [Line Items] | ' | ' | ' | ||
Amortized intangible assets, Gross Carrying Amount | 340,000 | [4] | ' | 340,000 | [4] |
Accumulated Amortization | -340,000 | [4] | ' | -340,000 | [4] |
Amortized intangible assets, Net Carrying Amount | $0 | [4] | ' | $0 | [4] |
Finite-lived intangible asset, useful life | '3 years | ' | ' | ||
[1] | The Covisint trademarks were acquired by Compuware in an acquisition in March 2004. These trademarks are deemed to have an indefinite life and therefore are not being amortized. | ||||
[2] | Amortization of capitalized software is included in bcost of revenueb in the condensed consolidated statements of comprehensive loss. Capitalized software is generally amortized over five years. | ||||
[3] | Amortization of customer relationship agreements is included in bsales and marketingb in the condensed consolidated statements of comprehensive loss. Customer relationship agreements were acquired as part of acquisitions and are being amortized over periods up to six years. | ||||
[4] | Amortization of trademarks is included in bgeneral and administrativeb in the condensed consolidated statements of comprehensive loss. Trademarks were acquired as part of acquisitions and are being amortized over three years. |
EARNINGS_PER_COMMON_SHARE_Deta
EARNINGS PER COMMON SHARE (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Basic loss per share: | ' | ' |
Numerator: Net income (loss) (in dollars) | ($12,116) | ($4,670) |
Weighted-average common shares outstanding | 37,499,000 | 30,003,000 |
Basic income (loss) per share (in dollars per share) | ($0.32) | ($0.16) |
Diluted loss per share: | ' | ' |
Numerator: Net income (loss) (in dollars) | ($12,116) | ($4,670) |
Denominator: | ' | ' |
Weighted-average common shares outstanding | 37,499,000 | 30,003,000 |
Dilutive effect of stock awards | 0 | 0 |
Total shares | 37,499,000 | 30,003,000 |
Diluted income (loss) per share (in dollars per share) | ($0.32) | ($0.16) |
Antidilutive shares | 4,531,000 | 4,274,000 |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES Operating Leases (Details) (USD $) | Jun. 30, 2014 |
In Millions, unless otherwise specified | |
Other Commitments [Line Items] | ' |
Operating Leases, Future Minimum Payments Due | $1.50 |
BENEFIT_PLANS_Details
BENEFIT PLANS (Details) (USD $) | 0 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||||
Jul. 01, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Aug. 31, 2009 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
2009 Covisint LTIP | Cost of revenue | Cost of revenue | Research and development | Research and development | Selling and marketing | Selling and marketing | Administrative and general | Administrative and general | Normal Expense Recognition | One-time Termination Benefits | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Performance-based Stock Awards | Performance-based Stock Awards | Performance-based Stock Awards | Compuware | Compuware | Compuware | Compuware | Compuware | Compuware | Compuware | Compuware | Compuware | Compuware | ||||||
Vesting schedule one, fifth anniversary | Vesting schedule three, second anniversary | IPO | First anniversary | Second anniversary | Third anniversary | Upon change of control or termination within 12 months of IPO | Upon change of control or termination after 12 months of IPO | Administrative and general | Minimum | Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Restricted Stock Units (RSUs) | ||||||||||||||||||||||
Vesting schedule one, third anniversary | Vesting schedule one, fourth anniversary | Vesting schedule two | Vesting schedule three, first anniversary | Vesting schedule three, third anniversary | ||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer matching contribution, percent of match | ' | ' | 33.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer matching contribution, percent of employees' gross pay | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution vesting rights, percentage | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution vesting period | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
401(k) cost recognized | ' | ' | $200,000 | $200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding, beginning balance (in shares) | 4,418,000 | ' | 4,458,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 472,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in shares) | 750,000 | ' | 140,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in shares) | ' | ' | -111,000 | ' | ' | -110,519 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -29,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in shares) | ' | ' | -69,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -26,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled/expired (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -12,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding, ending balance (in shares) | ' | ' | 4,418,000 | ' | ' | 4,413,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 405,000 | 405,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Options vested and expected to vest, net of estimated forfeitures (in shares) | ' | ' | 4,346,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 393,000 | 393,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Options exercisable (in shares) | ' | ' | 1,954,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 279,000 | 279,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding, beginning balance (in dollars per share) | $3.54 | ' | $3.48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9.23 | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in dollars per share) | ' | ' | $7.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8.12 | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in dollars per share) | ' | ' | $9.39 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9.84 | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled/expired (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11.16 | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding, ending balance (in dollars per share) | ' | ' | $3.54 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9.21 | $9.21 | ' | ' | ' | ' | ' | ' | ' | ' |
Options vested and expected to vest, net of estimated forfeitures, Weighted Average Exercise Price (in dollars per share) | ' | ' | $3.42 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9.19 | $9.19 | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercisable, Weighted Average Exercise Price (in dollars per share) | ' | ' | $2.58 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8.90 | $8.90 | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding options, Weighted Average Remaining Contractual Term in Years | ' | ' | '3 years 4 months 17 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 9 months 7 days | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding vested and expected to vest, net of estimated forfeitures, Weighted Average Remaining Contractual Term in Years | ' | ' | '3 years 3 months 11 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 8 months 19 days | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercisable, Weighted Average Remaining Contractual Term in Years | ' | ' | '2 years 1 month 10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 2 months 23 days | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised, Aggregate Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Options outstanding, Aggregate Intrinsic Value | ' | ' | 9,698,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 366,000 | 366,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Options vested and expected to vest, net of estimated forfeitures, Aggregate Intrinsic Value | ' | ' | 9,698,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 366,000 | 366,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercisable, Aggregate Intrinsic Value | ' | ' | 5,002,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 357,000 | 357,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Award vesting rights, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 30.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | 50.00% | 25.00% | 25.00% | 30.00% | 40.00% | 25.00% |
Award vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | '4 years |
Expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' |
Options vested (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,376 | ' | ' | ' | ' | ' | ' | ' | ' |
Options vested, weighted average fair value (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8.63 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested RSU outstanding, beginning balance (in shares) | 182,193 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 631,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 182,000 |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Released (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -32,000 |
Forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,000 |
Dividend equivalents, net (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 |
Non-vested RSU outstanding, ending balance (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 631,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 147,000 |
Dividend equivalents, net, Weighted Average Grant-Date Fair Value (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9.74 |
Released, Aggregate Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $320,000 |
Dividends paid (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.13 | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend equivalents (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 967 |
Common shares reserved for issuance (in shares) | ' | ' | 7,500,000 | ' | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in common shares reserved for issuance (in shares) | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation expense | ' | ' | 2,618,000 | 486,000 | ' | ' | 515,000 | 5,000 | 66,000 | 47,000 | 605,000 | 47,000 | 1,432,000 | 387,000 | 1,500,000 | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost, weighted-average period | ' | ' | '1 year 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total | ' | ' | 5,537,000 | ' | ' | 5,381,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 156,000 | 156,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | ' | ' | 2,791,000 | ' | ' | 2,761,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | ' | ' | 1,804,000 | ' | ' | 1,715,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89,000 | 89,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | ' | ' | 580,000 | ' | ' | 543,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,000 | 37,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | ' | ' | $362,000 | ' | ' | $362,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' |
Shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,381,920 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 |
Net Change in Working Capital | Compuware | Compuware | Compuware | |||
Parent's Utilization of Tax Loss and Other Tax Related Attributes | ||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' |
Expenses from transactions with Parent | ' | ' | ' | $0 | $700,000 | ' |
Due from parent and affiliates | 4,136,000 | 2,813,000 | -100,000 | ' | ' | -4,200,000 |
Related Party Transactions, Payments by the Parent | ' | ($2,800,000) | ' | ' | ' | ' |
SUBSEQUENT_EVENTS_Details
SUBSEQUENT EVENTS (Details) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | |
In Millions, except Share data, unless otherwise specified | Jul. 01, 2014 | Jun. 30, 2014 | Jul. 01, 2014 | Aug. 04, 2014 |
Majority Shareholder | ||||
Subsequent Event | ||||
Subsequent Event [Line Items] | ' | ' | ' | ' |
Proceeds from parent and affiliates | ' | ' | ' | $4.10 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 750,000 | 140,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | 182,193 | ' |