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How much Cash/Cash Equivalents does the company have at the end of the most recent year?
- For Use Total Operating Expense from Income Statement (assume all were cash) to Compute the Days Cash on Hand (foRMULA: DAYS CASH ON HAND = CASH AND SHOR THEM INVESTMENTS/ DAILY CASH OPERATING EXPENSES ) for the previous 2 years ... How many days cash do they have has it increased or decreased and does it seem adequate?
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In the Annual report look for ITEM 9A in Table of Contents then under Item THEN scroll down to MANAGEMENT'S ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
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Were there any weaknesses identified???
Table of Contents JDA SOFTWARE GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2011 December 31, 2010 A: Restated (1) ) (In thousands, except share amount:) S 285,512 $ 8.733 114,778 32,063 24,584 465,670 171,618 34,126 111,042 50,816 25,615 393,217 652 52,541 231,377 141 882 258,271 20.565 705,288 1,170,958 728 47,447 231,377 187,398 255.063 16,712 738,725 1.131.942 $ $ $ $ ASSETS Current Assets: Cash and cash equivalents Restricted cash-current portion Accounts receivable, net Deferred tax assets - current portion Prepaid expenses and other current assets Total current assets Non-Current Assets: Restricted cash long-term portion Property and equipment, net Goodwill Other intangibles, net Deferred tax assets - long-term portion Other non-current assets Total non-current assets Total Assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses and other liabilities Deferred revenue - current portion Total current liabilities Non-Current Liabilities: Long-term debt Accrued exit and disposal obligations Liability for uncertain tax positions Deferred revenue - long-term portion Other non-current liabilities Total non-current liabilities Total Liabilities Commitments and Contingencies (Notes 12 and 13) Stockholders' Equity: ' Preferred stock, 5.01 par value: 2,000 shares authorized: none issued and outstanding Common stock, 5.01 par value: 100.000 shares authorized: 44,870 and 43,896 shares issued, respectively Additional paid-in capital Retained earnings Accumulated other comprehensive (loss) income Less treasury stock, at cost, 2,168 and 1,970 shares, respectively Total stockholders' equity Total liabilities and stockholders' equity (1) As restated - See Note 23 "Restatement of Previously Issued Financial Statements of Notes to Consolidated Financial Statements. () . See notes to Consolidated Financial Statements 7,740 73,111 108,217 189,068 21,092 88.028 115.904 225,024 273,210 272.695 3.926 7,360 4,098 8,115 1,368 290,717 479,785 6,873 15,475 284 302,687 527,711 449 571,593 154.551 (2,454) (32.966) 691,173 1,170.958 439 551.174 71,863 7.976 (27.221) 604,231 1,131,942 $ $ Management's Report on Internal Control Over Financial Reporting. Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a-15(1) under the Exchange Act. Management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on its evaluation under the Internal Control - Integrated Framework, management identified control deficiencies that constitute a material weakness in our internal control over financial reporting. Specifically, the material weakness exists in our internal controls over the application of revenue recognition criteria required by the Accounting Standards Codification section 985-605 "Software Revenue Recognition" in the context of multiple-element software arrangements. The material weakness relates to both the insufficient design and ineffective operation of certain internal controls over the identification of license agreements linked to consulting agreements and Cloud Services, as well as testing and documentation of VSOE for Cloud Services and consulting services products and is comprised of the following components: Controls were not adequately designed to facilitate a review of whether or not software license contracts were linked to in-process or subsequent consulting or Cloud Services statements of work. To the extent this review was performed, sufficient documentation was not retained as evidence of review. Controls were not adequately designed to perform VSOE testing to determine the fair value of certain services included in multiple element arrangements as follows: In the instance of Cloud Services, the objective testing populations of stand-alone transactions were not substantial enough to establish VSOE. In the instance of consulting services, certain geographies in EMEA and ASPAC did not have a sufficient volume of transactions to establish VSOE in some foreign 42 Table of Contents currencies in which those transactions were sold. As a result, our management did not identify that revenue from several license agreements was recognized in the incorrect period. The correction of the revenue associated with these license agreements resulted in the restatement of fiscal years 2007 through 2010 and the first three quarterly periods of fiscal 2011. Due to the material weakness in internal control over financial reporting identified above, management's evaluation concluded that we have not maintained effective internal control over financial reporting as of December 31, 2011. Our independent registered public accounting firm, Deloitte & Touche LLP, audited the effectiveness of the Company's internal control over financial reporting and issued an attestation report thereon which is included below under the heading "Report of Independent Registered Public Accounting Firm. JDA SOFTWARE GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME 2011 Year Ended December 31, 2010 As Restated (1) (In thousands, except per share data) , 2009 A: Rastated (1) $ $ $ Revenues: Software licenses Subscriptions and other recurring revenues Maintenance services Product revenues 140,217 16,763 265,783 422.763 *4:10 245,046 23,432 268,478 691.243 91,490 21.143 245,777 **3. 355.10 215,470 19.862 235,332 593,742 91,789 3,873 179.256 274,918 105,990 10.060 116.050 390.968 4,158 7,095 55,891 67,144 180 077 23,432 204,409 271,553 419,690 4,256 7,047 52,538 63,841 12:04 171,043 19,862 190.005 254.746 338.996 3,241 3,920 43,106 -0.00 50.267 85,098 10,060 95,158 145,425 245,543 Consulting services Reimbursed expenses Service revenues Total revenues Cost of Revenues: Cost of software licenses Amortization of acquired software technology Cost of maintenance services Cost of product revenues Cost of consulting services Reimbursed expenses Cost of service revenues Total cost of revenue Gross Profit Operating Expenses: Product development Sales and marketing General and administrative Amortization of intangibles Restructuring charges Acquisition-related costs Litigation provision and settlements, net Total operating expenses Operating Income Interest expense and amortization of loan fees Finance costs on abandoned acquisition Interest income and other, net Income (Loss) Before Income Taxes Income tax provision (benefit) Net Income Consideration paid in excess of carrying value on the repurchase of redeemable preferred stock Income Applicable to Common Shareholders Earnings Per Share Applicable to Common Shareholders Basic net income per common share Diluted net income per common share Shares used in computing basic net income per common share Shares used in computing diluted net income per common share (1) As restated - See Note 23 Restatement of Previously Issued Financial Statements of Notes to Consolidated Financial Statements See notes to Consolidated Financial Statements 76,898 104,128 72,493 38,421 1,922 72,723 91.341 72,112 38,415 20,931 8,115 14,000 4470 317,637 21,359 24,758 51.215 65.989 47,580 23,633 6,865 4,768 1,500 295,362 124 325 25,500 (3.791) 102,619 19,931 82,688 (1,478) (1,921) (4.062) w 200,050 45,493 2,712 (767) (1,213) we 44,761 17,186 27,575 (8,593) 18,982 2.141 $ 82.688 $ 2.141 1.95 $ S 0.54 $ $ 1.93 $ 0.05 0.05 41.173 41,710 42,412 42,761 0.54 34.936 35,258 Table of Contents JDA SOFTWARE GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2011 December 31, 2010 A: Restated (1) ) (In thousands, except share amount:) S 285,512 $ 8.733 114,778 32,063 24,584 465,670 171,618 34,126 111,042 50,816 25,615 393,217 652 52,541 231,377 141 882 258,271 20.565 705,288 1,170,958 728 47,447 231,377 187,398 255.063 16,712 738,725 1.131.942 $ $ $ $ ASSETS Current Assets: Cash and cash equivalents Restricted cash-current portion Accounts receivable, net Deferred tax assets - current portion Prepaid expenses and other current assets Total current assets Non-Current Assets: Restricted cash long-term portion Property and equipment, net Goodwill Other intangibles, net Deferred tax assets - long-term portion Other non-current assets Total non-current assets Total Assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses and other liabilities Deferred revenue - current portion Total current liabilities Non-Current Liabilities: Long-term debt Accrued exit and disposal obligations Liability for uncertain tax positions Deferred revenue - long-term portion Other non-current liabilities Total non-current liabilities Total Liabilities Commitments and Contingencies (Notes 12 and 13) Stockholders' Equity: ' Preferred stock, 5.01 par value: 2,000 shares authorized: none issued and outstanding Common stock, 5.01 par value: 100.000 shares authorized: 44,870 and 43,896 shares issued, respectively Additional paid-in capital Retained earnings Accumulated other comprehensive (loss) income Less treasury stock, at cost, 2,168 and 1,970 shares, respectively Total stockholders' equity Total liabilities and stockholders' equity (1) As restated - See Note 23 "Restatement of Previously Issued Financial Statements of Notes to Consolidated Financial Statements. () . See notes to Consolidated Financial Statements 7,740 73,111 108,217 189,068 21,092 88.028 115.904 225,024 273,210 272.695 3.926 7,360 4,098 8,115 1,368 290,717 479,785 6,873 15,475 284 302,687 527,711 449 571,593 154.551 (2,454) (32.966) 691,173 1,170.958 439 551.174 71,863 7.976 (27.221) 604,231 1,131,942 $ $ Management's Report on Internal Control Over Financial Reporting. Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a-15(1) under the Exchange Act. Management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on its evaluation under the Internal Control - Integrated Framework, management identified control deficiencies that constitute a material weakness in our internal control over financial reporting. Specifically, the material weakness exists in our internal controls over the application of revenue recognition criteria required by the Accounting Standards Codification section 985-605 "Software Revenue Recognition" in the context of multiple-element software arrangements. The material weakness relates to both the insufficient design and ineffective operation of certain internal controls over the identification of license agreements linked to consulting agreements and Cloud Services, as well as testing and documentation of VSOE for Cloud Services and consulting services products and is comprised of the following components: Controls were not adequately designed to facilitate a review of whether or not software license contracts were linked to in-process or subsequent consulting or Cloud Services statements of work. To the extent this review was performed, sufficient documentation was not retained as evidence of review. Controls were not adequately designed to perform VSOE testing to determine the fair value of certain services included in multiple element arrangements as follows: In the instance of Cloud Services, the objective testing populations of stand-alone transactions were not substantial enough to establish VSOE. In the instance of consulting services, certain geographies in EMEA and ASPAC did not have a sufficient volume of transactions to establish VSOE in some foreign 42 Table of Contents currencies in which those transactions were sold. As a result, our management did not identify that revenue from several license agreements was recognized in the incorrect period. The correction of the revenue associated with these license agreements resulted in the restatement of fiscal years 2007 through 2010 and the first three quarterly periods of fiscal 2011. Due to the material weakness in internal control over financial reporting identified above, management's evaluation concluded that we have not maintained effective internal control over financial reporting as of December 31, 2011. Our independent registered public accounting firm, Deloitte & Touche LLP, audited the effectiveness of the Company's internal control over financial reporting and issued an attestation report thereon which is included below under the heading "Report of Independent Registered Public Accounting Firm. JDA SOFTWARE GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME 2011 Year Ended December 31, 2010 As Restated (1) (In thousands, except per share data) , 2009 A: Rastated (1) $ $ $ Revenues: Software licenses Subscriptions and other recurring revenues Maintenance services Product revenues 140,217 16,763 265,783 422.763 *4:10 245,046 23,432 268,478 691.243 91,490 21.143 245,777 **3. 355.10 215,470 19.862 235,332 593,742 91,789 3,873 179.256 274,918 105,990 10.060 116.050 390.968 4,158 7,095 55,891 67,144 180 077 23,432 204,409 271,553 419,690 4,256 7,047 52,538 63,841 12:04 171,043 19,862 190.005 254.746 338.996 3,241 3,920 43,106 -0.00 50.267 85,098 10,060 95,158 145,425 245,543 Consulting services Reimbursed expenses Service revenues Total revenues Cost of Revenues: Cost of software licenses Amortization of acquired software technology Cost of maintenance services Cost of product revenues Cost of consulting services Reimbursed expenses Cost of service revenues Total cost of revenue Gross Profit Operating Expenses: Product development Sales and marketing General and administrative Amortization of intangibles Restructuring charges Acquisition-related costs Litigation provision and settlements, net Total operating expenses Operating Income Interest expense and amortization of loan fees Finance costs on abandoned acquisition Interest income and other, net Income (Loss) Before Income Taxes Income tax provision (benefit) Net Income Consideration paid in excess of carrying value on the repurchase of redeemable preferred stock Income Applicable to Common Shareholders Earnings Per Share Applicable to Common Shareholders Basic net income per common share Diluted net income per common share Shares used in computing basic net income per common share Shares used in computing diluted net income per common share (1) As restated - See Note 23 Restatement of Previously Issued Financial Statements of Notes to Consolidated Financial Statements See notes to Consolidated Financial Statements 76,898 104,128 72,493 38,421 1,922 72,723 91.341 72,112 38,415 20,931 8,115 14,000 4470 317,637 21,359 24,758 51.215 65.989 47,580 23,633 6,865 4,768 1,500 295,362 124 325 25,500 (3.791) 102,619 19,931 82,688 (1,478) (1,921) (4.062) w 200,050 45,493 2,712 (767) (1,213) we 44,761 17,186 27,575 (8,593) 18,982 2.141 $ 82.688 $ 2.141 1.95 $ S 0.54 $ $ 1.93 $ 0.05 0.05 41.173 41,710 42,412 42,761 0.54 34.936 35,258
