UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the Quarterly Period Ended September 30, 2004 |
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the transition period from to |
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Commission File Number 0-30881
CLICK COMMERCE, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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36-4088644 |
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(State or other
jurisdiction of |
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(I.R.S. Employer |
200 East Randolph Drive, 52 Floor
Chicago, Illinois 60601
(Address of principal executive offices)
(312) 482-9006
(Registrant’s telephone number, including area code)
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o
Indicate by check mark whether the registrant is an accelerated filer (as defined in Exchange Act Rule 12b-2). Yes o No x
As of November 12, 2004, there were 9,730,010 shares of the registrant’s common shares outstanding.
CLICK
COMMERCE, INC.
INDEX
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PART I. FINANCIAL INFORMATION
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September 30, 2004 |
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December 31, 2003 |
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ASSETS |
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Current assets: |
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Cash, and cash equivalents |
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$ |
11,520 |
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$ |
11,863 |
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Trade accounts receivable, net |
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6,637 |
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4,628 |
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Revenues earned on contracts in progress in excess of billings. |
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272 |
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— |
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Prepaids and other current assets |
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1,294 |
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820 |
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Total current assets |
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19,723 |
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17,311 |
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Property and equipment, net |
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886 |
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865 |
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Intangible assets, net |
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3,166 |
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359 |
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Goodwill |
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6,739 |
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— |
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Other assets |
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454 |
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659 |
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Total assets |
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$ |
30,968 |
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$ |
19,194 |
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LIABILITIES AND SHAREHOLDERS’ EQUITY |
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Current liabilities: |
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Accounts payable |
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$ |
598 |
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$ |
400 |
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Billings in excess of revenues earned on contracts in progress |
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92 |
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33 |
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Deferred revenue |
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5,110 |
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4,785 |
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Accrued compensation |
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1,612 |
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1,016 |
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Accrued expenses and other current liabilities |
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2,053 |
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1,832 |
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Total current liabilities |
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9,465 |
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8,066 |
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Other liabilities |
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24 |
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79 |
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Total liabilities |
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9,489 |
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8,145 |
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Shareholders’ equity: |
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Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued and outstanding |
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— |
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— |
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Common stock, $0.001 par value, 75,000,000 shares authorized; 9,755,199 and 8,390,432 shares issued as of September 30, 2004 and December 31, 2003, respectively; 9,726,135 and 8,361,368 shares outstanding as of September 30, 2004 and December 31, 2003, respectively |
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10 |
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8 |
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Additional paid-in capital |
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69,491 |
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62,498 |
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Accumulated other comprehensive income |
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152 |
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136 |
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Deferred compensation |
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— |
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(21 |
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Treasury stock, at cost—29,064 shares |
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(117 |
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(117 |
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Accumulated deficit |
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(48,057 |
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(51,455 |
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Total shareholders’ equity |
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21,479 |
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11,049 |
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Total liabilities and shareholders’ equity |
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$ |
30,968 |
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$ |
19,194 |
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The accompanying notes are an integral part of these condensed consolidated financial statements.
3
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Three months ended |
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Nine months ended |
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2004 |
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2003 |
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2004 |
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2003 | |||||