ý
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
|
o
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO
________.
|
DELAWARE
|
02-0405716
|
|
(State
or Other Jurisdiction of
Incorporation
or Organization)
|
(I.R.S.
Employer
Identification
No.)
|
Large
accelerated filer o Accelerated
filer o
|
Non-accelerated
filer o
(Do not check if a smaller reporting
company)
|
Smaller
reporting company x
|
Page
#
|
||
PART
I.
|
FINANCIAL
INFORMATION
|
|
Item
1.
|
Financial
Statements (Unaudited)
|
|
a)
|
Condensed
Consolidated Balance Sheets: June 30, 2009 and September 30,
2008
|
3
|
b)
|
Condensed
Consolidated Statements of Operations: Three and Nine Months Ended June
30, 2009 and 2008
|
4
|
c)
|
Condensed
Consolidated Statements of Cash Flows: Nine Months Ended June 30, 2009 and
2008
|
5
|
d)
|
Notes
to Condensed Consolidated Financial Statements
|
6
|
Item
2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
16
|
Item
3.
|
Quantitative
and Qualitative Disclosures About Market Risk
|
24
|
Item
4.
|
Controls
and Procedures
|
25
|
PART
II.
|
OTHER
INFORMATION
|
|
Item
1.
|
Legal
Proceedings
|
26
|
Item
1A.
|
Risk
Factors
|
26
|
Item
6.
|
Exhibits
|
26
|
SIGNATURES
|
|
27
|
CERTIFICATIONS
|
|
28
|
June
30,
|
September
30,
|
|||||||
2009
|
2008
|
|||||||
ASSETS
|
||||||||
CURRENT
ASSETS:
|
||||||||
Cash
and equivalents
|
$ | 5,444 | $ | 4,885 | ||||
Accounts
receivable, less allowances for doubtful accounts and
sales
|
||||||||
returns
of $194,000 at June 30, 2009 and $236,000 at September 30,
2008
|
2,665 | 3,287 | ||||||
Inventories
|
70 | 57 | ||||||
Prepaid
expenses
|
325 | 361 | ||||||
Total
current assets
|
8,504 | 8,590 | ||||||
Property
and equipment, net
|
575 | 737 | ||||||
Goodwill
|
– | 6,116 | ||||||
Other
intangible assets, net
|
2,627 | 2,577 | ||||||
Restricted
cash
|
107 | 125 | ||||||
Other
long-term assets
|
20 | 24 | ||||||
$ | 11,833 | $ | 18,169 | |||||
LIABILITIES
AND SHAREHOLDERS’ EQUITY
|
||||||||
CURRENT
LIABILITIES:
|
||||||||
Accounts
payable
|
$ | 611 | $ | 1,028 | ||||
Accrued
expenses
|
2,202 | 2,385 | ||||||
Deferred
revenue
|
3,784 | 4,047 | ||||||
Total
current liabilities
|
6,597 | 7,460 | ||||||
LONG-TERM
LIABILITIES:
|
||||||||
Deferred
rent
|
71 | 120 | ||||||
Deferred
revenue - long-term
|
176 | 145 | ||||||
Deferred
tax liability
|
– | 262 | ||||||
Other
liabilities
|
119 | 100 | ||||||
Total
long-term liabilities
|
366 | 627 | ||||||
COMMITMENTS
AND CONTINGENCIES
|
||||||||
SHAREHOLDERS’
EQUITY:
|
||||||||
Common
stock, par value $.01; 20,000,000 shares authorized;
|
||||||||
issued,
5,938,605 shares and 5,928,604 shares, respectively;
|
||||||||
outstanding,
5,924,359 shares and 5,914,358 shares, respectively
|
59 | 59 | ||||||
Additional
paid-in capital
|
23,585 | 23,421 | ||||||
Accumulated
deficit
|
(17,624 | ) | (12,430 | ) | ||||
Accumulated
other comprehensive loss
|
(1,010 | ) | (828 | ) | ||||
5,010 | 10,222 | |||||||
Less
treasury stock, at cost—14,246 shares
|
(140 | ) | (140 | ) | ||||
Total
shareholders’ equity
|
4,870 | 10,082 | ||||||
$ | 11,833 | $ | 18,169 |
Three
Months Ended June 30,
|
Nine
Months Ended June 30,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
REVENUE:
|
||||||||||||||||
Software
licenses and subscriptions
|
$ | 2,605 | $ | 3,116 | $ | 8,419 | $ | 9,605 | ||||||||
Maintenance
and services
|
2,160 | 2,659 | 6,640 | 8,110 | ||||||||||||
Total
revenue
|
4,765 | 5,775 | 15,059 | 17,715 | ||||||||||||
COSTS
AND EXPENSES:
|
||||||||||||||||
Cost
of software licenses and subscriptions
|
574 | 556 | 1,635 | 1,678 | ||||||||||||
Cost
of maintenance and services
|
783 | 1,031 | 2,491 | 3,328 | ||||||||||||
Sales
and marketing
|
1,510 | 2,156 | 5,025 | 6,344 | ||||||||||||
Engineering
and product development
|
483 | 704 | 1,781 | 2,290 | ||||||||||||
General
and administrative
|
1,084 | 1,310 | 3,268 | 3,788 | ||||||||||||
Impairment
of goodwill and other intangible assets
|
– | – | 6,401 | – | ||||||||||||
Total
costs and expenses
|
4,434 | 5,757 | 20,601 | 17,428 | ||||||||||||
INCOME
(LOSS) FROM OPERATIONS
|
331 | 18 | (5,542 | ) | 287 | |||||||||||
Interest
income and other income (expense), net
|
(52 | ) | 95 | 112 | 240 | |||||||||||
INCOME
(LOSS) BEFORE INCOME TAXES
|
279 | 113 | (5,430 | ) | 527 | |||||||||||
Provision
(benefit) for income taxes
|
4 | 22 | (236 | ) | 106 | |||||||||||
NET
INCOME (LOSS)
|
$ | 275 | $ | 91 | $ | (5,194 | ) | $ | 421 | |||||||
Net
income (loss) per share—Basic
|
$ | 0.05 | $ | 0.02 | $ | (0.88 | ) | $ | 0.07 | |||||||
Net
income (loss) per share—Diluted
|
$ | 0.05 | $ | 0.02 | $ | (0.88 | ) | $ | 0.07 | |||||||
Weighted-Average
Shares Outstanding—Basic
|
5,924 | 5,902 | 5,918 | 5,809 | ||||||||||||
Weighted-Average
Shares Outstanding—Diluted
|
5,986 | 6,031 | 5,918 | 6,049 | ||||||||||||
Nine
Months Ended
|
||||||||
June
30,
|
||||||||
2009
|
2008
|
|||||||
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
||||||||
Net
income (loss)
|
$ | (5,194 | ) | $ | 421 | |||
Adjustments
to reconcile net income (loss) to cash provided by
|
||||||||
operating
activities:
|
||||||||
Impairment
of goodwill and other intangible assets
|
6,401 | – | ||||||
Depreciation
and amortization
|
744 | 633 | ||||||
Provision
for doubtful accounts and sales returns
|
(34 | ) | 140 | |||||
Stock-based
compensation
|
164 | 165 | ||||||
Deferred
income taxes
|
(262 | ) | 86 | |||||
Changes
in current assets and liabilities:
|
||||||||
Accounts
receivable
|
520 | 416 | ||||||
Inventories
|
(13 | ) | 7 | |||||
Prepaid
expenses and other assets
|
29 | 70 | ||||||
Accounts
payable, accrued expenses and other liabilities
|
(558 | ) | (624 | ) | ||||
Deferred
revenue
|
(98 | ) | (321 | ) | ||||
Cash
provided by operating activities
|
1,699 | 993 | ||||||
CASH
FLOWS FROM INVESTING ACTIVITIES:
|
||||||||
Purchases
of equipment and fixtures
|
(91 | ) | (219 | ) | ||||
Proceeds
from sale of equipment
|
– | 1 | ||||||
Purchase
of IDARS business
|
– | (425 | ) | |||||
Capitalized
software development costs
|
(831 | ) | (132 | ) | ||||
Decrease
in restricted cash
|
18 | – | ||||||
Decrease
in other assets
|
4 | 5 | ||||||
Cash
used in investing activities
|
(900 | ) | (770 | ) | ||||
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Proceeds
from exercise of stock options
|
– | 499 | ||||||
Cash
provided by financing activities
|
– | 499 | ||||||
EFFECT
OF EXCHANGE RATE CHANGES ON CASH AND EQUIVALENTS
|
(240 | ) | (117 | ) | ||||
INCREASE
IN CASH AND EQUIVALENTS
|
559 | 605 | ||||||
CASH
AND EQUIVALENTS, BEGINNING OF PERIOD
|
4,885 | 3,841 | ||||||
CASH
AND EQUIVALENTS, END OF PERIOD
|
$ | 5,444 | $ | 4,446 | ||||
SUPPLEMENTAL
INFORMATION:
|
||||||||
Income
taxes paid
|
$ | 11 | $ | 23 | ||||
Percentage
of total
|
Percentage
of total
|
|||||||||||||||||||||||
revenue
for the three
|
revenue
for the nine
|
Percentage
of total
|
||||||||||||||||||||||
months
ended
|
months
ended
|
accounts
receivable at
|
||||||||||||||||||||||
June
30,
|
June
30,
|
June
30,
|
June
30,
|
June
30,
|
September
30,
|
|||||||||||||||||||
2009
|
2008
|
2009
|
2008
|
2009
|
2008
|
|||||||||||||||||||
Ingram
Micro, Inc.
|
15 | % | 19 | % | 18 | % | 20 | % | 18 | % | 26 | % | ||||||||||||
Tech
Data
|
||||||||||||||||||||||||
Product
Management
|
10 | % | 12 | % | 7 | % | 9 | % | 12 | % | 4 | % | ||||||||||||
·
|
Level
1 – Observable inputs such as quoted prices in active
markets;
|
·
|
Level
2 – Inputs, other than the quoted prices in active markets, that are
observable either directly or indirectly;
and
|
·
|
Level
3 – Unobservable inputs in which there is little or no market data, which
require the reporting entity to develop its own
assumptions.
|
Quoted
Prices
|
||||||||||||||||
in
Active
|
Significant
|
|||||||||||||||
Markets
for
|
Other
|
Significant
|
||||||||||||||
Identical
|
Observable
|
Unobservable
|
||||||||||||||
Assets
|
Inputs
|
Inputs
|
||||||||||||||
Total
|
(Level
1)
|
(Level
2)
|
(Level
3)
|
|||||||||||||
Money
market funds
|
$ | 2,232 | $ | 2,232 | $ | – | $ | – | ||||||||
Treasury
deposits
|
1,074 | 1,074 | – | – | ||||||||||||
Total
|
$ | 3,306 | $ | 3,306 | $ | – | $ | – | ||||||||
Weighted
|
June
30, 2009
|
September
30, 2008
|
||||||||||||||||||||||||||
Average
|
Gross
|
Net
|
Gross
|
Net
|
||||||||||||||||||||||||
Identified
Intangible
|
Useful
Life
|
Carrying
|
Accumulated
|
Carrying
|
Carrying
|
Accumulated
|
Carrying
|
|||||||||||||||||||||
Asset
|
in
Years
|
Amount
|
Amortization
|
Amount
|
Amount
|
Amortization
|
Amount
|
|||||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||||||||
Capitalized
software
|
2
|
$ | 2,659 | $ | 1,551 | $ | 1,108 | $ | 1,828 | $ | 1,384 | $ | 444 | |||||||||||||||
Purchased
software
|
5
|
|
700 | 555 | 145 | 700 | 480 | 220 | ||||||||||||||||||||
Patents
|
20
|
160 | 38 | 122 | 160 | 33 | 127 | |||||||||||||||||||||
Customer
lists
|
10
|
1,790 | 656 | 1,134 | 1,790 | 531 | 1,259 | |||||||||||||||||||||
Non-compete
agreements
|
4
|
640 | 525 | 115 | 640 | 409 | 231 | |||||||||||||||||||||
Trademark
|
2
|
21 | 18 | 3 | 21 | 10 | 11 | |||||||||||||||||||||
Trademark
|
indefinite
|
– | – | – | 285 | – | 285 | |||||||||||||||||||||
Total
|
$ | 5,970 | $ | 3,343 | $ | 2,627 | $ | 5,424 | $ | 2,847 | $ | 2,577 | ||||||||||||||||
Fiscal Years Ended September
30,
|
(In thousands)
|
|||
Remainder
of fiscal 2009
|
$ | 245 | ||
2010
|
975 | |||
2011
|
543 | |||
2012
|
174 | |||
2013
|
174 | |||
2014
|
174 | |||
Thereafter
|
342 | |||
Total
estimated future amortization expense
|
$ | 2,627 | ||
Balance
at October 1, 2008
|
$
|
759
|
||
Additions
for prior year tax positions
|
25
|
|||
Balance
at June 30, 2009
|
$
|
784
|
Three
months ended June 30,
|
Nine
months ended June 30,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Sales
and marketing
|
$ | 12 | $ | 14 | $ | 37 | $ | 53 | ||||||||
Engineering
and product development
|
3 | 4 | 11 | 12 | ||||||||||||
General
and administrative
|
35 | 41 | 116 | 100 | ||||||||||||
$ | 50 | $ | 59 | $ | 164 | $ | 165 |
2009
|
2008
|
|
Expected life |
5
years
|
5
years
|
Expected volatility |
73.42%
|
72.79% -
73.26%
|
Weighted-average volatility |
73.42%
|
72.84%
|
Risk free interest rate |
1.88%
|
2.87% -
4.03%
|
Dividend yield |
0.0%
|
0.0%
|
Number
of Options
Outstanding
|
Weighted-Average
Exercise
Price
|
Weighted-Average
Remaining Contractual Term
|
Aggregate
Intrinsic Value $(000)
|
|||||||||||||
Outstanding,
October 1, 2008
|
581,856 | $ | 3.10 | |||||||||||||
Granted
|
26,500 | 1.61 | ||||||||||||||
Canceled
|
(26,164 | ) | 3.37 | |||||||||||||
Exercised
|
– | – | ||||||||||||||
Outstanding,
June 30, 2009
|
582,192 | $ | 3.02 | 4.47 | $ | 113 | ||||||||||
Vested
or expected to vest, June 30, 2009
|
572,805 | $ | 3.01 | 4.21 | $ | 113 | ||||||||||
Exercisable,
June 30, 2009
|
488,318 | $ | 2.89 | 4.21 | $ | 109 |
Three
Months Ended June 30,
|
Nine
Months Ended June 30,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Net
income (loss)
|
$ | 275 | $ | 91 | $ | (5,194 | ) | $ | 421 | |||||||
Other
comprehensive income (loss):
|
||||||||||||||||
Foreign
currency translation adjustments
|
170 | (77 | ) | (182 | ) | (101 | ) | |||||||||
Comprehensive
income (loss)
|
$ | 445 | $ | 14 | $ | (5,376 | ) | $ | 320 | |||||||
Three
Months Ended
|
Nine
Months Ended
|
|||||||||||||||
June
30,
|
June
30,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Business
Intelligence Solutions (including Monarch, Monarch
Data Pump, Monarch RMS, Monarch BI Server, Datawatch ES, Datawatch
Researcher, Visual Insight, iMergence and VorteXML)
|
72% | 67% | 72% | 67% | ||||||||||||
Content
Management Solutions (including Datawatch
BDS, Datawatch BDS Workflow and Datawatch
MailManager)
|
17% | 16% | 16% | 15% | ||||||||||||
Service
Management Solutions (including Visual QSM and
Visual HD)
|
11% | 17% | 12% | 18% | ||||||||||||
Total
|
100% | 100% | 100% | 100% | ||||||||||||
International
|
||||||||||||||||
(Principally
|
Intercompany
|
|||||||||||||||
Domestic
|
U.K.)
|
Eliminations
|
Total
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Total Revenue
|
||||||||||||||||
Three
months ended June 30, 2009
|
$ | 3,917 | $ | 1,056 | $ | (208 | ) | $ | 4,765 | |||||||
Three
months ended June 30, 2008
|
$ | 4,360 | $ | 1,755 | $ | (340 | ) | $ | 5,775 | |||||||
Nine
months ended June 30, 2009
|
$ | 12,272 | $ | 3,470 | $ | (683 | ) | $ | 15,059 | |||||||
Nine
months ended June 30, 2008
|
$ | 13,276 | $ | 5,471 | $ | (1,032 | ) | $ | 17,715 | |||||||
Total Operating Income
(Loss)
|
||||||||||||||||
Three
months ended June 30, 2009
|
$ | 342 | $ | (11 | ) | $ | – | $ | 331 | |||||||
Three
months ended June 30, 2008
|
$ | (65 | ) | $ | 83 | $ | – | $ | 18 | |||||||
Nine
months ended June 30, 2009
|
$ | (5,629 | ) | $ | 87 | $ | – | $ | (5,542 | ) | ||||||
Nine
months ended June 30, 2008
|
$ | 344 | $ | (57 | ) | $ | – | $ | 287 | |||||||
Non-current Assets
|
||||||||||||||||
At
June 30, 2009
|
$ | 3,288 | $ | 41 | $ | – | $ | 3,329 | ||||||||
At
September 30, 2008
|
$ | 9,515 | $ | 64 | $ | – | $ | 9,579 | ||||||||
·
|
Revenue
Recognition, Allowance for Bad Debts and Returns
Reserve
|
·
|
Income
Taxes
|
·
|
Capitalized
Software Development Costs
|
·
|
Goodwill,
Other Intangible Assets and Other Long-Lived
Assets
|
·
|
Accounting
for Stock-Based Compensation
|
Three
Months Ended
|
Nine
Months Ended
|
|||||||||||||||
June
30,
|
June
30,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
REVENUE:
|
||||||||||||||||
Software
licenses and subscriptions
|
54.7 | % | 54.0 | % | 55.9 | % | 54.2 | % | ||||||||
Maintenance
and services
|
45.3 | % | 46.0 | % | 44.1 | % | 45.8 | % | ||||||||
Total
Revenue
|
100.0 | % | 100.0 | % | 100.0 | % | 100.0 | % | ||||||||
COSTS
AND EXPENSES:
|
||||||||||||||||
Cost
of software licenses and subscriptions
|
12.1 | % | 9.6 | % | 10.9 | % | 9.5 | % | ||||||||
Cost
of maintenance and services
|
16.4 | % | 17.9 | % | 16.5 | % | 18.8 | % | ||||||||
Sales
and marketing
|
31.7 | % | 37.3 | % | 33.4 | % | 35.8 | % | ||||||||
Engineering
and product development
|
10.1 | % | 12.2 | % | 11.8 | % | 12.9 | % | ||||||||
General
and administrative
|
22.7 | % | 22.7 | % | 21.7 | % | 21.4 | % | ||||||||
Impairment
of goodwill and other intangible assets
|
0.0 | % | 0.0 | % | 42.5 | % | 0.0 | % | ||||||||
Total
costs and expenses
|
93.0 | % | 99.7 | % | 136.8 | % | 98.4 | % | ||||||||
INCOME
(LOSS) FROM OPERATIONS
|
7.0 | % | 0.3 | % | (36.8 | )% | 1.6 | % | ||||||||
Interest
income and other income (expense), net
|
(1.1 | )% | 1.7 | % | 0.7 | % | 1.4 | % | ||||||||
INCOME
(LOSS) BEFORE INCOME TAXES
|
5.9 | % | 2.0 | % | (36.1 | )% | 3.0 | % | ||||||||
Provision
(benefit) for income taxes
|
0.1 | % | 0.4 | % | (1.6 | )% | 0.6 | % | ||||||||
NET
INCOME (LOSS)
|
5.8 | % | 1.6 | % | (34.5 | )% | 2.4 | % | ||||||||
Three
Months Ended
|
||||||||||||||||
June
30,
|
Increase
|
Percentage
|
||||||||||||||
2009
|
2008
|
(Decrease)
|
Change
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Software
licenses and subscriptions
|
$ | 2,605 | $ | 3,116 | $ | (511 | ) | -16.4 | % | |||||||
Maintenance
and services
|
2,160 | 2,659 | (499 | ) | -18.8 | % | ||||||||||
Total
revenue
|
$ | 4,765 | $ | 5,775 | $ | (1,010 | ) | -17.5 | % | |||||||
Three
Months Ended
|
||||||||||||||||
June
30,
|
Increase
|
Percentage
|
||||||||||||||
2009
|
2008
|
(Decrease)
|
Change
|
|||||||||||||
(In thousands) | ||||||||||||||||
Cost
of software licenses and subscriptions
|
$ | 574 | $ | 556 | $ | 18 | 3.2 | % | ||||||||
Cost
of maintenance and services
|
783 | 1,031 | (248 | ) | -24.1 | % | ||||||||||
Sales
and marketing
|
1,510 | 2,156 | (646 | ) | -30.0 | % | ||||||||||
Engineering
and product development
|
483 | 704 | (221 | ) | -31.4 | % | ||||||||||
General
and administrative
|
1,084 | 1,310 | (226 | ) | -17.3 | % | ||||||||||
Total
costs and operating expenses
|
$ | 4,434 | $ | 5,757 | $ | (1,323 | ) | -23.0 | % | |||||||
Nine
Months Ended
|
||||||||||||||||
June
30,
|
Increase
|
Percentage
|
||||||||||||||
2009
|
2008
|
(Decrease)
|
Change
|
|||||||||||||
(In thousands) | ||||||||||||||||
Software
licenses and subscriptions
|
$ | 8,419 | $ | 9,605 | $ | (1,186 | ) | -12.3 | % | |||||||
Maintenance
and services
|
6,640 | 8,110 | (1,470 | ) | -18.1 | % | ||||||||||
Total
revenue
|
$ | 15,059 | $ | 17,715 | $ | (2,656 | ) | -15.0 | % | |||||||
Nine
Months Ended
|
||||||||||||||||
June
30,
|
Increase
|
Percentage
|
||||||||||||||
2009
|
2008
|
(Decrease)
|
Change
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Cost
of software licenses and subscriptions
|
$ | 1,635 | $ | 1,678 | $ | (43 | ) | -2.6 | % | |||||||
Cost
of maintenance and services
|
2,491 | 3,328 | (837 | ) | -25.2 | % | ||||||||||
Sales
and marketing
|
5,025 | 6,344 | (1,319 | ) | -20.8 | % | ||||||||||
Engineering
and product development
|
1,781 | 2,290 | (509 | ) | -22.2 | % | ||||||||||
General
and administrative
|
3,268 | 3,788 | (520 | ) | -13.7 | % | ||||||||||
Impairment
of goodwill and other intangible assets
|
6,401 | – | 6,401 | – | ||||||||||||
Total
costs and operating expenses
|
$ | 20,601 | $ | 17,428 | $ | 3,173 | 18.2 | % | ||||||||
Contractual
Obligations:
|
Total
|
Less
than 1 Year
|
1-3
Years
|
3-5
Years
|
More
than 5 Years
|
|||||||||||||||
(in
thousands)
|
||||||||||||||||||||
Operating
Lease
|
||||||||||||||||||||
Obligations
|
$ | 442 | $ | 249 | $ | 191 | $ | 2 | $ | – | ||||||||||
Other
Liabilities
|
$ | 119 | $ | – | $ | – | $ | – | $ | 119 | ||||||||||
31.1
|
Certification
of the Chief Executive Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
|
|
31.2
|
Certification
of the Chief Financial Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
|
|
32.1
|
Certification
of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
|
|
32.2
|
Certification
of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002.
|
DATAWATCH
CORPORATION
|
||
/s/
Kenneth P. Bero
|
||
Kenneth
P. Bero
|
||
President,
Chief Executive Officer, and
|
||
Director
(Principal Executive Officer)
|
||
/s/
Murray P. Fish
|
||
Murray
P. Fish
|
||
Chief
Financial Officer
|
||
(Principal
Financial Officer)
|