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Thursday, February 24, 2011 2:15:29 PM
...."Question 1 for me tomorrow would be how many quarters that $9m in deferred revenue covers... If just one that is HUGE."
Answer: Two quarters, the 3rd and 4th quarters. From the CC transcript as follows:
"Brett Simpson – Arete
Okay. And just looking at your tax (should be tech, not tax) solutions business, if we back out what you sometimes disclose around the same, it look likes your Infineon business has dropped off in the last few quarters and you’ve also suggested that the $9 million deferral is related to tax (tech) solutions, so I’m sort of putting two together, but can you just give us a bit of backgrounds in terms of why we’re seeing this drop-off at Infineon?
William J. Merritt
Well, we kind of gave you the number for Q4 for the IP licensing activities associated with engineering services. So you can back that out and future revenues from that activity will depend on additional deals through the sale of additional services to those customers.
In terms of the deferred revenue that we backed out, we’d say approximately $9 million or so, that reduction came in the third and fourth quarter, so there’s about $4 million or so backed out in Q3, close to $5 million backed out in Q4. So that gives you an idea of the cash that’s coming in that we are not choosing, not to recognize as revenue at this point. Conservatively, I believe that probably it provides a pretty good explanation for why you see that going down over time.
Brett Simpson – Arete
And this is a technology solutions deferral essentially?
William J. Merritt
It is."
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