Delaware
|
13-3475943
|
|
(State
or other jurisdiction of
|
(I.R.S.
Employer Identification No.)
|
|
incorporation
or organization)
|
||
Three
University Plaza
|
||
Hackensack,
New Jersey
|
07601
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
|
(201)
488-1200
|
||
(Registrant's
telephone number)
|
Securities
registered under Section 12(b) of the Exchange Act:
|
||
Title
of Each Class
|
Name
of Each Exchange of Which Registered
|
|
Common
Stock $.01 par value
|
NASDAQ
Global Market
|
·
|
Publishing,
media and information services, including EBSCO and Reed Elsevier;
|
·
|
Defense
and aerospace, including Hamilton Sundstrand and Lockheed Martin;
|
·
|
Government
and regulation, including the Defense Intelligence Agency and the
Financial Accounting Standards
Board
|
·
|
Education
and culture, including the American Psychological Association and
Cornell
University
|
Common
Stock
|
|||||||
Sale
Prices
|
|||||||
2005
|
High
|
Low
|
|||||
First
Quarter
|
$
|
10.07
|
$
|
2.98
|
|||
Second
Quarter
|
3.96
|
2.30
|
|||||
Third
Quarter
|
3.73
|
2.25
|
|||||
Fourth
Quarter
|
3.63
|
2.25
|
|||||
2006
|
High
|
Low
|
|||||
First
Quarter
|
$
|
4.05
|
$
|
2.35
|
|||
Second
Quarter
|
3.06
|
2.06
|
|||||
Third
Quarter
|
2.48
|
1.53
|
|||||
Fourth
Quarter
|
2.41
|
1.61
|
Plan
Category
|
Number
of Securities to be Issued Upon Exercise of Outstanding Options,Warrants
and Rights
|
Weighted-Average
Exercise
Price of
Outstanding
Options,
Warrants
and Rights
|
Number
of Securities
Remaining
Available For
Future
Issuance Under
Equity
Compensation Plans
|
|||||||
(a)
|
(b)
|
(c)
|
||||||||
Equity
compensation plans
|
||||||||||
approved
by security holders
|
3,534,000
|
$
|
2.51
|
2,431,000
|
||||||
Equity
compensation plans
|
||||||||||
not
approved by security holders
|
1,015,000
|
(1)
|
$
|
0.84
|
-
|
|||||
Total
|
4,549,000
|
$
|
2.14
|
2,431,000
|
(1)
|
Consists
of stock options to purchase 1,015,164 shares of common stock granted
to
the Company's current Chairman pursuant to an agreement entered into
at
time of hire.
|
(a)
Total Number of Shares (or Units) Purchased
|
(b)
Average Price Paid per Share (or Unit)
|
(c)
Total Number of Shares (or Units) Purchased as Part of Publicly Announced
Plans or Programs
|
(d)
Maximum Number (or Approximate Dollar Value) of Shares (or Units)
that May
Yet Be Purchased Under the Plans or Programs
|
||||||||||
Month
#1 (October 1-31, 2006)
|
11,300
|
$
|
1.86
|
11,300
|
$
|
681,000
|
|||||||
Month
#2 (November 1-30, 2006)
|
-
|
-
|
-
|
$
|
681,000
|
||||||||
Month
#3 (December 1-31, 2006)
|
-
|
-
|
-
|
$
|
681,000
|
||||||||
Total
|
11,300
|
$
|
1.86
|
11,300
|
$
|
681,000
|
Year
Ended December 31,
|
||||||||||||||||
2006
|
|
2005
|
|
2004
|
|
2003
|
|
2002
|
||||||||
(In
thousands, except per share data)
|
||||||||||||||||
STATEMENT
OF OPERATIONS DATA:
|
||||||||||||||||
REVENUES
|
$
|
40,953
|
$
|
42,052
|
$
|
53,949
|
$
|
36,714
|
$
|
36,385
|
||||||
OPERATING
COSTS AND EXPENSES:
|
||||||||||||||||
Direct
operating expenses
|
34,141
|
30,920
|
33,050
|
27,029
|
32,005
|
|||||||||||
Selling
and administrative expenses
|
14,284
|
13,684
|
10,205
|
8,898
|
10,038
|
|||||||||||
Restructuring
costs and asset impairment
|
604
|
-
|
-
|
-
|
244
|
|||||||||||
49,029
|
44,604
|
43,255
|
35,927
|
42,287
|
||||||||||||
(LOSS)
INCOME BEFORE OTHER
|
||||||||||||||||
(INCOME)
EXPENSE
|
(8,076
|
)
|
(2,552
|
)
|
10,694
|
787
|
(5,902
|
)
|
||||||||
OTHER
(INCOME) AND EXPENSES
|
||||||||||||||||
Terminated
offering costs
|
-
|
-
|
625
|
-
|
-
|
|||||||||||
Bad
debt recovery, net
|
-
|
-
|
(963
|
)
|
-
|
-
|
||||||||||
Interest
expense
|
7
|
18
|
25
|
9
|
29
|
|||||||||||
Interest
income
|
(683
|
)
|
(457
|
)
|
(87
|
)
|
(30
|
)
|
(89
|
)
|
||||||
(LOSS)
INCOME BEFORE
|
||||||||||||||||
(BENEFIT
FROM) PROVISION FOR
|
||||||||||||||||
INCOME
TAXES
|
(7,400
|
)
|
(2,113
|
)
|
11,094
|
808
|
(5,842
|
)
|
||||||||
(BENEFIT
FROM) PROVISION FOR
|
||||||||||||||||
INCOME
TAXES
|
(77
|
)
|
(462
|
)
|
3,237
|
333
|
(677
|
)
|
||||||||
NET
(LOSS) INCOME
|
$
|
(7,323
|
)
|
$
|
(1,651
|
)
|
$
|
7,857
|
$
|
475
|
$
|
(5,165
|
)
|
|||
(LOSS)
INCOME PER SHARE:
|
||||||||||||||||
Basic
|
$
|
(.30
|
)
|
$
|
(.07
|
)
|
$
|
.35
|
$
|
.02
|
$
|
(.24
|
)
|
|||
Diluted
|
$
|
(.30
|
)
|
$
|
(.07
|
)
|
$
|
.32
|
$
|
.02
|
$
|
(.24
|
)
|
|||
Cash
dividends per share
|
-
|
-
|
-
|
-
|
-
|
December
31,
|
|
|||||||||||||||
|
|
2006
|
|
2005
|
|
2004
|
|
2003
|
|
2002
|
|
|||||
|
|
(In
thousands)
|
||||||||||||||
BALANCE
SHEET DATA:
|
||||||||||||||||
WORKING
CAPITAL
|
$
|
13,632
|
$
|
21,432
|
$
|
22,209
|
$
|
11,983
|
$
|
8,570
|
||||||
TOTAL
ASSETS
|
$
|
30,329
|
$
|
37,611
|
$
|
37,211
|
$
|
25,146
|
$
|
22,697
|
||||||
LONG
TERM OBLIGATIONS
|
$
|
904
|
$
|
548
|
$
|
150
|
$
|
272
|
-
|
|||||||
STOCKHOLDERS’
EQUITY
|
$
|
19,009
|
$
|
26,814
|
$
|
26,737
|
$
|
17,404
|
$
|
15,569
|
December
31, 2006
|
|
December
31, 2005
|
|||||
Cash
and Cash Equivalents
|
$
|
13,597
|
$
|
20,059
|
|||
Working
Capital
|
13,632
|
21,432
|
Payments
Due by Period
|
||||||||||||||||
Contractual
Obligations
|
Total
|
|
Less
than
1
year
|
|
1-3
years
|
|
4-5
years
|
|
After
5
years
|
|||||||
Capital
lease obligations
|
$
|
23
|
$
|
23
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
Non-cancelable
operating leases
|
3,262
|
1,010
|
2,240
|
12
|
-
|
|||||||||||
Long-term
vendor obligations
|
609
|
609
|
-
|
-
|
-
|
|||||||||||
Total
contractual cash obligations
|
$
|
3,894
|
$
|
1,642
|
$
|
2,240
|
$
|
12
|
$
|
-
|
PAGE
|
|
Report
of Independent Registered Public Accounting Firm
|
II-16
|
Consolidated
Balance Sheets as of December 31, 2006 and 2005
|
II-17
|
Consolidated
Statements of Operations for the three years ended
|
II-18
|
December
31, 2006
|
|
Consolidated
Statement of Stockholders’ Equity for the three years ended
|
II-19
|
December
31, 2006
|
|
Consolidated
Statements of Cash Flows for the three years ended
|
II-20
|
December
31, 2006
|
|
Notes
to Consolidated Financial Statements
|
II-21
|
2006
|
2005
|
||||||
ASSETS
|
|||||||
CURRENT
ASSETS:
|
|||||||
Cash
and cash equivalents
|
$
|
13,597
|
$
|
20,059
|
|||
Accounts
receivable-net of allowance for doubtful accounts of $70 and $111
at
December 31, 2006 and 2005 respectively
|
6,484
|
7,169
|
|||||
Prepaid
expenses and other current assets
|
1,589
|
1,543
|
|||||
Refundable
income taxes
|
1,062
|
1,215
|
|||||
Deferred
income taxes
|
190
|
338
|
|||||
Total
current assets
|
22,922
|
30,324
|
|||||
PROPERTY
AND EQUIPMENT-NET
|
4,564
|
4,823
|
|||||
OTHER
ASSETS
|
1,912
|
1,789
|
|||||
DEFERRED
INCOME TAXES
|
256
|
-
|
|||||
GOODWILL
|
675
|
675
|
|||||
TOTAL
|
$
|
30,329
|
$
|
37,611
|
|||
LIABILITIES
AND STOCKHOLDERS’ EQUITY
|
|||||||
CURRENT
LIABILITIES:
|
|||||||
Accounts
payable
|
$
|
987
|
$
|
1,529
|
|||
Accrued
expenses
|
2,117
|
1,770
|
|||||
Accrued
salaries, wages and related benefits
|
4,259
|
3,567
|
|||||
Income
and other taxes
|
1,295
|
1,363
|
|||||
Current
portion of long term obligations
|
632
|
663
|
|||||
Total
current liabilities
|
9,290
|
8,892
|
|||||
DEFERRED
INCOME TAXES
|
1,126
|
1,357
|
|||||
LONG
TERM OBLIGATIONS
|
904
|
548
|
|||||
COMMITMENTS
AND CONTINGENT LIABILITIES
|
|||||||
STOCKHOLDERS’
EQUITY:
|
|||||||
Serial
preferred stock; 5,000,000 shares authorized, none
outstanding
|
-
|
-
|
|||||
Common
stock, $.01 par value; 75,000,000 shares authorized; 24,087,000 issued
|
|||||||
and
23,905,000 outstanding at December 31, 2006; and 23,669,000 shares
issued
|
|||||||
and
outstanding at December 31, 2005
|
241
|
237
|
|||||
Additional
paid-in capital
|
17,225
|
16,632
|
|||||
Retained
earnings
|
2,622
|
9,945
|
|||||
Accumulated
other comprehensive income
|
(760
|
)
|
-
|
||||
19,328
|
26,814
|
||||||
Less:
treasury stock - at cost: 182,000 shares at December 31,
2006
|
(319
|
)
|
-
|
||||
Total
stockholders’ equity
|
19,009
|
26,814
|
|||||
TOTAL
|
$
|
30,329
|
$
|
37,611
|
2006
|
2005
|
2004
|
||||||||
REVENUES
|
$
|
40,953
|
$
|
42,052
|
$
|
53,949
|
||||
OPERATING
COSTS AND EXPENSES
|
||||||||||
Direct
operating costs
|
34,141
|
30,920
|
33,050
|
|||||||
Selling
and administrative expenses
|
14,284
|
13,684
|
10,205
|
|||||||
Restructuring
costs
|
604
|
-
|
-
|
|||||||
49,029
|
44,604
|
43,255
|
||||||||
(LOSS)
INCOME BEFORE OTHER (INCOME) AND EXPENSE
|
(8,076
|
)
|
(2,552
|
)
|
10,694
|
|||||
OTHER
(INCOME) AND EXPENSES
|
||||||||||
Terminated
offering costs
|
-
|
-
|
625
|
|||||||
Bad
debt recovery - net
|
-
|
-
|
(963
|
)
|
||||||
Interest
expense
|
7
|
18
|
25
|
|||||||
Interest
income
|
(683
|
)
|
(457
|
)
|
(87
|
)
|
||||
(LOSS)
INCOME BEFORE (BENEFIT FROM) PROVISION
|
||||||||||
FOR
INCOME TAXES
|
(7,400
|
)
|
(2,113
|
)
|
11,094
|
|||||
(BENEFIT
FROM) PROVISION FOR INCOME TAXES
|
(77
|
)
|
(462
|
)
|
3,237
|
|||||
NET
(LOSS) INCOME
|
$
|
(7,323
|
)
|
$
|
(1,651
|
)
|
$
|
7,857
|
||
(LOSS)
INCOME PER SHARE:
|
||||||||||
Basic:
|
$
|
(.30
|
)
|
$
|
(.07
|
)
|
$
|
.35
|
||
Diluted:
|
$
|
(.30
|
)
|
$
|
(.07
|
)
|
$
|
.32
|
||
WEIGHTED
AVERAGE SHARES OUTSTANDING:
|
||||||||||
Basic:
|
24,021
|
23,009
|
22,288
|
|||||||
Diluted:
|
24,021
|
23,009
|
24,817
|
Additional
|
Accumulated
|
|||||||||||||||||||||
Common
Stock
|
Paid-in
|
Retained
|
Comprehensive
|
Treasury
|
||||||||||||||||||
Shares
|
Amount
|
Capital
|
Earnings
|
Income
|
Stock
|
Total
|
||||||||||||||||
January
1, 2004
|
22,535
|
$
|
226
|
$
|
15,413
|
$
|
3,739
|
-
|
$
|
(1,974
|
)
|
$
|
17,404
|
|||||||||
Net
income
|
-
|
-
|
-
|
7,857
|
-
|
-
|
7,857
|
|||||||||||||||
Issuance
of common stock upon exercise of stock options
|
728
|
7
|
1,075
|
-
|
-
|
-
|
1,082
|
|||||||||||||||
Retirement
of treasury stock
|
(584
|
)
|
(6
|
)
|
(1,968
|
)
|
-
|
-
|
1,974
|
-
|
||||||||||||
Income
tax benefit from exercise of stock options
|
-
|
-
|
358
|
-
|
-
|
-
|
358
|
|||||||||||||||
Non-cash
equity compensation
|
-
|
-
|
36
|
-
|
-
|
-
|
36
|
|||||||||||||||
December
31, 2004
|
22,679
|
227
|
14,914
|
11,596
|
-
|
-0-
|
26,737
|
|||||||||||||||
Net
loss
|
-
|
-
|
-
|
(1,651
|
)
|
-
|
-
|
(1,651
|
)
|
|||||||||||||
Issuance
of common stock upon exercise of stock options
|
990
|
10
|
1,287
|
-
|
-
|
-
|
1,297
|
|||||||||||||||
Income
tax benefit from exercise of stock options
|
-
|
-
|
334
|
-
|
-
|
-
|
334
|
|||||||||||||||
Non-cash
equity compensation
|
-
|
-
|
97
|
-
|
-
|
-
|
97
|
|||||||||||||||
December
31, 2005
|
23,669
|
237
|
16,632
|
9,945
|
-
|
-0-
|
26,814
|
|||||||||||||||
Net
loss
|
-
|
-
|
-
|
(7,323
|
)
|
-
|
-
|
(7,323
|
)
|
|||||||||||||
Issuance
of common stock upon exercise of stock options
|
418
|
4
|
352
|
-
|
-
|
-
|
356
|
|||||||||||||||
Purchase
of treasury stock
|
(182
|
)
|
-
|
-
|
-
|
-
|
(319
|
)
|
(319
|
)
|
||||||||||||
Non-cash
equity compensation
|
-
|
-
|
241
|
-
|
-
|
-
|
241
|
|||||||||||||||
Adjustment
to initially apply FASB Statement 158, net of tax
|
-
|
-
|
-
|
-
|
(760
|
)
|
-
|
(760
|
)
|
|||||||||||||
December
31, 2006
|
23,905
|
$
|
241
|
$
|
17,225
|
$
|
2,622
|
$
|
(760
|
)
|
$
|
(319
|
)
|
$
|
19,009
|
2006
|
2005
|
2004
|
||||||||
OPERATING
ACTIVITIES:
|
||||||||||
Net
(loss) income
|
$
|
(7,323
|
)
|
$
|
(1,651
|
)
|
$
|
7,857
|
||
Adjustments
to reconcile net (loss) income to net cash
|
||||||||||
(used
in) provided by operating activities:
|
||||||||||
Depreciation
and amortization
|
3,437
|
3,160
|
3,924
|
|||||||
Non-cash
compensation
|
241
|
97
|
36
|
|||||||
Deferred
income taxes
|
(222
|
)
|
215
|
815
|
||||||
Changes
in operating assets and liabilities, net of acquisition:
|
||||||||||
Accounts
receivable
|
685
|
850
|
478
|
|||||||
Prepaid
expenses and other current assets
|
(665
|
)
|
167
|
(1,495
|
)
|
|||||
Refundable
income taxes
|
153
|
(1,215
|
)
|
1,075
|
||||||
Other
assets
|
(189
|
)
|
(355
|
)
|
(160
|
)
|
||||
Accounts
payable
|
(542
|
)
|
80
|
150
|
||||||
Accrued
expenses
|
347
|
(193
|
)
|
811
|
||||||
Accrued
salaries and wages
|
692
|
(412
|
)
|
1,114
|
||||||
Income
and other taxes
|
(68
|
)
|
393
|
1,064
|
||||||
Net
cash (used in) provided by operating activities
|
(3,454
|
)
|
1,136
|
15,669
|
||||||
INVESTING
ACTIVITIES:
|
||||||||||
Capital
expenditures
|
(2,329
|
)
|
(2,335
|
)
|
(2,051
|
)
|
||||
Decrease
in restricted cash
|
-
|
-
|
1,000
|
|||||||
Net
cash used in investing activities
|
(2,329
|
)
|
(2,335
|
)
|
(1,051
|
)
|
||||
FINANCING
ACTIVITIES:
|
||||||||||
Payment
of long-term obligations
|
(716
|
)
|
(702
|
)
|
(88
|
)
|
||||
Proceeds
from exercise of stock options
|
356
|
1,297
|
1,082
|
|||||||
Purchase
of treasury stock
|
(319
|
)
|
-
|
-
|
||||||
Net
cash (used in) provided by financing activities
|
(679
|
)
|
595
|
994
|
||||||
(DECREASE)
INCREASE IN CASH AND CASH EQUIVALENTS
|
(6,462
|
)
|
(604
|
)
|
15,612
|
|||||
CASH
AND CASH EQUIVALENTS, BEGINNING OF YEAR
|
20,059
|
20,663
|
5,051
|
|||||||
CASH
AND CASH EQUIVALENTS, END OF YEAR
|
$
|
13,597
|
$
|
20,059
|
$
|
20,663
|
||||
SUPPLEMENTAL
DISCLOSURES OF CASH FLOW INFORMATION
|
||||||||||
Cash
paid during the year for:
|
||||||||||
Income
taxes
|
$
|
340
|
$
|
504
|
$
|
1,237
|
||||
Interest
expense
|
$
|
7
|
$
|
18
|
$
|
25
|
||||
NON-CASH
INVESTING AND FINANCING ACTIVITIES:
|
||||||||||
Acquisition
of equipment utilizing capital leases
|
$
|
-
|
$
|
-
|
$
|
66
|
||||
Vendor
financed software licenses acquired
|
$
|
164
|
$
|
1,583
|
$
|
-
|
1.
|
DESCRIPTION
OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
|
|
Year
ended
|
|||
December
31, 2006
|
||||
Cost
of sales
|
$
|
80
|
||
Selling
and administrative expenses
|
101
|
|||
Restructuring
costs
|
60
|
|||
Total
share based compensation
|
$
|
241
|
Year
Ended December 31,
|
|||||||
2005
|
|
2004
|
|||||
(in
thousands,
|
|||||||
except
per share amounts)
|
|||||||
Net
(loss) income, as reported
|
$
|
(1,651
|
)
|
$
|
7,857
|
||
Deduct:
Total stock-based employee compensation
|
|||||||
determined
under fair value based method, net of related
|
|||||||
tax
effects
|
(6,731
|
)
|
(3,200
|
)
|
|||
Add:
Compensation expense included in the determination
|
|||||||
of
net (loss) income as reported, net of related tax effects,
related
|
|||||||
to
the extension of stock options
|
79
|
-
|
|||||
Pro
forma net (loss) income
|
$
|
(8,303
|
)
|
$
|
4,657
|
||
(Loss)
income per share:
|
|||||||
Basic-as
reported
|
$
|
(.07
|
)
|
$
|
.35
|
||
Basic-pro
forma
|
$
|
(.36
|
)
|
$
|
.21
|
||
Diluted-as
reported
|
$
|
(.07
|
)
|
$
|
.32
|
||
Diluted-pro
forma
|
$
|
(.36
|
)
|
$
|
.19
|
2.
|
PROPERTY
AND EQUIPMENT
|
December
31,
|
|||||||
|
2006
|
2005
|
|||||
Equipment
|
$
|
14,475
|
$
|
14,350
|
|||
Software
|
3,150
|
2,856
|
|||||
Furniture
and office equipment
|
1,328
|
1,070
|
|||||
Leasehold
improvements
|
3,317
|
2,573
|
|||||
Total
|
22,270
|
20,849
|
|||||
Less
accumulated depreciation and amortization
|
(17,706
|
)
|
(16,026
|
)
|
|||
$
|
4,564
|
$
|
4,823
|
3.
|
INCOME
TAXES
|
2006
|
2005
|
2004
|
||||||||
Current
income tax expense (benefit):
|
||||||||||
Foreign
|
$
|
191
|
$
|
144
|
$
|
174
|
||||
Federal
|
(35
|
)
|
(821
|
)
|
1,943
|
|||||
State
and local
|
(11
|
)
|
-
|
305
|
||||||
145
|
(677
|
)
|
2,422
|
|||||||
Deferred
income tax expense (benefit) provision
|
||||||||||
Foreign
|
$
|
(222
|
)
|
$
|
(52
|
)
|
$
|
4
|
||
Federal
|
-
|
139
|
693
|
|||||||
State
and local
|
-
|
128
|
118
|
|||||||
$
|
(222
|
)
|
$
|
215
|
$
|
815
|
||||
(Benefit
from) provision for income taxes
|
$
|
(77
|
)
|
$
|
(462
|
)
|
$
|
3,237
|
2006
|
2005
|
2004
|
||||||||
Federal
statutory rate
|
(34.0
|
)%
|
(34.0
|
)%
|
35.0
|
%
|
||||
Effect
of:
|
||||||||||
State
income taxes (net of federal tax benefit)
|
-
|
3.9
|
2.5
|
|||||||
Foreign
source losses for which no tax benefit is available
|
.9
|
2.2
|
1.5
|
|||||||
Foreign
entities subject to US federal income taxes
|
-
|
-
|
4.3
|
|||||||
Effect
of foreign tax holiday
|
(6.1
|
)
|
(25.9
|
)
|
(12.3
|
)
|
||||
Taxes
on foreign income at rates that differ from US
|
||||||||||
Statutory
rate
|
(1.2
|
)
|
(5.7
|
)
|
(1.4
|
)
|
||||
Change
in valuation allowance on deferred tax assets
|
43.4
|
33.4
|
-
|
|||||||
Other
|
(4.0
|
)
|
4.2
|
(0.4
|
)
|
|||||
Effective
rate
|
(1.0
|
)%
|
(21.9
|
)%
|
29.2
|
%
|
2006
|
|
2005
|
|||||
Deferred
income tax assets:
|
|||||||
Allowances
not currently deductible
|
$
|
145
|
$
|
285
|
|||
Depreciation
and amortization
|
239
|
155
|
|||||
Equity
compensation not currently deductible
|
559
|
382
|
|||||
Net
operating loss carryforward
|
4,396
|
1,006
|
|||||
Expenses
not deductible until paid
|
302
|
261
|
|||||
Total
gross deferred income tax assets before valuation
allowance
|
5,641
|
2,089
|
|||||
Valuation
allowance
|
(4,340
|
)
|
(1,127
|
)
|
|||
Net
deferred income tax assets
|
1,301
|
962
|
|||||
Deferred
income tax liabilities:
|
|||||||
Foreign
source income, not taxable until repatriated
|
(1,981
|
)
|
(1,981
|
)
|
|||
Net
deferred liability
|
$
|
(680
|
)
|
$
|
(1,019
|
)
|
|
Net
deferred income tax asset-current
|
190
|
338
|
|||||
Net
deferred income tax asset-long term
|
256
|
-
|
|||||
Net
deferred income tax liability-non-current
|
(1,126
|
)
|
(1,357
|
)
|
|||
Net
deferred income tax liability
|
$
|
(680
|
)
|
$
|
(1,019
|
)
|
2006
|
|
2005
|
|
2004
|
||||||
United
States
|
$
|
(9,707
|
)
|
$
|
(4,019
|
)
|
$
|
6,731
|
||
Foreign
|
2,307
|
1,906
|
4,363
|
|||||||
Total
|
$
|
(7,400
|
)
|
$
|
(2,113
|
)
|
$
|
11,094
|
4.
|
LONG
TERM OBLIGATIONS
|
Other
current assets
|
$
|
487
|
||
Other
assets (long-term)
|
608
|
|||
Property
and equipment
|
|
488
|
||
Total
|
$
|
1,583
|