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 ý
|
Page
#
|
|||
PART I.
|
FINANCIAL INFORMATION
|
||
Item
1.
|
Financial
Statements (Unaudited)
|
||
a)
|
Condensed
Consolidated Balance Sheets:
|
||
March
31, 2009 and September 30, 2008
|
3
|
||
b)
|
Condensed
Consolidated Statements of Operations:
|
||
Three
and Six Months Ended March 31, 2009 and 2008
|
4
|
||
c)
|
Condensed
Consolidated Statements of Cash Flows:
|
||
Six
Months Ended March 31, 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
|
17
|
|
Item
3.
|
Quantitative
and Qualitative Disclosures About Market Risk
|
29
|
|
Item
4.
|
Controls
and Procedures
|
30
|
|
PART II.
|
OTHER INFORMATION
|
||
Item
1.
|
Legal
Proceedings
|
31
|
|
Item
1A.
|
Risk
Factors
|
31
|
|
Item
4
|
Submission
of Matters to a Vote of Security Holders
|
31
|
|
Item
6.
|
Exhibits
|
31
|
|
SIGNATURES
|
32
|
||
CERTIFICATIONS
|
33
|
March
31,
|
September
30,
|
|||||||
2009
|
2008
|
|||||||
ASSETS
|
||||||||
CURRENT
ASSETS:
|
||||||||
Cash
and equivalents
|
$ | 5,128 | $ | 4,885 | ||||
Accounts
receivable, net
|
2,635 | 3,287 | ||||||
Inventories
|
42 | 57 | ||||||
Prepaid
expenses
|
460 | 361 | ||||||
Total
current assets
|
8,265 | 8,590 | ||||||
Property
and equipment, net
|
648 | 737 | ||||||
Goodwill
|
— | 6,116 | ||||||
Other
intangible assets, net
|
2,552 | 2,577 | ||||||
Restricted
cash
|
107 | 125 | ||||||
Other
long-term assets
|
20 | 24 | ||||||
$ | 11,592 | $ | 18,169 | |||||
LIABILITIES
AND SHAREHOLDERS’ EQUITY
|
||||||||
CURRENT
LIABILITIES:
|
||||||||
Accounts
payable
|
$ | 663 | $ | 1,028 | ||||
Accrued
expenses
|
2,308 | 2,385 | ||||||
Deferred
revenue
|
3,892 | 4,047 | ||||||
Total
current liabilities
|
6,863 | 7,460 | ||||||
LONG-TERM
LIABILITIES:
|
||||||||
Deferred
rent
|
88 | 120 | ||||||
Deferred
revenue - long-term
|
153 | 145 | ||||||
Deferred
tax liability
|
— | 262 | ||||||
Other
liabilities
|
113 | 100 | ||||||
Total
long-term liabilities
|
354 | 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
|
23,535 | 23,421 | ||||||
Accumulated
deficit
|
(17,899 | ) | (12,430 | ) | ||||
Accumulated
other comprehensive loss
|
(1,180 | ) | (828 | ) | ||||
4,515 | 10,222 | |||||||
Less
treasury stock, at cost—14,246 shares
|
(140 | ) | (140 | ) | ||||
Total
shareholders’ equity
|
4,375 | 10,082 | ||||||
$ | 11,592 | $ | 18,169 |
Three
Months Ended March 31,
|
Six
Months Ended March 31,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
REVENUE:
|
||||||||||||||||
Software
licenses and subscriptions
|
$ | 2,973 | $ | 3,155 | $ | 5,813 | $ | 6,488 | ||||||||
Maintenance
and services
|
2,119 | 2,718 | 4,481 | 5,452 | ||||||||||||
Total
revenue
|
5,092 | 5,873 | 10,294 | 11,940 | ||||||||||||
COSTS
AND EXPENSES:
|
||||||||||||||||
Cost
of software licenses and subscriptions
|
531 | 550 | 1,061 | 1,122 | ||||||||||||
Cost
of maintenance and services
|
834 | 1,177 | 1,707 | 2,297 | ||||||||||||
Sales
and marketing
|
1,854 | 1,968 | 3,515 | 4,189 | ||||||||||||
Engineering
and product development
|
585 | 836 | 1,298 | 1,586 | ||||||||||||
General
and administrative
|
1,018 | 1,273 | 2,184 | 2,478 | ||||||||||||
Impairment
of goodwill and other intangible assets
|
6,401 | — | 6,401 | — | ||||||||||||
Total
costs and expenses
|
11,223 | 5,804 | 16,166 | 11,672 | ||||||||||||
INCOME
(LOSS) FROM OPERATIONS
|
(6,131 | ) | 69 | (5,872 | ) | 268 | ||||||||||
Interest
income and other income (expense), net
|
(7 | ) | 49 | 163 | 146 | |||||||||||
INCOME
(LOSS) BEFORE INCOME TAXES
|
(6,138 | ) | 118 | (5,709 | ) | 414 | ||||||||||
Provision
(benefit) for income taxes
|
(284 | ) | 35 | (240 | ) | 84 | ||||||||||
NET
INCOME (LOSS)
|
$ | (5,854 | ) | $ | 83 | $ | (5,469 | ) | $ | 330 | ||||||
Net
income (loss) per share—Basic
|
$ | (0.99 | ) | $ | 0.01 | $ | (0.92 | ) | $ | 0.06 | ||||||
Net
income (loss) per share—Diluted
|
$ | (0.99 | ) | $ | 0.01 | $ | (0.92 | ) | $ | 0.06 | ||||||
Weighted-Average
Shares Outstanding—Basic
|
5,916 | 5,871 | 5,915 | 5,762 | ||||||||||||
Weighted-Average
Shares Outstanding—Diluted
|
5,916 | 6,062 | 5,915 | 5,978 |
Six
Months Ended
|
||||||||
March
31,
|
||||||||
2009
|
2008
|
|||||||
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
||||||||
Net
income (loss)
|
$ | (5,469 | ) | $ | 330 | |||
Adjustments
to reconcile net income (loss) to cash provided by
|
||||||||
operating
activities:
|
||||||||
Impairment
of goodwill and other intangible assets
|
6,401 | — | ||||||
Depreciation
and amortization
|
448 | 412 | ||||||
Provision
for doubtful accounts and sales returns
|
(7 | ) | (9 | ) | ||||
Stock-based
compensation
|
114 | 106 | ||||||
Deferred
income taxes
|
(262 | ) | 58 | |||||
Changes
in current assets and liabilities:
|
||||||||
Accounts
receivable
|
418 | 203 | ||||||
Inventories
|
13 | 8 | ||||||
Prepaid
expenses and other
|
(115 | ) | (48 | ) | ||||
Accounts
payable, accrued expenses and other liabilities
|
(314 | ) | (459 | ) | ||||
Deferred
revenue
|
172 | (319 | ) | |||||
Cash
provided by operating activities
|
1,399 | 282 | ||||||
CASH
FLOWS FROM INVESTING ACTIVITIES:
|
||||||||
Purchases
of equipment and fixtures
|
(85 | ) | (138 | ) | ||||
Purchase
of IDARS business
|
— | (425 | ) | |||||
Capitalized
software development costs
|
(543 | ) | — | |||||
Decrease
in restricted cash
|
18 | — | ||||||
Other
assets
|
1 | 6 | ||||||
Cash
used in investing activities
|
(609 | ) | (557 | ) | ||||
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Proceeds
from exercise of stock options
|
— | 496 | ||||||
Cash
provided by financing activities
|
— | 496 | ||||||
EFFECT
OF EXCHANGE RATE CHANGES ON CASH AND EQUIVALENTS
|
(547 | ) | (35 | ) | ||||
INCREASE
IN CASH AND EQUIVALENTS
|
243 | 186 | ||||||
CASH
AND EQUIVALENTS, BEGINNING OF PERIOD
|
4,885 | 3,841 | ||||||
CASH
AND EQUIVALENTS, END OF PERIOD
|
$ | 5,128 | $ | 4,027 | ||||
SUPPLEMENTAL
INFORMATION:
|
||||||||
Income
taxes paid
|
$ | 8 | $ | 16 |
·
|
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
|
$ | 2,231 | $ | 2,231 | $ | — | $ | — | ||||||||
Treasury
deposits
|
1,421 | 1,421 | ||||||||||||||
Total
|
$ | 3,652 | $ | 3,652 | $ | — | $ | — |
Weighted
|
March
31, 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
|
$ | 2,372 | $ | 1,448 | $ | 924 | $ | 1,828 | $ | 1,384 | $ | 444 | |||||||||||||||
Purchased
software
|
5
|
700 | 530 | 170 | 700 | 480 | 220 | |||||||||||||||||||||
Patents
|
20
|
160 | 37 | 123 | 160 | 33 | 127 | |||||||||||||||||||||
Customer
lists
|
10
|
1,790 | 614 | 1,176 | 1,790 | 531 | 1,259 | |||||||||||||||||||||
Non-compete
agreements
|
4
|
640 | 486 | 154 | 640 | 409 | 231 | |||||||||||||||||||||
Trademark
|
2
|
21 | 16 | 5 | 21 | 10 | 11 | |||||||||||||||||||||
Trademark
|
indefinite
|
— | — | — | 285 | — | 285 | |||||||||||||||||||||
Total
|
$ | 5,683 | $ | 3,131 | $ | 2,552 | $ | 5,424 | $ | 2,847 | $ | 2,577 |
Fiscal
Years Ended September 30,
|
(In
thousands)
|
|||
Remainder
of fiscal 2009
|
$ | 482 | ||
2010
|
816 | |||
2011
|
390 | |||
2012
|
174 | |||
2013
|
174 | |||
2014
|
174 | |||
Thereafter
|
342 | |||
Total
estimated future amortization expense
|
$ | 2,552 |
Balance
at October 1, 2008
|
$
|
759
|
||
Additions
for prior year tax positions
|
17
|
|||
Balance
at March 31, 2009
|
$
|
776
|
Three
months ended March 31,
|
Six
months ended March 31,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Sales
and marketing
|
$ | 12 | $ | 14 | $ | 26 | $ | 39 | ||||||||
Engineering
and product development
|
4 | 4 | 7 | 8 | ||||||||||||
General
and administrative
|
40 | 37 | 81 | 59 | ||||||||||||
$ | 56 | $ | 55 | $ | 114 | $ | 106 |
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
|
(13,556)
|
3.75
|
||||||
Exercised
|
—
|
—
|
||||||
Outstanding,
March 31, 2009
|
594,800
|
$
|
3.02
|
4.64
|
$
39
|
|||
Vested
or expected to vest, March 31, 2009
|
583,275
|
$
|
3.01
|
4.38
|
$
39
|
|||
Exercisable,
March 31, 2009
|
479,547
|
$
|
2.86
|
4.29
|
$
39
|
Three
Months Ended March 31,
|
Six
Months Ended March 31,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Net
income (loss)
|
$ | (5,854 | ) | $ | 83 | $ | (5,469 | ) | $ | 330 | ||||||
Other
comprehensive loss:
|
||||||||||||||||
Foreign
currency translation adjustments
|
(27 | ) | (2 | ) | (352 | ) | (24 | ) | ||||||||
Comprehensive
income (loss)
|
$ | (5,881 | ) | $ | 81 | $ | (5,821 | ) | $ | 306 |
Three
Months Ended
|
Six
Months Ended
|
||||||
March
31,
|
March
31,
|
||||||
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)
|
73%
|
67%
|
72%
|
67%
|
|||
Content
Management Solutions (including Datawatch
BDS, Datawatch BDS Workflow and Datawatch
MailManager)
|
15%
|
15%
|
16%
|
15%
|
|||
Service
Management Solutions (including Visual QSM and
Visual HD)
|
12%
|
18%
|
12%
|
18%
|
|||
Total
|
100%
|
100%
|
100%
|
100%
|
International
|
||||||||||||||||
(Principally
|
Intercompany
|
|||||||||||||||
Domestic
|
U.K.)
|
Eliminations
|
Total
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Total Revenue
|
||||||||||||||||
Three
months ended March 31, 2009
|
$ | 4,126 | $ | 1,199 | $ | (233 | ) | $ | 5,092 | |||||||
Three
months ended March 31, 2008
|
$ | 4,377 | $ | 1,841 | $ | (345 | ) | $ | 5,873 | |||||||
Six
months ended March 31, 2009
|
$ | 8,354 | $ | 2,414 | $ | (474 | ) | $ | 10,294 | |||||||
Six
months ended March 31, 2008
|
$ | 8,916 | $ | 3,716 | $ | (692 | ) | $ | 11,940 | |||||||
Total Operating Income
(Loss)
|
||||||||||||||||
Three
months ended March 31, 2009
|
$ | (6,205 | ) | $ | 74 | $ | — | $ | (6,131 | ) | ||||||
Three
months ended March 31, 2008
|
$ | 57 | $ | 12 | $ | — | $ | 69 | ||||||||
Six
months ended March 31, 2009
|
$ | (5,971 | ) | $ | 99 | $ | — | $ | (5,872 | ) | ||||||
Six
months ended March 31, 2008
|
$ | 409 | $ | (141 | ) | $ | — | $ | 268 | |||||||
Non-current Assets
|
||||||||||||||||
At
March 31, 2009
|
$ | 3,287 | $ | 40 | $ | — | $ | 3,327 | ||||||||
At
September 30, 2008
|
$ | 9,515 | $ | 64 | $ | — | $ | 9,579 |
Three
Months Ended
|
Six
Months Ended
|
|||||||
March
31,
|
March
31,
|
|||||||
2009
|
2008
|
2009
|
2008
|
|||||
REVENUE:
|
||||||||
Software
licenses and subscriptions
|
58.4%
|
53.7%
|
56.5%
|
54.3%
|
||||
Maintenance
and services
|
41.6%
|
46.3%
|
43.5%
|
45.7%
|
||||
Total
Revenue
|
100.0%
|
100.0%
|
100.0%
|
100.0%
|
||||
COSTS
AND EXPENSES:
|
||||||||
Cost
of software licenses and subscriptions
|
10.4%
|
9.4%
|
10.3%
|
9.4%
|
||||
Cost
of maintenance and services
|
16.4%
|
20.0%
|
16.6%
|
19.2%
|
||||
Sales
and marketing
|
36.4%
|
33.5%
|
34.1%
|
35.0%
|
||||
Engineering
and product development
|
11.5%
|
14.2%
|
12.6%
|
13.3%
|
||||
General
and administrative
|
20.0%
|
21.7%
|
21.2%
|
20.8%
|
||||
Impairment
of goodwill and other intangible assets
|
125.7%
|
—
|
62.2%
|
—
|
||||
Total
costs and expenses
|
220.4%
|
98.8%
|
157.0%
|
97.7%
|
||||
INCOME
(LOSS) FROM OPERATIONS
|
-120.4%
|
1.2%
|
-57.0%
|
2.3%
|
||||
Interest
income and other income (expense), net
|
-0.1%
|
0.8%
|
1.6%
|
1.2%
|
||||
INCOME
(LOSS) BEFORE INCOME TAXES
|
-120.5%
|
2.0%
|
-55.4%
|
3.5%
|
||||
Provision
(benefit) for income taxes
|
-5.6%
|
0.6%
|
-2.3%
|
0.7%
|
||||
NET
INCOME (LOSS)
|
-114.9%
|
1.4%
|
-53.1%
|
2.8%
|
Three
Months Ended
|
||||||||||||||||
March
31,
|
Increase
|
Percentage
|
||||||||||||||
2009
|
2008
|
(Decrease)
|
Change
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Software
licenses and subscriptions
|
$ | 2,973 | $ | 3,155 | $ | (182 | ) | -5.8% | ||||||||
Maintenance
and services
|
2,119 | 2,718 | (599 | ) | -22.0% | |||||||||||
Total
revenue
|
$ | 5,092 | $ | 5,873 | $ | (781 | ) | -13.3% |
Three
Months Ended
|
||||||||||||||||
March
31,
|
Increase
|
Percentage
|
||||||||||||||
2009
|
2008
|
(Decrease)
|
Change
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Cost
of software licenses and subscriptions
|
$ | 531 | $ | 550 | $ | (19 | ) | -3.5% | ||||||||
Cost
of maintenance and services
|
834 | 1,177 | (343 | ) | -29.1% | |||||||||||
Sales
and marketing
|
1,854 | 1,968 | (114 | ) | -5.8% | |||||||||||
Engineering
and product development
|
585 | 836 | (251 | ) | -30.0% | |||||||||||
General
and administrative
|
1,018 | 1,273 | (255 | ) | -20.0% | |||||||||||
Impairment
of goodwill and other intangible assets
|
6,401 | — | 6,401 | |||||||||||||
Total
costs and operating expenses
|
$ | 11,223 | $ | 5,804 | $ | 5,419 | 93.4% |
Six
Months Ended
|
||||||||||||||||
March
31,
|
Increase
|
Percentage
|
||||||||||||||
2009
|
2008
|
(Decrease)
|
Change
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Software
licenses and subscriptions
|
$ | 5,813 | $ | 6,488 | $ | (675 | ) | -10.4% | ||||||||
Maintenance
and services
|
4,481 | 5,452 | (971 | ) | -17.8% | |||||||||||
Total
revenue
|
$ | 10,294 | $ | 11,940 | $ | (1,646 | ) | -13.8% |
Six
Months Ended
|
||||||||||||||||
March
31,
|
Increase
|
Percentage
|
||||||||||||||
2009
|
2008
|
(Decrease)
|
Change
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Cost
of software licenses and subscriptions
|
$ | 1,061 | $ | 1,122 | $ | (61 | ) | -5.4 | % | |||||||
Cost
of maintenance and services
|
1,707 | 2,297 | (590 | ) | -25.7 | % | ||||||||||
Sales
and marketing
|
3,515 | 4,189 | (674 | ) | -16.1 | % | ||||||||||
Engineering
and product development
|
1,298 | 1,586 | (288 | ) | -18.2 | % | ||||||||||
General
and administrative
|
2,184 | 2,478 | (294 | ) | -11.9 | % | ||||||||||
Impairment
of goodwill and other intangible assets
|
6,401 | — | 6,401 | |||||||||||||
Total
costs and operating expenses
|
$ | 16,166 | $ | 11,672 | $ | 4,494 | 38.5 | % |
Contractual
Obligations:
|
Total
|
Less
than 1 Year
|
1-3
Years
|
3-5
Years
|
More
than 5 Years
|
|||||||||||||||
(in
thousands)
|
||||||||||||||||||||
Operating
Lease
|
||||||||||||||||||||
Obligations
|
$ | 502 | $ | 262 | $ | 240 | $ | — | $ | — | ||||||||||
Other
Liabilities
|
$ | 113 | $ | — | $ | — | $ | — | $ | 113 |
(a)
|
The
Annual Meeting of Stockholders of Datawatch Corporation was held on March
20, 2009.
|
(b)
|
The
directors elected at the meeting were Kenneth P. Bero, Thomas H. Kelly,
Richard de J. Osborne, Terry W. Potter, David T. Riddiford, William B.
Simmons and James Wood, which constitute all of the directors of the
Company.
|
(c)
|
A
vote was proposed to elect the foregoing nominees to the Board of
Directors to serve for the ensuing year or until their respective
successors are duly elected and
qualified:
|
Nominee
|
Total Votes For:
|
Total Votes Withheld:
|
||
Kenneth
P. Bero
|
4,435,699
|
1,239,141
|
||
Thomas
H. Kelly
|
4,435,699
|
1,239,141
|
||
Richard
de J. Osborne
|
4,423,411
|
1,251,429
|
||
Terry
W. Potter
|
4,436,568
|
1,238,272
|
||
David
T. Riddiford
|
4,427,312
|
1,247,528
|
||
William
B. Simmons
|
4,427,312
|
1,247,528
|
||
James
Wood
|
4,435,699
|
1,239,141
|
(d)
|
No
information provided due to inapplicability of
item.
|
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)
|