View Filing Data

Basic (in dollars per share)

^[1]

$ 45,262

$ (13,808)

$ 10,257

Net income (loss) per common share:

$ 0.48

$ (0.15)

$ 0.11

Diluted (in dollars per share)

$ 0.47

$ (0.15)

$ 0.11

Weighted average shares outstanding:

Basic (in shares)

93,586

93,780

93,488

Diluted (in shares)

95,410

93,780

95,853

[1]	Our provision for income taxes provided a net benefit of $54.0 million in fiscal 2011, due to the reversal of a significant portion of our U.S. valuation allowance in the fourth quarter of fiscal 2011. See Note 8 to our Consolidated Financial Statements, "Income Taxes," for further information.

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) $ in Millions	12 Months Ended
	Jun. 30, 2011 USD ($)
CONSOLIDATED STATEMENTS OF OPERATIONS
Net income tax benefit due to the reversal of a significant portion of U.S. valuation allowance	$ 54.0

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2011

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

Net unrealized losses on available for sale securities, net of tax effects of $28

^[1]

$ 45,262

$ (13,808)

$ 10,257

Other comprehensive (loss) income:

(52)

Foreign currency translation adjustments

(780)

(1,020)

1,590

Total other comprehensive (loss) income

(832)

(1,020)

1,590

Comprehensive income (loss)

$ 44,430

$ (14,828)

$ 11,847

[1]	Our provision for income taxes provided a net benefit of $54.0 million in fiscal 2011, due to the reversal of a significant portion of our U.S. valuation allowance in the fourth quarter of fiscal 2011. See Note 8 to our Consolidated Financial Statements, "Income Taxes," for further information.

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

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-Name Accounting Standards Codification
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-Publisher AICPA
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-Subparagraph d
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

Net of tax amount of the appreciation (loss) in value of unsold available-for-sale securities attributable to the parent entity. Excludes amounts related to other than temporary impairment (OTTI) losses.

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Amount after tax and reclassification adjustments, resulting from the process of expressing in the reporting currency of the reporting entity those amounts that are denominated or measured in a different currency, and from transactions whose terms are denominated in a currency other than the entity's functional currency, which is attributable to the parent entity.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Net of tax amount of other comprehensive income (loss) attributable to the parent entity.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) $ in Thousands	12 Months Ended
	Jun. 30, 2013 USD ($)
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net unrealized losses on available for sale securities, tax effects	$ 28

Tax effect of the appreciation (loss) in value of unsold available-for-sale securities attributable to the parent entity. Excludes amounts related to other than temporary impairment (OTTI) losses.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
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-Paragraph 1A
-Subparagraph (c)(3)
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Balance (in shares) at Jun. 30, 2010

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2013	Jun. 30, 2012
Current assets:
Cash and cash equivalents	$ 132,432	$ 165,242
Short-term marketable securities	57,015	0
Accounts receivable, net	36,988	31,450
Current portion of installments receivable, net	13,769	33,184
Collateralized receivables	0	6,297
Unbilled services	1,965	1,592
Prepaid expenses and other current assets	9,665	16,219
Prepaid income taxes	288	283
Current deferred tax assets	33,229	7,196
Total current assets	285,351	261,463
Long-term marketable securities	35,353	0
Non-current installments receivable, net	963	14,046
Property, equipment and leasehold improvements, net	7,829	7,037
Computer software development costs, net	1,742	1,689
Goodwill	19,132	19,399
Non-current deferred tax assets	25,250	58,559
Other non-current assets	7,128	6,142
Total assets	382,748	368,335
Current liabilities:
Secured borrowings	0	10,756
Accounts payable	846	2,566
Accrued expenses and other current liabilities	34,421	37,989
Income taxes payable	1,697	598
Current deferred revenue	178,341	143,578
Current deferred tax liabilities	156	232
Total current liabilities	215,461	195,719
Non-current deferred revenue	53,012	43,595
Other non-current liabilities	12,377	15,429
Commitments and contingencies (Note 9)
Series D redeemable convertible preferred stock
$0.10 par value- Authorized- 3,636 shares as of June 30, 2013 and 2012 Issued and outstanding- none as of June 30, 2013 and 2012
Stockholders' equity:
Common stock, $0.10 par value - Authorized -210,000,000 shares Issued - 99,945,545 shares at June 30, 2013 and 96,663,580 shares at June 30, 2012 Outstanding- 93,683,769 shares at June 30, 2013 and 93,465,955 shares at June 30, 2012	9,995	9,666
Additional paid-in capital	575,770	547,546
Accumulated deficit	(349,817)	(395,079)
Accumulated other comprehensive income	7,263	8,095
Treasury stock, at cost - 6,261,776 shares of common stock at June 30, 2013 and 3,197,625 at June 30, 2012	(141,313)	(56,636)
Total stockholders' equity	101,898	113,592
Total liabilities and stockholders' equity	$ 382,748	$ 368,335

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2013	Jun. 30, 2012
CONSOLIDATED BALANCE SHEETS
Series D redeemable convertible preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Series D redeemable convertible preferred stock, Authorized	3,636	3,636
Series D redeemable convertible preferred stock, Issued	0	0
Series D redeemable convertible preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, Authorized	210,000,000	210,000,000
Common stock, Issued	99,945,545	96,663,580
Common stock, Outstanding	93,683,769	93,465,955
Treasury stock, shares	6,261,776	3,197,625

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands

Total

Common Stock

Additional Paid-in Capital

Accumulated Deficit

Accumulated Other Comprehensive Income

Treasury Stock

Balance at Jun. 30, 2010

$ 140,970

$ 9,267

$ 515,729

$ (391,038)

$ 7,525

$ (513)

92,668,280

233,464

Comprehensive income (loss):

Other comprehensive income

10,257

^[1]

10,257

1,590

Exercise of stock options

9,703

$ 150

9,553

$ 0

Exercise of stock options (in shares)

1,506,969

Issuance of restricted stock units

(3,885)

$ 58

(3,943)

$ 0

Issuance of restricted stock units (in shares)

572,862

Conversion of warrants

$ 42

(42)

$ 0

Conversion of warrants (in shares)

424,753

Retirement of treasury stock

$ (23)

(490)

$ 513

Retirement of treasury stock (in shares)

(233,464)

Repurchase of common stock

(10,531)

$ 0

$ (10,531)

Repurchase of common stock (in shares)

701,030

Balance (in shares) at Jun. 30, 2011

9,699

$ 0

9,699

$ 0

Balance at Jun. 30, 2011

157,803

$ 9,494

530,996

(381,271)

9,115

$ (10,531)

94,939,400

701,030

Comprehensive income (loss):

Other comprehensive income

(13,808)

^[1]

(13,808)

(1,020)

Exercise of stock options

8,913

$ 120

8,793

$ 0

Exercise of stock options (in shares)

1,204,010

Issuance of restricted stock units

(4,597)

$ 52

(4,649)

$ 0

Issuance of restricted stock units (in shares)

520,170

Repurchase of common stock

$ (46,105)

$ 0

$ (46,105)

Repurchase of common stock (in shares)

2,496,595

Balance (in shares) at Jun. 30, 2012

$ 12,406

$ 0

12,406

$ 0

Balance at Jun. 30, 2012

$ 113,592

$ 9,666

547,546

(395,079)

8,095

$ (56,636)

96,663,580

3,197,625

Comprehensive income (loss):

Other comprehensive income

$ 45,262

^[1]

45,262

(832)

Exercise of stock options

21,143

$ 275

20,868

$ 0

Exercise of stock options (in shares)

2,743,772

Issuance of restricted stock units

(7,705)

$ 54

(7,759)

$ 0

Issuance of restricted stock units (in shares)

538,193

Repurchase of common stock

$ (84,677)

$ 0

$ (84,677)

Repurchase of common stock (in shares)

3,064,151

Excess tax benefits from stock-based compensation

$ 14,637

$ 0

14,637

$ 0

478

Balance at Jun. 30, 2013

$ 101,898

$ 9,995

$ 575,770

$ (349,817)

$ 7,263

$ (141,313)

Balance (in shares) at Jun. 30, 2013

99,945,545

6,261,776

[1]	Our provision for income taxes provided a net benefit of $54.0 million in fiscal 2011, due to the reversal of a significant portion of our U.S. valuation allowance in the fourth quarter of fiscal 2011. See Note 8 to our Consolidated Financial Statements, "Income Taxes," for further information.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2011

Cash flows from operating activities:

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

^[1]

$ 45,262

$ (13,808)

$ 10,257

Depreciation and amortization

5,229

5,278

5,336

Net foreign currency (gain) loss

(952)

953

(2,167)

Excess tax benefits from stock-based compensation

14,637

12,406

9,699

Deferred income taxes

5,127

(4,827)

(64,264)

Provision for bad debts

489

(2,755)

Write-down of investment

600

(478)

Other non-cash operating activities

818

(1,695)

453

Changes in assets and liabilities:

Accounts receivable

(6,094)

(4,285)

5,981

Unbilled services

(380)

734

(477)

Prepaid expenses, prepaid income taxes, and other assets

3,827

(3,918)

(773)

Installments and collateralized receivables

39,419

57,003

72,752

Accounts payable, accrued expenses and other liabilities

(4,947)

(1,583)

(12,758)

Deferred revenue

44,605

58,357

41,446

Net cash provided by operating activities

146,562

104,637

63,330

Cash flows from investing activities:

Purchase of marketable securities

(97,597)

Maturities of marketable securities

4,549

Purchase of property, equipment and leasehold improvements

(4,507)

(4,241)

(2,839)

Insurance proceeds

2,222

Purchase of technology intangibles

(902)

Payments for acquisitions, net of cash acquired

(2,617)

Capitalized computer software development costs

(1,156)

(511)

(1,990)

Net cash used in investing activities

(97,391)

(7,369)

(4,829)

Cash flows from financing activities:

Exercise of stock options and warrants

21,143

8,913

9,703

Proceeds from secured borrowings

4,982

2,500

Repayments of secured borrowings

(11,010)

(44,892)

(32,051)

Repurchases of common stock

(84,677)

(46,105)

(10,531)

Payment of tax withholding obligations related to restricted stock

(7,705)

(4,597)

(3,885)

Excess tax benefits from stock-based compensation

478

Net cash used in financing activities

(81,771)

(81,699)

(34,264)

Effect of exchange rate changes on cash and cash equivalents

(210)

(312)

803

(Decrease) increase in cash and cash equivalents

(32,810)

15,257

25,040

Cash and cash equivalents, beginning of year

165,242

149,985

124,945

Cash and cash equivalents, end of year

132,432

165,242

149,985

Supplemental disclosure of cash flow information:

Income tax paid (refunded), net

4,645

2,707

(2,112)

Interest paid

$ 424

$ 4,206

$ 5,476

[1]	Our provision for income taxes provided a net benefit of $54.0 million in fiscal 2011, due to the reversal of a significant portion of our U.S. valuation allowance in the fourth quarter of fiscal 2011. See Note 8 to our Consolidated Financial Statements, "Income Taxes," for further information.

Operations	12 Months Ended
Operations	Jun. 30, 2013
Operations
Operations	(1) Operations Aspen Technology, Inc., together with its subsidiaries, is a leading global provider of mission-critical process optimization software solutions, which are designed to manage and optimize plant and process design, operational performance, and supply chain planning. Our aspenONE software and related services have been developed for companies in the process industries, which consist of energy, chemicals, engineering and construction, as well as consumer packaged goods, power, metals and mining, pulp and paper, pharmaceuticals and biofuels. Customers use our solutions to improve their competitiveness and profitability by increasing throughput and productivity, reducing operating costs, enhancing capital efficiency, and decreasing working capital requirements. We operate globally in 30 countries as of June 30, 2013.

Significant Accounting Policies

12 Months Ended

Jun. 30, 2013

Significant Accounting Policies

Significant Accounting Policies

(2) Significant Accounting Policies

(a) Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Aspen Technology, Inc. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Reclassifications

Certain line items in prior period financial statements have been reclassified to conform to currently reported presentations.

(b) Management Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

(c) Cash and Cash Equivalents

Cash and cash equivalents consist of short-term, highly liquid investments with remaining maturities of three months or less when purchased.

(d) Marketable Securities

The following table summarizes the fair value, the amortized cost and unrealized holding gains (losses) on our marketable securities as of June 30, 2013:

	Fair Value		Cost		Unrealized Gains		Unrealized Losses

	(Dollars in Thousands)
U.S. corporate bonds	$	57,015	$	57,046	$	8	$	(39	)

Total short-term marketable securities	$	57,015	$	57,046	$	8	$	(39	)

U.S. corporate bonds	$	35,353	$	35,402	$	—	$	(49	)

Total long-term marketable securities	$	35,353	$	35,402	$	—	$	(49	)

Our marketable securities are classified as available-for-sale and reported at fair value on the consolidated balance sheets. Net unrealized losses are reported as a separate component of accumulated other comprehensive income, net of tax. Realized gains and losses on investments are recognized in earnings as incurred. Our investments consist primarily of investment grade fixed income corporate debt securities with maturity dates ranging from July 2013 through February 2015.

We review our marketable securities for impairment at each reporting period to determine if any of our securities have experienced an other-than-temporary decline in fair value in accordance with the provisions of ASC Topic 320, Investments—Debt and Equity Securities. We consider factors, such as the length of time and extent to which the market value has been less than the cost, the financial condition and near-term prospects of the issuer and our intent to sell, or whether it is more likely than not we will be required to sell, the investment before recovery of its amortized cost basis. If we believe that other-than-temporary decline in fair value has occurred, we write down investments to fair value and recognize credit losses in earnings and other impairment losses in accumulated other comprehensive income. During fiscal 2013, our marketable securities were not considered other-than-temporarily impaired and, as such, we did not recognize impairment losses during the period then ended. Unrealized losses are attributable to changes in interest rates.

(e) Property and Equipment

Property and equipment are stated at cost. We provide for depreciation and amortization, primarily computed using the straight-line method, by charges to operations in amounts estimated to allocate the cost of the assets over their estimated useful lives, as follows:

Asset Classification		Estimated Useful Life

Computer equipment		3 years
Purchased software		3 - 5 years
Furniture and fixtures		3 - 10 years
Leasehold improvements		Life of lease or asset, whichever is shorter

Depreciation expense was $3.4 million, $3.5 million and $3.8 million for fiscal 2013, 2012 and 2011, respectively.

(f) Revenue Recognition

Overview of Licensing Model Changes

Transition to the aspenONE Licensing Model

Prior to fiscal 2010, we offered term or perpetual licenses to specific products, or specifically defined sets of products, which we refer to as point products. The majority of our license revenue was recognized under an "upfront revenue model," in which the net present value of the aggregate license fees was recognized as revenue upon shipment of the point products. Customers typically received one year of post-contract software maintenance and support, or SMS, with their license agreements and then could elect to renew SMS annually. Revenue from SMS was recognized ratably over the period in which the SMS was delivered.

In fiscal 2010, we introduced the following changes to our licensing model:

(i)

We began offering our aspenONE software on a subscription basis, allowing our customers access to all products within a licensed suite (aspenONE Engineering or aspenONE Manufacturing and Supply Chain). SMS is included for the entire term of the arrangement and customers are entitled to any software products or updates introduced into the licensed suite. We refer to this license arrangement as our aspenONE licensing model.

(ii)

We began to include SMS for the entire term on our point product term arrangements.

Revenue related to our aspenONE licensing model is recognized over the term of the arrangement on a ratable basis. During fiscal 2010 and 2011, license revenue related to our point product arrangements with SMS included for the entire term of the arrangement was generally recognized on the due date of each annual installment, provided all revenue recognition criteria were met. Beginning in fiscal 2012, with the introduction of our Premier Plus SMS offering, we were unable to establish evidence of the fair value for the SMS component, and revenue from these arrangements is now recognized on a ratable basis.

The changes to our licensing model introduced in fiscal 2010 did not change the method or timing of customer billings or cash collections. Since the introduction of these changes, our net cash provided by operating activities has increased in each annual period from $33.0 million in fiscal 2009 to $146.6 million in fiscal 2013. During these periods we have realized steadily improving cash flow due to growth of our portfolio of term license contracts, as well as from the renewal of customer contracts, on an installment basis, that were previously paid upfront.

Impact of Licensing Model Changes

The principal accounting implications of the changes to our licensing model in fiscal 2010 are as follows:

•

Prior to fiscal 2010, the majority of our license revenue was recognized on an upfront basis. Since the upfront model resulted in the net present value of multiple years of future installments being recognized at the time of shipment, the changes to our licensing model resulted in a significant reduction in our software license revenue for fiscal 2010, 2011 and 2012 as compared to the fiscal years preceding our licensing model changes. These changes did not impact the incurrence or timing of our expenses, and there was no corresponding expense reduction to offset the lower revenue, resulting in operating losses for fiscal 2010, 2011 and 2012.

•

The SMS component of our services and other revenue has decreased, and been offset by a corresponding increase in subscription and software revenue as customers have transitioned to our aspenONE licensing model. Under our aspenONE licensing model and for point product arrangements with Premier Plus SMS included for the full contract term, the entire arrangement fee, including the SMS component, is included within subscription and software revenue.

•

Installment payments from aspenONE agreements and from point product arrangements with SMS included for the contract term are not considered fixed or determinable, and as a result, are not included in installments receivable. Accordingly, our installments receivable balance has decreased as licenses previously executed under our upfront revenue model reached the end of their terms.

•

The amount of our deferred revenue has increased as more revenue from our term license portfolio has been recognized on a ratable basis.

Introduction of our Premier Plus SMS Offering

Beginning in fiscal 2012, we introduced our Premier Plus SMS offering to provide more value to our customers. As part of this offering, customers receive 24x7 support, faster response times, dedicated technical advocates and access to web-based training modules. The Premier Plus SMS offering is only provided to customers that commit to SMS for the entire term of the arrangement. Our annually renewable legacy SMS offering continues to be available to customers with legacy term and perpetual license agreements.

The introduction of our Premier Plus SMS offering in fiscal 2012 resulted in a change to the revenue recognition of point product arrangements that include Premier Plus SMS for the term of the arrangement. Since we do not have vendor-specific objective evidence of fair value, or VSOE, for our Premier Plus SMS offering, the SMS element of our point product arrangements is not separable, resulting in revenue being recognized ratably over the term of the arrangement, once the other revenue recognition criteria have been met. Prior to fiscal 2012, license revenue was recognized on the due date of each annual installment, provided all revenue recognition criteria were met. The introduction of our Premier Plus SMS offering did not change the revenue recognition for our aspenONE licensing arrangements.

Revenue Recognition

We generate revenue from the following sources: (1) licensing software products; (2) providing SMS and training; and (3) providing professional services. We sell our software products to end users under fixed-term and perpetual licenses. As a standard business practice, we offer extended payment term options for our fixed-term license arrangements, which are generally payable on an annual basis. Certain of our fixed-term license agreements include product mixing rights that allow customers the flexibility to change or alternate the use of multiple products included in the license arrangement after those products are delivered to the customer. We refer to these arrangements as token arrangements. Tokens are fixed units of measure. The amount of software usage is limited by the number of tokens purchased by the customer.

Four basic criteria must be satisfied before software license revenue can be recognized: persuasive evidence of an arrangement between us and an end user; delivery of our product has occurred; the fee for the product is fixed or determinable; and collection of the fee is probable.

Persuasive evidence of an arrangement—We use a signed contract as evidence of an arrangement for software licenses and SMS. For professional services we use a signed contract and a work proposal to evidence an arrangement. In cases where both a signed contract and a purchase order are required by the customer, we consider both taken together as evidence of the arrangement.

Delivery of our product—Software and the corresponding access keys are generally delivered to customers via disk media with standard shipping terms of Free Carrier, our warehouse (i.e., FCA, named place). Our software license agreements do not contain conditions for acceptance.

Fee is fixed or determinable—We assess whether a fee is fixed or determinable at the outset of the arrangement. Significant judgment is involved in making this assessment.

Under our upfront revenue model, we are able to demonstrate that the fees are fixed or determinable for all arrangements, including those for our term licenses that contain extended payment terms. We have an established history of collecting under the terms of these contracts without providing concessions to customers. In addition, we also assess whether a contract modification to an existing term arrangement constitutes a concession. In making this assessment, significant analysis is performed to ensure that no concessions are given. Our software license agreements do not include a right of return or exchange. For license arrangements executed under the upfront revenue model, we recognize license revenue upon delivery of the software product, provided all other revenue recognition requirements are met.

We cannot assert that the fees under our aspenONE licensing model and point product arrangements with Premier Plus SMS are fixed or determinable because the rights provided to customers, and the economics of the arrangements, are not comparable to our transactions with other customers under the upfront revenue model. As a result, the amount of revenue recognized for these arrangements is limited by the amount of customer payments that become due.

Collection of fee is probable—We assess the probability of collecting from each customer at the outset of the arrangement based on a number of factors, including the customer's payment history, its current creditworthiness, economic conditions in the customer's industry and geographic location, and general economic conditions. If in our judgment collection of a fee is not probable, revenue is recognized as cash is collected, provided all other conditions for revenue recognition have been met.

Vendor-Specific Objective Evidence of Fair Value

We have established VSOE for certain SMS offerings, professional services, and training, but not for our software products or our Premier Plus SMS offering. We assess VSOE for SMS, professional services, and training, based on an analysis of standalone sales of the offerings using the bell-shaped curve approach. During fiscal 2011, we used optional renewals of SMS on our legacy term license arrangements to support VSOE for SMS included in our fixed term point product arrangements which include SMS for the term of the arrangement. We do not have a history of selling our Premier Plus SMS offering to customers on a standalone basis, and as a result are unable to establish VSOE for this new deliverable.

We allocate the arrangement consideration among the elements included in our multi-element arrangements using the residual method. Under the residual method, the VSOE of the undelivered elements is deferred and the remaining portion of the arrangement fee for perpetual and term licenses is recognized as revenue upon delivery of the software, assuming all other revenue recognition criteria are met. If VSOE does not exist for an undelivered element in an arrangement, revenue is deferred until such evidence does exist for the undelivered elements, or until all elements are delivered, whichever is earlier. Under the upfront revenue model, the residual license fee is recognized upon delivery of the software provided all other revenue recognition criteria were met. Arrangements that qualify for upfront recognition include sales of perpetual licenses, amendments to existing legacy term arrangements and renewals of legacy term arrangements.

Subscription and Software Revenue

Subscription and software revenue consists of product and related revenue from our (i) aspenONE licensing model, including SMS; (ii) point product arrangements with our Premier Plus SMS offering included for the contract term; (iii) legacy arrangements including (a) amendments to existing legacy term arrangements, (b) renewals of legacy term arrangements and (c) legacy arrangements that are being recognized over time as a result of not previously meeting one or more of the requirements for recognition under the upfront revenue model; and (iv) perpetual arrangements.

When a customer elects to license our products under our aspenONE licensing model, our Premier Plus SMS offering is included for the entire term of the arrangement and the customer receives, for the term of the arrangement, the right to any new unspecified future software products and updates that may be introduced into the licensed aspenONE software suite. Due to our obligation to provide unspecified future software products and updates, we are required to recognize revenue ratably over the term of the arrangement, once the other revenue recognition criteria noted above have been met.

Our point product arrangements with Premier Plus SMS include SMS for the term of the arrangement. Since we do not have VSOE for our Premier Plus SMS offering, the SMS element of our point product arrangements is not separable. As a result, revenue associated with point product arrangements with Premier Plus SMS included for the contract term is recognized ratably over the term of the arrangement, once the other revenue recognition criteria have been met.

Perpetual license and legacy arrangements do not include the same rights as those provided to customers under the aspenONE licensing model and point product arrangements with Premier Plus SMS. We continue to have VSOE for the legacy SMS offering provided in support of these license arrangements and can therefore separate the undelivered elements. Accordingly, the license fees for perpetual licenses and legacy arrangements continue to be recognized upon delivery of the software products using the residual method, provided all other revenue recognition requirements have been met.

Results of Operations Classification—Subscription and Software Revenue

Prior to fiscal 2012, subscription and software revenue were each classified separately on our consolidated statements of operations, because each type of revenue had different revenue recognition characteristics, and the amount of revenue attributable to each was material in relation to our total revenue. Additionally, we were able to separate the residual amount of software revenue related to the software component of our point product arrangements which included SMS for the contract term, based on the VSOE for the SMS element.

As a result of the introduction of our Premier Plus SMS offering in the first quarter of fiscal 2012, the substantial majority of our product-related revenue is now recognized on a ratable basis, over the term of the arrangement. Since the distinction between subscription and point product ratable revenue does not represent a meaningful difference from either a line of business or revenue recognition perspective, we have combined our subscription and software revenue into a single line item on our consolidated statements of operations beginning in the first quarter of fiscal 2012.

The following table summarizes the changes to our revenue classifications and the timing of revenue recognition of subscription and software revenue for fiscal 2013 and 2012 compared to fiscal 2011. Ratable revenue refers to product revenue that is recognized evenly over the term of the related agreement, beginning when the first payment becomes due. The residual method refers to the recognition of the difference between the total arrangement fee and the undiscounted VSOE for the undelivered element, assuming all other revenue recognition requirements have been met.

			Revenue Recognition Methodology

	Revenue Classification in Income Statement		Revenue Recognition Methodology
	Revenue Classification in Income Statement		Fiscal 2013 and 2012
	Fiscal 2013 and 2012	Fiscal 2011	Fiscal 2013 and 2012	Fiscal 2011
Type of Revenue:
aspenONE subscription	Subscription and software	Subscription	Ratable	Ratable
Point products
—Software	Subscription and software	Software	Ratable	Residual method
—Bundled SMS	Subscription and software	Services and other	Ratable	Ratable
Other
—Legacy arrangements	Subscription and software	Software	Residual method	Residual method
—Perpetual arrangements	Subscription and software	Software	Residual method	Residual method

The following tables reconcile the amount of revenue recognized during fiscal 2013, 2012 and 2011, based on the revenue recognition methodology. As illustrated below, the introduction of our Premier Plus SMS offering in the first quarter of fiscal 2012 has resulted in a substantial majority of our subscription and software revenue being recognized on a ratable basis in fiscal 2013 and 2012.

	Year Ended, June 30						Year Ended, June 30

	2013		2012		2011		2013			2012			2011
	(Dollars in Thousands)						% of Total
Subscription and software revenue:
Ratable(1)	$	225,064	$	144,144	$	58,459		93.9	%		86.5	%		56.4	%
Residual method(2)		14,590		22,544		45,240		6.1			13.5			43.6

Subscription and software revenue	$	239,654	$	166,688	$	103,699		100.0	%		100.0	%		100.0	%

(1): During fiscal 2011, the fair value of the SMS element of point product arrangements totaled $2.1 million and was presented in the consolidated statements of operations as services and other revenue. Effective July 1, 2011, the fee attributable to the SMS in point product arrangements is no longer separable since we are unable to establish VSOE, and as a result, is included within ratable revenue.

(2): Residual method revenue detail

	Year Ended, June 30

	2013			2012			2011
	(Dollars in Thousands)
Residual method revenue:
Point products—Software			*			*	$	20,190
Legacy arrangements		13,008			20,586			22,761
Perpetual arrangements		1,582			1,958			2,289

Total residual method revenue	$	14,590		$	22,544		$	45,240

*: Effective July 1, 2011, the total combined arrangement fee (which includes the fee attributable to SMS) for point product arrangements with Premier Plus SMS is recognized on a ratable basis.

Services and Other

SMS Revenue

SMS revenue includes the maintenance revenue recognized from arrangements for which we continue to have VSOE for the undelivered SMS offering (legacy SMS offering). For arrangements sold with our legacy SMS offering, SMS renewals are at the option of the customer, and the fair value of SMS is deferred and subsequently amortized over the contractual term of the SMS arrangement.

For arrangements executed under the aspenONE licensing model or where point product licenses are sold with Premier Plus SMS for the contract term, the customer commits to SMS for the entire term of the arrangement. The revenue related to the SMS component of the aspenONE licensing model is reported in subscription and software revenue in the consolidated statements of operations.

During fiscal 2011, the revenue related to the SMS deliverable of our point product licenses, for which we had VSOE, was reported in services and other revenue in the consolidated statements of operations. Beginning in fiscal 2012, we introduced a Premier Plus SMS offering to provide more value to our customers. We have not established VSOE for the Premier Plus SMS deliverable. As a result, the revenue related to the SMS element of these transactions is reported in subscription and software revenue in the consolidated statements of operations.

Professional Services Revenue

Professional services are provided to customers on a time-and-materials (T&M) or fixed-price basis. We recognize professional services fees for our T&M contracts based upon hours worked and contractually agreed-upon hourly rates. Revenue from fixed-price engagements is recognized using the proportional performance method based on the ratio of costs incurred to the total estimated project costs. Project costs are typically expensed as incurred. The use of the proportional performance method is dependent upon our ability to reliably estimate the costs to complete a project. We use historical experience as a basis for future estimates to complete current projects. Additionally, we believe that costs are the best available measure of performance. Out-of-pocket expenses which are reimbursed by customers are recorded as revenue.

In certain circumstances, professional services revenue may be recognized over a longer time period than that which the services are performed. If the costs to complete a project are not estimable or the completion is uncertain, the revenue is recognized upon completion of the services. In circumstances in which professional services are sold as a single arrangement with, or in contemplation of, a new aspenONE license or point product arrangement with Premier Plus SMS, revenue is deferred and recognized on a ratable basis over the longer of (i) the period the services are performed, or (ii) the license term. When we provide professional services considered essential to the functionality of the software, we recognize the combined revenue from the sale of the software and related services using the completed contract or percentage-of-completion method.

We have occasionally been required to commit unanticipated additional resources to complete projects, which resulted in losses on those contracts. Provisions for estimated losses on contracts are made during the period in which such losses become probable and can be reasonably estimated.

Deferred Revenue

Deferred revenue includes amounts billed or collected in advance of revenue recognition, including arrangements under the aspenONE licensing model, point product arrangements with Premier Plus SMS, legacy SMS offering, professional services, and training. Under the aspenONE licensing model and for point product arrangements with Premier Plus SMS, VSOE does not exist for the undelivered elements, and as a result the arrangement fees are recognized ratably (i.e., on a subscription basis) over the term of the license, and deferred revenue is recorded as each invoice becomes due.

For arrangements under the upfront revenue model, a portion of the arrangement fee is generally recorded as deferred revenue due to the inclusion of an undelivered element, typically our legacy SMS offering or professional services. The amount of revenue allocated to undelivered elements is based on the VSOE for those elements using the residual method, and is earned and recognized as revenue as each element is delivered.

Other Licensing Matters

Our standard licensing agreements include a product warranty provision. We have not experienced significant claims related to software warranties beyond the scope of SMS support, which we are already obligated to provide, and consequently, we have not established reserves for warranty obligations.

Our agreements with our customers generally require us to indemnify the customer against claims that our software infringes third-party patent, copyright, trademark or other proprietary rights. Such indemnification obligations are generally limited in a variety of industry-standard respects, including our right to replace an infringing product. As of June 30, 2013, we had not experienced any material losses related to these indemnification obligations and no claims with respect thereto were outstanding. We do not expect significant claims related to these indemnification obligations, and consequently, have not established any related reserves.

(g) Installments Receivable

Installments receivable resulting from product sales under the upfront revenue model are discounted to present value at prevailing market rates at the date the contract is signed, taking into consideration the customer's credit rating. The finance element is recognized using the effective interest method over the relevant license term and is classified as interest income. Installments receivable are classified as current and non-current in our consolidated balance sheets based on the maturity date of the related installment. Non-current installments receivable consist of receivables with a due date greater than one year from the period-end date. Current installments receivable consist of invoices with a due date of less than one year but greater than 45 days from the period-end date. Once an installments receivable invoice becomes due within 45 days, it is reclassified as a trade accounts receivable in our consolidated balance sheets. As a result, we did not have any past due installments receivable as of June 30, 2013.

Our non-current installments receivable are within the scope of Accounting Standards Update (ASU) No. 2010-20, Receivables (Topic 310): Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses. As our portfolio of financing receivables arises from the sale of our software licenses, the methodology for determining our allowance for doubtful accounts is based on the collective population of receivables and is not stratified by class or portfolio segment. We consider factors such as existing economic conditions, country risk, and customers' credit rating and past payment history in determining our allowance for doubtful accounts. We reserve against our installments receivable when the related trade accounts receivable have been past due for over a year, or when there is a specific risk of uncollectability. Our specific reserve reflects the full value of the related installments receivable for which collection has been deemed uncertain. Our specific reserve represented 96% and 89% of our total installments receivable allowance for doubtful accounts at June 30, 2013 and June 30, 2012, respectively. In instances when an installment receivable that is reserved ages into a trade account receivable, the related reserve is transferred to our trade accounts receivable allowance.

We write-off receivables when they are considered uncollectable based on our judgment. In instances when we write-off specific customers' trade accounts receivable, we also write off any related current and non-current installments receivable balances.

As of June 30, 2013, our gross current and non-current installments receivable of $14.4 million and $1.1 million are presented net of unamortized discounts of $0.6 million and $0.1 million and net of allowance for doubtful accounts of less than $0.1 million, respectively.

As of June 30, 2012, our gross current and non-current installments receivable of $35.0 million and $15.9 million are presented net of unamortized discounts of $1.6 million and $1.8 million, and net of allowance for doubtful accounts of $0.2 million and less than $0.1 million, respectively.

Provisions for bad debts, receivables write offs and recoveries of receivables previously written off were not significant during fiscal 2013 and fiscal 2012, respectively. Transfers to allowance for doubtful accounts related to trade accounts receivable were not significant during fiscal 2013 and amounted to $0.8 million during fiscal 2012. Our allowance for doubtful accounts for current and non-current installments receivable was $0.8 million and $0.1 million as of June 30, 2011.

Under the aspenONE licensing model and for point product arrangements with Premier Plus SMS included for the contract term, the installment payments are not considered fixed or determinable and, as a result, are not included as installments receivable on our consolidated balance sheet.

(h) Allowance for Doubtful Accounts and Discounts

We make judgments as to our ability to collect outstanding receivables and provide allowances for the portion of receivables when a loss is reasonably expected to occur. The allowance for doubtful accounts is established to represent the best estimate of the net realizable value of the outstanding accounts receivable. The development of the allowance for doubtful accounts is based on a review of past due amounts, historical write-off and recovery experience, as well as aging trends affecting specific accounts and general operational factors affecting all accounts. In addition, factors are developed utilizing historical trends in bad debts, returns and allowances.

We consider current economic trends when evaluating the adequacy of the allowance for doubtful accounts. If circumstances relating to specific customers change or unanticipated changes occur in the general business environment, our estimates of the recoverability of receivables could be further adjusted.

The following table presents our allowance for doubtful accounts activity for accounts receivable in fiscal 2013 and 2012, respectively:

	Year Ended June 30,

	2013			2012
	(Dollars in Thousands)
Balance, beginning of year	$	1,982		$	1,884
Provision for bad debts		521			567
Write-offs		(888	)		(468	)

Balance, end of year	$	1,615		$	1,982

The following table summarizes our accounts receivable, net of the related allowance for doubtful accounts, as of June 30, 2013 and 2012. Collateralized receivables are presented in the consolidated balance sheets and in the table below as of June 30, 2012, net of discounts for future interest established at inception of the installment arrangement.

	Gross		Unamortized Discounts		Allowance		Net

	(Dollars in Thousands)
June 30, 2013:
Accounts Receivable	$	38,603	$	—	$	1,615	$	36,988

	$	38,603	$	—	$	1,615	$	36,988

June 30, 2012:
Accounts Receivable	$	33,432	$	—	$	1,982	$	31,450
Collateralized Receivables- current		6,500		203		—		6,297

	$	39,932	$	203	$	1,982	$	37,747

Collateralized receivables were collected in full or repurchased during the second quarter of fiscal 2013. Repurchased receivables, net of discounts for future interest, were reclassified into accounts receivable or installments receivable during the period then ended.

(i) Fair Value of Financial Instruments

We determine fair value of financial and non-financial assets and liabilities in accordance with provisions of ASC Topic 820, Fair Value Measurements and Disclosures (ASC 820). ASC 820 defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. ASC 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities, and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

•

Level 1 Inputs—Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

•

Level 2 Inputs—Inputs other than quoted prices included in Level 1 that are observable for an asset or a liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for an asset or a liability (such as interest rates, yield curves, volatilities, prepayment speeds, credit risks, etc.), or inputs that are derived principally from or corroborated by market data by correlation or other means.

•

Level 3 Inputs—Unobservable inputs for determining fair values of assets or liabilities that reflect an entity's own assumptions in pricing assets or liabilities.

Cash Equivalents. Cash equivalents are reported at fair value utilizing quoted market prices in identical markets, or "Level 1 Inputs." Our cash equivalents consist of short-term, highly liquid investments with remaining maturities of three months or less when purchased.

Marketable Securities. Marketable securities are reported at fair value calculated in accordance with the market approach, utilizing market consensus pricing models with quoted prices that are directly or indirectly observable, or "Level 2" inputs.

Financial instruments not measured or recorded at fair value in the accompanying consolidated balance sheets consist of accounts receivable, installments receivable, collateralized receivables, accounts payable and secured borrowings. The estimated fair value of accounts receivable, installments receivable, collateralized receivables and accounts payable approximates their carrying value. The estimated fair value of secured borrowings exceeded the carrying value by $0.2 million as of June 30, 2012. Secured borrowings were repaid in full or repurchased during fiscal 2013. The fair value of secured borrowings was calculated using the market approach, utilizing interest rates that were indirectly observable in markets for similar liabilities, or "Level 2 Inputs."

The following table summarizes financial assets and financial liabilities measured and recorded at fair value on a recurring basis in the accompanying consolidated balance sheets as of June 30, 2013 and 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

	Fair Value Measurements at Reporting Date Using,

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(Dollars in Thousands)
June 30, 2013:
Assets:
Cash equivalents	$	117,010	$	—
Marketable securities		—		92,368
June 30, 2012:
Assets:
Cash equivalents	$	144,009	$	—
Liabilities:
Secured borrowings		—		10,939

At June 30, 2013 and 2012, we did not have any assets or liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3).

Certain non-financial assets, including goodwill, finite-lived intangible assets and other non-financial long-lived assets, are measured at fair value using market and income approaches on a non-recurring basis when there is an indication of impairment.

(j) Computer Software Development Costs

Certain computer software development costs are capitalized in the accompanying consolidated balance sheets. Capitalization of computer software development costs begins upon the establishment of technological feasibility. We define the establishment of technological feasibility as the completion of a detailed program design. Amortization of capitalized computer software development costs is provided on a product-by-product basis using the greater of (a) the amount computed using the ratio that current gross revenue for a product bears to total of current and anticipated future gross revenue for that product or (b) the straight-line method, beginning upon commercial release of the product, and continuing over the remaining estimated economic life of the product, not to exceed three years.

Software for internal use is capitalized in accordance with ASC Topic 350-40, Intangibles Goodwill and Other—Internal Use Software. At each balance sheet date, we evaluate the unamortized capitalized software costs for potential impairment by comparing the balance to the net realizable value of the products. Total computer software costs capitalized were $1.2 million, $0.5 million and $2.0 million during the years ended June 30, 2013, 2012 and 2011, respectively. Total amortization expense charged to operations was approximately $1.1 million, $1.6 million and $1.5 million for the years ended June 30, 2013, 2012 and 2011, respectively. Computer software development accumulated amortization totaled $71.5 million, $70.5 million and $68.9 million as of June 30, 2013 and 2012, respectively.

(k) Foreign Currency Translation

The determination of the functional currency of subsidiaries is based on the subsidiaries' financial and operational environment and is the local currency of the subsidiary. Gains and losses from foreign currency translation related to entities whose functional currency is their local currency are credited or charged to accumulated other comprehensive income included in stockholders' equity in the consolidated balance sheets. In all instances, foreign currency transaction gains or losses are credited or charged to the consolidated statements of operations as incurred as a component of other (expense) income, net. Foreign currency transaction (losses) gains were ($1.2) million, $(3.7) million and $3.3 million in fiscal 2013, 2012 and 2011, respectively.

(l) Net Income (Loss) Per Share

Basic income (loss) per share is determined by dividing net income (loss) by the weighted average common shares outstanding during the period. Diluted income (loss) per share is determined by dividing net income (loss) by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards, warrants and other commitments to be settled in common stock are included in the calculation of diluted income (loss) per share based on the treasury stock method.

For the years ended June 30, 2013 and 2011, certain employee equity awards were anti-dilutive based on the treasury stock method. For year ended June 30, 2012, all potential common shares were anti-dilutive due to the net loss. The calculations of basic and diluted net income (loss) per share and basic and diluted weighted average shares outstanding are as follows:

	Year Ended June 30,

	2013		2012			2011
	(Dollars and Shares in Thousands, Except per Share Data)
Net income (loss)	$	45,262	$	(13,808	)	$	10,257

Weighted average shares outstanding		93,586		93,780			93,488
Dilutive impact from:
Share-based payment awards		1,824		—			2,313
Warrants		—		—			52

Dilutive weighted average shares outstanding		95,410		93,780			95,853
Income (loss) per share
Basic	$	0.48	$	(0.15	)	$	0.11
Dilutive	$	0.47	$	(0.15	)	$	0.11

The following potential common shares were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive at the balance sheet date:

	Year Ended June 30,

	2013		2012		2011
	(Shares in Thousands)
Employee equity awards		443		6,554		1,728

(m) Concentration of Credit Risk

Financial instruments that potentially subject us to concentrations of credit risk are principally cash and cash equivalents, marketable securities, accounts receivable and installments receivable. Our cash is held in financial institutions, and our cash equivalents are invested in money market mutual funds that we believe to be of high credit quality. Our investments in marketable securities consist primarily of investment grade fixed income corporate debt securities with maturities ranging from less than one month to 19 months. We reduce the risk by diversifying our investment portfolio and limiting the amount of investments in debt securities of any single issuer.

Concentration of credit risk with respect to receivables is limited to certain customers to which we make substantial sales. To reduce risk, we assess the financial strength of our customers. We do not require collateral or other security in support of our receivables. As of June 30, 2013, one customer receivable balance represented approximately 11% of our total receivables.

(n) Intangible Assets, Goodwill and Long-Lived Assets

Intangible Assets:

We include in our amortizable intangible assets those intangible assets acquired in our business and asset acquisitions. We amortize acquired intangible assets with finite lives over their estimated economic lives, generally using the straight-line method. Each period, we evaluate the estimated remaining useful lives of acquired intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization. Acquired intangibles are removed from the accounts when fully amortized and no longer in use.

Intangible assets consist of the following as of June 30, 2013 and 2012:

	Gross Carrying Amount		Accumulated Amortization			Effect of currency translation			Net Carrying Amount

	(Dollars in Thousands)
June 30, 2013:
Technology and patents	$	2,596	$	(977	)	$	172		$	1,791	2.0

Total	$	2,596	$	(977	)	$	172		$	1,791	2.0

June 30, 2012:
Technology and patents	$	1,330	$	(139	)	$	(84	)	$	1,107	2.7

Total	$	1,330	$	(139	)	$	(84	)	$	1,107	2.7

Amortization expense for technology and patents is included in operating expenses and amounted to $0.7 million and $0.1 million in fiscal 2013 and 2012, respectively. We did not have any acquired intangible assets as of June 30, 2011 and therefore there was no acquired intangible asset amortization expense in fiscal 2011. Amortization expense is expected to approximate $0.9 million, $0.7 million and $0.1 million for fiscal 2014, 2015 and 2016, respectively.

Goodwill:

The changes in the carrying amount of the goodwill by reporting unit for the fiscal years 2013 and 2012 were as follows:

	Reporting Unit

Asset Class	License			SMS, Training, and Other			Professional Services			Total
	(Dollars in Thousands)
Balance as of June 30, 2011
Goodwill	$	68,049		$	16,144		$	5,102		$	89,295
Accumulated impairment losses		(65,569	)		—			(5,102	)		(70,671	)

	$	2,480		$	16,144		$	—		$	18,624

Acquisitions	$	1,641		$	—		$	—		$	1,641
Effect of currency translation		(120	)		(746	)		—			(866	)

Balance as of June 30, 2012
Goodwill	$	69,570		$	15,398		$	5,102		$	90,070
Accumulated impairment losses		(65,569	)		—			(5,102	)		(70,671	)

	$	4,001		$	15,398		$	—		$	19,399

Effect of currency translation		56			(324	)		—			(267	)
Balance as of June 30, 2013
Goodwill	$	69,626		$	15,074		$	5,102		$	89,803
Accumulated impairment losses		(65,569	)		—			(5,102	)		(70,671	)

	$	4,057		$	15,074		$	—		$	19,132

We test goodwill for impairment annually (or more often if impairment indicators arise), at the reporting unit level. We first assess qualitative factors to determine whether the existence of events or circumstances indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If we determine based on this assessment that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we perform the two-step goodwill impairment test. The first step requires us to determine the fair value of each reporting unit and compare it to the carrying amount, including goodwill, of such reporting unit. If the fair value exceeds the carrying amount, no impairment loss is recognized. However, if the carrying amount of the reporting unit exceeds its fair value, the goodwill of the unit may be impaired. The amount of impairment, if any, is measured based upon the implied fair value of goodwill at the valuation date.

Fair value of a reporting unit is determined using a combined weighted average of a market-based approach (utilizing fair value multiples of comparable publicly traded companies) and an income-based approach (utilizing discounted projected cash flows). In applying the income-based approach, we would be required to make assumptions about the amount and timing of future expected cash flows, growth rates and appropriate discount rates. The amount and timing of future cash flows would be based on our most recent long-term financial projections. The discount rate we would utilize would be determined using estimates of market participant risk-adjusted weighted-average costs of capital and reflect the risks associated with achieving future cash flows.

We have elected December 31^st as the annual impairment assessment date and perform additional impairment tests if triggering events occur. We performed our annual impairment test for each reporting unit as of December 31, 2012 and, based upon the results of our qualitative assessment, determined that it was not likely that their respective fair values were less than their carrying amounts. As such, we did not perform the two-step goodwill impairment test and did not recognize impairment losses as a result of our analysis. If an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value, goodwill will be evaluated for impairment between annual tests. No triggering events indicating goodwill impairment occurred during fiscal 2013 and 2012.

Impairment of Long-Lived Assets:

We evaluate our long-lived assets, which include finite-lived intangible assets, property and leasehold improvements for impairment as events and circumstances indicate that the carrying amount of an asset or a group of assets may not be recoverable. We assess the recoverability of the asset or a group of assets based on the undiscounted future cash flows the asset is expected to generate, and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset are less than its carrying value. If an asset or a group of assets are deemed to be impaired, the amount of the impairment loss, if any, represents the excess of the asset's or a group of assets' carrying value compared to their estimated fair values.

(o) Comprehensive Income (Loss)

Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income (loss) and its components for fiscal 2013, 2012 and 2011 are disclosed in the accompanying consolidated statements of comprehensive income (loss).

As of June 30, 2013, foreign translation adjustments of $7.3 million and net unrealized losses on available for sale securities of ($0.1) million are reported as separate components of accumulated other comprehensive income.

As of June 30, 2012, 2011 and 2010, accumulated other comprehensive income is comprised entirely of foreign translation adjustments of $8.1 million, $9.1 million and $7.5 million, respectively.

(p) Accounting for Stock-Based Compensation

Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the vesting period.

(q) Accounting for Transfers of Financial Assets

We derecognize financial assets, specifically accounts receivable and installments receivable, when control has been surrendered in compliance with ASC Topic 860, Transfers and Servicing. Transfers of accounts receivable and installments receivable that meet the requirements of ASC 860 for sale accounting treatment are removed from the balance sheet and gains or losses on the sale are recognized. If the conditions for sale accounting treatment are not met, or are no longer met, accounts receivable and installments receivable transferred are classified as collateralized receivables in the consolidated balance sheets and cash received from these transactions is classified as secured borrowings. Transaction costs associated with secured borrowings, if any, are treated as borrowing costs and recognized in interest expense. Once payment is received from a customer, the collateralized receivables and related secured borrowing balances are reduced. We had no outstanding secured borrowings and collateralized receivables as of June 30, 2013 since the balance due to the financial institutions was repaid in full during the second quarter of fiscal 2013.

(r) Income Taxes

Deferred income taxes are recognized based on temporary differences between the financial statement and tax bases of assets and liabilities. Deferred tax assets and liabilities are measured using the statutory tax rates and laws expected to apply to taxable income in the years in which the temporary differences are expected to reverse. Valuation allowances are provided against net deferred tax assets if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the timing of the temporary differences becoming deductible. Management considers, among other available information, scheduled reversals of deferred tax liabilities, projected future taxable income, limitations of availability of net operating loss carryforwards, and other matters in making this assessment.

We do not provide deferred taxes on unremitted earnings of foreign subsidiaries since we intend to indefinitely reinvest either currently or sometime in the foreseeable future. Unrecognized provisions for taxes on undistributed earnings of foreign subsidiaries, which are considered indefinitely reinvested, are not material to our consolidated financial position or results of operations. We are continuously subject to examination by the IRS, as well as various state and foreign jurisdictions. The IRS and other taxing authorities may challenge certain deductions and credits reported by us on our income tax returns. In accordance with provisions of ASC Topic 740, Income Taxes (ASC 740), an entity should recognize a tax benefit when it is more-likely-than-not, based on the technical merits, that the position would be sustained upon examination by a taxing authority. The amount to be recognized, if the more-likely-than-not threshold was passed, should be measured as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Furthermore, any change in the recognition, de-recognition or measurement of a tax position should be recorded in the period in which the change occurs. We account for interest and penalties related to uncertain tax positions as part of the provision for (benefit from) income taxes.

(s) Loss Contingencies

We accrue estimated liabilities for loss contingencies arising from claims, assessments, litigation and other sources when it is probable that a liability has been incurred and the amount of the claim assessment or damages can be reasonably estimated. We believe that we have sufficient accruals to cover any obligations resulting from claims, assessments or litigation that have met these criteria. Refer to Note 9 for discussion of these matters and related liability accruals.

(t) Advertising Costs

Advertising costs are expensed as incurred and are classified as sales and marketing expenses. We incurred advertising expenses of $2.9 million, $2.2 million and $3.0 million during fiscal 2013, 2012 and 2011, respectively. We had no prepaid advertising costs included in the accompanying consolidated balance sheets.

(u) Research and Development Expense

We charge research and development expenditures to expense as the costs are incurred. Research and development expenses consist primarily of personnel expenses related to the creation of new products and to enhancements and engineering changes to existing products.

(v) Recently Adopted Accounting Pronouncements

In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU No. 2013-02 requires entities to present by component significant amounts reclassified out of accumulated other comprehensive income either on the face of the statement where net income is presented or in the notes to the financial statements. ASU No. 2013-02 is effective for annual and interim periods beginning after December 31, 2012 and should be applied prospectively. We adopted ASU No. 2013-02 during fiscal 2013. The adoption of ASU No. 2013-02 did not have a material effect on our financial position, results of operations or cash flows.

In June 2011, the FASB issued ASU No. 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income. ASU No. 2011-05 eliminates the option of presenting components of other comprehensive income as a part of the statement of changes in stockholders' equity. ASU No. 2011-05 requires entities to present all non-owner changes in stockholders' equity either on the face of the financial statements or in the notes. The non-owner changes in stockholders' equity are required to be presented on the face of the financial statements either as a single statement of comprehensive income or as two separate consecutive statements. ASU No. 2011-05 is effective for public entities for annual periods, and interim periods within those years, beginning after December 15, 2011 and should be applied retrospectively. We adopted ASU No. 2011-05 during fiscal 2013. The adoption of ASU No. 2011-05 did not have a material effect on our financial position, results of operations or cash flows.

Restructuring Charges

12 Months Ended

Jun. 30, 2013

Restructuring Charges

Restructuring Charges

(3) Restructuring Charges

We have undertaken no restructuring actions during fiscal 2013, 2012, or 2011.

During fiscal 2013, we recorded net restructuring credits of less than $0.1 million.

During fiscal 2012, we recorded net restructuring credits of $0.3 million comprised of a credit of $0.5 million related to changes in the estimates of future operating costs and sublease assumptions, partially offset by $0.2 million of accretion charges.

During fiscal 2011, we recorded net restructuring credits of $0.2 million comprised of a credit of $0.6 million related to changes in the estimates of future operating costs and sublease assumptions, partially offset by $0.4 million of accretion charges.

The following activity was recorded for the indicated years:

	Closure/ Consolidation of Facilities and Contract Termination Costs

	(Dollars in Thousands)
Accrued expenses, June 30, 2010	$	8,514
Fiscal 2011 payments		(4,066	)
Restructuring charge—accretion		354
Change in estimate—revised assumption		(601	)

Accrued expenses, June 30, 2011	$	4,201

Fiscal 2012 payments		(2,998	)
Restructuring charge—accretion		202
Change in estimate—revised assumption		(503	)

Accrued expenses, June 30, 2012	$	902

Fiscal 2013 payments		(803	)
Restructuring charge—accretion		17
Change in estimate—revised assumption		(22	)

Accrued expenses, June 30, 2013	$	94

The accrued facility exit costs of $0.1 million are included in accrued expenses and other current liabilities on the accompanying consolidated balance sheets and are stated at estimated fair value, net of estimated sub-lease income of $0.5 million. We expect to pay the remaining obligations in connection with vacated facilities over the remaining lease terms, which will expire on various dates through 2017. Anticipated net cash payments to settle these liabilities amount to $0.1 million at June 30, 2013 and are expected to be made through fiscal 2017.

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

Supplemental Balance Sheet Information

Secured Borrowings and Collateralized Receivables	12 Months Ended
Secured Borrowings and Collateralized Receivables	Jun. 30, 2013
Secured Borrowings and Collateralized Receivables
Secured Borrowings and Collateralized Receivables	(4) Secured Borrowings and Collateralized Receivables We had no outstanding secured borrowings as of June 30, 2013 since the balance due to the financial institutions was repaid in full during fiscal 2013. Prior to the repayment of secured borrowings, we maintained arrangements with financial institutions for borrowings secured by our installments receivable contracts for which limited recourse existed against us. Under these programs, we and the financial institution negotiated the amount borrowed and interest rate secured by each receivable for each transaction. The customers' payments of the underlying receivables funded the repayment of the related amounts borrowed. We were never required to repurchase the receivables for events of default in accordance with program terms. The collateralized receivables earned interest income, and the secured borrowings accrued borrowing costs at approximately the same interest rate. These arrangements were accounted for as secured borrowings. At June 30, 2012, receivables totaling $6.3 million were pledged as collateral for the secured borrowings which amounted to $10.8 million. The collateralized receivables had an implicit interest rate of 8% as of June 30, 2012 and were presented at net present value in the accompanying consolidated balance sheets. We recorded $0.2 million, $1.2 million and $3.2 million of interest income associated with the collateralized receivables during fiscal 2013, 2012 and 2011, respectively, and recognized $0.3 million, $3.0 million and $5.3 million of interest expense associated with the secured borrowings during the periods then ended. Proceeds from and payments on the secured borrowings are presented as components of cash flows from financing activities in the accompanying consolidated statements of cash flows. Reductions of secured borrowings were recognized as financing cash flows upon payment to the financial institutions, and operating cash flows from collateralized receivables were recognized upon customer payments of amounts due.

Supplemental Balance Sheet Information

12 Months Ended

Jun. 30, 2013

Supplemental Balance Sheet Information

(5) Supplemental Balance Sheet Information

Property, equipment and leasehold improvements in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,

	2013			2012
	(Dollars in Thousands)
Property, equipment and leasehold improvements—at cost:
Computer equipment	$	11,106		$	10,528
Purchased software		21,642			19,905
Furniture & fixtures		4,475			3,615
Leasehold improvements		3,379			3,044
Accumulated depreciation		(32,773	)		(30,055	)

Property, equipment and leasehold improvements—net	$	7,829		$	7,037

We account for asset retirement obligations in accordance with ASC Topic 410, Asset Retirement and Environmental Obligations. Our asset retirement obligations relate to leasehold improvements for leased properties. As of June 30, 2013 and 2012, the balance of our asset retirement obligations was $0.6 million and $0.7 million, respectively.

Accrued expenses and other current liabilities in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,

	2013		2012
	(Dollars in Thousands)
Royalties and outside commissions	$	4,312	$	4,875
Payroll and payroll-related		18,702		21,558
Other		11,407		11,556

Total accrued expenses and other current liabilities	$	34,421	$	37,989

Other non-current liabilities in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,

	2013		2012
	(Dollars in Thousands)
Deferred rent	$	862	$	1,532
Other*		11,515		13,897

Total other non-current liabilities	$	12,377	$	15,429

*: Other is comprised primarily of our net reserve for uncertain tax liabilities. See Note 8, "Income Taxes" for additional information.

Common Stock	12 Months Ended
Common Stock	Jun. 30, 2013
Common Stock
Common Stock	(6) Common Stock On April 23, 2013, our Board of Directors approved a share repurchase program for up to $150 million worth of our common stock. This share repurchase program replaced the prior share repurchase program approved by the Board of Directors on October 24, 2012 for up to $100 million, which had approximately $58.4 million of remaining capacity on April 23, 2013. The program approved on October 24, 2012 had replaced a repurchase program with a value of up to $100 million which had been approved by the Board of Directors on November 1, 2011. The program approved on November 1, 2011 had replaced a repurchase program with a value of up to $40 million which had been approved by the Board of Directors on October 29, 2010. The timing and amount of any shares repurchased are based on market conditions and other factors. All share repurchases of our common stock have been recorded as treasury stock under the cost method. We repurchased 3,064,151 shares and 2,496,595 shares of our common stock for $84.7 million and $46.1 million during fiscal 2013 and 2012, respectively. As of June 30, 2013, the remaining dollar value under the stock repurchase program approved on April 23, 2013 was $134.4 million.

Stock-Based Compensation

12 Months Ended

Jun. 30, 2013

Stock-Based Compensation

Stock-Based Compensation

(7) Stock-Based Compensation

Stock Compensation Plans

In April 2010, the shareholders approved the establishment of the 2010 Equity Incentive Plan (the 2010 Plan), which provides for the issuance of a maximum of 7,000,000 shares of common stock. The 2010 Plan provides for the grant of incentive and nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, other stock-related awards, and performance awards that may be settled in cash, stock, or other property. As of June 30, 2013, there were 4,566,530 shares of common stock available for issuance subject to awards under the 2010 Plan.

In May 2005, the shareholders approved the establishment of the 2005 Stock Incentive Plan (the 2005 Plan), which provides for the issuance of a maximum of 4,000,000 shares of common stock. The 2005 Plan provides for the grant of incentive and nonqualified stock options and other stock-based awards, including the grant of shares based upon certain conditions, the grant of securities convertible into common stock and the grant of stock appreciation rights. Restricted stock and other stock-based awards granted under the 2005 Plan may not exceed, in the aggregate, 4,000,000 shares of common stock. As of June 30, 2013, there were 214,712 shares of common stock available for issuance subject to awards under the 2005 Plan.

General Award Terms

We issue stock options and restricted stock units (RSUs) to our employees and outside directors, pursuant to stockholder- approved equity compensation plans. Option awards are granted with an exercise price equal to the market closing price of our stock on the trading day prior to the date of grant; those options generally vest over four years and expire within 7 or 10 years of grant. RSUs generally vest over four years. Historically, our practice has been to settle stock option exercises and RSU vesting through newly-issued shares.

Stock Compensation Accounting

Our stock-based compensation is principally accounted for as awards of equity instruments. Our policy is to issue new shares upon the exercise of stock awards. We adopted the simplified method related to accounting for the tax effects of share-based payment awards to employees under ASC Topic 718, Compensation—Stock Compensation (ASC 718). We use the "with-and-without" approach for determining if excess tax benefits are realized under ASC 718.

We utilize the Black-Scholes option valuation model for estimating the fair value of options granted. The Black-Scholes option valuation model incorporates assumptions regarding expected stock price volatility, the expected life of the option, the risk-free interest rate, dividend yield and the market value of our common stock. The expected stock price volatility is determined based on our stock's historic prices over a period commensurate with the expected life of the award. The expected life of an option represents the period for which options are expected to be outstanding as determined by historic option exercises and cancellations. The risk-free interest rate is based on the U.S. Treasury yield curve for notes with terms approximating the expected life of the options granted. The expected dividend yield is zero, based on our history and expectation of not paying dividends on common shares. We recognize compensation costs on a straight-line basis, net of estimated forfeitures, over the requisite service period for time-vested awards.

The weighted average estimated fair value of awards granted during fiscal 2013, 2012 and 2011 was $9.76, $6.49 and $4.99 respectively.

We utilized the Black-Scholes option valuation model with the following weighted average assumptions:

	Year Ended June 30,

	2013			2012			2011
Risk-free interest rate		0.6	%		1.1	%		1.3	%
Expected dividend yield		None			None			None
Expected life (in years)		4.8			4.6			4.6
Expected volatility factor		49	%		50	%		53	%

The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2013, 2012 and 2011 was as follows:

	Year Ended June 30,

	2013		2012		2011
	(Dollars in Thousands)
Recorded as expenses:
Cost of service and other	$	1,281	$	1,168	$	945
Selling and marketing		3,890		4,601		3,603
Research and development		2,969		1,334		1,152
General and administrative		6,497		5,303		3,999

Total stock-based compensation	$	14,637	$	12,406	$	9,699

A summary of stock option and RSU activity under all equity plans in fiscal 2013, 2012 and 2011 is as follows:

	Stock Options									Restricted Stock Units

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value (in 000's)		Shares			Weighted Average Grant Date Fair Value
Outstanding at June 30, 2012		4,180,265		$	9.03						1,327,071		$	12.73
Granted		498,264			23.40						592,842			23.46
Settled (RSUs)		—			—						(815,440	)		13.99
Exercised		(2,743,772	)		7.71						—			—
Cancelled / Forfeited		(82,639	)		12.99						(73,634	)		15.59

Outstanding at June 30, 2013		1,852,118		$	14.68		6.80	$	26,140		1,030,839		$	17.69

Vested and exercisable at June 30, 2013		972,407		$	12.05		5.64	$	16,278		—			—
Vested and expected to vest at June 30, 2013		1,563,655		$	14.09		6.53	$	22,984		751,521		$	17.39

During fiscal 2013, 2012 and 2011, the weighted average grant-date fair value of RSUs granted was $23.46, $15.52 and $11.02, respectively. During fiscal 2013, 2012 and 2011 the total fair value of vested shares from RSU grants amounted to $22.5 million, $14.0 million and $11.7 million, respectively.

As of June 30, 2013, the total future unrecognized compensation cost related to stock options and RSUs was $4.9 million and $13.4 million, respectively, and is expected to be recorded over a weighted average period of 2.3 years and 2.4 years, respectively.

The total intrinsic value of options exercised during fiscal 2013, 2012 and 2011 was $55.7 million, $14.6 million and $12.2 million, respectively. We received $21.1 million, $8.9 million and $9.7 million in cash proceeds from option exercises during fiscal 2013, 2012 and 2011, respectively. We paid $7.7 million, $4.6 million and $3.9 million for withholding taxes on vested RSUs during fiscal 2013, 2012 and 2011, respectively.

At June 30, 2013, common stock reserved for future issuance or settlement under equity compensation plans was 7.7 million shares.

The compensation committee and Board of Directors completed its annual program grant for fiscal 2014 and authorized and approved the grant of 392,440 RSUs and 333,214 stock options with a grant date of August 1, 2013.

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 2
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Income Taxes

12 Months Ended

Jun. 30, 2013

Income Taxes

Income Taxes

(8) Income Taxes

Income (loss) before provision for (benefit from) income taxes consists of the following:

	Year Ended June 30,

	2013		2012			2011
	(Dollars in Thousands)
Domestic	$	54,587	$	(14,086	)	$	(50,395	)
Foreign		2,851		(1,066	)		6,675

Income (loss) before provision for (benefit from) income taxes	$	57,438	$	(15,152	)	$	(43,720	)

The provision for (benefit from) income taxes shown in the accompanying consolidated statements of operations is composed of the following:

	Year Ended June 30,

	2013			2012			2011
	(Dollars in Thousands)
Federal—
Current	$	—		$	—		$	—
Deferred		7,867			(3,409	)		(60,004	)
State—
Current		136			191			132
Deferred		693			33			(1,702	)
Foreign—
Current		7,068			3,292			5,446
Deferred		(3,588	)		(1,451	)		2,151

	$	12,176		$	(1,344	)	$	(53,977	)

The provision for (benefit from) income taxes differs from that based on the federal statutory rate due to the following:

	Year Ended June 30,

	2013			2012			2011
	(Dollars in Thousands)
Federal tax provision (benefit) at statutory rate	$	20,103		$	(5,303	)	$	(15,302	)
State income taxes		88			124			86
Subpart F and dividend income		4,456			4,189			1,235
Foreign taxes and rate differences		2,298			1,001			2,218
Stock-based compensation		900			2,968			3,338
Tax credits		(4,816	)		(3,913	)		(4,524	)
Tax contingencies		(168	)		(2,385	)		7,158
Return to provision adjustments		(149	)		442			1,182
Valuation allowance		(1,813	)		1,431			(48,830	)
Benefit from foreign restructuring		(9,266	)		—			—
Other		543			102			(538	)

Provision for (benefit from) income taxes	$	12,176		$	(1,344	)	$	(53,977	)

Deferred tax assets (liabilities) consist of the following at June 30, 2013 and 2012:

	Year Ended June 30,

	2013			2012
	(Dollars in Thousands)
Deferred tax assets:
Federal and state credits	$	4,918		$	4,000
Foreign tax credits		33,310			38,870
Federal and state loss carryforwards		6,221			18,458
Capital loss carryforwards		8,076			—
Foreign loss carryforwards		1,653			2,658
Deferred revenue		4,198			3,682
Restructuring accruals		34			326
Other reserves and accruals		4,834			5,119
Intangible assets		719			1,037
Property, leasehold improvements, and other basis differences		2,829			3,523
Other temporary differences		3,504			5,596

		70,296			83,269
Deferred tax liabilities:
Deferred revenue		(151	)		(714	)
Intangible assets		(1,444	)		(1,558	)
Property, leasehold improvements, and other basis differences		(16	)		(9,583	)
Other temporary differences		(677	)		(683	)

		(2,288	)		(12,538	)
Valuation allowance		(9,943	)		(5,626	)

Net deferred tax assets	$	58,065		$	65,105

In fiscal 2013, we restructured our Canadian affiliate, AspenTech Canada Ltd ("ATC"). The restructuring was considered a deemed liquidation for tax purposes resulting in (i) the elimination of a deferred tax liability of $9.3 million associated with a basis difference and (ii) recognition of a capital loss for tax purposes of $22.2 million.

Our valuation allowance for deferred tax assets was $9.9 million and $5.6 million as of June 30, 2013 and 2012 respectively. The increase in the valuation allowance of $8.1 million over the prior year was due to the recognition of the capital loss on the deemed liquidation of ATC and the assessment that it is "more likely than not" that we will not recognize a benefit from the capital loss. We also decreased the valuation allowance by $1.9 million during the year related net operating losses and other net deferred tax assets related to our entities in the United Kingdom. A valuation allowance has also been retained on certain foreign subsidiary net operating loss carryforwards because it is more likely than not that a benefit will not be realized.

As of June 30, 2013, we have available U.S. federal net operating loss carryforwards of $119.3 million. Of that amount, $104.7 million relate to stock-based compensation tax deductions in excess of book compensation expense (APIC NOLs) that will be credited to additional paid in capital when such deductions reduce taxes payable as determined based on a "with-and-without" approach. APIC NOLs will reduce federal taxes payable if realized in future periods, but NOLs relating to such benefits are not included in the table above. The deferred tax asset related to the net carryforward value of $14.6 million is included in the table above.

In fiscal 2013, we recorded a reduction in the foreign income taxes payable of $0.5 million, with an increase to additional paid in capital, for the benefits of excess stock-based compensation deductions recognized during the period in the United Kingdom.

We have foreign net operating loss carryforwards of $6.6 million which will expire beginning in 2020 and others with no expiration date. The $6.6 million of foreign net operating loss carryforwards includes $0.3 million related to stock-based compensation tax deductions in excess of book compensation expense. We also have federal and state research and development tax credits, and alternative minimum tax (AMT) credit carryforwards. The research and development tax credits expire at various dates from 2019 through 2033, while the AMT credit carryforwards have an unlimited carryforward period.

We have determined that we underwent an ownership change (as defined under section 382 of the Internal Revenue Code of 1986, as amended) during fiscal 2011. As such, the utilization of certain NOLs and tax credits are subject to an annual limitation. The annual limitation is not expected to impact the realizability of the deferred tax assets.

For fiscal 2013, our income tax provision included amounts determined under the provisions of FIN 48, Uncertainty in Income Taxes- an Interpretation of FASB Statement No 109, (currently included as provisions of ASC 740), intended to satisfy additional income tax assessments, including interest and penalties, that could result from any tax return positions for which the likelihood of sustaining the position on audit does not meet a threshold of "more likely than not." Tax liabilities were recorded as a component of our income taxes payable and other non-current liabilities. The ultimate amount of taxes due will not be known until examinations are completed and settled or the audit periods are closed by statutes.

A reconciliation of the reserve for uncertain tax positions is as follows:

	Year Ended June 30,

	2013			2012			2011
	(Dollars in Thousands)
Uncertain tax positions, beginning of year	$	21,906		$	24,835		$	17,730
Gross increases—tax positions in prior period		1,150			2,072			4,599
Gross decreases—tax positions in prior period		—			(1,468	)		(1,025	)
Gross increases—tax positions in current period		—			—			3,333
Gross decreases—lapse of statutes		(1,172	)		(2,954	)		(517	)
Currency translation adjustment		147			(579	)		715

Uncertain tax positions, end of year	$	22,031		$	21,906		$	24,835

At June 30, 2013, the total amount of unrecognized tax benefits is $22.0 million, and of that amount, $18.6 million, if recognized, would reduce the effective tax rate. Our policy is to recognize interest and penalties related to income tax matters as provision for (benefit from) income taxes. At June 30, 2013, we had approximately $1.9 million of accrued interest and $1.1 million of penalties related to uncertain tax positions. We recorded a benefit for interest and penalties of approximately $0.1 million during fiscal 2013. We do not anticipate the total amount of unrecognized tax benefits to significantly change within the next twelve months.

Fiscal years 2007-2012 are subject to audit in the United States and Canada.

Subsidiaries of Aspen Technology in a number of countries outside of the U.S. and Canada are also subject to tax audits. The Company estimates that the effects of such tax audits are not material to these consolidated financial statements.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Commitments and Contingencies

Commitments and Contingencies

12 Months Ended

Jun. 30, 2013

Commitments and Contingencies

(9) Commitments and Contingencies

Operating Leases

We lease certain facilities and various office equipment under non-cancellable operating leases with terms in excess of one year. Rental expense, including short term leases, maintenance charges and taxes on leased facilities, was approximately $6.7 million, $6.3 million and $6.7 million for fiscal years 2013, 2012 and 2011, respectively.

Future minimum lease payments under these leases and scheduled sublease payments as of June 30, 2013 are as follows:

Year Ended June 30,	Gross Payments		Scheduled Sublease Payments		Net Payments

	(Dollars in Thousands)
2014	$	6,857	$	163	$	6,694
2015		5,038		163		4,875
2016		2,686		163		2,523
2017		461		14		447

Total	$	15,042	$	503	$	14,539

Due to various restructuring activities (refer to Note 3) in past years we have vacated certain of our leased space and are subleasing a portion of this space. The scheduled sublease payments are included in the table above. We have issued a standby letter of credit for $0.5 million in connection with a certain facility lease that expires in fiscal 2017.

Legal Matters

In the ordinary course of business, we from time to time pursue lawsuits and claims to enforce our intellectual property rights and to address other intellectual property, commercial and miscellaneous matters. In addition, we are also from time to time involved in other lawsuits, claims, investigations, proceedings and threats of litigation. These include an April 2004 claim by a customer for approximately $5.0 million that certain of our software products and implementation services failed to meet the customer's expectations.

The results of litigation and claims cannot be predicted with certainty, and unfavorable resolutions are possible and could materially affect our results of operations, cash flows or financial position. In addition, regardless of the outcome, litigation could have an adverse impact on us because of litigation fees and costs, diversion of management resources and other factors.

While the outcome of the proceedings and claims referenced above cannot be predicted with certainty, there are no such matters, as of June 30, 2013, that, in the opinion of management, might have a material adverse effect on our financial position, results of operations or cash flows. Liabilities, if applicable, related to the aforementioned matters discussed in this Note have been included in our accrued liabilities at June 30, 2013, and are not material to our financial position for the period then ended.

As of June 30, 2013 we do not believe that there is a reasonable possibility of a loss exceeding the amounts already accrued for the proceedings or matters discussed above.

The entire disclosure for commitments and contingencies.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Segment and Geographic Information

Retirement and Profit Sharing Plans	12 Months Ended
Retirement and Profit Sharing Plans	Jun. 30, 2013
Retirement and Profit Sharing Plans
Retirement and Profit Sharing Plans	(10) Retirement and Profit Sharing Plans We maintain a defined contribution retirement plan under Section 401(k) of the IRC covering all eligible employees, as defined. Under the plan, a participant may elect to defer receipt of a stated percentage of his or her compensation, subject to limitation under the IRC, which would otherwise be payable to the participant for any plan year. We may make discretionary contributions to this plan, including making matching contributions of 50%, up to a maximum of 6% of an employee's pretax contribution. We made matching contributions of approximately $1.9 million in fiscal 2013 and approximately $1.8 million in each of fiscal 2012 and 2011. Additionally, we participate in certain government mandated and defined contribution plans throughout the world for which we comply with all funding requirements.

Other Investments	12 Months Ended
Other Investments	Jun. 30, 2013
Other Investments
Other Investments	(11) Other Investments In November 2000, we invested $0.6 million in a global chemical business-to-business e-commerce company supporting major chemical companies in Asia. We recorded a non-operating loss for the full value of this investment in fiscal 2011 due to the determination of an other-than-temporary impairment of its fair value.

Segment and Geographic Information

12 Months Ended

Jun. 30, 2013

Segment and Geographic Information

(12) Segment and Geographic Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. Our chief operating decision maker is our President and Chief Executive Officer.

We have three operating segments: license; SMS, training, and other; and professional services. The chief operating decision maker assesses financial performance and allocates resources based upon the three lines of business.

The license line of business is engaged in the development and licensing of software. The SMS, training, and other line of business provides customers with a wide range of support services that include on-site support, telephone support, software updates and various forms of training on how to use our products. The professional services line of business offers implementation, advanced process control, real-time optimization and other professional services.

The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies (refer to Note 2). We do not track assets or capital expenditures by operating segments. Consequently, it is not practical to show assets, capital expenditures, depreciation or amortization by operating segments.

The following table presents a summary of operating segments:

	License		SMS, Training, and Other		Professional Services			Total

	(Dollars in Thousands)
Year Ended June 30, 2013—
Segment revenue	$	239,654	$	44,877	$	26,856		$	311,387
Segment expenses		68,448		6,753		23,540			98,741

Segment operating profit(1)	$	171,206	$	38,124	$	3,316		$	212,646

Year Ended June 30, 2012—
Segment revenue	$	166,688	$	54,025	$	22,421		$	243,134
Segment expenses		71,050		9,631		24,505			105,186

Segment operating profit (loss)(1)	$	95,638	$	44,394	$	(2,084	)	$	137,948

Year Ended June 30, 2011—
Segment revenue	$	103,699	$	65,121	$	29,334		$	198,154
Segment expenses		66,821		13,495		25,404			105,720

Segment operating profit(1)	$	36,878	$	51,626	$	3,930		$	92,434

(1): The segment operating profits (losses) reported reflect the direct expenses of the operating segment and contain certain allocations of selling and marketing, general and administrative, research and development, and do not contain restructuring and other corporate expenses incurred in support of the segments.

Reconciliation to Income (Loss) Before Provision for (Benefit from) Income Taxes

The following table presents a reconciliation of total segment operating profit to income (loss) before provision for (benefit from) income taxes:

	Year Ended June 30,

	2013			2012			2011
	(Dollars in Thousands)
Total segment operating profit for reportable segments	$	212,646		$	137,948		$	92,434
Cost of subscription and software		(12,788	)		(10,617	)		(5,213	)
Marketing		(13,119	)		(13,231	)		(12,690	)
Research and development		(51,735	)		(47,391	)		(41,932	)
General and administrative		(39,340	)		(44,780	)		(51,363	)
Information technology and overhead		(25,432	)		(24,831	)		(26,360	)
Stock-based compensation		(14,637	)		(12,406	)		(9,699	)
Restructuring charges		5			301			247
Other (expense) income, net		(1,117	)		(3,519	)		2,919
Interest income, net		2,955			3,374			7,937

Income (loss) before provision for (benefit from) income taxes	$	57,438		$	(15,152	)	$	(43,720	)

Geographic Information:

Revenue to external customers is attributed to individual countries based on the location the product or services are sold. Domestic and international sales as a percentage of total revenue are as follows:

	Year Ended June 30,

	2013			2012			2011
United States		38.5	%		29.5	%		35.8	%
Europe		29.3			33.7			26.6
Other(1)		32.2			36.8			37.6

		100.0	%		100.0	%		100.0	%

(1): Other consists primarily of Asia Pacific, Canada, Latin America and the Middle East.

During fiscal 2013, 2012 and 2011, there were no customers that individually represented greater than 10% of our total revenue.

We have long-lived assets of approximately $17.4 million that are located domestically and $18.4 million that reside in other geographic locations as of June 30, 2013.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

12 Months Ended

Jun. 30, 2013

Quarterly Financial Data (Unaudited)

(13) Quarterly Financial Data (Unaudited)

The following tables present quarterly consolidated statement of operations data for fiscal 2013 and 2012. The below data is unaudited but, in our opinion, reflects all adjustments necessary for a fair presentation of this data in accordance with GAAP:

	Three Months Ended

	June 30, 2013		March 31, 2013		December 31, 2012		September 30, 2012
	(Dollars and Shares in Thousands, Except per Share Data)
Total revenue	$	83,264	$	79,357	$	77,309	$	71,457
Gross profit		70,276		66,708		64,936		59,119
Income from operations		15,383		16,334		14,929		8,954
Net income		20,399		10,513		9,937		4,413
Net income per common share:
Basic	$	0.22	$	0.11	$	0.11	$	0.05
Diluted	$	0.21	$	0.11	$	0.10	$	0.05
Weighted average shares outstanding:
Basic		93,680		93,730		93,512		93,428
Diluted		95,257		95,400		95,463		95,670

	Three Months Ended

	June 30, 2012			March 31, 2012			December 31, 2011		September 30, 2011
	(Dollars and Shares in Thousands, Except per Share Data)
Total revenue	$	64,017		$	61,337		$	66,555	$	51,225
Gross profit		50,916			48,907			53,630		37,404
(Loss) income from operations		(3,609	)		(2,814	)		7,041		(15,625	)
Net (loss) income		(5,388	)		(520	)		3,836		(11,736	)
Net (loss) income per common share:
Basic	$	(0.06	)	$	(0.01	)	$	0.04	$	(0.12	)
Diluted	$	(0.06	)	$	(0.01	)	$	0.04	$	(0.12	)
Weighted average shares outstanding:
Basic		93,563			93,583			93,902		94,065
Diluted		93,563			93,583			96,267		94,065

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

Principles of Consolidation

Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2013

Significant Accounting Policies

(a) Principles of Consolidation

Management Estimates

(b) Management Estimates

Cash and Cash Equivalents

(c) Cash and Cash Equivalents

Cash and cash equivalents consist of short-term, highly liquid investments with remaining maturities of three months or less when purchased.

Marketable Securities

(d) Marketable Securities

The following table summarizes the fair value, the amortized cost and unrealized holding gains (losses) on our marketable securities as of June 30, 2013:

	Fair Value		Cost		Unrealized Gains		Unrealized Losses

	(Dollars in Thousands)
U.S. corporate bonds	$	57,015	$	57,046	$	8	$	(39	)

Total short-term marketable securities	$	57,015	$	57,046	$	8	$	(39	)

U.S. corporate bonds	$	35,353	$	35,402	$	—	$	(49	)

Total long-term marketable securities	$	35,353	$	35,402	$	—	$	(49	)

Property and Equipment

(e) Property and Equipment

Asset Classification		Estimated Useful Life

Computer equipment		3 years
Purchased software		3 - 5 years
Furniture and fixtures		3 - 10 years
Leasehold improvements		Life of lease or asset, whichever is shorter

Depreciation expense was $3.4 million, $3.5 million and $3.8 million for fiscal 2013, 2012 and 2011, respectively.

Revenue Recognition

(f) Revenue Recognition

Overview of Licensing Model Changes

Transition to the aspenONE Licensing Model

In fiscal 2010, we introduced the following changes to our licensing model:

(i)

We began offering our aspenONE software on a subscription basis, allowing our customers access to all products within a licensed suite (aspenONE Engineering or aspenONE Manufacturing and Supply Chain). SMS is included for the entire term of the arrangement and customers are entitled to any software products or updates introduced into the licensed suite. We refer to this license arrangement as our aspenONE licensing model.

(ii)

We began to include SMS for the entire term on our point product term arrangements.

Impact of Licensing Model Changes

The principal accounting implications of the changes to our licensing model in fiscal 2010 are as follows:

•

Prior to fiscal 2010, the majority of our license revenue was recognized on an upfront basis. Since the upfront model resulted in the net present value of multiple years of future installments being recognized at the time of shipment, the changes to our licensing model resulted in a significant reduction in our software license revenue for fiscal 2010, 2011 and 2012 as compared to the fiscal years preceding our licensing model changes. These changes did not impact the incurrence or timing of our expenses, and there was no corresponding expense reduction to offset the lower revenue, resulting in operating losses for fiscal 2010, 2011 and 2012.

•

The SMS component of our services and other revenue has decreased, and been offset by a corresponding increase in subscription and software revenue as customers have transitioned to our aspenONE licensing model. Under our aspenONE licensing model and for point product arrangements with Premier Plus SMS included for the full contract term, the entire arrangement fee, including the SMS component, is included within subscription and software revenue.

•

Installment payments from aspenONE agreements and from point product arrangements with SMS included for the contract term are not considered fixed or determinable, and as a result, are not included in installments receivable. Accordingly, our installments receivable balance has decreased as licenses previously executed under our upfront revenue model reached the end of their terms.

•

The amount of our deferred revenue has increased as more revenue from our term license portfolio has been recognized on a ratable basis.

Introduction of our Premier Plus SMS Offering

Revenue Recognition

Fee is fixed or determinable—We assess whether a fee is fixed or determinable at the outset of the arrangement. Significant judgment is involved in making this assessment.

Vendor-Specific Objective Evidence of Fair Value

Subscription and Software Revenue

Results of Operations Classification—Subscription and Software Revenue

			Revenue Recognition Methodology

	Revenue Classification in Income Statement		Revenue Recognition Methodology
	Revenue Classification in Income Statement		Fiscal 2013 and 2012
	Fiscal 2013 and 2012	Fiscal 2011	Fiscal 2013 and 2012	Fiscal 2011
Type of Revenue:
aspenONE subscription	Subscription and software	Subscription	Ratable	Ratable
Point products
—Software	Subscription and software	Software	Ratable	Residual method
—Bundled SMS	Subscription and software	Services and other	Ratable	Ratable
Other
—Legacy arrangements	Subscription and software	Software	Residual method	Residual method
—Perpetual arrangements	Subscription and software	Software	Residual method	Residual method

	Year Ended, June 30						Year Ended, June 30

	2013		2012		2011		2013			2012			2011
	(Dollars in Thousands)						% of Total
Subscription and software revenue:
Ratable(1)	$	225,064	$	144,144	$	58,459		93.9	%		86.5	%		56.4	%
Residual method(2)		14,590		22,544		45,240		6.1			13.5			43.6

Subscription and software revenue	$	239,654	$	166,688	$	103,699		100.0	%		100.0	%		100.0	%

(1): During fiscal 2011, the fair value of the SMS element of point product arrangements totaled $2.1 million and was presented in the consolidated statements of operations as services and other revenue. Effective July 1, 2011, the fee attributable to the SMS in point product arrangements is no longer separable since we are unable to establish VSOE, and as a result, is included within ratable revenue.

(2): Residual method revenue detail

	Year Ended, June 30

	2013			2012			2011
	(Dollars in Thousands)
Residual method revenue:
Point products—Software			*			*	$	20,190
Legacy arrangements		13,008			20,586			22,761
Perpetual arrangements		1,582			1,958			2,289

Total residual method revenue	$	14,590		$	22,544		$	45,240

*: Effective July 1, 2011, the total combined arrangement fee (which includes the fee attributable to SMS) for point product arrangements with Premier Plus SMS is recognized on a ratable basis.

Services and Other

SMS Revenue

Professional Services Revenue

Deferred Revenue

Other Licensing Matters

Installments Receivable

(g) Installments Receivable

Allowance for Doubtful Accounts and Discounts

(h) Allowance for Doubtful Accounts and Discounts

The following table presents our allowance for doubtful accounts activity for accounts receivable in fiscal 2013 and 2012, respectively:

	Year Ended June 30,

	2013			2012
	(Dollars in Thousands)
Balance, beginning of year	$	1,982		$	1,884
Provision for bad debts		521			567
Write-offs		(888	)		(468	)

Balance, end of year	$	1,615		$	1,982

	Gross		Unamortized Discounts		Allowance		Net

	(Dollars in Thousands)
June 30, 2013:
Accounts Receivable	$	38,603	$	—	$	1,615	$	36,988

	$	38,603	$	—	$	1,615	$	36,988

June 30, 2012:
Accounts Receivable	$	33,432	$	—	$	1,982	$	31,450
Collateralized Receivables- current		6,500		203		—		6,297

	$	39,932	$	203	$	1,982	$	37,747

Fair Value of Financial Instruments

(i) Fair Value of Financial Instruments

•

Level 1 Inputs—Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

•

Level 2 Inputs—Inputs other than quoted prices included in Level 1 that are observable for an asset or a liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for an asset or a liability (such as interest rates, yield curves, volatilities, prepayment speeds, credit risks, etc.), or inputs that are derived principally from or corroborated by market data by correlation or other means.

•

Level 3 Inputs—Unobservable inputs for determining fair values of assets or liabilities that reflect an entity's own assumptions in pricing assets or liabilities.

	Fair Value Measurements at Reporting Date Using,

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(Dollars in Thousands)
June 30, 2013:
Assets:
Cash equivalents	$	117,010	$	—
Marketable securities		—		92,368
June 30, 2012:
Assets:
Cash equivalents	$	144,009	$	—
Liabilities:
Secured borrowings		—		10,939

At June 30, 2013 and 2012, we did not have any assets or liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3).

Computer Software Development Costs

(j) Computer Software Development Costs

Foreign Currency Translation

(k) Foreign Currency Translation

Net Income (Loss) Per Share

(l) Net Income (Loss) Per Share

	Year Ended June 30,

	2013		2012			2011
	(Dollars and Shares in Thousands, Except per Share Data)
Net income (loss)	$	45,262	$	(13,808	)	$	10,257

Weighted average shares outstanding		93,586		93,780			93,488
Dilutive impact from:
Share-based payment awards		1,824		—			2,313
Warrants		—		—			52

Dilutive weighted average shares outstanding		95,410		93,780			95,853
Income (loss) per share
Basic	$	0.48	$	(0.15	)	$	0.11
Dilutive	$	0.47	$	(0.15	)	$	0.11

The following potential common shares were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive at the balance sheet date:

	Year Ended June 30,

	2013		2012		2011
	(Shares in Thousands)
Employee equity awards		443		6,554		1,728

Concentration of Credit Risk

(m) Concentration of Credit Risk

Intangible Assets, Goodwill and Long-Lived Assets

(n) Intangible Assets, Goodwill and Long-Lived Assets

Intangible Assets:

Intangible assets consist of the following as of June 30, 2013 and 2012:

	Gross Carrying Amount		Accumulated Amortization			Effect of currency translation			Net Carrying Amount

	(Dollars in Thousands)
June 30, 2013:
Technology and patents	$	2,596	$	(977	)	$	172		$	1,791	2.0

Total	$	2,596	$	(977	)	$	172		$	1,791	2.0

June 30, 2012:
Technology and patents	$	1,330	$	(139	)	$	(84	)	$	1,107	2.7

Total	$	1,330	$	(139	)	$	(84	)	$	1,107	2.7

Goodwill:

The changes in the carrying amount of the goodwill by reporting unit for the fiscal years 2013 and 2012 were as follows:

	Reporting Unit

Asset Class	License			SMS, Training, and Other			Professional Services			Total
	(Dollars in Thousands)
Balance as of June 30, 2011
Goodwill	$	68,049		$	16,144		$	5,102		$	89,295
Accumulated impairment losses		(65,569	)		—			(5,102	)		(70,671	)

	$	2,480		$	16,144		$	—		$	18,624

Acquisitions	$	1,641		$	—		$	—		$	1,641
Effect of currency translation		(120	)		(746	)		—			(866	)

Balance as of June 30, 2012
Goodwill	$	69,570		$	15,398		$	5,102		$	90,070
Accumulated impairment losses		(65,569	)		—			(5,102	)		(70,671	)

	$	4,001		$	15,398		$	—		$	19,399

Effect of currency translation		56			(324	)		—			(267	)
Balance as of June 30, 2013
Goodwill	$	69,626		$	15,074		$	5,102		$	89,803
Accumulated impairment losses		(65,569	)		—			(5,102	)		(70,671	)

	$	4,057		$	15,074		$	—		$	19,132

Impairment of Long-Lived Assets:

Comprehensive Income (Loss)

(o) Comprehensive Income (Loss)

As of June 30, 2012, 2011 and 2010, accumulated other comprehensive income is comprised entirely of foreign translation adjustments of $8.1 million, $9.1 million and $7.5 million, respectively.

Accounting for Stock-Based Compensation

(p) Accounting for Stock-Based Compensation

Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the vesting period.

Accounting for Transfers of Financial Assets

(q) Accounting for Transfers of Financial Assets

Income Taxes

(r) Income Taxes

Loss Contingencies

(s) Loss Contingencies

Advertising Costs

(t) Advertising Costs

Research and Development Expense

(u) Research and Development Expense

Recently Adopted Accounting Pronouncements

(v) Recently Adopted Accounting Pronouncements

Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2013

Significant Accounting Policies

Summary of the fair value, the amortized cost and unrealized holding gains (losses) on marketable securities

The following table summarizes the fair value, the amortized cost and unrealized holding gains (losses) on our marketable securities as of June 30, 2013:

	Fair Value		Cost		Unrealized Gains		Unrealized Losses

	(Dollars in Thousands)
U.S. corporate bonds	$	57,015	$	57,046	$	8	$	(39	)

Total short-term marketable securities	$	57,015	$	57,046	$	8	$	(39	)

U.S. corporate bonds	$	35,353	$	35,402	$	—	$	(49	)

Total long-term marketable securities	$	35,353	$	35,402	$	—	$	(49	)

Property and Equipment, Useful Lives

Asset Classification		Estimated Useful Life

Computer equipment		3 years
Purchased software		3 - 5 years
Furniture and fixtures		3 - 10 years
Leasehold improvements		Life of lease or asset, whichever is shorter

Revenue Classification and Revenue Recognition Methodology

			Revenue Recognition Methodology

	Revenue Classification in Income Statement		Revenue Recognition Methodology
	Revenue Classification in Income Statement		Fiscal 2013 and 2012
	Fiscal 2013 and 2012	Fiscal 2011	Fiscal 2013 and 2012	Fiscal 2011
Type of Revenue:
aspenONE subscription	Subscription and software	Subscription	Ratable	Ratable
Point products
—Software	Subscription and software	Software	Ratable	Residual method
—Bundled SMS	Subscription and software	Services and other	Ratable	Ratable
Other
—Legacy arrangements	Subscription and software	Software	Residual method	Residual method
—Perpetual arrangements	Subscription and software	Software	Residual method	Residual method

Reconciliation of Revenue Recognition Methodology

	Year Ended, June 30						Year Ended, June 30

	2013		2012		2011		2013			2012			2011
	(Dollars in Thousands)						% of Total
Subscription and software revenue:
Ratable(1)	$	225,064	$	144,144	$	58,459		93.9	%		86.5	%		56.4	%
Residual method(2)		14,590		22,544		45,240		6.1			13.5			43.6

Subscription and software revenue	$	239,654	$	166,688	$	103,699		100.0	%		100.0	%		100.0	%

(1): During fiscal 2011, the fair value of the SMS element of point product arrangements totaled $2.1 million and was presented in the consolidated statements of operations as services and other revenue. Effective July 1, 2011, the fee attributable to the SMS in point product arrangements is no longer separable since we are unable to establish VSOE, and as a result, is included within ratable revenue.

(2): Residual method revenue detail

	Year Ended, June 30

	2013			2012			2011
	(Dollars in Thousands)
Residual method revenue:
Point products—Software			*			*	$	20,190
Legacy arrangements		13,008			20,586			22,761
Perpetual arrangements		1,582			1,958			2,289

Total residual method revenue	$	14,590		$	22,544		$	45,240

*: Effective July 1, 2011, the total combined arrangement fee (which includes the fee attributable to SMS) for point product arrangements with Premier Plus SMS is recognized on a ratable basis.

Allowance for Doubtful Accounts Activity for Accounts Receivable

The following table presents our allowance for doubtful accounts activity for accounts receivable in fiscal 2013 and 2012, respectively:

	Year Ended June 30,

	2013			2012
	(Dollars in Thousands)
Balance, beginning of year	$	1,982		$	1,884
Provision for bad debts		521			567
Write-offs		(888	)		(468	)

Balance, end of year	$	1,615		$	1,982

Accounts Receivable and Collateralized Receivables Balances

	Gross		Unamortized Discounts		Allowance		Net

	(Dollars in Thousands)
June 30, 2013:
Accounts Receivable	$	38,603	$	—	$	1,615	$	36,988

	$	38,603	$	—	$	1,615	$	36,988

June 30, 2012:
Accounts Receivable	$	33,432	$	—	$	1,982	$	31,450
Collateralized Receivables- current		6,500		203		—		6,297

	$	39,932	$	203	$	1,982	$	37,747

Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on a Recurring Basis

	Fair Value Measurements at Reporting Date Using,

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(Dollars in Thousands)
June 30, 2013:
Assets:
Cash equivalents	$	117,010	$	—
Marketable securities		—		92,368
June 30, 2012:
Assets:
Cash equivalents	$	144,009	$	—
Liabilities:
Secured borrowings		—		10,939

Calculations of Basic and Diluted Net Income (Loss) per Share

The calculations of basic and diluted net income (loss) per share and basic and diluted weighted average shares outstanding are as follows:

	Year Ended June 30,

	2013		2012			2011
	(Dollars and Shares in Thousands, Except per Share Data)
Net income (loss)	$	45,262	$	(13,808	)	$	10,257

Weighted average shares outstanding		93,586		93,780			93,488
Dilutive impact from:
Share-based payment awards		1,824		—			2,313
Warrants		—		—			52

Dilutive weighted average shares outstanding		95,410		93,780			95,853
Income (loss) per share
Basic	$	0.48	$	(0.15	)	$	0.11
Dilutive	$	0.47	$	(0.15	)	$	0.11

Potential Common Shares Excluded From Calculation of Dilutive Weighted Average Shares Outstanding

The following potential common shares were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive at the balance sheet date:

	Year Ended June 30,

	2013		2012		2011
	(Shares in Thousands)
Employee equity awards		443		6,554		1,728

Intangible Assets

Intangible assets consist of the following as of June 30, 2013 and 2012:

	Gross Carrying Amount		Accumulated Amortization			Effect of currency translation			Net Carrying Amount

	(Dollars in Thousands)
June 30, 2013:
Technology and patents	$	2,596	$	(977	)	$	172		$	1,791	2.0

Total	$	2,596	$	(977	)	$	172		$	1,791	2.0

June 30, 2012:
Technology and patents	$	1,330	$	(139	)	$	(84	)	$	1,107	2.7

Total	$	1,330	$	(139	)	$	(84	)	$	1,107	2.7

Carrying Amount of Goodwill

The changes in the carrying amount of the goodwill by reporting unit for the fiscal years 2013 and 2012 were as follows:

	Reporting Unit

Asset Class	License			SMS, Training, and Other			Professional Services			Total
	(Dollars in Thousands)
Balance as of June 30, 2011
Goodwill	$	68,049		$	16,144		$	5,102		$	89,295
Accumulated impairment losses		(65,569	)		—			(5,102	)		(70,671	)

	$	2,480		$	16,144		$	—		$	18,624

Acquisitions	$	1,641		$	—		$	—		$	1,641
Effect of currency translation		(120	)		(746	)		—			(866	)

Balance as of June 30, 2012
Goodwill	$	69,570		$	15,398		$	5,102		$	90,070
Accumulated impairment losses		(65,569	)		—			(5,102	)		(70,671	)

	$	4,001		$	15,398		$	—		$	19,399

Effect of currency translation		56			(324	)		—			(267	)
Balance as of June 30, 2013
Goodwill	$	69,626		$	15,074		$	5,102		$	89,803
Accumulated impairment losses		(65,569	)		—			(5,102	)		(70,671	)

	$	4,057		$	15,074		$	—		$	19,132

Restructuring Charges (Tables)

12 Months Ended

Jun. 30, 2013

Restructuring Charges

Restructuring Charges Activity

The following activity was recorded for the indicated years:

	Closure/ Consolidation of Facilities and Contract Termination Costs

	(Dollars in Thousands)
Accrued expenses, June 30, 2010	$	8,514
Fiscal 2011 payments		(4,066	)
Restructuring charge—accretion		354
Change in estimate—revised assumption		(601	)

Accrued expenses, June 30, 2011	$	4,201

Fiscal 2012 payments		(2,998	)
Restructuring charge—accretion		202
Change in estimate—revised assumption		(503	)

Accrued expenses, June 30, 2012	$	902

Fiscal 2013 payments		(803	)
Restructuring charge—accretion		17
Change in estimate—revised assumption		(22	)

Accrued expenses, June 30, 2013	$	94

Supplemental Balance Sheet Information (Tables)

12 Months Ended

Jun. 30, 2013

Supplemental Balance Sheet Information

Property, Equipment and Leasehold Improvements

Property, equipment and leasehold improvements in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,

	2013			2012
	(Dollars in Thousands)
Property, equipment and leasehold improvements—at cost:
Computer equipment	$	11,106		$	10,528
Purchased software		21,642			19,905
Furniture & fixtures		4,475			3,615
Leasehold improvements		3,379			3,044
Accumulated depreciation		(32,773	)		(30,055	)

Property, equipment and leasehold improvements—net	$	7,829		$	7,037

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,

	2013		2012
	(Dollars in Thousands)
Royalties and outside commissions	$	4,312	$	4,875
Payroll and payroll-related		18,702		21,558
Other		11,407		11,556

Total accrued expenses and other current liabilities	$	34,421	$	37,989

Other Non-current Liabilities

Other non-current liabilities in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,

	2013		2012
	(Dollars in Thousands)
Deferred rent	$	862	$	1,532
Other*		11,515		13,897

Total other non-current liabilities	$	12,377	$	15,429

*: Other is comprised primarily of our net reserve for uncertain tax liabilities. See Note 8, "Income Taxes" for additional information.

Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2013

Stock-Based Compensation

Weighted Average Assumptions

We utilized the Black-Scholes option valuation model with the following weighted average assumptions:

	Year Ended June 30,

	2013			2012			2011
Risk-free interest rate		0.6	%		1.1	%		1.3	%
Expected dividend yield		None			None			None
Expected life (in years)		4.8			4.6			4.6
Expected volatility factor		49	%		50	%		53	%

Stock-based Compensation Expense

The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2013, 2012 and 2011 was as follows:

	Year Ended June 30,

	2013		2012		2011
	(Dollars in Thousands)
Recorded as expenses:
Cost of service and other	$	1,281	$	1,168	$	945
Selling and marketing		3,890		4,601		3,603
Research and development		2,969		1,334		1,152
General and administrative		6,497		5,303		3,999

Total stock-based compensation	$	14,637	$	12,406	$	9,699

Stock Options and RSU Activity

A summary of stock option and RSU activity under all equity plans in fiscal 2013, 2012 and 2011 is as follows:

	Stock Options									Restricted Stock Units

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value (in 000's)		Shares			Weighted Average Grant Date Fair Value
Outstanding at June 30, 2012		4,180,265		$	9.03						1,327,071		$	12.73
Granted		498,264			23.40						592,842			23.46
Settled (RSUs)		—			—						(815,440	)		13.99
Exercised		(2,743,772	)		7.71						—			—
Cancelled / Forfeited		(82,639	)		12.99						(73,634	)		15.59

Outstanding at June 30, 2013		1,852,118		$	14.68		6.80	$	26,140		1,030,839		$	17.69

Vested and exercisable at June 30, 2013		972,407		$	12.05		5.64	$	16,278		—			—
Vested and expected to vest at June 30, 2013		1,563,655		$	14.09		6.53	$	22,984		751,521		$	17.39

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

Income (loss) before provision for (benefit from) income taxes

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2013

Income Taxes

Income (loss) before provision for (benefit from) income taxes consists of the following:

	Year Ended June 30,

	2013		2012			2011
	(Dollars in Thousands)
Domestic	$	54,587	$	(14,086	)	$	(50,395	)
Foreign		2,851		(1,066	)		6,675

Income (loss) before provision for (benefit from) income taxes	$	57,438	$	(15,152	)	$	(43,720	)

(Benefit from) Provision for Income Taxes

The provision for (benefit from) income taxes shown in the accompanying consolidated statements of operations is composed of the following:

	Year Ended June 30,

	2013			2012			2011
	(Dollars in Thousands)
Federal—
Current	$	—		$	—		$	—
Deferred		7,867			(3,409	)		(60,004	)
State—
Current		136			191			132
Deferred		693			33			(1,702	)
Foreign—
Current		7,068			3,292			5,446
Deferred		(3,588	)		(1,451	)		2,151

	$	12,176		$	(1,344	)	$	(53,977	)

Income Tax Reconciliation Based on Federal Statutory Rate

The provision for (benefit from) income taxes differs from that based on the federal statutory rate due to the following:

	Year Ended June 30,

	2013			2012			2011
	(Dollars in Thousands)
Federal tax provision (benefit) at statutory rate	$	20,103		$	(5,303	)	$	(15,302	)
State income taxes		88			124			86
Subpart F and dividend income		4,456			4,189			1,235
Foreign taxes and rate differences		2,298			1,001			2,218
Stock-based compensation		900			2,968			3,338
Tax credits		(4,816	)		(3,913	)		(4,524	)
Tax contingencies		(168	)		(2,385	)		7,158
Return to provision adjustments		(149	)		442			1,182
Valuation allowance		(1,813	)		1,431			(48,830	)
Benefit from foreign restructuring		(9,266	)		—			—
Other		543			102			(538	)

Provision for (benefit from) income taxes	$	12,176		$	(1,344	)	$	(53,977	)

Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) consist of the following at June 30, 2013 and 2012:

	Year Ended June 30,

	2013			2012
	(Dollars in Thousands)
Deferred tax assets:
Federal and state credits	$	4,918		$	4,000
Foreign tax credits		33,310			38,870
Federal and state loss carryforwards		6,221			18,458
Capital loss carryforwards		8,076			—
Foreign loss carryforwards		1,653			2,658
Deferred revenue		4,198			3,682
Restructuring accruals		34			326
Other reserves and accruals		4,834			5,119
Intangible assets		719			1,037
Property, leasehold improvements, and other basis differences		2,829			3,523
Other temporary differences		3,504			5,596

		70,296			83,269
Deferred tax liabilities:
Deferred revenue		(151	)		(714	)
Intangible assets		(1,444	)		(1,558	)
Property, leasehold improvements, and other basis differences		(16	)		(9,583	)
Other temporary differences		(677	)		(683	)

		(2,288	)		(12,538	)
Valuation allowance		(9,943	)		(5,626	)

Net deferred tax assets	$	58,065		$	65,105

Reconciliation of Reserve for Uncertain Tax Positions

A reconciliation of the reserve for uncertain tax positions is as follows:

	Year Ended June 30,

	2013			2012			2011
	(Dollars in Thousands)
Uncertain tax positions, beginning of year	$	21,906		$	24,835		$	17,730
Gross increases—tax positions in prior period		1,150			2,072			4,599
Gross decreases—tax positions in prior period		—			(1,468	)		(1,025	)
Gross increases—tax positions in current period		—			—			3,333
Gross decreases—lapse of statutes		(1,172	)		(2,954	)		(517	)
Currency translation adjustment		147			(579	)		715

Uncertain tax positions, end of year	$	22,031		$	21,906		$	24,835

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

Operating Leases, Future Minimum Payments Due

Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2013

Commitments and Contingencies

Future minimum lease payments under these leases and scheduled sublease payments as of June 30, 2013 are as follows:

Year Ended June 30,	Gross Payments		Scheduled Sublease Payments		Net Payments

	(Dollars in Thousands)
2014	$	6,857	$	163	$	6,694
2015		5,038		163		4,875
2016		2,686		163		2,523
2017		461		14		447

Total	$	15,042	$	503	$	14,539

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

Summary of Operating Segments

Segment and Geographic Information (Tables)

12 Months Ended

Jun. 30, 2013

Segment and Geographic Information

The following table presents a summary of operating segments:

	License		SMS, Training, and Other		Professional Services			Total

	(Dollars in Thousands)
Year Ended June 30, 2013—
Segment revenue	$	239,654	$	44,877	$	26,856		$	311,387
Segment expenses		68,448		6,753		23,540			98,741

Segment operating profit(1)	$	171,206	$	38,124	$	3,316		$	212,646

Year Ended June 30, 2012—
Segment revenue	$	166,688	$	54,025	$	22,421		$	243,134
Segment expenses		71,050		9,631		24,505			105,186

Segment operating profit (loss)(1)	$	95,638	$	44,394	$	(2,084	)	$	137,948

Year Ended June 30, 2011—
Segment revenue	$	103,699	$	65,121	$	29,334		$	198,154
Segment expenses		66,821		13,495		25,404			105,720

Segment operating profit(1)	$	36,878	$	51,626	$	3,930		$	92,434

(1): The segment operating profits (losses) reported reflect the direct expenses of the operating segment and contain certain allocations of selling and marketing, general and administrative, research and development, and do not contain restructuring and other corporate expenses incurred in support of the segments.

Reconciliation of Total Segment Operating Profit to income (loss) Before Income Taxes

The following table presents a reconciliation of total segment operating profit to income (loss) before provision for (benefit from) income taxes:

	Year Ended June 30,

	2013			2012			2011
	(Dollars in Thousands)
Total segment operating profit for reportable segments	$	212,646		$	137,948		$	92,434
Cost of subscription and software		(12,788	)		(10,617	)		(5,213	)
Marketing		(13,119	)		(13,231	)		(12,690	)
Research and development		(51,735	)		(47,391	)		(41,932	)
General and administrative		(39,340	)		(44,780	)		(51,363	)
Information technology and overhead		(25,432	)		(24,831	)		(26,360	)
Stock-based compensation		(14,637	)		(12,406	)		(9,699	)
Restructuring charges		5			301			247
Other (expense) income, net		(1,117	)		(3,519	)		2,919
Interest income, net		2,955			3,374			7,937

Income (loss) before provision for (benefit from) income taxes	$	57,438		$	(15,152	)	$	(43,720	)

Domestic and International Sales as a Percentage of Total Revenue

Domestic and international sales as a percentage of total revenue are as follows:

	Year Ended June 30,

	2013			2012			2011
United States		38.5	%		29.5	%		35.8	%
Europe		29.3			33.7			26.6
Other(1)		32.2			36.8			37.6

		100.0	%		100.0	%		100.0	%

(1): Other consists primarily of Asia Pacific, Canada, Latin America and the Middle East.

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Jun. 30, 2013

Quarterly Consolidated Statement of Operations Data

	Three Months Ended

	June 30, 2013		March 31, 2013		December 31, 2012		September 30, 2012
	(Dollars and Shares in Thousands, Except per Share Data)
Total revenue	$	83,264	$	79,357	$	77,309	$	71,457
Gross profit		70,276		66,708		64,936		59,119
Income from operations		15,383		16,334		14,929		8,954
Net income		20,399		10,513		9,937		4,413
Net income per common share:
Basic	$	0.22	$	0.11	$	0.11	$	0.05
Diluted	$	0.21	$	0.11	$	0.10	$	0.05
Weighted average shares outstanding:
Basic		93,680		93,730		93,512		93,428
Diluted		95,257		95,400		95,463		95,670

	Three Months Ended

	June 30, 2012			March 31, 2012			December 31, 2011		September 30, 2011
	(Dollars and Shares in Thousands, Except per Share Data)
Total revenue	$	64,017		$	61,337		$	66,555	$	51,225
Gross profit		50,916			48,907			53,630		37,404
(Loss) income from operations		(3,609	)		(2,814	)		7,041		(15,625	)
Net (loss) income		(5,388	)		(520	)		3,836		(11,736	)
Net (loss) income per common share:
Basic	$	(0.06	)	$	(0.01	)	$	0.04	$	(0.12	)
Diluted	$	(0.06	)	$	(0.01	)	$	0.04	$	(0.12	)
Weighted average shares outstanding:
Basic		93,563			93,583			93,902		94,065
Diluted		93,563			93,583			96,267		94,065

Operations (Details)	Jun. 30, 2013 item
Operations
Number of countries of operations	30

Significant Accounting Policies (Details) - U.S. corporate bonds $ in Thousands	Jun. 30, 2013 USD ($)
Short-term Marketable Securities
Marketable Securities
Fair Value	$ 57,015
Cost	57,046
Unrealized Gain	8
Unrealized Loss	(39)
Long-term Marketable Securities
Marketable Securities
Fair Value	35,353
Cost	35,402
Unrealized Gain	0
Unrealized Loss	$ (49)

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

Maturity period of marketable securities, maximum minimum period

Significant Accounting Policies (Details 2) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Property, Plant and Equipment
Depreciation expense	$ 3.4	$ 3.5	$ 3.8
Computer equipment
Property, Plant and Equipment
Estimated Useful Life	3 years
Purchased software \| Minimum
Property, Plant and Equipment
Estimated Useful Life	3 years
Purchased software \| Maximum
Property, Plant and Equipment
Estimated Useful Life	5 years
Furniture and fixtures \| Minimum
Property, Plant and Equipment
Estimated Useful Life	3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment
Estimated Useful Life	10 years

Significant Accounting Policies (Details 3) $ in Thousands	12 Months Ended
Significant Accounting Policies (Details 3) $ in Thousands	Jun. 30, 2013 USD ($) item	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Jun. 30, 2009 USD ($)
Revenue recognition
Net cash provided by operating activities related to aspenONE subscription offerings	$ 146,600			$ 33,000
Expense reduction to offset the lower revenue	0	$ 0	$ 0
Concessions given on contract modification to an existing term arrangement	0
Subscription and software revenue
Ratable	225,064	144,144	58,459
Residual method	14,590	22,544	45,240
Subscription and software revenue	$ 239,654	$ 166,688	$ 103,699
Ratable, percent of total	93.90%	86.50%	56.40%
Residual method, percent of total	6.10%	13.50%	43.60%
Subscription and software revenue, percent of total	100.00%	100.00%	100.00%
Number of idemnification obligation claims outstanding \| item	0
Point products - Software
Subscription and software revenue
Residual method	$ 0	$ 0	$ 20,190
Point products - Bundled SMS
Subscription and software revenue
Bundled SMS revenue from point products			2,100
Other - Legacy arrangements
Subscription and software revenue
Residual method	13,008	20,586	22,761
Other - Perpetual arrangements
Subscription and software revenue
Residual method	$ 1,582	$ 1,958	$ 2,289

Significant Accounting Policies (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Installments Receivable
Percentage of total installments receivable allowance for doubtful accounts represented by specific reserve	96.00%	89.00%
Threshold period for classification of installments receivable to trade accounts receivable (as a percent)	45 days
Accounts Receivable
Gross	$ 38,603	$ 33,432
Unamortized Discounts	0	0
Allowance	1,615	1,982
Net	36,988	31,450
Collateralized Receivable - current
Gross		6,500
Unamortized Discounts		203
Allowance		0
Net	0	6,297
Accounts Receivable and Collateralized Receivable - current
Gross	38,603	39,932
Unamortized Discounts	0	203
Allowance	1,615	1,982
Net	36,988	37,747
Installments receivable, Current
Installments receivable, gross	14,400	35,000
Less: Unamortized discount	600	1,600
Installments receivable, Non-current
Installments receivable, gross	1,100	15,900
Less: Unamortized discount	100	1,800
Allowance For Doubtful Accounts Installments Receivables Current
Allowance for doubtful accounts
Beginning balance	200	800
Ending balance		200
Allowance For Doubtful Accounts Installments Receivables Current \| Maximum
Allowance for doubtful accounts
Ending balance	100
Allowance For Doubtful Accounts Installments Receivables Non Current
Allowance for doubtful accounts
Beginning balance		100
Allowance For Doubtful Accounts Installments Receivables Non Current \| Maximum
Allowance for doubtful accounts
Beginning balance	100
Ending balance	100	100
Accounts Receivable Allowances
Allowance for doubtful accounts
Beginning balance	1,982	1,884
Write-offs	(888)	(468)
Provision for bad debts	521	567
Ending balance	$ 1,615	1,982
Transfers to trade accounts receivable		$ 800

Significant Accounting Policies (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Secured borrowings fair value in excess of carrying value		$ 200
Computer Software Development Costs
Maximum period over which amortization of computer software development costs provided on a product-by-product basis using straight-line method	3 years
Computer software cost capitalized	$ 1,200	500	$ 2,000
Amortization of expense charged to operations	1,100	1,600	1,500
Computer software development accumulated amortization	71,500	70,500	68,900
Foreign Currency Translation
Foreign currency transaction (losses) gains	(1,200)	(3,700)	$ 3,300
Fair Value, Measurements, Recurring \| Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	117,010	144,009
Marketable Securities	0
Secured borrowings		0
Fair Value, Measurements, Recurring \| Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Marketable Securities	$ 92,368
Secured borrowings		$ 10,939

Significant Accounting Policies (Details 6)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Jun. 30, 2013

USD ($)

$ / shares

Mar. 31, 2013

USD ($)

$ / shares

Dec. 31, 2012

USD ($)

$ / shares

Sep. 30, 2012

USD ($)

$ / shares

Jun. 30, 2012

USD ($)

$ / shares

Mar. 31, 2012

USD ($)

$ / shares

Dec. 31, 2011

USD ($)

$ / shares

Sep. 30, 2011

USD ($)

$ / shares

Jun. 30, 2013

USD ($)

item

$ / shares

Jun. 30, 2012

USD ($)

$ / shares

Jun. 30, 2011

USD ($)

$ / shares

Concentration of Credit Risk

1 month

Maturity period of marketable securities, maximum

19 months

Number of customer receivables balance representing a concentration | item

Net (Loss) Income per Common Share

Net (loss) income | $

$ 20,399

$ 10,513

$ 9,937

$ 4,413

$ (5,388)

$ (520)

$ 3,836

$ (11,736)

$ 45,262

^[1]

$ (13,808)

^[1]

$ 10,257

^[1]

Weighted average shares outstanding (in shares)

93,680

93,730

93,512

93,428

93,563

93,583

93,902

94,065

93,586

93,780

93,488

Dilutive impact from:

Share-based payment awards (in shares)

1,824

2,313

Warrants (in shares)

Dilutive weighted average shares outstanding (in shares)

95,257

95,400

95,463

95,670

93,563

93,583

96,267

94,065

95,410

93,780

95,853

Net income (loss) per common share:

Basic (in dollars per share) | $ / shares

$ 0.22

$ 0.11

$ 0.05

$ (0.06)

$ (0.01)

$ 0.04

$ (0.12)

$ 0.48

$ (0.15)

$ 0.11

Diluted (in dollars per share) | $ / shares

$ 0.21

$ 0.11

$ 0.10

$ 0.05

$ (0.06)

$ (0.01)

$ 0.04

$ (0.12)

$ 0.47

$ (0.15)

$ 0.11

Anti-dilutive Securities Excluded from Computation of (Loss) Income per Share

Employee equity awards (in shares)

443

6,554

1,728

Accounts and installments receivable | Customers concentration risk

Concentration of Credit Risk

Percentage of total receivables

11.00%

[1]	Our provision for income taxes provided a net benefit of $54.0 million in fiscal 2011, due to the reversal of a significant portion of our U.S. valuation allowance in the fourth quarter of fiscal 2011. See Note 8 to our Consolidated Financial Statements, "Income Taxes," for further information.

Significant Accounting Policies (Details 7) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Finite-Lived Intangible Assets
Intangible asset amortization expense	$ 700	$ 100	$ 0
Future Amortization Expense
Amortization expense - 2014	900
Amortization expense - 2015	700
Amortization expense - 2016	100
Technology and patents
Finite-Lived Intangible Assets
Gross Carrying Amount	2,596	1,330
Accumulated Amortization	(977)	(139)
Effect of currency translation	172	(84)
Net Carrying Amount	$ 1,791	$ 1,107
Technology and patents \| Weighted average
Finite-Lived Intangible Assets
Weighted Average Remaining Life	2 years	2 years 8 months 12 days

Significant Accounting Policies (Details 8) $ in Thousands	12 Months Ended
Significant Accounting Policies (Details 8) $ in Thousands	Jun. 30, 2013 USD ($) item	Jun. 30, 2012 USD ($) item	Jun. 30, 2011 USD ($)	Jun. 30, 2010 USD ($)
Goodwill:
Goodwill, gross, beginning balance	$ 90,070	$ 89,295
Accumulated impairment losses, beginning balance	(70,671)	(70,671)
Goodwill, net, beginning balance	19,399	18,624
Acquisitions		1,641
Effect of currency translation	(267)	(866)
Goodwill, gross, ending balance	89,803	90,070	$ 89,295
Accumulated impairment losses, ending balance	(70,671)	(70,671)	(70,671)
Goodwill, net, ending balance	$ 19,132	$ 19,399	18,624
Number of triggering events indicating goodwill impairment occurred \| item	0	0
Accounting for Transfers of Financial Assets
Outstanding secured borrowings	$ 0
Receivables pledged as collateral	0	$ 6,300
Advertising expenses
Advertising expenses	2,900	2,200	3,000
Prepaid advertising costs	0	0
Comprehensive Income (Loss)
Foreign translation adjustments	7,300	8,100	9,100	$ 7,500
Net unrealized losses on available for sale securities	(100)
License
Goodwill:
Goodwill, gross, beginning balance	69,570	68,049
Accumulated impairment losses, beginning balance	(65,569)	(65,569)
Goodwill, net, beginning balance	4,001	2,480
Acquisitions		1,641
Effect of currency translation	56	(120)
Goodwill, gross, ending balance	69,626	69,570	68,049
Accumulated impairment losses, ending balance	(65,569)	(65,569)	(65,569)
Goodwill, net, ending balance	4,057	4,001	2,480
SMS, Training and Other
Goodwill:
Goodwill, gross, beginning balance	15,398	16,144
Accumulated impairment losses, beginning balance	0	0
Goodwill, net, beginning balance	15,398	16,144
Acquisitions		0
Effect of currency translation	(324)	(746)
Goodwill, gross, ending balance	15,074	15,398	16,144
Accumulated impairment losses, ending balance	0	0	0
Goodwill, net, ending balance	15,074	15,398	16,144
Professional Services
Goodwill:
Goodwill, gross, beginning balance	5,102	5,102
Accumulated impairment losses, beginning balance	(5,102)	(5,102)
Goodwill, net, beginning balance	0	0
Acquisitions		0
Effect of currency translation	0	0
Goodwill, gross, ending balance	5,102	5,102	5,102
Accumulated impairment losses, ending balance	(5,102)	(5,102)	(5,102)
Goodwill, net, ending balance	$ 0	$ 0	$ 0

Restructuring Charges (Details) $ in Thousands	12 Months Ended
Restructuring Charges (Details) $ in Thousands	Jun. 30, 2013 USD ($) item	Jun. 30, 2012 USD ($) item	Jun. 30, 2011 USD ($) item
Restructuring Charges
Restructuring charges, net	$ (5)	$ (301)	$ (247)
Number of restructuring actions taken \| item	0	0	0
Restructuring Reserve
Estimated sub-lease income	$ 500
Anticipated net cash payments to settle liabilities made through 2017	100
Closure, Consolidation of Facilities and Contract Termination Cost
Restructuring Reserve
Accrued expenses, beginning balance	902	$ 4,201	$ 8,514
Fiscal year payments	(803)	(2,998)	(4,066)
Restructuring charge-accretion	17	202	354
Change in estimate-revised assumption	(22)	(503)	(601)
Accrued expenses, ending balance	$ 94	$ 902	$ 4,201

Secured Borrowings and Collateralized Receivables (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Secured Borrowings and Collateralized Receivables
Outstanding secured borrowings	$ 0.0
Receivables pledged as collateral	0.0	$ 6.3
Total secured borrowings		$ 10.8
Interest rate implicit in the installment receivables (as a percent)		8.00%
Interest income associated with collateralized receivables	0.2	$ 1.2	$ 3.2
Interest expense associated with secured borrowings	$ 0.3	$ 3.0	$ 5.3

Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2013	Jun. 30, 2012
Property, Plant and Equipment
Accumulated depreciation	$ (32,773)	$ (30,055)
Property, equipment and leasehold improvements-net	7,829	7,037
Balance of asset retirement obligations	600	700
Accrued expenses and other current liabilities
Royalties and outside commissions	4,312	4,875
Payroll and payroll-related	18,702	21,558
Other	11,407	11,556
Total accrued expenses and other liabilities	34,421	37,989
Other non-current liabilities
Deferred rent	862	1,532
Other	11,515	13,897
Total other non-current liabilities	12,377	15,429
Computer equipment
Property, Plant and Equipment
Property, equipment and leasehold improvements-at cost	11,106	10,528
Purchased software
Property, Plant and Equipment
Property, equipment and leasehold improvements-at cost	21,642	19,905
Furniture and fixtures
Property, Plant and Equipment
Property, equipment and leasehold improvements-at cost	4,475	3,615
Leasehold improvements
Property, Plant and Equipment
Property, equipment and leasehold improvements-at cost	$ 3,379	$ 3,044

Common Stock (Details) - USD ($) $ in Thousands					12 Months Ended
Common Stock (Details) - USD ($) $ in Thousands	Apr. 23, 2013	Oct. 24, 2012	Nov. 02, 2011	Oct. 29, 2010	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Common Stock
Approved stock repurchase program, authorized amount	$ 150,000	$ 100,000	$ 100,000	$ 40,000
Repurchase of common stock (in shares)					3,064,151	2,496,595
Repurchase of common stock, amount					$ 84,677	$ 46,105	$ 10,531
Remaining capacity under the stock repurchase program	$ 58,400				$ 134,400

Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method.

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011	Apr. 30, 2010	May 31, 2005
Stock-based compensation, additional disclosures
Common stock reserved for future issuance or settlement (in shares)	7,700,000
Weighted Average Grant Date Fair Value
Payments related to tax withholding	$ 7,705	$ 4,597	$ 3,885
Stock Options
General award terms
Award vesting period	4 years
Weighted average assumptions
Weighted average fair value (in dollars per share)	$ 9.76	$ 6.49	$ 4.99
Risk-free interest rate (as a percent)	0.60%	1.10%	1.30%
Expected life	4 years 9 months 18 days	4 years 7 months 6 days	4 years 7 months 6 days
Expected volatility factor (as a percent)	49.00%	50.00%	53.00%
Expected dividend yield (as a percent)	0.00%	0.00%	0.00%
Stock options activity
Outstanding, beginning of period (in shares)	4,180,265
Granted (in shares)	498,264
Exercised (in shares)	(2,743,772)
Cancelled / Forfeited (in shares)	(82,639)
Outstanding, end of period (in shares)	1,852,118	4,180,265
Vested and exercisable, end of period (in shares)	972,407
Vested and expected to vest, end of period (in shares)	1,563,655
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 9.03
Granted (in dollars per share)	23.40
Exercised (in dollars per share)	7.71
Cancelled / Forfeited (in dollars per share)	12.99
Outstanding, end of period (in dollars per share)	14.68	$ 9.03
Vested and exercisable, end of period (in dollars per share)	12.05
Vested and expected to vest, end of period (in dollars per share)	$ 14.09
Weighted Average Remaining Contractual Term
Outstanding, end of period	6 years 9 months 18 days
Vested and exercisable, end of period	5 years 7 months 20 days
Vested and expected to vest, end of period	6 years 6 months 11 days
Aggregate Intrinsic Value
Outstanding, end of period	$ 26,140
Vested and exercisable, end of period	16,278
Vested and expected to vest, end of period	$ 22,984
Restricted stock units activity
Outstanding, beginning of period (in shares)	1,327,071
Granted (in shares)	592,842
Settled (in shares)	(815,440)
Cancelled / Forfeited (in shares)	(73,634)
Outstanding, end of period (in shares)	1,030,839	1,327,071
Vested and expected to vest (in shares)	751,521
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)	$ 12.73
Granted (in dollars per share)	23.46	$ 15.52	$ 11.02
Settled (RSUs) (in dollars per share)	13.99
Cancelled / Forfeited (in dollars per share)	15.59
Outstanding, end of period (in dollars per share)	$ 17.69	$ 12.73
Vested and expected to vest, end of period (in dollars per share)	17.39
Total unrecognized compensation cost	$ 4,900
Total unrecognized compensation cost, period of recognition	2 years 3 months 18 days
Total intrinsic value of options exercised	$ 55,700	$ 14,600	$ 12,200
Cash proceeds from option exercises	$ 21,100	8,900	9,700
Stock grant (in shares)	333,214
Stock Options \| Minimum
General award terms
Contractual terms	7 years
Stock Options \| Maximum
General award terms
Contractual terms	10 years
Restricted Stock Units
General award terms
Award vesting period	4 years
Weighted Average Grant Date Fair Value
Total fair value of shares vested from RSU grants	$ 22,500	14,000	11,700
Total unrecognized compensation cost	$ 13,400
Total unrecognized compensation cost, period of recognition	2 years 4 months 24 days
Payments related to tax withholding	$ 7,700	$ 4,600	$ 3,900
Stock grant (in shares)	392,440
2010 Plan
Stock-based compensation, additional disclosures
Maximum number of shares authorized (in shares)	7,000,000			7,000,000
Common stock reserved for future issuance or settlement (in shares)	4,566,530
2005 Plan
Stock-based compensation, additional disclosures
Maximum number of shares authorized (in shares)	4,000,000				4,000,000
Common stock reserved for future issuance or settlement (in shares)	214,712

Stock-Based Compensation (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Recorded as expenses:
Total stock-based compensation	$ 14,637	$ 12,406	$ 9,699
Cost of services and other
Recorded as expenses:
Total stock-based compensation	1,281	1,168	945
Selling and marketing
Recorded as expenses:
Total stock-based compensation	3,890	4,601	3,603
Research and development
Recorded as expenses:
Total stock-based compensation	2,969	1,334	1,152
General and administrative
Recorded as expenses:
Total stock-based compensation	$ 6,497	$ 5,303	$ 3,999

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

Income (loss) before provision for income taxes

Income Taxes (Details) - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2011

Domestic

$ 54,587

$ (14,086)

$ (50,395)

Foreign

2,851

(1,066)

6,675

Income (loss) before provision for (benefit from) income taxes

57,438

(15,152)

(43,720)

Federal

Current

Deferred

7,867

(3,409)

(60,004)

State

Current

136

191

132

Deferred

693

(1,702)

Foreign

Current

7,068

3,292

5,446

Deferred

(3,588)

(1,451)

2,151

Provision for (benefit from) income taxes

^[1]

12,176

(1,344)

(53,977)

Income Tax Reconciliation

Federal tax provision (benefit) at statutory rate

20,103

(5,303)

(15,302)

State income taxes

124

Subpart F and dividend income

4,456

4,189

1,235

Foreign taxes and rate differences

2,298

1,001

2,218

Return to provision adjustments

900

2,968

3,338

Tax credits

(4,816)

(3,913)

(4,524)

Tax contingencies

(168)

(2,385)

7,158

(149)

442

1,182

Valuation allowance

(1,813)

1,431

(48,830)

Benefit from foreign restructuring

(9,266)

Other

543

102

(538)

Provision for (benefit from) income taxes

^[1]

12,176

(1,344)

(53,977)

Deferred tax assets:

Federal and state credits

4,918

4,000

Foreign tax credits

33,310

38,870

Federal and state loss carryforwards

6,221

18,458

Capital loss carryforwards

8,076

Foreign loss carryforwards

1,653

2,658

Deferred revenue

4,198

3,682

Restructuring accruals

326

Other reserves and accruals

4,834

5,119

Intangible assets

719

1,037

Property, leasehold improvements, and other basis differences

2,829

3,523

Other temporary differences

3,504

5,596

Deferred tax assets, total

70,296

83,269

Deferred tax liabilities:

Deferred revenue

(151)

(714)

Intangible assets

(1,444)

(1,558)

Property, leasehold improvements, and other basis differences

(16)

(9,583)

Other temporary differences

(677)

(683)

Deferred tax liabilities, total

(2,288)

(12,538)

Valuation allowance

(9,943)

(5,626)

Net deferred tax assets

58,065

65,105

Deferred tax liability eliminated on restructuring

9,300

Capital loss recognized for tax purposes

22,200

Increase in valuation allowance on recognition of capital loss

8,100

Decrease in valuation allowance related to entities in UK

1,900

Operating Loss Carryforwards

Deferred tax asset related to net carryforward

14,600

Reconciliation of the reserve for uncertain tax positions

Unrecognized tax positions, beginning of year

21,906

24,835

17,730

Gross increases-tax positions in prior period

1,150

2,072

4,599

Gross decreases-tax positions in prior period

(1,468)

(1,025)

Gross increases-tax positions in current period

3,333

Gross decreases-lapse of statutes

(1,172)

(2,954)

(517)

Currency translation adjustment

147

(579)

715

Unrecognized tax positions, end of year

22,031

$ 21,906

$ 24,835

Unrecognized tax benefits that if recognized would reduce the effective tax rate

18,600

Accrued interest

1,900

Accrued penalties related to uncertain tax positions

1,100

Benefit for interest and penalties

100

Foreign

Operating Loss Carryforwards

Net operating loss carryforwards

6,600

Stock-based compensation tax deductions APIC NOL

300

U.S. federal

Operating Loss Carryforwards

Net operating loss carryforwards

119,300

Stock-based compensation tax deductions APIC NOL

104,700

Reduction in income tax payable

$ 500

[1]	Our provision for income taxes provided a net benefit of $54.0 million in fiscal 2011, due to the reversal of a significant portion of our U.S. valuation allowance in the fourth quarter of fiscal 2011. See Note 8 to our Consolidated Financial Statements, "Income Taxes," for further information.

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Operating Leases
Rent expense	$ 6,700	$ 6,300	$ 6,700
Standby letters of credit	500
Gross Payments
2014	6,857
2015	5,038
2016	2,686
2017	461
Total	15,042
Scheduled Sublease Payments
2014	163
2015	163
2016	163
2017	14
Total	503
Net Payments
2014	6,694
2015	4,875
2016	2,523
2017	447
Total	$ 14,539

Commitments and Contingencies (Details 2) $ in Millions	Apr. 30, 2004 USD ($)	Jun. 30, 2013 item
Legal Matters
Amount of damages sought \| $	$ 5.0
Matters that might have a material adverse effect on financial position, results of operations or cash flows \| item		0

The value (monetary amount) of the award the plaintiff seeks in the legal matter.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14557-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14326-108349

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 11
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.