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SUPPORTSOFT, INC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 1. Organization and Summary of Significant Accounting Policies (Continued)
Sales by the Company to customers in different geographic areas, expressed as a percentage of revenue, for the periods ended were:
Year Ended December 31,
2007
2006
2005
Americas 78% 78% 80%
Asia Pacific 3 1 1
Europe 19 21 19
Total 100% 100% 100%
We had sales to one customer that represented greater than 10% of our total revenue for the year ended December 31, 2007. That customer represented 18%
of total revenue. No single customer represented greater than 10% of total revenue for the years ended December 31, 2006 and 2005.
Recent Accounting Pronouncements
In September 2006, the FASB issued SFAS No. 157,Fair Value Measurements, which defines fair value, provides a framework for measuring fair value,
and expands the disclosures required for fair value measurements. SFAS No. 157 applies to other accounting pronouncements that require fair value
measurements; it does not require any new fair value measurements. SFAS No. 157 is effective for fiscal years beginning after November 15, 2007 and is
required to be adopted by us in the first quarter of fiscal 2008. Although the Company will continue to evaluate the application of SFAS No. 157, management
does not currently believe adoption will have a material impact on the Company's results of operations or financial position.
In February 2007, the FASB issued SFAS No. 159, "The Fair Value Option for Financial Assets and Financial Liabilities". SFAS No. 159 permits
companies to choose to measure certain financial instruments and certain other items at fair value. The standard requires that unrealized gains and losses on items
for which the fair value option has been elected be reported in earnings. SFAS No. 159 is effective for the Company beginning in the first quarter of fiscal year
2008, although earlier adoption is permitted. The Company is currently evaluating the impact of adopting SFAS No. 159 on its consolidated financial statements.
In December 2007 the FASB issued SFAS No. 141 (revised 2007), "Business Combinations." SFAS No. 141R will significantly change the accounting for
business combinations in a number of areas, including the measurement of assets and liabilities acquired and the treatment of contingent consideration,
contingencies, acquisition costs, in-process research and development and restructuring costs. In addition, under SFAS No. 141R, changes in deferred tax asset
valuation allowances and acquired income tax uncertainties in a business combination after the measurement period will affect the income tax provision. SFAS
No. 141R is effective for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning after
December 15, 2008, which means that it will be effective for our fiscal year beginning January 1, 2009. Early adoption is prohibited. The Company is currently
evaluating the impact of adopting SFAS No. 141 on its consolidated financial statements.
66
Source: SUPPORTSOFT INC, 10-K, March 13, 2008