Question-and-Answer Session
Operator
(Operator Instructions) The first question comes from the line of Don McKernan – Landoak Securities.
Don McKernan – Landoak Securities
I want to go back over the bookings in the quarter. You said it was $5.2 million? Could you give me that break down again?
Todd Wille
The bookings I believe were $4.7 million and the backlog, so the carry in backlog and new bookings less revenue was $5.2 million going out of the quarter.
Don McKernan – Landoak Securities
Then did they split it up amongst Composer?
Todd Wille
That is all in Composer Solutions.
Don McKernan – Landoak Securities
When does the new Q product launch?
Todd Wille
End of this month.
Don McKernan – Landoak Securities
Regarding AXS-One you had to pay down some payables. I guess there was quite a bit of that to take care of. All that is current? There are no lingering issues there?
Todd Wille
I would say a vast majority of it. Yes. We have got it caught up. There was a tremendous amount of payables that we assumed. We knew about it and expected it. We have dealt with those. Now we are pretty much back to operations as normal.
Don McKernan – Landoak Securities
What was something about $700,000 in Q1? I didn’t catch that. What was that?
Todd Wille
The large OEM license we signed towards the end of July was a multimillion dollar opportunity and we were able to record $700,000 of software licenses in the month of July. The balance of that will be in the third quarter we expect.
Don McKernan – Landoak Securities
It sounds like things are picking up. The first quarter was what it was but congratulations on all the new stuff going forward.
Operator
The next question comes from the line of [Marcel Hertz] – [Hertz] Capital Management.
[Marcel Hertz] – [Hertz] Capital Management
What kind of quarterly SG&A expense run rate are you targeting once you have AXS-One fully integrated?
Todd Wille
That is an excellent question. I don’t know if I have a really good answer for you yet. We are still working on that model. As you can see from our numbers SG&A was pretty significant here in the first quarter. We believe we can certainly work on taking that number down. It goes up automatically because we will have the AXS-One costs in there for three months in the second quarter versus only one month in the first quarter. We will be able to then eliminate all the transition costs and the other deal costs. So it will be down we believe over time and certainly by the second half of the year is our expectation.
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