UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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Washington, DC 20549
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FORM 8-K
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CURRENT REPORT
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Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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August 14, 2019
Date
of report (Date of earliest event reported)
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SUPPORT.COM, INC.
(Exact
Name of Registrant as Specified in Charter)
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Delaware
(State
or Other
Jurisdiction
of
Incorporation)
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000-30901
(Commission
File No.)
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94-3282005
(I.R.S.
Employer Identification No.)
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1521 Concord Pike (US 202), Suite 301
Wilmington, DE 19803
(Address
of Principal Executive Offices) (Zip Code)
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(650) 556-9440
(Registrant’s
telephone number, including area code)
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N/A
(Former
Name or Former Address, if Changed Since Last Report)
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SUPPORT.COM, INC.
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By:
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/s/ Richard
Bloom
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Name:
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Richard Bloom
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Title:
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President and Chief Executive Officer
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Exhibit No.
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Description
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Press Release of the Company, dated August 14, 2019
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June
30,
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December
31,
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2019
(1)
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2018
(2)
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Assets
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Current
assets:
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Cash, cash
equivalents and short-term investments
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$43,246
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$49,649
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Accounts
receivable, net
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11,571
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12,292
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Prepaid expenses
and other current assets
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603
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999
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Total
current assets
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55,420
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62,940
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Property and
equipment, net
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590
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703
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Intangible assets,
net
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250
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250
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Right of Use
assets
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144
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-
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Other
assets
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712
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707
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Total
assets
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$57,116
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$64,600
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Liabilities
and Stockholders' Equity
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Current
liabilities:
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Accounts payable
and accrued compensation
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$3,556
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$3,791
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Other accrued
liabilities
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1,050
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978
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Accrued legal
settlement
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-
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10,000
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Short-term lease
liability
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138
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-
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Short-term deferred
revenue
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1,210
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1,135
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Total
current liabilities
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5,954
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15,904
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Long-term lease
liability
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7
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-
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Other long-term
liabilities
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808
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800
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Total
liabilities
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6,769
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16,704
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Stockholders'
equity:
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Common
stock
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2
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2
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Additional
paid-in-capital
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268,963
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268,794
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Treasury
stock
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(5,297)
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(5,297)
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Accumulated other
comprehensive loss
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(2,321)
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(2,507)
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Accumulated
deficit
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(211,000)
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(213,096)
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Total
stockholders' equity
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50,347
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47,896
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Total
liabilities and stockholders' equity
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$57,116
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$64,600
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Note 1: Amounts are subject to
completion of management’s customary closing and review
procedures.
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Note 2: Derived from audited
consolidated financial statements for the year ended Decembeer 31,
2018.
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Three
Months Ended
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Six Months
Ended
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June 30, 2019
(1)
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March 31,
2019
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June 30,
2018
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June 30,
2019
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June 30,
2018
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Revenue:
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Services
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$15,508
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$16,864
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$16,220
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$32,372
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$31,420
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Software and
other
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1,188
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1,200
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1,248
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2,388
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2,570
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Total
revenue
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16,696
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18,064
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17,468
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34,760
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33,990
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Cost
of revenue:
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Cost of
services
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12,686
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13,798
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14,462
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26,484
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28,573
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Cost of software
and other
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38
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54
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46
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92
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101
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Total
cost of revenue
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12,724
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13,852
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14,508
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26,576
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28,674
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Gross
profit
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3,972
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4,212
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2,960
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8,184
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5,316
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Operating
expenses:
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Research and
development
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915
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749
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681
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1,664
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1,392
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Sales and
marketing
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438
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392
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409
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830
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959
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General and
administrative
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2,090
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1,896
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1,677
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3,986
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3,823
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Total
operating expenses
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3,443
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3,037
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2,767
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6,480
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6,174
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Income
(loss) from operations
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529
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1,175
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193
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1,704
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(858)
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Interest income and
other, net
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255
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296
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230
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551
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435
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Income
(loss) before income taxes
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784
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1,471
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423
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2,255
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(423)
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Income
tax provision (benefit)
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131
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28
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27
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159
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(53)
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Net
income (loss)
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$653
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$1,443
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$396
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$2,096
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$(370)
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Net
earnings (loss) per share
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Basic
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$0.03
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$0.08
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$0.02
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$0.11
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$(0.02)
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Diluted
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$0.03
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$0.08
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$0.02
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$0.11
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$(0.02)
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Shares
used in computing per share amounts
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Basic
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18,962
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18,955
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18,765
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18,959
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18,751
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Diluted
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19,018
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19,004
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18,947
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19,010
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18,751
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