8-K

United States

Securities and Exchange Commission

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 8, 2007

Clarus Corporation

(Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation) 0-24277 (Commission File Number) 58-1972600 (IRS Employer Identification Number)

One Landmark Square, 22nd Floor, Stamford Connecticut (Address of principal executive offices) 06901 (Zip Code)

Registrant’s telephone number, including area code: (203) 428-2000

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On August 8, 2007, the Registrant issued an earnings press release announcing financial results for the second quarter ended June 30, 2007. A copy of the earnings press release is furnished as Exhibit 99.1 and incorporated herein by reference.

The earnings press release contains the non-GAAP financial measure, gross cash per share because the Registrant believes that it is useful to investors assessing the extent of the Registrant’s assets available for redeployment. The Registrant has provided a reconciliation within the earnings release of the non-GAAP financial gross cash per share to the most directly comparable GAAP financial measure. The Registrant’s management, however, cannot provide any assurance that the above-referenced non-GAAP financial measure is comparable to similarly titled financial measures presented by other publicly-traded companies. The non-GAAP financial measure described above should be considered in addition to, but not as a substitute for, measures of financial performance prepared in accordance with GAAP that are presented in the earnings release.

The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.
	Exhibit	Description
	99.1	Press Release dated August 8, 2007, with respect to the Registrant's financial results for the quarter ended June 30, 2007 (furnished only).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 8, 2007
	CLARUS CORPORATION
	By:	/s/Warren B. Kanders
Name:		Warren B. Kanders,
Title:		Executive Chairman of the Board of Directors (Principal Executive Officer)

	By:	/s/Philip A. Baratelli
Name:		Philip A. Baratelli
Title:		Chief Financial Officer (Principal Financial Officer)

EXHIBIT INDEX

Exhibit	Description
99.1	Press Release dated August 8, 2007, with respect to the Registrant's financial results for the quarter ended June 30, 2007 (furnished only).

EX-99.1

FOR IMMEDIATE RELEASE

CONTACT

Philip Baratelli

Chief Financial Officer

Clarus Corporation

(203) 428-2000

pbaratelli@claruscorp.com

Clarus Announces Second Quarter 2007 Results

STAMFORD, CONNECTICUT — August 8, 2007 — Clarus Corporation (OTC:CLRS.PK) today announced financial results for the quarter ended June 30, 2007. Clarus reported no revenues for the quarters ended June 30, 2007 and 2006, respectively. Net income for the second quarter of 2007 increased $105,000 to $81,000 or $0.00 per diluted share compared to a net loss of $24,000 or $0.00 per diluted share during the comparable period of 2006. The increase in net income was primarily a result of a $100,000 reduction in transaction expenses, a $85,000 increase in interest income due to higher interest rates on our cash, cash equivalents and marketable securities partially offset by an $80,000 increase in general and administrative costs. Prior year transaction expenses relate to an acquisition process that terminated without Clarus consummating the acquisition and include the costs incurred during due diligence and negotiation of potential acquisitions such as legal, accounting and other professional fees and related expenses.

As of June 30, 2007, Clarus’ cash, cash equivalents and marketable securities were $85.3 million, (or $4.96 gross cash per share) compared to $84.4 million as of December 31, 2006. Gross cash per share at June 30, 2007 equals cash, cash equivalents and marketable securities of $85.3 million divided by 17.2 million common shares outstanding. Clarus has provided this non-GAAP measure because it believes that it is useful to investors assessing the extent of Clarus’ assets available for redeployment. Clarus is unaware of any comparable GAAP measure.

Clarus estimates that it has available net operating loss, research and experimentation credit and alternative minimum tax credit carryforwards for U.S. federal income tax purposes of approximately $222.9 million, $1.3 million and $53,000, respectively, which expire in varying amounts between 2009 and 2026, after application of the limitation under Section 382 of the Internal Revenue Code. Of the approximately $222.9 million of net operating loss carryforwards available to offset taxable income, approximately $206.4 million does not expire until 2020 or later, subject to compliance with Section 382 of the Internal Revenue Code. Clarus also has capital loss carryforwards of $14.0 million which expire in 2007 and 2008.

Clarus does not currently intend to hold conference calls to discuss quarterly earnings releases unless and until it consummates an acquisition in connection with its redeployment strategy. At such time, Clarus plans to resume holding quarterly conference calls to review earnings and operating performance.

Clarus, formerly a provider of e-commerce business solutions, is seeking to redeploy its assets and use its substantial cash, cash equivalent assets and marketable securities to enhance stockholder value.

______________

This press release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Exchange Act of 1934. Information in this release includes Clarus' beliefs, expectations, intentions and strategies regarding Clarus, its future and its products and services. Assumptions relating to the forward-looking statements involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risks including our inability to execute successfully our planned effort to redeploy our assets to enhance stockholder value, the unavailability of our net operating loss carry forward, and that the unaudited financial information provided in this press release may be adjusted as a result of the year end audit. Clarus cannot guarantee its future performance. All forward-looking statements contained in this release are based on information available to Clarus as of the date of this release and Clarus assumes no obligation to update the forward-looking statements contained herein.

For further information regarding the risks and uncertainties in connection with Clarus' business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Clarus' filings with the Securities and Exchange Commission, including but not limited to, its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained at our web site at http://www.claruscorp.com or the SEC's web site at http://www.sec.gov.

CLARUS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)

	JUNE 30,			DECEMBER 31,
	2007			2006
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	14,246		$	1,731
Marketable securities		71,057			82,634
Interest receivable		87			402
Prepaids and other current assets		312			207
Total current assets		85,702			84,974
PROPERTY AND EQUIPMENT, NET		1,555			1,699
TOTAL ASSETS	$	87,257		$	86,673
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	$	471		$	680
Total current liabilities		471			680
LONG-TERM LIABILITIES:
Deferred rent		310			277
Total liabilities		781			957
STOCKHOLDERS' EQUITY:
Preferred stock, $.0001 par value; 5,000,000 shares authorized; none issued		—			—
Common stock, $.0001 par value; 100,000,000 shares authorized;17,241,747 and 17,188,622 shares issued and 17,166,747 and 17,113,622 outstanding in 2007 and 2006, respectively		2			2
Additional paid-in capital		368,447			367,945
Accumulated deficit		(281,955	)		(282,238	)
Treasury stock, at cost		(2	)		(2	)
Accumulated other comprehensive (loss) income		(16	)		9
Total stockholders' equity		86,476			85,716
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	87,257		$	86,673

CLARUS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

	THREE MONTHS						SIX MONTHS
	ENDED JUNE 30,						ENDED JUNE 30,
	2007			2006			2007			2006
REVENUES:	$	--		$	--		$	--		$	--
Total revenues		--			--			--			--
OPERATING EXPENSES:
General and administrative		899			826			1,683			1,707
Transaction costs		8			108			8			1,388
Depreciation		91			85			181			173
Total operating expenses		998			1,019			1,872			3,268
OPERATING LOSS		(998	)		(1,019	)		(1,872	)		(3,268	)
OTHER INCOME(EXPENSE)		--			1			(1	)		--
INTEREST INCOME		1,079			994			2,156			1,862
NET INCOME (LOSS)	$	81		$	(24	)	$	283		$	(1,406	)
Income (loss) per common share:
Basic	$	0.00		$	0.00		$	0.02		$	(0.08	)
Diluted	$	0.00		$	0.00		$	0.02		$	(0.08	)
Weighted average shares outstanding:
Basic		16,659			16,614			16,640			16,613
Diluted		17,156			16,614			17,078			16,613

CLARUS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

(IN THOUSANDS, EXCEPT SHARE AMOUNTS)

	SIX MONTHS
	ENDED JUNE 30,
	2007			2006
OPERATING ACTIVITIES:
Net income (loss)	$	283		$	(1,406	)
Adjustments to reconcile net income (loss) to net cash used in Operating activities:
Depreciation on property and equipment		181			173
Amortization of deferred employee compensation		134			148
Amortization of discount and premium on securities, net		(1,489	)		1,927
Changes in operating assets and liabilities:
Decrease (increase) in interest receivable, prepaids and other current assets		210			(105	)
Decrease in accounts payable and accrued liabilities		(209	)		(1,191	)
Increase in deferred rent		33			36
Decrease in deposits and other long-term assets		--			956
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES		(857	)		538
INVESTING ACTIVITIES:
Purchases of marketable securities		(71,195	)		(77,257	)
Proceeds from maturity of marketable securities		84,236			59,735
Sale of property and equipment		2			--
Purchase of property and equipment		(39	)		(4	)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES		13,004			(17,526	)
FINANCING ACTIVITIES:
Proceeds from the exercises of stock options		368			--
NET CASH PROVIDED BY FINANCING ACTIVITIES		368			--
CHANGE IN CASH AND CASH EQUIVALENTS		12,515			(16,988	)
CASH AND CASH EQUIVALENTS, Beginning of Period		1,731			23,270
CASH AND CASH EQUIVALENTS, End of Period	$	14,246		$	6,282
SUPPLEMENTAL DISCLOSURE:
Cash paid for franchise and property taxes	$	320		$	418