View Filing Data

Document and Entity Information - shares	3 Months Ended
Jun. 30, 2012	Jul. 25, 2012
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2012
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1
Trading Symbol	CVLT
Entity Registrant Name	COMMVAULT SYSTEMS INC
Entity Central Index Key	0001169561
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		44,949,576

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2012	Mar. 31, 2012
Current assets:
Cash and cash equivalents	$ 318,135	$ 297,088
Short-term investments	1,948	3,146
Trade accounts receivable, less allowance for doubtful accounts of $99 at June 30, 2012 and $97 at March 31, 2012	56,524	67,793
Prepaid expenses and other current assets	11,843	12,606
Deferred tax assets, net	14,626	14,717
Total current assets	403,076	395,350
Deferred tax assets, net	23,508	23,861
Property and equipment, net	9,546	8,184
Other assets	4,546	5,293
Total assets	440,676	432,688
Current liabilities:
Accounts payable	2,209	1,847
Accrued liabilities	35,583	45,888
Deferred revenue	119,689	125,314
Total current liabilities	157,481	173,049
Deferred revenue, less current portion	24,328	22,059
Other liabilities	7,579	7,596
Stockholders' equity:
Preferred stock, $0.01 par value: 50,000 shares authorized, no shares issued and outstanding at June 30, 2012 and March 31, 2012
Common stock, $0.01 par value: 250,000 shares authorized, 44,891 shares and 44,594 shares issued and outstanding at June 30, 2012 and March 31, 2012, respectively	449	446
Additional paid-in capital	332,136	320,438
Accumulated deficit	(81,014)	(91,139)
Accumulated other comprehensive income (loss)	(283)	239
Total stockholders' equity	251,288	229,984
Total liabilities and stockholders' equity	$ 440,676	$ 432,688

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2012	Mar. 31, 2012
Allowance for doubtful trade accounts receivable	$ 99	$ 97
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000	50,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	250,000	250,000
Common stock, shares issued	44,891	44,594
Common stock, shares outstanding	44,891	44,594

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Revenues:
Software	$ 54,235	$ 43,801
Services	57,032	47,726
Total revenues	111,267	91,527
Cost of revenues:
Software	678	617
Services	14,612	11,426
Total cost of revenues	15,290	12,043
Gross margin	95,977	79,484
Operating expenses:
Sales and marketing	56,387	49,758
Research and development	10,951	9,271
General and administrative	11,090	9,417
Depreciation and amortization	1,133	1,025
Income from operations	16,416	10,013
Interest expense		(26)
Interest income	236	165
Income before income taxes	16,652	10,152
Income tax expense	6,527	3,113
Net income	$ 10,125	$ 7,039
Net income per common share:
Basic	$ 0.23	$ 0.16
Diluted	$ 0.21	$ 0.15
Weighted average common shares outstanding:
Basic	44,761	44,171
Diluted	47,582	47,268

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Net income	$ 10,125	$ 7,039
Other comprehensive loss:
Foreign currency translation adjustment	(522)	(48)
Comprehensive income	$ 9,603	$ 6,991

- Definition

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.

+ References + Details

- Definition

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

+ References

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+ Details

Consolidated Statement of Stockholders' Equity - 3 months ended Jun. 30, 2012 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid - In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning Balance (in shares) at Mar. 31, 2012		44,594
Beginning Balance at Mar. 31, 2012	$ 229,984	$ 446	$ 320,438	$ (91,139)	$ 239
Stock-based compensation	5,928		5,928
Tax benefits relating to stock-based payments	3,022		3,022
Exercise of common stock options and vesting of restricted stock units (in shares)		297
Exercise of common stock options and vesting of restricted stock units	2,751	$ 3	2,748
Net income	10,125			10,125
Foreign currency translation adjustment	(522)				(522)
Ending Balance (in shares) at Jun. 30, 2012		44,891
Ending Balance at Jun. 30, 2012	$ 251,288	$ 449	$ 332,136	$ (81,014)	$ (283)

- Definition

This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".

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+ Details

- Definition

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

+ References

+ Details

- Definition

Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.

+ References + Details

- Definition

Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.

+ References + Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities
Net income	$ 10,125	$ 7,039
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,160	1,063
Noncash stock-based compensation	5,928	4,451
Excess tax benefits from stock-based compensation	(3,060)	(1,602)
Deferred income taxes	237	(319)
Changes in operating assets and liabilities:
Trade accounts receivable	10,304	14,487
Prepaid expenses and other current assets	686	(1,312)
Other assets	664	(473)
Accounts payable	384	527
Accrued liabilities	(7,385)	2,360
Deferred revenue	(1,240)	4,516
Other liabilities	106	356
Net cash provided by operating activities	17,909	31,093
Cash flows from investing activities
Purchase of short-term investments	(1,948)	(3,146)
Proceeds from maturity of short-term investments	3,146	1,150
Purchase of property and equipment	(1,681)	(1,518)
Net cash used in investing activities	(483)	(3,514)
Cash flows from financing activities
Proceeds from the exercise of stock options	2,751	4,202
Excess tax benefits from stock-based compensation	3,060	1,602
Net cash provided by financing activities	5,811	5,804
Effects of exchange rate - changes in cash	(2,190)	458
Net increase in cash and cash equivalents	21,047	33,841
Cash and cash equivalents at beginning of period	297,088	217,170
Cash and cash equivalents at end of period	$ 318,135	$ 251,011

Summary of Significant Accounting Policies

3 Months Ended

Jun. 30, 2012

Summary of Significant Accounting Policies

3. Summary of Significant Accounting Policies

There have been no significant changes in the Company’s accounting policies during the three months ended June 30, 2012 as compared to the significant accounting policies described in its Annual Report on Form 10-K for the year ended March 31, 2012. A summary of the Company’s significant accounting policies is disclosed below.

Use of Estimates

The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make judgments and estimates that affect the amounts reported in the Company’s consolidated financial statements and the accompanying notes. The Company bases its estimates and judgments on historical experience and on various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities reported in the Company’s balance sheets and the amounts of revenues and expenses reported for each of its periods presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for revenue recognition, allowance for doubtful accounts, income taxes and related reserves and stock-based compensation. Actual results could differ from those estimates.

Revenue Recognition

The Company derives revenues from two primary sources: software licenses and services. Services include customer support, consulting, assessment and design services, installation services and training. A typical sales arrangement includes both of these sources.

For sales arrangements involving multiple elements, the Company recognizes revenue using the residual method. Under the residual method, the Company allocates and defers revenue for the undelivered elements based on fair value and recognizes the difference between the total arrangement fee and the amount deferred for the undelivered elements as revenue. The determination of fair value of the undelivered elements in multiple-element arrangements is based on the price charged when such elements are sold separately, which is commonly referred to as vendor-specific objective-evidence, or VSOE.

The Company’s software licenses typically provide for a perpetual right to use the Company’s software and are sold on a per-copy basis, on a capacity basis or as site licenses. Software licenses sold on a capacity basis provide the customer with unlimited licenses of specified software products based on a defined level of terabytes of data under management. Site licenses give the customer the additional right to deploy the software on a limited basis during a specified term. The Company recognizes software revenue through direct sales channels upon receipt of a purchase order or other persuasive evidence and when all other basic revenue recognition criteria are met as described below. The Company recognizes software revenue through all indirect sales channels on a sell-through model. A sell-through model requires that the Company recognize revenue when the basic revenue recognition criteria are met as described below and these channels complete the sale of the Company’s software products to the end-user. Revenue from software licenses sold through an original equipment manufacturer partner is recognized upon the receipt of a royalty report or purchase order from that original equipment manufacturer partner.

Services revenue includes revenue from customer support and other professional services. Customer support includes software updates on a when-and-if-available basis, telephone support, integrated web-based support and bug fixes or patches. Customer support revenue is recognized ratably over the term of the customer support agreement, which is typically one year. To determine the price for the customer support element when sold separately, the Company primarily uses historical renewal rates. Historical renewal rates are supported by performing an analysis in which the Company segregates its customer support renewal contracts into different classes based on specific criteria including, but not limited to, the dollar amount of the software purchased, the level of customer support being provided and the distribution channel. As a result of this analysis, the Company has concluded that it has established VSOE for the different classes of customer support when the support is sold as part of a multiple-element sales arrangement. The Company’s determination of fair value for customer support has not changed for the periods presented.

The Company’s other professional services include consulting, assessment and design services, installation services and training. Other professional services provided by the Company are not mandatory and can also be performed by the customer or a third-party. In addition to a signed purchase order, the Company’s consulting, assessment and design services and installation services are, in some cases, evidenced by a Statement of Work, which defines the specific scope of such services to be performed when sold and performed on a stand-alone basis or included in multiple-element sales arrangements. Revenues from consulting, assessment and design services and installation services are based upon a daily or weekly rate and are recognized when the services are completed. Training includes courses taught by the Company’s instructors or third-party contractors either at one of the Company’s facilities or at the customer’s site. Training fees are recognized after the training course has been provided. Based on the Company’s analysis of such other professional services transactions sold on a stand-alone basis, the Company has concluded it has established VSOE for such other professional services when sold in connection with a multiple-element sales arrangement. The Company generally performs its other professional services within 90 days of entering into an agreement. The Company’s determination of fair value for other professional services has not changed for the periods presented.

The Company has analyzed all of the undelivered elements included in its multiple-element sales arrangements and determined that VSOE of fair value exists to allocate revenues to services. Accordingly, assuming all basic revenue recognition criteria are met, software revenue is recognized upon delivery of the software license using the residual method.

The Company considers the four basic revenue recognition criteria for each of the elements as follows:

•

Persuasive evidence of an arrangement with the customer exists. The Company’s customary practice is to require a purchase order and, in some cases, a written contract signed by both the customer and the Company, or other persuasive evidence that an arrangement exists prior to recognizing revenue related to an arrangement.

•

Delivery or performance has occurred. The Company’s software applications are either physically or electronically delivered to customers with standard transfer terms such as FOB shipping point. Software and/or software license keys for add-on orders or software updates are typically delivered in an electronic format. If products that are essential to the functionality of the delivered software in an arrangement have not been delivered, the Company does not consider delivery to have occurred. Services revenue is recognized when the services are completed, except for customer support, which is recognized ratably over the term of the customer support agreement, which is typically one year.

•

Vendor’s fee is fixed or determinable. The fee customers pay for software applications, customer support and other professional services is negotiated at the outset of a sales arrangement. The fees are therefore considered to be fixed or determinable at the inception of the arrangement.

•

Collection is probable. Probability of collection is assessed on a customer-by-customer basis. Each new customer undergoes a credit review process to evaluate its financial position and ability to pay. If the Company determines from the outset of an arrangement that collection is not probable based upon the review process, revenue is recognized at the earlier of when cash is collected or when sufficient credit becomes available, assuming all of the other basic revenue recognition criteria are met.

The Company’s sales arrangements generally do not include acceptance clauses. However, if an arrangement does include an acceptance clause, revenue for such an arrangement is deferred and recognized upon acceptance. Acceptance occurs upon the earliest of receipt of a written customer acceptance, waiver of customer acceptance or expiration of the acceptance period.

Net Income per Common Share

Basic net income per common share is computed by dividing net income by the weighted average number of common shares during the period. Diluted net income per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and the vesting of restricted stock units. The dilutive effect of such potential common shares is reflected in diluted earnings per share by application of the treasury stock method.

The following table sets forth the computation of basic and diluted net income per common share:


	Three Months Ended June 30,
	2012		2011
Net income	$	10,125	$	7,039

Basic net income per common share:
Basic weighted average shares outstanding		44,761		44,171

Basic net income per common share	$	0.23	$	0.16

Diluted net income per common share:
Basic weighted average shares outstanding		44,761		44,171
Dilutive effect of stock options and restricted stock units		2,821		3,097

Diluted weighted average shares outstanding		47,582		47,268

Diluted net income per common share	$	0.21	$	0.15

The diluted weighted average shares outstanding in the table above exclude outstanding stock options and restricted stock units totaling approximately 1,096 and 260 for the three months ended June 30, 2012 and 2011, respectively, because the effect would have been anti-dilutive.

Cash and Cash Equivalents

The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. As of June 30, 2012, the Company’s cash and cash equivalents balance consisted primarily of money market funds.

Concentration of Credit Risk

The Company grants credit to customers in a wide variety of industries worldwide and generally does not require collateral. Credit losses relating to these customers have been minimal.

Sales through the Company’s reseller and original equipment manufacturer agreements with Dell totaled 22% and 21% of total revenues for the three months ended June 30, 2012 and 2011, respectively. Dell accounted for 26% and 25% of accounts receivable as of June 30, 2012 and March 31, 2012, respectively. Sales through the Company’s distribution agreement with Arrow Enterprise Computing Solutions, Inc. (“Arrow”) totaled 27% and 25% of total revenues for the three months ended June 30, 2012 and 2011, respectively. Arrow accounted for approximately 27% and 30% of total accounts receivable as of June 30, 2012 and March 31, 2012.

Fair Value of Financial Instruments

The carrying amounts of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their fair values due to the short-term maturity of these instruments. As of June 30, 2012, the Company’s short-term investments balance consisted of certificates of deposit.

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for such asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company uses the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The following table summarizes the composition of the Company’s financial assets measured at fair value on a recurring basis at June 30, 2012 and March 31, 2012:


	June 30, 2012		March 31, 2012
Cash and cash equivalents:
Money market funds	$	246,390	$	232,037

All of the Company’s financial instruments in the table above were classified and measured as Level I instruments.

Deferred Revenue

Deferred revenues represent amounts collected from, or invoiced to, customers in excess of revenues recognized. This results primarily from the billing of annual customer support agreements, as well as billings for other professional services fees that have not yet been performed by the Company and billings for license fees that are deferred due to one of the revenue recognition criteria not being met. The value of deferred revenues will increase or decrease based on the timing of invoices and recognition of software revenue. The Company expenses internal direct and incremental costs related to contract acquisition and origination as incurred.

Deferred revenue consists of the following:


	June 30, 2012		March 31, 2012
Current:
Deferred software revenue	$	826	$	3,764
Deferred services revenue		118,863		121,550

	$	119,689	$	125,314

Non-current:
Deferred services revenue	$	24,328	$	22,059

Accounting for Stock-Based Compensation

The Company utilizes the Black-Scholes pricing model to determine the fair value of non-qualified stock options on the dates of grant. Restricted stock units are measured based on the fair market values of the underlying stock on the dates of grant. The Company recognizes stock-based compensation using the straight-line method for all stock awards.

The Company classifies benefits of tax deductions in excess of the compensation cost recognized (excess tax benefits) as a financing item cash inflow with a corresponding operating cash outflow. For the three months ended June 30, 2012 and 2011, the Company includes $3,060 and $1,602, respectively, as a financing cash inflow.

Share Repurchases

The Company considers all shares repurchased as cancelled shares restored to the status of authorized but unissued shares on the trade date. The aggregate purchase price of the shares of the Company’s common stock repurchased is reflected as a reduction to Stockholders’ Equity. The Company accounts for shares repurchased as an adjustment to common stock (at par value) with the excess repurchase price allocated between Additional Paid-in Capital and Accumulated Deficit. There were no stock repurchases during the three months ended June 30, 2012.

Foreign Currency Translation

The functional currencies of the Company’s foreign operations are deemed to be the local country’s currency. Assets and liabilities of the Company’s international subsidiaries are translated at their respective period-end exchange rates, and revenues and expenses are translated at average currency exchange rates for the period. The resulting balance sheet translation adjustments are included in Comprehensive Income and are reflected as a separate component of Stockholders’ Equity through Accumulated Other Comprehensive Income (Loss).

Foreign currency transaction gains and losses are recorded in “General and administrative” expenses in the Consolidated Statements of Operations. The Company recognized net foreign currency transaction gains (losses) of $66 in the three months ended June 30, 2012 and net foreign currency transaction gains (losses) of $(9) in the three ended June 30, 2011. The net foreign currency transaction gains and losses recorded in “General and administrative” expenses include settlement gains and losses on forward contracts disclosed below.

To date, the Company has selectively hedged its exposure to foreign currency transaction gains and losses on the balance sheet through the use of forward contracts, which were not designated as hedging instruments. The duration of forward contracts utilized for hedging the Company’s balance sheet exposure is generally one to three months. As of June 30, 2012 and March 31, 2012, the Company did not have any forward contracts outstanding. In the three months ended June 30, 2012, the Company recorded net realized losses of $167 in general and administrative expenses related to the settlement of forward exchange contracts. In the three months ended June 30, 2011, the Company recorded net realized losses of $19 in general and administrative expenses related to the settlement of a forward exchange contracts. In the future, the Company may enter into additional foreign currency-based hedging contracts to reduce its exposure to significant fluctuations in currency exchange rates on the balance sheet.

Impact of Recently Issued Accounting Standards

In June 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2011-05, Comprehensive Income (Topic 220) — Presentation of Comprehensive Income (“ASU 2011-05”), to require an entity to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate, but consecutive statements. ASU 2011-05 eliminates the option to present the components of other comprehensive income as part of the statement of equity. ASU 2011-05 became effective for the Company in its first quarter of fiscal 2013 and was applied retrospectively. There was no significant impact on the Company’s consolidated financial statements.

In December 2011, the FASB issued Accounting Standards Update No. 2011-12, Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income (“ASU 2011-12”), to defer the effective date of the specific requirement to present items that are reclassified out of accumulated other comprehensive income to net income alongside their respective components of net income and other comprehensive income.

Stock Plans

3 Months Ended

Jun. 30, 2012

Stock Plans

6. Stock Plans

As of June 30, 2012, the Company maintains two stock incentive plans, the 1996 Stock Option Plan (the “Plan”) and the 2006 Long-Term Stock Incentive Plan (the “LTIP”).

Under the Plan, the Company may grant non-qualified stock options to purchase 11,705 shares of common stock to certain officers and employees. Stock options are granted at the discretion of the Board and expire 10 years from the date of the grant. At June 30, 2012, there were 571 options available for future grant under the Plan.

The LTIP permits the grant of incentive stock options, non-qualified stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance stock awards and stock unit awards based on, or related to, shares of the Company’s common stock. On each April 1, the number of shares available for issuance under the LTIP is increased, if applicable, such that the total number of shares available for awards under the LTIP as of any April 1 is equal to 5% of the number of outstanding shares of the Company’s common stock on that April 1. As of June 30, 2012, approximately 2,291 shares were available for future issuance under the LTIP.

As of June 30, 2012, the Company has granted non-qualified stock options and restricted stock units under its stock incentive plans. Equity awards granted by the Company under its stock incentive plans generally vest quarterly over a four-year period, except that the shares that would otherwise vest quarterly over the first 12 months do not vest until the first anniversary of the grant. The Company anticipates that future grants under its stock incentive plans will continue to include both non-qualified stock options and restricted stock units.

The Company estimated the fair value of stock options granted using the Black-Scholes formula. The average expected life for the three months ended June 30, 2011 was determined according to the “simplified method”, which is the mid-point between the vesting date and the end of the contractual term. During fiscal 2013, the Company began incorporating its historical data into the expected term calculation for stock options granted. The Company is now able to demonstrate significant stock option exercise activity for options granted subsequent to its initial public offering to provide a reasonable basis for incorporating historical data into its expected term of future stock option grants. As a result, during the three months ended June 30, 2012, the Company’s calculation of expected term includes a combination of actual exercise data and an assumption on when the remaining outstanding options with similar characteristics will be exercised based on the Company’s historical data.

Expected volatility for the three months ended June 30, 2012 and 2011 was calculated based on a blended approach that included historical volatility of a peer group, the implied volatility of the Company’s traded options with a remaining maturity greater than six months and the historical realized volatility of the Company’s common stock from the date of its initial public offering to the respective stock option grant date. The risk-free interest rate is determined by reference to U.S. Treasury yield curve rates with a remaining term equal to the expected life assumed at the date of grant. Forfeitures are estimated based on the Company’s historical analysis of actual stock option forfeitures.

The assumptions used in the Black-Scholes option-pricing model are as follows:


	Three Months Ended June 30,
	2012	2011
Dividend yield	None	None
Expected volatility	45%-48%	42%-44%
Weighted average expected volatility	48%	43%
Risk-free interest rates	0.73%-0.85%	2.06%-2.56%
Expected life (in years)	4.8	6.3

The following table presents the stock-based compensation expense included in cost of services revenue, sales and marketing, research and development and general and administrative expenses for the three months ended June 30, 2012 and 2011.


	Three Months Ended June 30,
	2012		2011
Cost of services revenue	$	184	$	102
Sales and marketing		2,636		2,093
Research and development		624		475
General and administrative		2,484		1,781

Stock-based compensation expense	$	5,928	$	4,451

As of June 30, 2012, there was approximately $54,747 of unrecognized stock-based compensation expense, net of estimated forfeitures, related to non-vested stock option and restricted stock unit awards that is expected to be recognized over a weighted average period of 2.52 years. To the extent the actual forfeiture rate is different from what the Company has anticipated, stock-based compensation related to these awards will be different from the Company’s expectations.

The following summarizes the activity for the Company’s two stock incentive plans for the three months ended June 30, 2012:


Options	Number of Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding as of March 31, 2012		6,656		$	19.19
Options granted		18			52.90
Options exercised		(214	)		12.86
Options forfeited		(70	)		31.27
Options expired		(15	)		9.93

Outstanding as of June 30, 2012		6,375		$	19.39		6.03	$	192,609

Vested or expected to vest as of June 30, 2012		6,286		$	19.03		5.96	$	191,381

Exercisable as of June 30, 2012		4,085		$	11.94		4.62	$	153,694

The weighted average fair value of stock options granted was $21.54 per option during the three months ended June 30, 2012 and $17.38 per option during the three months ended June 30, 2011. The total intrinsic value of options exercised was $8,309 as of the three months ended June 30, 2012 and $9,224 during the three months ended June 30, 2011. The Company’s policy is to issue new shares upon exercise of options as the Company does not hold shares in treasury.

Restricted stock unit activity for the three months ended June 30, 2012 is as follows:


Non-vested Restricted Stock Units	Number of Awards			Weighted Average Grant Date Fair Value

Non-vested as of March 31, 2012		1,113		$	33.24
Awarded		28			51.32
Released		(83	)		23.83
Forfeited		(31	)		33.16

Non-vested as of June 30, 2012		1,027		$	34.39

- Definition

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.

+ References

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
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

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.

+ Details

Income Taxes

3 Months Ended

Jun. 30, 2012

Income Taxes

7. Income Taxes

Income Tax Expense

Income tax expense was $6,527 in the three months ended June 30, 2012 with effective tax rates of 39%. The effective rate in the three months ended June 30, 2012 is higher than the expected federal statutory rate of 35% primarily due to state income taxes and permanent differences in both the United States and foreign jurisdictions partially offset by income tax benefits from recording foreign tax credits and domestic production activities deductions.

The provision for income taxes for the three months ended June 30, 2011 was $3,113. The effective tax rate in the three months ended June 30, 2011 was 31%. The effective rate in the three months ended June 30, 2011 is lower than the expected federal statutory rate of 35% primarily due to reversing $1,611 of the Company’s valuation allowance against certain state research tax credits due to the passing of state laws in New Jersey as well as recording income tax benefits related to research and foreign tax credits, partially offset by state income taxes and permanent differences in both the United States and foreign jurisdictions.

Deferred Taxes

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting and the amount used for income tax purposes. The Company’s net deferred tax assets relate primarily to federal and state research tax credit carryforwards, stock-based compensation and foreign net operating loss carry forwards. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent that the Company believes recovery is not likely, the Company establishes a valuation allowance. In addition, the Company reviews the expected annual effective income tax rate and makes changes on a quarterly basis as necessary based on certain factors such as changes in forecasted annual income, changes to the actual and forecasted permanent book-to-tax differences, or changes resulting from the impact of a tax law change.

At June 30, 2012, the Company maintained valuation allowances totaling $1,420 against its deferred tax assets. Specifically, the Company has a valuation allowance of $1,343 against certain state research tax credits due to uncertainties related to the ability to utilize such state research tax credits before they expire. The Company based its valuation allowance on its estimates of taxable income by legal entity and the period over which its state research tax credits will be recoverable. In addition, the Company has a valuation allowance of $77 against foreign net operating loss carryforwards in a certain international jurisdiction. In assessing the need for a valuation allowance against its net operating loss carryforwards in such international jurisdiction, the Company considered projected future income as part of its analysis.

Unrecognized Tax Benefits

The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax regulations in each of its tax jurisdictions. The number of years with open tax audits varies depending on the tax jurisdiction. A number of years may lapse before a particular matter is audited and finally resolved. A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:


Balance at March 31, 2012	$	4,699
Additions for tax positions related to fiscal 2013		143
Additions for tax positions related to prior years		—
Settlements		—
Reductions related to the expiration of statutes of limitations		—
Foreign currency translation adjustment		(66	)

Balance at June 30, 2012	$	4,776

All of the Company’s unrecognized tax benefits at June 30, 2012 of $4,776, if recognized, would favorably affect the effective tax rate. Components of the reserve are classified as either current or long-term in the Consolidated Balance Sheet based on when the Company expects each of the items to be settled. Accordingly, the Company has recorded its unrecognized tax benefits of $4,776 and $4,699 and the related accrued interest and penalties of $786 and $784 in Other Liabilities on the Consolidated Balance Sheet at June 30, 2012 and March 31, 2012, respectively. Interest and penalties related to unrecognized tax benefits are recorded in income tax expense. In the three months ended June 30, 2012 and 2011, the Company recognized $29 and $30, respectively, of interest and penalties in the Consolidated Statement of Operations. The Company believes that it is reasonably possible that approximately $378 of the currently remaining unrecognized tax benefits and approximately $188 of related accrued interest and penalties may also be realized by the end of the fiscal year ending March 31, 2013 as a result of the lapse of the statute of limitations.

Other Tax Items

The Company conducts business globally and as a result, files income tax returns in the United States and in various state and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as the United States, Australia, Canada, Germany, Netherlands and United Kingdom. The Company’s income tax returns for CommVault Americas, Inc. for the fiscal years ended March 31, 2009 through March 31, 2011 are currently under audit by the State of New Jersey.

The following table summarizes the tax years in the Company’s major tax jurisdictions that remain subject to income tax examinations by tax authorities as of June 30, 2012. The years subject to income tax examination in the Company’s foreign jurisdictions cover the maximum time period with respect to these jurisdictions. Due to NOL carryforwards, in some cases the tax years continue to remain subject to examination with respect to such NOLs.


Tax Jurisdiction	Years Subject to Income Tax Examination
U.S. Federal		2001 - Present
New Jersey		2002 - Present
Foreign jurisdictions		2006 - Present

- Definition

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.

+ References

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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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.

+ Details

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Jun. 30, 2012

Use of Estimates

Use of Estimates

Revenue Recognition

Revenue Recognition

The Company considers the four basic revenue recognition criteria for each of the elements as follows:

•

Net Income per Common Share

Net Income per Common Share

The following table sets forth the computation of basic and diluted net income per common share:


	Three Months Ended June 30,
	2012		2011
Net income	$	10,125	$	7,039

Basic net income per common share:
Basic weighted average shares outstanding		44,761		44,171

Basic net income per common share	$	0.23	$	0.16

Diluted net income per common share:
Basic weighted average shares outstanding		44,761		44,171
Dilutive effect of stock options and restricted stock units		2,821		3,097

Diluted weighted average shares outstanding		47,582		47,268

Diluted net income per common share	$	0.21	$	0.15

Cash and Cash Equivalents

Cash and Cash Equivalents

Concentration of Credit Risk

Concentration of Credit Risk

The Company grants credit to customers in a wide variety of industries worldwide and generally does not require collateral. Credit losses relating to these customers have been minimal.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The following table summarizes the composition of the Company’s financial assets measured at fair value on a recurring basis at June 30, 2012 and March 31, 2012:


	June 30, 2012		March 31, 2012
Cash and cash equivalents:
Money market funds	$	246,390	$	232,037

All of the Company’s financial instruments in the table above were classified and measured as Level I instruments.

Deferred Revenue

Deferred Revenue

Deferred revenue consists of the following:


	June 30, 2012		March 31, 2012
Current:
Deferred software revenue	$	826	$	3,764
Deferred services revenue		118,863		121,550

	$	119,689	$	125,314

Non-current:
Deferred services revenue	$	24,328	$	22,059

Accounting for Stock-Based Compensation

Accounting for Stock-Based Compensation

Share Repurchases

Share Repurchases

Foreign Currency Translation

Foreign Currency Translation

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Jun. 30, 2012

Computation of Basic and Diluted Net Income Per Common Share

The following table sets forth the computation of basic and diluted net income per common share:


	Three Months Ended June 30,
	2012		2011
Net income	$	10,125	$	7,039

Basic net income per common share:
Basic weighted average shares outstanding		44,761		44,171

Basic net income per common share	$	0.23	$	0.16

Diluted net income per common share:
Basic weighted average shares outstanding		44,761		44,171
Dilutive effect of stock options and restricted stock units		2,821		3,097

Diluted weighted average shares outstanding		47,582		47,268

Diluted net income per common share	$	0.21	$	0.15

Financial Assets Measured At Fair Value On Recurring Basis

The following table summarizes the composition of the Company’s financial assets measured at fair value on a recurring basis at June 30, 2012 and March 31, 2012:


	June 30, 2012		March 31, 2012
Cash and cash equivalents:
Money market funds	$	246,390	$	232,037

Deferred Revenue

Deferred revenue consists of the following:


	June 30, 2012		March 31, 2012
Current:
Deferred software revenue	$	826	$	3,764
Deferred services revenue		118,863		121,550

	$	119,689	$	125,314

Non-current:
Deferred services revenue	$	24,328	$	22,059

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References + Details

Stock Plans (Tables)

3 Months Ended

Jun. 30, 2012

Schedule Of Stock Option Valuation Assumptions

The assumptions used in the Black-Scholes option-pricing model are as follows:


	Three Months Ended June 30,
	2012	2011
Dividend yield	None	None
Expected volatility	45%-48%	42%-44%
Weighted average expected volatility	48%	43%
Risk-free interest rates	0.73%-0.85%	2.06%-2.56%
Expected life (in years)	4.8	6.3

Stock-Based Compensation Expense


	Three Months Ended June 30,
	2012		2011
Cost of services revenue	$	184	$	102
Sales and marketing		2,636		2,093
Research and development		624		475
General and administrative		2,484		1,781

Stock-based compensation expense	$	5,928	$	4,451

Schedule Of Stock Option Activity

The following summarizes the activity for the Company’s two stock incentive plans for the three months ended June 30, 2012:


Options	Number of Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding as of March 31, 2012		6,656		$	19.19
Options granted		18			52.90
Options exercised		(214	)		12.86
Options forfeited		(70	)		31.27
Options expired		(15	)		9.93

Outstanding as of June 30, 2012		6,375		$	19.39		6.03	$	192,609

Vested or expected to vest as of June 30, 2012		6,286		$	19.03		5.96	$	191,381

Exercisable as of June 30, 2012		4,085		$	11.94		4.62	$	153,694

Schedule Of Restricted Stock Unit Activity

Restricted stock unit activity for the three months ended June 30, 2012 is as follows:


Non-vested Restricted Stock Units	Number of Awards			Weighted Average Grant Date Fair Value

Non-vested as of March 31, 2012		1,113		$	33.24
Awarded		28			51.32
Released		(83	)		23.83
Forfeited		(31	)		33.16

Non-vested as of June 30, 2012		1,027		$	34.39

- Definition

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.

+ References + Details

Summary Of Significant Accounting Policies - Additional Information (Detail) shares in Thousands, $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2012 USD ($) Day Year Month shares	Jun. 30, 2011 USD ($) shares	Mar. 31, 2012
Significant Accounting Policies [Line Items]
Sources of primary revenue	2
Length of customer support agreement - in years \| Year	1
Number of days for other professional services \| Day	90
Anti-dilutive securities exclude outstanding stock options and restricted stock units \| shares	1,096	260
Maturity of the Company's cash equivalents	3 months
Reduction of common stock and additional paid-in capital as result of common stock repurchases	$ 3,060	$ 1,602
Net foreign currency transaction gains (losses)	$ 66	(9)
Duration of forward contracts utilized for hedging, Minimum (in months) \| Month	1
Duration of forward contracts utilized for hedging, Maximum (in months) \| Month	3
Net realized losses related to settlement of forward exchange contracts recorded in general and administrative expenses	$ (167)	$ (19)
Dell
Significant Accounting Policies [Line Items]
Percentage of sales in relation to total revenues through Company's reseller and original equipment manufacturer agreement	22.00%	21.00%
Percentage of accounts receivable	26.00%		25.00%
Arrow
Significant Accounting Policies [Line Items]
Percentage of accounts receivable	27.00%		30.00%
Percentage of sales in relation to total revenues through Company's reseller agreement	27.00%	25.00%

Computation Of Basic And Diluted Net Income Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income	$ 10,125	$ 7,039
Basic weighted average shares outstanding	44,761	44,171
Basic net income per common share	$ 0.23	$ 0.16
Basic weighted average shares outstanding	44,761	44,171
Dilutive effect of stock options and restricted stock units	2,821	3,097
Diluted weighted average shares outstanding	47,582	47,268
Diluted net income per common share	$ 0.21	$ 0.15

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 18
-Article 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 36, 37, 38
-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 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-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 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 20
-Article 5

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 21
-Article 9

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References + Details

- Definition

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

+ References

+ Details

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References + Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-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 128
-Paragraph 8
-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 128
-Paragraph 171
-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 128
-Paragraph 40
-Subparagraph a
-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.

+ Details

Capitalization -Additional Information (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2012 USD ($) $ / shares shares	Mar. 31, 2012 $ / shares shares	Nov. 13, 2008
Class of Stock [Line Items]
Description of exercise entitlement of each right	Each Right, when exercisable, entitles the registered holder to purchase one one-thousandth of a share of Series A Junior Participating Preferred Stock, par value $0.01 per share, at a purchase price of eighty dollars per one one-thousandth of a share, subject to adjustment
Exercise Purchase price of preferred stock rights	$ 80
Number of rights declared as dividend distribution for each outstanding share of common stock			1
Preferred stock, shares authorized \| shares	50,000	50,000
Preferred stock, par value	$ 0.01	$ 0.01
Conditions under which rights become exercisable	The Rights will become exercisable following the tenth business day after (i) a person or group announces the acquisition of 15% or more of the Company's common stock or (ii) commencement of a tender or exchange offer, the consummation of which would result in ownership by the person or group of 15% or more of the Company's common stock
Redemption price of each Right	$ 0.001
Expiration date of Rights	Nov. 14, 2018
Common Stock Repurchased
Class of Stock [Line Items]
Value of Common Stock repurchased under the share repurchase program \| $	$ 117,157
Remaining value of common stock to be repurchased under the share repurchase program \| $	$ 52,843
Share Repurchase Program Expiration Date	Mar. 31, 2013
Common Stock Repurchased \| Maximum
Class of Stock [Line Items]
Maximum amount authorized for repurchase of common stock under the share repurchase program \| $	$ 170,000
Series A Junior Participating Preferred
Class of Stock [Line Items]
Preferred stock, shares authorized \| shares	150
Preferred stock, par value	$ 0.01

Stock Plans - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted, vesting period (in years)	1 year
Unrecognized stock-based compensation expense, net of estimated forfeitures	$ 54,747
Awards expected to be recognized over a weighted average period (in years)	2 years 6 months 7 days
Weighted average fair value of stock options granted per share	$ 21.54	$ 17.38
Total intrinsic value of options exercised	$ 8,309	$ 9,224
1996 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant non-qualified stock options	11,705
Expiration term of stock options granted at the discretion of board from the date of the grant (in years)	10 years
Options available for future grant	571
2006 Long-Term Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options available for future grant	2,291
Percentage of outstanding shares available for awards under the LTIP as of any April 1st	5.00%
Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted, vesting period (in years)	4 years

Activity For Company's Two Stock Incentive Plans (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2012 USD ($) $ / shares shares
Number of Options
Outstanding beginning balance \| shares	6,656
Options granted \| shares	18
Options exercised \| shares	(214)
Options forfeited \| shares	(70)
Options expired \| shares	(15)
Outstanding ending balance \| shares	6,375
Vested or expected to vest as of June 30, 2012 \| shares	6,286
Exercisable as of June 30, 2012 \| shares	4,085
Weighted- Average Exercise Price
Outstanding beginning balance \| $ / shares	$ 19.19
Options granted \| $ / shares	52.90
Options exercised \| $ / shares	12.86
Options forfeited \| $ / shares	31.27
Options expired \| $ / shares	9.93
Outstanding ending balance \| $ / shares	19.39
Vested or expected to vest as of June 30, 2012 \| $ / shares	19.03
Exercisable as of June 30, 2012 \| $ / shares	$ 11.94
Weighted- Average Remaining Contractual Term (Years)
Outstanding as of June 30, 2012	6 years 11 days
Vested or expected to vest as of June 30, 2012	5 years 11 months 16 days
Exercisable as of June 30, 2012	4 years 7 months 13 days
Aggregate Intrinsic Value
Outstanding Ending Balance \| $	$ 192,609
Vested or expected to vest as of June 30, 2012 \| $	191,381
Exercisable as of June 30, 2012 \| $	$ 153,694

Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) shares in Thousands	3 Months Ended
	Jun. 30, 2012 $ / shares shares
Number of Awards
Non-vested beginning balance \| shares	1,113
Awarded \| shares	28
Released \| shares	(83)
Forfeited \| shares	(31)
Non-vested ending balance \| shares	1,027
Weighted Average Grant Date Fair Value
Non-vested beginning balance \| $ / shares	$ 33.24
Awarded \| $ / shares	51.32
Released \| $ / shares	23.83
Forfeited \| $ / shares	33.16
Non-vested ending balance \| $ / shares	$ 34.39

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Mar. 31, 2012
Tax Credit Carryforward [Line Items]
Income tax expense	$ 6,527	$ 3,113
Effective income tax rate	39.00%	31.00%
Expected federal statutory rate	35.00%	35.00%
Valuation allowance reversed against research tax credits	$ 1,611
Valuation allowances against deferred tax assets	1,420
Valuation allowance against research tax credits	1,343
Valuation allowance against foreign net operating loss carry forwards	77
Unrecognized tax benefits which would favorably affect the effective tax rate once recognized	4,776		$ 4,699
Accrued interest and penalties	786		$ 784
Interest and penalties	29	$ 30
Reasonably possible amount of currently remaining unrecognized tax benefits	378
Reasonably possible amount of currently remaining accrued interest and penalties	$ 188

Contingencies	3 Months Ended
Contingencies	Jun. 30, 2012
Contingencies	4. Contingencies In the normal course of its business, the Company may be involved in various claims, negotiations and legal actions. As of June 30, 2012, the Company is not aware of any asserted or unasserted claims, negotiations and legal actions that are both considered reasonably possible of occurring and also would require disclosure under the guidance.

Assumptions Used In Black-Scholes Option-Pricing Model (Detail)	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Assumptions used to Determine Fair Value Options [Line Items]
Dividend yield	0.00%	0.00%
Expected volatility, minimum	45.00%	42.00%
Expected volatility, maximum	48.00%	44.00%
Weighted average expected volatility	48.00%	43.00%
Risk-free interest rates, minimum	0.73%	2.06%
Risk-free interest rates, maximum	0.85%	2.56%
Expected life (in years)	4 years 9 months 18 days	6 years 3 months 18 days

Schedule Of Tax Years Subject To Income Tax Examination (Detail)	3 Months Ended
	Jun. 30, 2012
U.S. Federal \| Minimum
Income Tax Examination [Line Items]
Tax Years Subject to Income Tax Examination	2001
U.S. Federal \| Maximum
Income Tax Examination [Line Items]
Tax Years Subject to Income Tax Examination	2012
New Jersey \| Minimum
Income Tax Examination [Line Items]
Tax Years Subject to Income Tax Examination	2002
New Jersey \| Maximum
Income Tax Examination [Line Items]
Tax Years Subject to Income Tax Examination	2012
Foreign jurisdictions \| Minimum
Income Tax Examination [Line Items]
Tax Years Subject to Income Tax Examination	2006
Foreign jurisdictions \| Maximum
Income Tax Examination [Line Items]
Tax Years Subject to Income Tax Examination	2012

Financial Assets Measured At Fair Value On Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2012	Mar. 31, 2012
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 246,390	$ 232,037

Deferred Revenue (Detail) - USD ($) $ in Thousands	Jun. 30, 2012	Mar. 31, 2012
Deferred Revenue Arrangement [Line Items]
Deferred revenue, Current	$ 119,689	$ 125,314
Deferred revenue, Non-current	24,328	22,059
Deferred software revenue
Deferred Revenue Arrangement [Line Items]
Deferred revenue, Current	826	3,764
Deferred services revenue
Deferred Revenue Arrangement [Line Items]
Deferred revenue, Current	118,863	121,550
Deferred revenue, Non-current	$ 24,328	$ 22,059

Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 5,928	$ 4,451
Cost of services revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	184	102
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	2,636	2,093
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	624	475
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,484	$ 1,781

A Reconciliation Of Amounts Of Unrecognized Tax Benefits (Detail) $ in Thousands	3 Months Ended
	Jun. 30, 2012 USD ($)
Reconciliation of Unrecognized Tax Benefits [Line Items]
Beginning Balance	$ 4,699
Additions for tax positions related to fiscal 2013	143
Additions for tax positions related to prior years
Settlements
Reductions related to the expiration of statutes of limitations
Foreign currency translation adjustment	(66)
Ending Balance	$ 4,776