835729--6/14/2006--BMC_SOFTWARE_INC

related topics
{product, market, service}
{system, service, information}
{condition, economic, financial}
{cost, operation, labor}
{acquisition, growth, future}
{property, intellectual, protect}
{tax, income, asset}
{control, financial, internal}
{regulation, change, law}
{interest, director, officer}
We may have difficulty achieving our cash flow from operations goals. Our restructuring efforts may strain our management, administrative, operational and financial infrastructure The software industry includes large, powerful multi-line and small, agile single-line competitors. Industry consolidation could affect prices or demand for our products. Our products must remain compatible with ever-changing operating and database environments. Future product development is dependent upon access to third-party source code. Future product development is dependent upon early access to third-party operating and database systems. Future product development is dependent upon access to and reliability of third-party software products. Growing market acceptance of open source software could cause a decline in our revenues and operating margins. Discovery of errors in our software could adversely affect our earnings. Failure to maintain our existing distribution channels and develop additional channels in the future could adversely affect our revenues. Our customers may not accept our product strategies. Changes to compensation of our sales organization may have unintended effects. Risks related to business combinations. Unanticipated changes in our effective tax rates or exposure to additional income tax liabilities could affect our profitability. Enforcement of our intellectual property rights. Risks related to global operations. We have identified a material weakness in our disclosure controls and procedures and our internal control over financial reporting, which, if not remedied effectively, could have an adverse effect on our business.

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