Oh I'm not saying I think the US or European economies are going into recession but it is conceivable and it would be a negative. eGain has significant European sales so they could prosper even if the US went in the tank.
Actually, eGain might very well have more exposure to the Rupee and wage inflation in India than they do to an economic downturn in the US. That clearly has been a negative for them.
I'm saying some negative things here but they aren't anything I wouldn't have said six months ago. The only difference now is the share price is declining and shareholders aren't aware of any eGain reason so it is natural to be paranoid that something has gone seriously wrong and we just aren't aware of it. I don't think that anything is wrong but it certainly is conceivable.