rEVO Biologics Inc IT
Q3 2010 Earnings Call Transcript

Transcript Call Date 11/04/2010

Operator: Good morning, ladies and gentlemen, welcome to the Gartner's Earnings Conference Call for the Third Quarter 2010. A replay of this call will be available till December 4, 2010. Replay can be accessed by dialing 888-286-8010 for domestic calls and 617-801-6888 for international calls and by entering the pass code 386-09362.

This call is being simultaneously webcast, will be archived on Gartner's website at for approximately 90 days.

I'll turn the conference over to Henry Diamond, Gartner's Group Vice President, Investor Relations and Corporate Finance, for opening remarks and introductions. Please go ahead, sir.

Henry A. Diamond - Group VP, IR and Corporate Finance: Good morning, everyone and thank you for joining us. On the call with me today are Gartner's CEO, Gene Hall and CFO; Chris Lafond. Before we discuss our results, I would like to remind everyone four things; first, the rebroadcast, reproduction and retransmission of this conference call or webcast without the express written consent of Gartner are strictly prohibited.

Second, if you did not receive a copy of our press release it is available on our website at or on the First Call system.

Third, the company will be making statements about its future results and other forward-looking statements during this call. Statements about future results made during the call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations in the current economic environment. Forward-looking statements and projections are inherently subject to significant economic, competitive and other uncertainties and contingencies which are beyond the control of management. The Company cautions that these statements are not guarantees of future performance, actual results may differ materially from those expressed or implied in the forward-looking statements. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements and projections are specified in the Company's filings with the SEC including in its annual report on Form 10-K for fiscal year 2009 and in its most recent quarterly report on Form 10-Q.

Finally, during the call the Company will be using certain non-GAAP financial measures as defined under SEC rules. Where required we have provided a reconciliation of those measures to the most direct comparable GAAP measures in the tables and the press release.

Before I turn the call over to our CEO, let me briefly review the highlights of our third quarter 2010 financial results. At September 30, 2010 contract value which is a key leading indicator for Gartner's Research business was $905.5 million. Year-over-year contract value was up 22% as recorded and 18% excluding the impact of foreign exchange.

Revenue was $296.1 million for the third quarter. Year-over-year, revenue was up 12%, excluding the impact of foreign exchange and 11% as reported. Normalized EBITDA was $51.1 million, up 25% year-over-year.

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