Operator: Good afternoon, ladies and gentlemen, I am Casey. Welcome to Tibco's First Quarter 2011 Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. You can also listen to this call via the Internet at www.tibco.com.
Today's call is being recorded and will be available for playback from Tibco Software's website at www.tibco.com. In addition, replay will be available through InterCall for one month following today's call by dialing 1-800-642-1687 from the U.S. or 706-645-9291 internationally. The confirmation code is 48596709.
The following conference call includes forward-looking statements, which represent Tibco Software's outlook and guidance only as of today and which are subject to risks and uncertainties. These forward-looking statements include, but are not limited to, forecasts of revenues, operating margins, operating expenses, outstanding shares, and earnings per share for future periods. Our actual results could differ materially from those projected in such forward-looking statements. Additional information regarding the factors that could cause actual results to differ materially are discussed in the Risk Factors section of Tibco's most recent reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. Tibco assumes no obligation to update the forward-looking statements included in this call whether as a result of new developments or otherwise.
The conference call also includes certain financial information that has not been prepared in accordance with Generally Accepted Accounting Principles as we believe that such information is useful for understanding our financial conditions and results of operations. For a presentation of the most directly comparable financial measures calculated in accordance with the GAAP and a reconciliation of the differences between the non-GAAP and GAAP financial information, please see our website at www.tibco.com.
The presenters on the call are Vivek Ranadiv�, TIBCO's Chairman and CEO; Murray Rode, Chief Operating Officer; and Sydney Carey, Chief Financial Officer.
I'd now like to turn the call over to Vivek.
Vivek Ranadiv� - Chairman and CEO: Thanks, Casey, and thank you all for joining us today. I'll begin the call with summary remarks and our first quarter performance. I will next provide an update on the broader market environment we’re seeing and pursuing. Then I will turn it over to Murray and Sydney to discuss further details.
We started 2011 in our strongest position ever as our Q1 results will attest. Total revenue grew by 20% over the first quarter of 2010 for a Q1 record of $185.3 million. License revenue grew by 29%; its fastest pace in a decade for a Q1 to 70.1 million. Non-GAAP operating margins came in at 21.9%, a 230 basis-point expansion over the same period a year ago and non-GAAP EPS at $0.16 grew by 33% over the first quarter of last year. Once again we exceeded our guidance ranges for revenue and profitability.
Last year I spoke of the tipping point in our business and a new era in enterprise computing as companies shift from transactional or database-centric architectures to event-driven architectures built around a Service Bus. This new era has arrived and the 21st century has begun. Whereas content was king in the 20th century, context will be king in the 21st century.