Operator: Good day and welcome to the Progress Software Corporation Second Quarter Earnings Conference Call.
At this time, I would like to turn the conference over to Mr. Tom Barth, Vice President of Investor Relations. Please go ahead, sir.
Tom Barth - VP, IR: Thank you, Tom, and good afternoon, everyone, and thanks for joining us for the fiscal second quarter 2012 earnings call. I just want to apologies, we had a bit of technical difficulties with Business Wire in terms of getting our release across. If you have not been able to see it yet, you should be able to access it at Progress.com. You will notice a link to that press release in the lower left side, and it should be coming out by on Business Wire here shortly.
Joining me today is Jay Bhatt our President and Chief Executive Officer here at Progress Software.
Before we get started I'd like to remind you that during this call we may discuss our outlook for future financial and operating performance, corporate strategies, product plans, cost initiatives and other information that might be considered forward-looking. Please review our safe harbor statement regarding this, which is available on the Investor Relations section of our website at Progress.com. Today's conference call will be recorded in its entirety and be available via replay also on our website in the Investor Relations section.
Today, we published our financial press release on our website and furnished the information to the SEC in an 8-K filing now available on our website. These documents contain the full details of our financial results for the fiscal second quarter and I recommend you reference these documents for specific details.
With that, I'd now like to turn it over to Jay.
Jay Bhatt - President and CEO: Thanks Tom, and good afternoon, everyone. As mentioned in our announcement on June 7, much has happened this past fiscal quarter. I'm excited to say that we're making good progress on executing on our strategic plan which was announced on April 25, including the initiation of our previously announced divestures, a significant restructuring, and changes to how we're organized and how we operate. While some of these actions have been disruptive and negatively impacted our quarter, it's going to position us very well to achieve our goals for next fiscal year and beyond.
Today, I'd like to remind everyone of the key tenets of the strategic plan and provide some color on our fiscal second quarter financial results. However, I'd like to spend the majority of our time outlining the milestones we've achieved since the announcement and how we're managing the business in this period of transition, and provide you with more color to help you better understand our business going forward.
To start, as you may recall from our announcement on April 25 of this year, our new two phase strategic plan leverages our core strength in creating products and enables our ISV partners and enterprises to build and deploy state-of-the-art software applications.
In the first phase, already underway, we're focusing on three major areas. First, we're investing in our Core business which is defined as our application development and deployment platform or OpenEdge, our data connectivity environment or DataDirect Connect, and our products that drive real-time decision oriented analytics otherwise known as Apama, Corticon, and Progress Control Tower. Second, we've begun the process of making all of these products cloud ready. And third, we've begun to divest the 10 products which we defined as non-Core and are no longer central to our strategy.