Q3 2013 Earnings Call Transcript

Transcript Call Date 01/28/2013

Operator: Good day, everyone. Welcome to today's BMC Software Third Quarter Fiscal Year 2013 Earnings Results Conference. Today's call is being recorded.

At this time, for opening remarks, I'd like to turn the program over to Mr. Derrick Vializ. Please go ahead, sir.

Derrick Vializ - VP, IR: Good afternoon, everyone. I am Derrick Vializ, Vice President of Investor Relations, and I would like to thank you for joining us this afternoon. During our call, Bob Beauchamp, our Chairman and CEO will provide an overview of the third quarter fiscal 2013 performance of both our Company and business units and update you on recent initiatives. Steve Solcher, our CFO will then provide additional financial and operational details. Bob will conclude our prepared comments by discussing and providing you with an update of our expectations for fiscal 2013 before we open the call to questions.

These prepared comments were previously recorded. This call is being webcast and a complete record of the call will be made and posted to our website. In addition to today's earnings press release, we have posted a presentation that we will refer to at various times during the call. Both of these documents are available on our Investor Relations website at

Before we continue, I would like to remind you that statements in this discussion, including statements made during the question-and-answer session regarding BMC's future financial and operating results, particularly, statements and views regarding fiscal 2013, the development of and demand for BMC's products, BMC's operating strategies, acquisitions and other statements that are not statements of historical facts are considered forward-looking statements.

These statements are subject to numerous important factors, risks, and uncertainties that could cause actual results to differ from the results implied by these or any other forward-looking statements. Cautionary statements relative to these forward-looking statements and BMC's operating results are described in today's earnings press release and in our Annual Report on Form 10-K.

All of these documents are available on our website. These forward-looking statements are made as of today based on certain expectations and we undertake no obligation to update these forward-looking statements.

I would also like to note that the Company's use of non-GAAP financial measures is explained in today's earnings press release and a full reconciliation between non-GAAP measures and the corresponding GAAP measures is provided in the tables accompanying the press release and at At this time I will turn the call over to Bob.

Robert E. Beauchamp - Chairman and CEO: By now many of you have seen our third fiscal quarter results. While we had a record quarter for maintenance revenue, professional services revenue, total revenue and non-GAAP diluted EPS and saw many encouraging signs in our business we did not meet our expectations for bookings, revenue or profitability. Most of our shortfall was a direct result of a number of large forecasted deals in our ESM business unit failing to close at the end of the quarter.

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