Operator: Good afternoon, ladies and gentlemen. I am Katrina. Welcome to TIBCO's First Quarter 2013 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 800-585-8367 or 404-537-3406. The passcode for both the call and the replay is 19449674.
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 forecast 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 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 development or otherwise.
This conference call also includes certain financial information that has not been prepared in accordance with Generally Accepted Accounting Principles. 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 GAAP and a reconciliation of the differences between the non-GAAP and GAAP financial information, please see our website at www.tibco.com.
The participants on the call are Vivek Ranadive, TIBCO's Chairman and CEO; Murray Rode, Chief Operating Officer; and Sydney Carey, Chief Financial Officer.
I would now like to turn the call over to Vivek.
Vivek Ranadive - Chairman and CEO: Well, thanks Katrina, and thank you all for joining us. I will begin with a few remarks on our Q1 performance. Murray and Sydney will then discuss operating details before turning it over for Q&A. in summary, we met expectations on EPS this quarter and demand for our professional services, maintenance and cloud offerings were strong. However, we fell short of our objectives on license revenue growth. As reported, total revenue came in at $238 million. Licensed revenue was $78 million.
Non-GAAP operating margins were 19% and non-GAAP EPS was $0.18. We are not happy with this performance. While demand for our products and solutions remained strong, execution issues continue to hinder our results, while it is possible that macro pressures had an impact in select corners of our business that does not explain this quarter's performance. Our issues are primarily execution related and there remains work in process on some of the positive changes we instituted, beginning last quarter.