Question-and-Answer Session
Operator
Thank you. (Operator Instructions). We’ll take a question from Jeff Silber with BMO Capital Markets.
Robert Bowen
Hey, Jeff.
Jeff Silber - BMO Capital Markets
How are you?
Robert Bowen
Good.
Jeff Silber - BMO Capital Markets
Just had a question regarding your withdrawal of guidance and I do understand the rationale behind it. But have things changed? I mean, in prior months you were willing to kind of give us guidance for 2008 and now you are saying the business is lumpy. Has the business gotten lumpier or has always been lumpy? If you could just kind of explain that rationale, I’d appreciate it.
Robert Bowen
Well, I think – Jeff, the only thing that’s really changed is we really looked – Jane and I looked very closely at our ability to hit guidance and almost continually we are either upping guidance or we are taking guidance down, but we’ve not had any ability to be able to predict accurately and we just think it’s not helpful.
If you look at the five-year trends, they are definitely moving in the right direction. We are making progress. We are doing the right things in the business. The signals are good from the markets, both the K-12 and the other markets that we see down the road and we are encouraged. But we just not – we just don’t believe it’s beneficial and worth the effort on our part. So we remain committed to this long-term goal of driving our revenue at 20 and above from organic growth and so that’s kind of our rationale. That’s the only thing, we are very...
Jeff Silber - BMO Capital Markets
Okay, fair. In your prepared remarks you were talking about why some of your large transactions didn’t close.
Robert Bowen
Right.
Jeff Silber - BMO Capital Markets
You said it wasn’t funding-related, but then you gave an explanation what you thought it was and I didn’t catch that. If you could repeat that I’d appreciate it.
Robert Bowen
Well, we believe it’s this movement, so if you really look at the characteristics of our buyers, we tend to – our sponsors tend to be first movers, innovators that are really trying to tackle this achievement problem in schools and deal with the strong accountability requirements. But there are less of them than there are kind of the mainstream buyers who are more cautious and conservative, and were starting now to move into those mainstream buyers, or as we expand in a district more of these call it cautious buyers get involved and we see that transactions close. We seldom lose a transaction.
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