Question-and-Answer Session
Operator
Thank you. (Operator instructions) Our first question comes from John Maietta with Needham & Company.
John Maietta – Needham & Company
Thanks very much. It sounds like you are saying maybe a little bit of pricing pressure, maybe a little bit of elongated decision-making cycles. But it doesn’t sound like you are saying anything in the way of your broad-based project cancellations or anything like that. Is that a fair statement, Tom or Kris?
Tom Holler
Yes, John. It’s Tom. That’s a fair statement. We haven’t seen any material cancellations of any existing engagements. Obviously, we have projects that come to completion and there were no recourse of business. We are seeing some timing delays due to the calendar year budget cycles.
John Maietta – Needham & Company
Got it. Okay. And then Tom, could you just maybe give one or two examples of where the investment is going to go in customer phasing and business development investment?
Kris Canekeratne
John, it’s Kris. Let me take that. So, clearly we’ve had fairly good success with our value proposition and we find that value proposition of consolidated platforming approach clearly resonates with clients, primarily because it delivers efficiencies at a global price point that certainly is very compelling to clients. So, we believe that by modestly increasing our investments in business development, which would include sales, which would include programs and which would include solutions and our ability to give some of the solutions through client services, will certainly enhance our ability to win additional clients that can create a better foundation moving forward. And as you will know in these difficult times, our ability to differentiate ourselves and to be able to win new clients puts us into a better position moving forward, especially as the economic environment improves in a post-recession environment.
John Maietta – Needham & Company
Got it. Okay, it makes sense. Thanks very much.
Operator
And we will move on to David Cohen with JP Morgan.
David Cohen – JP Morgan
Hi, thanks. I am sorry if I’ve missed this point. But, what was the extra revenue that came into the quarter from clients with additional year-end spending?
Ranjan Kalia
It was approximately $1 million, $900,000 to $1 million.
David Cohen – JP Morgan
Okay. Thank you. And then I just wanted to understand if you can help drill in a little deeper on the conversations you’ve been having with clients and prospects. You are hopeful in terms of some of the pricing, but are you getting a feeling that budget timing issues aside that clients and prospects are looking to do more outsourcing or – as the calendar year unfolds. If you could just talk a little bit more about the tone and the nature of the conversations you are having with clients, that would be great.
- To read the full transcript on Seeking Alpha, click here »




