Question-and-Answer Session
Operator
Thank you. (Operator Instructions). And our first question comes from the line of Christina Blacksheek (ph) with William Blair. Please proceed with your question.
Unidentified Analyst
Good morning. Congratulations on a nice quarter.
Michael Hays
Thank you.
Unidentified Analyst
I wanted to get a little bit more color on 2009 guidance. I got some for regarding revenue growth for the year, now you had mentioned that we can expect up to 20% annual revenue growth. Given the new Healthcare Market Guide product and the transition towards recognizing revenue over a full year period. Do you expect there to be any seasonality during the year for revenue growth, or should we assume that the annual revenue growth will kind of ramp up steadily throughout the year?
Michael Hays
This is Mike. Let me try to attack both parts of the question. First of all, we don't give guidance, so if I came across in the prepared script as quantifying guidance for 2009, I'd rather not.
Unidentified Analyst
Okay.
Michael Hays
We do have $60 million worth or 61 I guess number is million dollars worth of book contract which if we get all that done, we'll represent 20% growth. Our desired growth is 20% to 25%, 20% would be good, hopefully to that contract value you can add net new sales. But please don't take that as guidance, it's just where we said today.
Unidentified Analyst
Sure.
Michael Hays
And in terms of Healthcare Market Guide, the Ticker product which is a monthly subscription based product that has ratably recognized revenue each month in equal proportion that does level out the seasonality that we historically had.
However, third quarter does still have not nearly to the proportions as historically but does still have a spike in third quarter for those clients that have not converted to the monthly developable and rather for whatever reason retain their annual subscription. So it is smoother but it's not perfectly flat for Healthcare Market Guide.
Unidentified Analyst
Okay, that's helpful. Do you have an updated percentage of those who have converted or do you anticipate that a 100% overtime will convert or is that they will have to?
Michael Hays
Well, we want to do what our client say. So we don't want to put anybody in position where they either have to convert it or lose them as a subscriber. So two-thirds, I think is a number that has convertible, one-third hasn't there is a group of clients here in the first quarter of 2009 that will have their first opportunity to convert.
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