Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Youssef Squali - Jefferies & Co.
Youssef Squali - Jefferies & Co.
My first question is about deferred revenues. These were down slightly quarter-on-quarter. Is this simply because the pace of subscriber growth slowed down or because you lost some smaller customers.
John M. Green
It’s primarily the reflection of Citadel not being renewed on an exclusive basis. One can also anticipate that deferred revenue gradually will move in line with what our revenue growth is.
Youssef Squali - Jefferies & Co.
Of the 32 new customers that you signed in the third quarter, can you say how many of these were subscribers and break out how many were for the core [inaudible] versus the eMetrix?
John M. Green
It was primarily on the subscription side as well as a number of new customers in eMetrix. We are also very encouraged that the average selling price was well above whatever attrition we experienced from smaller companies.
Youssef Squali - Jefferies & Co.
Can you update us on the percentage of you subscriber base that is under multi-year contract?
John M. Green
It’s now 32%.
Magid M. Abraham
And that’s again a reflection of the Citadel agreement which was a five-year agreement. Now that dollar amount is lower. So excluding Citadel that percentage actually has gone up.
Youssef Squali - Jefferies & Co.
So this is 32% a percentage of revenue or is it a percentage of the subscriber base?
John M. Green
That’s 32% of our overall subscription revenue base.
Operator
Your next question comes from Troy Mastin - William Blair & Company.
Troy Mastin - William Blair & Company
First I wanted to ask about the fourth quarter guidance and what sort of booking activity is anticipated in the guidance versus where you stood in the third quarter or where things were last year.
John M. Green
We don’t provide bookings activity. And I think that we have kind of shed light in terms of where we see the market conditions, that we have modified our full-year revenue guidance accordingly.
Troy Mastin - William Blair & Company
Is it fair to assume you are anticipating a slowdown in new customer additions on a revenue basis versus where you’ve been recently?
John M. Green
Again, we have identified it’s on the project side and related to the [inaudible] consolidation the [inaudible] that we are refining our revenue guidance for the fourth quarter.
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