Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Robert Evans - Craig-Hallum Capital.
Robert Evans - Craig-Hallum Capital
One thing I want to clarify. I think you made a statement earlier that you said the amount up for renewal totals more than you’ve signed thus far or can you elaborate on that?
Robert J. Rueckl
Yes. That’s a statement I made. The amount of subscription dollars that are up for renewal in next year are just north of $20 million at this point and year-to-date PLE orders I think around $23 million to $24 million. So what we’re seeing is that the opportunity for renewals in 2009 is already getting significant.
Robert Evans - Craig-Hallum Capital
Historically what had kind of been your renewal rates?
Robert J. Rueckl
They were anywhere from lower to mid-80%’s to over 90%. This is our second renewal cycle so renewals are still a pretty small piece of our overall business.
Robert Evans - Craig-Hallum Capital
And this period of renewals, is this on a fiscal year or more on a calendar year? Will this happen more towards the end of this calendar year or early next year?
Robert J. Rueckl
It’s fiscal year and it will be with our seasonalities so it is heavier in the back half of the year. Now again keep in mind that we will be doing business in the fourth quarter of this year a portion of which will also come up for renewal in the fourth quarter of next year.
Robert Evans - Craig-Hallum Capital
I guess what I’m trying to find out is by next quarter will you have a good feel of what your renewal rate for those 09s or will you have to wait yet another quarter?
Michael A. Morache
We are tracking our renewal rates. Our target is to have them around 90% next year. We have been fluctuating anywhere from 80% to 90% this year. For our own planning purposes our target is around 90% and I believe we’ll do that. I don’t think that’s an extraordinary figure.
Robert Evans - Craig-Hallum Capital
If I’m not mistaken, a lot of times when you renew you renew at a dollar volume that’s higher?
Michael A. Morache
Yes. We call that the attach rate and our attach rate has been averaging around 20% attaching additional subscription volume to the original order that was made before the renewal. So that’s been pretty steady.
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