Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Gil Luria – Wedbush.
Gil Luria - Wedbush
You gave a fine breakdown of the geographies would you mind giving us the breakdown by Americas, EMEA and Asia/Pacific?
Norman Stout
Are you talking about revenues?
Gil Luria - Wedbush
Yes please.
Bob Vreeland
The EMEA is about 58% of the total. Asia/Pacific is about 22% of that total and the balance being the Americas.
Gil Luria - Wedbush
I imagine the Asia/Pacific and the Americas portion from Thales is small that’s almost all in EMEA.
Bob Vreeland
Correct.
Gil Luria - Wedbush
Can you tell us what the currency benefit was in the quarter?
Bob Vreeland
There really wasn’t that much currency impact to this quarter from that because the rate for the Euro was fairly consistent throughout the quarter. That would relate to the Thales side of the equation and then from a legacy Hypercom we really were not impacted that greatly by foreign currency as a lot of our revenues are based on US Dollar.
Gil Luria - Wedbush
I think you just gave us some good guidance toward the end there 34% to 36% gross margin exiting the fourth quarter of ’09. In terms of revenue growth the other big piece there what can you share with us in terms of your expectations for growth, is it market rate of growth, how do you perceive market rates of growth being right now.
Norman Stout
Philippe, Gil’s question there when you think about revenue growth and where we’ve been looking back to Q2 and the last six quarters we’ve had continuous revenue momentum how does it look going forward?
Philippe Tartavull
As we have mentioned in the past we will continue to forecast in selected country where we believe we can continue to get traction. That’s obviously includes countries like North America, Northern Europe and certain selected countries in Southern Europe as well as some selected countries in Asia. This is clearly in line with our strategy. I don’t think we can provide guidance in terms of year to year revenue growth.
Norman Stout
I would want to point out if we talked about even with the tough economic times in North America we achieved those revenues in Q2.
Gil Luria - Wedbush
It seems that on the Hypercom side you’re probably growing faster than the market and Thales side it’s been flat for a little while.
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