Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Jay Vleeschhouwer – Merrill Lynch
Jay Vleeschhouwer – Merrill Lynch
On the $915 million revenue forecast for the year which is unchanged, but you’re now including the $15 million from Ponte Solutions and Flomerics so the question is has there been any change in your revenue assumption for the base business ex the acquisitions or are you perhaps anticipating you might be able to build some backlog for the base business ex the acquisitions. On geographic results, I think you said Japan was up over 100% in bookings, which I could see since it was an easy compare against the 30% decline in Japan a year ago, but maybe just give a little more insight into what happened in Japan and similarly in Europe you were up 30% a year ago, so that was a hard compare so maybe talk about what drove strength in Europe.
Gregory Hinckley
Japan was a beneficiary of a large contract, in fact our largest customer worldwide for our cable and wire harness software and we had some success with other automotive accounts in Japan. Europe was where we had our single largest piece of business this last quarter; the piece of business that represented the in excess of 10% of our bookings.
In terms of the $915 million and the effect of Flomerics and Ponte Solutions, the Flomerics acquisition was only completed in July. We are now going through the steps of really understanding the business. Historically they have been running somewhere around $30 million with the revenue a year so it’s logical that over a six month period of time that that we should do somewhere half of that in the last six months of our fiscal year 2009.
But we’re not far enough in our understanding of their business to deal with what it does to our total revenue for the year but we forecasted breakeven results for this year and meaningful accretion for next.
Jay Vleeschhouwer – Merrill Lynch
But just to be clear, you’ve not changed your bookings assumption or about potential backlog assumption for the base business ex the acquisitions?
Gregory Hinckley
That’s correct.
Jay Vleeschhouwer – Merrill Lynch
What’s the cash flow forecast for the year?
Maria Pope
So we’re looking at, as you remember in our prior call, we’re looking at about $100 million in cash flow. We are concerned that in the current economic environment that we could be getting lower percent of upfront cash payments jeopardizing some of that $100 million. And additionally our back ended year may result in AR collections that could be pushed into fiscal 2010 so while we haven’t forecasted a new number we are concerned that we would reach that full amount.
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