Question-and-Answer Session
Operator
Thank you. (Operator Instructions) And we'll take our first quarter from Raj Seth with Cowen and Company.
Raj Seth - Cowen and Company
Hi. Thank you. Roy, I just want to understand the guidance here and what happened to backlog. A quarter or so ago, when Cadence said that they saw everything slowing down and potentially some stuff pushing out, you guys just said you weren't seeing that. You've guided down pretty substantially. And I think we were conditioned to expect backlog to grow roughly in line with revenues. We're obviously much lower than that. Is the implication of that that some very big deals in Q4 slipped and that your guidance in '09 does not assume that they come back, or what exactly happened on the bookings front here in the fourth quarter?
Roy Jewell - President, Chief Operating Officer
As you deduced, there were a number of deals that we had in process that, frankly, I expected to have close in the fourth quarter. And the environment that we see out there, I tried to cover it a little bit in my presentation. We don't see our customers having significant fiscal problems, but we do see a lot of caution in how they're setting themselves up to go forward. So I can give you a couple of deals that got pushed out.
I know one deal from a major company that I thought was going to come in at about twice as large as it did. They were much more pragmatic in how they placed the order. And we just had to deal with that in the quarter. And it actually ended up getting backed up at the very end of the quarter.
So I'll say that I don't think that it's doom and gloom like some of my competitors have said in terms of the environment with semiconductor manufacturers, but I do see them being extremely, let's say, diligent and creating a lot of visibility when they're placing orders. There's a lot of people that are trying to slow down right now until they know exactly where they businesses are going.
Raj Seth - Cowen and Company
Is it fair, what I mentioned before, the assumption that backlog should normally grow about the same as revenues, that would have put backlog around $500 million if, in fact, that was a fair assumption. Was that a fair assumption and are we actually saying that $100 million in bookings somehow slipped out of Q4? Or is there something wrong there?
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