Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from the line of Amy Junker with Robert W. Baird. Please proceed.
Amy Junker - Robert W. Baird
Hi, good afternoon. First, if I can just have a clarification on your guidance and Mike Beach, I think you addressed this, but you only raised your guidance by 1 penny on the high-end and $0.03 on the low end. Is entirely due to the higher net interest income or interest expense that you are expecting or is there something else in there as well?
Michael Beach
Yes, so the net interest adjustment of $2.7 million for the full year and is going to be about $0.5 million in the second quarter, are driving those changes.
Amy Junker - Robert W. Baird
You have said that it was $2.7 million higher than you originally thought, just do you have what level you originally thought, so we just have a full year number of what you are thinking for that line item?
Michael Beach
I do not have that right in front of me right now.
Amy Junker - Robert W. Baird
Okay. I can follow-up with you off line.
Michael Beach
What your next question and we will try to pull that for you.
Amy Junker - Robert W. Baird
No problem. The 150 new Connect deals, the deals that closed in the quarter, that is great, that is a huge number, I guess, I just want to understand so 130 of those are actually new customers to Blackboard? If 20 came in existing customers?
Michael Chason
The 120 customers
Michael Stanton
The 150 clients, Amy was across all markets.
Amy Junker - Robert W. Baird
Okay
Michael Stanton
20 of them were Higher Education clients they were clients of Blackboard. So, they were significant number of new Higher Ed clients, but the 150 is across obviously K through 12, which is historically their biggest market.
Amy Junker - Robert W. Baird
Okay.
Michael Stanton
Higher Ed in probably a few in the CTY, the county government space, but definitely there is a reasonable number of new Higher Ed clients there.
Amy Junker - Robert W. Baird
Of the new clients, is it too early to tell us at this point and I got to see if are they interested in your suite of other products or what do you think the opportunity is to cross sell in to those new Connect clients?
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