Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Dan Zeff - Zeff Capital.
Dan Zeff – Zeff Capital
Do you expect revenues to grow next year, fiscal 2009 versus ?08 based on your industry calls and analysis and the Monarch cycle etc?
Ken Bero
Well Dan, let me reference it this way. You know we can’t do any forward projections and we won’t do any but I can tell you that we’ve done a lot of work with the products this year. We feel like exiting 2008 and moving into 2009, we’ve got the strongest set of products that I think we’ve ever had in the company, and that’s across all product offerings.
We have Version 10 which has been released as of October 20, so that’s the beginning of the sales cycle. As John said we have begun our marketing initiatives to help drive the revenues, so I think we feel as good as you can feel, given the turbulence of the economy and just the volatility of the economy. I think we feel about as good as we can feel going into 2009.
Dan Zeff – Zeff Capital
Are you comfortable with your ongoing ability to manage expenses with revenues and maintain profits or close to that?
Ken Bero
I think the thing that the team did this year was really focus on the expense line, even aside from what’s kind of in the hindsight been the toughening economic situation. We were focused on that, because we knew it was a non-upgrade year and the fourth quarter was going to be the most difficult and we did focus on expenses and took action and we took our costs out of the business. So we think we’ve got control mechanisms in place and again from the expense perspective, we feel good going into 2009.
Dan Zeff – Zeff Capital
Are those expenses necessarily going up with the new upgrade cycle?
Ken Bero
In what regard?
Dan Zeff – Zeff Capital
Operating costs or are you at a comfortable level?
Ken Bero
We’re at a comfortable level. I think part of our challenge last year and I think we really accomplished it was to make sure that we controlled expenses, but that you didn’t do it in such a way that you really hindered your ability moving forward and we clearly knew that B10 was going to come out this year and so we planned the adequate amount of marketing activity for the product. We have not done things that will really hurt the business. We made strategic investments and continue to take out those pieces of the expense structure that really don’t add value to the business.
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