Question-and-Answer Session
Operator
(Operators Instructions) Your first question comes from the line of David Eller - Raymond James.
David Eller - Raymond James
As margins were quite strong this quarter, how should we think about 2009 and potential for expansion and how should expect an uptick as in 2008?
R. Scott Turicchi
In terms of the margin, I would look first of all I am always looking at four rolling quarters opposed to ticking out one quarter. We had somewhat lower than usual marketing expansion in Q4, which is somewhat traditional. We tend not to be as aggressive in marketing from Thanksgiving through the end of the year. So, some of that you will see reverse in Q1, it will be end sequentially but I think that we believe in this scenario that certainly the annual margin should increase year-over-year. Although the 46.5 may not be sustainable through Q1 because of incremental marketing and as I say later in the year and the timing is hard to predict, depending upon the timing and the amount that is spent with regard to our intellectual property activities so that will flow through as amortization as the G&A. It will not be something that will in Q1 but it certainly could serve the bill from Q2 and bill drop over the course of the year.
David Eller - Raymond James
Okay and then what kind of foreign exchange rates are you assuming? You talked a little bit about your assumptions. Do you reckon up assumptions point to the revenue growth growing frequently throughout the year?
Scott Turicchi
Well in terms of the exchange rate, I guess the pound the and euro, they are roughly where they are now but we relative to all of fiscal 2008, that is a strong dollar and probably has about $2 million to $2.5 million of making it headwinds in terms of revenue.
Hemi Zucker
I think it was like 140 almost during last year and we are thinking about mid 20, yes.
David Eller - Raymond James
And then one with potential email company that you are looking right now for acquisition, should we think of these in the 1% to 2% of revenue range or how should we think about those?
Scott Turicchi
It is similar to the fact that many of them are small or any one of them is 1% to 3% of our current revenue. There are few that, in fact many very similar to a lot of our spaces. There is a handful at best. They are probably doing $10 million or north of revenue and that majority of doing are $1.5 million to $3.5 million or $4 million. So probabilistically we really across all three of the spaces as percentage churns, most of the deal tend to be like a MailWise or a Mijanda which are small under the range and there is a minority of them like so many people will be at the large end of the range.
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