Progress Software Corp., F1Q09 (Qtr End 28/02/09) Earnings Call Transcript

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2009-03-19 08:36:14.0

Tags: Revenue, Capital Market, Progress Software Corp., Iona Technologies, Call Transcript, Earnings, Operational Accounting, Financial Services, Investment, Finance, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions). And our first question comes from Brent Williams with Benchmark Company.

Brent Williams - Benchmark Company

Good morning, guys. Kind of go through a couple of things within product divisions, so first on Enterprise Infrastructure, could you give some quantitative color on the contribution for the IONA-based products on the license stream in EID. In other words, is that hanging in there flat down, just want to try to peel that apart a little bit for comparability?

Bud Robertson

On the license?

Brent Williams - Benchmark Company

On the license or total revenue.

Bud Robertson

Yeah, I will do total revenue. If you look at the total revenue, Brent, excluding Orbix, Artix and FUSE, which is the IONA products in Q1, the total revenue was up by around 20%. And if you adjust, the currency was up by more than 25%.

Brent Williams - Benchmark Company

Great, and that's very impressive in the current environment. Any changes in sort of the large deal flow there?

Bud Robertson

No.

Rick Reidy

Not really.

Brent Williams - Benchmark Company

Great. And then no Progress Software conference call now last couple years will be complete without my asking for more color on Apama kind of interested in things like how well they are doing broadening outside of financial services, anything on deal sizes, etcetera?

Rick Reidy

Brent, hi this is Rick.

Brent Williams - Benchmark Company

Hi, Rick.

Rick Reidy

Pharma had a good quarter continues to do very well. Interestingly it did have a particular good quarter outside of our capital markets which is our traditional strength. Although still the lion share of the business come from capital market. We are looking at other verticals transportation, logistic, telecommunications at the moment for pushing that product into new areas. Overall, its pipeline is strong it's looking good.

Brent Williams - Benchmark Company

Great, and then bouncing over to the DataDirect division, can we talk about two things, one is how the Shadow type product lines are doing, and second I notice you redefine the segments to include objects store, data extents, etcetera. Can we get an idea of how the comparable performance of the DataDirect and Shadow were doing just so can you just sort of normalize that?

Bud Robertson

Let me take the first part of that and Rick can answer the second part. As far as the business what you call I think the old DataDirect business Brent?

 

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