Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Sterling Auty - JPMorgan
Sterling Auty - JPMorgan
So a couple of questions, first can you characterize what the close rates were like as you went through the quarter and sales cycles and how you’re kind of managing the pipeline, meaning is the pipeline growing in terms of opportunities to offset what I would expect to be lower close rates.
Stephanie DiMarco
Well what we’re seeing is that our sales teams are very busy and the way I would characterize the environment, is its just tougher to close business so more people are delaying buying decisions. And that gives us actually quite a bit of optimism because we think there’s going to be a lot of pent up demand when the pessimism of buyers changes.
Sterling Auty - JPMorgan
Okay and would you then characterize, do you need maybe the coverage of the pipeline to be much bigger in order to hit the kind of current estimates you have out there.
[break in audio]
Stephanie DiMarco
That was interesting.
Operator
Your next question comes from the line of Gil Luria - Wedbush Securities
Gil Luria - Wedbush Securities
Just a couple of questions, first with the reduction in the renewal rate due more to customers going away or to reduced pricing.
Stephanie DiMarco
It really is a combination of all of that. Its cancellations, its some customers going away, its having less ability to capture price increases and up selling opportunities.
Gil Luria - Wedbush Securities
So then just a follow-up, could you provide any color on renewals thus far in Q2.
Jim Cox
So I think it remains holding up. I wouldn’t say that its getting better yet would be the way that I would describe it. But I think it hasn’t significantly changed. And just as a point of clarification, we reported on Q4 so next quarter we’ll report on Q1.
Operator
Your next question comes from the line of Andrey Glukhov – Brean, Murray, Carret & Co.
Andrey Glukhov – Brean, Murray, Carret & Co.
So if I look at the operating metrics, it seems to be there is a dichotomy between the performance of the two business units here, the global account sort of business unit, the Geneva sales continue to actually hold up very nicely in the deal count versus the APX sales are sort of shrinking for the first couple of quarters, do you expect the trend to continue or do you expect that to start reverting to the [mean] a little bit.
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