Question-and-Answer Session
Operator
(Operator instructions) And your first question comes from Michael Cox with Piper Jaffray.
Michael Cox – Piper Jaffray
Hi good afternoon.
Steve Berglund
Good afternoon.
Michael Cox – Piper Jaffray
My first question is on the E&P side of your business we have heard from several of the industrial companies that to recover that the sequentially trend seem to be I guess getting less negative or the sequential drop is less severe. I am curious if you are seeing that in your business, maybe moderating a little bit.
Raj Bahri
I think statistically it's hard to prove anything at this point in time in terms of the use of hard data. I think fourth quarter was exceptionally confused, I think the first quarter was less confused if that’s an indicator. But I think what is potentially encouraging as I said is that, lets call the anecdotes are comparatively less negative and in fact some of the anecdotes tend to be comparatively positive. And the anecdotes tend to revolve around the number of demos that are being given, if demos of product as well as quotes being issued. Now for the last six months those are not turned into orders and therefore they have not turned in to revenue. But in general the relative talk out there, the relative set of anecdotes that are being relayed verbally are not as negative as the numbers would say. So it's too early to actually point a data to say that what the trend is. But I would say the background chatter is not as negative as the numbers will be to imply.
Michael Cox – Piper Jaffray
Okay that’s helpful. In the Field Solutions side of your business it seems that the growth there runs contrary to what we been hearing from at least to a couple of your competitors. And I will be curious how much of the growth there was attributable to the acquisitions versus internal organic growth.
Raj Bahri
So actually if you look at the segment grew around 13% year-over-year and GIS business which is part of that actually did not have growth. So agriculture actually experienced more growth than the Field Solutions segments imply and I would say you know roughly half of the growth was organic and half of it was acquisitions.
Michael Cox – Piper Jaffray
Okay that’s great and my last question is on the expense side. R&D and sales and marketing expenses declined year-over-year but G&A was up so only what factors led to that increase and if we should continue to expect that?
- To read the full transcript on Seeking Alpha, click here »







