Chordiant Software Inc. F2Q09 (Qtr End 31/03/09) Earnings Call Transcript

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2009-05-07 18:32:18.0

Tags: Call Transcript, Quarter, Chordiant Software Inc., Earnings, Citigroup Inc., Operational Accounting, Finance, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions) Our first question comes from Derrick Wood with Wedbush Morgan Securities. Please go ahead.

Derrick Wood - Wedbush Morgan Securities

Good afternoon guys.

Steven Springsteel

Hi Derrick.

Derrick Wood - Wedbush Morgan Securities

I’m looking at the 10-Q, and it looks like you recognized roughly $2 million from Citi. Just curious if you can up date what the pipeline looks like with Citibank. First of all, is that mostly services revenue at this point and then what do you expect going forward?

Steven Springsteel

Yes, Derrick this is Steve. We don’t get into lot of details about the pipeline, specifically even as it relate to customers.

I can tell you that Citi seems to still be hanging in their going okay. It wasn’t to the level that we thought that it was going to be when we signed the contract a few years ago, but I think we’re pretty much wrapped up on the professional services side there. So now we are expecting continued roll out from more seat orders since we progressed forward.

Derrick Wood - Wedbush Morgan Securities

Okay. On the cancellation of the SOW, that was just one customer?

Steven Springsteel

The majority was one customer.

Derrick Wood - Wedbush Morgan Securities

Okay and did that have to do anything with Citi or??

Peter Norman

No, it didn’t have anything to do with Citi this quarter.

Derrick Wood - Wedbush Morgan Securities

Okay and so Pete you said professional service is going to tick down from last quarter, but it sounded like you didn’t expect a big step down, is that right?

Peter Norman

Yes, we said a slight decline from the current quarter.

Derrick Wood - Wedbush Morgan Securities

Okay. I guess in terms of the products, it looks like decision management license revenue was down quite a bit, but I know that’s an area that seams to be of increased demand and you guys have called that out, is that just typical seasonality and if you could just give us color as to what happened around that pipeline and whether deals had slipped and any kind of sense of pipeline color that would be great with that product.

Peter Norman

I don’t think decision management pipeline went down or revenue went down; actually decisioning is doing very well right now and the transaction just provides some more color into the transaction that we closed. Already this quarter was a carryover from last quarter. It was a decision management product; it was in financial services and it was in North America. So those are some interesting data points.

 

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