Question-and-Answer Session
Operator
(Operator Instruction). Your first question comes from Nandanam Bhadiyan - Deutsche Bank.
Nandanam Bhadiyan - Deutsche Bank
Question on the overall environment and specific verticals, I know you talked about the verticals that you continue to set into. Were there any particular ones that were stronger that are starting to show signs to bounce back?
Greg Gianforte
Yes, good question. I’d say overall environment really hasn’t changed that much. Clearly we had a record booking quarter, so it was a very strong quarter, but there are a lot hurdle we are jump through. The message that I’m going to give you here are very consistent with the messages I gave you in Q2. We have not seen the dam break loose at this point, although we did post record quarters.
We did mention in our prepared comments, the high tech and public sector were really the two standouts during the quarter as you might imagine. Public sector in the U.S. federal business at the end of the fiscal year, and we all saw concentration in high-tech.
Operator
Your next question comes from Brendan Barnicle - Pacific Crest Securities.
Brendan Barnicle - Pacific Crest Securities
I just wanted to follow up, Jeff on your comment about the tax rate. So given that increase in tax rate as we look at sort of a non-GAAP number for next year and from what we have seen from bookings growth so far, is it still safe to assume that even with that increase in tax rate we would see some increase in earnings growth.
Jeff Davidson
Yes. Our plan for next year while we are not getting guidance yet is that we are going to progress towards the operating margin goals that we have out there, we talked about existing 2011 as our target. So that would indicate earnings growth next year and I think if you work with your models, and you have the 20% rate through next year and that 20% is on the GAAP net income. So use that for your tax expense even when you come to your non-GAAP, you will see earnings growth on a non-GAAP basis.
Brendan Barnicle - Pacific Crest Securities
Is there a way to get to like a non-GAAP tax rate than we would find through that.
Jeff Davidson
The non-GAAP that we have is just stock-based compensation, and I haven’t clearly gone through the exercise of breaking out the tax effect about that and we don’t tax effect it, and I haven’t really planned to.
- To read the full transcript on Seeking Alpha, click here »
