The Ultimate Software Group Q3 2009 Earnings Call Transcript

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2009-10-27 16:56:08.0

Tags: Workplace, Ultimate Software, Call Transcript, Quarter, Earnings, Recruitment & Selection, Sales Strategy, Human Resources, Workforce Management, Sales, Seeking Alpha

Question-and-Answer Session

Operator

(Operator's Instructions) Your first question comes from Richard Baldry with Canaccord Adams.

Richard Baldry - Canaccord Adams

Thanks. In the past you've talked about attach rates on the various modules. I was wondering if you could update us on that either overall or maybe between enterprise and Workplace. Thanks.

Scott Scherr

I didn't say because it was consistent with what I said last quarter. I don't have the exact numbers in front of me, but like I said, I think people are going for the unified solution and we're having a high attach rate against all our products.

Richard Baldry - Canaccord Adams

And I think you also said last quarter that the (inaudible) play per month had been on the rise for Workplace. Do you think that's still consistent as a trend and where do you see that shaking out as you head into '10?

Scott Scherr

It's consistent and I think it's going to keep growing higher as we move forward.

Richard Baldry - Canaccord Adams

And I think the last one will be, last quarter you had zero turnover in the enterprise side on the sales side, I'm wondering if that's still also consistent heading into the second half, want to presume that if you made it to the second half you're probably not going anywhere with year end approaching.

Scott Scherr

I met with both sales teams on Workplace twice in the quarter and the enterprise sales team had zero turnover and we have the team in place for next year. Workplace we have the team in place for next year and we had one turn in Workplace.

Richard Baldry - Canaccord Adams

Thanks, and congrats on the quarter.

Operator

We'll go next to Ilya Grozovsky with Morgan Joseph.

Ilya Grozovsky – Morgan Joseph

Thanks. Guys, you had said that the employment reduction for your customers was 4.1%, was that year to date or was that in the quarter?

Mitchell K. Dauerman


That's for the year to date, Ilya. What we do is measure the same clients who were in our base in December and those that are in our base in September and so that's the stat we quoted, their change in their employment.

Ilya Grozovsky – Morgan Joseph

And what was the number in the quarter for change in employment?

Mitchell K. Dauerman

I think we started the quarter with 3.4, we ended at 4.1. It dipped down a little bit more in the middle of the quarter and then came back up in the last month of the quarter.

 

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