Question-and-Answer Session
Operator
Thank you ladies and gentlemen we will now conduct a question-and-answer session. (Operator Instructions). Our first question comes from Scott Penner with TD Newcrest. Go ahead.
Scott Penner – TD Newcrest
Hi, can you hear me okay?
John Shackleton
Yes we can.
Scott Penner – TD Newcrest
Great just on the license revenue first of all, I think its fair to say was below what would most people were expecting, you said soft relative to your own expectations. I know you don’t normally go to this level of detail, but last quarter you would express some concern with the state of the pipeline in the Vignette business when you where in the midst of acquiring it, do that revenue come in line with that 30 to 40% attrition or was it basically below that for the quarter.
John Shackleton
No, actually on the Vignette side we were pretty much right where we expected it to be most of the shortfall was around our WCM again with customers kind of holding up waiting to see what’s the new roadmap would like, as well we did see a little bit of softness in North America actually mainly U.S.
Scott Penner – TD Newcrest
And do you have any, in taking to your customers, do you have the expectations that once this roadmap is unveil at the User Conference and gets discussed at that backlog will clear up or any sense of how long it’s going to be, until people are comfortable.
John Shackleton
Yes we do, from some of the major customers that we’re taking to, they do what we do feel comfortable probably next, in Q3, we should see things start picking up again, as well as we’re seeing the backlog in general picking up.
Scott Penner – TD Newcrest
Okay and that’s help full and Paul on the cash flow statement there is a couple of items I just want to be clear up the, I think the release, the $4.4 million release of unrealized gain?
Paul McFeeters
Yes
Scott Penner – TD Newcrest
Where is the income item on the income statement?
Paul McFeeters
That’s grouped with other income so its below our adjusted earnings and I don’t include that in our adjusted earnings.
Scott Penner – TD Newcrest
Okay and the unrealized gain on the financial instrument
Paul McFeeters
That’s – actually that’s a reference to our, no our collar is actually interest expense side. We do some forward Canadian dollar hedging. And so that’s actually gain on those forward hedges that’s also in other income.
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