Question-and-Answer Session
Operator
(Operator Instructions) We will go first to Phil Winslow with Credit Suisse.
Phil Winslow - Credit Suisse
Good quarter. Bob, I was just wondering if you could comment a little bit more on the mainframe side, just what you are seeing in terms of pricing. Clearly in previous quarters you’ve talked about a pretty stable pricing environment. Are you still seeing that? And then as you kind of get closer to your bigger renewal base, just what are your expectations for the trend there? Thanks.
Robert E. Beauchamp
I don’t know that there is any material change in the business dynamic on our mainframe business. We see the competitors that are most likely to drop prices and kind of go for the order with whatever it takes pricing are still doing it. I am not sure they are doing anything more or less than they were, and so I don’t know that I have any real change from the previous time. We are doing a very good job. You can see in our MSM transactions the fact that we were able to really grow the run-rate I believe in all but one of our largest 15 mainframe trend deals, our MSM deals. We actually grew the annualized run-rate -- tells you that we are not only signing customers up again, we are signing them up for more money per year and that’s been a trend that has been continuing for some time. That would be difficult to do if we were seeing any material price erosion.
Phil Winslow - Credit Suisse
Great, thanks.
Operator
We’ll hear next from Kevin Buttigieg with FTN Equity Capital.
Kevin Buttigieg - FTN Equity Capital Markets
Thank you. Obviously you showed a nice improvement sequentially in the quarter. What would you characterize the improvement in terms of the economy or in terms of sales force productivity, if you could sort of break it down both ways? You talked about somewhat of an improvement in sales force productivity but how about on the economy side? And what are you looking at from both of those areas in terms of your guidance for the rest of the year?
Stephen B. Solcher
Okay, so in terms of the guidance, we are assuming what we saw in Q2, which was actually not that much different than Q1 in some respects. We adjusted our filters in terms of our forecasting after the Q1 results to assume that it would be more difficult to close large transactions, that we would have deals that looked good at the end of the quarter that would slip and we just assumed that that would continue but through better sales execution, particularly in Europe, we saw really across Europe, across the major countries in Europe, we saw some very nice BSM multi-product sales occur. People standardizing, you heard several of them in the prepared remarks.
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