Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Steven F. Crowley – Craig-Hallum Capital.
Steven F. Crowley – Craig-Hallum Capital
I may have been a little crossed up or there may have been a timing difference that added or that altered the deferred revenue add back in the quarter. I’m looking at your performance in the quarter relative to my estimates and you were actually stronger than our top line estimate by a bit in GAAP revenues but a little bit under in non-GAAP revenues and the variance was obviously that add back. Was there any timing differences with the closing of the Covance deal or any other factors that affected that add back?
Christopher Menard
It’s not so much the timing. As you know when you go to do the reduction between GAAP and non-GAAP you do things like go out and get an appraisal and you verify the backlog and make sure things are being set at appropriate margins and we had probably misestimated a little bit the amount of haircut from Maaguzi and Covance.
Steven F. Crowley – Craig-Hallum Capital
So it was really a bookkeeping adjustment there that caused that variance?
Christopher Menard
Yes, as you go through the appraisal process but our GAAP revenues were pretty much in line in Q3 to what we had guided at the start of the quarter.
Steven F. Crowley – Craig-Hallum Capital
Now, a question for you Bob, you highlighted the success you had with a leading provider of information technology consulting and business processing outsourcing. You implied in the press release that their efforts with you were targeted at a particular top 10 pharmaceutical customer, I believe a particular customer. Do you envision getting a substantial portion of their business with that customer or that customer group, a majority of the business? Help us understand what you have in motion with those guys please?
Robert K. Weiler
Essentially we find a number of trials with them and they were all of a very large scalable nature and we signed them, we’re building them, we’re implementing them and I think as our performance against those trials get stronger, I would hope, but, I have no indication so I’m not going to mislead, I have no indication of them getting all the trials or staying with multiple trials. The factor is they looked at our GTM product, they liked it, they liked the architecture, they like the scale and wanted to go our direction. But, I cannot imply all trials or any percentage.
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