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PROS Holdings Inc Q2 2010 Earnings Call Transcript

Also these statements are based solely on the present information and are subject to risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Please refer to our Form 10-Q, Form 10-K and other filings with the SEC and the risk factors contained therein. Also, please note that a replay of today's webcast will be available in the Investor Relations section of our website at www.prospricing.com.

I would also like to point out that the company's use of non-GAAP financial measures is explained in today's earnings press release, and a full reconciliation, between each non-GAAP measure, in the most directly comparable GAAP measure is provided with tables and company in the press release, distributed early today.

It can also be found on our web site, in the investor relation section, with that I would like to turn the call over to Bert.

Bert Winemiller

Thank you, Charlie, and thanks to those of you listening to our call, we continued to make great progress on our strategic initiatives that will position us to capitalize on the large long-term market opportunities, for our high ROI enterprise pricing and margin optimization software product.

We are pleased with our financial performance in the second quarter of 2010, and especially with the number of new transactions we completed across a wide range of vertical markets, and continued strong maintenance renewal rates.

For the second quarter we are reporting revenue of $17.8 million, which exceeded the high end of our guidance and with our third quarter of sequential revenue growth. Non-GAAP operating income was $2 million for the second quarter, which achieved the high end of our guidance while continuing investments in our products, sales and marketing, and partner initiatives.

PROS is a global company, with revenue diversified across geographies in our target industry sectors. Revenues obtained from outside the U.S. represented 58% of the second quarter 2010 revenue, and 57%, of second quarter license and implementation revenue came from our target industry sectors of manufacturing, distribution and services.

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