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Lionbridge Technologies CEO Discusses Q3 2011 Results - Earnings Call Transcript

We are here to manage our cost for investing appropriately in the business and as a result as we grow revenue we expect continued margin improvement and earnings growth. Finally, we generated about 4.5 million in cash flow from operations during the quarter and we ended the quarter with almost 21 million in cash. So, the balance sheet remain strong despite our on-going investments in our software business.

So, q3 was a solid quarter, we grew about 8% year-on-year, 12% excluding the volatility of the timing of things one large technology plan. Our cost management is showing benefits, we are expanding margins and profitability.

So, let’s talk about the revenue opportunities across end markets and various offerings. As you know during the past few quarters we have been investing in a number of growth initiatives to put them in place to accelerate our revenue. We are seeing the results of that revenue growth across various segments. So, we will take them segment-by-segment.

Our GLC language business is generating solid growth. In Q1 GLC grew 6% year-on-year despite its concentration with our largest technology plans. So, let me provide some context.

As you heard from the recent Analyst Day, they shifted spend from a mature product businesses for their newer cloud consumer and mobile initiatives. This is having a short-term headwind on us given our foothold and some of their more mature product groups. But it should give us a longer term positive impact as we won a number of multi-year programs within these new cloud, consumer and mobile businesses. So, we expect those to ramp during ’12. And overtime, it should mean more consistent, less lumpy revenue as these are more business process outsourcing relationships rather than episodic IT services engagements, because they deliver new releases and updates to the market far more frequently.

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