Okay, thanks Jim, good morning everybody. I would like to remind everyone on the call that in addition to any risks and uncertainties that we highlight during the course of this call, important factors that may affect our future results are discussed at length in our public filings with the SEC, all of which are also available via our website.
Additionally the company's reported results should not be considered an indication of future performance as there are risks and uncertainties that could impact our business in the future. These statements are based upon our view of the world and our business as of today and ANSYS undertakes no obligation to update any such information unless we do so in a public forum.
Consistent with our standard practice during the course of this call and in the prepared remarks we will be making reference to non-GAAP financial measures, a discussion of the various items that are included in the full reconciliation of GAAP to comparable non-GAAP financial measures are included in this morning’s earnings release and the related Form 8-K and I would also like to remind everyone that the ANSYS team will be hosting an Investor Day in New York, next week on March 1, at the NASDAQ MarketSite in Times Square. Please see the investor relations area ansys.com for details about the meeting and the webcast.
So Jim, I’ll turn it over to you for some opening commentary before we open up for Q&A.
Okay, thanks. Okay so before the Q&A I just like to maybe briefly highlight a few points, I think are particularly significant about the Q4 of 2011 results and also our Q1 2012 outlook. So, I think I got to start by saying that Q4 was just another milestone quarter for ANSYS in most respect. If we saw a continued momentum in various parts of the business that we’ve been investing in and building for the past few years for those of you who have been with us over the years would probably find nothing surprising there. It was evidenced of course by our new record financial performance.