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Retalix's CEO Discusses Q4 2011 And Year-End 2011 Results - Earnings Call Transcript (Prepared Remarks)

Other wins this quarter included multiple new logos across our geographies, including wins for our products, services and software-as-a-service payments offerings.

We also completed significant milestones for our customers during this quarter, including as you saw in our January press release which announced a successful initial pilot with Tesco of the Retalix 10 Store Suite software.

The strong market response for our offerings is continuing to build demonstrated by the largest ever attendance of retailers and partners at our Synergy User Conference. It took place in November in Dallas. Participation rose by 10 percent versus 2010 and included presentations by major retailers, partners and leading industry analysts.

Moving to our full year results, through consistent and solid execution of our strategy we achieved solid double-digit growth in 2011. This morning we reported new records for both total revenues and Non-GAAP net income for the year. As we said last quarter, we expected to exceed our guidance for 2011 as our growth engines began to contribute consistently across our markets and geographies.

Revenues were up 13.8 percent in 2011 to a total of 236 million dollars. Net income non-GAAP was up 13.9 percent to 19.4 million dollars and GAAP net income was up 26.9 percent to 13.7 million dollars in 2011.

We also generated strong cash flow from operations and maintained a strong balance sheet with no debt.

All of the achievements in 2011 demonstrates that our strategy is creating strong results for Retalix and highlights that we have successfully positioned the business for the future.

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