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Thanks everyone for joining us. My name is Sterling Auty Software Technology Analyst here at JPMorgan; very happy to have with us for another session Geoff Ribar who is the Chief Financial Officer of Cadence.
I am going to go ahead and turn the microphone over to Geoff just to give a brief introduction. I am going to start off with some questions to get us started and bringing the audience questions in very quickly.
With that Geoff?
Hi everybody. So just to brief on Cadence; Cadence is one of the leading EDA companies. EDA companies for those of you don’t know, are unaware. The companies that help chip vendors to build their products; probably the most important part of their chain after their design conception is -- actually the software that we build, our competitors build to allow our customers to build their products.
Cadence has been around for quite a number of years; I think we have had a couple of major management change about three years ago where Lip-Bu Tan came in as CEO. Lip-Bu is vastly experienced in the semiconductors business and in the EDA business and I think over the past three years you’ve seen pretty material changes in the company’s performance, strategy, execution which I think is showing up in our financial results.