There were several large transactions that we had forecasted to close that did not close the largest of which kind of made the difference between performance in the middle of our guidance range and missing the guidance range. That was a large European transaction that was interrupted by the company we were transacting with being acquired by somebody else late in the process and the transaction just being blocked on principal related the acquisition.So that was a disappointing quarter, but inside that license revenue disappointment we actually made pretty good progress against the other elements particularly the margin expansion. So we posted a decent earnings quarter, better than people expected based on the license [mix] and the profit contained in the license.
Parametric's CEO Presents At JP Morgan TMT Conference (Transcript)
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