Parametric Technology Corporation (PMTC)
Barclays Capital Global Technology, Media and Telecommunications Conference Call
May 22, 2012 02:25 pm ET
Jeff Glidden - EVP & CFO
Tim Fox - IR
Okay, thanks for joining us for our next session. We've got Jeff Glidden and Tim Fox from Parametric here. You might not know my background. I have been covering the CAD CAM space, so my coverage of that so for quite a long time and so I have been looking at Parametric for quite a while now. Actually I have to say the last six months have been very, very interesting. And just obviously from some of the events that kind of triggered a lot of these in the short term, but some more from the way how we have seen in the same change of management, we have seen a change in focus and that’s something I wanted to explore with you on stage here as well. But you know, I have to say like in spite of that it is mounting a little bit. Let’s just may be you kind of first recap the last few months within the business for you. We had kind of a really very successful start of the year and very interesting Financial Analyst Day and then obviously the trouble around Q1. Initially everyone thought well that's Parametric again, but I have to say frankly that is one of the worst reporting season I’ve seen in software for a long time, especially for Q1. So, maybe let's start with that. So what happened from your perspective as to where we are now and kind of – let's help you understand a little bit things better with what kind of went right there.