I will take that. And before we start, I am going to have Tim just give us a little few comments on any comments we make today.
So spare with me, but today’s presentation and Q&A may include forward-looking statements regarding PTC’s products or anticipated future operations or financial performance. Any such statements will be based on our current assumptions of PTC’s management are subjects to risks and uncertainties that could cause actual events and results to differ materially. These risks and uncertainties are on our Form 8-K, 10-K and 10-Q on file with the SEC.
Alright now, back to the question. So just to be clear, this is really, we just reported our second quarter, so our fiscal year-end September. So, maybe perhaps, let me back up a little bit and say, we ended the fiscal year 2011 very strongly, had a very good year, revenues were up 16%, earnings were up 26% and our fourth quarter was very strong. We continued that with a very strong Q1, over-performed and over-delivered in Q1 and then disappointed in Q2.
So, from a context from the mid-year point, we’re still on a very nice track. So we had a disappointing Q2 with revenues up 12% and earnings up 15% which was below our guidance. So but it was still an up quarter for us. At the mid-year point our revenues were up 16% and earnings were up 35%. So we feel that we’re on the right track and I think the discussion we’ve had is we have a lot of large enterprise customers, very large customers that are key to our business and while we do disclose large deals, we also disclose what we call mega deals. And a mega deal for us in $300 million quarter, these are significant where a customer will buy $5 million of license software or greater.