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Synchronoss Technologies Management Discusses Q2 2012 Results - Earnings Call Transcript

For a discussion of the material risk and other important factors that could affect our actual results, please refer to those listed in our SEC filings, including our most recently filed annual report on Form 10-K and quarterly report on Form 10-Q.

With that, I will turn the call over to Steve, and I'll come back a bit later to provide some further details regarding our financials and our forward-looking outlook. Steve?

Stephen G. Waldis

Thank you, Larry. Good afternoon, and thanks for joining us on our call today to review our second quarter financial results, which were in the upper half or above the high-end of our guidance.

Our non-GAAP revenues were $67.2 million above the midpoint of our guidance and representing 22% growth on a year-over-year basis. From a profitability perspective, our non-GAAP operating margin of approximately 26% led to a non-GAAP EPS of $0.29, which is above the high-end of our guidance.

Now in addition to today's strong financial results, there are 5 key themes that I want to focus my remarks on today. The first is that there are multiple industry trends that are making it clear that consumers will increasingly look to carriers for cloud-based content management solutions that can and will coexist with those of major device and operating system vendors, and Synchronoss is becoming entrenched as a key enabler of those carrier cloud strategies.

Second, another major expansion of our Verizon relationship this quarter further validates our belief that carriers will be making, and are making, significant investments to their cloud strategies.

Third, we've spent a considerable amount of time with investors this past quarter addressing the status of our AT&T business. And I'm pleased to share that the combination of our progress on existing initiatives are very early advancement into cloud-based services at AT&T, and ongoing dialogue relative to future projects all speak to the strength of our AT&T relationship and long-term growth potential.

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