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Concur Technologies Management Discusses Q3 2012 Results - Earnings Call Transcript

We are now on Slide 1. Our speakers for the call today are Steve Singh, our Chairman and Chief Executive Officer; Rajeev Singh, our President and Chief Operating Officer; and Frank Pelzer, our Chief Financial Officer. After our prepared statements today, we will host a brief question-and-answer session.

Please now advance to Slide 2. Before we get started, we want to remind you that during the course of this conference call, we will discuss our business outlook and make other forward-looking statements regarding our current expectations of future events and the future financial performance of the company. These forward-looking statements are based on information available to us as of today's date and are subject to risk and uncertainty. We encourage you to review the details on the Slide 2 and our filings with the Securities and Exchange Commission, which are available at sec.gov, for additional information on risk factors that could cause actual results to differ materially from our current expectations and the forward-looking statements expressed or implied during this conference call. We assume no duty or obligation to update these forward-looking statements even though our situation may change in the future.

Please now advance to Slide 3. At this time, I'd like to turn the call over to Steve Singh. Steve?

S. Steven Singh

Thanks, John. Good afternoon, everyone. Before we get started, I wanted to share a small milestone. 19 years ago today, Mike Hilton, Raj Singh and I started Concur. So it gives me great pleasure to report that we had an incredible quarter.

Revenue, earnings, operating margin, as well as operating and free cash flow were well ahead of our expectations. New customer growth continues to be very strong as we signed more than 1,000 new customers in the quarter. We also signed what we believe to be the largest enterprise cloud applications contract ever awarded, a $1.4 billion, 15-year contract with the GSA.

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