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Retalix's CEO Discusses Q2 2012 Results - Earnings Call Transcript (Prepared Remarks)

Our services offerings, including Systems Integration, also continues to generate strong results. This quarter we won a large, multi-year managed services program from a Tier 0 retailer. This is significant in that it is our first managed services contract and demonstrates our success in expanding the long-term strategic relationships that we have with retailers.

Our Connected Payments Software-as-a-Service solution is also performing nicely. We are winning Connected Payments business, including a Tier 0 retailer this quarter, and deploying this offering for a broad range of retailers.

Our wins this quarter, including the managed services deal, highlight the opportunities in our business model. Our model creates value for retailers by combining innovative products and leveraging our unique product and domain expertise with product-led services. We are helping retailers create a fully integrated, multi-channel environment that differentiates their shopping experience for consumers and improves store operations.

In a moment I will talk in more detail about our progress this quarter and how we are working to leverage these strengths to realize the opportunities in the market. Before that let me hand the call to Sarit who will review our financial results in the first half of 2012.

Sarit Sagiv

Thank you Shuky.

Retalix continued its solid financial performance with good results for the second quarter and the first six months of 2012.

Total revenues were up 18 percent in the second quarter to $68.2 million dollars versus $57.8 million dollars in the year ago second quarter. For the first six months of 2012 total revenues are up 20 percent to 133.9 million dollars versus the year ago period.

Looking at the revenue mix in the second quarter, software and hardware revenues were each approximately 10 percent of revenues, maintenance revenues derived from our products were 25 percent, and professional services including our SaaS revenues were 56 percent of total revenues. The fluctuation in license revenues quarter to quarter was expected and as we mentioned on the previous call some of the fourth quarter 2011 wins were reflected in first quarter 2012 license revenues.

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