With us today, we have Jim Heppelmann, Jeff Glidden and Barry Cohen. With that, I'd like to turn the call over to Jim.James E. Heppelmann All right, thank you, Tim. Good morning, everybody. I'm pleased to report that Q4 was a solid quarter with strong results really across the board. Quarterly revenue was a record high for PTC, up 27% year-over-year while operating profit was up 62% from what was a relatively strong Q4 last year. We posted solid growth across our license, maintenance and services lines of business. We delivered in the quarter a good balance of Desktop and Enterprise growth, and we believe that the improvement we've seen in our Enterprise growth rates, starting back in Q3 and continuing now into Q4 reflects the effects of our effort to ramp sales capacity as we've been discussing. We won 3 new domino accounts in Q4, and with that, we succeeded in reaching our goal of 30 for the year. Additionally, there were a couple of substantial deals that we were pursuing in Q4 that were completed actually in Q1, so we're off to a good start here already in fiscal year '12. We posted a good overall year in FY '11 with momentum in growth rates increasing throughout the year and leading to an all-time annual record revenue growth rate of revenue level for PTC of $1.17 billion. On the earnings front, our non-GAAP EPS growth rate of 26% topped last year's 25% EPS growth, meaning that we've now exceeded our 20% EPS growth goal for a second year in a row, and we've moved a bit further ahead of the pace required to hit our $2 per share EPS target in 2014. There were some other important transformations that happened in FY '11 that has set us up well for FY '12 and beyond. First, the new leadership team is in place and working well together. As you know, over the last 2 years, we put in place a new CEO, a new CFO, a new EVP is heading up the sales, services, R&D and marketing organizations. In that same timeframe, we've restructured the Board of Directors and brought in 4 new members that had significant enterprise software experience and combined them with some of the previous talent that we've retained from the manufacturing industry and from academia. So the new board is functioning well, and they have a laser focus on increasing shareholder value.
In FY '11, we launched a new generation CAD offering called, Creo, and that product went on to see growth that far exceeded our expectations at the beginning of the year. While much of that growth can be attributed to a better economy and the rebounding cash spending levels, we believe that at steady state, this new technology will add 3 to 5 points to the low single-digit growth rates that we had been forecasting a few years ago prior to the advent of Creo.In the prior lifecycle management, our PLM arena, we launched Windchill 10.0, which was really a very significant major new release of what has become our flagship offering. Windchill 10.0 is a product that customers find to be very compelling, due to both substantial improvements and ease of use in adoption as well as a lot of new capabilities, like product analytics and quality lifecycle management. On a related note, I'm pleased to report that the Hyundai Kia implementation is going well, and we're on track to complete Phase 1 of the HKMC Enterprise PLM initiatives by calendar year end. We had have a big year in the retail and consumer industry, with important new wins that customers like Sears, Ralph Lauren, Esprit, Dick's Sporting Goods, Tommy Bahama and a long list of other major retailers. These customers have turned to PTC for help in the optimizing product development across very distributed global supply chains. The retail vertical continues to be very strong growth driver for PTC, and we think that this supply chain optimization solutions that we pioneered for these retail customers represented incremental growth opportunities for PTC in the coming years as we introduced the same capability back into some of our traditional verticals like electronics, industrial, aerospace and automotive, who also have globally distributed supply chains helping with product development. Read the rest of this transcript for free on seekingalpha.com