We intend to make forward-looking statements based on management’s outlook as of today. We do not intend to update these statements until the release of Openwave’s next quarterly report and disclaim any obligation to do so prior to that time. We reserve the right, however, to update the outlook for any reason during the quarter.I would like to note that during the discussion of the financial results, unless otherwise indicated, gross margin expense and earnings-related items are recorded on a non-GAAP basis, which excludes stock-based compensation, certain realized losses and impairments on investment, amortization of intangibles, restructuring expense, discontinued operations and amounts related to unusual events. Please access our financial metrics summary, which is available on the Investors Relation section of openwave.com to review Openwave’s historical financial performance and reconciliation of the non-GAAP measures we report to the corresponding GAAP measures. And with that, I’d like to turn the call to Mike. Mike Mulica Thanks Mike, good afternoon, every. Before we dive in, I want to take a minute to thank Ken Denman, on behalf of the board and management team, for his many contributions to Openwave over the past three years. I’m excited to be back to Openwave. As many of you, I was an early employee of Phone.com, which became Openwave after it acquired Software.com. Since then, I’ve served as an executive at several companies in the mobile industry, including CEO of FusionOne, a leader in mobile content portability which was acquired by Synchronoss. I was interested in returning to Openwave because I see many valuable assets across the business. I believe we have significant opportunities to drive shareholder value, but urgency is required as the current status quo is not sustainable. Although I’ve been back at Openwave only a few weeks, I’ve spent significant time familiarizing myself with the company in an effort to quickly create a go forward plan. I believe the company’s recent under performance has been driven by a lack of focus and a lack of proper execution.
The first change I intend to implement is a streamlined and unencumbered operating model, with the primary focus on controlling cost and preserving cash. We also intend to implement a rigorous review of the messaging, mediation, and IP portfolio businesses, each of which are very different. So we will be looking to group them into asset classes in an effort to narrow our focus and drive increase cost efficiencies.I believe Openwave has high value assets that we can monetize to build a very valuable company. Now, the most significant asset is our intellectual property, as evidenced by our agreement we announced today with Microsoft. Let me spend a few minutes covering our patent, and discussing why we think they’re valuable. As you know, Phone.com and later Openwave, invented the mobile Internet. Since then, the company has built a patent portfolio with many inventions covering Smart devices and Cloud technologies amongst others. We currently have approximately 200 patents, many of which we believe are foundational, to the ability to get Internet protocol signals on to and off of mobile devices. Our intellectual property is essential to the mobile Internet as we know it today. There are several options we are pursuing in terms of our patent moderation. We’re pursuing a multi-prong patent moderation strategy, which ranges from direct licensing of our patent, litigation, and partnering with an intellectual property specialist. In our announcement today, Microsoft licensed our entire patent portfolio, which was because they recognized it’s value. We believe this type of deal is one that we will replicate with many other companies we believe are also using our technology. Read the rest of this transcript for free on seekingalpha.com