FacSet Research Systems Inc. (FDS) Q1 2012 Earnings Call December 13, 2011 11:00 AM ET Executives Rachel Stern - SVP, Strategic Resources and General Counsel Peter Walsh - COO Mike Frankenfield - Global Direct of Sales Phil Hadley - Chairman and CEO Analysts Peter Appert - Piper Jaffray Peter Heckmann - Avondale Partners Shlomo Rosenbaum - Stifel, Nicolaus Dave Lewis - JPMorgan Chase John Neff - Akre Capital Management Robert Riggs - William Blair Operator
Welcome, and thank you for standing by. (Operator Instructions) I would like to introduce your host for today’s call, Rachel Stern, Senior Vice President, Strategic Resources and General Counsel. You may begin. Rachel Stern Thank you, operator. Good morning, and thanks to all of you for participating today. Welcome to FactSet’s First Quarter 2012 Earnings Conference Call. Joining me today are Phil Hadley, Chairman and CEO; Peter Walsh, Chief Operating Officer; and Mike Frankenfield, Global Director of Sales. This conference is being transcribed in real-time by FactSet’s CallStreet service and is being broadcast live via the internet at factset.com. A replay of this call will also be available on our website. Our call will contain forward-looking statements reflecting management’s current expectations based on currently available information. Actual results may differ materially. More information about factors that could affect FactSet’s business and financial results can be found in FactSet’s filings with the SEC. In an effort to provide additional information, our comments include non-GAAP financial measures. The non-GAAP measures we will discuss today have been reconciled to the related GAAP measures in our earnings press release and our SEC filings. Annual Subscription Value or ASV is a key metric for FactSet. Please recall that ASV is a snapshot view of client subscriptions and represents our forward-looking revenues for the next 12 months. Lastly, FactSet undertakes no obligation to update publicly any forward-looking statements as a result of new information's, future events or otherwise.