All forward-looking statements are based on current beliefs and expectations. However, actual results could differ materially. There are many reasons why actual results may differ from our current expectations. These forward-looking statements should not be relied upon as representing our views as of any subsequent date, and Informatica undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date that they are made. Please refer to our recent SEC filings, including our annual report on Form 10-K for the year ended December 31, 2011, for detailed descriptions of the risk factors that may affect our results. Copies of these documents may be obtained from the SEC or by contacting our Investor Relations Department.During this afternoon's discussion, we will be using GAAP and non-GAAP numbers. Our GAAP results and the reconciliation of the GAAP results to the non-GAAP results are attached in the earnings press release and are also available in the supplemental metric section of our Investor Relations website at www.informatica.com/investor. Before I hand it off to Sohaib, I'd like to remind you that this call is being webcast and will also be available for replay at www.informatica.com/investor. [Operator Instructions] Sohaib? Sohaib Abbasi Thank you, Stephanie. In Q1 2012, we attained a record first quarter revenues and record first quarter earnings. This afternoon, I will comment on the key business drivers for our first quarter results. After Earl's presentation of our financial results, I will describe our key initiatives for both our long term and more immediate growth plans. Total revenues grew by 17% year-over-year to $196 million. New license revenues grew 12% to $80.1 million. With non-GAAP EPS of $0.35, we achieved the most profitable first quarter to date. Our Q1 results reflect both our compelling customer value proposition to maximize return on data and as reported by others as well, the continuing macroeconomic uncertainty in Europe.
In Europe, with the appointment of a seasoned new leader in April, we believe we are better positioned for the second half of 2012 and beyond. In the Americas, particularly in the financial services vertical, we benefited from the improving macroeconomic environment as well as from the leadership changes we implemented in the second half of last year. In Asia Pacific, our results vary by country from recovery in Japan to consistent growth in other countries. Our value proposition for customers is to maximize return on data by increasing the value of data and decreasing the cost of data.As illustrated by our customer wins around the world, this value proposition is well aligned with our customers' top priorities across a variety of macroeconomic conditions. In Europe, Netbook Rail, the Association of Passenger Train Operating companies in Great Britain selected the Informatica Platform for its strategic project named ORBIS. The primary goal of ORBIS is to improve safety of its train tracks. Using Informatica, Netbook Rail will build a complete registry of all assets across its entire train-track infrastructure. Armed with trustworthy and qualitative data and assets and GPS-based locations, engineers will be more effective and efficient in detecting and correcting calls in a timely manner while reducing costs associated with penalties for safety oversight. In the Americas, a CPG leader selected Informatica over other alternatives for its strategic enterprise-wide MDM initiative. To improve customer satisfaction and reduce cost, the customer plans to address the top 20 data quality issues that are costing millions of dollars due to a variety of consequences, such as lines were delayed or incorrect shipments and penalties for incorrect taxation. With Informatica, they expect to address these data quality issues and equally importantly, implement data governance procedures to proactively prevent rather than reactively remediate data quality issues. As another example, Condé Nast selected Informatica for managing mass data for both products and customers. Read the rest of this transcript for free on seekingalpha.com