Our discussion today includes forecasts and other information that are considered forward-looking statements. While these statements reflect our current outlook, they are subject to a number of risks and uncertainties that could cause actual results to vary materially. These risk factors are described in Teradata 10-K and other filings with the SEC.On today's call, we will also be discussing certain non-GAAP financial information, which excludes stock-based compensation expense and other special items, as well as other non-GAAP items such as free cash flow and constant currency revenue comparisons. A reconciliation of our GAAP result to our non-GAAP results and other information concerning these measures is included in our earnings release and on the Investor page of Teradata's website, which can be found at teradata.com. A replay of this conference call will also be available later today on our website. Teradata assumes no obligation to update or revise the information included in this conference call, whether as a result of new information or future results. I will now turn the call over to Mike. Michael F. Koehler Good morning, everyone, and thanks for joining us. We were pleased to get off to another strong start again in 2012. Q1 revenue of $613 million was up 21% over Q1 2011 and up 22% in constant currency. This was our highest organic constant currency revenue growth ever achieved in a quarter. Q1 was also the second-largest quarter ever next to Q4 in 2011. Product revenue increased 31% and 32% in constant currency, which set a record for product revenue growth in a quarter. Non-GAAP earnings per share grew 25%, and non-GAAP operating margin of 23.9% was our second-highest quarter ever. Turning to the regions. All 3 regions grew revenue double digits in constant currency. The Americas led the way with $388 million of revenue, which was a 26% increase over our strong Q1 in 2011. New customer wins included BlueCross BlueShield of Tennessee, which purchased a data warehouse and our healthcare logical data model to use as their foundation for their clinical healthcare analytics, along with our partner SAS. Our activity in healthcare is increasing as these organizations are looking to Teradata for advanced analytics to gain insight into clinical, patient, provider and claims information for better medical outcomes and at lower costs.
JEVCO, Canadian insurance company, became our new customer in the quarter as well. JEVCO's IT environment had evolved over the years to include many data sources, data marts and also duplication of data. Leveraging our data warehouse, financial services logical data model and our consulting services expertise, JEVCO is now centralizing and integrating data to a reduce cost and provide better information for market development, risk management and operations.Cars.com, the leading destination for online car shoppers, also selected Teradata in Q1 as their data warehouse provider. And Liverpool, Mexico's largest department store retailer selected Teradata to improve marketing and operations. Customer upgrades and expansions included Supervalu, which added an Aster Data Appliance to their ecosystem of Teradata Analytics solutions. Aster is a complementary extension of their existing Enterprise Data Warehouse and is slated to deliver rapid analytics for large, multi-structured data sets, spanning 8 years of history. A leading U.S. telecommunications company is also adding an Aster Data Appliance to analyze clickstream data in order to improve targeted advertising to mobile devices and more rapidly identify potential customer churn. Southwest Airlines, which is leveraging their EDW to help integrate data from its acquisition of AirTran and to help improve forecasting and revenue management. And at Cincinnati Bell, which is now implementing the Aprimo Marketing Studio On Demand to improve marketing and its wireline and wireless businesses across both residential and business markets. Other upgrades and expansions in the quarter included Arrow Electronics, Comcast, CBS, Kaiser Permanente, Macy's, Safeway, Unilever, WellPoint and Banco Agrario in Columbia. Turning to Europe, Middle East and Africa. Revenue of $136 million was up 9% over Q1 2011 and up 13% in current currency. New customer wins in EMEA included of El Corte Inglés, which is the largest retailer in Spain and is implementing both Teradata's Enterprise Data Warehouse and the Aprimo Relationship Manager. They will use the data warehouse to enable business users to do their own detailed analytics and the Aprimo Relationship Manager to improve marketing campaigns and customer interactions. Read the rest of this transcript for free on seekingalpha.com