In addition, our comments will cover certain non-GAAP financial measures. These measures are not in accordance with, or an alternative for GAAP, and may be different from non-GAAP measures used by other companies. We believe that this presentation of certain non-GAAP measures facilitates investors' understanding of our historical operating trends with useful insight into our profitability, exclusive of unusual adjustments. Our Form 8-K filed today with the SEC and available from our website,, contains important disclosure about our use of non-GAAP measures. In addition, our earnings release filed with the Form 8-K reconciles our non-GAAP measures to the most directly comparable GAAP measures.

Now, I'll turn the call over to Pete.

Peter F. Sinisgalli

Thanks, and welcome to our second quarter 2012 earnings call. I'll start the call by taking you through an overview of the quarter. Dennis will follow with details of our financial results. I'll return for a general business update and then, we'll be happy to answer your questions.

We're quite pleased with our second quarter financial results and continued to be encouraged about the near-term and long-term prospects. Dennis will provide financial details shortly. But essentially, all of our Q2 financial metrics were good.

License revenue in Q2 was a little below our expectations as a few large deals slipped into Q3. But offsetting the large deal slippage was a strong showing of mid-sized deals, allowing us to post license revenue of $15.3 million.

We had $2-million-plus deals closed in the quarter, both with new customers and led by our Warehouse Management systems. And of the large deals that slipped, none were lost to competitors and we hope to see them all closed over the next few quarters.

Our license revenue pipelines and activity levels for Q3, Q4 and 2013 are all encouraging. Our Professional Services businesses posted another very strong quarter, and our maintenance revenue continues to compound, contributing to our best revenue quarter in history. Strong revenue, combined with tight expense management, allowed us to deliver record earnings as well.

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