Robert S. KeaneCertainly. Robert speaking here. When you say run rate, run rate into the future years, are you speaking about the investment? Carter Malloy - Stephens Inc., Research Division Correct. You guys, I think, in the slides, pretty deep in the slides called out about $12 million in incremental investment or unexpected investment this year. So just help us understand the rationale behind the incremental investment and what now. Robert S. Keane Sure. So -- and so this is something which we spoke about probably for the last 2 years as a adjacency in which we believe there was an opportunity for us to grow. If I step way back, Vistaprint has been very successful as a company going into multiple international markets. We're in well over 20 countries and we have roughly 50% of our revenues outside of the United States today. And we -- when we went into the APAC region, broadly that was 3 or 4 years ago, we focused on the Australian market primarily because it was a -- albeit a smaller market, it was a -- more similar to the markets in Europe and North America where we've been successful. But we always saw that as a stepping stone towards the Asian markets. A year ago when we talked about adjacencies to our core business where we'd like to build foundations for future growth, we spoke about this. And at the time, we had reached an agreement, although we had not yet closed, on the PrintBell deal in India. That closed in November. At the same time, we were -- although we didn't talk about it publicly, we were in discussions with a number of people in China and we were in a strategic review of the Chinese market. The reason it took so -- until now is really because we really wanted to make sure we were going down the right path at the right speed rather than going there too precipitously. We also took a lot of time to recruit senior executive teams who are based in Singapore, who had deep experience with Western technology companies in the Asia Pacific markets like India and China, albeit our President there, our legal teams, our high-end [ph] teams, our technology teams and the like. So referring to your question, we spent roughly $5 million in Asia last year in these types of investments, and this incremental investment you talk about is beyond that. We don't talk about the specifics of what we see the profile being in the out years beyond FY '13. That's not something we're disclosing. But we do not believe it will be accretive in the near term. This -- we view this as a -- potentially the largest market we ever will be in the long term but this is a long-term investment. And when we talk about our 5-year aspirations from an earnings perspective, we think the aggregate of the various moves into adjacencies, be it the Webs acquisition, the Albumprinter acquisition or this Asian acquisition, will be accretive in the 2016 time frame. But we have not run into more detail and we're not disclosing at the time what our expectations are for the FY '14 to '16 investment in Asia specifically, other than we certainly do not expect it to be profitable at that time.
Carter Malloy - Stephens Inc., Research DivisionOkay. And then also can you piece apart any of the revenue outlook for us in terms of your 3 geographies and, obviously, a lot questions around Europe and your expectations there, importantly even, external of economic factors, when you expect this -- the best practices implementation, user interface, cross-sell reduction, those types of things, to have a positive accelerant -- or accelerating impact on growth there? Robert S. Keane The high-level numbers -- just to put in perspective, right? It sounds like you already have read this from the press release, but Asia Pacific grew 33% year-over-year in the quarter; the American -- or North American business, 18%; and the European business, 11%. The 11% was a major tick-down from prior rates and, at a year rate, was quite a bit stronger than that. We do see the application of those best practices that we are -- we've learned in North America. We've -- we're still developing in North America something which we can apply into Europe. But it is a different market in a sense that we have 17 different market to get into your major markets, 5 or 6, that we need to apply those learnings into. And it is -- it's not a black-and-white application, it's a balance of tone and messaging and pricing and product positioning. So we see the next year as an important time frame to address it. We were disappointed with Europe's performance but we don't see this as a 1- or 2-quarter return back to the high teens. Read the rest of this transcript for free on seekingalpha.com