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Hamish Brewer

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We closed 100 software license deals in fourth quarter including three deals in excess of $1 million. As a result of this performance we remain confident that we can deliver earnings and revenue growth in 2006.

This result is certainly less than we expected and was primarily attributable to a significant number of deals that slipped into 2006.

We remain confident in the prospects for earnings expansion in 2006 and will discuss this in more detail during our normally scheduled earnings call on Jan. 23.

We have greatly valued our relationship with Belk as a partner, customer and active member of the JDA user community. We are excited that they have chosen to extend our relationship and look forward to helping them achieve the results that our proven software can deliver at the lowest total cost of ownership.

This deal is as close to a perfect match as you can get for an acquisition of this size.

As far as a financial clean-up operation, this is going to be the biggest one we've undertaken. Even though it's significantly larger in scale, though, it's nothing we haven't done with our previous acquisitions.

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