Business fell off very late in the period. Overall, we could have done better this quarter but we had two soft weeks. |
Customer spending continues to improve, |
I would encourage you to roll through the over-achievement from the third (quarter) to your full year |
Our pipeline for the first quarter is up year-to-year, with particular strength in our long-term businesses. |
reflect the breadth and flexibility of our business model and put us back on track for the rest of the year. |
The software market remains highly competitive and our fourth quarter results were mixed by geography. We saw double-digit growth in the Americas, where we believe we gained market share in both the fourth quarter and full year. This was partially offset by weaker results in Europe. |
This was a very light hardware quarter for us. |
We do see some strong tail winds, |
We expect services revenue growth to accelerate throughout 2006 to achieve mid-single digit revenue growth in the second half. |
We had really good momentum in short-term signings, and we think that will continue in the second quarter. Long-term signings as we exited 2005 were up 19 percent, and now long-term signings are up 20 percent. All of that bodes well for that business as we go forward. |
We have been shifting our investments to capitalize on the areas where we see the best opportunity. |
We have taken a number of very important actions to improve productivity and reallocate resources to the faster growing areas of the business. |
We'll continue to shift investments to these markets. |