FUNDtech Limited Q3 2009 Earnings Call Transcript

FUNDtech Limited (FNDT) Q3 2009 Earnings Call November 2, 2009 8:30 AM ET

Executives

Margie Petrasek – Investor Relations
Reuven Ben-Menachem – Chief Executive Officer
Michael Sgroe – Chief Operating Officer
Yoram Bibring – Chief Financial Officer

Analysts

[Tom Erhlich – RBC Capital Markets]
John Kraft – DA Davidson
George Sutton – Craig-Hallum Capital Group
Raghavan Sarathy – Dougherty & Company
Gil Luria – Wedbush Securities

Operator

Welcome to the FUNDtech third quarter 2009 operating results conference call. Today’s call is being recorded. (Operator Instructions) At this time for opening remarks and introductions, I would like to turn the call over to Margie Petrasek.

Margie Petrasek

Good morning everyone and welcome to FUNDtech Limited’s third quarter 2009 financial results conference call. As a reminder, today’s call is being recorded. Joining me on the call are the Chief Executive Officer, Reuven Ben-Menachem, the President and Chief Operating Officer, Mike Sgroe, and the Chief Financial Officer, Yoram Bibring.

As a reminder, some of the comments made in this call by management including any guidance about further or future periods and the responses to your questions may contain forward-looking information. Such statements are subject to the risks and uncertainties as described in the Safe Harbor language in the company’s press releases and filings with the SEC. Please refer to this Safe Harbor language contained therein. The company has no duty to update such forward-looking statements.

I would now like to turn the call over to Mr. Ben-Menachem.

Reuven Ben-Menachem

Good morning everyone. During the third quarter of 2009 we started to see improvement in market conditions as we started to receive large orders from our high end customers and our revenue exceeded the high end of our third quarter guidance and reached $30.6 million.

As you can tell from our fourth quarter guidance, we