Q4 2012 Earnings Call
January 24, 2013 5:00 pm ET
Stephanie Wakefield - Vice President of Investor Relations
Sohaib Abbasi - Chairman, Chief Executive Officer and President
Previous Statements by INFA
» Informatica Management Discusses Q3 2012 Results - Earnings Call Transcript
» Informatica Management Discusses Q2 2012 Results - Earnings Call Transcript
» Informatica's CEO Discusses Q1 2012 Results - Earnings Call Transcript
Brent Thill - UBS Investment Bank, Research Division
Raimo Lenschow - Barclays Capital, Research Division
Mark R. Murphy - Piper Jaffray Companies, Research Division
Tom M. Roderick - Stifel, Nicolaus & Co., Inc., Research Division
Steven M. Ashley - Robert W. Baird & Co. Incorporated, Research Division
Nathan Schneiderman - Roth Capital Partners, LLC, Research Division
Jesse Hulsing - Pacific Crest Securities, Inc., Research Division
Michael B. Nemeroff - Crédit Suisse AG, Research Division
Aaron Schwartz - Jefferies & Company, Inc., Research Division
Edward Maguire - Credit Agricole Securities (USA) Inc., Research Division
Matthew Hedberg - RBC Capital Markets, LLC, Research Division
Gregory Dunham - Goldman Sachs Group Inc., Research Division
Shebly Seyrafi - FBN Securities, Inc., Research Division
Karl Keirstead - BMO Capital Markets U.S.
Stewart Materne - Evercore Partners Inc., Research Division
Steven R. Koenig - Wedbush Securities Inc., Research Division
James Derrick Wood - Susquehanna Financial Group, LLLP, Research Division
Patrick D. Walravens - JMP Securities LLC, Research Division
Good afternoon. My name is Alley, and I will be your conference operator today. At this time, I would like to welcome everyone to the Informatica Fourth Quarter 2012 Earnings Conference Call. [Operator Instructions]
I would now like to turn the conference over to your host, Stephanie Wakefield, Vice President of Investor Relations. Ms. Wakefield, you may begin your conference.
Good afternoon and thank you for joining us today. I'm here with Sohaib Abbasi, our CEO; and Earl Fry, our CFO, to discuss our Q4 and fiscal 2012 results and to talk about our outlook for the business.
I'll read the Safe Harbor and then hand it over to Sohaib for his comments. Some of the comments we'll make today are forward-looking statements, including: Statements concerning our projected financial results for future periods; our growth and operational strategies; our initiatives to address recent challenges and improved performance; our market and growth opportunities; our ability to scale our business; our technology leadership and products development; our product portfolio and product opportunities; customer adoption of and demand for our products and services, including product upgrades, new releases and new products; the expected use of and benefits of -- from our products and services; the expected benefits of our partnerships and acquisitions; our effective tax rate and income tax provision; our pipeline conversion rates; our hiring plans; our international and public sector businesses; our future plans for Heiler Software AG and the timing of the overall process and any associated integration benefits or potential synergies; the impact of Heiler on our future financial results; and our expectations regarding industry trends and macroeconomic developments.
All forward-looking statements are based upon current expectations and beliefs. However, actual results could differ materially. There are many reasons why actual results may differ from our current expectations. These forward-looking statements should not be relied upon as representing our views as of any subsequent date, and Informatica undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date that they are made.
Please refer to our recent SEC filings, including our quarterly report on Form 10-Q for the quarter ended September 30, 2012, for detailed descriptions of the risk factors that may affect our results. Copies of these documents may be obtained from the SEC or by contacting our Investor Relations department.
During this afternoon's discussion, we will be using GAAP and non-GAAP numbers. Our GAAP results and the reconciliation of the GAAP results to the non-GAAP results are attached in the earnings press release and are also available in the Supplemental Metrics section of our Investor Relations website at www.informatica.com/investor.
Before I hand it off to Sohaib, I'd like to remind you that this call is being webcast and it will also be available for replay at the Investor Relations website. [Operator Instructions] Thank you. Sohaib?
Thank you, Stephanie. As we stated last quarter, our top 2 priorities remain the same; regain our operational discipline and resume our growth momentum. Our Q4 results demonstrated good progress on both counts. In Q4, we attained record quarterly revenues, about $230 million and record annual total revenues in excess of $800 million. This afternoon, I will comment on our progress in each major geographic region. Then, after Earl's review of our financial performance, I will discuss technology drivers and our measures that reinforce our confidence in our ability to resume our growth momentum.
Across all regions, under John McGee's leadership, our field organization continues to strive for more consistent results through disciplined sales cadence. These operational changes include: Rigorous customer budget-related deal qualification to improve sales pipeline quality; agile cross-functional resource alignment to expedite deals; and milestone-based multi-quarter pipeline management to better manage future business.
In Europe, with Paul Hoffman as the interim leader, we attained strong results, reflecting encouraging progress towards regaining our operational discipline. Clearly, last quarter, we were more effective in pursuing the sustained customer demand across our entire product portfolio. And with the recent appointment of our new EMEA leader, an experienced and more regarded Informatica executive, we are well-positioned to grow the business in FY '13 and the coming years.
In North America, under new leadership, we attained strong sequential improvement, with successes across multiple vertical segments, including important wins in financial services, public sector, high-tech and energy. And in Asia Pacific, led by strong performance in Japan, we attained solid results and developed business momentum for our new fiscal year. In 2012, we added more than 50 new customers in Asia Pacific.