Our pipeline for the first quarter is up year-to-year, with particular strength in our long-term businesses.

We have taken a number of very important actions to improve productivity and reallocate resources to the faster growing areas of the business.

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.

We expect services revenue growth to accelerate throughout 2006 to achieve mid-single digit revenue growth in the second half.

I would encourage you to roll through the over-achievement from the third (quarter) to your full year

Customer spending continues to improve,