Pegasystems' (PEGA) CEO Alan Trefler on Q3 2016 Results - Earnings Call Transcript

At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. It is now my pleasure to introduce your host Ken Stillwell, CFO and Senior VP of Pegasystems. Before we begin, I'd like to read our Safe Harbor Statement. Certain statements contained in this presentation, including but not limited to, statements related to future earnings, bookings, revenue and mix of license revenue may be construed as forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. The words expects, anticipates, intends, plans, believes, could, estimates, may, targets, strategies, intends to, projects, forecasts and guidance, and other similar expressions, identify forward-looking statements, which speak only as of the date the statement was made and are based on current expectations and assumptions. Because such statements deal with future events, they are subject to various risks and uncertainties. Actual results for the fiscal year 2016 and beyond could differ materially from the Company's current expectations. Factors that could cause the Company's results to differ materially from those expressed in the forward-looking statements are contained in the Company's press release announcing its Q3 2016 earnings, and in the Company's filings with the Securities and Exchange Commission, including its quarterly report on Form 10-Q for the quarter ended September 30, 2016, its Annual Report on Form 10-K for the year ended December 31, 2015 and other recent filings with the SEC. Although subsequent events may cause the Company's view to change, the company undertakes no obligation to revise or update forward-looking statements, whether as a result of new information, future events or otherwise, since these statements may no longer be accurate or timely. And with that, I'll turn the call over to Alan Trefler, Founder and CEO of Pegasystems. I'm pleased it was a strong Q3, overall. Q3 is generally provide limited visibility given vacations and schedules especially in Europe. And I had spoken about Brexit on the last call and I'm pleased to say that concerns have not materialized with the exception of currency of course. And I'm pleased to see the continued progress we're making towards having less lumpy quarters despite the inherent lumpiness of this business, even in the face of those currency headwinds. Those currency headwinds caught a couple of points off of our results.