FactSet Research Systems Earnings Call Insights: Buy & Sell Side ASV, Gross Margins
Buy & Sell Side ASV
Shlomo Rosenbaum – Stifel Nicolaus: Peter, just doing the math and kind of backing into buy side ASV versus sell side ASV. It looks to me that the buy side ASV growth improved sequentially, first I just want to confirm with you is that correct or not correct?
Peter G. Walsh – EVP and COO: I think that math is correct Shlomo.
Shlomo Rosenbaum – Stifel Nicolaus: Since that is correct, would you take that as an indication that we are starting to see the beginnings of a turn on the buy side in terms of hiring, what would you attribute that to or is it more of a willingness for people to buy product than we had seen before and acknowledging it’s a challenging environment, but we are seeing a little bit of change there?
Philip A. Hadley – Chairman and CEO: I just want to make two points. One, I saw some research written this morning where people are using our buy side percentage and our sell side percentage and we are obviously putting out a pretty round number there, and I think the round number is definitely to sort things (slightly). But the answer to your question more specifically. I think we are definitely sitting times of hiring, but it’s not one of those things where it feels like a market of several years ago.
Shlomo Rosenbaum – Stifel Nicolaus: I understand that, but just to make sure what Peter said is accurate that you have seen a step up in – growth from buy side…