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Overall Demand Environment
Matt Summerville – KeyBanc Capital Markets: I just wanted to clarify something, Brian, on Sunquest. That 12 to 14 is that a GAAP number that will have under GAAP rules the deferred revenue adjustments. I just want to make sure I have that right?
A Closer Look: Roper Industries Earnings Cheat Sheet>>
John Humphrey – VP and CFO: Matt, this is John. That’s a non-GAAP number. So as you are probably aware, like an awful lot of software companies, Sunquest has deferred revenue for the annual maintenance; they get paid in advance for that. The accounting rules upon acquisition will require us to take a write-down of that so to basically move that deferred revenue to fair value and then over the next 12 months as those renewals happen, that deferred revenue will build back up. So the $0.12 to $0.14 is a non-GAAP number and as we are able to estimate exactly what that deferred revenue fair value adjustment is, then we’ll be able to provide that for you. We won’t be able to do that until after we close the business, but we will be providing that insight each quarter, so you are able to reconcile between the GAAP numbers and then the non-GAAP numbers that we think right, better visibility in understating the operations of the Company.
Brian D. Jellison – Chairman, President and CEO: Matt, (the great as those), the cash is the cash.
Matt Summerville – KeyBanc Capital Markets: Absolutely. Brian, can you maybe spend a minute talking about just more broadly for Roper, as you moved thorough Q2, how would you characterize the overall demand environment for your businesses and then how are orders so far in July from what you have seen?
Brian D. Jellison – Chairman, President and CEO: I think really the quarter from an organic – we wouldn’t have given our self so much of a shot that have 7% organic orders in the quarter, that was a pleasant surprise, but we got really strong pull activity that we – we knew we are eventually coming here with necessarily say in the quarter so that helped. I think we entered the quarter with more concern and turned out to be justified, so those any like early indicators, things that would make us nervous that would be in Energy or Industrial, we really haven’t seen that. There is just a little bit of activity, mostly in petrochem and oil and gas that we are going to do some very modest internal retrenchment on. But on balance it is pretty good. We never really talk about a quarter in which we are in, but I would say things remain pretty descent. We are going to expect organic growth actually kind of picked up in the second quarter and we would expect it to continue to be mid-single digits really for the rest of the year. So, it is really kind of better than we expect because there is more European headwinds than we would have originally forecasted.
Matt Summerville – KeyBanc Capital Markets: How much was your European business down in the quarter?
John Humphrey – VP and CFO: It was down 18% for us in total, about half of that is just due to currency though, so there will be 8% or 9% on an organic basis. There were number on that, Matt, is that those include the headwind associated with Gaz de France. So, that’s kind of 5 million, but even which you take that out we saw a decline in Europe that was definitely mid-single digits.
Mark Douglass – Longbow Research: So, on Sunquest, Brian, you talked about there is a lot of wide space. You talk about what that would look like I mean there is market share shift and it is just underpenetrated as far as the clinics and hospitals, there is geographies?
Brian D. Jellison – Chairman, President and CEO: Well, I think we don’t want to tip-off other people to things that we think are available to us but it would be safe to say that we think that they can continue to grow share at the expense of other people. We think people have been paying a lot of attention to electronic health records and companies that are in the EHR space. Here again, we have picked out a niche that we think is unrelated to that activity and this niche has got an opportunity, very high return, where people are investing in this in the hospital space, and in the clinic space, and in private care space. Basically lab work is critical to every aspects of people diagnosing folks and it happens in a variety of different places. We think we have the preeminent technology to do that, and we think we can make people more productive and more efficient than what they do when they do it. It has been hard I think the last couple of years to get the attention of hospitals that have had these mandates to do a variety of thing around health records. Now they get a chance to make an investment in things like this business. So it will give them an actual return. So we think it’s got pretty exciting growth and these guys, they have brought in a new sales executive, a women who we have great confidence in, that we think is going to drive better focus on organic growth. It’s been a very high cash contributor, you know, it’s same old situation, private equity has done in this case a really amazing job with this business versus what they acquired in ’07, but it can grow more and it has – it does have opportunities for share gain and expansion around the world. I think this business it doesn’t do much in certain portions of the world and we do a lot in other portions of the world than they do. It’s also got an incredible development team in Bangalore and that’s very, very bullish for us.
Mark Douglass – Longbow Research: Then (I don’t want to give) too much away on them I suppose. What are the industry at least typical growth rates, what kind of returns are you assuming as you model it out over the next three to five years?
Brian D. Jellison – Chairman, President and CEO: For Sunquest kind of thing?
Mark Douglass – Longbow Research: Yes.
Brian D. Jellison – Chairman, President and CEO: I think you’d ought to – it will grow its cash and EBITDA at double-digits. Your forward revenue is probably going to go up by 10%. We would think over time that it grows revenue – remember, it got this massive recurring business, right. So, in fact new business won’t look like the high number. So, if you have got a $200 million of constant business it could grow its net new business by 20% and it’s quite a big number on the core business. So, it’s not like looking at a cyclical company that’s up and down and looking at various trends this is just as, you know it starts with its Q4 and then each quarter gets better all the time.
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