Burke, call. our Good then afternoon, Operating will marketplace our everyone, I'll the start highlights. operational Vince. to of and with will you, Officer, with Thank numbers. Mike me welcome Zane President, follow highlights Chief the review a and provide Nill, results, our And observations.
Turning to our results.
in QX and guidance ranges flow, were While earnings record disappointing. revenue included our our in cash booking results
QX billion were from below down and XXXX, in in of guidance billion, range the $X.XXX our $X.XXX bookings for QX quarter. Our
primarily expect the that though did original discuss, we will with were Zane the would our QX year back for expectations. put shortfall not the forecast deals in As to that line a performance bookings quarter was several that large through, strong come due
Our decline revenue resale. quarter maintenance, software over offset from billion in which revenue year the quarter billion, Revenue XXXX, at and in a reimbursed services sales revenue was license systems $X.XXX growth ago. was the of and Systems $XX to in composition QX being X% million and support $XXX $XXX in $XX.XXX in technology partially up of for in QX quarter with X% QX XXXX. by million is travel. subscriptions was compared $XXX million a for up is up backlog billion, into in sales, which the X% $XX.XXX The million
down was impact margin, QX our including resale dynamic technology percent the total XX% up had of of from of similar This which third-party basis mix to technology up system points XXXX, points in down sequentially and resale; lower margin. XX.X% and XXX in was Our to a on of QX XX levels due the sales XXXX, lower due XX.X% the from basis margin gross software year-over-year.
Moving increased is services, was to revenue the QX and services. up quarter, X% maintenance of professional X% line to Support for including XXXX. with and expectations. which revenue, Total compared in managed services
Looking revenue the at segment, revenue ago geographic revenue $XXX billion X% million to domestic increased over and by $X.XX year increased of XX%. quarter non-U.S.
Now, margin I'll and earnings. operating spending, net discuss
For compensation expense, and adjustments, deferred acquisition-related we revenue adjusted items, GAAP amortization, reconciled compensation earnings which acquisition-related provide to these acquisition-related detailed items, share-based service adjusted The other adjustments, both permanent release. or are share-based in results. and exclude non-GAAP tax results health our GAAP and
Adjusted associates GAAP period. $XXX third QX driven to of items. Looking XXXX. revenue-generating operating ago primarily quarter million quarter up million an – were operating related increase were up expenses ago growth compared personnel million, $XXX operating This or by expenses in spending, at which is year X% in and to non-cash of $XXX was our year the X% compared expenses to
client line increased XX%. sales the service at Looking expense in items,
amortizations as million decreased intangibles of of items less year-over-year. $X non-cash we $X Software capitalized slightly by development increased had software Amortization acquisition-related than expense XX%, G&A and more X%. down driven million was XXXX. QX
operating Moving margins. to
to Our was operating period. XX.X% QX compared margin GAAP the ago XX.X%, in year
year amortization. capitalization is that expected discussed impact One adjusted and and non-cash in technology points is ago previously down due mix XXX QX, which been greater resale Our margin the was operating the software to basis than period XX.X% has from we expense.
quarters. expected software, have million by been three amortization, with impacted about capitalization but along We expected have net to $XX software the increases items, million through a we capitalized in $XX of $XX million increase our non-cash represent just in annual less earnings because
more $XX So, highlight it This we earnings quality year. had on to capitalization, it is wanted projected. or expected and as I our our as impact bigger than $XX million has with catches does this on but amortization pace to up better it be earnings margins reflect a over than
earnings EPS. to Moving net and
earnings per earnings diluted $X.XX QX net $X.XX in EPS Adjusted million XXXX. $XXX were of million, adjusted $X.XX, $XXX GAAP up were was Our QX or net in X% and from diluted share.
Our up the tax which GAAP permanent And from quarter ago. the was excluding XX% XX%, compensation, items, QX tax a rate is was XX%. for the rate share-based year tax
million We $XXX sheet. $XXX from total is Now, I'll investments, QX in ended move and cash of to our up balance with million which QX.
to debt. Moving
down billion, lease which is in slightly obligations, million, compared from is was Our the $XXX Total capital quarter total QX. QX. in $X.XXX down including to which receivables debt, appear $X.XXX at billion
less is was million, Our capital cost development QX quarter, strong expenditures and ago QX. $XX was operating quarter the XX for QX capital and to were flow $XX flat Free from flow days, for down software and cash cash period, which year the was $XXX all-time very Operating as at million, capitalized capitalized in cash XX million. flow days representing the DSO an purchases defined high. software $XXX was compared million
Now, I'll go through guidance.
would is QX We XXXX $X.XX of the to our low billion, growth X% be billion, full between expect and $X.X midpoint $X.XX guidance reflecting at which of year over The growth end and of of XXXX this X% the with midpoint reflects revenue to XXXX. bring prior QX revenue over range of in range.
X% EPS $X.XX compared this which diluted range which adjusted XXXX over to EPS to XXXX. be QX bring XXXX. midpoint of per would The – is to full of $X.XX expect We $X.XX, flat share, reflects diluted growth of year QX EPS to
Moving to bookings.
XX% activity bring our an of strong QX, would midpoint for contracts guidance that from bookings billion expectation forecasted X%. pushed expect year This midpoint growth QX. expected in QX the compared strong billion, with $X growth that to to reflects QX $X.XX in reflecting addition large sign our of XXXX. The to of guidance level of QX to We full we bookings of XXXX already
driver expect to be booking guidance. guidance VA lower revenue as not of a relatively revenue Our bookings. lower QX we Primary earnings initial like QX booking I'd small. the on color more significant provide assume QX some does is and contract, to this for the and earnings our
related within and revenue the While earnings, pushed of Much our which booking has QX professional was on earnings QX resale in the we services revenue QX contribute lower to gap. of is therefore ITWorks than close shortfall also QX bigger even to and bookings bookings, revenue the that reduces the Tech revenue revenue some impact ranges and earnings, those shortfall the converting relatively higher a the which bigger much margins. to a but QX. expected deals in on QX, contracts to with does quickly impact not managed quarter. earnings contribute as timing of margin to and to was begin were which pushed, guidance typically much increase won't services This bookings, the helps have related
our benefit QX already benefited variable additional spending to variable compensation side, on internal expense bookings, the no be be accrual lower been we On below QX. for full-year expenses compensation expense lower our expect full-year associated in reduced, with reduction since targets. from has accrual there'll the the and Since
spend are Another in factor until large making in personnel upfront is impacting increase XXXX. revenue that we delivering investments not QX, start spending but will projects
salary factor increasing our workforce beginning compensation Additionally, another the annual at is receives most expense. of their which of adjustments QX,
expenses impact had bigger ongoing as Finally, which, I mentioned, expected than the year. impact non-cash has a we of this expect
our plan, Now, X% currently XXXX initial like billion, We'll range. expectations for is I'd is the more Consensus after we reflecting $X.XX and version midpoint. on we plan. initial for our above finalize And guidance. adjusted our between QX diluted guidance at guidance results QX to guidance QX report growth consensus formed expect and largely per billion was midpoint. the between growth XXXX XXXX. share, the for fact reflecting of our adjusted diluted the EPS at formal consensus Current our $X.X in provide and range, $X.XX that provide estimates reflecting based revenue results revenue X% $X.X EPS XXXX But and before
to in XXXX Our outlook reflects targeted X% long-term initial growth range revenue XX%. of our
XXXX with our stated While XXXX number, years revenue slightly targeted in both of growth our so expected is this off range, would be within also line is lower our range. the
EPS. Regarding
and for to below rate mix this tied revenue, Recall headwinds statements expansion, revenue and we which XXXX with slightly for depreciation made of XXXX than headwind growing growth expected non-cash expense to years. with growth. year consistent that of our the at would estimates be not amortization EPS about faster a couple Current margin is reflect rate. and earnings growth margin growth consensus revenue Our is we indicated beginning a margins
continue to items increases by XXXX, we beginning earlier, a indicated these originally increased with in of our I than in Consistent amortization. year, As impact projected more these significant largely again, expect had non-cash software comments these at items the XXXX. this driven have in
higher cited we Works business is the at revenue of projected mix, The XXXX beginning as a XXXX volume factor and other XXXX. in we
While business of the that shift back-end we margins. up XXXX the to revenue is Works loaded volume for a Works mix shaping expect result XXXX, to pressures do in be in
health As it of revenue and, to we non-cash of this we believe the uncertain. also said years timing revenue the believe but will couple after mix SAS year, we Works population subside is term, can as the at longer beginning related the the headwinds of the impact ramps, offset a of
businesses. scale margins We to expand also as in believe Works these we'll be able achieve we
impact any new keep initial our referred the please Finally, mind guidance revenue from standard, does XXX. not as often reflect to in Topic accounting
disappointed and positive will with visibility us to impact QX which In on that, we We yet are related good and too are over results results. early bookings and us to this the believe with the we are year a position amount With outlook, lower estimate through XXXX us I'll QX turn still for working QX the than outlook, very our call the bookings note summary, expected it's time. earnings to while at allow pleased the an for Zane. into finish strong we
