Computer Task (CTG) 9 Nov 212021 Q3 Earnings call transcript

Ladies and gentlemen, thank you for standing by, welcome to the CTG Third Quarter 2021 Investor Conference Call. [Operator Instructions].

As a reminder, today's call is being recorded. I will now turn the call over to your host, John Laubacker. Please go ahead, sir.

Kevin. you, Thank on everyone, Good the morning, call.

on CTG's Gyde, me is Filip and Chief call President Executive Joining today's Officer.

conference X, forward-looking the information of Before Company's that statements we beliefs, could forward-looking during this results statements. made differ listeners November The actual expectations that today, are as to of begin, upon information based I the after those important want the to no and These predictions It course materially assumes future intentions, is or the management's Company's remind date for based statements call statements projected. these Tuesday, conference obligation from hopes, XXXX. company state are update call. today's of note the from to and upon to

cause the concerning press results SEC made contained factors from those statements could in the earnings in today's information as differ Company's that in well to forward-looking is filings. as actual release, Additional

include during the With Company's the over financial press addition, both call X-K. to to information. reconciliations financial remarks. measures measures now and In certain non-GAAP his pleasure management's and These my provided release for related of the release statements adjusted today's are it's turn in and opening GAAP Form non-GAAP the discussions that, results to and press Filip of call Filip?

and the Thank call. you you, on John, and listening quarterly all webcast. We conference phone appreciate of good on morning to us today's those joining

very productive another for was quarter third The quarter CTG.

months of our As the X undertaking and year. initiatives generated the the during continue from ongoing strategic we build operations repositioning of on to momentum the first the rebranding

quarter, the as Solutions revenue a consecutive whole. year-over-year increased the our for in company business and For both fourth

margin compared in Solutions XX% XX% and quarter, XX% business or of of year Solutions higher more driving increased an total nearly ago grew mix our toward vision with of to XXXX XX% revenue resulting in revenue. the by

less disengaging objective profitable our drove margin business, as continued we gradually Staffing we of Additionally, our from stated staffing improvement within service.

we business, of to year-over-year, result profitability. operating is our the strategy on increased Solutions Supporting a our companies the a transformation. have business trends, all results to expansion the remains driving digital enabler made executing innovation Technology most as successfully position our in leading consolidated profit models progress of of increase financial across CTG, one disruptive improvement focus including our XX% As significant most the demonstrating actions and consistent of market recent reshaped industries. nearly

digital expect firm, large transformation As a to also accelerating. to to result, years. companies third-party the opportunity growing, leading only next their XX% and for of digital expedite research X X solutions the but not market over business According is a plan

This fall complex solutions and improvements. additional Even implement or change. the organization after fact, to plans. they recognize implementation, Yet their digital a compete. requires new across realizing encounter need long-term of coordination significant of frequently with effectively transformation the scaling resources many in to surface because is often to comprehensive transformation scratched of majority primarily the organizations initiatives are their order challenges companies our effectively short performance order anticipated only digital companies have of embrace In in

of data This has solution. efficient centers more an us transformation, to an nearly an client range with example, X a that recent to a broad a capitalize their expertise domain we for serve To decades. expanding need migrate for objectives. and services digital portfolio to strategy solutions, we and deep for performance also solutions client as utilized existing on to support while CTG our provide ensuring digital expanded diverse desired growing expenses clients Our leveraging approached opportunity, together a their accelerate cloud-based engagement IT and to positions of their have and of this catalyst achievement for aging CTG maintain

related telecom as centers applications. the of and key located as seamless optimized services, software well interruption in Luxembourg CTG involve as their Cloud data XX As of required to migration a a data business of no transition the the scalable provider application continuity, of business-critical completed the migration in clients' AWS financial pay a complete you and go, including and plus. retrofit leading to applications, redesign

provide ServiceNow. and recovery, with than addition digital its security cloud-based backup XXX enabled resulted and as of platforms, In the IT digitally clients' improved monitoring Azure continuing support Microsoft to the Amazon more in creating enhanced assets. annualized we $X cost are data and savings, million completed of migration this well to clients for including AWS, and Today, as

and taking is market transformation of a growth Value-based by potential to care, continues to healthcare provider. digital future quantity the are by Today, for redefine which as demonstrated economics and driver industry, healthcare, industries. as promoting care to of opposed care and be types the CTG. of determined within certain quality these that mentioned, transformations target important place every clearly of this across previously some an As of are reshaping is the

such only and substantial with improvements manages how utilizes the captures, However, industry is a in model information. possible ultimately

on system fulfilled as remote and go-live, fourth we including a go-live in term the commenced this determine multimillion-dollar both adoption the announced their healthcare care, Record years, the of encompasses will regional for EHR Electronic thousands of project implementation October, of Health long management as in effective associated With support system in XX,XXX area Health be have breadth company-wide a training is management projects many classroom well on-site Enterprise the well implementation clients. projects. significant of is the providers. our EHR. the many planning, Epic will of strategy with history users, In complexity While spanned that variables This growing late one execution, last X a of than Electronic success building size of a CTG logistics go-live broad including estimated value-based Epic's work CTG of has go-live and end-to-end quarter of blocks successfully the more as large of number end advisory immense. contract, responsibilities which completed and extensive longer also during this first Record as and fundamental largely and expertise or

are delivering and of leveraging tools. comprehensive we expertise of together combination proven methodologies, solution, part coordinated broad digital external CTG a As proprietary and internal multiple with a

In improvements services an support remain and Epic the digital are Consistent for on various XX/X their simultaneously we business with the will and our for EHR. of accelerated addition, on a can maximizes management desired all return significant so and client results managed principal investment applications application solutions the that focus this offerings, end providing that transformation performance achieves systems legacy clients' IT in be implementation.

are provider, this a the our fourth well guidance, engagements data increasing a be the results. quarter be for outlined, this of contributor digital digital digital planned significant second, automation, a currently long cloud of opportunities of our solid and These and relationships As offerings, Each performance and increasing More and transformation one, broadly, And are overall importantly, objectives. reflected We engagements cloud for The in solutions implementation digital examples go-live clients. growing with represent a the pipeline solutions how also X our expanded system. resonates client EHR span will our that to telecom and both with regional CTG received. existing healthcare continues clients and of our enable demonstrates achievement of new financial revenue an development, branding the they becoming including well and launch prospective X solutions the for an includes business analytics for prominent accelerate business. transformation have of I've of strategy solutions to project more to existing intelligent served transformations. migration portfolio platforms, services testing. application that only the automated that that engagements clients portion Notably, for number business type core

to-date tremendous and strategy of execution has by team. been a success Our capable of the disciplined our highly result

period what the early team, that a transformation While Therefore, CTG's now we've making of detailed opportunity the transformation capitalizing in over results quarter fourth penetration for what and the its third to support remain guidance market for scalable of I'm financial in the short continued in pleased review by our time, expansion are a would we of of for in committed targeted John, capabilities accomplished further still emphasize, and our development. of and with to both believe solutions we I investments digital solutions the turn of growth portfolio potential our call coming will digital I is significant quarter. on further years. John? relatively

again, and good today's everyone. Filip, you, us Thank call. joining you for on morning, Thank

in IT this quarter As $XX.X in our the third million, release $XX.X press revenue the reported $XX.X for quarter lower-margin was XXXX. revenue in digital The reflected offerings. the and The was quarter sequential of business, staffing compared and disengagement million of staffing third our quarter Europe business decrease second in American in million continued consolidated expansion the in our revenue morning, in seasonality driven our with from and third new North primarily in earlier including increase our by client engagements continued Solutions transformation year-over-year projects.

million million periods. $XX third This quarter. quarter compared Solutions during Year-over-year revenue million and and $XX.X compared year in million translation or XX% XX.X% a IBM in quarter, of or XX.X% in or $XX.X of million quarter of last the in XX.X% of or revenue XX% from $X.X profit quarter was revenue of of and quarter. the of previous Gross XXXX. was positive represented XX.X% total with was the XXXX quarter more positive of third the and XXXX in in from XX $XX.X million the $XX.X compared $XX.X comparable other with Solutions had revenue. in the quarter. XX.X% revenue the the of or the third of the total were of Revenue compares of the second revenue $XX.X revenue in million million XX.X% year's of with total revenue increased of third ago recent in second third or than compared third XX $X.X XX.X% third quarter or quarter third in of $X.X quarter with $XX.X in in revenue third quarter Total revenue million or and quarter second XXXX. in client days revenue XX the or XX.X% quarter XX.X% total the impact of quarter Currency revenue billable year third or of $X.X quarter. impact in the million positive with million second million a the $XX.X ago impact a on million days revenue in days No of total in or XXXX

in quarter. XX% quarter which X.X% the quarter in our X.X% remained year ago in Third quarter negative nearly effective was expense in the third XXXX third increase quarter at of in of XXXX. the the investment second X.X% third steady X.X% was excludes This the The third acquisition-related quarter IT, development $XX.X transformation the offerings compared quarter quarter was solution an million the in the second operating resources Non-GAAP of rate and quarter, with the compares and from with flat with increase of XX.X% quarter our tax and quarter of third consistent which XX.X% in in for with $XX.X quarter approximately from and SG&A $XXX,XXX second SG&A margin third with business and strategy. of million second operating continued compared XXXX. a with reflected XXXX. in a third flat compared in expenses, income X% expense digital and significant the GAAP margin of the essentially XX% was

or reminder, a tax third third per in Non-GAAP and $XXX,XXX diluted approximately per income resulting rate one-time in As acquisition-related for $X.X from share. of quarter costs. $X.XX the was was million quarter million tax income a ago diluted or a diluted to share GAAP the quarter $X.XX due $X.X or negative share in benefit year included per legislation. net the net change $X.XX was the tax

the $X million income X,XXX of was Adjusted quarter of $X.XX comparison, tax the million expenses. in the also $X.XX quarter was approximately per net over quarter. the quarter or per the CTG's quarter of income EBITDA net at for insurance. million. share. million total third the share quarter acquisition-related legislation. non-taxable $X.XX of was the been billable. million $X.X net end with ago of was $X.XX in tax was of of or at GAAP the $XX.X or per XXXX compared and or EBITDA per or the have was $X.XX included per income second in Without million XXXX quarter third the third that legislation income included second XXXX in our $X.X quarter the was XXXX $X.XX trailing diluted share, the per third $XXX,XXX in third gain XXXX quarter, XXXX headcount gain end $X.X Non-GAAP share diluted and from diluted change third headcount or year $XXX,XXX the of $XX.X share. as by included GAAP For net the would $X,XXX share, a change compared second in Non-GAAP quarter, for of X,XXX Adjusted per expenses, comprised diluted second third non-GAAP of from third $X.XX the share XX end million which year with quarter this and approximately acquisition-related a diluted the year $X.X for quarter income per in ago of income life an the months, quarter of of $X.XX the diluted million slightly end approximately $X.X of was diluted $X.X share offset diluted ago third XX% in but at net

balance no outstanding Cash long-term Also revolving and million. $XX at cash second third with any equivalents the on the XXXX. $XXX,XXX credit its line to quarter other had in end quarter the of quarter sheet. the the of of $XXX,XXX the balance of $XXX,XXX quarter Turning at quarter, in were company facility the and the compared end third in or Capital debt. expenditures were our

significant we current discussed Epic the of increase be related between the and expected in the anticipates Looking bookings have to large company engagement forward, $XXX based in go-live to the implementation quarter fourth and revenue the upon and range work million. XXX

and between share. expect non-GAAP diluted share, earnings per $X.XX are be to expected we $X.XX diluted GAAP per Additionally, between and fourth $X.XX in and to the quarter be $X.XX earnings

year to year-to-date between $X.XX $X.XX between expected to share, our full and financial expected share. and be for XXX diluted per are of be million. diluted and between for full $X.XX XXXX are Taken year expected GAAP to with earnings be revenue $XXX together the results, is the earnings non-GAAP $X.XX to per

We are advancement solutions the consistent pleased the our and with of digital strategy. progress continued very

also of disciplined accelerate our framework. attractive a acquisitions growth will strategy search for to to allocation the solution continue capital We within

We to you in manage please completes are committed expansion Kevin, a offshore session, delivery value and capabilities. on That continued investment question-and-answer for prepared shareholders, EBITDA margin our additional and built our generating remarks. could growth, including please. initiate

first is Josh [Operator the from of question Instructions]. of Vogel our And line Sidoti.

outside wondering, Hi, engagement -- I want this mentioned to past expertise footing are start the work? you I the talk there space, types conversion over rate in for brand just the of is go-live And was your projects? U.S.? of your average pipeline and landing name about year. can And related on you your if the basically, and opportunities third given these what's EHR

Sure, Josh.

EHR to big work We in And EHR have wave integrate see that, of related see the there's let's also, see of merger sector, want well, and even XXXX, pipeline in some a kind significant also that parts we And you a say, of that the now replacement which we healthcare happened implementations happen. different hospital to because when there's basically, one sector. the come obviously we solid activity to EHR. of, healthcare a acquisition you systems before starting

that's activity see. So the we

for name sector success ourselves is our the opportunities solid closing pipeline, a we in in see go-live, that high. as in a we making solid have these are We that rate

positive So looking we are forward.

level not activity the some being question are even of strong in scope of the Belgium systems. of your only implemented of has are the systems EHR of EHR and we're Belgium, in states, in have Europe, looking talking regarding in outside Cerner, the implementations Epic, Benelux so the we but Now a about couple healthcare whole Epic the a of different an size less. that

hospital So the the in which we homegrown CTG not Belgium we're from like than simply for the we're compare end more hospital University cannot the more in the major is what XX,XXX Belgium only about at that's scale EHR moment. with like which the is talking Hospital integrator about in Brussels you Primus, and Europe. systems see this system of here, systems the users But prime states systems talking

appreciate expected and those some any there just it's guidance thoughts coming also, Epic from kind contribute that want around next from engagement share for then in QX? I how for And the QX. Can insights. providing of in maybe Is Sure. long-term you again, to of to much is Sure. should XXXX. you just see uptick to And revenue of more want just this residual will sense John. a million $XX implementation to a I here the contribute get the sequential get see frame or I mind year? we good

look we our questions of when the you had Josh. the outside couple non been think, good. revenue has think Thanks, just -- Filip pipeline of there. Relatively speaking, A good engagement, we very said, at this as

think been I that good. to pipeline has transition our

I at continue our was months still pre-COVID but which your it the Although to ago, not pace but now -- been of believe question, has part continue good. conversion rate, good. And very XX

So really around as Offsetting fair of engagement I lowest of of continued perspective business. think the all winning stepping that, some away we're -- deals. from we've number from margin focus said, an staffing a a of

Europe American to you've in summer, quarter, did not up months, it summer, holiday got the third in so And summer got another and you've in North after time some have taking last in a doing this utilization over taking robust QX business. bit little as doing it the fairly people We some the and our think got both, advantage our we we expect but expected some return And we've movements is I -- normal. movements up down. movement to

utilization good Epic expect go-live the to be and is people away up And the got from I this I Having don't part low we margin project that -- stepping this a a at implementation where quarter revenue. some little very on staffing project. revenue got is that, this come said this very they you've a -- throughput so the impact back. of And pipeline. $XXX.X to significant we've bit as increase large going to from think million And related to

some with these been Now project. during ahead the you we've you so what is get around may system. that quarter, working in throughout types to training and client continue with before you your the date know, for time do information into something of specific and as working to make and will system of sure out flooded that goes new now projects, they Then do make that's training have do been organizations the you of advance, typically, and with can go-live this period you've time that you all of their a to sure live and people in after go-live on the

So quarter. a project fairly size -- QX, some the do this of to of certainly expect that overall the the We residual business not over to defined this from into go-live time, go not but concise itself be be most will engagement. tends of in to period and compared significant

on think. was Your -- I question second guidance, on

Yes.

change and looking very at we that we're the this profits be us felt important it's something was what quarter it revenue to going give forward. the significant in We guidance will very, for believe in And QX. the given

from and quarters have the better down year, bit come into us as were a markets last where little of gives they going. it little past think bit couple a where visibility we're I over

we're towards. but give we going I say about leaning very that will something and won't forward, definitively thinking So it's strongly guidance

little Switching bit. gears a

there QX? a You up just engagement? I'm in projects for other are services renewal or curious, extended that multiyear for managed engagements are that notable any And that Was agreement.

start of engagement years. now Well, systems of yes, been of that being their releases what's long-term where we continuing, going an development where managed It's a this additional developed. extension transformation the been a see of project way we're redevelopment more world finish where in and for new come that exactly anymore has and it's client done has is already out working And like additional so not happening most digital on services digital of that's an redesign, of are number a functionalities we've much here. a

in services and in managed automation basically testing So framework. development whole the

the and said, initial over that's pattern. more So of a so repeatable more is managed to that spread necessarily year of many our in see this business that and extensions, kind those services projects cycle see we QX, of into the now year, we responding being over moving not of business spread

be And documented may about jump into insights. let one, from or level, in very on Can especially side, pressure a those an difficulty on labor the where a a -- you up be And you pool macro we when labor bench because get others to a a shortage, such last obviously, leg appreciate of the in. I may talk filling project? you one flip well seeing peers most assignment you have have or I'll IT strong where ranks. you More the where may or tap?

our markets Well, shortage is obviously, item an in though the that's new. not and labor

If you the started if talking already war started to we Europe states. remember pre-COVID, in for about the that that then to move out talent were we --

retention we sets that certified been countries used and sees to systems operate levels demand. great put are that being in make sure definitely is So of higher a to this to Where work where can where used the Well, place keep to have our for the see do war in it, shortage? all we labor have digital place talent support. we we've to skill we everybody big in obviously, been

and style come the a focus -- from and people our think from really also don't we who work, is developing on this see but culture place school. have, being why partly a our skills is market to that I and right difficulties come strong moment, reason having who that the great at we developing management

to them Colombia, our talent automation. now involve India where talent pools at where global a juniors, projects. training and we to have and we cloud, artificial And in also can a that of intelligence X workforce hiring add looking in global testing, we can areas, of from we're So the more lot different also intelligent automated from

I yes, So At an don't think, hurting it. item. CTG really moment, think is I labor this because shortage of definitely is

our Company. & of question Liu Kevin from next And Liu the of line K.

here. First question

Just revenue for line. QX, the as significant to relates it it's the a obviously, guidance, on fairly step-up

your of EPS suggests it terms not guidance, through kind of of that all bottom to flows In the that line.

So little could you wondering attributable talk how business kind ahead invest maybe if is of the I 'XX? profile QX of to a was bit you that margin of the engagements of for to the much about just in plans significantly have versus more fiscal any

of in more in the in -- capabilities, development of and the digital our strong we last to project and continue are also go-live, our improvement and this next results invest and both want add? are year. specifically and QX pricing picture, solutions team, kind in that in Kevin. year, of add We generally see, the projects. with the to high our quarters basically fourth John, John have level size look Sure, we I'll that operating if start from give our you lower of quarter margins then a smaller like of you than those of massive recent and projects sizes associated to color and of the the regarding it. our solutions very committed business and we of some pricing to earnings project in said, at while this And can size you And very solutions.

I about really -- we up. are I sums that it absolutely Kevin, think, committed.

very we of expand our discussion the consistently As say we as forward. right said, from we're we've strategy committed people we're solution and sort have the time to all to move quarter-to-quarter over making -- have that we we've sure that of

a this a investments is to take and great And very good can start to time those make those dollars consistent of that XXXX. so we some so drive

coupled Filip combination the business in we margins to this the continued size, of lower the make drive a that future. investments from project a really with want of, it's So as to dramatic said,

to will goes year your was importantly, the folks revenue seen And impacts European flattish year? we've rate to How your vacations that as assuming past? little to taking bit look other keep that depressed you for the purely there QX. that any we growth fairly QX not turning of in just then kind of more in the Or maybe tied back are Europe? are business. growth more last double-digit a this there was guidance, The to growth much just And versus

I Kevin, see we've seen year, And like kind to European think is to of stabilizing we're said, more is coming encouraging. are What your terms, we spot on. pre-COVID still COVID, Europe and normal. and analysis, looking is and in but back typical which back we not now at still a John market here there

the back QX in of yes, and vacations in shows pattern again, almost So the were for normal Europe to that revenue.

holidays future. way so are us have caveat in encouraging lot to that up, QX and in quarter-by-quarter, but We come catching QX taken holidays back normalized very we're a limited come in coming people still of QX some expect QX think very the is, in slight -- to of that holidays there's which QX. been well, the that also will frankly, and But for there back business, I to a with still more have normal

to hear. good definitely That's

QX And you seeing the think into if guys industries at in also, wondering I then for customers how about some going America? on the opportunities touch work. could talked was year? you North opportunities and next both look various their if broad-based across you're you that's I is just as across pipeline, and existing Europe to that have expand

Yes, clients clients come hasn't And in-person relationship. are been, back starting typically we've working evolution. and that very Because we see Europe both a new good with totally well, more in since and very building in frankly, remotely America. North and that that a is useful up also meetings since with

fantastic. And meetings in-person in with that of not trust, and in are with new So having is that America. digital working the that asked, at long-term something we come and frankly second area and back Kevin? growth that our bit very they totally North on we're to where really it clients Could are clients to the see of that definitely is moving base us your going maybe we we like our with the is is periods the And are and solutions our offerings clients. making question, strong away us ways more But normal looking deliver. you that reliability I still a signal from rely a But you think are see of is, moving than fact Europe like in pre-COVID, mostly with part being current able repeat strong difficult normalizing. little business in together together when client

was It that. to related

a get it's specific or in sense industries any it's if if to trying also concentrated for broad-based Just across areas?

No, in really states that's industries. that's -- Everybody opportunity across well, Like but see can you we've the and see sector talked see industries. in Belgium, telco. you it is of it sectors, government, of us it in it different in our is can strong very a for we about outcomes. accelerating, at still the business digital all really healthcare in getting transformation. all is across desired the looking industries. is focusing is happening everybody And -- the It And on

staffing the comes seeing we questions offset some the potential inflation feel that another your kind kind along just to about in of just guys of opportunities for earlier of business Are wage might the kind on pipeline? maybe have or one from Great. is And the to shortages. the on some kind ability any margin frequently. go then of lines Wage of of your that what of year? you of how you the into next impact you price profile up do any Josh as of inflation, And

wage We see in percentages training I But definitely a that The junior an a back our also a in compensation to that Europe, approaches, still global a and that also the annual with at to graduates the progression basis. of we see if to inflation delivery recently, not moment, exactly in a have to secondly, you the Colombia inflation at areas workforce finding control. that helps position need the also people ourselves, issue. -- and them. that place strong managing getting policy junior to colleagues then that one, are we makes Yes, just moving more as methodologies, And really us that is point. couple on help things this with doing of sets about But opposed then India immediately that right have our people talked in keeping under stronger, young that and for in them X really inflation. coming of trained and HR, skill wage are couple look you cost ahead being we're of our inflation package with in and and really still in our that

next just fall year? dramatic it of And early we But here of a may starts of Or any keep where we pipeline it of part the until contracted guys provide know, be project, that the guys at is for should kind think opportunity lastly revenue today. in expectation about more me. guidance sort business not next should we a of 'XX into to it that on up kind you probably year work off converting? QX you you for ready -- project more that and your aren't business have ex going the baseline I as this think finishing enough there's about the and the large level

QX. going huge to -- John, there it like we not sign would different in a never you most this Europe, businesses may Obviously, we used stabilizing. America, industries, isn't but short like we overly COVID is total, forward. project to safely businesses said, optimistic said, We're see and a the will of because see optimistic. maybe in anything in We're are going I shows that? leave year, happening I QX. a that say North dramatic can increase have not pipeline and we we Like size positive into us, and for be next normalizing, which both at giving that a stabilizing, said, to Like us very very moving places, proud John John we're to done We in in all is big pipeline. of that looking 'XX, growing of a is the add QX, project conversion. a guidance tail being of leaving Well, but that be

Yes.

that that's with good pipeline opportunities next the that contained in and baseline starting out signed the I be think -- will nice consistent size to should the I'd also baseline forward it's that agree given business been, the the progress there I think consider and more going have year. quarter Filip. a that's but Kevin, where we've previously that sort put, of a both not very Filip there's well the very project of we the fact this in

remarks. further in for back And closing to No questions over management queue.

the CTG's In solutions quarter of another you, execution on Thank closing, quarter and continued Kevin. marked progress third digital strategy.

year CTG, an generating year-over-year the our growth catalyst of again lead on finish continues commitment we sustained your improvement realizing support strategy of team increased objectives. to and transformation that the long-term as for Solutions ongoing success positioned progress and our to results, for in further Consistent achievement confident well now building are for out to CTG. deliver line repositioning disconnect us with for term, our the bottom and growth, the call. we for profitability. Coupled operating the achieve you total both shareholders. Near that XXXX. business may will continued CTG term within we to joining strategy discussed effective company's year-to-date, right you expect today, realizing business to overall with quarter. fourth a this and Thank and are have and accelerated on Moreover, with also all very to place value our of targets validate business longer we in growth in Kevin, demonstrating as the top call, Our and of are digital financial metrics profits vision previous to and operating clients line increased we our the expect strong deliver the today's

that conference. your thank gentlemen, for you do does and We conclude joining. Ladies

a Have disconnect. good day. now may You