Thomas Baker

“Earlier, Tim briefly discussed the new key performance metric, gross billings. We believe that this metric will provide additional insight into the company's periodic performance.”

“In the third quarter, SG&A expenses increased 2.9% year over year, primarily driven by higher personnel-related costs. We continue to take a disciplined approach to expense management.”

“In the fourth quarter, SG&A increased by 5.2% over the prior year. The increase in SG&A was primarily due to investments in resources to strengthen our sales, technical sales and services capabilities.”

“SG&A increased by 1.3% compared to the prior year quarter. We had a decrease in spending on personnel driven by cost containment measures. However, the increase in SG&A was due to increases in certain taxes, marketing expenses, and investments in our solutions business that align with our strategic initiatives.”

“SG&A increased $1.4 million compared to the prior year quarter. The increase in SG&A was due to an increase in investments in our solutions business and marketing expenses.”