EBIT declined during the quarter primarily because of the continued planned investment in Volly and the decline in revenue.
|3Q 2011||Y-O-Y Change||Change ex Currency|
|Revenue||$ 109 million||15%||11%|
|EBIT||$ 17 million||119%|
During the quarter, the Software business continued to experience strong demand for its software solutions, including data management, analytics and location intelligence, particularly in the Americas and Asia Pacific. As a result, revenue increased versus the prior year as the company increased sales of its customer communications software licenses. The company continued its transition to multi-year pricing arrangements for selected software licenses, which will provide more predictable revenue streams in the future.