Good day ladies and gentlemen and welcome to the Mind's Q2 2010 Earnings Conference Call. Today's conference is being recorded at this time I would like to turn the conference over to Andrea Dray. Please go ahead.

Good morning everyone and welcome to Mind's Conference Call. Before we begin I would like to point out that during this call we will discuss certain financial information that is not prepared in accordance with GAAP. The company's management uses its financial information and internal analysis in order to exclude the effects of acquisitions and other significant items that may have a disproportionate effect in a particular period. Accordingly management believes that isolating the effects of such events enables management and investors to consistently analyze the critical components and the results of operations of the company's business and to have a meaningful comparison to prior periods. Also this call includes information that constitutes forward-looking statements. Although we believe that expectations reflecting such forward-looking statements are based upon reasonable assumption we can give no assurance that our expectations will be obtained or that any deviation will not be material. Such statements involve risks and uncertainties that make those future results to differ from those anticipated. These risks include but are not limited to the effect of general economic conditions and such other risks as discussed in our earnings release and at greater lengths in the company's filings with the SEC. MIND may arrest to update these forward-looking statements at some points in the future, however the company specifically disclaims any obligation to do so. Yesterday MIND reported the result of the second quarter 2010. The financials can be found in our form 10K on the call today for MIND is Mrs. Monica Iancu, MIND's, CEO I would now like to turn the call over to Monica. Monica please go ahead.

Thank you Andrea and good day ladies and gentlemen. Thank you for your interest in MIND and for joining us today. In our call today I will summarize and discuss some aspects of our business. I would like to start with the Finance Department update. In light of the departure of the last CFO after only three years with the company we decided to review the structure of our Finance Department and in the mean time for the quarter. Until a firm conclusion is reached our controller for the last 4 years Mr. Aviram Cohen aged 34 will lead our Finance Department and serve as Interim, CFO. Aviram joined MIND as Controller in 2006. Before this he served as an auditor at the Israeli affiliate of Ernst & Young. We wish Aviram great success for many years to come. Yesterday we reported our business results for the second quarter of 2010. Revenue for the second quarter was $4.9 million. Revenue from our customer care and billing solutions was $4.05 million and revenue from our enterprise Call Accounting Solutions was approximately $853,000. The geographic revenue breakdown was roughly 47% from the Americas and 37% from Europe. The license revenue was $1.75 million or 36% of total revenue. Maintenance represented $1.67 million or 34%, and services were $1.48 million or 30% of the total revenue. All this in line with out business model. Operating income for the second quarter was 28% of revenue similar to last quarter well above our 20% value. Net income for the second quarter was $1.3 million, an EPS of $0.07 per share. Our balance sheet continues to be strong with total cash possession of $80 million at the end of the quarter after a dividend distribution of $3.7 million. Our backlog as of June 30, 2010 include…

Thank you, (Operator Instructions) Our first questions comes from Dan Western from West Cap Management, please go ahead.

Congrats on a good quarter couple of questions first on the win that you announced with the telecom vendor, were any revenue recognized from that contract in the second quarter?

Hi Dan, no revenue was recognized as of now. Our projects are projects that normally are recognized between six to nine months after the receipt of the purchase order. There is a time to complete the statement of work and to start the implementation. So no revenue was recognized from this sale order.

Okay and is there any color you can give us in terms of what the size of the order was or would this be a combination of license maintenance and service or how do you see it playing out over the next year?

In terms of medium size order we believe this is mainly important because it was not with an end user but with an integrator that an equipment vendor but this was the first time that we start productive relationship with and hopefully more orders will come after the successful implementation of this fund.

And could you update us please on your buyback activity do you still have an authorization and did you buy any shares in the second quarter?

We did not buy any shares, we do have an authorization but the criteria for the banker is (inaudible).

(Operator Instructions) there are no further questions remaining in the queue that will conclude today's Q&A session I would now like to hand the call back to Monica Iancu. Please go ahead.

Thank you all for your interest in MIND.