Ladies and gentlemen, thank you for standing by, and welcome to NetScout's Third Quarter Fiscal Year 2016 Results Conference Call. At this time all parties are in a listen-only mode until the question-and-answer portion of the call. As a reminder, this call is being recorded. Andrew Kramer, Vice President of Investor Relations, and his colleagues at NetScout are on the line with us today. I would now like to turn the call over to Andrew Kramer to begin the company's prepared remarks.

Thank you, Tanisia, and good morning, everybody. Welcome to NetScout's fiscal year 2015 third quarter conference call for the period ended December 31, 2015. Joining me on this morning's call are Anil Singhal, NetScout's Co-Founder, President and CEO; Michael Szabados, NetScout's Chief Operating Officer; and Jean Bua, NetScout's Executive Vice President and Chief Financial Officer. We've included a slide presentation that accompanies our prepared remarks. For those listeners who've dialed into the call this morning and would like to view the slide presentation, you can find it by going to our website at www.netscout.com/investors and then clicking on today's webcast. It's also available on the landing page of the Investor Relations site. You can advance the slides in the webcast viewer to follow on with our commentary. We'll try to remember to call out the slide number we are referencing in our remarks. As you know, our third quarter results reflect the first full quarter of combined operations since completing our acquisition of Danaher's Communications Business in mid-July. In terms of the agenda for today's call, Anil Singhal will share his perspective on our third quarter results and more importantly offer his perspective on our outlook for the remainder of the fiscal year particularly as it relates to the opportunities and challenges that we believe lie ahead. Our COO, Michael Szabados, will offer some insights on near-term integration activity and key drivers for customer adoption. Our CFO, Jean Bua, will then provide additional detail on our third quarter financial performance, as well as discuss our guidance. Let's move on to slide number three. I would like to remind everybody listening that forward-looking statements in this conference call are made pursuant to the Safe Harbor Provisions of the – of Section 21E of the Securities Exchange Act of 1934, as amended,…

Thank you, Anil, and good morning, everyone. Slide number 9 provides an overview of the areas I plan to cover. First, I'd like to provide an update on our integration efforts. Next, I will highlight some key customer wins that we believe help showcase NetScout's value proposition in the marketplace. I will close by reviewing some of the go-to-market highlights that we believe will further contribute to fortifying and expanding our market leadership. First, in terms of our integration initiatives, we have made good progress with our efforts to separate from the transitional services agreements with Danaher Corporation. At this point, we have discontinued many employee-related support items and we are on track to integrate the Fluke and VSS enterprise systems into NetScout's enterprise systems – system by this summer. We are also on track to bring Fluke's manufacturing process for its monitoring systems in-house to our existing facilities in Westford, Massachusetts. We also expect to migrate production of Fluke's portable tools product lines to a trusted, high-quality contract manufacturing firm within this quarter. In addition, we are planning to have our service provider and enterprise sales forces on a common CRM platform along with the related sales compensation platforms at the end of this fiscal year – fiscal quarter. This will represent a major milestone in our plan to ultimately realize synergies from our infrastructure support organizations. We are also advancing the cross-training activities required to maximize the productivity of the service provider and enterprise sales forces that we integrated last quarter. We expect that this investment will play an important role in further harvesting existing customer relationships and expanding our customer base next year. In terms of our progress with customers, there are several wins during the past quarter that further validate the investments we continue to make…

. And we'll go ahead and take our first question from Mark Kelleher with D.A. Davidson. Please go ahead. Your line is open. Mark D. Kelleher - D.A. Davidson & Co.: Hi. Thanks for taking the questions. The macro weakness that you're seeing from the service providers, is that service provider specific or are you seeing that in the enterprise as well? Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: We are seeing, Mark, mostly in service provider only and mostly in Tier 1 and that's why that magnitude of difference we talked about. So we're mostly seeing it from Tier 1 service providers. Mark D. Kelleher - D.A. Davidson & Co.: As a followup could that hesitation be related to the service providers waiting for a unified NetScout product or for the new products or is this really macro? Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: No, that's noise. It's really macro. In fact the anticipation for the new solution is really good and they think (41:22) that we are ahead of schedule, so they are all very excited about it. But as you mentioned, as the new budgets got assigned for the calendar year 2016, we noted this pause in spending and second thoughts about on capital spending and you probably are seeing some of the news items related to that already. Mark D. Kelleher - D.A. Davidson & Co.: Okay. Thanks. I'll get back in the queue. Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: Thank you.

Thank you. And our next question comes from Alex Kurtz with Sterne, Agee. Please go ahead. Your line is open. Alex Kurtz - Sterne, Agee & Leach, Inc.: Hey, guys. Thanks for taking a couple questions here. Anil, given the strength you saw with the service provider in the December quarter, was there any pull in from the March quarter into the December quarter and maybe that's creating a little bit of a pause as well as far as how you think about the remainder of fiscal 2016? Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: No, we didn't see that pull-in from that, but people were concerned about and we benefited from this end of year flush because they thought that – and we later realized that some of the projects which they would have funded early in 2016, they tried to use some of the budgets, because they were concerned about what could happen with the budget allocation next year. So that's more anecdotal and there was not a big pull-in from 2016. I think some of the projects are still in progress and hopefully some of them will materialize in the coming months. Alex Kurtz - Sterne, Agee & Leach, Inc.: And just a follow up before I get back in the queue here. I think the questions we're getting from investors this morning is trying to understand the extent length of what you perceive here as this softness in the carrier business. Do you see this as a calendar 2016 event, Anil, or is it just something that you're sort of noting as a first half phenomenon as far as the weaker spend? Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: I think I'll let Jean comment on that also.…

Thank you. And we'll go ahead and take our next question from Scott Zeller with Needham & Co. Please go ahead. Your line is open. Scott Zeller - Needham & Co. LLC: Hi, thanks. Good morning. On the same topic following up on the previous questions, I think we all could use some more color from Anil on what exactly is happening with service provider, because there are few things in motion here? There is commentary about macro and how that's weighing on service provider. Then there's also on people's minds the issue of CapEx. And are those intertwined? Are we seeing behavior driven by macro? Are we seeing behavior driven by CapEx caution, because I think it would be helpful to explain why previously NetScout as a standalone really did not move in line with CapEx commentary and CapEx behavior at service provider? And if that's changing, help us understand why? Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: Good question, Scott. So the first thing is the size of our business, the sheer size of our service-based business is almost three times than what it was as a standalone company. So obviously the impact on big projects will be more. Tektronix Communications was a much bigger portion of the business. But one other factor in addition to the macroeconomic themes which Jean was talking about is I think we spoke about last time is that what is going on at the service provider spending. People have moved to 4G and LTE and you remember we had lot of good business on both sides for Tek and NetScout in the past regarding that. And now people have deployed 4G. They can really drive traffic because of OTT, over-the-top application dramatically, yet the providers are not getting…

Thank you. And we'll go ahead and take our next question from Chad Bennett with Craig-Hallum. Please go ahead. Your line is open.

Great, thanks for taking my questions. Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: Sure.

Can you just talk about maybe Anil, I know, you don't like to talk about specific customers, but I know AT&T specifically was a fairly big customer of TekComms prior to the transaction. And I don't know, you probably don't want to mention if that was one of the four deals, but kind of the relationship there and kind of how you see that relationship as much as you can say over the next couple of years, if it has the potential to grow? And then I have a follow-up to that. Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: Okay. So AT&T continues to be the top 10 customer, and it continues to be a big customer. And this was not one of the four things which we talked about in general, but overall we see the business with AT&T to be quite good in the coming year. But in line with what have been seeing in the recent past. It's not something was of the order of what TekComms used to do two years ago which was very high. So I think it's going to be one of the many big Tier-1 customers, and it's not necessarily the reason why these issues are – what we are talking about are there, in terms of revising our guidance.

Okay, so great. That's good detail. And the second question is, do you think the service provider caution that, you've talked about it sounding more cyclical or kind of short-to-medium term in nature, and just kind of caution on CapEx and whatnot. So I mean, do you truly believe that, what you obviously stated, or is there something more secular in nature, in terms of erosion via NFV or software-based monitoring solutions that are just grabbing more dollars? And if that is the case, you probably don't think it is, what is your response to a NFV solution that handles network monitoring? Thanks. Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: So, the first thing is, yeah, there is lot of talk about NFV, but very little deployment, and we are the only company who actually have a NFV product and we have come up with a pricing model which could be really – be beneficial to the long-term success, because you can come up with a software pricing model. So as we talked about, we already announced a software pricing model with or without NFV. But not many people are biting on it. I think there is lot of talk about it, but there is no business there, and if there were, they'd probably come to us, so our ASI technology today is available both in the platform, in the COTS form, which is Commercial Off-the-Shelf, as well as in the NFV form, and all three models will be available in this combined solution. So I don't think there is any impact of NFV and if there was actually, if that will is a way to mitigate CapEx issues, we will be in the front of the line.

Okay. Thank you. Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: Yeah.

Thank you. We will go ahead and take our next question from Kevin Liu with B. Riley. Please go ahead. Your line is open. Kevin Liu - B. Riley & Co. LLC: Hi, good morning. Anil, just wanted to follow up on the last point you made there about NFV and kind of your progress there, so you guys do have the ability to offer virtualized probes at present, and you're able to address some of the monitoring solutions for functions that have been virtualized already? Anil K. Singhal - Co-Founder, Chairman, President & Chief Executive Officer: Yeah, that's right. But the part of the scale and the part of infrastructure which is virtualized is a small fraction of the overall capital budget and the size of the network. So, we're having a product that doesn't naturally drive big revenues right now, because everyone is experimenting with this. They look at this way of cutting down their CapEx and essentially, that will cut down the price per probe for NetScout, which you would think like is very disruptive, but not – but actually it will increase the number of places they will use our solution. So, the number of probes time – price per probe comes down, but the number of probes they can deploy effectively is going to be actually a good thing. So, I mean we love to the fact that (55:25) and we are ready for it. Unfortunately, the timing is such, this is a five year cycle, to transition from the legacy infrastructure to hybrid to next generation, and we are the early phases of the hybrid, and that's why this is not necessarily having any impact on what's going on to our business or in the marketplace. Jean A. Bua - Chief Financial Officer &…

Thank you and we'll go ahead and take our next question from Eric Martinuzzi with Lake Street Capital Markets. Please go ahead. Your line is open.

Thanks. I was pleased to see despite the revenue guide down that you will be able to – you're guiding within the original guided range on the EPS. Obviously when the revenue is not there it comes down of the expense management. When the deal was originally put together you talked about a 5% potential synergies and I know the deal wasn't synergies focused. It was about combining products, but that was originally equated to about a $45 million potential synergies number. So, a) is that still the right estimate for the synergies or is it potentially higher and then, b) where are we kind of here just six months in, in realizing those synergies? Jean A. Bua - Chief Financial Officer & Senior Vice President: Hi, Eric, this is Jean. I would say that the 5% is still our target. We are, as Michael had noted, making very good progress. The transitional support services that we are coming off of, we are looking at efficient ways of processing, so we're getting synergies in that space. You also can see that the gross margin is starting to improve because we look at things in a very simple way and take things out that are more complex. As you know, Anil, over the years he's very focused at problem solving and gets to the heart of the problem. So we've been pretty pleased so far with our progress related to the integration in taking and looking at the cost and being able to simplify our processes and hence reduce cost without sacrificing any service to our customer or any service to our internal employees also.

All right, and then as far as the progress there I mean is that – I think it was expected to be realized in the first 12 months of ownership, is that... Jean A. Bua - Chief Financial Officer & Senior Vice President: Right.

...halfway there. If that the correct number? Are we two-thirds of the way there? Jean A. Bua - Chief Financial Officer & Senior Vice President: So we had said that we believe we would be able to take that amount out of the first full year of operations. So we are in the mid way point at this part, since it closed in mid July, so we still have Q4 and a portion of Q1 to be able to achieve that original target goal.

Thank you.

We have no further questions at this time.

Great. Well I'd like to thank everybody for spending the past hour or so with us today. We will certainly look forward to speaking or seeing you in the near future and we'll certainly be looking forward to our next quarter's conference call in early May. Thank you all very much for your time.