Please stand by. Good day. And welcome to the Unisys Second Quarter 2014 Results Conference Call. At this time, I would like to turn the conference over to Mr. Niels Christensen, Vice President, Investor Relations at Unisys Corporation. Please go ahead, sir.

Thank you, Operator. Good afternoon, everyone, and thank you for joining us. Earlier today Unisys released its second quarter 2014 financial results. With us this afternoon to discuss our results are Ed Coleman, our CEO, and Janet Haugen, our CFO. Before we begin, I want to cover a few details. First, today’s conference call and the Q&A session are being webcast via the Unisys Investor website. Second, you can find the earnings press release and the presentation slides that we will be using this afternoon to guide our discussion on our Investor website. Third, today’s presentation, which is complementary to the earnings press release, includes some non-GAAP financial measures. These have been provided in an effort to give investors additional information. The non-GAAP measures have been reconciled to the related GAAP measures and we have provided reconciliations within the presentation. Finally, I’d like to remind you that all forward-looking statements made during this conference call are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. These factors are discussed more fully in the earnings release and in the Company’s SEC filings. Copies of these SEC reports are available from the SEC and from the Unisys Investor website. Now, I’d like to turn the call over to Ed.

Thank you, Niels. Hello, everyone. And thank you for joining us today to discuss our second quarter 2014 financial results. Please turn to Slide 4 for an overview of the quarter. Our second quarter 2014 results were impacted by lower sales of technology product and less revenue from systems integration. The lower revenue volume particularly in technology impacted our bottom line results and resulted in a net loss in the quarter. We were profitable at the pre-tax line and saw sequentially improved results from the first quarter of 2014. We are pleased to see growth in our IT outsourcing revenue in the quarter and substantial growth in services orders driven by a significant outsourcing contract award from the Commonwealth of Pennsylvania. I’ll talk more about this groundbreaking project in a few minutes. Moving to Slide 5. While this has been a challenging first six months of the year for us, we expect a strong second half of 2014. In our technology business we believe the soft first half has been a matter of timing around deal closings in our flagship ClearPath family of enterprise software and servers. As you know, ClearPath sales can vary significantly from quarter-to-quarter depending on the timing of client decisions, which is why we measure this business on an annual basis. We have a sizable pipeline of ClearPath opportunities in the (Q) (ph) and expect a strong second half of the year in sales. While we see opportunities to reach our $500 million 2014 technology revenue goal, given the pattern of timing delays we've experienced over the last year we think it's prudent to reflect this execution risk and revised outlook for about $470 million to $500 million in 2014 technology revenue. This range represents growth from 2013. Revenue from our newer Stealth and Forward! product…

Thanks Ed and hello everyone. This was clearly a difficult quarter and a challenging first half across both our technology and services businesses. While the second quarter of 2014 represented improved sequential performance compared to the first quarter and included significant year-over-year order growth, solid cash management and stable services operating margin our results were below those of the second quarter of 2013. Please turn to Slide 9 for a discussion of our second quarter 2014 financial results. We reported revenue of $806 million in the quarter, which was down 6% year-over-year, down 7% on a constant currency basis. Technology revenue in the second quarter of 2014 was down compared to the year ago period, principally reflecting lower sales of our ClearPath Systems which can vary significantly from quarter to quarter. The technology performance continues to be best measured on an annual basis. Our goal for the base technology business is for year-over-year growth in revenue for 2014. This requires a strong second half performance and we have a pipeline of opportunities that support this outcome. Our Stealth and Forward! product offerings represent the opportunity for additional growth. Our second quarter 2014 results were also adversely affected by lower systems integration and infrastructure services revenue. In the second quarter of 2014, our systems integration business was impacted by execution issues on a few systems integration projects. While in-quarter project revenue as a percentage of total services returned to the low-end of the historical range we would expect lower revenue associated with the projects I mentioned earlier impacted both the topline and profitability of our systems integration business. Currency had 1 percentage point positive impact on our revenue in the quarter. Based on today's rate, we anticipate currency to have a 2 percentage point favorable impact on revenue in the third…

Thank you, Janet, very much. Let me thank everyone who is on the call for participating. And we look forward to speaking with you after the close of the third quarter. Thank you all very much.

That does conclude today’s presentation. We thank you for your participation.