One-time De-conversion Fees
David Togut – Evercore Partners: Kevin, you gave some details on the one-time de-conversion fees in the quarter. But could you provide a little more detail on the underlying drivers of the acceleration in OutLink revenue growth? I believe, it increased from about 6% year-over-year in Q3 to 23% in 4Q. To what extent is this higher growth rate sustainable?
Kevin D. Williams – CFO and Treasurer: Well, in the quarter, the increase in the one-times was primarily in that line, and without the increase in the quarter, OutLink revenue would have grown about 12%, and so the 23% or 24%, whatever it was.
David Togut – Evercore Partners: But the 12% growth would still have been a doubling of the growth rate versus what we saw in Q3. Is there anything in particular to call out in that higher growth rate?
Kevin D. Williams – CFO and Treasurer: No.
David Togut – Evercore Partners: Then, I didn’t catch the data on software cap. Could you give that again, what it was for FY ’13? And what are your thoughts on software cap for FY ’14?
Kevin D. Williams – CFO and Treasurer: For the year, cap software was $51.3 million, up from $37.9 million last year. So, our quarterly run rate has been pretty level on cap software for the entire fiscal year. This year, remember, we ramped that up about five quarters ago for some significant projects. I think we are basically going to stay at that same run rate for this next fiscal year…
David Togut – Evercore Partners: So should we expect R&D for FY ’14 to grow in line with revenue or have you completed enough projects such that you actually might get margin leverage through R&D?
Kevin D. Williams – CFO and Treasurer: No, R&D will continue to grow with revenue.
David Togut – Evercore Partners: Then, you gave some helpful detail on sort of interest expense versus the higher tax rate, but could you quantify what you expect interest expense to be for FY ’14?
Kevin D. Williams – CFO and Treasurer: Very little because I mean, all we have is our unused line fee.
David Togut – Evercore Partners: So close to zero.
Kevin D. Williams – CFO and Treasurer: It won’t be 0, but it will be very insignificant.
David Togut – Evercore Partners: Okay. Just a final question from me; the electronic payments growth was once again very strong in the fourth quarter. It did come down a little bit from the third quarter, I believe, what it was about 18%, anything to highlight there and what would you expect for electronic payments growth in FY ’14?
Tony L. Wormington – President: The electronic payments growth that we experienced is seasonal in nature, and it does ebb and flow slightly from quarter-to-quarter, but we are continuing to see good solid strong growth in both the payment processing solutions for ATM, debit and credit, and as well, the bill payment transaction volumes and our merchant related volumes. Merchant related volumes have actually increased compared to the prior quarter, and I think we’ll continue to see good strong growth in all those areas of electronic payments.
Kevin D. Williams – CFO and Treasurer: As Jack mentioned, we had a very strong sales year, especially in electronic payments areas. So we’ve got a very healthy backlog of implementations yet to be put in place.
Organic Growth Rate
Peter Heckmann – Avondale Partners: I know you commented a little bit last quarter, but we have seen some additional consolidation of your competitors. Are you hearing much from the marketplace in terms of a changed attitude as regards to some of these competitors, potentially, increased concerns about certain platform, since that’s being accelerated? Generally, do you view the consolidation that has occurred in the industry as more of an opportunity or a threat?
John F. ‘Jack’ Prim – CEO: Well, Pete, as you know, it takes a little bit of time after the announcement for these things to kind of settle in. Of course, system conversion is a difficult process to go through, and nobody wants to do that unless they’ve got a really good reason. So if your core provider is acquired, you want to believe that what they’re telling you about how good everything is going to be is true and you’re usually willing to give them a little bit of time to prove that out. So, immediately after an announcement, we don’t see a lot of change unless there’s a particular product being sunset, which was the case with one of those acquisitions. We have picked up a couple of those, but generally, I think people are willing to wait and see. There have been a number of pretty sizable acquisitions. Any of those, at some price, would have been interesting to us, but typically, not at the prices that they ended up going for. Again, I think that they probably solved a different problem for somebody else than they would solve for us that would let them get to that number. The math did not work for us. But to your question, I think it’s a little bit more of a wait and see, for the most part, as to whether that will generate any additional activity. But they’re all products that we were competing against very effectively before, and we would expect that to continue to be the case.
Peter Heckmann – Avondale Partners: That’s great. And when we look at the 9% organic growth rate for the year, I think that’s probably triple what some of the peers are doing on a domestic organic basis. At one point, it felt like your credit union business was really the source of outperformance. And now the last couple of quarters, it feels like that outperformance is really across the board. Where do you attribute some of the strength on the Bank side to beyond just strong growth of electronic payments?
John F. ‘Jack’ Prim – CEO: Well, Pete, several things. The continued movement of in-house customers moving to outsourced processing represents an increase in revenues. Our payments products, both the Banking and Credit Union sides, have been very strong. Core system sales have been very solid. The ProfitStars Group continues to improve their effectiveness and particularly, their cross-sales effectiveness. It’s really been the case, for a while now. All three of those areas have come together pretty nicely at pretty much the same time. So, it’s nice when a plan comes together.
Kevin D. Williams – CFO and Treasurer: The other thing, Pete, to add is, as Jack mentioned, the movement from our existing in-house customers to outsourcing, continues to be very solid, and actually, it was a record year this last year, but the average asset size of some of those banks that are moving over have gotten quite a little bit bigger this last year.
Peter Heckmann – Avondale Partners: Then, Kevin, could you just aggregate for us, just for tracking purposes, on the one-timers? Can you talk about what portion was on the top line and what portion was cost recovery?
Kevin D. Williams – CFO and Treasurer: All of that was in the top line.
Peter Heckmann – Avondale Partners: About $4 million?
Kevin D. Williams – CFO and Treasurer: Yes.
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