RE:Q1 positivesYeah, debt is alot lower than I expected. 3.19x last quarter vs 3.02x this quarter and expected to be 2.75 to 2.6 by end of 2016.
Revenue was more or less in line which leads me to worry less about the eps miss.
Adjusted eps missed by 12 cents partially due to lower margins. Margins lower on renewal timing. Kind of sucks but management says margins to gradually improve through 2016 back to 30%.
Headline numbers ugly but underneath I think its not as bad as I initially thought. Down day, tomorrow, but long term thesis still intact. Debt is the reason this is trading at a discount to its peers and it looks like management is doing a decent job of shaving that down quarter after quarter.