Revenue grew over prior year. Results reflect the implementation of the new revenue recognition standard (ASC 606). Revenue and EBIT were favorably impacted in the quarter by $11 million and $9 million, respectively, as a result of the timing of the revenue recognition. Excluding this impact, revenue declined from prior year driven by a lower level of large deals in the quarter. This quarter’s performance was also impacted by a higher mix of SaaS deals relative to up-front license deals. EBIT and EBITDA margins increased from prior year largely driven by the higher revenue.

While the Company benefited from the timing of recognized revenue this quarter, the Company does not expect the full year impact of ASC 606 to be material.