The company lost $2.9 million in the most recently ended quarter, compared to net income of $2.9 million in last year’s corresponding period. Meanwhile, revenue jumped to just under $88 million, an increase of 36.5 percent from $64.5 million a year earlier. The loss stems from the fact that the company is spending into growth to expand operations. Sales and marketing expenses nearly doubled to $22.6 million from $11.4 million. Deltek also reported a restructuring charge of $3.8 million. On the revenue side, the big story was the company’s move to subscription and term licensing. It reported $9.8 million from those methods, compared to $71,000 in last year's second quarter. As has been the case with the past few quarters, there was no mention of revenue coming from the channel. Parker was enthusiastic about Maconomy's potential to get Deltek in to the accounting firm market. He said a "top fifteen" U.S. accounting firm has acquired the project accounting product and continued that "the U.S. accounting market represents a very good opportunity for us."