Tim Klasell – Thomas Weisel Partners
Okay and then maybe if you could give us a little color then directionally maybe just on the off balance sheet component then. I know you don’t like to give details midyear, but maybe in light of what happened this quarter you can give us maybe some directional color.
Charlie Peters
No, as you said, my history going back three or four years, I only really talk about that one time of the year in fourth quarter, so I don’t have anything to add at this point.
Tom McCallum
Next question please.
Operator
Your next question comes from the line of Katherine Egbert of Jeffries. Your line is now open.
Katherine Egbert – Jeffries & Co
Not to beat a dead horse Charlie, but just quickly are the multiyear deals renewing for multi years or are they renewing at either one year at a time, or are they renewing except they are paying one year at a time although they are committed to multi year.
Charlie Peters
When it comes to renewals, basically we’d almost always renew on very similar terms as the prior deal. So if it was a prior three year deal, it’s probably most likely very high probability it’s going to renew on a three year deal and I’m not aware of any particular situations where a large renewal deal changed the payment terms. It’s just on some of the large newer deals.
Jim Whitehurst
You recognize we didn’t do a lot of three year deals three years ago. So we don’t have a whole lot of experience this quarter with renewing three year old deals from three years ago.
Katherine Egbert – Jeffries & Co
Okay got it and then a quick follow up. Your subscriptions are back over to 85% of total revenue. Can you flesh out a little bit more, why services is weaker in this economy? Thanks.
Charlie Peters
Yeah, I think particularly on the training side, travel is a discretionary item and just knowing what CFO’s are likely to look at, it is certainly one thing that is fairly variable, and travel and training sometimes is the first to go. I think if you look at other software results, released recently you’ll see fairly similar kind of results in services and training.
Tom McCallum
Thank you. Next question operator.
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