Good afternoon everyone and welcome to Oracle's second quarter fiscal year 2009 earnings conference call. With me on the call are Oracle’s Chief Executive Officer, Larry Ellison; Oracle’s President, Safra Catz; Oracle's President, Charles Phillips; and Oracle’s Executive Vice President and Chief Financial Officer, Jeff Epstein. We will begin with a few prepared remarks and then take your questions. Let me begin by reminding everyone that today's discussions may include predictions, estimates, or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements which reflect our opinion only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision of these forward-looking statements in light of new information or future events. Throughout today's discussion we will attempt to present some important factors relating to our business that may affect our predictions. You should also review our most recent Form 10-K and Form 10-Q for a complete discussion of these factors and other risks that may affect our future results or the market price of our stock. A PDF copy of our press release and financial tables, which include a GAAP to non-GAAP reconciliation, can be viewed and downloaded on the Oracle Investor Relations website at www.oracle.com/investor. With that I would like to turn the call over to Jeff Epstein for his opening comments. Jeff Epstein : Thank you Roy, good afternoon everyone and thank you for joining us. I’ll review our non-GAAP financial results focusing on constant currency growth rates unless otherwise stated. During the quarter the Euro, the British pound, and many other currencies fell substantially compared to the US dollar. This currency impact reduced new license revenues by 8%, total revenues by 7%, and earnings per share by 9% or $0.03 per share. In the second quarter our new software license revenues were $1.6 billion, up 5% in constant currency and down 3% in US dollars. EMEA grew 7%, the Americas grew 3%, and Asia grew 5%. Technology new license revenues were $1.2 billion, up 12% in constant currency and up 4% in US dollars. EMEA grew 16%, Americas grew 10%, and Asia grew 8%. BEA contributed approximately $127 million in new license revenues this quarter. Applications new license revenues were $469 million, down 9% in constant currency and down 15% in US dollars. EMEA was down 16%, Americas were down 6%, and Asia was down 2%. Our software license updates and product support revenues were $2.9 billion, up 21% in constant currency and up 15% in US dollars. Renewal rates continue to be very high because customers value the benefits they receive from our updates and support fueled by our $3 billion annual investment in research and development. Our services revenues were $1.1 billion up 5% in constant currency, and down 2% in US dollars. On demand revenues grew 19%, consulting grew 4%, and education fell 3%. Our total revenues were $5.7 billion, up 13% in constant currency and up 6% in US dollars. Operating income was $2.6 billion, up 25% in constant currency and up 18% in US dollars. Our non-GAAP operating margin grew by 460 basis points in US dollars to 46%, a record level of profitability for Q2. Our tax rate was 29.0%, higher then our guidance of 27% due largely to the foreign exchange impact on our earnings mix. We have a higher tax rate in the United States then abroad so a strengthening dollar will tend to increase our overall tax rate. We increased our stock repurchase activities in the quarter buying 108 million shares at an average price of $17.14 for a total of $1.8 billion for the quarter. As we have previously stated the rate of our buyback will fluctuate each quarter taking into account our stock price and alternative uses for our cash. Our non-GAAP earnings per share were $0.34, up 18% in constant currency and up 9% in US dollars. Our non-GAAP EPS was negatively impacted by $0.03 per share due to the strengthening dollar. Turning to the balance sheet we have $10.6 billion in cash and investments after our $1.8 billion stock buyback. Our day sales outstanding improved from 55 days last year to 52 days this year as we continued to focus on the quality of our receivables and the effectiveness of our collection efforts. We believe our bad debt reserve is appropriate and our reserve policy remains consistent with prior periods. Overall we generated a record $7.6 billion in free cash flow over the last four quarters growing 15% over the prior year. Now let me turn to guidance for the third quarter, like last quarter we will give guidance both in constant currency and in US dollars. Using today’s exchange rates implies approximately eight points of negative currency impact on our Q3 growth rates. For the third quarter we expect new software license revenues to grow a negative 2% to plus 8% in constant currency and minus 10% to flat assuming today’s rates. We expect non-GAAP and GAAP total revenues to grow 8% to 11% in constant currency and 1% to 4% assuming today’s rates. Assuming a Q3 tax rate of 28.5% we expect non-GAAP earnings per share to be $0.34 to $0.36 in constant currency and $0.31 to $0.33 assuming today’s rates. We expect GAAP earnings per share to be $0.26 to $0.27 in constant currency and $0.22 to $0.24 assuming today’s rates. We’d like to highlight three observations, first we have a large revenue and customer base diversified by product, by geography, and by industry in both the public and private sectors. We believe this broad platform allows us to outperform our competitors. Second our software license update and product support revenues on a trailing 12-month basis were $11.5 billion or approximately 48% of our total revenues with very high renewal rates. During the technology downturn from 2001 to 2003, our support revenues grew by 10%. Third we believe in continued investment in research and development. At the same time we are sensible in our approach to controlling costs. As a reminder during the last downturn our operating margins grew by 180 basis points from 2001 to 2003. Now I’ll turn the call over to Safra. Safra Catz : Thanks Jeff, as Jeff mentioned and all of you know the dollar strengthened substantially during the course of Q2 and the impact of the move in the currency also depends very much on the timing of the move in the quarter. As you know the dollar was under 1, 130 against the Euro for the entire month of November and for us that’s both the last and the most important month of Q2. As Jeff indicated we hit our license growth target on a constant currency basis and in dollars, currency impacted our new license revenue growth by five points more then the three points assumed in our September guidance. This brought us to a total of an eight point year-over-year headwind effectively bringing our Q2 new software license revenue guidance from the 2% to 12% to negative 3% to 7% based on currency alone. What’s not so obvious is the impact of currency on all the other line items. Such a substantial swing in currency during the quarter impacts us across the board including for example the nearly two points on our tax rate which by the way accounted for another cent of EPS. The strengthening dollar effects our revenue mix subjecting more of our revenue to the US tax rate which is of course among the highest in the world. To give you a tangible example of the currency impact on tax the shift in the dollar alone during the quarter completely overwhelmed the benefit we received from the R&D tax credit. Even ignoring the tax rate impact I just spoke of, had the dollar not strengthened so substantially throughout the quarter our non-GAAP EPS would have come in at around $0.37, again $0.03 higher, then what we reported today. Now of course obviously currency was not the only news going on in the quarter in the outside world and yet we feel just extremely good about our results. We’ll continue to make the smart choices as we manage the business but as Larry and Charles will address, the product and competitive positioning of the company is strong and that shows in the results. When you combine our product strength with our financial strength already delivering the highest margins among our peers and nearly twice as high as SAP, we believe we are well positioned relative to all of our competitors. With that I’ll turn it over to Larry. Larry Ellison : Thanks Safra, I’m going to highlight three separate product areas; middleware, sales automation on demand and our new database machine. Middleware sales continue to grow very strongly even in this economic climate, even after correcting for the strengthening of the dollar. We believe we are at least the same size as IBM in middleware and we may have in fact, have passed them to be the number one middleware company. If we haven’t passed them, we are very, very close in terms of revenue and our middleware business is growing dramatically faster then IBM’s middleware revenue. In sales on demand, our primary competitor there is salesforce.com and this quarter was conspicuous and a series of competitive wins against salesforce.com. One which was our largest ever on demand or cloud computing, whatever you want to call it, a competitive win over salesforce.com was actually a replacement of salesforce.com. The customer will be de-installing salesforce and replacing it with Oracle sales on demand so we’re very excited about that. That business is now growing. When we compete head-to-head with salesforce we win more deals then we lose and that’s new in the last couple of quarters. And finally the Oracle database machine which we introduced in Open World or we announced in Open World and we’ve begun selling this past quarter. As measured by pipeline growth and pipeline size, this is the most successful introduction of a new product in Oracle’s history so there’s huge interest out there and quantified by an enormous pipeline which we’ve built. We think its going to be a while before we are able to convert this pipeline, we’ve got a number of demonstration machines both Oracle and Hewlett Packard being put in the hands of customers but that business looks very, very promising and should help us drive growth over the next 18 months. With that I’ll turn it over to Charles Phillips. Charles Phillips : Thanks Larry, just to give you a sense of the activity of what’s going on out there our customers continue to engage in discussion, evaluation of new projects and technologies, our community is very active. Our sales events attendance which is a good indicator of future activity is still growing and up year-over-year as is our pipeline and obviously we have to see how that closes out in the balance of the year. But our strategy of having an integrated [stack] that spans database, middleware, CRM, ERP, and industry applications plays very well in an environment where customers are having to rationalize technology investments and reduce complexity. So we can help customers consolidate these systems, retire customizations and below cost platforms better then any other company so those messages aren’t new for us. We’ve been consistent in saying them but they are suddenly much more relevant to customers right now. A few comments by product area, and database area, to highlight as Larry mentioned was the HP Oracle database machine which is certainly attracting a lot of interest out of the gate. Just to give you a sense of why that is, [Mobile Tel] for instance is evaluating our database machine for fast performance on 65 billion records of data. Their initial query performance is 10x to 72x faster then their current systems. The Chicago Mercantile Exchange, they had a query that was taking four minutes, they tested it, and it ran in 10 seconds. They weren’t even aware that the query had completed. So that’s the type of performance that we’re seeing and the machine is starting to sell itself. Moving on to middleware, middleware was clearly the standout in the quarter. We continue to post strong numbers there in market share gains. I just wanted to clear up a little controversy on kind of how we’re doing post BEA since there have been some questions out there. So number one, all the products within [Fusion] middleware are growing very strongly including [inaudible], portals, BI, identity management, and content management. We now have 80,000 customers. We are growing at four to five times the rate of IBM Web Sphere. We are clearly taking share so I wanted to give you a sense of the types of head to head wins we are enjoying against IBM Web Sphere and just in Q2 alone, companies like [Rapeon], The IRS, DFW Airport, USDA, New Core Steel, China Mobile, [Dubai] Insurance Group, Toshiba, The Good Guys in Australia, Nebraska State College, South Bank, the German Federal Employment Office, KB Finance Group, [Telephonica], and there’s more we could talk about. So we’re continuing to enjoy a strong performance in middleware and gaining market share there. Other general wins for middleware on the general platform, Wellington Management, application server PG&E where we replaced Net Weaver, Verizon Communications, [Equinex] where we replaced [JBoss], for the [inaudible] platform the University of Arizona, I EEE, for performance management the Hyperion products, St. Jude Medical, Internal Revenue Service, even though they’re using the SAP backend they want to consolidate in our products. Business intelligence, we had good wins over business objects and SAP at [We Pro], Fitch Ratings, Network [World] in the UK, content management good wins at Allstate, Department of Labor, and [Accent] Australia. In identity management, International Paper where we replaced Computer Associates and [Megabond]. In the applications area Larry mentioned that we’re doing very well in CRM on demand and we’re certainly getting our traction now. What we think is happening is is the market is becoming more sophisticated as enterprises start to deploy and scale and they’re demanding enterprise integration scalability and security. We have strong customer adoption at Siemens, we had a 12,000-seat win, that’s [inaudible] implementation and we’ll become the standard there. US Food Service where we beat salesforce.com about 7,000 users there. [Matreol] Healthcare displaced salesforce.com there and in West Pack where we also beat saleforce.com. So we have had quite a bit of momentum there and I forgot to mention [Swisscom] as well, another 3,000 seats. We’re making good progress on AIA, our integration platform. Four new process integration packs in the quarter, that makes a total of 20. We shipped JD Edwards to [inaudible], Siebel trade management, to [demantra] and to several others. Some addition application wins to highlight, ERP, [Gentrix] Corporation, [inaudible]. In the area of CRM on premise, HP and Eli Lily. For Agile PLM, [Telmar] Networks, Digital Health Group, Demantia, Demand Planning, NCR Corporation, Land-o-Lakes, transportation management, McGraw Hill and [Valspar]. In the area of banking, Brazilian American Merchant Bank and Union Bank of California. Our communications GBU had another good quarter, won Cox Communications which was a replacement win over [Amdocs], Swisscom, Tacona Digital Networks, another win over Amdocs, and [inaudible] UK. In tax and utilities CBU, good wins at the Mexican [Tax] Institute, Trust [inaudible] and in healthcare, [Sharingplow] and Elon Pharmaceuticals. This is also a good time for people to consider focusing on ways on getting to the latest release and we’re seeing a lot of good activity there. Once they’re on the latest release is they become eligible for more add-on and product sales for us for up sell and cross sell. So just to give you a sense of that Siebel 8.0, 42% of the customers on the latest, people soft 9.0, 40% as well. And we’re seeing more customers move about 4% to 5% a quarter for each of the major product lines. We had about 25 new releases this quarter for our major applications. All those major product lines are certified on 11G. That helps our uptick there as well. And then lastly some go-lives in the quarter that are important to track, Face Book and HBO, on the enterprise EBS R12 Green Mountain Coffee, Duke University. In addition we had Payless Shoes, Pfizer Animal Health, Monster Worldwide, [Synaptics], and Las Vegas Water Supply. With that, we’re ready for your questions.