Here are notes from today's Q2 earnings call...

-> A strong quarter: $41.3 million. Margins are up.

-> Even though their revenues from HP are down (due largely to HP's reorg), they have done well in growing existing accounts and adding accounts. Microsoft remains their largest account -- strong quarterly revenues from Microsoft in Lionbridge history. Also doing work for Beverly, AOL, Google, Merck.

-> New project wins from GE, Motorola, and Capital One. Capitol One will be using Lionbridge to target non-English speakers within the US.

-> Testing division revenues down, although margins are up thanks to sending work to India.

-> The India offices will execute $30 million in projects this year.

-> Have regulatory approval for Bowne Global acquisition. Now working on integration.

-> Are combining redundant offices, consolidating backend systems.

-> Expect revenues of combined BGS and Lionbridge to be equal to or greater than the sum of the parts.

-> $400m to $430m revenue target.

Here's the press release.