For the fourth quarter, revenue was $1.34 billion, down 6% year over year. Excluding the results of one of our trading systems businesses, a broker/dealer, revenue and organic revenue were both up 1%. For the fourth quarter, operating income was $202 million, compared to an operating loss in 2009 of $943 million. Adjusted EBITDA was $428 million, down 2%, and adjusted operating income was $342 million, up 1%. During the quarter, the Company sold its Public Sector U.K. operation, which is treated as a discontinued operation and is no longer reported in continuing operations. Adjusted EBITDA, adjusted operating income, and organic revenue are defined in Notes 1, 2 and 3 in the Notes attached to this release.

Cristóbal Conde, president and chief executive officer, commented, "We had a strong finish to the year and won some large multi-million dollar deals. We are selling more strategically at a higher level and our wins are helping move us in a good direction. The tone of business is improving but somewhat unevenly and at different rates across our businesses. Overall, our competitiveness is very strong and we are optimistic about our outlook tempered by some caution regarding the macro-economic environment."

For full-year 2010, revenue decreased 6% to $4.99 billion. Excluding the broker/dealer business mentioned above, revenue and organic revenue were both up 1%. Adjusted EBITDA was $1.41 billion and adjusted operating income was $1.07 billion. For full-year 2010, operating income was $268 million, compared to an operating loss in 2009 of $581 million.

Financial Systems revenue decreased 6% to $786 million in the fourth quarter, with total revenue of $2.81 billion for the year. Excluding the broker/dealer business mentioned above, revenue and organic revenue were each up 6% for both the quarter and the full year. License fees were $98 million, an increase of $15 million compared to the fourth quarter of 2009. For full-year 2010, license fees were $237 million, an increase of $63 million compared to last year.

Notable deals in the quarter included the following:

• A leading Canadian financial institution selected SunGard's Adaptiv risk management solution to help manage its market and credit risk.
• One of the world's largest financial institutions selected SunGard's Asset Arena to help build a fund accounting solution.
• A leading global provider of XBRL (eXtensible Business Reporting Language) solutions selected SunGard to provide business process outsourcing services to help expand its current electronic data gathering and filing capabilities.

Higher Education revenue decreased 5% to $130 million in the fourth quarter, with total revenue of $502 million for the year. License fees were $13 million, a decrease of $1 million compared to the fourth quarter of 2009. For full-year 2010, license fees were $36 million, an increase of $4 million compared to last year.

Notable deals in the quarter included the following:

• A leading U.S. medical school selected SunGard's Banner Digital Campus solution and application hosting.
• One of the largest independent educational institutions in the U.S. Pacific Northwest extended its relationship with SunGard to help manage its information technology.
• A national public research university in South Carolina selected SunGard's Banner Digital Campus solution to help improve its technology infrastructure.

Public Sector revenue decreased 7% to $53 million in the fourth quarter, with total revenue of $214 million for the year. License fees were $5 million, flat compared to the fourth quarter of 2009. For the full-year 2010, license fees were $15 million, a decrease of $8 million compared to last year. As previously mentioned, during the quarter, the Company sold its Public Sector U.K. operation which is treated as a discontinued operation.

Notable deals in the quarter included the following:

• A county in Minnesota selected SunGard to provide enterprise finance and human resource applications.
• A county in North Carolina selected SunGard to provide solutions for records management, jail management and mobile computing.
• A public safety agency in Georgia chose SunGard to provide a software solution for computer-aided dispatch.

Availability Services revenue decreased 4% to $369 million in the fourth quarter, with total revenue of $1.47 billion for the year.

Notable deals in the quarter included the following:

• One of the largest health insurers in the U.S. Pacific Northwest selected SunGard to provide disaster recovery and consulting services.
• A leading IT outsourcing company in Canada selected SunGard for managed hosting and consulting services.
• A leader in North America in branded apparel programs and facility services selected SunGard for disaster recovery planning, managed recovery and testing.

Financial Position

At December 31, 2010, total debt was $8.06 billion and cash balances were $778 million, compared to total debt of $8.32 billion and cash balances of $642 million at December 31, 2009. During the fourth quarter, the Company received $138 million from the sale of its Public Sector U.K. operation. These proceeds, together with other available cash, were used to repay debt. In addition, during the fourth quarter, the Company refinanced its Senior Notes due 2013, reducing its weighted average cost of debt and improving its debt maturity profile by issuing $900 million of 7.375% Senior Notes due 2018 and $700 million of 7.625% Senior Notes due 2020. As a result of this activity, the Company incurred a $58 million loss on the extinguishment of debt in the quarter, primarily to retire the 2013 Notes. The Company's leverage ratio, as defined in its senior secured credit facility, ended the year at 4.99. During 2010, the continuing operations of the Company generated $714 million in cash flow from operations, invested $312 million in capital expenditures, and spent $82 million on acquisitions net of acquired cash.