CapLease, Inc. Q1 2010 Earnings Call Transcript

Wright Express Corporation (WXS)

Q1 2010 Earnings Call

May 05, 2010 10:00 am ET

Executives

Brad Cohen - VP of IR

Paul McDowell - Chairman and CEO

Shawn Seale - CFO

Analysts

Gabe Poggi - FBR

Craig Mailman - KeyBanc Capital Markets

John Apgar - Citigroup

Sheila McGrath - KBW

Todd Stender - Wells Fargo

Presentation

Operator

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Greetings and welcome to the CapLease first quarter 2010 earnings conference call. At this time, all participants are in a listen only mode, a brief Question-and-Answer session will follow the final presentation. (Operator Instructions) As a reminder this conference is being recorded.

It is now my pleasure to introduce, Mr. Brad Cohen. Vice President of IR thank you Mr. Cohen, you may begin.

Brad Cohen

Thank you very much operator. Today I would like to remind everyone that part of our discussions this morning will include guidance and other forward-looking statements and these statements are not guaranteed to future performance and therefore, undue reliance should not be placed on them. We refer all of you to CapLease's first quarter 2010 earnings release and filings with the Securities and Exchange Commission for a more detailed discussion of important factors that could cause actual results to differ materially from those contained in the company's forward-looking statements. The company disclaims any obligation to update its forward looking statement.

Also during the call today, the company will be discussing funds from operation, or FFO, FFO as adjusted from comparability and cash available for distribution or CAD which are non-GAAP financial measures. Please read the company’s press release for reconciliation of FFO. FFO I suggested is a comparability in cash of net income the most directly comparable GAAP measure. It’s now my pleasure to turn the call over to CapLease's Chairman and Chief Executive Officer, Mr. Paul McDowell. Paul?