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Park-Ohio CEO Discusses Q2 2010 Results - Earnings Call Transcript

Park-Ohio Holdings Corp. (PKOH)

Q2 2010 Earnings Call

July 28, 2010 10:00 am ET

Executives

Edward Crawford - Chairman and CEO

Matt Crawford - President and COO

Analysts

Richard Paget - Morgan Joseph

Douglas Ruth - Lenox Financial Services

David Marsh - McMahan Securities

Alan Weber - Robotti & Company

Presentation

Operator

Good morning and welcome to the second quarter 2010 results conference call. (Operator Instructions)

Before the conference begins, please remember that the company will be discussing some issues that are historical and some issues that are forward-looking. When the company speaks about future results or events, there are a variety of factors that may materially change their actual results from those projected. A list of relevant factors may be found in the earnings press release as well as the company's 2009 10-K filed with the SEC on March 15, 2010. The company undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.

Additionally, the company may discuss EBITDA. EBITDA is a measure of performance under Generally Accepted Accounting Principles and is considered a non-GAAP financial measure as defined by the SEC. The company may present EBITDA, because management believes that EBITDA could be useful to investors as an indication of their ability to incur or service debt and because EBITDA is a measure under their credit facility to determine whether they may incur additional debt under such facility. For reconciliation for income before the income taxes up to EBITDA, please refer to the company's current report on Form 8-K furnished to the SEC on July 27, 2010.

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