America Service Group, Inc. (
Q3 2010 Earnings Conference Call
October 29, 2010 11 AM ET
Rich Hallworth – President, CEO and COO
Mike Taylor – CFO, EVP, and Treasurer
Jon Walker – SVP, Chief Development Officer
Kevin Campbell – Avondale Partners
Michael Lamb – Wealth Monitors
Welcome to the America Service Group’s third quarter 2010 conference call. During the presentation all participants will be in a listen-only mode and afterwards we will conduct a question-and-answer session.
As a reminder, this conference is being recorded today Friday, October 29, 2010 and I would now like to turn the conference over to Mr. Richard Hallworth, President and Chief Executive Officer. Please go ahead sir.
Good morning. Welcome to our Q3 2010 earnings call. A copy of our press release addressing our third quarter results can be found on our website, www.asgr.com. After my opening remarks I’ll ask Mike Taylor to more specifically discuss our financial performance for the quarter.
Overall, I am pleased with our performance in the third quarter. Our contract portfolio continues to produce margins above our internal expectations. Our performance to date has given us the confidence to reaffirm our EBITDA guidance and again increase our full-year earnings per share guidance.
During the quarter our very strong contract performance was again tempered by adverse medical malpractice development. (Inaudible) industry, THS renders millions of patient encounters every year in a very challenging physical environment. We are proud of the quality of care our 5000 caring professionals render and are disappointed when there is an unfortunate even, which causes patient harm.