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U.S. Physical CEO Discusses Q3 2010 Results - Earnings Call Transcript

U.S. Physical Therapy, Inc. (USPH)

Q3 2010 Earnings Call Transcript

November 4, 2010 10:30 am ET

Executives

Chris Reading – President and CEO

Jon Bates – VP and Controller

Larry McAfee – EVP and CFO

Glenn McDowell – COO

Analysts

Brian Tanquilut – Jefferies & Company

Mitra Ramgopal – Sidoti & Company

Larry Solow – CJS Securities

Presentation

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the U.S. Physical Therapy Q3 2010 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator instructions). Thank you.

I would now like to turn the conference over to Mr. Chris Reading, President and CEO. Please go ahead, sir.

Chris Reading

Thank you operator. Good morning everyone. Thank you for joining us as we prepare to discuss our third quarter and year-to-date earnings performance. With me here in Houston, Larry McAfee, our Executive Vice President and Chief Financial Officer; Glenn McDowell, our Chief Operating Officer; and Jon Bates, our Vice President and Controller.

Before we begin, I will ask Jon to cover our brief disclosure. Jon?

Jon Bates

Thanks Chris. This presentation contains forward-looking statements, which involve certain risks and uncertainties. And these forward-looking statements are based on the company’s current views and assumptions and the company’s actual results can vary materially from those anticipated. Please see the company’s filings with the Securities and Exchange Commission for more information.

Chris Reading

Thanks Jon. On our last quarterly call, you might remember that I went off script a little bit and spent a lot of time discussing the reasons behind our strong performance this year with special attention in store partners around many of our largest markets who have really done well making the necessary changes that have allowed us to navigate in an otherwise very challenging economic market over the past two years quite successfully. I am not going to revisit that discussion. I do want to highlight and explain our progress in a variety of areas and the underpinnings of that and to explain the challenges that we expect to overcome.

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