Park-Ohio Holdings Corp (
Q3 2010 Earnings Call Transcript
November 9, 2010 10:00 am ET
Matt Crawford – President and COO
Edward Crawford – Chairman and CEO
Jeff Rutherford – CFO
Richard Paget – Morgan Joseph
David Marsh – Odeon Capital
Michael Levine – BB&T
Doug Ruth – Lenox Financial Services
Matt Vittorioso – Barclays Capital
John Baum – Shareholder Park-Ohio
Good morning, and welcome to the Third Quarter 2010 Results Conference Call. At this time all participants are in a listen-only mode. After the presentation the company will conduct a question-and-answer session. Today’s conference is also being recorded. If you have any objections you may disconnect at this time.
Before the conference call 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 events, there a variety of factors that may materially change their actual results from those projected. A list of relevant factors that may be found in the earnings press release as well as in the company’s 2009 10-K filed with the SEC on March 15, 2010.
The company undertakes no obligations to update any forward-looking statements whether a result of new information, future events or otherwise. Additionally, the company may discuss EBITDA. EBITDA is not 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 indication of their ability to incur and service debts and because EBITDA is a measure of use under their credit facility to determine whether they have incurred additional debt under such facility for reconciliation from income before income taxes to EBITDA. Please refer to the company’s current report on Form 8-K furnished to the SEC on November 8, 2010.