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WESCO International CEO Discusses Investor Day - Earnings Call Transcript

And new this year and we talked about it last year, he is going to spend substantial time reviewing what our gross margin expansion plans are. More detail than we've shared in the past. We will then move into our growth engines. You will recall for those of you that were here last year we drilled down on three different growth engines last year. We've got four this year. One we brought back but last year it was only data communications. Now it’s been renamed Communications & Security and it’s a much broader growth engine now that we've acquired TVC Communications in December of last year.

Our run rate on our Communications product and services portfolio is $1 billion plus and you will hear from David Bemoras on that. We’ve now jump ahead of Graybar and have a number two market position behind Anixter. That will be followed by Richard Heyse, our CFO. He will outline our latest expectations for 2011, what our results are and he will give you an early look at 2012. That's new for this year. We didn't do that last year, so we will give you our initial outlook and kind of the construct for how we think about 2012 and in addition we will provide a three year outlook on our financial targets and cash utilization priorities.

Last year we went through 2013 and Richard will show you that we are ahead of the pace of those targets that were set and this year we will extend that out through 2014. So let's move to the next page and let's talk about what progress we've made and how we are accomplishing our results versus our growth strategy. This was launched in the fall of 2009 and it was reviewed in detail in last year's Investor’s Day. So specifically upon the conclusion of the CEO succession plan in September of 2009 what have we done, we've defined and launched our eight growth engines.

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