Andy Schulz - Vice President of Investor Relations
Jerre Stead - Chairman and Chief Executive Officer
Scott Key - President and Chief Operating Officer
Richard Walker - Executive Vice President and Chief Financial Officer
Suzanne Stein - Morgan Stanley
Manav Patnaik - Barclays Capital
Eric Boyer - Wells Fargo
Peter Appert - Piper Jaffray
Michael Meltz – JPMorgan
Bill Sutherland - Northland Capital Markets
William Warmington - Raymond James
Brian Karimzad - Goldman Sachs
Robert Riggs - William W Blair
Kelly Flynn - Credit Suisse
Good day ladies and gentlemen and welcome to the Fourth Quarter 2011 IHS, Inc. Earnings conference call. My name is Lacy and I will be your coordinator for today. (Operator Instructions) I would now like to turn the presentation over to your host for today’s call, Mr. Andy Schulz, Vice President of Investor Relations. Please proceed.
Thank you, Lacy. Good morning and thank you for joining us for the IHS Fourth Quarter and Fiscal 2011 Earnings conference call. We issued our earnings release and a supplemental presentation earlier this morning. If you do not have the release and the presentation we issued today, you will find copies of them on our website at ihs.com.
Some of our comments and discussions on the quarter are based on non-GAAP measures. Our non-GAAP are adjusted numbers exclude stock-based compensation and other non-cash charges and other items. Our earnings release includes both our GAAP-based income statement and statement of cash flows and reconciliations to the non-GAAP measures discussed during this call. These reconciliation schedules can also be found on our website. The non-GAAP results are a supplement to the GAAP financial statements. IHS believes this non-GAAP presentation and the elimination of these items is useful in order to focus on what we deem to be a more reliable indicator of ongoing operating performance.