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Capstead Mortgage 4th Quarter 2011 Conference Call Transcript


Greetings. Welcome to Capstead Mortgage Corporation (CMO) Fourth Quarter 2011 earnings conference call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press *0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Kelly Sargent, manager, Investor Relations. Thank you, Ms. Sargent. You may begin.

Kelly Sargent, Investor Relations, Capstead Mortgage

Thank you Rob. Good morning. Thank you for attending Capstead's fourth quarter 2011 earnings conference call. The fourth quarter 2011 earnings press release was issued yesterday afternoon, February 1. The press release is posted on the website at The link to this webcast is in the investor relations section of our website and an archive of the call will be available for 60 days. A telephonic replay of this call will be available through March 2. Details for the replay are included in yesterday's earnings release.

Starting off today's call is Andy Jacobs, our President and CEO. But before we get started, I want to remind you that some of today's comments could be considered forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and are based on certain assumptions and expectations of management. For a detailed list of all the risk factors associated with our business, please refer to our 2010 Annual Report on Form 10-K and our 2011 quarterly reports on Form 10-Q, which are available on our website under the investor relations section, SEC filings. The information contained in this call is current only as of today's date, February 2, 2012. The company assumes no obligation to update any statements, including any forward-looking statements made during today's call. With that, I will turn the call over to Andy.

Andy Jacobs, President & CEO of Capstead Mortgage

Well, good morning, and also I'll give my welcoming for the fourth quarter 2011 earnings call. As usual I'm joined by Robert Spears, our portfolio manager, and Phil Reinsch, our CFO, both of whom will be available for questions after my opening remarks.

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