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Polypore's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Before we begin our presentation today, I'd like to remind you of some important considerations. This conference call and webcast might contain forward-looking statements within the meaning of federal securities laws. We intend these forward-looking statements to be covered by the Safe Harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties, and assumptions made by management about Polypore and the industry and environment in which we operate.

These forward-looking statements are not guarantees of future performance and may differ materially from actual events or results because they involve estimates, assumptions, and uncertainties. You're cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which they are made which is Thursday, February 3, 2012. Polypore undertakes no obligation to update or revise any forward-looking statements whether as the result of new information, future events, or otherwise.

You're also directed to consider the risks, uncertainties, and other factors discussed in documents filed by us with the SEC including those matters summarized under the captions, Item 1A. “Risk Factors”, in our most recent 10-K filing with the SEC and "Risk Factors" in Amendment No. 2 to the Form S-4 filed on May 13, 2011. Today, I'm joined by Bob Toth, President and Chief Executive Officer; Lynn Amos, Chief Financial Officer; and Rob Whitsett, Vice President of Finance. And at this point, I'll turn the call over to Bob for some opening remarks.

Robert B. Toth

Thank you, Kathy. Thanks everyone for joining us today. 2011 was another year of solid growth and a year of execution on our many investments and our growth strategies. We experienced some headwinds in the fourth quarter and we're currently being impacted by some near-term items and we'll address these in our time today. Having said that, while we always drive to optimize near-term performance, and while there may be variability based on near-term events, we're building this business for the long-term. Our goal is to provide you with as much transparency as possible associated with our growth especially around the EDV opportunity going forward. To be clear, when we reference Electric Drive Vehicles or EDVs, we're referencing the full range of electrification of vehicles, from hybrids which are internal combustion engines with batteries for supplemental power; to plug-ins, which are battery-driven vehicles yet have a backup combustion engine; the full battery electric vehicles which are obviously battery-driven and do not have an internal combustions engine. If you missed our informational call on February 3, I'd encourage you to go back and listen it or get the transcript. During that call, we discussed a lot of information about our lithium separator process technology, product technology, as well as our distinct competitive advantages. At this point, I'll turn it over to Lynn to cover the financials and then I'll come back with some closing comments.

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