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Career Education Corporation (
Q4 2011 & Year End Earnings Call
February 28, 2011 10:00 am ET
John Springer – Vice President Strategy & Investor Relations
Steven H. Lesnik – Chairman of the Board, President & Chief Executive Officer
Michael J. Graham – Chief Financial Officer & Executive Vice President
Gary Bisbee – Barclays Capital
Robert Craig – Stifel Nicolaus & Company, Inc.
Jeff Mueller – Robert W. Baird & Company
Suzanne Stein – Morgan Stanley
Jeff M. Silber – BMO Capital Markets
Corey Greendale – First Analysis
Trace Urdan – Wunderlich Securities, Inc.
James Samford – Citi
Patrick Elgrably – Credit Suisse
Analyst for Peter Appert – Piper Jaffray
Welcome to the fourth quarter and full year 2011 earnings conference call. At this time, all participants are in a listen only mode. Later we will conduct a question and answer session. Please note that this conference is being recorded. I will now turn the call over to Mr. John Springer.
Thank you for joining us on our fourth quarter 2011 earnings call. With me on the call this morning are Steve Lesnik, President and Chief Executive Officer and Mike Graham our Executive Vice President and Chief Financial Officer. Following remarks made by management, the call will be opened for analyst and investor questions.
This conference call is being webcast live within our investor relations section of our website at
www.CareerEd.com. A reply of this call will also be available on our site. If we do not get to your question during the call, please call our investor relations department at 847-585-3899. Now, before I turn the call over to Steve, let me remind you that yesterday’s press release and remarks made today by our executives may include forward looking statements as defined in the Private Securities Litigation Reform Act of 1995.
These statements are based on information currently available to us and involve risks and uncertainties that could cause our actual future results and performance and business prospects and opportunities to differ materially from those expressed in or implied by these statements. These risks and uncertainties include, but are not limited to, those factors described in our quarterly earnings release, our annual report on Form 10K for the year ended December 31, 2011 and our other filings with the Securities & Exchange Commission.