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

Exactech, Inc. ( EXAC)

Q4 2011 Earnings Call

February 29, 2012 - 10:00 a.m. ET


William Petty – Chairman and Chief Executive Officer

Joel C. Phillips – Chief Financial Officer

David W. Petty – President


James Sidoti – Sidoti & Company, LLC

Christopher Sassouni – Eagle Asset Management, Inc.

William J. Plovanic – Canaccord Genuity, Inc.

Jason M. Bednar – Robert W. Baird & Company

James Terwilliger – Duncan-Williams, Inc.

Mark Landy – Summer Street Research Partners



Good day, ladies and gentlemen. Thank you for standing by and welcome to the Exactech fourth quarter and 2011 full year results conference call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be open for questions. (Operator Instructions) This conference is being recorded today, Wednesday, February 29, 2012.

I would now like to turn the conference over to Mr. Bill Petty, Chief Executive Officer. Please go ahead.

William Petty

Thank you and welcome to our conference call. I will begin with the SEC statement. The release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. They may represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ from those in the forward-looking statements.

These factors include the effect of competitive pricing, the company's dependence on the ability of third-party manufacturers to produce components on a basis which is cost-effective for the company, market acceptance of the company's products, and the effects of government regulation. Results actually achieved may differ substantially from the expected results included in these statements. I will first talk about Q4 2011.

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