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Oil-Dri Of America's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Oil-Dri of America (ODC)

Q2 2012 Earnings Call

March 12, 2012 11:00 am ET


Daniel S. Jaffee - Chief Executive Officer, President, Director and Member of Executive Committee

Ronda Williams -

Jeffrey M. Libert - Chief Financial Officer, Vice President and Treasurer


Robert Smith - Center for Performance Investing



Good day, ladies and gentlemen, and welcome to the Second Quarter 2012 Oil-Dri Corporation Of America Earnings Conference Call. My name is Derek, and I'll be your operator for today. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes. I would now like to turn it over it to Mr. Dan Jaffee, President and Chief Executive Officer. Please proceed.

Daniel S. Jaffee

Thank you, Derek, and welcome everyone to our second quarter and 6-month teleconference. As usual, Jeff Libert, CFO, is here; Doug Graham, our VP and General Counsel; and Ronda Williams, who heads up all of our Investor Relations, is here. And Ronda here is going to go through the Safe Harbor.

Ronda Williams

Sure. Thank you. On today's call, comments may contain forward-looking statements regarding the company's performance in future periods. Actual results in those periods may materially differ. In our press release and our SEC filings, we highlight a number of important risk factors, trends and uncertainties that may affect our future performance. We ask that you review and consider those factors in evaluating the company's comments and in evaluating any investment in Oil-Dri stock. Thank you.

Daniel S. Jaffee

Thanks, Ronda. And when the news is bad, I always throw Jeff a bone and let him go first and take the beating. But when the news is good, I'll take one from the team and make -- take one for the team and make a few gratuitous comments, and then turn it over to Jeff for the play-by-play. But I keep a spreadsheet of all the quarters going back to when I first became President, which is back in 1995, so now I have 17 columns on this crazy spreadsheet. So I can't go back any further than that. But in terms of our net income of $3.2 million, this was an all-time record quarter, for any quarter. And we had never broken $3 million before, frankly, never even really close to $3 million before. And I looked and actually it was better than 4 consecutive entire fiscal years of earnings back around the new millennium. So that was very exciting.

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