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Well good afternoon ladies and gentlemen. Welcome to Toro Company's 2012 annual meeting of shareholders. My name is Mike Hoffman and I'm the Chairman and CEO. This meeting is being webcast and I would like to extend a special welcome to those listening. As you can see here from our agenda, following instructions we will conduct the formal portion of our annual meeting. I will then spend a few minutes talking to you about our business.
Before we adjourn to enjoy some refreshments and to view some of the new products that we have on display, I will be happy to take any questions. I would ask that you hold your questions until that time. I would now like to introduce the independent members of our Board of Directors. Please hold your applause until all of our directors have been introduced.
Robert Buhrmaster, the Retired Chairman and Chief Executive Officer of Jostens and our presiding non-management Director; Janet Cooper the Retired Senior Vice President and Treasurer of Qwest Communications International; Gary Ellis, the Senior Vice President and Chief Financial Officer of Medtronic; Jeff Ettinger, the Chairman, President and Chief Executive Officer of Hormel Foods; Kathy Harless, the Retired President and Chief Executive Officer of Idearc; Bob Nassau, the Retired President and Chief Executive Officer of St. Raymond Wood Products; Gregg Steinhafel, the Chairman, Chief Executive Officer and President of Target; and Chris Twomey, the current Chairman and Retired Chief Executive Officer of Arctic Cat. Please join me in thanking these directors for all of their contributions to the Toro Company.