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April 25, 2012 8:30 am ET
Elise Caffrey - IR
Colin Angle - Chairman and CEO
John Leahy - CFO
James Ricchiuti - Needham & Company
Barbara Coffey - Brigantine
Mark Strouse - JPMorgan
Adam Fleck - Morningstar
Josephine Millward - Benchmark
Jim Ricchiuti - Needham & Company
Good day everyone and welcome to the iRobot first quarter 2012 earnings financial results conference call. At this time, for opening remarks and introductions, I would like to turn the call over to Elise Caffrey of iRobot Investor Relations.
Thank you and good morning. Before I introduce the iRobot management team, I'd like to note that statements made on today's call that are not based on historical information are forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and uncertainties, and involve a number of factors that could cause actual results to differ materially from those expressed or implied by such statements. Additional information on these risks and uncertainties can be found in our public filings with the Securities and Exchange Commission. iRobot undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information or circumstances.
During this conference call we will also disclose non-GAAP financial measures as defined by SEC Regulation G, including adjusted EBITDA, which we define as earnings before interest, taxes, depreciation, amortization, merger and acquisition expenses, restructuring expenses, net intellectual property litigation expenses, and non-cash stock compensation. A reconciliation of GAAP and non-GAAP metrics can be found in the financial tables at the end of the first quarter 2012 earnings press release issued last evening, which is available on our website.