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Robert L. Recchia - Chief Financial Officer, Principal Accounting Officer, Executive Vice President, Treasurer, Director and Member of Executive Committee
William G. Bird - Lazard Capital Markets LLC, Research Division
Alexia S. Quadrani - JP Morgan Chase & Co, Research Division
Mark J. Zgutowicz - Piper Jaffray Companies, Research Division
Daniel Salmon - BMO Capital Markets U.S.
Daniel R. Leben - Robert W. Baird & Co. Incorporated, Research Division
Edward J. Atorino - The Benchmark Company, LLC, Research Division
Ladies and gentlemen, thank you for standing by, and welcome to the Valassis First Quarter 2012 Earnings Conference Call. [Operator Instructions] I would like to remind you that the discussions during this conference call will include forward-looking statements and that Valassis' actual results could differ materially from those projected in the forward-looking statements. The factors that could cause actual results to be materially different from those expressed or implied by such forward-looking statements are discussed in the risk factors and other sections of the 2011 annual report on Form 10-K and the reports on Form 10-Q and Form 8-K filed or furnished with the SEC.
Also, the discussions during this conference call will include certain financial measures that were not prepared in accordance with Generally Accepted Accounting Principles. Reconciliation of those non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the press release furnished with the current report on Form 8-K dated today, which is also available on Valassis' website at www.valassis.com in the Investors section.