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April 27, 2012 10:00 am ET
Joseph D. Rupp - Chairman, Chief Executive Officer, President and Chairman of Executive Committee
John E. Fischer - Chief Financial Officer and Senior Vice President
John L. McIntosh - Senior Vice President of Operations
Frank J. Mitsch - Wells Fargo Securities, LLC, Research Division
Christopher W. Butler - Sidoti & Company, LLC
Aleksey V. Yefremov - BofA Merrill Lynch, Research Division
Donald Carson - Susquehanna Financial Group, LLLP, Research Division
Dmitry Silversteyn - Longbow Research LLC
Herbert Hardt - Monness, Crespi, Hardt & Co., Inc., Research Division
Edward H. Yang - Oppenheimer & Co. Inc., Research Division
Gregg A. Goodnight - UBS Investment Bank, Research Division
Jeffrey Linn Gates - Gates Capital Management, Inc.
Good morning, and welcome to Olin's First Quarter 2012 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Mr. Joseph Rupp, Chairman, President and CEO. Please go ahead, sir.
Joseph D. Rupp
Good morning, and thank you for joining us today. With me this morning are John Fischer, Senior Vice President and Chief Financial Officer; John McIntosh, our Senior Vice President of Operations; and Larry Kromidas, our Assistant Treasurer and Director of Investor Relations.
Last night, we announced that net income in the first quarter of 2012 was $38.7 million, or $0.48 per diluted share. First quarter 2012 net income included a $1.9 million pretax restructuring charge, primarily associated with our ongoing Winchester centerfire relocation project. Sales in the first quarter of 2012 were $507.2 million.