Let me take a minute to look at some of the key metrics that we are following. In the quarter, we achieved an adjusted EBITDA of $236 million, or about 12.3% adjusted EBITDA margin for the quarter. This represents steady performance on $1 and margin basis versus pro forma results in the first quarter of 2011, even though market conditions and input costs have become more challenging in the first quarter of 2012. We're also comfortable with our free cash flow and net debt outlook and continue to expect to generate $450 million to $475 million of free cash flow in 2012. Tod will discuss additional details on our cash flow after my comments.Lastly, we prepay $31 million of our outstanding term loans in the quarter, staying a year ahead on our payment installments and remaining committed on using cash to pay down debt. Looking at earnings per share, we did report a loss of $0.03 per share in the quarter but that did include the impact of $0.21 of special items including integration costs and restructuring costs. Excluding the impact of the special items, adjusted earnings per share was $0.18 and of course, that does include the effect of purchase price amortization, which on an after-tax basis, approximately $0.11 per share.
Sealed Air's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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