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Liberty Interactive's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Liberty Interactive Corporation (LINTA)

Q1 2012 Earnings Call

May 8, 2012, 11:00 a.m. ET


Courtnee Ulrich – VP, IR

Gregory B. Maffei – President, CEO

Christopher W. Shean – SVP, CFO

Mike George – QVC, President, CEO


David Gober – Morgan Stanley

Barton Crockett – Lazard Capital Markets

Ben Mogil – Stifel Nicolaus

Thomas Forte – Telsey Advisory Group LLC

Matthew Harrigan – Wunderlich Securities

Jason Bazinet – Citi

Jessica Reif Cohen – BofA/Merrill Lynch

Martin Pyykkonen – Janco Partners



Good day everyone, and welcome to the Liberty Interactive Corporation quarterly conference call. At this time for opening remarks and introductions, I would like to turn the call over to the Vice President of Investor Relations, Courtney Ulrich. Please go ahead.

Courtney Ulrich

Good morning. Before we begin, we’d like to remind everyone that this call includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about financial guidance, business strategies, market potential, future financial performance, new service and produce launches and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, possible changes in market acceptance of new products and services, competitive issues, regulatory issues and continued access to capital in terms acceptable to Liberty Interactive. These forward-looking statements speak only as of the date of this call, and Liberty Interactive expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein, to reflect any change in Liberty Interactive’s expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement is based. On today’s call, we will discuss certain non-GAAP financial measures, including adjusted OIBDA. The required definitions and reconciliations, preliminary notes, and schedules one through three can be found at the end of this presentation. And with that, I’ll turn it over to Greg Maffei, Liberty Interactive’s President and CEO.

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