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Forest City Enterprises, Inc. (FCE.A)
Q1 2012 Earnings Conference Call
June 8, 2012 11:00 AM ET
David J. LaRue – President and Chief Executive Officer
Robert G. O'Brien – Chief Financial Officer
Matthew L. Messinger – Executive Vice President of Investment Management – New York
Sheila McGrath – KBW
Paul Adornato - BMO Capital Markets
Wes Golladay - RBC Capital Markets
Welcome to the Forest City Enterprises’ first quarter 2012 earnings conference call. The Company would like to remind you that today's remarks include forward-looking comments that are covered under the Federal Safe Harbor provision. Actual results could differ materially from those expressed or implied in such forward-looking statements due to the various risks, uncertainties and other factors.
Please refer to the risk factors outlined in Forest City’s annual and quarterly reports filed with the SEC for discussion of factors that could cause results to differ. This call is being recorded and a replay will be available until 2.00 pm Eastern Time today, both the telephone replay and the webcast will be available until July 07, 2012, at 11.59 pm Eastern Time.
The company would like to remind listeners that it will be using non-GAAP terminology, such as FFO, EBDT, comparable property net operation income or comp NOI and prorate share in its discussion today. Please refer to the company's supplemental package for an explanation of these terms and why the company uses them, as well as reconciliations to their comparable financial measures in accordance with General Accepted Accounting Principles.