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Hi, this is Bill Chapman, Senior Director of Investor Relations for Grainger. Thank you for accessing this recorded message with information regarding Grainger’s May 2012 sales results. I’ll begin by reminding you that certain statements and projections of future results made in this webcast constitute forward-looking information. This information is based on current expectations of market conditions and competitive and regulatory environments and involves risk and uncertainty. Please see our 2011 Form 10-K for a discussion of factors as they relate to forward-looking statements.
Let’s now take a look at our sales results for May 2012, which had 22 selling days, one more than May 2011. Total company daily sales increased 13% versus May 2011. These results include a 5 percentage point contribution from acquisitions and a 1 percentage point drag from foreign exchange. Organic daily sales increased 9%, including 6 percentage points from volume and 3 percentage points from price.
Now let’s turn our attention to sales results by segment. As a reminder, monthly sales history by reporting segment for the prior two years is available on the Investor Relations website along with a summary of selling days by month and by business. Please note that although some of our businesses have a different number of selling days due to local holidays, we use the number of selling days in the United States as the basis for our calculation of daily sales.