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June 18, 2012 5:00 p.m. ET
Jerre Stead- Chairman and CEO
Scott Key - President and COO
Richard Walker - EVP and CFO
Andy Schulz - IR
Eric Boyer - Wells Fargo
Brian Karimzad - Goldman Sachs
Bill Warmington - Raymond James
Toni - Morgan Stanley
Kelly Flynn - Credit Suisse
Bill Sutherland - Northland Capital Markets
Andrew Steinerman - JP Morgan
Manav Patnaik - Barclays Capital
Good day ladies and gentlemen, and welcome to the second quarter 2012 IHS Incorporated earnings conference call. [Operator instructions.] I would now like to turn the conference over to your host for today, Mr. Andy Schulz, vice president of investor relations. And you have the floor sir.
Thank you operator. Good afternoon and thank you for joining us for the IHS second quarter 2012 earnings conference call. We issued two news releases earlier this afternoon. In addition to announcing our second quarter earnings, we announced a secondary offering. If you do not have the releases we issued earlier today, you will find copies of them on our website at IHS.com.
Some of our comments and discussions on the quarter are based on non-GAAP measures. Our non-GAAP or adjusted numbers exclude stock-based compensation and other non-cash charges and other items. Our earnings release includes both our GAAP-based income statement and statement of cash flows and reconciliations to the non-GAAP measures discussed during this call. These reconciliation schedules can also be found on our website.
The non-GAAP results are a supplement to the GAAP financial statements. IHS believes this non-GAAP presentation and the elimination of these items is useful in order to focus on what we deem to be a more reliable indicator of ongoing operating performance.