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June 28, 2012 5:00 p.m. ET
Derek Hatch – Corporate Controller
Robert A. Whitman – President & CEO
Stephen Young - CFO
M. Sean Merrill Covey - EVP
Shawn Moon - EVP
Joe Janssen - Barrington Research
Gunnar Hansen - Sidoti & Company
Marco Rodriguez - Stonegate Securities
Julian Allen - Spitfire Capital
Good day, ladies and gentlemen, and welcome to the third quarter 2012 Franklin Covey earnings conference call. [Operator instructions.] I would now like to turn the presentation over to your host for today, Mr. Derek Hatch. Please proceed sir.
Thank you. Good afternoon everyone, and welcome to our conference call this afternoon to discuss the third quarter financial results. Before we get started this afternoon, I’d like to remind everybody that this presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based upon management’s current expectations and are subject to various risks and uncertainties including, but not limited to, the ability of the company to stabilize and grow revenues; the ability of the company to hire productive sales professionals; general economic conditions; competition in the company’s targeted marketplace; market acceptance of new products or services and marketing strategies; changes in the company’s market share; changes in the size of the overall market for the company’s products; changes in the training and spending policies of the company’s clients; and other factors identified and discussed in the company’s most recent annual report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission.