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July 24, 2012 10:00 am ET
Joseph D. Rupp - Chairman, Chief Executive Officer, President and Chairman of Executive Committee
John E. Fischer - Chief Financial Officer and Senior Vice President
Maggie Cheung - Wells Fargo Securities, LLC, Research Division
Edward H. Yang - Oppenheimer & Co. Inc., Research Division
Christopher W. Butler - Sidoti & Company, LLC
Herbert Hardt - Monness, Crespi, Hardt & Co., Inc., Research Division
Bobby Geornas - Susquehanna Financial Group, LLLP, Research Division
Aleksey V. Yefremov - BofA Merrill Lynch, Research Division
Dmitry Silversteyn - Longbow Research LLC
Good morning, and welcome to Olin's Second Quarter 2012 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Joseph Rupp, Chairman, President and CEO. Please go ahead.
Joseph D. Rupp
Good morning, and thanks for joining us today. With me this morning are John Fischer, our Senior Vice President, Chief Financial Officer; John McIntosh, our Senior Vice President of Operations; and Larry Kromidas, our Assistant Treasurer and Director of Investor Relations.
Last night, we announced that net income in the second quarter of 2012 was $47.6 million or $0.59 per diluted share, which compares to $42.1 million or $0.52 per diluted share in the second quarter of 2011. Second quarter 2012 net income included a $1.8 million pretax restructuring charge, primarily associated with the ongoing Winchester centerfire relocation project, and second quarter 2011 net income included a $2.4 million pretax restructuring charge associated with the Winchester centerfire relocation project and the Chlor Alkali mercury cell technology conversion projects.