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IDEX's CEO Discusses Q2 2012 Results - Earnings Call Transcript

The format for our call today is as follows, we will begin with our mid-year assessment and our perspective on the business. Next, we will discuss the second quarter 2012 results, followed by a walk-through of our three business segments. Finally, we will wrap-up with an outlook for the reminder of 2012 and following our prepared remarks, we’ll open the call for your questions.

If you should need to exit the call for any reason, you may access a complete replay beginning approximately two hours after the call concludes. By dialing the toll-free number 855-859-2056 and entering the conference ID 40917655 or you may simply log on to our company’s homepage for the webcast replay.

As we begin, a brief reminder. This call may contain certain forward-looking statements that are subject to the Safe Harbor language in today’s press release and in IDEX’s filings with the Securities and Exchange Commission.

With that, I’ll now turn this call over to our Chairman and CEO, Andy Silvernail. Andy?

Andy Silvernail

Thanks Mike. I’m now on slide five everyone. Last night we issued our second quarter results. We outlined Q2 records in orders, sales and cash flow, and we returned $43 million to shareholders in dividends and share repurchases.

However, we missed our earnings expectations and we see the balance of the year as more challenging than we did in Q1. It is our goal to consistently deliver superior earnings and cash flow growth in both good and difficult times.

Our strategy and our operating model are proven, which is reflected in our strong cash flow performance and margin expansion in Q2.

Before we get into the details of the quarter, I’m going to talk big picture, the recent global trends, the successes we’ve had and some of the specific challenges we faced in the first half.

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