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July 24, 2012 5 p.m. ET
David Erickson – Vice President, Investor-Relations
Michael Mussallem – Chief Executive Officer
Thomas Abate – Chief Financial Officer
Jason Mills – Canaccord Genuity
Larry Biegelsen – Wells Fargo
Kristen Stewart – Deutsche Bank
Amit Bhalla – Citigroup
Michael Weinstein – JP Morgan
Bruce Nudell – Credit Suisse
Glenn Novarro – RBC Capital Markets
David Roman – Goldman Sachs
Tom Gunderson – Piper Jaffray
Raj Denhoy – Jefferies & Co
David Lewis – Morgan Stanley
Bob Hopkins – Bank of America
Spencer Nam – ThinkEquity
Greetings and welcome to the Edwards Lifesciences Corporation Second Quarter 2012 Earnings Conference Call. (Operator Instructions) As a reminder this conference is being recorded.
It is now my pleasure to introduce your host, David Erickson, Vice President and Investor Relations. Thank you, Mr. Erickson, you may begin.
Welcome and thank you for joining us today. Just after the close of regular trading we released our second quarter 2012 financial results. During today’s call we’ll discuss the results included in the press release and the accompanying financial schedules and then use remaining time for Q&A.
Our presenters on today’s call are Mike Mussallem, Chairman and CEO and Tom Abate, CFO.
Before I turn the call over to Mike, I’d like to remind you that during today’s call we will be making forward-looking statements that are based on estimates, assumptions, and projections. These statements include, but aren’t limited to, our expectations regarding sales and sales growth, gross profit margin, net income growth, earnings per share, SG&A, R&D, taxes, free cash flow, diluted share outstanding and foreign currency impacts. These statements also include our current expectations for the timing, status and expected outcomes of our clinical trials, regulatory submissions and approvals and new product introductions as well as expectations regarding market growth and potential impacts of supply interruptions, economic conditions and competitive products.