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Digital Realty Trust's CEO Discusses Q2 2012 Results - Earnings Call Transcript

For a further discussion of the risks and uncertainties related to our business, see the company’s Annual Report on Form 10-K for the year ended December 31, 2011 and subsequent filings with the SEC, including the company’s quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Additionally, this call will contain non-GAAP financial information, including funds from operations or FFO, adjusted funds from operations or AFFO, core funds from operations, earnings before interest, taxes, depreciation and amortization, or EBITDA, adjusted EBITDA, same-store net operating income or NOI and same-store cash NOI.

Digital Realty is providing this as supplement information prepared in accordance with generally accepted accounting principles. Explanation of such non-GAAP items and reconciliations to net income are contained in the company’s supplemental operating and financial data package for the second quarter of 2012 furnished to the SEC, and this information is available on the company’s website at

Now, I’d like to introduce Michael Foust, CEO; and Bill Stein, CFO and Chief Investment Officer. Following management’s remarks, we will open the call to your questions. Questions will be limited to one per caller. If you have additional questions, feel free to return to the queue. If we’re unable to take all of your questions on the call, we’ll be happy to discuss them with you offline.

I will now turn the call over to Mike.

Michael Foust – Chief Executive Officer

Great. Thank you, Pamela, and welcome to the call, everyone. In response to last week’s leasing results press release, our primary goal today is clear up any uncertainty around the state of our industry and our business. After my brief introduction, Bill will discuss our 2012 guidance, second quarter finance results, and recent capital market activities. Following his remarks, I’ll provide an overview of our operations as well as an update on our activity in major markets before opening the call for your questions.

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