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Polypore International's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Before we begin today, I'd like to remind you of some important considerations. This conference call and webcast might contain forward-looking statements within the meaning of federal securities laws. We intend these forward-looking statements to be covered by the Safe Harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and assumptions made by management about Polypore and the industry and environment in which we operate.

These forward-looking statements are not guarantees of future performance and may differ materially from actual events or results because they involve estimates, assumptions and uncertainties. You're cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made, which is Tuesday, July 31, 2012. Polypore undertakes no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. You're also directed to consider the risks, uncertainties and other factors discussed in documents filed by us with the SEC, including those matters summarized under the captions Item 1A Risk Factors in our most recent 10-K filing with the SEC.

Today I'm joined by Bob Toth, President and Chief Executive Officer; Lynn Amos, Chief Financial Officer; and Rob Whitsett, Vice President of Finance. And also here with us today, we like to welcome to the team, Paul Clegg, Polypore’s Director of Investor Relations. At this point, I'll turn the call over to Bob for his opening remarks.

Bob Toth

Thank you, Kathy. Welcome everyone. As we described earlier this year, we experienced sequential revenue improvement across all of our businesses in the second quarter. Having said that, we're not satisfied with our current level of performance. While the good news is that we have new capacity, we're experiencing the incremental costs associated with that without yet having the meaningful sales to provide operating leverage.

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