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Welcome to the PokerTek Second Quarter Earnings Conference Call. My name is Sandra and I will be your operator for today’s call. At this time all participants are in a listen-only mode. Later we will conduct a question and answer session. Please note that this conference is being recorded.
I will now turn the call over to Mr. Mark Roberson, Chief Executive Officer. Mr. Roberson, you may begin.
Mark Daniel Roberson
Thank you and good morning. Before we get started, I would like to remind you that we will make forward-looking statements on today’s call. Actual results may differ and we undertake no obligation to update those statements.
Our discussion will also include non-GAAP financial measures, specifically earnings before interest, taxes, depreciation, amortization and share-based compensation. For additional information and a reconciliation of EBITDA we ask that you refer to our earnings release that’s filed on Form 8-K today and to other SEC filings which can be accessed from our corporate website, www.pokertek.com.
As reported this morning, our bottom line financial results for the first half and for the second quarter continue to improve as compared to the prior year period. Those improvements were driven primarily by our focus on reducing costs and improving operational efficiency.
What is less readily apparent from the reported financial results is the momentum we are seeing in the impact that new gaining positions will have on recurring revenue growth and financial performance in the second half of the year.