ADTRAN Inc. (ADTN) Q2 2010 Earnings Call July 14, 2010 10:30 am ET Executives Thomas Stanton - CEO and Chairman of the Board Jim Matthews - SVP of Finance and CFO, Treasurer, Secretary and Director Analysts Todd Koffman - Raymond James Jim Suva - Citi Nikos Theodosopoulos - UBS Steve Ferranti - Stevens Inc. Sanjiv Wadhwani - Stifel Nicolaus Amir Rozwadowski - Barclays Capital Rich Valera - Needham & Company Erin Riley - Goldman Sachs Ari Bensinger - Standard & Poor’s Ehud Gelblum - Morgan Stanley Simon Leopold - Morgan Keegan Cobb Sadler - Catamount Advisors Michael Genovese - Soleil Securities Paul Silverstein - Credit Suisse Presentation Operator
Good morning, my name is Bonnie and I will be your conference operator today. At this time, I would like to welcome everyone to the ADTRAN second quarter earnings release conference call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. (Operator Instructions). During the course of the conference call, ADTRAN representatives expect to make forward-looking statements which reflect management’s best judgment based on factors currently known. However, these statements involve risks and uncertainties including the successful development and market acceptance of new products, the degree of competition in the market for such products, the product and channel mix, component cost, manufacturing efficiencies and other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2009; and Form 10-Q for the quarter ended March 31, 2010. These risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements which may be made during the call. Thank you. Mr. Stanton, you may begin your conference.