Sallie Mae Corporation (SLM) Q2 2010 Earnings Call July 21, 2010 8:00 a.m. ET Executives Albert Lord – Vice Chairman and Chief Executive Officer John Remondi – Vice Chairman and Chief Financial Officer Steven McGarry - Senior Vice President of Investor Relations Analysts Michael Taiano - Sandler O’Neill Lee Cooperman - Omega Advisors Sameer Gokhale - KBW [Matt Mowing] – SBR David Glick - Buckingham Research Ed Groshans - Height Moshe Orenbuch - Credit Suisse Eric Beardsley - Barclays Capital Michael O’Dell - AIG Asset Management PresentationOperator
Good morning. My name is Cynthia and I’ll be your conference operator today. At this time I would like to welcome everyone to the Sallie Mae Q2 Fiscal 2010 Earnings conference call. (Operator Instructions). I would now like to turn today’s call over to Steve McGarry, Senior Vice President of Investor relations. Pleas go ahead, sir. Steven McGarry Thank you, Cynthia. Good morning everybody and welcome to Sallie Mae’s 2010 Q2 earnings call. With me today on the call are Al Lord, our CEO, and Jack Remondi, our CFO. After their prepared remarks we will open up the call for questions. Before we begin now keep in mind that our discussion will contain predictions, expectations and forward looking statements. Actual results in the future may be materially different from those discussed here. This could be due to a variety of factors, and listeners should refer to the discussion of those factors on the company’s Form 10K and other filings with the SEC. During this call we will refer to non-GAAP measures that we call our “core earnings.” A description of core earnings, a full reconciliation to GAAP measures and our GAAP results can be found in the Q2 2010 Supplemental Earnings Disclosure. This is posted along with the earnings press release on the investor’s page at salliemae.com.