Lorillard Inc. (LO) Q2 2010 Earnings Call July 26, 2010 10:00 a.m. ET Executives Bob Bannon – Director, IR Martin Orlowsky – Chairman, President and CEO David Taylor – EVP, Finance & Planning and CFO Analysts Judy Hong – Goldman Sachs David Adelman – Morgan Stanley Nik Modi – UBS Andrew Kieley – Deutsche Bank Christine Farkas – Banc of America Merrill Lynch Thilo Wrede – Credit Suisse Anna Shtromberg - National Australia Bank PresentationOperator
Good day ladies and gentlemen and welcome to the second quarter 2010 Lorillard Inc. earnings conference call. (Operator instructions.) I would now like to turn the conference over to your host for today, Mr. Bob Bannon. Please proceed. Bob Bannon Thank you Madge and good morning everyone. I’m Bob Bannon Lorillard’s director of Investor Relations and joining me on today’s call is Marty Orlowsky, Lorillard’s Chairman, President and Chief Executive Officer and David Taylor, its Chief Financial Officer. By now you should have received a copy of our second quarter 2010 earnings release. It can be found on the company’s website, Lorillard.com, under News Releases. But, before we begin I would like to remind you that some of the comments on today’s call and some of the responses to your questions may contain forward-looking statements. These statements are subject to the risks and uncertainties as described in the company’s earnings release and in other filings with the SEC. I would now like to turn the call over to Marty Orlowsky. Martin Orlowsky Thanks Bob. Good morning everyone. We’re pleased with the company’s performance for both the second quarter and the first six months of 2010. Lorillard and the Newport brand achieved record wholesale and retail shipment market share, and the company’s domestic wholesale unit volume performance outperformed the industry when comparing 2010 with 2009 for the second quarter and the first 6 months of the year.