On our call today, we will provide you details of our fourth quarter ended May 31, 2011. Some highlights for the full fiscal year and understanding of the impact of the Bondex Specialty Products [bold code] Chapter 11 filing and our financial statements. In our outlook to the RPM 2011 fiscal year, afterwards we will be happy to answer your questions.Please note that we would like to split our Q&A session today into two parts. The first being questions about our fourth quarter and 2011 full-year results and we finished answering those questions, and then we'll move to answering questions about the Bondex SPHC filing impact and FY'2011 and our outlook. In the fourth quarter, we experienced strong quarter return to growth in our industrial businesses particularly in flooring corrosion control, maintenance and industrial OEM coatings, and roofing and waterproof grouping products. Our consumer businesses continued to show good growth, resale of maintenance, repair and small project redecorating products. New product introduction like Rust-Oleum Kitchen and Bath Countertop refinishing kits and market share gains especially in the DIY automotive channels. From the raw material perspective, we are having the same cost and availability issues negatively in effect of the entire industry. Having said they act the better overall product mix of sales from higher market product lines versus last year, and the diversity of RPM's businesses product lines and end markets versus some of the larger product area concentrations, some of our major competitors as so far a lot RPM to perform relatively better in what is it continues to be a very challenging raw material environment. Lastly as Bob Matejka will note will note in his comments, SG&A spending was up considerably in the quarter to support continuing growth and relates to higher compensation levels particularly compared to last year were discretionary spending was been aggressively cut and where compensation across many categories was substantially lower.
These SG&A comments relates to RPM across all of our businesses. The impact of higher spending on growth initiatives is especially noted for one of our Consumer segment as we deliberately ramped up advertising and promotion to support our continuing growth.With strong return to growth across almost all RPM's businesses we were very pleased with our fourth quarter performance. I would now like to turn the call over to Bob Matejka to provide some financial statement details on our fourth quarter and year end after which we will open up the call for questions. Bob Matejka Thanks Frank and good morning everyone. Thanks for joining us on today’s call. I will review the fourth quarter in detail as Frank said, touch up on a few year-to-date measures and then I will turn it back to Frank for closing comments before we take your questions. All comments that follow exclude the one time non-cash cost to deconsolidation of SPHC of $7.9 million during our fourth quarter this fiscal year and the non-cash impairment charges of 15.5 million during the fourth quarter of fiscal 2009. For the fourth quarter, consolidated net sales increased 13.3% quarter-over-quarter to 791.5 million. This increase was compromised with 2.5% favorable foreign exchange grew to 2.1% from acquisitions in 9% from share unit volume. In the Industrial segment, net sales of 633 million accounting for about 65% of total sales increased 12.9% over last years fourth quarter. Foreign exchange in industrial contributed 3%, acquisitions contributed 2.7% and volume was up 7.1%. On the consumer side, sales were 338.5 million, an improvement of 14% quarter-over-quarter. Foreign exchange and consumer contributed 1.5%, acquisitions were just under 1% and volume was up 12.5 and this volume was partially offset by pricing pressure of approximately 0.8%. Read the rest of this transcript for free on seekingalpha.com