FirstService Corporation (FSRV) Q2 2010 Earnings Call Transcript July 28, 2010 11:00 am ET Executives Jay Hennick – Founder and CEO John Friedrichsen – SVP and CFO Scott Patterson – President and COO Analysts Sara O'Brien – RBC Capital Markets Stephanie Price – CIBC David Gold – Sidoti Frederic Bastien – Raymond James Brandon Dobell – William Blair PresentationOperator
Welcome to FirstService Corporation's second quarter earnings 2010 conference call. Today's call is being recorded. Legal counsel requires us to advise that the discussion scheduled to take place today may contain forward-looking statements that involve risks and uncertainties. Actual results may be materially different from those contained in these forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the Form 10-K and in the company's other filings with the Canada and US securities commission. As a reminder, today's conference is being recorded. Today is Wednesday, July 28, 2010. At this time, for opening remarks and introductions, I would like to turn the call over to the founder and chief executive officer, Mr. Jay Hennick. Please go ahead, sir. Jay Hennick Thank you, and good morning, everybody. As the operator said, I'm Jay Hennick, chief executive officer of the company. With me today is Scott Patterson, president and chief operating officer; and; John Friedrichsen, senior vice president and chief financial officer. This morning, FirstService reported solid second quarter results. Our revenues were up 18%, EBITDA was 8%, and adjusted earnings per share were up 4%. Year-to-date, revenues were up 15%, EBITDA up 21%, and adjusted earnings per share up 15%. John will provide full details in his financial review in just a few minutes.