US Physical Therapy Inc. Q2 2010 Earnings Call Transcript

US Physical Therapy Inc. (USPH)

Q2 2010 Earnings Call

August 05, 2010 10:00 am ET

Executives

Jon Bates - VP, Controller

Chris Reading - CEO

Larry McAfee - CFO

Analysts

Larry Solow - CJS Securities

Alex Gait - Castle Peak Asset Management

Mitra Ramgopal - Sidoti & Company

Brian Tanquilut - Jefferies & Company

Presentation

Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Second Quarter 2010 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions). Thank you.

I would now like to turn the conference over to Mr. Chris Reading, President and CEO. Sir, you may begin your conference.

Chris Reading

Thank you very much. Good morning everyone before we start today I would just let you know who is with me in Houston Larry McAfee, our Executive Vice President, Chief Financial Officer; Jon Bates, our Vice President and Controller. Absent today is going Glenn McDowell, our Chief Operating Officer. Glenn is on a very deserved vacation. Somewhere outside to reach of cell phones and so what happened he had chance to take some deserved time off and he will be back next week. Any questions normally for Glenn we will prepare to cover here as well.

Before we start I would like to ask Jon to read a brief disclosure statement and then we will begin.

Jon Bates

Thanks, Chris. This presentation contains forward-looking statements, which involve certain risks and uncertainties. And these forward-looking statements are based on the company’s current views and assumptions and the company’s actual results can vary materially from those anticipated. Please see the company’s filings with the Securities and Exchange Commission for more information.

Chris Reading

Thanks, Jon. For those of you who that are normally on our call, I’m going to handle the call a little bit differently today than normal and go out straight and just talk to you for a little bit today. Then I will ask Glenn to cover the permanent financial details, really want to try to talk and explain what we are as a company, what we are doing and why we are able to achieve some of the results that we have able to achieve this quarter in this year.