Lennar Corporation (LEN) F4Q2010 Earnings Conference Call January 11, 2011 11:00 a.m. ET Executives David Collins – Controller Stuart Miller – President and CEO Bruce Gross – VP and CFO Rick Beckwitt – EVP Jon Jaffe – Chief Operating Officer Jeff Krasnoff –Chief Executive Officer, Rialto Analysts Ivy Zelman - Zelman & Associates Jonathan Ellis – Merrill Lynch Michael Rehaut – JP Morgan/Chase Carl Reichardt – Wells Fargo Securities David Goldberg – UBS Josh Levin – Citigroup Stephen East – Ticonderoga Securities Jade Rahmani – KBW Daniel Oppenheim – Credit Suisse PresentationOperator
Thank you for standing by and welcome to Lennar's fourth quarter and year-end earnings conference call. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question-and-answer session. Today's conference is being recorded. If you have any objections, you may disconnect at this time. I will now turn the call over to Mr. David Collins for the reading of the forward-looking statement. David Collins Today's conference call may include forward-looking statements that are subject to risks and uncertainties relating to Lennar's future business and financial performance. These forward-looking statements may include statements regarding Lennar's business, financial condition, results of operations, cash flows, strategies, and prospects. Forward-looking statements represent only Lennar's estimates on the date of this conference call and are not intended to give any assurance as to actual future results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Many factors could cause Lennar's actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described under the caption Risk Factors contained in Lennar's annual report on Form 10-K most recently filed with the SEC. Please note that Lennar assumes no obligation to update any forward-looking statements.