Kimberly-Clark (KMB)

Q4 2010 Earnings Call

January 25, 2011 10:00 am ET


Thomas Falk - Executive Chairman, Chief Executive Officer, President and Member of Executive Committee

Mark Buthman - Chief Financial Officer and Senior Vice President

Paul Alexander - Director of Investor Relations


Constance Maneaty - BMO Capital Markets U.S.

Lauren Lieberman - Barclays Capital

Alice Longley - Buckingham Research Group, Inc.

John Faucher - JP Morgan Chase & Co

Ali Dibadj - Bernstein Research

Jason Gere - RBC Capital Markets, LLC

William Schmitz - Deutsche Bank AG

Wendy Nicholson - Citigroup Inc

Andrew Sawyer - Goldman Sachs Group Inc.

Linda Weiser - Caris & Company

Chip Dillon - Crédit Suisse AG

John San Marco - Janney Montgomery Scott LLC

Gail Glazerman - UBS Investment Bank

Christopher Ferrara - BofA Merrill Lynch



Ladies and gentlemen, thank you for your patience in holding. We now have your speakers in conference. [Operator Instructions] It is now my pleasure to introduce Mr. Paul Alexander. Mr. Alexander, you may begin, sir.

Paul Alexander

Thanks, David, and good morning, everyone. Welcome to Kimberly-Clark's year end earnings conference call. Here in Dallas is : Tom Falk, Chairman and CEO; Mark Buthman, Senior VP and CFO; and Mike Azbell, Vice President and Controller.

Here's the agenda for the call today. Mark will begin with a review of our fourth quarter results, followed by an overview of the additional actions we announced this morning. Tom will then provide his perspective on our results and discuss the 2010 outlook, and we'll finish with Q&A. For those wishing to follow along, we do have a presentation of today's materials in the Investors section of our website, which is

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