Starbucks (SBUX) Q1 2011 Earnings Call January 26, 2011 5:00 pm ET Executives Clifford Burrows - President of Starbucks Coffee US Howard Schultz - Founder, Chairman, Chief Executive Officer and President Troy Alstead - Chief Financial Officer of Starbucks Coffee Company and Chief Administrative Officer of Starbucks Coffee Company Jeff Hansberry - JoAnn DeGrande - Director of Investor Relations John Culver - President of Starbucks Coffee International Analysts Keith Siegner - Crédit Suisse AG Sharon Zackfia - William Blair & Company L.L.C. Matthew DiFrisco - Oppenheimer & Co. Inc. Michael Kelter - Goldman Sachs Group Inc. John Glass - Morgan Stanley Phillip Juhan - BMO Capital Markets U.S. Sara Senatore - Bernstein Research John Ivankoe - JP Morgan Chase & Co Jeffrey Bernstein - Barclays Capital David Palmer - UBS Investment Bank PresentationOperator
Good afternoon. My name is Steve, and I will be your conference operator today. At this time, I would like to welcome everyone to Starbucks Coffee Company's First Quarter 2011 Earnings Call. [Operator Instructions] Ms. DeGrande, you may begin your conference. JoAnn DeGrande Thank you, Steve. Good afternoon, ladies and gentlemen. This is JoAnn DeGrande, Director of Investor Relations at Starbucks Coffee Company. Joining me on the call today are Howard Schultz, Chairman, President and CEO; John Culver, President of our International business; and Troy Alstead, CFO. Before we get started, I'd like to remind you that this conference call will contain forward-looking statements. Forward-looking statements are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements and should be considered in conjunction with our cautionary statements in our earnings release and the risk factors discussions in our filings with the SEC, including our last annual report on Form 10-K. Starbucks assumes no obligation to update any of these forward-looking statements or information. Please refer to the Investor Relations section of Starbucks' website at starbucks.com and the financial statements accompanying the earnings release, where you'll find disclosures and reconciliations of non-GAAP financial measures mentioned on today's call along with their corresponding GAAP measure. You note that the non-GAAP amounts reported relate only to prior fiscal 2010 amounts for costs related to the now-completed restructuring work.