Brunswick Corporation ( BC) Q4 2010 Earnings Call January 27, 2011 11:00 am ET Executives Bruce Byots - VP, Investor and Corporate Relations Dusty McCoy - Chairman and CEO Peter Hamilton - SVP and CFO Analysts Ed Aaron - RBC Capital Market James Hardiman - Longbow Research Richard Whiting - Broadview Advisors Joe Hovorka - Raymond James John Harloe - Barrow Hanley Laura Starr - Nuveen Asset Management PresentationOperator
Good morning and welcome to the Brunswick Corporation 2010 Fourth Quarter Earnings Conference Call. All participants will be in a listen-only mode, until the question-and-answer period. Today's meeting will be recorded, if you have any objections you may disconnect at this time. I would now like to introduce Bruce Byots, Vice President of Corporate and Investor Relations. Please proceed. Bruce Byots Good morning and thank you for joining us. On the call this morning is Dusty McCoy, Brunswick's Chairman and CEO and Peter Hamilton, our CFO. Before we begin with our prepared remarks, I'd like to remind everyone that during this call, our comments will include certain forward-looking statements about future results. Please keep in my mind that our actual results will differ materially from these expectations. For the details on the factors to consider, please refer to our recent SEC filings and today's press release. All of these documents are available on our website at brunswick.com. I would now like to turn the call over to Dusty McCoy Dusty McCoy Thanks, Bruce and good morning, everyone. By now I hope everyone has had the opportunity to review our fourth quarter earnings release. 2010 was an important transitional year for us. We continue to make significant strides in rationalizing our manufacturing footprint and executing against strategies that allowed us to operate our businesses more efficiently. These actions enabled us to demonstrate strong levels of operating earnings leverage in 2010 putting us in an excellent position to return to profitability in 2011.