Forward-looking statements are statements of risks and uncertainties that could cause our results to differ materially or cause a material adverse effect on our results. Please refer to the risk factors discussed in our SEC filings and the press release. We do not undertake to update in light of new information or future events. In addition, reference will be made to non-GAAP financial measures. Information regarding the reconciliation of the non-GAAP and GAAP measures can be found in the press release that was issued this afternoon on our website on the IR section at

I’ll now turn the call over Guy Gecht. Guy?

Guy Gecht

Thank you, JoAnn, good afternoon everyone and thank you for joining us on short notice. As you saw from our press release earlier today, we have two very exciting topics to discuss. First, we announced the acquisition of Cretaprint, a leading provider of inkjet printers for ceramic tiles. This transaction [extends our time] and further accelerates the growth of our inkjet segment, which was key factor in our record Q4 results. Our second piece of great news today.

We're very pleased to have achieved record revenues for the fourth quarter of 2011, with revenues of approximately $163 million. We expect non-GAAP earnings per share to be in the range of $0.34 to $0.35. Now this includes approximately $0.03 of negative non-operational FX impact. These solid results reflect the increasing importance of our direct sales businesses as we achieved record revenues in both the inkjet and APPS segments in Q4. Our direct business now represents close to 60% of total company revenues.

Changing the mix toward our APPS and inkjet segments where we typically sell directly to customers and enjoy growing recording revenue stream is that cornerstone in our strategy and particularly important in light of the uncertain economic environment, as we have greater control in successfully marketing, selling and supporting customers around the world. Obviously, we will have much more detail on our fourth quarter results and our outlook for the Q1 2012 on our regular [earning] call, scheduled for January 24.

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