Liberty Interactive Corporation ( LINTA) Q4 2011 Earnings Conference Call February 23, 2012 11:00 am ET Executives Courtnee Ulrich – Vice President, Investor Relations Gregory B. Maffei – President and Chief Executive Officer Christopher W. Shean – Senior Vice President and Chief Financial Officer Mike George – QVC, President and Chief Executive Officer Analysts David Gober – Morgan Stanley Barton Crockett – Lazard Capital Markets Ben Mogil – Stifel Nicolaus Thomas Forte – Telsey Advisory Group LLC Matthew Harrigan – Wunderlich Securities Jason Bazinet – Citigroup PresentationOperator
Ladies and gentlemen, good day and welcome to the Liberty Interactive Corporation Quarterly Earnings Conference Call. Today's call is being recorded. At this time I would like to turn the presentation over to Courtnee Ulrich, Vice President of Investor Relations to read the forward-looking statements. Courtnee Ulrich Good morning. Before we begin we would like to remind everyone that this call includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about financial guidance, business strategies, and market potential, future financial performance, new service and product launches, and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitations, possible changes in market acceptance of new products or services, competitive issues, regulatory issues and continued access to capital on terms acceptable to Liberty Interactive. These forward-looking statements speak only as of the date of this call and Liberty Interactive expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in Liberty Interactive's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. On today’s call we will discuss certain non-GAAP financial measures including adjusted OIBDA. The required definitions and reconciliations, preliminary notes and schedules one through three can be found at the end of this presentation.