Jefferies Group (JEF) Q1 2012 Earnings Call March 20, 2012 9:00 am ET Executives Richard B. Handler - Executive Chairman, Chief Executive Officer, President, Member of Risk Management Committee and Director of Jefferies
Peregrine C. de M. Broadbent - Chief Financial Officer, Principal Accounting Officer, Executive Vice President and Member of Risk Management Committee Brian Paul Friedman - Director, Chairman of Executive Committee, Member of Risk Management Committee and President of Jefferies Capital Partners Analysts Patrick J. O'Shaughnessy - Raymond James & Associates, Inc., Research Division M. Patrick Davitt - BofA Merrill Lynch, Research Division Joel Jeffrey - Keefe, Bruyette, & Woods, Inc., Research Division David M. Trone - JMP Securities LLC, Research Division Christoph M. Kotowski - Oppenheimer & Co. Inc., Research Division Jeffrey Harte - Sandler O'Neill + Partners, L.P., Research Division Vera Allain Meredith Ann Whitney - Meredith Whitney Advisory Group LLC Unknown Analyst PresentationOperator Welcome to the Jefferies 2012 First Quarter Financial Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. A press release containing Jefferies' 2012 fiscal first quarter financial results was distributed via Business Wire earlier this morning and can be accessed at jefferies.com. Some of the comments made in this conference call may include forward-looking statements. These forward-looking statements may contain statements about management's current assumptions, expectations, strategic objectives, growth opportunities, business and prospects. These forward-looking statements are not statements of historical fact and represent only Jefferies' belief as to future performance. They usually include the words continue, will, believe, should, estimate or other similar expressions. Actual results could differ materially from those projected in these forward-looking statements. Please refer to Jefferies' Annual Report on Form 10-K filed with the Securities and Exchange Commission on January 27, 2012, and Jefferies' Form 8-Ks for discussions of important factors that could cause actual results to differ materially from those projected in these forward-looking statements.