During this call, we will be making forward-looking statements, including those regarding the anticipated outlook for our business, our currently expected third quarter of fiscal 2012 net revenue and earnings results, our long-term outlook for our company and improvements in our operational efficiencies and financial performance. These statements are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially.An extensive list of these risks and uncertainties are identified in our annual report on Form 10-K for the fiscal year ended August 31, 2012 and subsequent reports on Form 10-Q and Form 8-K in our other securities filings. Jabil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. And I just realized I must have misspoken, August 31, 2011, not 2012. As we indicated last quarter, we have begun to highlight GAAP operating results. While, we currently are still reporting and publishing core results, it is also our intention to move fully to GAAP beginning in fiscal 2013. In addition, we will also be providing guidance on long term year-over-year outlook. This change to our guidance aligns more closely with how we run the business making strategic long-term decisions. We believe providing guidance in this fashion gives investors the most appropriate view into our business. Today's call will begin with our second quarter results highlights and comments from Forbes Alexander as well as guidance on our third fiscal quarter of 2012. Tim Main will follow with macro environment and Jabil’s specific comments about our performance, our model and our current outlook. We will then open it up to questions from call attendees. I will now turn the call over to Forbes. Forbes Alexander Thank you, Beth. Good evening everyone. If you’re following along, I’d like you to – if you would turn to slide 3 of our presentation. Our net revenue for the second quarter was $4.2 billion, an increase of 7.8% on a year-over-year basis. GAAP operating income was $150 million or 3.5% of revenue which compares to $105 million of GAAP operating income on revenues of $3.9 billion or 2.7% in the same period of the prior year.
Core operating income, excluding the amortization of intangibles, stock-based compensation increased 4.6% to $176.2 million and represents 4.2% of revenue. This compares to $168.4 million or 4.3% for the same period in the prior year. GAAP diluted earnings per share for the fiscal quarter was $0.46, an increase of 84% over the prior year. Core diluted earnings per share was $0.58, an increase of 7.4% over the prior year.If you now turn to slide 4 for some discussion on our segments. For the second quarter, diversified manufacturing services segment grew 33% on a year-over-year basis. Revenue was approximately $1.9 billion, representing 44% of total company revenues. Core operating income was 5.9% of revenue. Our specialized services group exceeded our expectations from a revenue standpoint. Most of the outperformance was driven by materials technology group. Gains in this group were offset by continued design investments in our healthcare business and the weakness in our aftermarket services group where an internal site transition negatively impacted both revenue and segment profitability for the quarter by some 40 to 50 basis points. We expect this transition to be resolved and operating performance within our aftermarket services group to return to previous historical levels in the upcoming quarter. Enterprise and infrastructure segment decreased 2% on a year-over-year basis. Revenue was approximately $1.2 billion, representing 29% of total company revenue and core operating income for the segment was 1.7% of revenue. Our enterprise and infrastructure performance remained below our previous expectations. As a result, continued end market weakness across our telecoms and networking customer base. I shall provide more color towards the end of my prepared remarks on our plan to return the segment to within our long term operating range targets. Read the rest of this transcript for free on seekingalpha.com