Reynolds American (RAI) Q1 2012 Earnings Call April 24, 2012 9:00 am ET Executives Morris Moore - Daniel M. Delen - Chief Executive Officer, President and Director Thomas R. Adams - Chief Financial Officer and Executive Vice President Analysts Unknown Analyst Vivien Azer - Citigroup Inc, Research Division Christina McGlone - Deutsche Bank AG, Research Division Bonnie Herzog - Wells Fargo Securities, LLC, Research Division David J. Adelman - Morgan Stanley, Research Division Judy E. Hong - Goldman Sachs Group Inc., Research Division Priya Ohri-Gupta - Barclays Capital, Research Division Christopher Ferrara - BofA Merrill Lynch, Research Division Ann H. Gurkin - Davenport & Company, LLC, Research Division Thilo Wrede - Jefferies & Company, Inc., Research Division PresentationOperator
Good day, ladies and gentlemen, and welcome to Reynolds American First Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. And now I'll turn the conference over to your host, Vice President of Investor Relations, Mr. Morris Moore. Please begin. Morris Moore Good morning, and thank you for joining us. Today, we'll discuss Reynolds American's results for the first quarter, as well as our outlook for the full year. As always, our discussion will focus on adjusted results as management believes this better reflects our underlying business performance. A reconciliation of reported to adjusted earnings is in our press release, which is on our website at reynoldsamerican.com. Joining me this morning are RAI's President and CEO, Dan Delen; and Tom Adams, our CFO. The information we're about to discuss includes forward-looking statements. When we talk about future results or events, a number of factors could generate results materially different from our projections today. These factors include, but are not limited to, items detailed in our press release and SEC filings. Except as provided by federal securities laws, we're not required to publicly update or revise any forward-looking statements.