Estee Lauder Companies (EL) Q3 2012 Earnings Call May 04, 2012 9:30 am ET Executives Dennis D'Andrea - Vice President of Investor Relations Fabrizio Freda - Chief Executive Officer, President and Director Christopher Wood - Senior Vice President of Global Strategic Modernization Initiative Richard W. Kunes - Chief Financial Officer, Principal Accounting Officer And Executive Vice President Analysts Christopher Ferrara - BofA Merrill Lynch, Research Division Neely J.N. Tamminga - Piper Jaffray Companies, Research Division Mark S. Astrachan - Stifel, Nicolaus & Co., Inc., Research Division David Wu - Telsey Advisory Group LLC Alice Beebe Longley - The Buckingham Research Group Incorporated Ali Dibadj - Sanford C. Bernstein & Co., LLC., Research Division Faiza Alwy - Deutsche Bank AG, Research Division Caroline S. Levy - Credit Agricole Securities (USA) Inc., Research Division Lauren R. Lieberman - Barclays Capital, Research Division PresentationOperator
Good day, everyone, and welcome to The Estée Lauder Companies Fiscal 2012 Third Quarter Conference Call. Today's call is being recorded and webcast. For opening remarks and introductions, I would like to turn the call over to the Vice President of Investor Relations, Mr. Dennis D'Andrea. Please go ahead, sir. Dennis D'Andrea Good morning, everyone. On today's call, we have: Fabrizio Freda, President and Chief Executive Officer; Rick Kunes, Executive Vice President and Chief Financial Officer; and Christopher Wood, Senior Vice President, Global Modernization, Information and Efficiency. Christopher will review the substantial progress we've made with our Strategic Modernization Initiative, as well as future deployment plans. Since many of our remarks today contain forward-looking statements, let me refer you to our press release and our reports filed with the SEC, where you'll find factors that could cause actual results to differ materially from these forward-looking statements. Except when noted, our discussion of our financial results and our expectations are before restructuring and other charges. And as noted, our discussion will also be before sale shifts attributable to our Strategic Modernization Initiative. You can find a reconciliation between GAAP and non-GAAP figures in our press release and on the Investor Relations section of our website. And I'll turn the call to Fabrizio.