IHS (IHS) F2Q12 Earnings Call June 18, 2012 5:00 p.m. ET Executives Jerre Stead- Chairman and CEO Scott Key - President and COO Richard Walker - EVP and CFO Andy Schulz - IR Analysts Eric Boyer - Wells Fargo Brian Karimzad - Goldman Sachs Bill Warmington - Raymond James Toni - Morgan Stanley Kelly Flynn - Credit Suisse Bill Sutherland - Northland Capital Markets Andrew Steinerman - JP Morgan Manav Patnaik - Barclays Capital PresentationOperator
Good day ladies and gentlemen, and welcome to the second quarter 2012 IHS Incorporated earnings conference call. [Operator instructions.] I would now like to turn the conference over to your host for today, Mr. Andy Schulz, vice president of investor relations. And you have the floor sir. Andy Schulz Thank you operator. Good afternoon and thank you for joining us for the IHS second quarter 2012 earnings conference call. We issued two news releases earlier this afternoon. In addition to announcing our second quarter earnings, we announced a secondary offering. If you do not have the releases we issued earlier today, you will find copies of them on our website at IHS.com. Some of our comments and discussions on the quarter are based on non-GAAP measures. Our non-GAAP or adjusted numbers exclude stock-based compensation and other non-cash charges and other items. Our earnings release includes both our GAAP-based income statement and statement of cash flows and reconciliations to the non-GAAP measures discussed during this call. These reconciliation schedules can also be found on our website. The non-GAAP results are a supplement to the GAAP financial statements. IHS believes this non-GAAP presentation and the elimination of these items is useful in order to focus on what we deem to be a more reliable indicator of ongoing operating performance.