At this time, I would like to draw your attention to the Safe Harbor statement contained in today's press release and in our second quarter results presentation both of which you can find on our website at www.asml.com. This Safe Harbor statement will apply to this call and all associated presentation materials. The length of the call will be 60 minutes as normal.Now I would like to turn the call over to Eric Meurice for a brief introduction. Eric Meurice Thank you, Craig. Good afternoon. Good morning. Thank you for attending our conference call. As usual, before we begin the Q&A session Peter and I would like to provide an overview and commentary on the second quarter result and provide an outlook for the year. I will myself complete the introduction with some further comments on market view longer-term and about our strategy. So Peter please if you will. Peter Wennink Thank you Eric and welcome to everyone. Summarizing our second quarter; sales came in just about €1.2 billion which is essentially the same as in the previous quarter. This quarter sales remained largely skewed towards the foundry IDM sector which was about 73% including non critical Kaloyeros systems which are supporting the capacity additions. As in the first quarter only 9% of second quarter sales went to the DRAM sector with just under 20% going to NAND customers. The average selling price of all systems recognized in the second quarter was €22.4 million reflecting a bit higher Immersion shipments than the first quarter. Service and field option sales came in at a record of €243 million which is again driven by a significant adoption of system performance enhancing field options. Updating our previously announced share buyback program, as of July 10, 2012 last week, ASML has repurchased 33.2 million shares of which 7.5 million shares in 2012 for a total amount of €970 million of which €270 million in 2012 giving an average buyback price of €29. For regulatory reasons in connection with the customer co-investment program which we announced last week ASML has suspended its share buyback program from July 10, 2012 until further notice and we are then to resume share buybacks when permitted under applicable regulations.