Also on today's call are speakers who will reference certain non-GAAP financial measures which we believe will provide useful information for investors. A reconciliation of those measures to GAAP will be posted on the Investor Relations website at www.alliancedata.com.With that I would like to turn the call over to Ed Heffernan. Ed? Ed Heffernan Great, thanks Julie. Alright, we’re going to get right at it today and joining me as always is the ever popular Charles Horn our CFO and also Bryan Kennedy the Head of Epsilon. Charles is going to discuss our consolidated LoyaltyOne and Private Label results. Bryan will walk you through Epsilon’s results and I will wrap it up by walking you through our updated guidance for 2012. Charles? Charles Horn Thanks Ed. To use an idioism it was a boomer of the quarter. For the second quarter of 2012 revenue increased 17% to $866 million, EPS increased 37% to $1.63 per share; core EPS increased 22% to $2.13 meeting the company’s guidance of $1.85 and lastly adjusted EBITDA net of funding costs increased 33% to $264 million. As noted above, the 30.8 million share increase in Phantom shares dampened core EPS for the second quarter. Excluding Phantom shares from the calculation of core EPS for both periods presented pro-forma core EPS was $2.46 for Q2 2012 compared to $1.91 for Q2 2011, a 29% increase year-over-year. We expect the overhang from Phantom shares which is directly correlated with the average ADS share price to continue throughout 2012 and as such have increased our share count guidance for 2012. Ed will talk about this further as part of his update later on the call. Let’s turn the page and look at LoyaltyOne. LoyaltyOne had a solid second quarter with both revenue and adjusted EBITDA growing by double digits over the second quarter of 2011. Revenue was up 13% compared to the second quarter of 2011 and up 18% when excluding the unfavorable impact of foreign exchange translation. The growth in revenue was driven by robust increases in both redemption and marketing related revenue.