iRobot Corporation (IRBT) Q22012 Earnings Call July 25, 2012 8:30 am ET Executives Colin Angle – Chairman and Chief Executive Officer John Leahy - Chief Financial Officer Elise Caffrey - Investor Relations Analysts James Ricchiuti - Needham & Company Josephine Millward - The Benchmark Company Adam Fleck – Morningstar Alex Hamilton – Early Bird Paul Coster - JPMorgan Brian Ruttenbur - CRC Capital PresentationOperator
Good day, everyone and welcome to the iRobot second quarter 2012 financial results conference call. This call is being recorded. At this time for opening remarks and introductions, I would like to turn the call over to Elise Caffrey of iRobot Investor Relations. Please go ahead. Elise Caffrey Thank you, and good morning. Before I introduce the iRobot management team, I would like to note that statements made on today’s call that are not based on historical information are forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and involve a number of factors that could cause actual results to differ materially from those expressed or implied by such statements. Additional information on these risks and uncertainties can be found in our public filings with the Securities and Exchange Commission. iRobot undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, or circumstances. During this conference call, we will also disclose non-GAAP financial measures as defined by SEC Regulation G, including adjusted EBITDA, which we define as earnings before interest, taxes, depreciation, amortization, merger and acquisition expenses, restructuring expenses, net intellectual property litigation expenses and non-cash stock compensation. A reconciliation of GAAP and non-GAAP metrics can be found in the financial tables at the end of the second quarter 2012 earnings press release issued last evening, which is available on our website.