Precision Castparts (PCP) Q1 2013 Earnings Call July 26, 2012 10:00 am ET Executives Mark Donegan - Chairman, Chief Executive Officer and President Shawn R. Hagel - Chief Financial Officer, Principal Accounting Officer, Senior Vice President and Assistant Secretary Analysts Robert Stallard - RBC Capital Markets, LLC, Research Division Robert Spingarn - Crédit Suisse AG, Research Division Jason M. Gursky - Citigroup Inc, Research Division Richard Tobie Safran - The Buckingham Research Group Incorporated Seth M. Seifman - JP Morgan Chase & Co, Research Division Peter J. Arment - Sterne Agee & Leach Inc., Research Division David E. Strauss - UBS Investment Bank, Research Division Amit Mehrotra - Deutsche Bank AG, Research Division Gautam Khanna - Cowen and Company, LLC, Research Division Noah Poponak - Goldman Sachs Group Inc., Research Division Stephen E. Levenson - Stifel, Nicolaus & Co., Inc., Research Division Samuel J. Pearlstein - Wells Fargo Securities, LLC, Research Division Ronald J. Epstein - BofA Merrill Lynch, Research Division PresentationOperator
Good morning, and welcome to the Precision Castparts Webcast and Conference Call to discuss its first quarter for fiscal 2013. This event is being recorded and will be available on PCC's company website at www.precast.com shortly after the conclusion of the presentation and discussion. Following remarks by members of PCC management, the dial-in access lines will be open for your questions. [Operator Instructions] Now I will turn the floor over to Mr. Mark Donegan, Chairman and Chief Executive Officer of Precision Castparts. Please go ahead, sir. Mark Donegan Thank you, operator. I'm sure you're all very familiar with the forward-looking statement. You need to take consideration when you're analyzing the following information. If I look at Q1 in total, I think it provided a solid expansion on both the top and bottom line versus last year. But looking at our company performance in total, we saw sales increase by 17.6%, going from roughly $1.68 billion last year to roughly $1.97 billion this year.