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I would now like to turn the conference over to Steve.Stephen J. Hagge Thanks, Matt, and good morning, everyone. Yesterday we reported results for the second quarter that were in line with the updated guidance we issued a couple of weeks ago. We also announced that we completed the Stelmi acquisition in early July. We view this transaction as a very positive expansion of our pharma segments product portfolio, I’m happy to report that the underlying Stelmi business is doing very well and our integration work has already begun and that the customer feedback on the transaction has been very positive. Bob will discuss the financial impact of the transaction a bit later. The second quarter was a challenging one. Currency exchange rates had a significant negative impact on our sales and earnings. Also broad based softness in Europe affected each of our business segments, but on the positive side, we experienced strong growth in Latin America and Asia. Overall, we were able to grow core sales, in spite of the challenges. Thanks to our innovative industry leading products, our widespread global presence, and a variety of markets we serve and the dedication of our talented employees. Even with the difficult economic environment, I’m very encouraged by the level of project activity across each of our segments. Now looking at the segments – looking at our segments performance for the second quarter, our Beauty & Home segment primarily serves the fragrance/cosmetic and personal care markets. These two markets were affected by the slow down in Europe in this quarter. Project activity remains at good level for our Beauty & Home products and we participated in several new launches by customer this quarter, including several new fragrances, a new men skincare, several new cosmetic products launch using our innovative dispensing solutions, including our fully recyclable airless pump.
We also participated in several hair care product launches by some of our large multinational customers and several body lotion and spray products that are equipped with our dispensing systems that were launched in Russia, Poland and Thailand. Now looking at our pharma segment, strong demand for our nasal delivery devices from the prescription drug market was partially offset by weaker sales to the consumer healthcare market.We’re particularly pleased that we began shipping from our new facility in Mumbai, India during the quarter as anticipated. Also it was an exciting quarter in terms of approvals of new drugs that are equipped with our delivery systems. There were a couple of approvals that happened in the quarter, that did not impact our results. But are important nonetheless as they relate to the debut of our patented dose indicator called Landmark. Skyepharma’s Flutiform, a combination steroid treatment for asthma has been approved in Europe and is expected to be on the market before the end of the year. Flutiform is equipped with Aptar Pharma’s Landmark dose indicator and a metered dose valve. Also in nasal aerosol allergy treatment distributed by Sunovion Pharmaceuticals has been approved by the FDA and also uses our Landmark system. This treatment is planned to be on the market in the U.S. later in the third quarter just ahead of the fall of allergy season. On the generic front, the FDA approved Sun Pharma’s generic Astelin Nasal Spray, which is equipped with our nasal delivery device and this again is expected to be on the market in the second half of 2012. We also have some several interesting consumer healthcare launches including a new eye moisturizing product in Europe that uses our preservative free pump. Several nasal saline launches in Brazil and Argentina, using our Bag-on-Valve system and in China several customers launched antiseptic sprays using various topical spray pumps of ours. Read the rest of this transcript for free on seekingalpha.com