Feb 5, 2013
Executives
Alexander M. Cutler : Chairman and CEO Richard H.
Fearon : Vice Chairman, CFO and Planning Officer Donald H. Bullock Jr.
: SVP, IR
Analysts
Jeffrey Sprague - Vertical Research Partners Ann Duignan - JP Morgan Chase & Co, Research Division Vlad Bystricky - Barclays Capital, Research Division David Raso - ISI Group Eli Lustgarten - Longbow Research LLC Jeffrey Hammond - KeyBanc Capital Markets Andrew Casey - Wells Fargo Securities Brian Grzelakowski - Goldman Sachs Group Inc., Research Division Joshua Pokrzywinski - MKM Partners LLC, Research Division Edward Wheeler - Buckingham Research Group, Inc.
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Eaton Corporation Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode and later we will conduct a question-and-answer session.
Instructions will be given at that time. (Operator Instructions) As a reminder, today’s conference is being recorded.
Donald H. Bullock Jr.
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Alexander M. Cutler
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Operator
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Donald H. Bullock Jr.
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Jeffrey Sprague - Vertical Research Partners
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Alexander M. Cutler
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Jeffrey Sprague - Vertical Research Partners
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Alexander M. Cutler
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Jeffrey Sprague - Vertical Research Partners
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Alexander M. Cutler
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Jeffrey Sprague - Vertical Research Partners
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Alexander M. Cutler
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Jeffrey Sprague - Vertical Research Partners
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Alexander M. Cutler
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Donald H. Bullock Jr.
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Ann Duignan - JP Morgan Chase & Co, Research Division
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Alexander M. Cutler
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Ann Duignan - JP Morgan Chase & Co, Research Division
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Ann Duignan - JP Morgan Chase & Co, Research Division
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Alexander M. Cutler
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Ann Duignan - JP Morgan Chase & Co, Research Division
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Ann Duignan - JP Morgan Chase & Co, Research Division
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Vlad Bystricky - Barclays Capital, Research Division
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Vlad Bystricky - Barclays Capital, Research Division
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Vlad Bystricky - Barclays Capital, Research Division
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David Raso - ISI Group
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David Raso - ISI Group
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David Raso - ISI Group
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David Raso - ISI Group
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David Raso - ISI Group
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Alexander M. Cutler
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Donald H. Bullock Jr.
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Eli Lustgarten - Longbow Research LLC
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Alexander M. Cutler
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Eli Lustgarten - Longbow Research LLC
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Alexander M. Cutler
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Eli Lustgarten - Longbow Research LLC
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Alexander M. Cutler
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Eli Lustgarten - Longbow Research LLC
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Richard H. Fearon
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Eli Lustgarten - Longbow Research LLC
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Richard H. Fearon
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Alexander M. Cutler
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Eli Lustgarten - Longbow Research LLC
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Alexander M. Cutler
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Eli Lustgarten - Longbow Research LLC
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Alexander M. Cutler
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Eli Lustgarten - Longbow Research LLC
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Donald H. Bullock Jr.
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Jeffrey Hammond - KeyBanc Capital Markets
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Alexander M. Cutler
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Jeffrey Hammond - KeyBanc Capital Markets
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Alexander M. Cutler
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Jeffrey Hammond - KeyBanc Capital Markets
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Alexander M. Cutler
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Jeffrey Hammond - KeyBanc Capital Markets
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Donald H. Bullock Jr.
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Andrew Casey - Wells Fargo Securities
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Alexander M. Cutler
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Donald H. Bullock Jr.
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Andrew Casey - Wells Fargo Securities
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Alexander M. Cutler
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Andrew Casey - Wells Fargo Securities
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Alexander M. Cutler
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Andrew Casey - Wells Fargo Securities
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Alexander M. Cutler
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Andrew Casey - Wells Fargo Securities
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Alexander M. Cutler
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Richard H. Fearon
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Alexander M. Cutler
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Andrew Casey - Wells Fargo Securities
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Donald H. Bullock Jr.
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Brian Grzelakowski - Goldman Sachs Group Inc., Research Division
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Alexander M. Cutler
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Brian Grzelakowski - Goldman Sachs Group Inc., Research Division
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Alexander M. Cutler
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Brian Grzelakowski - Goldman Sachs Group Inc., Research Division
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Donald H. Bullock Jr.
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Joshua Pokrzywinski - MKM Partners LLC, Research Division
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Alexander M. Cutler
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Joshua Pokrzywinski - MKM Partners LLC, Research Division
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Alexander M. Cutler
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Joshua Pokrzywinski - MKM Partners LLC, Research Division
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Alexander M. Cutler
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Joshua Pokrzywinski - MKM Partners LLC, Research Division
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Alexander M. Cutler
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Joshua Pokrzywinski - MKM Partners LLC, Research Division
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Alexander M. Cutler
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Joshua Pokrzywinski - MKM Partners LLC, Research Division
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Alexander M. Cutler
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Joshua Pokrzywinski - MKM Partners LLC, Research Division
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Donald H. Bullock Jr.
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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Alexander M. Cutler
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Edward Wheeler - Buckingham Research Group, Inc.
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All other use is prohibited. THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS.
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Alexander M. Cutler
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet.
(Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com.
All other use is prohibited. THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS.
IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.
If you have any additional questions about our online transcripts, please contact us at: [email protected]. Thank you!
Edward Wheeler - Buckingham Research Group, Inc.
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet.
(Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com.
All other use is prohibited. THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS.
IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.
If you have any additional questions about our online transcripts, please contact us at: [email protected]. Thank you!
Alexander M. Cutler
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet.
(Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com.
All other use is prohibited. THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS.
IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.
If you have any additional questions about our online transcripts, please contact us at: [email protected]. Thank you!
Edward Wheeler - Buckingham Research Group, Inc.
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet.
(Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com.
All other use is prohibited. THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS.
IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.
If you have any additional questions about our online transcripts, please contact us at: [email protected]. Thank you!
Operator
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet.
(Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com.
All other use is prohibited. THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS.
IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.
If you have any additional questions about our online transcripts, please contact us at: [email protected]. Thank you!
Alexander M. Cutler
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet.
(Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com.
All other use is prohibited. THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS.
IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.
If you have any additional questions about our online transcripts, please contact us at: [email protected]. Thank you!
Operator
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet.
(Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com.
All other use is prohibited. THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS.
IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.
If you have any additional questions about our online transcripts, please contact us at: [email protected]. Thank you!