http://www.morningstar.com/earnings/16714507-armstrong-world-industries-inc-awi-q2-2010.aspx

Armstrong World Industries Inc AWI
Q2 2010 Earnings Call Transcript

Transcript Call Date 08/06/2010

Operator: Good day, ladies and gentlemen, and welcome to the Q2 2010 Armstrong World Industries Incorporated Earnings Conference Call. My name is Katrina, and I'll be your coordinator for today. At this time, all participants are in a listen-only mode. We will be conducting a question-and-answer session towards the end of today's conference. As a reminder, this conference is being recorded for replay purposes.

I would now like to turn the presentation over to your host for today's call, Beth Riley, Vice President of Investor and Public Relations. Please proceed.

Beth A. Riley - VP, IR, Communication, Diversity: Thank you, Katrina. Good afternoon and welcome. Please note that members of the media have been invited to listen to this call, and the call is being broadcast live on our website at armstrong.com. With me this afternoon are Matt Espe, our new President and CEO; Tom Mangas, our CFO and Frank Ready, the CEO of our Worldwide Floor businesses.

Hopefully, you've seen our press release this morning, and both the release and the presentation Tom will reference during the call, are posted on our website in the Investor Relations section.

In keeping with SEC requirements, I advise that during this call, we will be making forward-looking statements that involve risks and uncertainties. Actual outcomes may differ materially from those expected or implied. For a more detailed discussion of the risks and uncertainties that may affect Armstrong, please review our SEC filings including the 10-Q filed today. We undertake no obligation to update any forward-looking statements.

In addition, our discussion of operating performance will include non-GAAP financial measures within the meaning of SEC Regulation G. A reconciliation of these measures with the most directly comparable GAAP measures are included in the press release and in the appendix of the presentation. Both again are available on our website.

With that, I'll turn the call over to Matt.

Matthew J. Espe - President and CEO: Thanks, Beth, and good afternoon, everybody. We're going to ask Tom to take you through our results, but what I'd like to do is just open with a few remarks. First of all, I'm pleased and thrilled to join Armstrong as the CEO, especially as our Company marks its 150th anniversary. The longevity of Armstrong is a direct result of our dedicated employees and I think our remarkable ability to respond in diverse market conditions.

We’ve navigated through various economic environments over the past 15 decades, each of those decades bring with it a new set of challenges and opportunities. I intend to build on our legacy of successfully adapting to these changing market dynamics and taking advantage of opportunities that fit our strategy.

My arrival here at Armstrong is a signal that we're ready to move quickly at executing our existing strategy of growth and focus on the customer, while at the same time taking actions on our cost structure which enables us to be more competitive in our industry.

And while I was considering Armstrong as a next step, I discovered a great Company with terrific opportunities and a very strong foundation. It's a great match for me. I have a strong customer orientation. I've got an appetite for growth and a readiness to make tough calls. I look forward to working with our very active and aligned Board who in have been working closely with the management team to develop a robust roadmap for our future.

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