Lexmark International Inc LXK
Q3 2010 Earnings Call Transcript

Transcript Call Date 10/26/2010

Operator: Welcome to the Lexmark International Third Quarter 2010 Earnings Conference Call. During the Company’s opening remarks, all participants will be in a listen-only mode. Afterwards we will conduct a question-and-answer session (Operator Instructions). As a reminder, this conference call is being recorded on Tuesday, October 26, 2010.

I would now like to turn the call over to John Gamble, Executive Vice President and CFO of Lexmark. Please go ahead, John.

John W. Gamble Jr. - EVP and CFO: Good morning, and thank you for joining us. John Morgan Lexmark's Director of Investor Relations is not participating today as he has recently undergone surgery and is currently out of the office. We are looking forward to John's return, but in the meantime to reach Lexmark Investor Relations. Please continue to use John Morgan's phone number or email and we will ensure your request is handled correctly.

Joining me on the call this morning is Lexmark Executive Chairman, Paul Curlander; and Lexmark's newly appointed President and CEO Paul Rooke. After our remarks, we will open the call for your questions as time permits. We ask that you please limit yourself to one question and one follow-up, if needed, so that we can get to everyone. As a reminder we will be referring to non-GAAP numbers on today's call unless otherwise indicated. The reconciliation of our non-GAAP comments to our GAAP results can be found in the 3Q10 earnings release and supplemental slide deck posted earlier today on the Investor Relations section of Also on this site you will find details regarding our upcoming events including our participation in the Credit Suisse Annual Technology Conference on December 1, and then the Barclays Capital Global Technology Conference on December 8. Following the conclusion of this conference call today a complete replay will be made available at this site as well.

Also as a reminder any of today's remarks that are not statements of historical fact or forward-looking statements and involve certain risks and uncertainties that are disclosed in the Safe Harbor Section of our earnings releases and SEC filings. Actual results may differ materially from such statements, and Lexmark undertakes no obligation to update any forward-looking statements.

With that I’ll turn the call over to Paul Curlander.

Paul J. Curlander - Executive Chairman: Thank you, John. Well this morning, I announced my intention to retire from Lexmark in the spring of 2011. As part of a planned succession process, I have assumed the role of Executive Chairman, effective today. I'd like to invite everyone on the call to join me in congratulating Paul Rooke, on his appointment as President and Chief Executive Officer of Lexmark.

I have known and worked with Paul for over 20 years and throughout his career, he has demonstrated tremendous leadership, strategic thinking, and operational ability. Paul has been with the company since its inception in 1991. He has run both of our printer divisions, PSSD and ISD and has been involved in all aspects of our business and has participated in the formulation of all of our key strategic initiatives. He is well respected by our employees, our customers and our investors.

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