Operator: Good day, everyone, and welcome to the Est�e Lauder Companies' Fiscal 2011 First Quarter Conference Call. Today's call is being recorded and webcast. For opening remarks and introductions, I would like to turn the call over to the Vice President of Investor Relations, Mr. Dennis D'Andrea. Please go ahead, sir.
Dennis D'Andrea - VP, IR: Good morning, everyone. On today's call are Fabrizio Freda, President and Chief Executive Officer, and Rick Kunes, Executive Vice President and Chief Financial Officer. Also on the call is Harvey Gedeon, Executive Vice President in charge of Global R&D and Innovation. Harvey will be available for the questions.
Since many of our remarks today contain forward-looking statements, let me refer you to our press release and our reports filed with the SEC, where you'll find factors that could cause actual results to differ materially from these forward-looking statements. You can also find a reconciliation between GAAP and non-GAAP figures in our press release and on the Investors section of our website.
So, I'll turn the call over to Fabrizio.
Fabrizio Freda - President and CEO: Good morning, and thank you for joining our fiscal 2011 first quarter conference call. Today, I will discuss the quarter's highlights and progress we made against our strategy, and Rick will provide details of our financial performance.
We announced this morning that before restructuring charges, sales for quarter grew 13% to $2.1 billion. This was a milestone, since this is the first time we have exceeded $2 billion in sales in our first quarter. Our strong performance was due to robust business around the world and was helped by the dollar, which was weaker than we had forecast.
Diluted earnings per share were $0.97 on a non-GAAP basis, up 14% versus a year ago. Our success was broad-based. Sales climbed by double-digits in every region, including North America, and in our three largest categories, driven by strong product launches and increased advertising spending in the previous quarter. In fact, our higher sales span the range of the portfolio, from our entry-level prestige brands to high-end luxury ones.
Most significantly, our largest brands led the way, Est�e Lauder, Clinique, M.A.C, and Aramis Designer Fragrances had such great momentum that each rang up double-digit sales gains globally and delivered substantial improvement in North America.
All-in-all, it was a terrific performance in many regards. Several of our financial measures broke records for a first-quarter, including sales, operating margin, earnings, and EPS. Our strategy is clearly working, and we're executing it well, which is reflected in these outstanding financial achievements.
We also made progress against many of our specific strategic goals. We again gained share in skin care in important channels and countries, including U.S. prestige department stores and our prestige distribution in China.
Also, our turnaround brands showed further improvement. Our creativity resulted in blockbuster launches. We exited our cost saving projection by about $50 million and we continued building our strategic capabilities.