Operator: Good day everyone and welcome to the Fairchild Semiconductor First Quarter 2011 Earnings Call. Just a reminder, that today's conference is being recorded.
At this time, I would like to turn the conference over to Mr. Dan Janson. Please go ahead.
Dan Janson - VP, IR: Thank you. Good morning and thank you for dialing into Fairchild Semiconductor's first quarter of 2011 financial results conference call. With me today is Mark Thompson, Fairchild's President and CEO; and Mark Frey, our Executive Vice President and CFO.
Let me begin by mentioning that we will be attending the Robert W. Baird Growth Stock Conference on May 11 in Chicago; the Deutsche Bank Semiconductor Conference in San Francisco on May 12; and the JPMorgan Technology, Media & Telecom Conference on May 16 in Boston.
We'll start today's call with Mark Frey who will review our first quarter financial results and discuss the current status of second quarter business. Mark Thompson will then discuss our product line results, end markets, and operational performance in more detail.
Finally, we'll reserve time for questions and the answers. This call is scheduled to last approximately 60 minutes and is being simultaneously webcast from the Investor Relations section of our website at fairchildsemi.com. The replay for this call will be publicly available for approximately 30 days.
Fairchild management will be making forward-looking statements in this conference call. These statements, including all statements about future results and performance, are made based on assumptions and estimates that involve risks and uncertainties. Many factors could cause actual results to differ materially from those expressed in forward-looking statements. A discussion of these risk factors is provided in the quarterly and annual reports we file, with the SEC.
In addition, during this call, we may refer to adjusted or other financial measures that are not prepared according to Generally Accepted Accounting Principles. We use non-GAAP measures because we believe they provide useful information about the operating performance of our businesses that should be considered by investors in conjunction with GAAP measures that we also provide.
You can find the reconciliation of non-GAAP to comparable GAAP measures at the Investor Relations section of our website at investor.fairchildsemi.com. The website also contains the 2011 Q1 fact sheet and a financial section with updated unaudited financial highlights, including detailed breakouts of segment and regional revenues, gross margins, EBIT, and EBITDA.
Now, I'll turn the discussion over to Mark Frey.
Mark S. Frey - EVP, CFO and Treasurer: Thanks, Dan. Good morning and thank you for joining us. I'm sure most of you have had a chance to review our earnings press release, so I'll focus on just the key points in my comments.
We delivered the highest first quarter sales, gross margin and EPS since the year 2000, due to strong demand for our high-voltage power solutions and more design wins for MCCC. We also generated solid free cash flow and ended Q1 with the highest net cash position in our history. Let's review some of the details starting with our income statement.