Operator: Good morning, ladies and gentlemen, and welcome to Baxter International's Second Quarter Earnings Conference Call. Your lines will remain in a listen-only mode until the question-and-answer segment of today's call.
As a reminder, this call is being recorded by Baxter and is copyrighted material. It cannot be recorded or rebroadcast without Baxter's permission. If you have any objections, please disconnect at this time.
I would now like to turn the call over to Ms. Mary Kay Ladone, Corporate Vice President, Investor Relations at Baxter International. Ms. Ladone, you may begin.
Mary Kay Ladone - Corporate VP, IR: Thanks Sean. Good morning, everyone, and welcome to our Q2 2011 earnings conference call. Joining me today are Bob Parkinson, CEO and Chairman of Baxter International, and Bob Hombach, Chief Financial Officer.
Before we get started, let me remind you that this presentation, including comments regarding our financial outlook, new product developments, and regulatory matters contain forward-looking statements that involve risks and uncertainties, and of course, our actual results could differ materially from our current expectations. Please refer to today's press release and our SEC filings for more detail concerning factors that could cause actual results to differ materially.
In addition, in today's call, non-GAAP financial measures will be used to help investors understand Baxter's ongoing business performance. A reconciliation of the non-GAAP financial measures being discussed today to the comparable GAAP financial measures is included in our earnings release issued this morning and available on our website.
Now, I'd like to turn the call over to Bob Parkinson.
Robert L. Parkinson, Jr. - Chairman and CEO: Thanks, Mary Kay. Good morning. Thanks for calling in. We're pleased this morning to announce financial results for the second quarter and also provide you with an update on our full-year 2011 outlook.
As you all saw in the press release that was issued earlier this morning, adjusted EPS of $1.07 per diluted share exceeded guidance for the quarter and increased 15% versus the prior year. This performance was a result of double-digit sales growth, operational leverage, foreign currency favorability, and the benefit from our ongoing share repurchase program.
Second quarter sales growth after adjusting for FX was 6% as growth improved on a sequential basis across multiple categories in BioScience. Year-to-date sales growth, again after adjusting for FX and the revenue adjustment in 2010, was 5% and EPS accelerated 10%. While Bob will provide more details on Baxter's financial results for the first half of the year in just a few minutes, as indicated in the press release issued this morning, we have raised our full-year sales guidance on a reported basis as well as our full-year earnings guidance before special items.
While we're pleased with improving fundamentals and enhance financial performance as evidenced by our first half results, I'd highlight that we continue to navigate through a challenging macro environment that's evolving on a global basis and continues to exert ongoing pressures on our business and the healthcare industry more broadly. Having said that, we're particularly vigilant in monitoring the external environment and remaining focused on accelerating future growth by leveraging the broad and diverse nature of our product portfolio, our geographic region, capitalizing on the unique opportunities for expansion that our new product pipeline affords.