Operator: Good morning. My name is Roshyra, and I will be your conference operator today. At this time, I would like to welcome everyone to the Second Quarter Fiscal Year 2012 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Thank you.
Ms. Kenny, you may begin your conference.
Katharine Kenny - VP, IR: Hi, it's Katharine Kenny. Thank you all for joining our fiscal second quarter 2012 earnings conference call. On the call with me today as usual are Tom Folliard, our President and Chief Executive Officer; Tom Reedy, our Senior Vice President and CFO; and Keith Browning, our Executive Vice President, Finance.
Before we begin, let me remind you that our statements today regarding the Company's future business plans, prospects, and financial performance are forward-looking statements that we make pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current knowledge and assumptions about future events that involve risks and uncertainties that could cause actual results to differ materially from our expectations. In providing projections and other forward-looking statements, the Company disclaims any intent or obligation to update them.
For additional information on important facts that could affect these expectations, please see the Company's Annual Report on Form 10-K for the fiscal year ended February 28, 2011 filed with the SEC.
I'll turn it over to Tom?
Tom Folliard - President and CEO: Thank you, Katharine. Good morning, everyone. Thanks for joining our second quarter conference call. While despite a decrease in used unit comps of 2%, we reported strong financial results for the second quarter. While we were disappointed by this moderate decrease in sales, we believe it was largely due to the weak economic environment and lower consumer confidence.
Factors that contributed to our results included the following; total gross profit for CarMax increase by 1.5%, gross profit per unit was relatively flat at $2,178. Our wholesale business was again a strong contributor to our results. Unit sales grew by 23%, largely due to a continuation of the increase in appraisal traffic that we've seen in recent quarters.
Our appraisal buy rate was also at a historical high of around 30%. Wholesale gross profit per unit grew by $71 to $929 per unit. Our CarMax Auto Finance also reported a substantial increase in quarterly income. Tom Reedy will give you some details in a moment.
The average selling price of our used vehicles increased over 7% compared to last year's second quarter, largely due to continued increase in wholesale prices. Our mix of vehicles sold was relatively stable for the quarter.
Now, I'll ask Tom to share some information about CAF and our finance business. Tom?
Tom Reedy - SVP and CFO: Thanks, Tom. Good morning, everyone. As you saw in the release, CAF income this quarter increased $11 million or 21% compared to the second quarter of fiscal 2011. Overall, the CAF portfolio grew 9%. Net loans originated was up 27% versus Q2 of fiscal 2011 due to higher CAF penetration and an increase in average selling prices.