Operator: Good morning. My name is Ashlee, and I will be your conference operator today. At this time, I would like to welcome everyone to the Third Quarter Earnings 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.
I'd now like to turn today's conference over to Katharine Kenny. Ma'am, you may begin your conference.
Katharine Kenny - VP, IR: Good morning. Thanks Ashlee, and happy holidays to everyone. Thank you for joining our fiscal 2012 third quarter earnings conference call. On the call with me today are Tom Folliard, our President and Chief Executive Officer; and Tom Reedy, our Senior Vice President and CFO.
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. Tom?
Tom Folliard - President and CEO: Thank you, Katharine. Good morning, everyone. Thanks for joining us today. We're pleased again to report solid financial results despite soft used unit comps. We believe our comps continue to be a reflection of weak economic conditions and low consumer confidence. In addition, we had an extremely difficult comparison to 16% comps in last year's third quarter, but as we said last quarter, we remain focused on our long-term growth and we are excited to report this quarter on our store opening plans for the next four years.
First, let me highlight some of the key factors that contributed to our results as compared to last year's third quarter. Total gross profit for CarMax increased by 2%, driven by growth in our retail and wholesale gross profit. Gross profit per used unit grew by 3% to $2,171. Our wholesale unit sales grew by 13%, and wholesale gross profit per unit grew by $36 to $914. Our appraisal buy rate was 29%; higher than historic levels, but slightly lower than last year's buy rate.
CAF quarterly income grew by 12% to $62.6 million. During the quarter, our mix of vehicles changed somewhat. Sales of older vehicles, 5-years plus, increased to approximately 30% of sales compared with 16% a year ago, and 24% in the second quarter. Meanwhile, sales of SUVs and trucks increased a few percentage points to 31%, up from 28%, while sales of smaller more fuel-efficient vehicles decreased to 32%, down from around 35%. Our mix will clearly vary over time in reaction to market demand, again reflecting the strength of our model and how quickly we can adjust our inventory mix to meet the needs of our customers.