CVS Caremark Corp CVS
Q4 2011 Earnings Call Transcript
Operator: Ladies and gentlemen, thank you for standing by and welcome to the Q4 CVS Caremark Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. As a reminder, this conference is being recorded Wednesday, February 8, 2012.
I would now like to turn the conference over to Nancy Christal, Senior Vice President, Investor Relations. Please go ahead, ma'am.
Nancy R. Christal - SVP, IR: Thank you. Good morning, everyone, and thanks for joining us today. I'm here with Larry Merlo, President and CEO, who will provide a business update and Dave Denton, Executive Vice President and CFO, who will provide a financial review; Per Lofberg, President of our PBM Business; and Mark Cosby, President of CVS Pharmacy are also with us today and they will participate in the question-and-answer session following our prepared remarks.
During the Q&A, please limit your questions to one or two including follow-ups so we can provide more analysts and investors the chance to ask their questions. During this call we'll discuss some non-GAAP financial measures in talking about our Company's performance, namely, free cash flow, EBITDA and adjusted EPS. In accordance with SEC regulations, you can find the definitions of the non-GAAP items I mentioned, as well as the reconciliations to comparable GAAP measures on the Investor Relations portion of our website.
Please note that we also posted slides and supplemental financial schedules on our website this morning that summarize the information on this call, as well as key facts and figures around our operating performance and guidance, so you may want to check those out. As always, today's call is being simulcast on our website and it will be archived there following the call for one year. Finally, please note that we expect to file our Form 10-K by the close of business on February 21, and it will be available through our website at that time.
Now, before we begin, our attorneys have asked me to read the Safe Harbor statement. During this presentation, we will make certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. Accordingly, for these forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
We strongly recommend that you become familiar with the specific risks and uncertainties that are described in the Risk Factors section of our most recently filed Annual Report on Form 10-K, and that you review the sections entitled Cautionary Statement Concerning Forward-Looking Statements in our most recently filed quarterly report on Form 10-Q.
Now, I'll turn this over to our Larry Merlo.
Larry J. Merlo - President and CEO: Thanks, Nancy, and good morning, everyone. Hopefully you've had a chance to read through our press release this morning and we're obviously very pleased with the strong financial results we posted, along with the great progress we made across the enterprise last year. Our accomplishments in 2011 set a solid foundation for future growth and as we outlined for you at our Analyst Day in December, we look forward to an even better year in 2012.
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