Operator: Good afternoon ladies and gentlemen. Welcome to the Penske Automotive Group First Quarter 2012 Earnings Conference Call. Today's call is being recorded and it will be available for replay approximately one hour after completion through May 2, 2012. Please refer to the Company's press release dated March 28, 2012, for specific information about how to access the replay. An audio file of today's call will be available on the Company's website under the Investor Relations tabs at www.penskeautomotive.com.
I would now like to introduce Tony Pordon, the Company's Executive Vice President of Investor Relations and Corporate Development. Sir, please go ahead.
Anthony R. Pordon - EVP, IR and Corporate Development: Thank you, John. Good afternoon, everyone. A press release detailing Penske Automotive Group's first quarter results was issued this morning and is posted on the Company's website. Joining me for today's call are Roger Penske, our Chairman; Dave Jones, our Chief Financial Officer; and J.D. Carlson, our Controller. Following today's call, I will be available by phone to address any additional questions that you may have.
Before we begin, I would like to remind you that we may discuss certain non-GAAP financial measures, such as EBITDA, on our call today. We have reconciled EBITDA to the most directly comparable GAAP measures in our press release dated April 25, 2012. I refer you to that press release for additional information.
We may also make forward looking statements on this call, including statements regarding Penske Automotive Group's future sales potential and outlook. Our actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties are addressed in our Form 10-K for the year ended December 31, 2011, and our other filings with the Securities and Exchange Commission. Please refer to those filings for additional information.
At this time, I'd like to turn the call over to Roger Penske, who will take you through our first quarter results.
Roger S. Penske - Chairman and CEO: Thank you, Tony. Good afternoon, everyone, and thank you for joining us today. Today, Penske Automotive reported another quarter of record profitability, marking our 11th consecutive period of quarter-over-quarter growth in income from continuing operations and earnings per share.
For the first quarter, we reported double-digit increases in total retail units sold, revenue, gross profit, operating income, net income, and earnings per share. Income from continuing operations attributable to common shareholders increased 37% to $50 million and related earnings per share increased 41% to $0.55.
Let's take a look at the specifics of the first quarter. Revenues increased 17.9% to $3.2 billion. On a same-store basis, retail revenues increased 7.5%. In the U.S., we were up 8.5% and internationally we were up 5.9%. Our premium luxury brand were up 6.6%, on a same-store basis our volume foreign brands were up 8.5& and our domestic brands were up 18%.
Excluding the effect of foreign exchange rates, total same-store retail revenue increased 8.4% versus the 8.5%. When you look at our revenue mix, it was U.S. 61%, and internationally 39%. Our brand mix shows consistent with last year with premium luxury generating about 68% of our revenue, volume foreign at 28% and the big three at 4%. We retailed 43,099 units in the quarter representing 11.5% increase compared to last year and our average transaction prices on new units increased 2% and our average gross profit per unit increased 7.9%. The good news is our gross margin on new vehicles was at 8.4%, a 50 basis point improvement over the first quarter of last year.