O'Reilly Automotive Inc ORLY
Q1 2012 Earnings Call Transcript

Transcript Call Date 04/26/2012

Operator: Good morning. My name is Shonda, and I'll be your conference operator today. At this time, I would like to welcome everyone to the O'Reilly Auto Parts First 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 will now like to turn the call over to Mr. Tom McFall. You may begin your conference.

Thomas G. McFall - EVP of Finance and CFO: Thank you, Shonda. Good morning, everyone, and welcome to our conference call. Before I introduce Greg Henslee, our CEO, we have a brief statement.

The Company claims the protection of the Safe Harbor for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by forward-looking words such as expect, believe, anticipate, should, plan, intend, estimate, project, will, or similar words.

In addition, statements contained within this press release that are not historical facts are forward-looking statements, such as statements discussing among other things, expected growth, store development, integration and expansion strategy, business strategies, future revenue and future performance. These forward-looking statements are based on estimates, projections, beliefs, and assumptions that are not guarantees of future events and results.

Such statements are subject to risks, uncertainties, and assumptions, including, but not limited to, competition, product demand, the market for auto parts, the economy in general, inflation, consumer debt levels, governmental regulations, the Company's increased debt levels, credit ratings on the company's public debt, the Company's ability to hire and retain qualified employees, risks associated with the performance of acquired businesses, such as CSK, weather, terrorist activities, war, and the threat of war. Actual results may materially differ from anticipated results described or implied in these forward-looking statements. Please refer to the Risk Factors' section of the Annual Report on Form 10-K for the year ended December 31, 2011, for additional factors that could materially affect the Company's financial performance. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

At this time, I'd like to introduce Greg Henslee.

Gregory L. Henslee - Co-President and CEO: Thanks, Tom. Good morning everyone and welcome to the O'Reilly Auto Parts first quarter conference call. Participating on the call with me this morning is, of course, Tom McFall, our Chief Financial Officer; and Ted Wise, our Chief Operating Officer. David O'Reilly, our Executive Chairman is also present.

It's my pleasure to again congratulate Team O'Reilly on another outstanding performance in the first quarter and to the great start we're off to in 2012. The 7.4% comparable store sales increase we achieved on top of the 5.7% increase we generated in the first quarter of 2011 was a significant accomplishment, and we should all be very, very proud of our Company's performance.

Read our Earnings Call Transcript disclaimer.
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