Operator: Good afternoon and welcome to the Pitney Bowes Third Quarter 2012 Earnings Results Conference Call. Your lines have been placed in a listen-only mode during the conference call until the question-and-answer segment. Today's call is also being recorded. If you have any objections, please disconnect your lines at this time.
I would now like to introduce your speakers for today's conference call, Mr. Murray Martin, Chairman, President and Chief Executive Officer; Mr. Michael Monahan, Executive Vice President and Chief Financial Officer; and Mr. Charles McBride, Vice President, Investor Relations.
Mr. McBride, we will now begin the call with the Safe Harbor overview.
Charles F. McBride - VP, IR: Thank you. Included in this presentation are forward-looking statements about our expected future business and financial performance. Forward-looking statements involve risks and uncertainties that could cause actual results to be materially different from our projections.
More information about these risks and uncertainties can be found in our 2011 Form 10-K Annual Report and other reports filed with the SEC that are located on our website at www.pb.com and by clicking on Investor Relations. Please keep in mind that we do not undertake any obligation to update any forward-looking statements as a result of new information or developments.
Also for non-GAAP measures used in the press release or discussed in this presentation, you can find reconciliations to the appropriate GAAP measures in the tables attached to our press release and also on our Investor Relations website.
Additionally this quarter we have provided slides to summarize most of the points we will discuss during this call. These slides can also found on our Investor Relations website.
Now, our Chairman, President, and Chief Executive Officer, Murray Martin will start with an overview of the quarter. Murray?
Murray D. Martin - Chairman, President and CEO: Thanks, Charlie. Good afternoon, and thanks for joining us today. Before we start, I'd like to express our concerns and best wishes for all of those who were impacted by Hurricane Sandy. I want to make a special note of appreciation to our employees who supported other employees, customers and our operations during this period of disruption. I'm happy to report that our employees in the impacted areas escaped injury and all of our facilities are now operational. In the third quarter, we continued to move forward on meeting our customer's needs by delivering innovative solutions and focusing on higher growth markets.
Before we discuss the results for the quarter, let me share with you some thoughts on where Pitney Bowes stands today, where it has been, where it is headed. We believe we're going through a critical period in the history of our company and our industry. Many of you, who know our story, understand that a shift has been underway for some time. So let me review what we've done and intend to continue doing to meet that shift head on.
We recognized that we needed to take a long-term view, specifically with investments towards higher growth opportunities to be more optimally positioned for the future. Over the last several years, we took actions to mitigate the impact of the global economy and evolving customer needs, and we focused on improving operations, increasing productivity and reducing costs and providing more opportunity for innovation.