ITC Holdings Corp ITC
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/28/2013

Operator: Good day, ladies and gentlemen, and welcome to the ITC Holdings Corp. Fourth Quarter Conference Call and Webcast. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. As a reminder, today's conference call is being recorded.

I'd now like to turn the conference over to your host Ms. Gretchen Holloway. Please go ahead.

Gretchen Holloway - IR: Good morning everyone, and thank you for joining us for ITC's 2012 fourth quarter and yearend earnings conference call. Joining me on today's call are Joseph Welch, Chairman, President and CEO of ITC, and Cameron Bready, our Executive Vice President and CFO.

Last night we issued a press release summarizing our results for the fourth quarter and for the year ended December 31, 2012. We expect to file our Form 10-K with the Securities and Exchange Commission tomorrow.

Before we begin, I would like to make everyone aware of the cautionary language contained in the Safe Harbor statement.

Certain statements made during today's call that are not historical facts, such as those regarding our future plans, objectives and expected performance reflect forward-looking statements under Federal Securities Laws. While we believe these statements are reasonable, they are subject to various risks and uncertainties and actual results may differ materially from our projections and expectations.

These risks and uncertainties are discussed in our reports filed with the SEC, such as our periodic reports on Forms 10-Q and 10-K and our other SEC filings. You should consider these risk factors when evaluating our forward-looking statements. Our forward-looking statements represent our outlook only as of today and we disclaim any obligation to update these statements, except as maybe required by law. A reconciliation of the non-GAAP financial measures discussed on today's call is available on our Investor Relations page of our website.

In addition, ITC filed a registration statement on Form S-4 with the SEC to register shares of ITC common stock to be issued to shareholders of Entergy Corporation in connection with the proposed transaction with Entergy Corporation previously announced on December 5, 2011.

This registration statement which was declared effective by the SEC on February 25, 2013 includes the proxy statement of ITC that also constitutes a perspective of ITC. The joint proxy statement and perspectives will be mailed to ITC shareholders on or about February 28, 2013.

Investors are encouraged to read the joint proxy statement and perspective in its entirety as well as any other relevant documents when they become publicly available. These documents contain important information about the proposed transaction. The joint proxy statement and perspectives and other documents relating to a proposed transaction can be obtained free of charge from the SEC website at when they are available.

The joint proxy statement and perspectives and the filings with the SEC that will be incorporated by reference in the joint proxy statement and perspectives can also be obtained free of charge upon written request to ITC or Entergy.

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