Operator: Good morning, and welcome to the Second Quarter 2013 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Please refrain from entering into the queue until those instructions are given.
This conference call is being recorded today, March 25, 2013, and may not be reproduced in whole or in part without permission from the Company. There will be a replay of this call available through April 12, 2013 beginning approximately two hours after we conclude today. The replay number is 855-859-2056 or 404-537-3406 internationally. The conference ID for the replay is 12434663.
I would now like to turn the call over to Beth Coronelli, Vice President of Investor Relations. Mrs. Coronelli, go ahead please.
Beth Coronelli - VP, IR: Thank you for joining us today to discuss our second quarter results. Participating on the call are Greg Cappelli, Chief Executive Officer of Apollo Group and Brian Swartz, Senior Vice President and Chief Financial Officer. Greg will update you on our initiatives and strategy and Brian will discuss the second quarter financials and outlook. Joe D'Amico is also here and will be available during the Q&A portion of the call.
As we discuss our results today, unless noted otherwise, we will be comparing the second quarter of fiscal 2013, which ended February 28, 2013 to the second quarter of fiscal 2012. I'd also like to remind you that this conference call may contain forward-looking statements with respect to future performance, financial condition, regulatory compliance and other matters regarding the business of Apollo Group and its subsidiaries that involve risks and uncertainties.
Various factors could cause actual results of the Company to be materially different from any future results expressed or implied by such forward-looking statements. These factors are discussed under Risk Factors and elsewhere in the Company's most recent 10-K and subsequent 10-Q reports filed with the SEC and available on our website at www.apollo.edu. The Company disclaims any obligation to update any forward-looking statements made during the call.
Additionally, during the call we may refer to non-GAAP financial measures, which are intended to supplement but not substitute for the most directly comparable GAAP measures. Our press release, which contains the financial and other quantitative information to be discussed today as well as the reconciliation of GAAP to non-GAAP measures is available on our website.
With that, I will turn the call over to Greg.
Gregory W. Cappelli - Director, CEO, Apollo Group, Inc.; Chairman, Apollo Global, Inc.: All right. Thank you, Beth. Good morning, everyone. This continues to be an extraordinary period within the higher education sector. It’s the time really of unprecedented change, driven by new workforce demands, technological innovations, and economic, political and competitive dynamics.
Individuals are evaluating their opportunities to gain appropriate skills necessary to compete in the global economy. For decades, many colleges and universities including our own offered one primary way to do this, through a full degree-granting program.