Operator: Greetings and welcome to the Greif Incorporated Second Quarter 2013 Earnings Conference Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder this conference is being recorded.
It is now my pleasure to introduce your host Debra Strohmaier, VP, Corporate Communication for Greif Inc. Thank you Ms. Strohmaier, you may begin.
Deb Strohmaier - VP, Corporate Communications: Thank you and good morning. As a reminder, you may follow this presentation on the web at Greif.com in the Investor Center under Conference Calls. If you don't already have the earnings release, it is also available on our website. We are on Slide 2.
The information provided during this morning's call contains forward-looking statement. Actual results or outcomes may differ materially from those that may be expressed or implied. Some factors that could cause the results or outcomes to differ are on Slide 2 of this presentation, in the Company's 2012 Form 10-K, and in other company's SEC filings as well as Company earnings news releases.
This presentation uses certain non-GAAP financial measures, including those that exclude special items, such as restructuring and other unusual charges and EBITDA. EBITDA is defined as net income, plus interest expense net, plus income tax expense, less equity earnings of unconsolidated subsidiaries, net of tax plus depreciation, depletion and amortization expense.
Management of the company uses the non-GAAP measures to evaluate ongoing operations and believe that these non-GAAP measures are useful to enable investors to perform meaningful comparison of current and historical performance of the Company. All non-GAAP data in the presentation are indicated by footnotes. Tables showing the reconciliation between GAAP and non-GAAP measures are available at the end of this presentation and in the second quarter 2013 earnings release.
Giving prepared remarks today are in order of speaking, Senior Vice President and CFO, Rob McNutt; and President and CEO, David Fischer. I will now turn the call over to Rob.
Robert M. McNutt - SVP and CFO: Thank you, Deb. Thank you for joining us this morning. I am now Slide 3. Our second quarter results were modestly higher than the same period last year and cash from operations was $108 million. Factors that impacted our performance included volumes that were modestly higher overall, lower raw material cost, and lower restructuring charges compared to the same period last year. Our Paper Packaging business achieved record net sales for the quarter and record second quarter operating profit.
Please turn to Slide 4. The second quarter improvement in operating cash flow increased the year-to-date amount to $39 million and keeps us on track to achieve one of our key fiscal 2013 objectives. To put this in perspective, in four of the past five years, our results for the first half of the fiscal year represented cash used in operations of between $13 million and $56 million. The only exception during this period was last year, when we were implementing processes to improve working capital management. We're encouraged by the operating cash flow for the year-to-date period and look forward to further progress during the second half of the fiscal year.