Operator: Good morning and welcome to the Alliance Data Third Quarter 2013 Earnings Conference Call. At this time, all parties have been placed on listen-only mode. Following today's presentation, the floor will be opened for your questions. In order to view the Company's presentation on their website please remember to turn off the pop-up blocker on your computer.
It is now my pleasure to introduce your host Mr. Michael Cummings of FTI Consulting. Sir, the floor is yours.
Michael Cummings - FTI Consulting: Thank you, Chris. Good morning everyone and thanks for joining the call today. By now you should have received a copy of the Company's third quarter 2013 earnings release. If you haven't, please visit www.alliancedata.com, or call 212-850-5721. On the call today we have Ed Heffernan, President and Chief Executive Officer; Charles Horn, Chief Financial Officer; and Melisa Miller, Executive Vice President and President of Alliance Data Retail Services.
Before we begin, I would like to remind you that some of the comments made on today's call and some of the responses to your questions may contain forward-looking statements. These statements are subject to the risks and the uncertainties described in the Company's earnings release and other financial filings with the SEC. Alliance Data also has no obligation to update the information presented on the call.
Also on today's call, our speakers will reference certain non-GAAP financial measures, which we believe will provide useful information for investors. Reconciliations of those measures to GAAP will be posted on Alliance Data Investor Relations website.
With that, I'd like to turn the call over to Ed Heffernan. Ed?
Edward J. Heffernan - President and CEO: Great. Thanks, Michael, and I would like to say welcome to our 50th earnings call, which are 50 quarters since going public. I've had the privilege of being on all 50 and look forward to many, many more to come. So welcome. Joining me today is the always energetic Charles Horn, our CFO; and Melisa Miller, our EVP and President of ADS Card Group. Charles will discuss consolidated LoyaltyOne and Epsilon results, Melisa will go through the card results, and I'll wrap up discussing our revised guidance, our outlook, and our first cut at '14. Charles?
Charles Horn - EVP and CFO: Thanks, Ed. It was another terrific quarter for Alliance Data with the revenue increasing 20% to $1.1 billion, bolstered by 9% organic growth. EPS and core EPS increased 9% and 13%, respectively, damped slightly by higher share count. Core EPS beat guidance by $0.07 for the third quarter.
Adjusted EBITDA net of funding cost increased 14% to $328 million, driven by double-digit growth at Private Label and Epsilon. Excluding the effects of unfavorable FX rates, LoyaltyOne also had a solid quarter with adjusted EBITDA up 8% versus last year.
Diluted share count increased by 1 million shares to 66 million for Q3 2013 due to incremental dilution from convertible notes. This trend of increasing share count should be over with the maturity of the first tranche of convertible notes in August of this year.