Operator: Thank you for holding, and welcome to the Taubman Centers First Quarter 2013 Earnings Conference. The call will begin with prepared remarks and then we will open the lines to questions. On the call today will be Robert Taubman, Taubman Centers' Chairman, President and Chief Executive Officer; Lisa Payne, Vice Chairman and Chief Financial Officer, and Barbara Baker, Vice President Corporate Affairs and Investor Relations.
Now, I will turn the call over to Barbara for opening remarks.
Barbara Baker - VP, IR: Thank you, operator, and welcome everyone to our first quarter conference call. Yesterday we released our first quarter and year end results and our supplemental information package. Both are available on our website www.taubman.com.
As you know, during this conference call, we'll be making forward-looking statements within the meaning of the Federal Securities laws. These statements reflect our current views with respect to future events and financial performance, although actual results may differ materially. Please see our SEC filings, including our latest Form 10-K and subsequent reports for a discussion of the various risks and uncertainties underlying our forward-looking statements.
During this call we'll also discuss non-GAAP financial measures as defined by SEC Regulation G. Reconciliations of these non-GAAP financial measures to the comparable GAAP financial measures, are included in our earnings release and in our supplemental information.
In addition, a replay of the call is provided through a link on the Investor Relations section of the website. When we get to questions, we ask that you limit them to two and then if you have more, queue up again. That way everyone will have the opportunity to ask a question.
Now, let me turn the call over to Bobby.
Robert S. Taubman - Chairman, President and CEO: Thanks Barbara. And thank you everyone for joining us this morning. We are pleased to once again announce strong results. Funds from operations up 20% NOI excluding lease cancellation income up 5% and we also increased our regular quarterly dividend to $0.50 per common share an increase of 8.1%. Since we went public in 1992, we've never reduced our common dividend and this was the 16th time it's been increased, and it's averaged a 4.2% compounded increased over those 20 years.
Sales in our centers were solid. Our trailing 12 month tenant sales per square foot are now up to $698. This represents an increase of nearly 6% for the 12 months ending March 31, 2012. Similarly, sales per square foot were up 5.6% in the quarter. We think 5.6% is a great number. This is not only an acceleration in sales over the fourth quarter of last year when our increase was 3.5%, it is also way ahead of anybody's inflation number, and sales in the quarter were strong across the board. In fact we saw growth in 22 of our 23 merchandise categories; men's and women's specialty and men's and women's shoes were strong as were electronics and home furnishings as they have been for a while. Retailers did shine this quarter included aerie, Abercrombie Kids, Express, Champs Sports, Foot Locker, Forever 21, Banana Republic, Gap, J.Jill, Bath & Body Works, Victoria's Secret, Pacific Sunwear, Brooks Brothers and Talbots. In home furnishings, Z Gallerie was up considerably. Restoration Hardware had another phenomenal quarter.