Earnings Call Excerpt
Yum! Brands, Inc. (YUM)
Q1 2006 Earnings Conference Call
April 25, 2006, 9:15 a.m. EST
Executives
David C. Novak - Chairman, Chief Executive Officer and President
Richard T. Carucci - Chief Financial Officer
Tim Jerzyk - Vice President, Investor Relations
Analysts
John Glass - CIBC
Larry Miller - Prudential
Rachel Rothman - Merrill Lynch
Peter Oakes - Piper Jaffray
Jeffery Bernstein - Lehman Brothers
David Palmer - UBS
Stephen Kron - Goldman Sachs
Andy Barish - Banc of America Securities
Joe Buckley - Bear Stearns
Presentation
Operator
Good morning. My name is Marvin and I will be your conference operator today. At this time, I would like to welcome everyone to the Yum! Brands First Quarter Earnings Conference Call. (Operator Instructions) Mr. Jerzyk, you may begin your conference.
Tim Jerzyk
Thank you, Marvin, and good morning, everyone, and thanks for joining us. This call is being recorded and will be available for playback. We are broadcasting the conference call via our website at www.yum.com. Please be advised that if you ask a question, it will be included in both our live conference and in any future use of the recording. I would also like to advise that this conference call includes forward-looking statements that reflect management’s expectations based on currently available data. However, actual results are subject to future events and uncertainties. The information in this conference call related to projections or other forward-looking statements may be relied on subject to the safe harbor statement included in our earnings release and may continue to be used while this call remains in the active portion of the company’s website, again at www.yum.com. This will be until 5:00 p.m. Eastern time, Friday, May 5, 2006.
Before we get going, I’d like to make one announcement. We do have coming up later this year a Yum! China investor conference. It’s scheduled for September 7th and 8th, 2006. Yum! team will host the second China investor conference in Shanghai, China. Our investors and analysts are invited to attend this two-day meeting with our young China management team. Attendees will visit local KFC, Pizza Hut and East Dawning restaurants, as well as the Shanghai distribution centre.
The second day, we will go to Tier 3 and Tier 4 cities, so you will have the opportunity to fully understand what our brands are doing outside the really big cities in China. Please contact Yum! Investor Relations at 888-298-6986, and mention that you want to confirm that you will plan to attend this event. We need to hear from you as soon as possible to complete the details for this unique opportunity.
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