Earnings Call Excerpt
AK Steel (AKS)
Q2 2009 Earnings Call
July 21, 2009 11:00 am ET
Executives
Albert E. Ferrara, Jr. – VP of Finance and CFO
James L. Wainscott – Chairman, President and CEO
Analysts
Brett Levy – Jefferies & Company
Michael Gambardella – JP Morgan
Mark Parr – KeyBanc Capital Markets
Sal Tharani – Goldman Sachs
Michelle Applebaum - Michelle Applebaum Research
Timna Tanners – UBS
Evan Kurtz – Morgan Stanley
Dave Martin – Deutsche Bank
John Sullivan – Citi
Luke Folta – Longbow Research
Kuni Chen – Merrill Lynch
Presentation
Operator
Good morning, ladies and gentlemen, and welcome to the AK Steel second quarter 2009 earnings conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. (Operator instructions) As a reminder, this conference call is being recorded.
With us today are Mr. James L. Wainscott, Chairman, President and Chief Executive Officer of AK Steel, and Mr. Albert E. Ferrara Jr., Vice President of Finance and Chief Financial Officer. At this time, I would like to turn the conference call over to Mr. Ferrara. Please go ahead, sir.
Albert E. Ferrara, Jr.
Thank you Patty and good morning, everyone. Welcome to AK Steel’s 2nd quarter 2009 conference call and webcast. In a moment I’ll review our 2nd quarter financial results as well as provide some guidance for the third quarter of 2009. Following my remarks, Jim Wainscott, our Chairman, President and Chief Executive Officer will offer his comments and field your questions.
Today’s call includes certain forward-looking guidance. Other than our comments on historic results, the remarks we make today constitute forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934. These statements include our expectations as to our future shipments, product mix, prices, costs, operating profit and liquidity. While we believe that our expectations are reasonable, we cannot assure you that they will prove to have been correct, since they are based on assumptions and estimates that are inherently subject to risks. Such risks include economic, competitive and operational risks, uncertainties and contingencies, all of which are beyond our control and based upon assumptions with respect to future business decisions that are subject to change. Except as required by law, the company disclaims any obligation to update any forward-looking statements to reflect future developments or events. For more detailed information, we encourage you to review the discussion or risks affecting forward-looking statements, found in our annual report on form 10-K for the year ended December 31, 2008 as updated in our most recent quarterly report on form 10Q. To the extent that we refer to material information that includes non-GAAP financial measures, the reconciliation information required by regulation G is available on the company’s website AKSteel.com.
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