Earnings Call Excerpt
Family Dollar Stores (FDO)
Q2 2006 Earnings Conference Call
March 23rd 2006, 10:00 AM
Executives:
Kiley Rawlins, Divisional Vice President, Investor Relations and Communications
Howard Levine, Chairman and CEO
James Kelly, Vice Chairman and Chief Financial and Administrative Officer
Janet Kelley, Senior Vice President and General Counsel
Analysts:
Charmaine Tang, Citigroup
Dan Weaver, Raymond James
Mitchell Kaiser, Piper Jaffray
Christine Augustine, Bear Stearns
Meredith Adler, Lehman Brothers
Stacy Turnof, Merrill Lynch
Jack Balif, Midwood Research
David Cumberland, Robert Baird
Michael Baker, Deutsche Bank
Jeff Stinson, FTN Midwest Research
John Zolidis, Buckingham Research Group
Michael Exstein, Credit Suisse First Boston
Mark Miller, William Blair
Presentation
Operator
Good morning ladies and gentlemen and welcome to the Family Dollar Second Quarter Earnings Conference Call. This call is being recorded by MCI and CCBN. If you have any objections, you may disconnect at this time. At this time, all participants are in a listen-only mode. After the prepared statement by the company, we will open the call for questions from the participants. And now I would like to turn the meeting over to Ms. Kiley Rawlins, Divisional Vice President, Investor Relations and Communications. Ms. Rawlins, you may begin.
Kiley Rawlins, Divisional Vice President, Investor Relations and Communications
Thank you Jesse. Good morning everyone and thank you for joining us today for our second quarter earnings conference call. With me this morning are Howard Levine, Chairman and CEO; and Jim Kelly, Vice Chairman and Chief Financial and Administrative Officer; and Janet Kelley, Senior Vice President and General Counsel.
Before we begin, you should know that our comments today will include forward-looking statements, which are made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act. These statements address company’s plans and activities or events, which we expect will or may occur in the future. However, a number of factors as set forth in our SEC filings and press releases could cause actual results to differ from our plans. We refer you to and specifically incorporate the cautionary statements contained in today’s press release and in our other SEC filings. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this call. The company does not undertake to publicly update or revive its forward-looking statements.
In addition, this morning we will discuss non-GAAP financial measures, which are intended to help investors understand Family Dollar’s ongoing business performance. These measures include operating expenses, net income, and earning per diluted share each excluding litigation charges. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is included in our earnings release issued this morning and available on our website in the News Releases section of our investor page. We’ll begin this discussion with some comments on the quarter’s financial results from Jim, and then Howard will share some of his thoughts with you. Jim?
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