The PMI Group's CEO Discusses Q2 2011 Results - Earnings Call Transcript
Executives
Bill Horning – VP, IR
Stephen Smith – Chairman, President, CEO and COO
Donald Lofe – EVP, Chief Financial & Administration Officer
David Katkov – Chief Business Officer and EVP
Analysts
Mark DeVries – Barclays Capital, Inc.
Scott Frost – Bank of America Merrill Lynch
John Benda – Susquehanna Financial Group LLP
Chris Gamaitoni – Compass Point Research & Trading LLC
Josh Kramer – JPMorgan Securities
Steve Stelmach – FBR Capital Markets
Ed Groshans – Height Analytics LLC
The PMI Group, Inc. ( PMI ) Q2 2011 Earnings Call August 4, 2011 12:00 PM ET
Operator
Hello, and welcome to the Second Quarter 2011 Financial Results Conference Call for the PMI Group. At this time all the participants are in a listen-only-mode. Following the presentation, we will conduct a question-and-answer session. (Operator Instructions). Today’s call is being recorded. If you have any objections, you may disconnect at this time.
Now, I will turn the meeting over to Mr. Bill Horning, Vice President, Investor Relations. Sir, you may begin.
Bill Horning
Thank you, operator. Good morning and welcome to the PMI Group’s second quarter 2011 financial results conference call. Today’s call will begin with comments from Steve Smith, PMI’s Chairman and Chief Executive Officer. Mr. Smith will discuss PMI’s overall financial results and other matters for the second quarter. After the prepared remarks, Steve Smith along with Don Lofe, PMI’s Executive Vice President, Chief Financial Officer and Chief Administrative Officer, and David Katkov, PMI’s Executive Vice President and Chief Business Officer, will be available to answer your questions.
On today’s call, we will be referencing non-generally accepted accounting principal measures such as net operating income, which under SEC Regulation G we are required to reconcile with GAAP. The reconciliations of these measures with GAAP financial measures are available on our website.
Before we begin, I would like to review the company’s Safe Harbor statement under the Private Securities Litigation Reform Act of 1995. During this call, we may be making forward-looking statements. Actual results may differ materially from the statements made during this call. The company’s business depends on investment considerations, which are highlighted in our Securities and Exchange Commission filings including our 2010 Form 10-K.
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