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Original Source: FD (FAIR DISCLOSURE) WIRE
OPERATOR: Welcome to the Palomar Medical Technologies conference call. Please be aware that each of your lines is in a listen-only mode. At the conclusion of Palomar's presentation, we will open the floor for questions. At that time, instructions will be given after the procedure to follow if you would like to ask a question. I would now like to turn the conference over to Kayla Castle, Investor Relations Manager of Palomar. Ms. Castle, you may begin.
KAYLA CASTLE, IR MANAGER, PALOMAR MEDICAL TECHNOLOGIES: Thank you. Good morning and welcome to the Palomar Medical Technologies conference call. Before we start this morning's call, there are a couple of items we would like to cover. This conference call is on a recorded line and you may access a telephone replay of the call at 888-286-8010, passcode 68395114 or a webcast replay at Palomar's website, www.palomarmedical.com through Monday, June 19.
The summary description of the event is qualified in its entirety by reference to the settlement agreement and the license agreement, both of which are also filed as exhibits 99.1 and 99.2 to this current report on form 8-K. Various remarks that we may make about future expectations, plans and prospects for the Company constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those indicated by these forward-looking statements as a result of various import factors, including those discussed in the Form 10-K for the year ended December 31, 2005 and the Company's quarterly reports on Form 10-Q, which are on file with the SEC and available to Palomar's website.
The information in this conference call related to projections or other forward-looking statements may be relied upon subject to the previous Safe Harbor statement as of the date of this call. The information in this conference call is the property of Palomar and should not be reproduced, recorded or otherwise published without the express prior written consent of the Company.
Joining us this morning are Dan Valente, Chairman; Joe Caruso, President and Chief Executive Officer; Paul Weiner, Chief Financial Officer and Patty Davis, General Counsel. I would now like to turn the call over to Dan.
DAN VALENTE, CHAIRMAN, PALOMAR MEDICAL TECHNOLOGIES: Thank you, Kayla. I hope you all have had a chance to review the press release issued this morning regarding our settlement with Cutera. This is an outright win for Palomar. We have always believed in the strength of our intellectual property and our superior technology. We are fortunate to serve a very robust market with our technology providing the best solutions for cosmetic treatments.
We will now hear from Joe Caruso, our Chief Executive Officer; Paul Weiner, our Chief Financial Officer and Patty Davis, our General Counsel. They will discuss the details regarding the settlement. Now let's hear from Joe.
JOE CARUSO, PRESIDENT & CEO, PALOMAR MEDICAL TECHNOLOGIES: Thank you, Dan and good morning. We are extremely pleased with the outcome of our litigation with Cutera. As we have said many times in the past, this lawsuit was a test case of the strength and breadth of our patents to determine their impact on our industry.
Over the past four years, the court has validated our legal position in a number of important ways. First, through the Markman Hearing in which the judge reviews the actual words in the claims. The court maintained the …