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Original Source: FD (FAIR DISCLOSURE) WIRE
OPERATOR: Good morning ladies and gentlemen and welcome to the Mobile Mini Incorporated guidance conference call. At this time actual all participants have been placed on a listen-only mode and the floor will be open for you questions following the presentation. It is now my pleasure to introduce our host Mr. Steven Bunger, Chairman, President and Chief Executive Officer. Sir, please proceed.
STEVEN BUNGER, CHAIRMAN, PRESIDENT, CEO, MOBILE MINI INC.: Thank you and good morning. I want to welcome everybody to Mobile Mini's guidance conference call. I am Steve Bunger, and with me is Larry Trachtenberg our Executive Vice President and CFO. I also want to apologize for the difficulties, I think there was some problems with the conference operator, but hope they were back up and going. We are not completely sure where we got cut off, so we are going to basically start over. So, what I am going to do is turn the call over to Larry, who is going to read the disclaimer out and the press release and then we go to a Q&A session after that. So, with that said, I am going to turn it over to Larry.
LARRY TRACHTENBERG, EXECUTIVE VP & CFO, MOBILE MINI INC.: Okay. Before, we get started, I read you our legal disclaimer. This conference call contains forward-looking statements particularly regarding our ability to continue to grow our existing markets and to expand to new markets. Our ability to finance our business and operating results and prospects for the remainder of the 2004 and beyond, which involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. It also contains preliminary information on our fourth quarter 2004 operating results that have not yet been audited and are subject to change. Risks and uncertainties that may affect future results include those that are described from time to time in the company's SEC filings. These forward-looking statements and the preliminary pro forma fourth quarter results represent the judgment of the company at this time and Mobile Mini disclaims any intent or obligation to update forward-looking statements, although obviously we will be updating the fourth quarter operating results when our audit is complete. With that said, Mobile Mini today reported that preliminary indications are that despite an increase in its internal growth rate and leasing revenue achieved during the fourth quarter, which was made possible in part by the first year-over-year quarterly increase in yield in several quarters.
Our pro forma results for the quarter are expected to fall short of analyst's estimates by a few cents per share. The major factors resulting from this earnings shortfall are increases in certain expenses, especially insurance expenses, property taxes and licensing fees. The pro forma …