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The following webcasts contain forward-looking statements relating to future events or future financial performance of the Company that involve risks and uncertainties. Actual results may differ materially from those anticipated in these statements based on a number of factors, including those identified in the company's annual report on Form 10-K filed with the SEC on February 7, 2011. These presentations may also contain references to non-GAAP financial measures. A presentation of and reconciliation to the most directly comparable GAAP financial measure, where such can be done without unreasonable effort, can be found on our Web site at http://ir.shutterfly.com. The forward looking statements are made as of the date of broadcast and the Company undertakes no obligation to update such forward-looking statements.

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