Welcome to the CorVel Corporation Earnings Release Conference Call. During the course of this conference call, CorVel Corporation may make projections or other forward-looking statements regarding future events or the future financial performances of the company. CorVel wishes to caution you that these statements are only predictions and that the actual events or results may differ materially. CorVel refers you to the documents the company files from time to time with the Securities and Exchange Commission, specifically the company's last Form 10-K and 10-Q files for the most recent fiscal year and quarter. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. At this time, all participants are in a listen-only mode. A question-and-answer session will be conducted later in the call with instructions being given at that time. As a reminder, this conference call is being recorded. I would now like to turn the conference over to your host, Mr. Dan Starck and Mr. Gordon Clemons. Gentlemen, please go ahead.

I would like to thank everyone for joining us today to review and discuss the results of CorVel's September end 2010 quarter. I am joined by our Chairman, Gordon Clemons, and in our normal fashion, I'll be reviewing the financial results and key initiatives. Revenue for the September quarter was $93.4 million, an increase of 13% from the September 2009 quarter. Earnings per share, was $0.62 for the quarter an increase of 24% from the $0.50 reported in the September of 2009 quarter. The quarter's results were impacted by two nearly offsetting adjustments. In the September quarter the company accrued $2.8 million on a pre-tax basis for an estimated liability related to the to the Southern Illinois class action law suit that is being disclosed in the 10K and the 10Q for the past two years. This amount is included with the general administrative cost in the income statement. Additionally the company was able to resolve some outstanding state tax issues which resulted in a reduction to the income tax liability or buy $1.8 million and approximately offset the cost of law suit. We do not expect any future impact from either of these adjustments moving forward. Now back to the business, during the September quarter we continued the expansion of a strategic initiative Enterprise Comp by adding new customers in new geographies and our network solutions results continue to reflect growth in our pharmacy and directed care product lines. While case management results continue to improve. From a marketplace perspective, the labor market remains soft with anticipation of a long recovery. With softness in the labor market is contributed to keep claimed audience at historical lows, however claim costs continue to increase as medical inflation increases. The claim volume declined as having various effects on the industry. First to…

Thanks Dan. I'll cover the development issues for the quarter and results. As we've discussed in prior quarterly calls, CorVel has expanded the pace of product development this last year. The results of that expansion began to show in the September quarter as Dan referenced and will be more visible in software releases in subsequent quarters. The restructured development process implemented this year also included expanded resources for software planning and the defining of business needs which we believe is beginning to also help us with progress and development. In addition the pace of change in the computer industry continues and will continue over the planning horizon serving most of the high priority projects on which we are now working would not have been possible five years ago in the formats we can deploy them today. As we've passed evolutions in computing, it can feel awkward to move to the next new architecture and yet doing so inevitably orphans the organization stuck on legacy platforms. At CorVel we move from mini computing to data centers and onto co location facilities and now must contemplate cloud environments. A journey from command line interfaces, I'm not sure I like that phase. I might have called that a C prompt but anyway to Windows and mouse interfaces and on to the multi touch gesture interfaces -- lets call those touch screens has been an easier set of moves. At this point it is still a bit unclear how much computing is going to jump from the desktop to mobile devices. Dozens of people are spending real cash to buy the virtual farms that have to get your attention. If any of you are Farmville sharecroppers I think you can appreciate taking this stuff to claims processing creates some confusing days even for CorVel.…

Thank you Gordon. I'd just like to add a few more items prior to opening the call to questions. Quarter ending cash balance was $18.7 million and our DSO was 43 days. 164,000 were repurchased in the quarter and we spent $6.3 million in the cash. We had spent $230 million inception-to-date and we have repurchased 14.092 million shares inception-to-date. Our shares at the end of the quarter were 11.834 million and diluted EPS shares were 12.104 million. In closing the September quarter represents another solid quarter of improved results. The company has made particular strong advancements in both revenue growth performance and software delivery, helping to advance our strategic repositioning. We're very proud of the work that the CorVel team has already accomplished and we look forward to our future opportunities. I would now like to open the call for questions.

(Operator Instructions). There are no questions in queue at this time. Mr. Starck and Mr. Clemons, do you have any further comments?

Just a couple of closing comments, operator. First we'd just like to thank everyone that's joined us on the call today as well as those that will access the call either through the archive webcast or through a transcript of the call and we appreciate the continued support of CorVel and last comment for us in closing is we're all rooting for a pro business outcome to today's elections. So thank you and we'll talk to you next quarter.

Thank you. This does conclude our conference call for today. Thank you for your participation. Please disconnect at this time.