Operator Welcome to Lennar's first quarter earnings conference call. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question-and-answer session.

Welcome to Lennar's First Quarter Earnings Conference Call ... over to David Collins for the reading of the forward-looking statements. Thank you, and good morning, everyone.

Before we proceed, I'd like to direct your attention to the Safe Harbor statement in our earnings release ... Our global strategy go beyond the simple open stores and the selling products.

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