Gordon Clemons – Chairman and Chief Executive Officer.

Thank you for standing by. Welcome to the CorVel Corporation Earnings Release Conference Call. During the course of this conference call, CorVel Corporation may make projections and other forward-looking statements regarding future events or of the future financial performances of the Company.

CorVel wishes to caution you that these statements are only predictions and that our 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 Form 10-Q filed 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 will now like to turn the conference over to your host Mr. Gordon Clemons. Sir, please go ahead..

in the move from PCs to mobile, CorVel real time tools for claims intake continued to be an area where we believe improvements can be made. This last holiday season witnessed what summer calling a watershed moment in the growing use of smartphone based transaction processing.

We believe the same trend will impact healthcare and continue our investments in such applications. Tablets and smartphones for our nurse case managers are adding value to our case management and claims services. Our efforts in this area are now focused on improving the effectiveness of earlier release.

At the same time I expect the introduction of laptops that share the best features of tablets while allowing users to employ the best of PC based software. The movement of our onsite applications to cloud applications or in this case CorVel's private cloud continues.

In the quarter, we worked on improving the usability of CareMC, CorVel's private cloud and the reporting provided there. Data analytics continues to expand the CorVel improving the power of analytics tools available in CareMC has been a focus.

Analytics continue to assist us with internal metrics that can help us manage our enterprise and the quality of our services. Now I'd like to speak to a few additional figures regarding the quarter. The quarter ending cash balance was $33 million. Our day sales outstanding was 42 days.

106,000 shares were repurchased in the quarter and a 1,066,000 shares have been repurchased over the last year. This reduced the shares outstanding by 5% year-over-year. We have now returned $325 million to shareholders in the last 16 years.

Shares outstanding at the end of the quarter were 20,938,000 and diluted EPS shares were 21,256,000 for the quarter. I'd now like to turn the call back over to our operator for the question-and-answer period. Thank you..

Thank you. Ladies and gentlemen, we will now begin the question-and-answer session. (Operator Instructions) And I am showing – we have no questions, Mr.

Clemons, do you have any further comments?.

Yes. Thank you. I did want to correct one comment I made during the text, I referred to our pretax margins as 12.3%, I think in the quarter, they are actually 12.0%. So, I just wanted to make that one additional comment and otherwise to thank everyone for joining us today. We look forward to talking to you again after the March quarter. Thank you..

And this does conclude today’s conference, you may now disconnect..