Thanks, Terry.

Thanks, Steve.

Thank you, Terry. DexCom finished the year strong generating product revenues of approximately $2.45 million during the fourth quarter of 2008 compared to $1.5 million for the same quarter in 2007. Product revenues totaled $8.1 million for the year ended 2008 compared to $4.6 million in 2007. Sequentially product revenue increased $588,000 from Q3 to Q4 of 2008. During Q4, we sold approximately 1,200 SEVEN System Starter kits compared to 770 in Q3. From 2007 to 2008 Sensor revenues were up 105%. Sequentially Sensor revenues were up 25% from Q3 to Q4 of 2008. Total revenue for 2008 was $9.8 million, which included $1.7 million in development grant revenue. As we have discussed previously, DexCom entered into three separate development agreements during 2008, which included Insulet Corporation, Animas Corporation, and Edwards Lifesciences. Animas and Edwards made upfront payments towards development dollars of $13.5 million in 2008. Excluding milestone payments, Edwards is scheduled to make additional development payments of approximately $10.5 million through Q2 of 2010 and Animas made a $250,000 payment in Q1 of 2009. With these up front and development payments we expect to recognize development grant revenue on a straight-line basis over the period of the expected performance obligation. Changes in estimates could impact amounts recognized in future periods. Based on our current estimates, we expect to recognize development grant revenue under these arrangements of $2.8 million per quarter through Q4 of 2010. This quarterly estimate excludes any milestone-based payments that we may also earn. Cost of sales including product and non-product in 2008 totaled $15.4 million compared to $12.7 million in 2007. Product cost of sales totaled $13.4 million for the year ended 2008 compared to $12.7 million in 2007. Our product gross margin loss was $5.3 million in 2008 compared to $8.1 million in 2007. We…

Thanks Jess. Obviously, we were extremely pleased with our performance in the fourth quarter of 2008 and the year, especially in terms of total product revenue, new patient adds and sensor sales. Highlighting some key performance metrics for Q4, '08, total product revenue grew approximately 31% sequentially from Q3 to Q4. As Jess mentioned, we sold approximately 1200 starter kits for the SEVEN System in the fourth quarter amounting to about a 55% increase in sales kits compared to Q3. We were pleased to see an increase of approximately 25% in Sensor revenues quarter to quarter, which we believe bodes well for the long-term prospects of our business. As we look to 2009, we continue to see tremendous progress on the reimbursement front, both in terms of the adoption of new coverage policies for CGM and the establishment of contracts with payers to cover our products. In early January, UnitedHealthcare adopted a positive coverage policy for CGM. As you know, United was the last of the national payers to issue a policy and in doing so, United established the most comprehensive coverage to date. United policy should make access to CGM available to all of UnitedHealthcare's Type 1 patients with an A1c greater than 7% as well as those patients with an A1c of less than 7% who have experienced hypoglycemic unawareness. Just last week we entered into a contract with CareCentrix to become a provider of specialty diabetic durable medical equipment. CareCentrix is a provider of ancillary care benefit management services for major managed care organizations and has a national contract to coordinate the provision of diabetic DME to Cigna Healthcare members. This means we have the ability to process claims in-house for the nearly 12 million covered lives under the Cigna umbrella of affiliated companies. We now have…

Matthew O’Brien – William Blair:

Matthew O’Brien – William Blair:

Matthew O’Brien – William Blair:

Matthew O’Brien – William Blair:

Matthew O’Brien – William Blair:

Thom Gunderson – Piper Jaffray:

The first question with regard to the SEVEN Plus, Tom, we will introduce that shortly in terms of everything that's being shipped out of here from this point forward is a SEVEN Plus system. There is an upgrade program that will allow, at least from a sophomore standpoint, in terms of the attributes of it, a backward compatible download. We are FDA approved for a web enabled download system, so patients will be able to utilize that. There will be a requirement for a new transmitter. This transmitter has got some new attributes to it that will allow it to expand its communication to a wide variety of products beyond what it does today to our receiver such as other pumps, as an example. But that program will be spelled out shortly as to the upgrade. It is premium priced over the existing SEVEN system, although not dramatically so. But those prices are being put into place now.As far as Europe, we did ship a small amount of product into Sweden and Finland. And we are continuing – we just got back from a European meeting last week and met with a number of distributors. We are beginning to sign those contracts. And yes, we are CE marked for the SEVEN system and we will begin to expand that out as we roll out the rest of the year. We are going about it in a very diligent way. It is not going to be a very large effort this year as we begin to structure things appropriately. Thom Gunderson – Piper Jaffray:

Bill Plovanic – Canaccord Adams:

Bill Plovanic – Canaccord Adams:

Bill Plovanic – Canaccord Adams:

Bill Plovanic – Canaccord Adams:

No, we are not beefing up the distribution model. What we really expect to do quite frankly is as we leverage our relationship with our pump partners that that distribution will be able to, at least from a field standpoint, in terms of contact with customers that we currently don't call on, we will be able to leverage our partner relationships from that standpoint. Bill Plovanic – Canaccord Adams:

Raj Kalia – Sanders Morris and Harris:

Raj Kalia – Sanders Morris and Harris:

I don't think I said the SEVEN Plus is optimal. I think what – and I will take this portion and then get back to the first part. I think my comment had to do with the key metrics that are demanded by physicians and patients in that there is a factor to the product that simplistic the performance and convenience of utilization of it make it optimal or what I would consider maybe another better statement, is best in category, from that standpoint, meeting all the attributes that are demanded by the constituents. With regards to accuracy, there is more data capture. There is less lost data, so from a new algorithm development, in all of these CGM categories, you will lose data at times. It's basically once you turn a signal on or a transmitter on, it is constantly transmitting data. If for some reason the data is noisy, for biological reasons, then there will be data lost in terms of the capture. Raj Kalia – Sanders Morris and Harris:

We really don't, Raj. At this point we are still trying to get the systems in place to measure this. But one of the confounding portions of this, as an example, during that same time frame, a patient may enter into the system as a cash patient. So, let’s go back a year. A year ago, there were no – at this time, there were no coverage decisions by any national payers. So if they entered into the system under a cash pay, they would typically be buying one box. Now in that next period of time, four months, six months, eight months, they move from cash pay to a reimbursement. They now may receive up to three boxes of sensors. And so there is no baseline by which to measure because that baseline keeps shifting on us as the contracts get into place. So that's why I'm saying the metric – and quite frankly, we are not spending a huge amount of time and drill down and track that directly. Raj Kalia – Sanders Morris and Harris:

Raj Kalia – Sanders Morris and Harris: Okay. Gentlemen, thank you very much.

Shawn Fitz – Stephens Incorporated:

Shawn Fitz – Stephens Incorporated:

Shawn Fitz – Stephens Incorporated:

Shawn Fitz – Stephens Incorporated:

Shawn Fitz – Stephens Incorporated:

That concludes today's conference. Have a pleasant day.