Good day, ladies and gentlemen, and welcome to the Q3 2013 Lifetime Brands Earnings Call. My name is Tracy and I will be your operator for today. [Operator Instructions] As a reminder, this call is being recorded for replay purposes. And now I'd like to turn the call over to Harriet Fried of LHA. Please proceed, ma'am.

Good morning, everyone, and thank you for joining Lifetime Brands conference call. With us today from management is Jeff Siegel, Chairman and Chief Executive Officer. Before we begin, I'll read the Safe Harbor statement under the Private Securities Litigation Reform Act of 1995. The statements that are about to be made in this conference call that are not historical facts are forward-looking statements and involve risks and uncertainties, including the company’s ability to comply with requirements of its credit agreement, the availability of funding under those credit agreements, the company’s ability to maintain adequate liquidity and financing sources and an appropriate level of debt, changes in general economic conditions which could affect customer payment practices or consumer spending, changes in demand for the company’s products, shortages of and price volatility for certain commodities, the effect of competition on the company’s market and other risks detailed in Lifetime’s filing with the Securities and Exchange Commission. The company undertakes no obligation to update these forward-looking statements. The company’s earnings release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the SEC. Included in this morning’s release is a reconciliation of these non-GAAP financial measures to the comparable financial measures calculated in accordance with GAAP. With that introduction, I would like to turn the call over to Mr. Siegel. Please go ahead, Jeff.

Thanks, Harriet. Good morning, and thank you for joining us to discuss our third quarter results. Larry Winoker, our CFO, is not here today. So I'll cover his area as well in my remarks. Let me begin by noting that as you may have seen in the press release we issued on Monday, Lifetime's Board of Directors recently elected Dennis Reaves as a Director of the company. Dennis has been a strategic advisor to Lifetime for many years and we're indeed fortunate that this prime commitments now as such that he's able to join our board. Dennis' experience spans the breadth of retail, including having been the Senior Vice President and General Merchandise Manager of Wal-Mart Stores, where he was responsible for $18 billion of sales. He's also been a Senior Consultant at Big Lots, and the Gap and the Jarden Corporation. Turning now to the quarter. From an operating perspective, it was a great quarter, reflecting good gains in both sales and margins. We expect these gains to continue as we move into the holiday season. Lifetime's overall 11% sales growth was the result of 2 primary drivers. First, the roll out of new merchandise and new wholesale programs and promotions. And second, the very successful Fred & Friends acquisition we made in December 2012. Fred's wide range of novelty products is selling strongly and we're starting to benefit from the network of relationships with independent specialty stores that they have, a relatively new and under-penetrated channel for Lifetime. The Fred acquisition also contributed nicely to our margin increase for the period. In our Wholesale segment. Net sales in the quarter increased 11.9% to $138.5 million reflecting increases in both our Kitchenware and Home Solutions product categories. Sales of Kitchenware products increased by $13 million, of which $4.8 million…

[Operator Instructions] Your first question is from the line of Alexander Renker from Sidoti. Alexander Renker - Sidoti & Company, LLC: Jeff, I was wondering if you could give a little more color on the Tabletop business and then the difficulties you're seeing there, and in particular with Creative Tops?

Well Creative Tops had a good quarter. We're not seeing the difficulties at Creative Tops. Earlier in the year, Creative Tops did have a more difficult time when they first imposed the anti-dumping duties, and I guess, the sticker shock at the higher price revolted by everyone in the market but the business is back on track. In the U.S., we're seeing a little weakness at the very upper end of dinnerware. They're very formal. The market has been shifting and is continuing to shift to the more casual end of the business. We're doing things to make sure that we are the ones that ends up on top when that happens. So we're quite optimistic with that business. We had a very good Tabletop show last month, which is really for sales in 2014. We introduced this Mossy Oak, which is very, very well accepted in dinnerware and we will definitely be placing it, like, I can guarantee that in some major retailers -- some of the biggest retailers we deal with in the second and third -- mostly in the second quarter and going into the third quarter of 2014, and we had a concept, which I mentioned in my prepared remarks of open stock, it's really Open Stock Dinnerware and Flatware that match. It's plastic handle flatware and dinnerware with hands that are all the same. It's a very big concept in Europe. It's not commonly done in the U.S. but we came up with a very good display method and there were several of our biggest -- our biggest customers have committed to it. So we expect that to be good. So in general, the Tabletop business is not bad. It's just that there is weakness in the formal upper end of the business. Alexander Renker - Sidoti & Company, LLC: Right. And you'd see that business picking up a little bit in 2014, given some of the shifts you guys are making in terms of strategy there?

Yes, we do. We see that business increasing positively in 2014.

Your next question from the line of Brian Freckmann from LS Capital.

Just really quickly, a little more color on the buyback program, just kind of discuss maybe kind of holistically your thoughts there, maybe over a sort of a 12- or 18-month period sort of how you think about your use of cash there?

Well, we did buyback some stock in the quarter. We have not been that aggressive. Our stock has gone up as you know and we're watching it. And we'll -- our Board and us will consider it and going forward see what we're going to do. We're happy with our results and we might be buying back more stock. We certainly have the authorization to do so. And we'll see what we'll do going forward.

Did you say how much you bought back and what price?

We bought back a few hundred thousand back. I think it's in the release, I believe.

Was it, did I miss it, I'm sorry.

If you look at the cash flow analysis. It's there.

Maybe you can just speed read for me, what was the number or what was the average price maybe that you paid?

Larry, is not in. We'll be back tomorrow. If anyone has any questions, I'm happy to do his job as well if I can. Maybe I'll come back to that. Right now, I don't have it.

Okay. And then finally just...

Approximately, a little more than $3 million was the stock we bought back.

Okay. But you don't have the average price.

That's 9 months to date by the way.

Right, okay. And then just a little more color on the international expansions. I know that has been area for you guys over the last 2 years, especially with some acquisitions. Just kind of a general color in South America and then what your, just little more color on what you're seeing in Europe as well?

We're happy with what we have internationally, and we really want to add to that. Our strategic plan is -- definitely calls for us to increase our presence outside the United States as well as growing in the United States. We see opportunities. We're looking at opportunities, as soon as we finalize them, we'll certainly tell everyone about them. If they all finalize, obviously. But we do see opportunities to grow in Europe and in South America, and Brazil. Our Brazilian business is very much on track. The investment we made in GS International. They are beginning to ship to Wal-Mart Stores for the first time, with a gadget line and -- I believe in this quarter. So things are going in the right direction and we want to continue to grow internationally.

And refresh my memory that, the On Track for Brazil, what kind of -- what sort of best guess expectation for like 2014 revenue in that business?

It's small yet. And we haven't given that number out. We only own 40% of the company. The company we made the investments in is a relatively small company and it's going to take several years for it to grow to be a larger company. But we are on track going in the right direction. We have the right people in place there. We believe that company can become a sizable company in Brazil over the next few years. I'm very enthused, as I mentioned in my prepared remarks about our opportunities in China. So this is going to be something that hopefully can be significant for Lifetime in 2014.

What's your current revenue in China?

Almost nothing. This is really -- it's really new for us. We do have a joint venture that we have in place for dinnerware, Mikasa, but that's only a joint venture. The new venture that we're doing with Wal-Mart is not a joint venture, it's all Lifetime.

[Operator Instructions] And your next question from the line of Neal Goldman from Goldman Capital Management.

Could you just -- you're separate from the write off from the market value on the Mexican operation, you still showed a significant swing in profitability from profit last year to a loss. I know you had issues in the first half on the tariffs, what's happening currently?

They're having a somewhat difficult year. We were down there recently to meet with them. They've identified whatever issues they had. It was some sales issues both on the metals ends of business. I'll go into it really quick. Their business is split in 2. Half of it is housewares or part of it is housewares and the other part is in the aluminum business where they own smelters and rolling mills. In the smelter and aluminum part of the business, they acquired last year this company, Almexa, and they put the integration we'd go much more quickly than it's going. It's taken much, much longer and has set them back. They will not be compete with the integration for several more months, maybe 3 or 4 more months. On the housewares end of the business, there was some very low end products came into Mexico earlier this year that affected their business. They know how to counter it, they will counter it and their business should turnaround. Might not turnaround in the fourth quarter but it will turnaround certainly in our opinion in 2014.

Okay so you expect a fairly significant swing in '14 on that?

Yes, in '14. There should be a great improvement in '14 from what they've told us, what they've told their board, they expect it to be dramatically improved in 2014.

I would now like to turn the call over to Jeff Siegel, Chief Executive Officer, for closing remarks.

Thank you. Thank you, all, for your time today. As you've heard, we're ceasing on many opportunities to introduce new products and increase our penetration of existing distribution channels and expand internationally. We'll give you another update on these initiatives when our full year results are in. For anyone with any specific financial questions, Larry should be in the office tomorrow and should be able to answers your questions then. Thank you, all, for joining us.

Thank you for your participation in today's conference. This concludes the presentation. You may now disconnect. Have a very good day.