The most notable incident in Yahoo’s first-quarter earnings conference call Tuesday came in the closing minutes.

That’s when CEO Carol Bartz hit a crowd of analysts with an F-bomb, instantly livening up a call which had until then focused on the company’s inline financial results.

Bartz, who has already earned a reputation as a no-nonsense leader with a blunt communications style, let the expletive fly while describing how her recent restructuring efforts will improve the inefficiencies that have long plagued Yahoo.

“We sort of had one product management person for every three engineers,” Bartz explained. “So we had a lot of people running around and telling people what to do, but nobody was f– ing doing anything.”

Bartz promptly excused herself for letting the phrase “slip out.”

Yahoo’s turnaround remains a work in progress, but at least the conference calls promise to be entertaining.