CADENCE DESIGN SYSTEMS, INC. Third Quarter 2015 Financial Results Conference Call
|
|
- Vernon Hudson
- 7 years ago
- Views:
Transcription
1 Page 1 CADENCE DESIGN SYSTEMS, INC. Third Quarter 2015 Financial Results Conference Call Remarks of Lip-Bu Tan, President and Chief Executive Officer, and Geoff Ribar, Senior Vice President and Chief Financial Officer October 26, :00 P.M. Pacific Remarks of Alan Lindstrom, Group Director of Investor Relations Safe Harbor Statement Thank you operator, and welcome everyone to our third quarter 2015 earnings conference call. With me today are Lip-Bu Tan, President and CEO, and Geoff Ribar, Senior Vice President and CFO. The webcast of this call can be accessed through our website cadence.com and will be archived through December 18, A copy of today s prepared remarks will also be available on our website at the conclusion of today s call. Before we start I want to call your attention to our new CFO Commentary which was included in our 8-K filing today and is available on our Investor Relations website at cadence.com. Since we are providing the CFO Commentary, Geoff s prepared remarks will be streamlined and certain metrics, not discussed in today s call, including historical comparisons, will appear in the CFO commentary. The CFO Commentary should be referenced in conjunction with both today s conference call remarks and the earnings press release issued today. Next, please note that today s discussion will contain forward-looking statements and that our actual results may differ materially from those expectations. For information on the factors that could cause a
2 Page 2 difference in our results, please refer to our filings with the Securities and Exchange Commission. These include Cadence s most recent reports on Form 10-K and Form 10-Q, including the company s future filings, and the cautionary comments regarding forward-looking statements in the earnings press release issued today. In addition to the financial results prepared in accordance with Generally Accepted Accounting Principles, or GAAP, we will also present certain non-gaap financial measures today. Cadence management believes that in addition to using GAAP results in evaluating our business, it can also be useful to measure results using certain non-gaap financial measures. Investors and potential investors are encouraged to review the reconciliation of non-gaap financial measures with their most direct comparable GAAP financial results, which can be found in the quarterly earnings section of the investor relations portion of our website. Additionally, a copy of today s press release dated October 26, 2015 for the quarter ended October 3, 2015, and related financial tables, can also be found in the investor relations portion of our website. Our 10-Q for the quarter ended October 3, 2015 was filed today. Now I ll turn the call over to Lip-Bu.
3 Page 3 Remarks of Lip-Bu Tan, President and Chief Executive Officer Good afternoon everyone and thank you for joining us today. Cadence delivered strong operating results for Q3: Revenue was $434 million, up 8 percent year over year, Non-GAAP operating margin was 27 percent, above the high end of our guidance range, Non-GAAP EPS was 28 cents, also above the high end of our guidance range, and Operating cash flow was $87 million, which keeps us on track for our guidance of $360 million for the year. Let s first address the environment. Semiconductor business conditions remain challenging and lower semiconductor growth for the year now appears likely. As we reported last quarter, we remain mindful of the ongoing consolidation in our semiconductor customer base. While we do not expect a material impact on our business nearterm, consolidations could pose a challenge to industry growth over the next few years. Now let s turn to the Q3 highlights. Our System Design Enablement strategy continues to create new vertical opportunities. In Q3, we signed a significant contract with GE Aviation for IP, hardware and system-level design services; A biomedical technology company adopted our low-power mixed-signal design flow; We became the provider for the functional verification environment of a leading automotive chip supplier; and A global automotive supplier significantly expanded its contract for functional safety verification to reduce their effort for ISO compliance.
4 Page 4 In the digital and sign-off space, the theme for this quarter was continued innovation, adoption, and proliferation of our new products. We expanded our digital footprint across multiple growing industries and across multiple process nodes. We now have over 30 customers using the Innovus implementation system for advanced-node production designs. This includes seven of the industry s Top Ten semiconductor companies, where our digital implementation position has increased significantly. In just three months since its launch, the Genus Synthesis Solution has already been purchased by multiple customers with many more in evaluation. Cypress Semiconductor is standardizing on a Cadence full digital flow and Spectre XPS for full custom verification for their next generation 40-nanometer mainstream products. Innovation continued with the introduction of another new digital product the Joules RTL Power Solution. Joules delivers time-based RTL power analysis 20 times faster than previous solutions. One of our most exciting announcements of the quarter was that the nano-electronics research institute IMEC and Cadence completed the tape-out of the world s first 5-nanometer test chip using EUV combined with 193 immersion lithography and quadruple patterning. In signoff, our Tempus Timing Solution surpassed 200 tape-outs, while the Voltus Power Solution and Quantus Extraction Solution continued to add new customers. Cadence earned a Partner of the Year award from TSMC for joint development of the 10- nanometer design infrastructure. IP is the fastest growing part of our business, and is one of the key tenets of our System Design Enablement strategy. The new Tensilica Vision P5 fourth-generation imaging DSP was introduced in Q3, with significantly improved capabilities and performance. The Vision P5 already has a major design win, and we believe that the vision market presents a huge opportunity, especially in mobile, ADAS, and IoT applications.
5 Page 5 Design IP had its best quarter ever. Two major customers, a systems company and a semiconductor company, have adopted our 14/16-nanometer multi-protocol SERDES PHY for production designs. Ours is the first multi-protocol SERDES PHY at this node. We also released a broad portfolio of design IP for TSMC s 10-nanometer FinFET process for which we already have secured multiple design wins, and We received a TSMC Partner of the Year award for analog/mixed-signal IP. Now let s turn to system design and verification. Verification remains the fastest growing challenge for our customers who must deliver functionally correct products within ever tighter market windows. Addressing the verification problem requires a holistic approach with the integration of multiple complementary products, which we provide with our System Development Suite. The Suite had an all-time record quarter in Q3, driven by growth in North America and China. The exciting news for hardware is that we have begun shipping our next-generation emulation platform. Purchases of Palladium XP II, the existing platform, continued at a good pace in Q3 with strong sales to systems companies. Sales of Protium, our FGPA prototyping platform, ramped significantly in Q3. Formal verification had a very strong quarter. A large systems company renewed and increased its JasperGold capacity by 50%. This was our largest order ever for formal verification. As companies in China move towards the leading edge they are adopting formal technology, and in Q3 we had our largest formal verification order so far in China. Our system interconnect business, which includes PCB, Sigrity system analysis and IC packaging tools, again delivered strong growth with revenue up 9 percent year-over-year. Our Allegro System-in-Package technology now supports TSMC s Integrated Fan-Out packaging technology, also known as InFO. InFO advanced wafer-level packaging technology provides cost
6 Page 6 effective system scaling to increase bandwidth, and will be an ideal solution for mobile and IoT applications. Now in summary: Cadence continued to deliver strong operating results in an environment that remains challenging, The System Design Enablement strategy is bringing more innovation and an increasing vertical focus to our business and solutions, In digital and signoff, we saw continued innovation, adoption, and proliferation of our new products, We are steadily introducing new products and gaining customers in IP, We have started shipping our next-generation emulation platform, And, our PCB, system analysis and packaging tools posted another strong quarter of growth. Now I will turn the call over to Geoff to review the financial results, and provide our outlook.
7 Page 7 Remarks of Geoff Ribar, Senior Vice President and Chief Financial Officer Thanks Lip-Bu, and good afternoon everyone. As Alan mentioned at the start of our call, we introduced our CFO Commentary this quarter. As a result, I will be focusing on the quarter highlights and operational drivers in my prepared remarks. You will find all of the numbers in the CFO Commentary, which was included in our 8-K filing today and was also made available on our website. The CFO Commentary should be referenced in conjunction with both my remarks and the earnings press release issued today. Now for the Q3 results. As Lip-Bu discussed, the environment remains challenging, and the pace of customer consolidation seems to continue unabated. So I am especially proud of the way we have been able to achieve good results in this environment. Total revenue was 434 million dollars, up 8 percent year-over-year. Revenue exceeded our expectations due to the timing between Q3 and Q4 of certain transactions. As Lip-Bu said, we have begun shipping our next-generation emulation platform. We expect to begin recognizing revenue in Q4. Total costs and expenses on a non-gaap basis were 316 million dollars, up 9 percent year-over-year. As previously discussed, the growth in expenses this year reflects the investments we are making in R&D and technical customer support. Non-GAAP operating margin was 27 percent, unchanged from Results exceeded our expectations due to both higher revenue and better expense management. GAAP net income per share was 25 cents.
8 Page 8 Non-GAAP net income per share was 28 cents, up 8 percent year-over-year. In addition to higher revenue and better expense management, lower than assumed interest expense contributed to better than expected non-gaap EPS. Operating cash flow was 87 million dollars, compared to 88 million for Q Cash and short-term investments were 711 million dollars at quarter-end, compared to 744 million at the end of Q2. DSOs were 28 days. Our new stock repurchase program is off to a strong start. We repurchased 5.9 million shares of stock in Q3 for 120 million dollars. Our program target remains 1.2 billion dollars by the end of 2016 and we expect the pace of repurchases to pick-up in Q after the final settlement in December of the warrants associated with the convertible debt we retired in June Financial Outlook Now let's turn to our outlook for the fourth quarter. We expect Q4 revenue to be in the range of 434 to 444 million dollars. This expectation takes into account the timing of certain transactions between Q3 to Q4. Also please recall that Q included an extra 15 million dollars of revenue due to the extra week in our fiscal This is a good time to remind everyone that while our software and maintenance revenue is highly predictable, revenue for both hardware and IP is lumpier, which may contribute to increased variability in quarterly revenue as these businesses grow.
9 Page 9 Non-GAAP operating margin is expected to be in the range of 27 to 28 percent. GAAP EPS for the fourth quarter is expected to be in the range of 20 to 22 cents. Non-GAAP EPS for the fourth quarter is expected in the range of 28 to 30 cents. Now for our fiscal 2015 outlook. Bookings are projected to be in the range of 1.87 to 1.93 billion dollars, unchanged from last quarter. Revenue is expected to be in the range of to billion dollars. The midpoint is unchanged from last quarter. Hardware revenue is expected to increase in 2015 compared to last year. Non-GAAP operating margin is expected to be in the range of approximately 26 to 27 percent. This is up from our prior expectation of 25 to 26 percent due to strong execution and expense management. As we discussed last quarter, remember as you think about next year that: Our investments in hiring for R&D and technical customer support have ramped throughout the year and will continue to do so in Q4. Hence we will exit 2015 at higher expense run rate than where we are at present. GAAP EPS is now expected to be in the range of 75 to 77 cents. Non-GAAP EPS is now expected in the range of $1.06 to $1.08, which is up 7 cents at the midpoint from our initial guidance for 2015 due to strong execution and expense management. We expect operating cash flow to be approximately 360 million dollars, unchanged from last quarter. You will find guidance for additional items in the CFO Commentary. So with that, operator, we'll now take questions.
10 Page 10 Remarks of Lip-Bu Tan, President and Chief Executive Officer In closing, I am very proud to highlight that the Great Place to Work Institute has recognized Cadence and our hardworking employees by including Cadence in its 2015 list of the world s 25 Best Multinational Workplaces. I would like to thank all of our employees, shareholders, customers, and partners for their support. Thank you all for joining us this afternoon.
CADENCE DESIGN SYSTEMS, INC. First Quarter 2016 Financial Results Conference Call
Page 1 CADENCE DESIGN SYSTEMS, INC. First Quarter 2016 Financial Results Conference Call Remarks of Lip-Bu Tan, President and Chief Executive Officer, and Geoff Ribar, Senior Vice President and Chief Financial
More informationCADENCE DESIGN SYSTEMS, INC. Second Quarter 2015 Financial Results Conference Call
Page 1 CADENCE DESIGN SYSTEMS, INC. Second Quarter 2015 Financial Results Conference Call Remarks of Lip-Bu Tan, President and Chief Executive Officer, and Geoff Ribar, Senior Vice President and Chief
More informationSynopsys First Quarter Fiscal Year 2016 Earnings Conference Call Prepared Remarks Wednesday, February 17, 2016
The following prepared remarks are an excerpt from Synopsys First Quarter Fiscal Year 2016 Earnings Call. To review the contents of the entire earnings call, please refer to the official webcast, which
More informationHow To Understand How Well-Run A Company Like Aerocean Does Well
3 rd Quarter 2014 Earnings Conference Call Transcript Overview*: BDC reported 3Q14 consolidated revenues of $613.1M, income from continuing operations of $50.4M and diluted EPS from continuing operations
More informationSprogo: A Reflection of Strategic Planning and Implementation
The following prepared remarks are an excerpt from Synopsys Fourth Quarter and Fiscal Year 2009 Earnings Call. To review the contents of the entire earnings call, please refer to the official webcast,
More informationSynopsys Fourth Quarter & Fiscal Year 2015 Earnings Conference Call Prepared Remarks Wednesday, December 2, 2015
The following prepared remarks are an excerpt from Synopsys Fourth Quarter and Fiscal Year 2015 Earnings Call. To review the contents of the entire earnings call, please refer to the official webcast,
More informationAdobe Q2 FY2013 Earnings Call Script June 18, 2013
MIKE SAVIAGE Good afternoon and thank you for joining us today. Joining me on the call are Adobe s President and CEO, Shantanu Narayen, as well as Mark Garrett, Executive Vice President and CFO. In the
More informationFirst Quarter 2016 Conference Call
Conference Call E. Scott Santi, Chairman & CEO Michael M. Larsen, Senior Vice President & CFO Aaron H. Hoffman, Vice President, Investor Relations April 20, Forward Looking Statement Safe Harbor Statement
More informationSYMANTEC CORPORATION 1Q11 EARNINGS TRANSCRIPT. Introduction Helyn Corcos, Vice President Investor Relations
Introduction Helyn Corcos, Vice President Investor Relations Good afternoon, and thank you for joining our call to discuss fiscal first quarter 2011 financial results. With me today are Enrique Salem,
More informationSynopsys Third Quarter Fiscal Year 2015 Earnings Conference Call Prepared Remarks Wednesday, August 19, 2015
The following prepared remarks are an excerpt from Synopsys Third Quarter of Fiscal Year 2015 Earnings Call. To review the contents of the entire earnings call, please refer to the official webcast, which
More informationSYMANTEC CORPORATION 4Q13 and FY13 RESULTS PREPARED REMARKS
Introduction Helyn Corcos, Vice President Investor Relations Good afternoon and thank you for joining our call to discuss our fourth quarter and fiscal year 2013 results. With me today are Steve Bennett,
More informationFourth Quarter 2015 Conference Call
Fourth Quarter 2015 Conference Call E. Scott Santi, Chairman & CEO Michael M. Larsen, Senior Vice President & CFO Aaron H. Hoffman, Vice President, Investor Relations January 27, 2016 Forward Looking Statements
More informationCerner Corporation Second Quarter 2015 Earnings Conference Call August 4, 2015
Moderator Cerner Corporation Second Quarter 2015 Earnings Conference Call August 4, 2015 Welcome to Cerner Corporation s second quarter 2015 conference call. Today s date is August 4, 2015, and this call
More informationSYNOPSYS POSTS FINANCIAL RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2007
PRESS RELEASE INVESTOR CONTACT: Lisa L. Ewbank Synopsys, Inc. 650-584-1901 EDITORIAL CONTACT: Yvette Huygen Synopsys, Inc. 650-584-4547 yvetteh@synopsys.com SYNOPSYS POSTS FINANCIAL RESULTS FOR FOURTH
More informationAdobe Q1 FY2014 Earnings Call Script March 18, 2014
MIKE SAVIAGE Good afternoon and thank you for joining us today. Joining me on the call are Adobe s President and CEO, Shantanu Narayen, as well as Mark Garrett, Executive Vice President and CFO. In the
More informationFourth Quarter Earnings Conference Call
Fourth Quarter Earnings Conference Call Larry Merlo President & Chief Executive Officer Dave Denton Executive Vice President & Chief Financial Officer February 10, 2015 Forward-looking Statements During
More informationLooking back on 2014, we:
Aetna Inc. Fourth Quarter 2014 Earnings Conference Call Hartford, CT Tuesday February 3, 2015, 8:00 A.M. ET Prepared Remarks Tom Cowhey, Vice President Investor Relations Good morning and thank you for
More informationContact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935
For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com ORACLE
More informationAdobe Q1 FY2016 Earnings Call Script & Slides March 17, 2016
MIKE SAVIAGE Good afternoon and thank you for joining us today. Joining me on the call are Adobe s President and CEO, Shantanu Narayen; and Mark Garrett, Executive Vice President and CFO. In the call today,
More informationTRC Companies, Inc. (TRR) Q2 2015 Earnings Conference Call Transcript February 04, 2015
TRC Companies, Inc. (TRR) Q2 2015 Earnings Conference Call Transcript February 04, 2015 Good morning. Welcome to the TRC Companies Second Quarter Fiscal 2015 Financial Results Conference Call. Today's
More informationPAYCHEX, INC. REPORTS SECOND QUARTER RESULTS
PAYCHEX, INC. REPORTS SECOND QUARTER RESULTS December 19, 2014 SECOND QUARTER FISCAL 2015 HIGHLIGHTS Total service revenue increased 10% to $665.9 million. Payroll service revenue increased 4% to $411.2
More informationFOR IMMEDIATE RELEASE
FOR IMMEDIATE RELEASE For media inquiries, contact: Eric Armstrong, Citrix Systems, Inc. (954) 267-2977 or eric.armstrong@citrix.com For investor inquiries, contact: Eduardo Fleites, Citrix Systems, Inc.
More informationRESEARCH IN MOTION REPORTS YEAR-END AND FOURTH QUARTER RESULTS FOR FISCAL 2012
FOR IMMEDIATE RELEASE March 29, 2012 RESEARCH IN MOTION REPORTS YEAR-END AND FOURTH QUARTER RESULTS FOR FISCAL 2012 Waterloo, ON Research In Motion Limited (RIM) (Nasdaq: RIMM; TSX: RIM), a world leader
More informationCerner Corporation Fourth Quarter 2011 Earnings Conference Call February 7, 2012
Moderator Cerner Corporation Fourth Quarter 2011 Earnings Conference Call February 7, 2012 Welcome to Cerner Corporation s fourth quarter 2011 conference call. Today s date is February 7, 2012, and this
More informationEvents & Presentations 02/11/2015. Strong Momentum and Results; Dividend Increase to $0.21
1 of 13 05/03/ 13:56 Home > Investor Relations > News & Events > News News Events & Presentations + 02/11/ Strong Momentum and Results; Dividend Increase to $0.21 SAN JOSE, CA -- (Marketwired) -- 02/11/15
More informationMERCADOLIBRE 1Q16 EARNINGS CONFERENCE CALL SCRIPT. Date: May 5th, 2016. Part I: Introduction and Disclaimer Investor Relations
MERCADOLIBRE 1Q16 EARNINGS CONFERENCE CALL SCRIPT Date: May 5th, 2016 Part I: Introduction and Disclaimer Investor Relations Hello everyone, and welcome to the MercadoLibre earnings conference call for
More informationAdobe Systems Incorporated 3/19/2012 Q1 FY2012 Earnings Call Script FINAL Draft
MIKE SAVIAGE Good afternoon and thank you for joining us today. Joining me on the call are Adobe s President and CEO, Shantanu Narayen, as well as Mark Garrett, Executive Vice President and CFO. In the
More informationContact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935
For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com CLOUD
More informationGAP INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS
GAP INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS Fourth Quarter 2014 Earnings Per Share Grew 10 Percent; Up 20 Percent Excluding Foreign Exchange Impact Fiscal Year 2014 Earnings Per Share
More informationMellanox Achieves Record Revenue in the Third Quarter 2015
PRESS RELEASE Press/Media Contact Allyson Scott McGrath/Power Public Relations and Communications +1-408-727-0351 allysonscott@mcgrathpower.com Investor Contact Mellanox Technologies +1-408-916-0012 ir@mellanox.com
More informationCitrix Reports Fourth Quarter and Fiscal Year Financial Results
FOR IMMEDIATE RELEASE For media inquiries, contact: Eric Armstrong, Citrix Systems, Inc. (954) 267-2977 or eric.armstrong@citrix.com For investor inquiries, contact: Eduardo Fleites, Citrix Systems, Inc.
More informationBlackBerry Reports Software and Services Growth of 106 Percent for Q4 and 113 Percent for Fiscal 2016
April 1, FOR IMMEDIATE RELEASE BlackBerry Reports Software and Services Growth of 106 Percent for Q4 and 113 Percent for Fiscal Company reports positive free cash flow for eighth consecutive quarter and
More informationContacts: Media: Margaret Kirch Cohen, +1 312-696-6383 or margaret.cohen@morningstar.com Investors may submit questions to investors@morningstar.com.
Contacts: Media: Margaret Kirch Cohen, +1 312-696-6383 or margaret.cohen@morningstar.com Investors may submit questions to investors@morningstar.com. FOR IMMEDIATE RELEASE Morningstar, Inc. Reports First-Quarter
More informationTesla Motors, Inc. Fourth Quarter & Full Year 2013 Shareholder Letter
Tesla Motors, Inc. Fourth Quarter & Full Year 2013 Shareholder Letter Record 6,892 Model S vehicles sold and delivered in Q4 World s highest Consumer Reports customer satisfaction score of 99/100 Q4 auto
More informationMellanox Achieves Record Quarterly and Annual Revenue
PRESS RELEASE Mellanox Technologies, Ltd. Press/Media Contact Allyson Scott McGrath/Power Public Relations and Communications +1-408-727-0351 allysonscott@mcgrathpower.com Investor Contact Mellanox Technologies
More informationQualcomm and China s National Development and Reform Commission Reach Resolution. - NDRC Accepts Qualcomm s Rectification Plan -
FOR IMMEDIATE RELEASE Qualcomm Contacts: Tina Asmar Corporate Communications Phone: 1-858-845-5959 email: corpcomm@qualcomm.com Warren Kneeshaw Investor Relations Phone: 1-858-658-4813 e-mail: ir@qualcomm.com
More informationHOPKINTON, Mass., April 24, 2013 - HIGHLIGHTS:
HOPKINTON, Mass., April 24, 2013 - HIGHLIGHTS: Record first-quarter revenue, non-gaap net income, non-gaap EPS, operating cash flow and free cash flow Year-over-year revenue growth across U.S. and major
More informationIBM REPORTS 2016 SECOND-QUARTER EARNINGS Continued Strong Growth in Strategic Imperatives Led by IBM Cloud
IBM REPORTS 2016 SECOND-QUARTER EARNINGS Continued Strong Growth in Strategic Imperatives Led by IBM Cloud Highlights Diluted EPS: GAAP of $2.61; Operating (non-gaap) of $2.95 Revenue from continuing operations
More informationELECTRONIC ARTS REPORTS Q2 FY14 FINANCIAL RESULTS
ELECTRONIC ARTS REPORTS Q2 FY14 FINANCIAL RESULTS Q2 Non-GAAP Net Revenue and EPS Results Exceed Guidance Fiscal Year 2014 Non-GAAP EPS Guidance Raised to $1.25 Per Share REDWOOD CITY, CA October 29, 2013
More information650-527-5152 650-527-6273 SYMANTEC REPORTS FIRST QUARTER FISCAL YEAR 2016 RESULTS
FOR IMMEDIATE RELEASE MEDIA CONTACT: INVESTOR CONTACT: Kristen Batch Sean Hazlett Symantec Corp. Symantec Corp. 650-527-5152 650-527-6273 kristen_batch@symantec.com sean_hazlett@symantec.com SYMANTEC REPORTS
More informationMicrosoft Cloud and Hardware Results Drives Fourth Quarter Performance
Microsoft Cloud and Hardware Results Drives Fourth Quarter Performance Commercial cloud annualized revenue run rate now exceeds $8 billion; Computing and Gaming Hardware, including Xbox and Surface, deliver
More informationSlide 1, Opening Matt Ginter, Treasurer and Vice President, Investor Relations
Q3 2015 Earnings Call Transcript Inge Thulin & Nicholas Gangestad October 22, 2015 Slide 1, Opening Matt Ginter, Treasurer and Vice President, Investor Relations Thank you and good morning everyone. Welcome
More informationCoherent, Inc. Conference Call Prepared Remarks Q2 14 Helene Simonet-EVP & Chief Financial Officer
Coherent, Inc. Conference Call Prepared Remarks Q2 14 Helene Simonet-EVP & Chief Financial Officer Good afternoon and welcome to Coherent s second fiscal quarter conference call. On today s call, I will
More informationRESEARCH IN MOTION REPORTS YEAR-END AND FOURTH QUARTER RESULTS FOR FISCAL 2010
FOR IMMEDIATE RELEASE March 31, 2010 RESEARCH IN MOTION REPORTS YEAR-END AND FOURTH QUARTER RESULTS FOR FISCAL 2010 Waterloo, ON Research In Motion Limited (RIM) (Nasdaq: RIMM; TSX: RIM), a world leader
More informationContact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935
For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com ORACLE
More informationGAP INC. REPORTS THIRD QUARTER RESULTS
GAP INC. REPORTS THIRD QUARTER RESULTS SAN FRANCISCO November 19, 2015 Gap Inc. (NYSE: GPS) today reported results for the third quarter of fiscal year 2015 and updated its full-year fiscal 2015 outlook.
More informationThank you, and good afternoon. Joining me on today s call is Jason Rhode, Cirrus Logic s president and chief executive officer.
Q3 FY 09 Conference Call Script OPERATOR: Ladies and Gentlemen, thank you for standing by. Welcome to the Cirrus Logic third quarter fiscal year 2009 financial results conference call. At this time, all
More informationThank you operator, and good afternoon. Joining me on today s call is Mike Hackworth, Cirrus Logic s chairman and acting chief executive officer.
Q4 FY 07 Conference Call Script OPERATOR: Ladies and Gentlemen, thank you for standing by. Welcome to the Cirrus Logic fourth quarter fiscal year 2007 financial results conference call. At this time, all
More informationContact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935
For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com ORACLE
More informationBaidu Announces First Quarter 2015 Results
Baidu Announces First Quarter 2015 Results BEIJING, China, April 29, 2015 Baidu, Inc. (NASDAQ: BIDU) ( Baidu or the Company ), the leading Chinese language Internet search provider, today announced its
More informationLinkedIn Q4 2014 Quarterly Results Transcript
LinkedIn Q4 2014 Quarterly Results Transcript LinkedIn Participants: Matt Sonefeldt Head of Investor Education, LinkedIn Jeff Weiner Chief Executive Officer, LinkedIn Steve Sordello Chief Financial Officer,
More informationContact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935
For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com ORACLE
More informationSTANLEY BLACK & DECKER. Don Allan Senior Vice President & CFO Raymond James 36th Annual Institutional Investors Conference Monday, March 2, 2015
STANLEY BLACK & DECKER Don Allan Senior Vice President & CFO Monday, March 2, 2015 Cautionary Statements This presentation contains forward-looking statements, that is, statements that address future,
More informationSECOND QUARTER 2014 EARNINGS CONFERENCE CALL
SECOND QUARTER 2014 EARNINGS CONFERENCE CALL July 31, 2014 SAFE HARBOR Statements in this presentation, including those related to the outlook for 2014 and beyond, the continuing integration of Motorola
More informationFiscal Year 2015 Fourth Quarter Conference Call
Copyright 2015 Rockwell Automation, Inc. All rights reserved. Fiscal Year 2015 Fourth Quarter Conference Call November 10, 2015 Copyright 2015 Rockwell Automation, Inc. All rights reserved. 2 Safe Harbor
More informationBaidu Announces Fourth Quarter and Fiscal Year 2015 Results
Baidu Announces Fourth Quarter and Fiscal Year 2015 Results BEIJING, China, February 25, 2016 Baidu, Inc. (NASDAQ: BIDU) ( Baidu or the Company ), the leading Chinese language Internet search provider,
More informationCoherent, Inc. Conference Call Prepared Remarks Q2 16 Bret DiMarco EVP, General Counsel & Corporate Secretary
Coherent, Inc. Conference Call Prepared Remarks Q2 16 Bret DiMarco EVP, General Counsel & Corporate Secretary Thank you and welcome to today s conference call to discuss Coherent s second fiscal quarter
More informationEarnings Conference Call
Third dquate Quarter 2015 Earnings Conference Call Larry Merlo President & Chief Executive Officer Dave Denton Executive Vice President & Chief Financial Officer October 30, 2015 Forward-looking Statements
More informationN E W S R E L E A S E
N E W S R E L E A S E Investors: Brett Manderfeld John Penshorn Media: Don Nathan Tyler Mason Vice President Senior Vice President Senior Vice President Vice President 952-936-7216 952-936-7214 952-936-1885
More informationBaidu Announces Third Quarter 2008 Results
Baidu Announces Third Quarter 2008 Results BEIJING, China, October 22, 2008 Baidu.com, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, today announced its unaudited financial
More informationFISCAL Q3 2016 SUPPLEMENTAL FINANCIAL INFORMATION
FISCAL Q3 2016 SUPPLEMENTAL FINANCIAL INFORMATION April 29, 2016 Safe Harbor Statement This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933
More informationMicrosoft Cloud Strength Highlights Second Quarter Results
Microsoft Cloud Strength Highlights Second Quarter Results Commercial cloud annualized revenue run rate exceeds $9.4 billion; Windows 10 active on over 200 million devices REDMOND, Wash. January 28, 2016
More informationIBM REPORTS 2013 FOURTH-QUARTER AND FULL-YEAR RESULTS
IBM REPORTS 2013 FOURTH-QUARTER AND FULL-YEAR RESULTS Fourth-Quarter 2013: o Diluted EPS: - GAAP: $5.73, up 12 percent; - Operating (non-gaap): $6.13, up 14 percent; o Net income: - GAAP: $6.2 billion,
More informationITW Conference Call Third Quarter 2013
ITW Conference Call Third Quarter 2013 October 22, 2013 SOLID GROWTH. STRONG RETURNS. BEST-IN-CLASS OPERATOR. Forward-Looking Statements Safe Harbor Statement This conference call contains forward-looking
More informationSales increased 15 percent to $4.5 billion Earnings per Share increased 37 percent to $0.96 Operating Cash Flow increased 22 percent to $319 million
Contact: Mark Polzin (314) 982-1758 John Hastings (314) 982-8622 EMERSON REPORTS RECORD FIRST-QUARTER 2006 RESULTS Sales increased 15 percent to $4.5 billion Earnings per Share increased 37 percent to
More informationIntuit Inc. First-Quarter Fiscal 2011 Conference Call Remarks November 18, 2010
Intuit Inc. First-Quarter Fiscal 2011 Conference Call Remarks November 18, 2010 Introduction Good afternoon and welcome to Intuit s first-quarter 2011 conference call. I m here with Brad Smith, our president
More informationEquifax Reports Fourth Quarter and Full Year 2008 Results; Provides First Quarter 2009 Guidance
1550 Peachtree Street, N.W. Atlanta, Georgia 30309 NEWS RELEASE Contact: Jeff Dodge Tim Klein Investor Relations Media Relations (404) 885-8804 (404) 885-8555 jeff.dodge@equifax.com tim.klein@equifax.com
More informationPositive 4 th quarter solidifies profitable 2010 for Old National
FOR IMMEDIATE RELEASE January 31, 2011 Contacts: Media: Kathy A. Schoettlin (812) 465-7269 Executive Vice President Communications Financial Community: Lynell J. Walton (812) 464-1366 Senior Vice President
More informationNEWS RELEASE MFLEX ANNOUNCES THIRD QUARTER 2015 FINANCIAL RESULTS
NEWS RELEASE Contact: Stacy Feit Investor Relations Tel: 213-486-6549 Email: investor_relations@mflex.com MFLEX ANNOUNCES THIRD QUARTER 2015 FINANCIAL RESULTS Fifth consecutive quarter of strong profitability
More informationIntroduction. Now, I ll turn the call over to Mark Loughridge.
Introduction Thank you. This is Patricia Murphy, Vice President of Investor Relations for IBM. I m here with Mark Loughridge, IBM s Senior Vice President and CFO, Finance and Enterprise Transformation.
More informationOracle Corporation (Exact name of registrant as specified in its charter)
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date
More informationPAYCHEX, INC. REPORTS THIRD QUARTER RESULTS
PAYCHEX, INC. REPORTS THIRD QUARTER RESULTS March 25, 2015 THIRD QUARTER FISCAL 2015 HIGHLIGHTS Total service revenue increased 8% to $693.6 million for the third quarter; 9% for the nine months. Payroll
More informationIBM REPORTS 2014 FOURTH-QUARTER AND FULL-YEAR RESULTS
IBM REPORTS 2014 FOURTH-QUARTER AND FULL-YEAR RESULTS Fourth-Quarter 2014: o Diluted EPS from continuing operations: - GAAP: $5.54, down 4 percent; - Operating (non-gaap): $5.81, down 6 percent; o Pre-tax
More informationPress Release. Media Relations Margo Westfall Ikanos Communications 510-438-6276 mwestfall@ikanos.com
Press Release Contacts: Investor Relations Bonnie Mott Ikanos Communications 510-438-5360 bmott@ikanos.com Media Relations Margo Westfall Ikanos Communications 510-438-6276 mwestfall@ikanos.com Ikanos
More informationunisys 3Q14 Financial Release CEO/CFO Statements October 21, 2014
unisys 3Q14 Financial Release CEO/CFO Statements October 21, 2014 Niels Christensen, IRO Thank you, operator. Good afternoon, everyone, and thank you for joining us. Earlier today, Unisys released its
More informationOceaneering Announces Record Quarterly Earnings
PRESS RELEASE Oceaneering International, Inc. 11911 FM 529 Houston, Texas 77041 Telephone: (713) 329-4500 Fax: (713) 329-4951 www.oceaneering.com Oceaneering Announces Record Quarterly Earnings October
More informationPAYCHEX, INC. REPORTS THIRD QUARTER RESULTS
PAYCHEX, INC. REPORTS THIRD QUARTER RESULTS March 26, 2014 THIRD QUARTER FISCAL 2014 HIGHLIGHTS Total service revenue increased 7% to $626.0 million. Payroll service revenue increased 5% to $413.9 million.
More informationDASSAULT SYSTEMES 2015 Third Quarter Conference Call Thursday, October 22, 2015 Final
DASSAULT SYSTEMES 2015 Third Quarter Conference Call Thursday, October 22, 2015 Final François-José Bordonado Vice President, Investor Relations Thank you for joining Bernard Charlès, CEO, and Thibault
More informationCHINA DISTANCE EDUCATION HOLDINGS LIMITED ANNOUNCES FISCAL THIRD QUARTER 2008 RESULTS
FOR IMMEDIATE RELEASE CHINA DISTANCE EDUCATION HOLDINGS LIMITED ANNOUNCES FISCAL THIRD QUARTER 2008 RESULTS BEIJING, China, August 18, 2008 China Distance Education Holdings Limited (NYSE Arca: DL) ( CDEL,
More informationSierra Wireless Reports Second Quarter 2015 Results
Sierra Wireless Reports Second Quarter 2015 Results Q2 2015 revenue of $158 million; 17% year-over-year growth Record revenue of $158.0 million, an increase of 17.0% compared to Q2 2014 Non-GAAP earnings
More informationPULASKI FINANCIAL S SECOND FISCAL QUARTER EPS MORE THAN TRIPLES
PULASKI FINANCIAL S SECOND FISCAL QUARTER EPS MORE THAN TRIPLES Current Versus Prior Year Quarter Highlights Earnings growth - Diluted EPS $0.29 in 2013 versus $0.08 in 2012 - Annualized return on average
More informationStrength in Microsoft Cloud Highlights Q3 Results
Strength in Microsoft Cloud Highlights Q3 Results Increasing usage of Microsoft Azure, Office 365, Bing and Xbox Live contributes to Q3 growth REDMOND, Wash. April 23, 2015 Microsoft Corp. today announced
More informationcompared to the fourth quarter of 2006, the third quarter of 2007, and to the year ended
FOR IMMEDIATE RELEASE CaNT ACT: Susan Conway Director of Investor Relations Cognex Corporation Phone: (508) 650-3353 Email: susan. conway((i).coanex. com COGNEX CORPORATION ANNOUNCES FOURTH QUARTER RESULTS
More information2013 Letter from Our Chairman & CEO
2013 Letter from Our Chairman & CEO In fiscal 2013, we extended our track record of creating exceptional shareholder value. Pierre Nanterme Chairman & CEO Delivering in fiscal 2013 In fiscal 2013, Accenture
More informationTim Hortons Inc. 2008 Fourth Quarter Results. Conference Call and Web cast February 20, 2009
Tim Hortons Inc. 2008 Fourth Quarter Results Conference Call and Web cast February 20, 2009 Q4 2008 Speakers (in sequence) Scott Bonikowsky Vice-President, Investor Relations Don Schroeder President &
More informationHow To Understand How Twitter Works
Twitter Reports Second Quarter 2014 Results SAN FRANCISCO, Calif. July 29, 2014 Twitter, Inc. (NYSE: TWTR) today announced financial results for the second quarter ended 2014. Q2 revenue of $312 million,
More informationCOMPANY CONTACTS: Jay S. Hennick Founder & CEO. D. Scott Patterson President & COO (416) 960-9500
COMPANY CONTACTS: Jay S. Hennick Founder & CEO D. Scott Patterson President & COO John B. Friedrichsen Senior Vice President & CFO (416) 960-9500 FOR IMMEDIATE RELEASE FirstService Reports Record Fourth
More informationMidwest Investment Conference
June 22 2016 Midwest Investment Conference Lee D. Rudow President and CEO Michael J. Tschiderer Chief Financial Officer 1 Safe Harbor Statement This presentation contains forward looking statements within
More informationDST SYSTEMS, INC. ANNOUNCES THIRD QUARTER 2015 FINANCIAL RESULTS
ANNOUNCES THIRD QUARTER 2015 FINANCIAL RESULTS KANSAS CITY, MO - October 22, 2015 DST Systems, Inc. (NYSE: DST) reported consolidated net income of $75.1 million ($2.08 per diluted share) for the third
More informationThird Quarter 2015 Conference Call
Third Quarter 2015 Conference Call E. Scott Santi, Chairman & CEO Michael M. Larsen, Senior Vice President & CFO Aaron H. Hoffman, Vice President, Investor Relations October 21, 2015 Forward Looking Statements
More informationAdobe Q2 FY2016 Earnings Call June 21, 2016
MIKE SAVIAGE Good afternoon and thank you for joining us today. Joining me on the call are Adobe s President and CEO, Shantanu Narayen; and Mark Garrett, Executive Vice President and CFO. In the call today,
More informationBlackBerry Reports 2015 Fiscal First Quarter GAAP Profitability
NEWS RELEASE FOR IMMEDIATE RELEASE June 19, BlackBerry Reports 2015 Fiscal First Quarter GAAP Profitability Waterloo, ON BlackBerry Limited (NASDAQ: BBRY; TSX: BB), a global leader in mobile communications,
More informationQualcomm Announces First Quarter Fiscal 2016 Results Revenues $5.8 billion GAAP EPS $0.99, Non-GAAP EPS $0.97. -EPS Above High End of Guidance Range-
FOR IMMEDIATE RELEASE Qualcomm Contact: Warren Kneeshaw Vice President, Investor Relations Phone: 1-858-658-4813 e-mail: ir@qualcomm.com Qualcomm Announces First Quarter Fiscal 2016 Results Revenues $5.8
More informationIBM REPORTS 2015 FOURTH-QUARTER AND FULL-YEAR RESULTS
IBM REPORTS 2015 FOURTH-QUARTER AND FULL-YEAR RESULTS Fourth-Quarter 2015: o Diluted EPS from continuing operations: - Operating (non-gaap): $4.84, down 17 percent; impact of 20 points from prior year
More informationPAYCHEX, INC. REPORTS FOURTH QUARTER AND FISCAL 2015 RESULTS
PAYCHEX, INC. REPORTS FOURTH QUARTER AND FISCAL 2015 RESULTS July 1, 2015 FOURTH QUARTER AND FULL YEAR FISCAL 2015 HIGHLIGHTS Total service revenue increased 8% to $681.4 million for the fourth quarter;
More informationCIMATRON CONFERENCE CALL SCRIPT PAGE 1. Ladies and gentlemen, thank you for standing by. All participants are at present in a listen-only mode.
CIMATRON CONFERENCE CALL SCRIPT PAGE 1 VEIDAN OPERATOR Ladies and gentlemen, thank you for standing by. Welcome to Cimatron's 4th Quarter 2012 Results Conference Call. All participants are at present in
More informationASML reports Q3 results as guided and remains on track for record 2015 sales Two new lithography scanners launched
ASML reports Q3 results as guided and remains on track for record 2015 sales Two new lithography scanners launched ASML 2015 Third Quarter Results Veldhoven, the Netherlands Forward looking statements
More informationSo with these formalities out of the way, I d now like to turn the call over to our Co-Founder and CEO, Avishai Abrahami.
Wix.com Second Quarter 2014 Earnings Call Transcript August 6, 2014 Joe Pollaro, VP Strategic Partnerships and Investor Relations Good morning. I d like to welcome everyone to today s call to discuss Wix
More informationQ2 2014 FINANCIAL RESULTS CONFERENCE CALL
Q2 2014 FINANCIAL RESULTS CONFERENCE CALL TUESDAY, JULY 22, 2014 2:00 P.M. PACIFIC TIME 1 Forward Looking Statements Information, statements and projections contained in these presentation slides and related
More information1 of 15 17/07/2014 10:22
1 of 15 17/07/ 10:22 Print Page Close Window SanDisk Announces Second Quarter Results Delivers Record Second Quarter Revenue, Gross Margin and Net Income MILPITAS, Calif.--(BUSINESS WIRE)--Jul. 16, --
More information