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VeriFone Systems' (PAY) CEO Paul Galant on Q3 2015 Results - Earnings Call Transcript


Good day, ladies and gentlemen, and welcome to the VeriFone Systems Incorporated Third Quarter 2015 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions]. As a reminder, this conference call may be recorded.

I would now turn the conference over to Doug Reed, Senior Vice President of Treasury and Investor Relations. You may begin.

Douglas Reed - SVP, Treasury and IR

Thank you, Nicole, and welcome everyone to the VeriFone financial results conference call for the third quarter of fiscal year 2015. With me today in New York City is our CEO, Paul Galant; and our CFO, Marc Rothman. A recording of this call and the slides will be available on our Investor Relations website until September 10, 2015.

First, for the legalities. VeriFone desires to take advantage of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain information you will hear on this conference call will consist of forward-looking statements, including management's view of future events and financial performance. Forward-looking statements are subject to various factors, risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

For a description of these factors, risks and uncertainties, I refer you to our filings with the Securities and Exchange Commission, including our most recent 10-K and 10-Q. Any forward-looking statements speak only as of today and VeriFone is under no obligation to update these statements to reflect future events or circumstances.

In addition, today's call will cover certain non-GAAP financial measures on both historical and forecast basis. Our management uses these measures to evaluate our operating performances and to compare our results to those of prior periods as well as to those of peer companies. VeriFone expects to continue to incur certain items that are excluded from the non-GAAP results discussed today.

These non-GAAP measures are not substitutes for and are not superior to disclosures made in accordance with GAAP. Reconciliations of these measures to the most comparable GAAP measures are presented in our earnings release, which is available on our website at

Please note that on today's call, we will refer to non-GAAP measures of revenues, gross margins, operating expenses, operating profit, net income, free cash flow, and earnings per share as well as few other metrics.

Now, I would like to turn the call over to Paul Galant, CEO of VeriFone.

Paul Galant - CEO

Thank you Doug and thank you all for joining us today. I am pleased to report that we are successfully executing the plan that we set this year and the results are strong and continue to [speak] the results. Based on feedback from prior earnings calls, we are going to shorten our prepared remarks today to lead more time for your questions.

To this end, I am going to briefly provide business highlights and also discuss what VeriFone is doing to drive growth well beyond FY15. I will then turn the call over to Marc.