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Capstone Turbine's (CPST) CEO Darren Jamison on Q1 2016 Results - Earnings Call Transcript


Good day, ladies and gentlemen, and welcome to the Capstone Turbine Corporation Earnings Conference Call for the First Quarter Fiscal Year 2016 Financial Results ended on June 30, 2015. At this time all participants are in a listen-only mode. Later we’ll conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions]. As a reminder, this conference call is being recorded.

During today's call, Capstone management will be referencing slides that can be located at under the Investor Relations section.

At this time, I would like to turn the call over to today’s host Ms. Clarice Hovsepian, Vice President Human Resources and Corporate Counsel. Please begin, ma’am.

Clarice Hovsepian - VP, Human Resources and Corporate Counsel

Thank you. Good afternoon and welcome to Capstone Turbine Corporation's conference call for the first quarter of fiscal year 2016 ended June 30, 2015. Capstone filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission today, August 6, 2015. If you do not have access to this document and would like one, please contact us by email at, or you can view all of our public filings on the SEC website at or on our website at

During the course of this conference call, management may make projections or other forward-looking statements regarding future events or financial performance of the company within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

These statements relate to, among other things, growth and diversification of our end markets, strengthened distribution channels; ongoing new order flow; reduced cash usage; growth in revenue, gross margin and backlog; attaining profitability; adequacy of liquidity in capital resources; improved operating leverage and organization efficiency; new product development; product reliability; shift to larger markets for our products; benefits from cost-reduction initiatives; performance in light of macroeconomic headwinds; continued NASDAQ listing, implementation of new Capstone finance business, collection of reserved accounts receivables, continued opportunities in Russia, improved brand equity and product recognition and leveraging of lean manufacturing practices.

Forward-looking statements may be identified by words such as expects, objective, intend, targeted, plan and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's Form 10-K, Form 10-Q and other recent filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements.

Because of the risks and uncertainties, Capstone cautions you not to place undue reliance on these statements, which speak only as of today. We undertake no obligation and specifically disclaim any obligation to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this conference call or to reflect the occurrence of unanticipated events.

I will now turn the call over to Capstone's President and Chief Executive Officer, Darren Jamison.

Darren Jamison - President and Chief Executive Officer

Thank you, Clarice. Good afternoon, and welcome, everyone, to Capstone's first quarter of fiscal year 2016 earnings call. Joining me today is Jayme Brooks, our Chief Financial Officer and the Chief Accounting Officer. I’ll begin today’s call with a brief overview of our highlights for the first quarter and then I’ll hand the call over to Jayme, who’ll review our quarterly financial results. After which I’ll return and discuss our overall business strategy and give a brief update on some of our key initiatives.

As the operator mentioned during the opening remarks, we will be using presentation slides that can be found on Capstone’s website under Investor Relations.