ePlus inc. (NASDAQ:PLUS) Q4 2015 Earnings Conference Call - Final Transcript

May 28, 2015 • 05:00 pm ET

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ePlus inc. (NASDAQ:PLUS) Q4 2015 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the ePlus, Inc. Fourth Quarter And Fiscal Year Ended 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 follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to introduce your host for today's conference, Mr. Kley Parkhurst, Senior Vice President. Sir, you may begin.

Executive
Kley Parkhurst

Thank you, Abigail, and thank you everyone for joining us today. With me today are Phil Norton, Chairman, President and CEO of ePlus; Mark Marron, our Chief Operating Officer and President of ePlus Technology; Elaine Marion, our Chief Financial Officer; and Erica Stoecker, our General Counsel.

I want to take a moment to remind you that the statements we'll make this afternoon that are not historical facts may be deemed to be forward-looking statements and are based on management's current plans, estimates and projections. Actual and anticipated future results may vary materially due to certain risks and uncertainties detailed in the earnings release we issued this afternoon and our periodic filings with the Securities and Exchange Commission, including our own Form 10-K for the year ended March 31, 2014, and our 10-K for the year ended March 31, 2015 when filed. The Company undertakes no responsibility to update any of these forward-looking statements in light of new information or future events.

In addition, during the call we may make reference to non-GAAP financial measures, and we have posted a GAAP financial reconciliation on our website at www.eplus.com.

Now, I'd like to turn the call over to Phil Norton. Phil?

Executive
Phil Norton

Thank you, Kley, and good afternoon, everyone. We are pleased with our fiscal year and fourth quarter results. For the year, we reported fully diluted earnings per share of $6.19, a 42% improvement over $4.37 the prior year. On a non-GAAP basis, fully diluted EPS was $5.59, a 28% increase over the prior year. For the quarter, we recorded diluted EPS of $1.22 as compared to $1.08 last year. Elaine will go into greater detail on these in just a moment.

For the quarter, non-GAAP gross sales of products and services increased 4.9%. We feel this is a strong metric given the revenue headwinds being experienced in the industry. Historically, we have been very adept at anticipating technology market transitions and shifting our focus and investments to be well-positioned to capture new opportunities generated by change.

Over the past several quarters, we have focused on increasing services and changing the customer engagement model to a total lifecycle model led by an assessment-based consultative approach through managed services and staffing. We believe the shift is taking place across the industry and is a key factor to the success in today's IT marketplace. And the new IT paradigm will converge -- hyper-converge infrastructure cloud and software-defined architectures. We're going to focus on working both with traditional tier 1 IT vendors such as Cisco, NetApp, HP,