Box, Inc. (NYSE:BOX) Q1 2016 Earnings Conference Call - Final Transcript

Jun 10, 2015 • 05:00 pm ET


Box, Inc. (NYSE:BOX) Q1 2016 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. Welcome to the Black Box Corporation Fourth Quarter Fiscal 2015 earnings call.

[Operator Instructions].

Now I'd turn the conference over to Mr. Ron Basso, Executive Vice President and General Counsel. Please go ahead.

Ron Basso

Thank you. Good evening, and welcome to Black Box Corporation fourth quarter, and fiscal 2015 earnings conference call. With us today are Mike McAndrew, our President and CEO; and Tim Huffmyer, our Vice President and Chief Financial Officer.

Earlier today, we announced our fourth quarter and fiscal 2015 results by issuing a press release and furnishing it to the Securities and Exchange Commission on form 8-K. We've also posted this press release on the IR section of our website at

In addition to commentary from Mike and Tim, we have a brief slide presentation supplementing the call. Those slides are available for download from the IRS section of our website. For those of you who are accessing the webcast, the slides, we present on your screen.

Before we begin, and as a reminder, matters discussed in this call may contain forward looking statements that involve risks and uncertainties, concerning Black Box's expected financial performance. Actual results may differ materially from expected results, and reported results should not be considered as an indication of future performance. Potential factors that could affect our business and financial results include changes in economic conditions in our end markets, and in general market at large. Additional factors are included in our most recent form 10-K, and in today's press release.

On this call, and as presented in today's press release, we'll discuss some non-GAAP financial measures, please refer to the schedule that accompany the press release for a reconciliation of these non gap financial measures to the most directly comparable GAAP financial measurement, and other supplemental information.

Now, I will turn the call over to Mike.

Mike McAndrew

Thanks, Ron. Welcome, everyone. And thank you for joining us today. I'm pleased to report that the Black Box team delivered a third consecutive quarter of year-over-year revenue growth in the fourth quarter fiscal 2015. In addition, our annual organic revenues adjusted for currency grew 3% in the fiscal year. This follows an organic revenue decline in each of the prior three years.

Our revenue growth was driven by our commercial business within North America service and modest growth in North America products. In particular, regarding North America services, strong growth from our solution practices, and contribution from our large man services client, supported by stability in our core commercial offerings was the key to these results.

Our revenue growth is further evidence that providing innovative solutions to our clients and investing in our business are changing the trajectory of Black Box. We remained focused on building sustainable revenue streams, increasing gross profit contribution, and in particular for the near term managing our operating costs to balance investments with operating margin expansion. I'll talk more about this following Tim's financial update.

In review the full year 2015, our