CEB Inc. (NYSE:CEB) Q2 2015 Earnings Conference Call - Final Transcript

Jul 29, 2015 • 09:00 am ET


CEB Inc. (NYSE:CEB) Q2 2015 Earnings Conference Call - Final Transcript


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Good morning. And welcome to CEB's Second Quarter 2015 Conference Call. Today's call is being recorded and will be available for replay beginning today and through August 6 by dialing 719-457-0820. The replay pass code is 9211973. The replay will also be available beginning later today and through August 6 at the Company's website.

To the extent any non-GAAP financial measures discussed in today's call, you will also find a reconciliation of that measure to the most directly comparable financial measure calculated according to GAAP by going to the Company's website and reviewing yesterday's news release.

You'll also find a PDF of the supporting materials that the Company will use in its prepared remarks this morning by going to the Company's website and following the link to the second quarter [2014][ph] earnings conference call. Please review the second page of these materials, which includes important information about any forward-looking information included in the presentation.

This conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements, among others, regarding CEB's expected quarterly and annual financial performance for fiscal 2015 or beyond.

For this purpose, any statements made during this call are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, discussions of forecast, estimates, targets, plans, beliefs, expectations and the like are intended to identify forward-looking statements.

You're hereby cautioned that these statements may be affected by important factors among others set forth in CEB's filings with the Securities and Exchange Commission and in the second quarter news release.

Consequently, actual operations and results may differ materially from the results discussed in the forward-looking statements. The Company undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.

At this time, for opening remarks, I'd like to turn the conference over to the Company's Chairman and Chief Executive Officer, Mr. Tom Monahan. Please go ahead, sir.

Tom Monahan

Thanks, everyone, for calling and/or logging in today. We appreciate the opportunity to bring up to the speed on the continued impact, growth, and profitability of the business. I'll kick off the call with some summary comments about our performance in the quarter. Rich will then provide a more detailed discussion of our financial results and outlook for the remainder of the year. I'll then close with a look at go-forward strategic priorities before we take your questions.

I'll begin my remarks on slide three. In summary, our performance at midyear is mixed, but after some choppy Q2 we are back on track and well-positioned for a solid second half.

To good, we saw real progress on scaling into our profit targets. Materially and permanently improved our tax position and saw very strong advancement on hiring ramps in the quarter.

We also delivered on several of our major tech projects for the year and progress some smaller tuck-in acquisitions. And of course, we continue to implement our enhanced capital return strategy