AmerisourceBergen Corporation (NYSE:ABC) Q1 2016 Earnings Conference Call - Final Transcript

Feb 04, 2016 • 11:00 am ET


AmerisourceBergen Corporation (NYSE:ABC) Q1 2016 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the AmerisourceBergen Earnings Call. [Operator Instructions]

I would now like to turn the call over to our host, Barbara Brungess. Please go ahead.

Barbara Brungess

Thank you, Lisa. Good morning, everyone, and thank you for joining us on this conference call to discuss AmerisourceBergen' s December quarter and fiscal year 2016 results. I am Barbara Brungess, Vice President, Corporate & Investor Relations for AmerisourceBergen. And joining me today are Steve Collis, President and CEO of AmerisourceBergen; and Tim Guttman, Executive Vice President and CFO of AmerisourceBergen.

During the conference call today, we will make some forward-looking statements about our business prospects and financial expectations, including, without limitations, revenue, operating margin and taxes. Forward-looking statements are based on management' s current expectations and are subject to uncertainty and change in circumstances. We remind you that there are many uncertainties and risks that could cause our actual results to differ materially from our current expectations.

For a discussion of some key risk factors and other cautionary statements, we refer you to our SEC filings, including our Form 10-K for fiscal 2015 as well as our quarterly and other filings with the SEC.

We will also be discussing non-GAAP financial measures, which we use to assess the underlying performance of our business. The GAAP to non-GAAP reconciliations are provided in today' s press release as well as on our website. AmerisourceBergen assumes no obligations to update any forward-looking statements or information which speaks as of their respective dates, and this call cannot be rebroadcast without the express permission of the company. Those connected by phone will have an opportunity to ask questions after our opening remarks.

Now here is Steve Collis to begin our conference.

Steven Collis

Thanks, Barbara, and good morning, everyone. I am pleased with our results in the first quarter of fiscal 2016 and I commend our associates for the tremendous value they provide to the pharmaceutical supply channel. Day in and day out they are focused on creating value for all of our stakeholders and ultimately for the patients we all serve.

We play a vital role in the provision of healthcare which is grounded in our dedication to operational excellence, a continuous improvement in the efficiency, and our bold embrace of innovation. Everything we do is ultimately driven by one objective, enabling high quality pharmaceutical care for patients. The unique knowledge and expertise we have developed in our partnership philosophy and our increasingly global reach enable us to influence and shape healthcare delivery by providing creative solutions to the challenges inherent in today's healthcare market place.

The proficiency with which we run our business creates value for all of our stakeholders and enables us to strategically position ourselves to take advantage of the opportunities that are unfolding in a rapidly changing landscape. Tim will provide the details on our financial performance in the quarter, but I want to highlight a few items. Revenues were up 9% in the December quarter to $36.7