Owens & Minor Inc. (NYSE:OMI) Q4 2015 Earnings Conference Call - Final Transcript

Feb 09, 2016 • 08:30 am ET


Owens & Minor Inc. (NYSE:OMI) Q4 2015 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Owens & Minor's Fourth Quarter and Full-Year 2015 Financial Results Conference Call. My name is Candace and I will be your operator for today. At this time all participant are in listen only mode. We will be facilitating a question-and-answer section towards end the of this conference call. [Operator Instructions] As a reminder, this conference call is being recorded for replay purposes.

I would now like to turn the presentation over to your host for today's call, Trudi Allcott. Please go ahead.

Truitt Allcott

Thank you, Candace. Good morning everyone and welcome to the Owens & Minor fourth quarter and full year 2015 earnings call. I'm Trudi Allcott and on behalf of the team, I'd like to read a Safe Harbor statement before we begin.

Our comments today will be focused on financial results for the fourth quarter and full year of 2015, which are included in our press release and on our website. In our discussion today, we will reference certain non-GAAP financial measures. Information about these measures and reconciliations to GAAP financial measures are included in our press release and in the supplemental information posted on our website.

In the course of our discussion today, we may make forward-looking statements. These statements are subject to risks and uncertainties that could cause our actual results to differ materially from those projected. Please see our press release and our SEC filings for a full discussion of these risk factors.

Participating on our call this morning are Cody Phipps, our President and CEO; Randy Meier, Executive Vice President and Chief Financial Officer and President of International; Grace den Hartog, our General Counsel and Nick Pace, our incoming General Counsel.

Now, I'd like to turn the call over to Cody Phipps, who will start things off this morning. Cody?

Paul Cody Phipps

Thank you, Trudi, and good morning, everyone. As we enter 2016, I'm pleased with the progress we are making to reposition Owens & Minor as a global healthcare services company.

As we move forward with our transformation agenda, we have launched initiatives to improve near-term performance and strengthen our value-added services for both provider and manufacturer customers.

At the same time, we are investing in new global resources and capabilities, expanding our healthcare solutions and positioning the Company for long-term success. This morning I will update you on the progress of our key transformation initiatives. Randy will then provide more detail on our fourth quarter and full-year results.

As you recall, our transformation plan has four key elements: one, build and align the senior team. Two, strengthen our domestic services business. Three, enhance the execution of our current growth strategies and four, develop future strategies.

First, on building and aligning our senior team. As a reminder, we've already made a number of changes to the leadership team. Randy Meier, our CFO, has taken on leadership of Owens & Minor International, as well as our Clinical and Procedural Solutions Group.

Erika Davis has assumed a new role as