CoreSite Realty Corporation (NYSE:COR.PRA) Q2 2016 Earnings Conference Call - Final Transcript

Jul 28, 2016 • 12:00 pm ET


CoreSite Realty Corporation (NYSE:COR.PRA) Q2 2016 Earnings Conference Call - Final Transcript


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Greetings and welcome to the CoreSite Realty Corporation Second Quarter 2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mr. Derek McCandless. Thank you. You may begin.

Derek McCandless

Thank you. Hello, everyone, and welcome to our Second Quarter 2016 Conference Call. I'm joined here today by Tom Ray, our President and CEO; Steve Smith, our Senior Vice President, Sales and Marketing; and Jeff Finnin, our Chief Financial Officer. As we begin our call, I would like to remind everyone that our remarks on today's call include forward-looking statements within the meaning of applicable securities laws, including statements regarding projections, plans or future expectations. These forward-looking statements reflect current views and expectations, which are based on currently available information and management's judgment.

We assume no obligation to update these forward-looking statements and we can give no assurance that the expectations will be obtained. Actual results may differ materially from those described in the forward-looking statements and may be affected by a variety of risks and uncertainties, including those set forth in our SEC filings. Also, on this conference call, we refer to certain non-GAAP financial measures such as funds from operations. Reconciliations of these non-GAAP financial measures are available in the supplemental information that is part of the full earnings release, which can be accessed on the investor relations pages of our website at

And now, I'll turn the call over to Tom.

Tom Ray

Good morning and thank you for taking the time to join us today. Before I dive into Q2 results, I'll take a few minutes to share some thought about this morning's announcement of my upcoming retirement in CoreSite. First, I would like to thank the investor community and our shareholders, for the support they have shown over our past six years as a public company. I also want to thank our Board for support of the investments we made, not only in our facilities, but also in our organization.

Finally, I want to thank my CoreSite colleagues, it's been a privilege to have served alongside you over the past fifteen years. Being a part of this organization as it is grown and matured has been enormously joyful and fulfilling. And I'm humbled by what this team has accomplished in building a successful company and delivering on our commitments to our investors, customers and each other. I'm confident that the Company has a strong team in place and a solid platform for growth.

With that, I believe now is the right time for me to move on, and I look forward to spending more time with my family. Importantly, I feel confident leaving CoreSite in the capable hands of Paul Szurek and the deep bench of talent present through our all levels of the Company. Paul has been an active and engage member of our