Helen of Troy Limited (NASDAQ:HELE) Q3 2018 Earnings Conference Call - Final Transcript

Jan 08, 2018 • 09:00 am ET

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Helen of Troy Limited (NASDAQ:HELE) Q3 2018 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, everyone. Welcome to the Helen of Troy Limited Third Quarter 2018 Earnings Call. Today's conference is being recorded.

At this time, I'd like to turn the conference over to Mr. Jack Jancin, Senior VP, Corporate Business Development. You may begin, sir.

Executive
Jack Jancin

Good morning, everyone, and welcome to Helen of Troy Third Quarter Fiscal Year 2018 Earnings Conference Call. The agenda for the call this morning is as follows; I'll begin with a brief discussion of forward-looking statements. Mr. Julien Mininberg, the company's CEO, will comment on the financial performance for the quarter, and then update you on areas of focus for fiscal year 2018. Then, Mr. Brian Grass, the company's CFO, will review the financials in more detail and comment on the company's outlook for fiscal year 2018. Following this, Mr. Mininberg and Mr. Grass will take questions you have for us today.

This conference call may contain certain forward-looking statements that are based on management's current expectation with respect to future events or financial performance. Generally, the words anticipates, believes, expects, and other similar words identify forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that could cause anticipated results to differ materially from actual results. This conference call may also include information that may be considered non-GAAP financial information. These non-GAAP measures are not an alternative to GAAP financial information and may be calculated differently than the non-GAAP financial information disclosed by other companies. The company cautions listeners not to place undue reliance on forward-looking statements or non-GAAP information.

Before I turn the call over to Mr. Mininberg, I'd like to inform all interested parties that a copy of today's earnings release has been posted to the company's website at www.hotus.com. The earnings release contains tables that reconcile non-GAAP financial measures to their corresponding GAAP-based measures. The release can be obtained by selecting the Investor Relations tab on the company's homepage and then the News tab.

I will now turn the conference call over to Mr. Mininberg.

Executive
Julien R. Mininberg

Thanks Jack and good morning. Thanks to everybody for joining us. I would like to wish everybody a Happy New Year. I look forward to a successful and very prosperous 2018. I'm very pleased to report several key developments since our last earnings call, as we took important steps to improve our portfolio, our asset efficiency, and also beginning to act on Project Refuel. We also gained clarity regarding tax reform, further reduced our share counts, and deliver another strong quarter.

The sale of Healthy Directions, which occurred in December, marks the first time the company has made a significant divestiture. In this case, the sale of a full business segment. Importantly, we retain the direct-to-consumer systems and fulfillment capability we have built for Healthy Directions, which will continue to be a value to our remaining portfolio. Healthy Directions is being placed in very good hands with Direct Digital, bringing together two complementary vitamin and mineral supplement industry leaders. This new combination will provide Healthy Directions'