Alamo Group, Inc. (NYSE:ALG) Q4 2017 Earnings Conference Call - Final Transcript

Mar 02, 2018 • 11:00 am ET

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Alamo Group, Inc. (NYSE:ALG) Q4 2017 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen. Welcome to Alamo Group Fourth Quarter and Fiscal Year 2017 Earnings Conference Call. During today's presentation all parties will be in a listen-only mode. Following the presentation the conference will be open for questions. (Operator Instructions) This conference is being recorded today, Friday, March 2, 2018.

I will now turn the conference over to Mr. Bob George, Vice President of Alamo Group. Please go ahead, Mr. George.

Executive
Robert H. George

Thank you, and good morning, everyone. By now, you should have received a copy of the press release. However, if anyone is missing a copy and would like to receive one, please contact us at (212) 827-3773, and we will send you a release and make sure you are on the company's distribution list. There will be a replay of the call which will begin one hour after the call and run for one week. The replay can be accessed by dialing 1 (888) 203-1112, with the passcode 788-3065. Additionally, the call is being webcast on the company's website at www.alamo-group.com, and a replay will be available for 60 days.

On the line with me today are Ron Robinson, President and Chief Executive Officer; Dan Malone, Executive Vice President and Chief Financial Officer; Richard Wehrle, Vice President and Corporate Controller; and Ed Rizzuti, Vice President and General Counsel. Management will make some opening remarks, and then we'll open the line for your questions. During the call today, management may reference certain non-GAAP numbers in their remarks. Reconciliation of these non-GAAP results to applicable GAAP numbers are included in the attachments to our earnings release.

Before turning the call over to Ron, I'd like to make a few comments about forward-looking statements. We will be making forward-looking statements today that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risk and uncertainties which may cause the company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: Market demand, competition, weather, seasonality, currency-related issues and other risk factors listed from time to time in the company's SEC reports. The company does not undertake any obligation to update the information contained herein, which speaks only as of this date.

I would now like to introduce Ron. Ron, please go ahead.

Executive
Ronald A. Robinson

Thank you, Bob. And we want to thank all of you for joining us here today. Dan Malone, our CFO, will begin our call with a review of our financial results for the fourth quarter and fiscal year 2017. I will then provide a few comments on the quarter and year-end results. And then following our formal remarks, we look forward to taking your questions. Story continues.

So Dan, please go ahead.

Executive
Dan E. Malone

Thank you, Ron. Alamo Group's fourth quarter and full year 2017 results again set company sales and operating income records. Except for onetime charges related to U.S. tax reform, net