Regis Corp. (NYSE:RGS) Q3 2018 Earnings Conference Call - Final Transcript

May 01, 2018 • 10:00 am ET


Regis Corp. (NYSE:RGS) Q3 2018 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. Welcome to the Regis Corporation Fiscal 2018 Third Quarter Earnings Call. My name is Ryan, and I will be your conference facilitator today. At this time, all participants are in listen-only mode. Following management's presentation, we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this call is being recorded for playback and will be available by approximately 12 p.m. Eastern Time today.

I'll now turn the conference over to Mr. Paul Dunn, Vice President of Finance and Investor Relations. Please go ahead.

Paul Dunn

Thank you, Ryan.

Good morning, everyone, and thank you all for joining us. On the call with me today are Hugh Sawyer, our Chief Executive Officer; Andrew Lacko, our Chief Financial Officer; Eric Bakken, President of our Franchise Segment; and Amanda Rusin, our General Counsel.

Before turning the call over to Hugh, there are a few housekeeping items I need to address. First, today's earnings release and conference call include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are not guarantees of performance and by their nature are subject to inherent risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Please refer to today's release and our recent SEC filings for more information on these risks and uncertainties. The company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this call. Second, this morning's conference call must be considered in conjunction with both the 10-Q filing and earnings release we issued this morning. In today's call, we will be discussing non-GAAP financial results that exclude the impact of certain business events.

These non-GAAP financial measures are provided to facilitate meaningful year-over-year comparisons, but should not be considered superior to, or as a substitute for, and should be read in conjunction with GAAP financial measures for the period. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in this morning's earnings release, which is available on our website at

With that, I will now turn the call over to Hugh.

Hugh E. Sawyer

Thank you, Paul, and good morning, everyone.

Thanks for joining us, and thanks as well for your interest in Regis. I am delighted to report to you that it's finally stopped snowing here in Minneapolis. I'm feeling a little better about the world, as we look into the months ahead. My comments today will focus briefly on the status of our ongoing efforts to build a high-performing company, a journey which began last April. Andrew will then provide a recap of our financial results for the quarter.

When I joined Regis just over a year ago, I outlined, what I believe, was an ambitious vision for the company that included the following elements; a strategic transformation of the business with an emphasis on the growth of our franchise platform; restructuring of our non-performing