ICU Medical, Inc. (NASDAQ:ICUI) Q1 2018 Earnings Conference Call - Preliminary Transcript

May 09, 2018 • 04:30 pm ET


ICU Medical, Inc. (NASDAQ:ICUI) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Good day, ladies and gentlemen, and welcome to the First Quarter 2018 ICU Medical, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this call is being recorded.

I would now like to introduce your host for today's conference John Mills with ICR. Mr. Mills, you may begin.

John Mills

Thank you. Good afternoon, everyone, thank you for joining us today to discuss ICU Medical's financial results for the first quarter ended March 31, 2018. On the call today representing ICU Medical is Vivek Jain, Chief Executive Officer and Chairman; and Scott Lamb, Chief Financial Officer.

We have a presentation accompanying today's prepared remarks, and to view the presentation, please go to our investor page at, click on the Events Calendar, and it will be middle of your screen.

Before we start our prepared remarks, I want to touch upon any forward-looking statements made during the call, including beliefs and expectations about the company's future results. Please be aware, they are based on the best available information to management and assumptions that are reasonable. Such statements are not intended to be a representation of future results and are subject to risks and uncertainties. Future results may differ materially from management's current expectations. We refer all of you to the company's SEC filings for more detailed information on the risks and uncertainties that have a direct bearing on operating results and the financial position.

Please note that during today's call, we will also be discussing non-GAAP financial measures, including results on an adjusted basis. We believe these financial measures can facilitate a more complete analysis and greater transparency into ICU Medical's ongoing results of operations, particularly when comparing underlying results from period-to-period. We've also included a reconciliation of these non-GAAP measures in today's release and provided as much detail as possible on any addendums that are added back.

And with that, it's my pleasure to turn the call over to Vivek.

Vivek Jain

Thanks, John. Good afternoon, everybody. The first quarter of 2018 marked us owning Hospira Infusion Systems for a full year, and we are balancing our time between active customer dialogues to improve our commercial execution and being deeply in the midst of an integration to create a single unified company. We continue to execute well through a large volume activity, and operationally, we make progress every day on integrating Hospira Infusion Systems.

Our last call was only short eight weeks ago and not that much is really new with the businesses. But on this call we did want to comment on the sequential changes in Q1 2018 from Q4 of 2017 and our current thinking around business performance trends, provide the status on our checklist of items we outlined in our January investor presentation in terms of what to expect in 2018 along with the integration work, explain our financial expectations for the near-term in 2018 and when