Tech Data Corp. (NASDAQ:TECD) Q1 2018 Earnings Conference Call - Preliminary Transcript

May 31, 2018 • 09:00 am ET


Tech Data Corp. (NASDAQ:TECD) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Good morning. Welcome to Tech Data Corporation's Fiscal Year 2019 First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question-and-answer session. (Operator Instructions) Today's conference is being recorded. If you have any objections, you may disconnect at this time.

Now I will turn the meeting over to Arleen Quinones, Vice President of Investor Relations. Ma'am, you may begin.

Arleen Quinones

Good morning and welcome to Tech Data's earnings conference call and webcast to review our financial results for the first quarter and fiscal year 2019. I am joined this morning by Bob Dutkowsky, Chairman and Chief Executive Officer; Chuck Dannewitz, Executive Vice President and Chief Financial Officer; and Rich Hume, Executive Vice President, and Chief Operating Officer.

For a detailed look at our first quarter results, please review our financial highlights summary slide presentation posted this morning on the IR portion of our website located at Unless otherwise specified, all growth comparisons made on today's call today relate to the corresponding period of the previous fiscal year.

Before we begin, I would like to remind all listeners that today's earnings press release and certain matters discussed on this call may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on the company's current expectations and are subject to risks and uncertainties.

These risks and uncertainties include but are not limited to those factors identified in the press release and in our filings with the Securities and Exchange Commission. Including those filings related to our acquisitions of Avnet's Technology Solutions business as well as our most recent annual report on Form 10-K which identifies important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements.

Please be advised that the statements made during today's call should be considered to represent the expectations of management as of the date of this call. The company undertakes no duty to update any forward-looking statements to actual results or changes in expectations.

Also, throughout this conference call, we will reference both GAAP and non-GAAP financial measures. Non-GAAP financial measures exclude certain items contained in our GAAP financial results. Detailed reconciliation between results reported in accordance with GAAP and non-GAAP financial measures can be found in the press release and on the Investor Relations portion of our company's website.

Please note that during today's call, we will refer to the Technology Solutions business acquired from Avnet on February 27, 2017 as Technology Solutions, or as TS. We have provided certain estimates of pro forma sales growth rates based on combining the standalone operating results of Tech Data and Technology Solutions for the month of February 2017, prior to the acquisition date.

This pro forma information is provided for informational purposes only and does not represent what actual results would have been had the acquisition been completed at the beginning of the prior fiscal year, and it is not necessarily