Healthstream Inc. (NASDAQ:HSTM) Q3 2018 Earnings Conference Call Transcript

Oct 23, 2018 • 09:00 am ET


Healthstream Inc. (NASDAQ:HSTM) Q3 2018 Earnings Conference Call Transcript


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Good day, ladies and gentlemen, and welcome to the HealthStream Third Quarter 2018 Earnings Conference Call. At this time all participants are in a listen-only mode. Later we will conduct the 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, Ms. Mollie Condra, VP, IR and Communication. Ma'am, you may begin.

Mollie Condra

Thank you, and good morning. Thank you for joining us today to discuss our third quarter 2018 results. Also in the conference call with me are Robert A. Frist, Jr., CEO and Chairman of HealthStream; and Gerry Hayden, SVP and CFO.

(Forward-Looking Cautionary Statements)

So, with that start, I'll turn the call over to Bobby Frist.

Robert Frist Jr.

Thank you. Good morning, and welcome to our third quarter 2018 earnings call. We have a lot of news to cover, as we dive into the numbers and look at the accomplishments of the quarter. But before we do that, I'd like to recognize one thing that occurred in the quarter that I'd like to discuss. In our earnings release issued yesterday, we announced that our CFO, Gerry Hayden, has tendered his resignation from the company. He will remain in his position as CFO to the filing of our Form 10-K for the full year 2018, which we expect to occur in March of 2019.

The Board of Directors will always see a process to fill the CFO position working with me and the rest of management. Following Gerry's departure as CFO, Scotty Roberts, our Vice President of Finance and Accounting, will serve as Interim CFO. Scotty is a CPA, who joined the company 16 years ago after working at Ernst & Young. As Gerry's prodigy, Scotty has broad experience in financial reporting and financial operations, making him an ideal Interim CFO and a candidate to fill the position permanently.

All of us at HealthStream want to thank Gerry for his tremendous service in the company for over a decade as our CFO. And then, actually he served for three years prior to that period on our Board of Directors, and we're grateful for that service as well. His leadership and financial expertise have played an important role in our growth as we've successfully navigated the company through many opportunities. He has built, led an outstanding Accounting and Finance department and team, and he's mentored a strong bench of financial talent that will serve the company well for many years to come.

Gerard Hayden

Thank you, Bobby. It's been an honor to serve the company as CFO over the last decade and work with everyone here at HealthStream. I look forward to wrapping up the year and including my tenure at HealthStream, it looks good getting up 10-K filed, as Bob mentioned, next March.

After that time, I'm working as a Senior Executive Adviser, working closely with Scotty Roberts to ensure a very smooth transition. He's very capable and well qualified to step into the