Avaya Holdings Corp (NYSE:AVYA) Q4 2018 Earnings Conference Call - Final Transcript

Dec 04, 2018 • 08:30 am ET


Avaya Holdings Corp (NYSE:AVYA) Q4 2018 Earnings Conference Call - Final Transcript


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Good morning. My name is Matthew and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Third Quarter Fiscal 2018 Earnings Conference Call.

All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. (Operator Instructions) Thank you.

Peter Schuman, Senior Director of Investor Relations, you may begin your conference.

Peter Schuman

Welcome to Avaya's Q4 fiscal year '18 investor call. Jim Chirico, our President and CEO; Pat O'Malley, our SVP and CFO; Shefali Shah, our CAO and GC and Gaurav Passi, Avaya's President of the Cloud Business Group are here for today's call.

The earnings release, CFO commentary and investor slides referenced on this call are accessible on the Investor page of our website and the SEC website and should aid in your understanding of Avaya's financial results. We will reference non-GAAP financial measures and specifically note that all sequential and year-over-year comparisons reference non-GAAP numbers, except where otherwise noted. A reconciliation of such measures to GAAP is included in the earnings release and investor slides and is available on the Investor page of our website.

(Forward-Looking Cautionary Statements)

Couple of notes upfront; first, as a reminder, unless otherwise indicated, all financial results discussed on this call are non-GAAP and exclude our networking business revenue for all periods divested in Q4 2017 and references to year-to-date results on this call will be on a combined basis. Reconciliations from GAAP to non-GAAP are included in the earnings release investor slides and CFO commentary and are also available on the Investor page of our website.

Second, when referencing Q3 FY '18, Q4 FY '18, it refers to fiscal year 2018 and Q1 FY '19, it refers to fiscal year 2019 and will be referred to as Q3 and Q4 or Q1 unless otherwise noted.

I will now hand the call over to Jim.

James Chirico

I'm very pleased with our results and first and foremost, I'd like to thank our global team. I am so proud of the work that they've put into making Q4 and FY '18 a success.

Taking a look at FY '18, we not only further our goals around predictability and credibility by delivering results in line with guidance, but more importantly, we have built velocity and momentum in our business and to make strategic investments that have yielded results and set the foundation for our future growth and continued success.

These include changing our trajectory towards revenue growth, building a new pipeline of products and solutions with significant shift of R&D investments to cloud and emerging technologies, assembling a management team of industry-leading executives and redoubling our focus on being a customer-led organization, resulting in higher customer satisfaction, increased win rates as well as improved renewal rates.

We have confidence in our strategy. We are successfully executing it and FY '18 was proof positive that we are on the right path and creating long-term sustainable value. Without going into every detail, here are