Columbia Sportswear Company (NASDAQ:COLM) Q4 2018 Earnings Conference Call Transcript

Feb 07, 2019 • 04:15 pm ET

Previous

Columbia Sportswear Company (NASDAQ:COLM) Q4 2018 Earnings Conference Call Transcript

Share
Close

Loading Event

Loading Transcript

Presentation
Operator
Operator

Greetings, and welcome to Columbia Sportswear Company's Fourth Quarter and Fiscal Year 2018 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.

(Operator Instructions) As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Andrew Burns, Director of Investor Relations. Please go ahead.

Executive
Andrew S. Burns

Good afternoon, and thanks for joining us to discuss Columbia Sportswear Company's fourth quarter results and 2019 outlook. In addition to the earnings release, we furnished an 8-K containing a detailed CFO commentary explaining our 2018 results and the assumptions behind our 2019 outlook. This CFO commentary is also available on our Investor Relations website investor.columbia.com.

With me today on the call are; Chairman of the Board, Gert Boyle; President and Chief Executive Officer, Tim Boyle; Executive Vice President and Chief Operating Officer, Tom Cusick; Senior Vice President and Chief Financial Officer, Jim Swanson; and Executive Vice President and Chief Administrator Officer, Peter Bragdon.

Gert will start us off by covering the safe harbor reminder.

Executive
Gertrude Boyle

Good afternoon. This conference call will contain forward-looking statements regarding Columbia's business opportunities and anticipated results of operation. Please bear in mind that forward-looking information is subject to many risks and uncertainties and actual results may differ materially from what is projected. Many of these risks and uncertainties are described in Columbia's Annual Report on Form 10-K and subsequent filing with the SEC.

Forward-looking statements in this conference call are based on our current expectations and beliefs and we do not undertake any duties to update any of the forward-looking statements after the date of this conference call to conform that forward-looking statement to actual results or to changes in our expectations.

Executive
Andrew S. Burns

Thanks, Gert. I'd also like to point out that during the call we may reference certain non-GAAP financial measures including non-GAAP results which exclude the effects of the new revenue accounting requirement standards and insurance claim recovery benefit, program expenses and discrete costs associated with Project CONNECT, income tax charges associated with the Tax Cuts and Jobs Act as well as constant currency net sales growth.

You'll find a reconciliation of these non-GAAP financial measures to comparable measures reported under US GAAP in the supplemental information tables that accompany our earnings release, along with an explanation of management's rationale for referencing these non-GAAP financial measures.

Following our prepared remarks, we will host a Q&A period during which we will limit each caller to two questions so we can get to everyone by the end of the hour.

Now, I'll turn the call over to Tim.

Executive
Timothy P. Boyle

Thanks, Andrew. Welcome everyone and thanks for joining us this afternoon. 2018 was a tremendous year for Columbia Sportswear and I'm thrilled to see it end on a high note with record fourth quarter financial results that significantly exceeded our expectations.

Our success across both wholesale and DTC channels around the world highlights that our brand-led consumer focus strategy is fueling market share