PC Connection, Inc. (NASDAQ:CNXN) Q4 2018 Earnings Conference Call Transcript

Feb 07, 2019 • 04:30 pm ET

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PC Connection, Inc. (NASDAQ:CNXN) Q4 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon, and welcome to the Fourth Quarter 2018 Connection Earnings Conference Call. My name is Daniel, and I will be the coordinator for today. At this time, all participants are in listen-only mode. Following the prepared remarks, there will be a question-and-answer session. As a reminder, this conference call is the property of Connection and may not be recorded or rebroadcast without specific permission from the Company. On the call today are Tim McGrath, President and Chief Executive Officer; and Steve Sarno, Senior Vice President and Chief Financial Officer.

I will now turn the call over to Steve Sarno.

Executive
Stephen Sarno

Thank you. I will now read our Safe Harbor statement for today's call, which is also on Page 2 of the webcast slides being presented today as part of our call. Our Slides for today's call will also be made available in the Investor Relations section of our website after the call at www.connection.com. Any statements or references made during the conference call that are not statements of historical fact may be deemed to be forward-looking statements. Various remarks that management may make about the Company's future expectations, plans and prospects constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995.

Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31st, 2018, which was filed earlier today and is on file with the Securities and Exchange Commission, as well as in other documents that the Company files with the commission from time-to-time.

In addition, any forward-looking statements represent management's view as of today and should not be relied upon as representing views as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so even if the estimates change and therefore you should not rely on these forward-looking statements as representing views of any date subsequent to today.

During this call, GAAP and non-GAAP financial measures will be discussed. A reconciliation between the two is available in today's earnings release and on the company's website at www.connection.com. Please note that unless otherwise stated, all references to fourth quarter 2018 comparisons are being made against the fourth quarter of 2017. Today's call is being webcast and will be available on Connections website. The earnings release, along with the supplemental slides presented are also available on our website. The Form 10-K is available, both on the SEC website at www.sec.gov and in the Investor Relations section of our website at www.connection.com.

Before we begin today's review of our Q4 operating results, I'd like to spend a few minutes to remind you of the Company's adoption of the new revenue recognition standard and how it is impacting the reporting of our Q4 results. As of January 1st,