Avid Technology Inc (NASDAQ:AVID) Q4 2018 Earnings Conference Call Transcript

Mar 14, 2019 • 05:00 pm ET


Avid Technology Inc (NASDAQ:AVID) Q4 2018 Earnings Conference Call Transcript


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Good day and welcome to the Avid Technology Q4 Earnings Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Whit Rappole, Vice President of Investor Relations for Avid Technology. Please go ahead.

Whit Rappole

Thank you, operator. Good afternoon, everyone, and thank you for joining us today for Avid Technology's Fourth Quarter and Full-Year 2018 Earnings Call. My name is Whit Rappole, Avid's Vice President, Corporate Development and Investor Relations. With me this afternoon are Jeff Rosica, Chief Executive Officer and President; and Ken Gayron, Chief Financial Officer and EVP. Jeff will provide a strategic overview of our business and then Ken will provide a detailed review of our financial and operating results, followed by Q&A. We issued in our earnings release earlier this afternoon and we have prepared a slide presentation that we will refer to on this call. The press release and presentation are currently available on our website at ir.avid.com, and a replay of this call will be available on our website for a limited time.

During today's call, management will refer to certain non-GAAP financial metrics and operational metrics. In accordance with Regulation G, the appendix to our earnings release and our investor website contain a reconciliation of the most closely associated GAAP financial information to the non-GAAP measures and definitions for the operational measures used on this call and in the presentation. In addition, certain statements made during today's presentation contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our comments and answers to your questions on this call as well as the accompanying slide deck may include statements that are forward-looking and that they pertain to future results or outcomes. Actual future results or occurrences may differ materially from these forward-looking statements. For more information, including a discussion of some of the key risks and uncertainties associated with these forward-looking statements, please see our press release issued today and our 10-K filed with the SEC.

With that, I will turn the call over to Jeff to start the call.

Jeff Rosica

Great. Thanks, Whit. And for those of you who haven't met him yet, I hope you will soon. He is really a strong addition to our team as the Head of our Avid's Investor Relations. So, thanks everyone for joining us on our call today. I'll say that I believe that Avid's results are beginning to show strong evidence that our business and financial performance are improving according to our plan. Along with our CFO, Ken Gayron, I'll provide some insights into the progress we've made last year and the new steps we're taking, all of which we believe support the potential for good value creation and -- for our investors.

So, let me get started with my prepared remarks today. First, I'll offer my observations on the important foundation we put into place during 2018 and that is our new senior leadership team, the progress they've delivered and the better position Avid