Waters Corporation (NYSE:WAT) Q1 2019 Earnings Conference Call Transcript

Apr 23, 2019 • 08:00 am ET

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Waters Corporation (NYSE:WAT) Q1 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning. Welcome to the Waters Corporation First Quarter 2019 Financial Results Conference Call. All participants will be in listen-only mode until the question-and-answer session of the conference call begins. This conference call is being recorded. If anyone has objections, please disconnect at this time. It is now my pleasure to turn the call over to Mr. Bryan Brokmeier, Head of Investor Relations. Please go ahead, sir.

Executive
Bryan Brokmeier

Thank you, operator. Good morning, everyone, and welcome to the Waters Corporation first quarter earnings conference call.

Before we begin, I will cover the cautionary language. During the course of this conference call, we'll make various forward-looking statements regarding future events or future financial performance of the Company. In particular, we'll provide guidance regarding possible future income statement results of the -- for the -- of the Company for the second quarter and full year 2019. We caution you that all such statements are only predictions, and that actual events or results may differ materially. For a detailed discussion of some of the risks and contingencies that could cause our actual performance to differ significantly from our present expectations, see our Annual Report on Form 10-K for the fiscal year ended December 31st, 2018, in Part 1 under the caption Risk Factors and the cautionary language included in this morning's press release and 8-K.

We further caution you that the Company does not obligate or commit itself by providing this guidance to update predictions. We do not plan to update predictions regarding possible future income statement results, except during our regularly scheduled quarterly earnings release conference calls and webcasts. The next earnings release call and webcast is currently planned for July 30th, 2019.

During today's call, we will be referring to certain non-GAAP financial measures. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures are attached to our earnings release issued this morning. In our discussions of the results of operations, we may refer to pro forma results which exclude the impact of items such as those outlined in our schedule titled Reconciliation of GAAP to Adjusted non-GAAP Financials, included in this morning's press release.

Unless stated otherwise, references to quarterly results increasing or decreasing are in comparison to the first quarter of fiscal year 2018. In addition, unless stated otherwise, all year-over-year revenue growth rates, including revenue growth ranges given on today's call are given on a comparable constant currency basis.

Now I'd like to turn the call over to Chris O'Connell, Waters' Chairman and Chief Executive Officer. Chris?

Executive
Christopher J. O'Connell

Thanks, Bryan, and good morning, everyone.

Thank you for joining us today. Along with Bryan Brokmeier, joining me on this morning's call is Sherry Buck, Waters' Chief Financial Officer. During today's call, I will provide an overview of our first quarter operating results as well as some broader commentary on our markets and business. Sherry will then review our financial results in detail and provide comments on our second quarter and full year 2019 financial outlook. We will then open