Interface Inc. (NASDAQ:TILE) Q1 2019 Earnings Conference Call Transcript

Apr 25, 2019 • 09:00 am ET


Interface Inc. (NASDAQ:TILE) Q1 2019 Earnings Conference Call Transcript


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Good morning. My name is Heidi and I will be your conference operator today. At this time, I would like to welcome everyone to the Q1 2019 Interface Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question-and-answer session. (Operator instructions).

Thank you. Christine Needles with Corporate Communications. You may begin your conference.

Christine Kneedles

Thank you so much, Heidi. Good morning and welcome to Interface's conference call regarding first quarter 2019 results hosted by Jay Gould, President and CEO and Bruce Hausmann, Vice President and CFO. During today's conference call all management remarks regarding Interface's business which are not historical information are forward-looking statements.

Forward-looking statements involve a number of risk and uncertainties that could cause actual results to differ materially from any such statements, including risks and uncertainties associated with the economic conditions in the commercial interiors industry and our expectations regarding our acquisition of Nora Systems as well as the risks and uncertainties discussed under the heading Risk Factors in Item 1A of the company's Annual Report on Form 10-K for the fiscal year ended December 30, 2018 which has been filed with the Securities and Exchange Commission.

We direct all listeners to that document. The company assumes no responsibility to update or revise forward-looking statements made during this call and cautions listeners not to place undue reliance on any such forward-looking statements. Management's remarks during this call also refer to certain non-GAAP measures. The directly comparable GAAP measures as well as the reconciliation of the non-GAAP measures to the most comparable GAAP measures is contained in the company's earnings release and Form 8-K filed with the SEC yesterday each of which can be accessed in the Investor Relations section of the company's website

Lastly, this call is being recorded and broadcasted for Interface. It contains copyrighted material and may not be re-recorded or re-broadcasted without Interfaces express permission. Your participation on the call confirms your consent to the company's taping and broadcasting of it.

Now, I'd like to turn the call over to Jay Gould, CEO.

Jay Gould

Good morning and thank you. Before we get began, I would like to draw your attention to the fact that in addition to filing our normal SEC 8-K with our earnings release, we concurrently filed another Form 8-K announcing an inquiry by the SEC into our Historical Quarterly EPS calculations and rounding practices during the period of 2014 to 2017. We also announced that our Chief Accounting Officer has gone on paid administrative leave, after it was learned that in 2018, in the process of collecting materials from 2015, 2016 and 2017 for productions to the SEC, he added certain after the fact notes to those materials that were then produced to the SEC. The company believes at this time however that the after in fact inclusions of these notes had no impact on the EPS calculations that are subject to the -- of the above described investigation.