Otelco Inc. (NASDAQ:OTEL) Q1 2019 Earnings Conference Call Transcript

May 09, 2019 • 11:20 am ET


Otelco Inc. (NASDAQ:OTEL) Q1 2019 Earnings Conference Call Transcript


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Good day, and welcome to the Otelco's First Q 2019 Earnings Conference call. Today's conference is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to Ms. Dru Anderson. Please, go ahead, ma'am.

Dru L. Anderson

Thank you, Brian and welcome to the Otelco conference call to review the Company's results for the first quarter ended March 31st, 2019. Today's call will begin with an introduction from Steve McCall, Chairman of the Otelco Board of Directors. Following Steve's comments, Rob Souza, Chief Executive Officer; Richard Clark, the new President of Otelco; and Curtis Garner, Chief Financial Officer of Otelco will offer remarks about the financial and operating results.

We also have a slide presentation posted on the Investor Relations section of the Company's website and management will be referring to these slides during today's call.

Before we start, let me offer the cautionary note that statements made during this call that are not statements of historical or current fact constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could have caused the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.

In addition to statements, which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms believes, belief, expects, intends, anticipates, plans or similar terms to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the SEC.

With that stated, I will now turn the call over to Steve McCall. Please, go ahead, sir.

Stephen P. McCall

Thank you, Dru. As we mentioned, we have just concluded Otelco's 2019 Annual (technical difficulty) shareholders and a number of the meeting participants are with us today, including members of our Board of Directors as well as investors, who attended the meeting. On behalf of our Board, I want to thank everyone for joining us today, both in person and those dialing in.

Following the prepared remarks, we'll take questions from the room in addition to questions from those of you listening in today. I would ask those in the room to please hold your questions until we complete the presentation.

As part of our first quarter press release, we announced that Rob Souza is planning to retire at the end of 2019. He has been part of Otelco's leadership team since October 2008, when the Company acquired the Country Road properties. He has more than 40 years of telecom experience, which he has used effectively over more than a decade with Otelco. I would like to thank Rob for his service and leadership.

Richard Clark was appointed President on May 1st and will add the title of Chief Executive Officer at the end of the year upon Rob's retirement. Richard brings not only recent telecom experience to the position,