NetScout Systems, Inc. (NASDAQ:NTCT) Q1 2020 Earnings Conference Call - Final Transcript

Aug 01, 2019 • 08:30 am ET


NetScout Systems, Inc. (NASDAQ:NTCT) Q1 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to NetScout's First Quarter Fiscal Year 2020 Results Conference Call. [Operator Instructions] Anthony Piazza, Vice President of Finance, and his colleagues at NetScout are on the line with us today. [Operator Instructions]

I would now like to turn the call over to Anthony Piazza to begin the company's prepared remarks. Please go ahead, sir.

Anthony Piazza

Thank you, operator, and good morning, everyone. Welcome to NetScout's first quarter fiscal year 2020 conference call for the period ended June 30, 2019.

Joining me today are Anil Singhal, NetScout's President and CEO; Michael Szabados, NetScout's Chief Operating Officer; and Jean Bua, NetScout's Executive Vice President and Chief Financial Officer. There's a slide presentation that accompanies our prepared remarks. You can advance the slides in the webcast viewer to follow our commentary. Both the slides and the prepared remarks can be accessed in multiple areas within the Investor Relations section of our website at, including the IR landing page under Financial Results, the webcast itself and under Financial Information on the quarterly results page.

Moving on to Slide number 3, today's conference call will include forward-looking statements. These statements may be prefaced by words such as anticipate, believe and expect and will cover a range of topics that are not strictly historical facts such as our financial guidance, our market opportunities and market share, key business initiatives and future product plans, along with their potential impact on our financial performance. These forward-looking statements involve risks and uncertainties, and actual results could differ materially from the forward-looking statements due to known and unknown risks, uncertainties, assumptions and other factors, which are described on this slide and in today's financial results press release as well as in the company's Annual Report on Form 10-K on file with the Securities and Exchange Commission.

NetScout assumes no obligation to update any forward-looking information contained in this communication or with respect to announcements described herein.

Let's turn to Slide number 4, which involves non-GAAP metrics. While this slide presentation includes both GAAP and non-GAAP results, unless otherwise stated, financial information discussed on today's conference call will be on a non-GAAP basis only. The rationale for providing non-GAAP measures along with the limitations of relying solely on those measures is detailed on the slide and in today's press release. These measures should not be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP.

Additionally, as a result of the sale of the HNT tools business, we will provide certain organic non-GAAP performance trends which remove HNT tools revenue for comparability purposes. Reconciliations of all non-GAAP metrics with the applicable GAAP measures are provided in the appendix of this slide presentation, in today's earnings press release and they are also on our website.

I will now turn the call over to Anil for his prepared remarks. Anil?

Anil Singhal

Thank you, Tony. Good morning, everyone and thank you for joining us. Let's begin on slide number six