Exela Technologies, Inc. (NASDAQ:XELA) Q2 2019 Earnings Conference Call Transcript

Aug 08, 2019 • 05:00 pm ET

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Exela Technologies, Inc. (NASDAQ:XELA) Q2 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon, and welcome to the Exela Technologies Second Quarter 2019 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would like to turn the conference over now to Mr. Jim Mathias. Please go ahead, sir.

Executive
Jim Mathias

Thank you, Nancy. Good afternoon, everyone, and welcome to the Exela Technologies' second quarter 2019 conference call.

I'm joined here today by Ron Cogburn, Exela's Chief Executive Officer; and Jim Reynolds, our Chief Financial Officer. Following prepared remarks made by Ron and Jim, we will take your questions.

Today's conference call is being broadcast live via webcast, which is available on the Investor Relations page of Exela's website, exelatech.com. A replay of this call will be available until August 15, 2019. Information to access the replay is listed in today's press release, which is also available on the Investor Relations page of Exela's website.

During today's call, Exela will make certain statements regarding future events and financial performance that maybe characterized as forward-looking under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks and uncertainties and are based on current expectations and assumptions. We undertake no obligation to update any statements to reflect the events that occur after this call, and actual results could differ materially from any forward-looking statements.

For more information, please refer to the risk factors discussed in Exela's most recently filed periodic report on Form 10-Q, along with the associated press release and the Company's other filings with the SEC. Copies are available from the SEC or the Investor Relations page of Exela's website.

During today's call, we will refer to certain non-GAAP financial measures. We believe these non-GAAP measures provide additional information on how management views the operating performance of our business. Reconciliations between GAAP and non-GAAP results we discuss on today's call can be found on the Investor Relations page of our website.

As a reminder, financial results discussed on today's call reflect pro forma combined company results for the business combination of SourceHOV Holdings and Novitex Holdings, which closed on July 12, 2017. Please note, the presentation that accompanies this conference call and investor fact sheet are also accessible on the Investor Relations page of our website.

I would now like to turn the call over to our CEO, Ron Cogburn. Ron?

Executive
Ron Cogburn

Thanks, Jim. Good afternoon, and thanks everyone for joining us today. Let's start with Slide 4 and discuss our Q2 2019 financial summary. We formed Exela just two years ago, and since that time, we have worked on executing a significant and exciting transformation of our combined business. This journey includes a number of notable achievements and positive data points, the results of which I will discuss in conjunction with my review of our Q2 2019 results.

Enabled by Exela's proprietary technology, our formula for transformation starts with human capital and then