Perficient Inc. (NASDAQ:PRFT) Q3 2019 Earnings Conference Call Transcript

Nov 07, 2019 • 11:00 am ET

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Perficient Inc. (NASDAQ:PRFT) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen thank you for standing by and welcome to the Quarter 3 2019 Perficient Earnings Conference Call. [Operator Instructions]

I would now like to hand the conference over to your speaker today Mr. Jeff Davis Chairman and CEO. Please go ahead sir.

Executive
Jeffrey S. Davis

Thank you this is Jeff Davis. With me on the call today is Paul Martin our CFO; and Tom Logan our COO. I want to thank you for your time this morning and as typical we have got about 10 to 15 minutes of prepared comments after which we'll open up the call for questions. Before we proceed Paul would you please read the safe-harbor statement.

Executive
Paul Martin

Thanks Jeff and good morning everyone. Some of the things we will discuss in today's call concerning future company performance will be forward-looking statements within the meanings of the securities laws. Actual results may materially differ from those discussed in these forward-looking statements and we encourage you to refer to the additional information contained in our SEC filings concerning factors that could cause those results to be different than contemplated in today's discussion. At times during this call we will refer to adjusted EPS. Our earnings press release including a reconciliation of certain non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with generally accepted accounting principles or GAAP is posted on our website at www.perficient.com. We've also posted a slide deck which includes a reconciliation of certain non-GAAP guidance to the most directly comparable financial measures prepared in accordance with GAAP on our website under Investor Relations. Jeff?

Executive
Jeffrey S. Davis

Thanks Paul. Well once again thanks for joining. We're pleased to be with you this morning to discuss our third quarter results. Coming to the year we communicated our expectations that 2019 will be a strong year and that's certainly been the case through the first 3 quarters. We're building our momentum and we're confident that fourth quarter will put an exclamation point on milestone year for provision. As you saw in the release we're again raising guidance. There are a variety of factors powering our performance some external but many of which are in our control and we believe sustainable. Obviously there's some benefit from a macro wins in our back. And of course there's a long-term force of digital transformation at play something in our view is a permanent reality now for enterprises not a trend or anything cyclical.

The new normal to thrive in many instances survive is a state of confident level. However we're confident that we're well positioned to outperform in any market environment because of the DNA of our firm the strategic decisions we've made in recent years and the investments we're continuing to make now. At our core forward flexible fluid and evolving always balancing our focus on what's now and what's next. A great example of that is our ability to do business which is now approaching $100 million business that practice didn't even exist a few years ago and