Safeguard Scientifics, Inc. (NYSE:SFE) Q3 2019 Earnings Conference Call Transcript

Nov 07, 2019 • 09:00 am ET

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Safeguard Scientifics, Inc. (NYSE:SFE) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning and welcome to Safeguard Scientifics' Third Quarter 2019 Financial Results Conference Call. [Operator Instructions]. I would now like to turn the conference over to John Shave Safeguard Investor Relations. Please go ahead.

Executive
John E. Shave

Good morning and thank you for joining us for this update. Joining me on today's call and webcast are Brian Sisko Safeguard's President and CEO; and Mark Herndon Safeguard's Senior Vice President and CFO. During today's call Brian will provide a corporate and strategic update and review recent highlights including development at Safeguard and our partner companies and Mark will discuss our financial results. Afterwards we will open it up to your questions. As always today's presentation includes forward-looking statements and those statements are subject to risks and uncertainties. These risks and uncertainties that could cause actual results to differ materially include among others our ability to make good decisions about the monetizations of our partner companies for maximum value or at all and the return of value to our shareholders; the ongoing support of our existing partner companies; the fact that our partner companies may vary from period to period; challenges to achieving liquidity from our partner company holdings; fluctuations in the market prices of any publicly traded company holdings; competition; our ability to attract and retain qualified employees; market valuations in sectors which our partner companies operate; our inability to control our partner companies; our need to manage our assets to avoid registration under the Investment

Act of 1940; and the risks associated with our partner companies including the fact that most of our companies have a limited history and a history of operating losses face intense competition and may never be profitable the effect of economic conditions in the business sectors in which Safeguard's partner companies operate and the uncertainties described in our filings. Many of these factors are beyond the company's ability to predict or control. As a result of these and other factors the company's past financial performance should not be relied on as an indication of future performance. During the course of today's call words such as expect anticipate believe and intend will be used in our discussion of goals or events in the future. Management cannot provide any assurance that future results will be as described in our forward-looking statements. We encourage you to read Safeguard's filings with the SEC including our Form 10-K which describe in detail the risks and uncertainties associated with managing our business. The company does not assume any obligation to update any forward-looking statements made today.

With that here is Brian.

Executive
Brian J. Sisko

Good morning and thank you for joining us. We have continued to do in 2019 what we started to pursue early in 2018. We have returned an aggregate of over $184 million back to our balance sheet since we began pursuing this strategy by being patient and opportunistic. We have now reached a meaningful milestone in the execution of this strategy. We have repaid our debt and currently we have cash of approximately $45.5