Heska Corporation (NASDAQ:HSKA) Q4 2019 Earnings Conference Call - Final Transcript

Feb 25, 2020 • 11:00 am ET


Heska Corporation (NASDAQ:HSKA) Q4 2019 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Heska Corporation Fourth Quarter and Full Year 2019 Earnings Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. Jon Aagaard, Director of Investor Relations. Please go ahead, sir.

Jon Aagaard

Thank you, and good morning, everyone. Welcome to Heska Corporation's earnings call for the fourth quarter and full year of 2019. I am Jon Aagaard, Director of Investor Relations for Heska. Prior to discussing Heska's fourth quarter and full year 2019 results, I would like to remind you that during the course of this call, we may make certain forward-looking statements regarding future events or future financial performance of the company. We need to caution you that any such forward-looking statements are based on our current beliefs and expectations and involve known and unknown risks and uncertainties, which may cause actual results and performance to be materially different from that expressed or implied by those forward-looking statements. Factors that could cause or contribute to such differences are detailed in writing in this morning's earnings release, Heska Corporation's annual and quarterly filings with the SEC and elsewhere. Any forward-looking statements speak only as of the time they are made, and Heska does not intend and specifically disclaims any obligation or intention to update any forward-looking statement to reflect events that occur after the time such statement was made. We have with us this morning, Kevin Wilson, Heska's Chief Executive Officer and President; and Catherine Grassman, Heska's Chief Financial Officer. Mr. Wilson and Ms. Grassman will provide details surrounding the results reported, and then we'll open the call to questions.

At this time then, it is my pleasure to turn the call over to Kevin Wilson, Heska's CEO and President. Kevin?

Kevin Wilson

Okay. Thanks, Jon, and good morning, everybody. Today, we are pleased to report a great fourth quarter and a strong full year performance that met and exceeded key areas of our 2019 outlook that we presented this time last year. The details of these results are provided in this morning's release. For those of you who have followed Heska for some time, you will know that we work in five year plans, the first of which was from 2013 to 2018. In June of 2020, we will be exactly halfway through our current five year plan. As we approach this milestone, I'm encouraged that during this first half of our five year plan, we are on target to achieve all three rails of our announced initiatives. Our first major growth initiative is to double the addressable customers and geographies we serve. With the groundwork laid in 2019 and 2018, as we begin 2020, I'm proud that we have now built, acquired or obtained the right to acquire business geographies and markets that more than double Heska's reach in addressable customers.

Beginning in 2020, Heska will have longer reach and broader geographic diversity than many in our historical peer set of companies. We are thrilled with our advancements in the