RigNet, Inc. (NASDAQ:RNET) Q4 2019 Earnings Conference Call - Final Transcript

Mar 05, 2020 • 11:00 am ET


RigNet, Inc. (NASDAQ:RNET) Q4 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, welcome to RigNet's Fourth Quarter 2019 Earnings Conference Call. My name is Victor, and I will be your coordinator for today. [Operator Instructions]

I will now turn over the presentation to Lee Ahlstrom, RigNet's Senior Vice President and Chief Financial Officer. Mr. Ahlstrom, please proceed.

Lee M. Ahlstrom

Thank you, Victor, and good morning and welcome to RigNet's fourth quarter and full year 2019 earnings call.

A copy of our earnings press release with supporting schedules, including schedules which reconcile the non-GAAP metrics we'll discuss today to the appropriate GAAP metrics, is posted to our website, www.rig.net, under our Investor Relations page. For those of you who would like the release in PDF format, we've posted that as well.

Before we get started, I'd like to make you aware that we will be making forward-looking statements today. Any statements that are not historical facts, including statements related, but not limited to, market expectations, future plans and aspirations, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include, but are not limited to, risks associated with the general nature of the oil and gas industry, customer and other third-party interactions, our strategy and other factors detailed in the Risk Factors section of RigNet's most recent annual report on Form 10-K and in our other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. RigNet disclaims any duty to update the information presented on this call.

And now I'd like to turn the call over to Steve Pickett, RigNet's Chief Executive Officer and President. Steve?

Steven E. Pickett

Thank you, Lee.

Good morning, everyone, and thank you for joining us on today's call. We're quite pleased to be reporting our fourth quarter and full year 2019 results. With me today, of course, is Lee, our CFO; and a new addition to our team, Errol Olivier.

I've known Errol for a number of years, and I was excited to bring him on to the team as our Chief Operating Officer. He started with us at the beginning of the year. Errol brings a wealth of experience from his career in remote communications as well as some tremendous customer and industry relationships. He's responsible for sales, marketing, our global network operation centers, service delivery management and our bids and proposals teams. This role, which combines our customer-facing functions under one umbrella, will not only improve our consistency in delivering the highest quality and reliability of service to our customers, but also allows other members of the senior management team to refocus their efforts on their areas of expertise.

Errol, welcome. It's great to have you on the team.

Errol Olivier

Thanks, Steve.

I really appreciate your warm welcome and flattering introduction. It's great to be here. For the past few years, I've engaged in a number of strategic advisory assignments, which gave me the opportunity to better understand what's going on in the industry from an