Perspecta Inc. (NYSE:PRSP) Q4 2020 Earnings Conference Call - Final Transcript

May 21, 2020 • 05:00 pm ET


Perspecta Inc. (NYSE:PRSP) Q4 2020 Earnings Conference Call - Final Transcript


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Good afternoon and welcome to the Perspecta Fourth Quarter Fiscal Year 2020 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the conference over to Michael Pici, Vice President of Investor Relations. Please go ahead.

Michael Pici

Thank you. Welcome everyone to today's fourth quarter and full fiscal year earnings conference call. Presenting on the call today are Mac Curtis, our CEO, and John Kavanaugh, our CFO. Today's call is being webcast on the Investor Relations portion of our website, where you will also find the earnings release and financial presentation slides that we'll use for today's call.

Turning to Slide 2 of the presentation. Please note that during this call, we'll make forward-looking statements that are subject to known and unknown risks and uncertainties that can cause actual results to differ materially from anticipated results. For a full discussion of these risks and uncertainties, please refer to our SEC filings, including our latest Form 10-K. In addition, the statements represent our views as of today and subsequent events may cause our views to change. Though we may elect to update the forward-looking statements, we specifically disclaim any obligation to do so.

Finally, as shown on Slide 3, we'll discuss some non-GAAP financial measures that we believe provide useful information for investors. The slide deck for today's call includes reconciliations to the most closely comparable GAAP measure. At this time, it's my pleasure to turn the call over to Mac, who will begin on Slide 4.

Mac Curtis

Thank you, Mike and thank you all for joining us on this afternoon's call. I'm pleased to report that with strong operational performance in the fourth quarter, we completed another successful year. I'm extremely proud of the entire Perspecta team. We joined together to become one Perspecta and have delivered both outstanding financial results and customer mission success.

Now, let me start by saying we hope you and your families are all healthy and safe during these challenging times. We would like to thank all of the healthcare professionals, first responders and frontline workers that continue to work tirelessly to fight this disease. We are incredibly proud of the way our team has bonded together in response to this crisis and our performance reinforces my view that we have the most talented and dedicated employees in the industry. We remain committed to the health and safety of our employees and have taken steps to ensure that end.

Now, today I want to share four key messages. First, I'll discuss the actions we have undertaken in response to dealing with the COVID-19 pandemic and the impact on our business. Second, our excellent operational performance during the fourth quarter and fiscal year. Third, our continued strong business development results and, fourth, I'll provide you with a long term target and business update.

Turning to Slide 4, let me begin by expressing our heartfelt