Keysight Technologies, Inc. (NYSE:KEYS) Q2 2020 Earnings Conference Call - Final Transcript

May 26, 2020 • 04:30 pm ET

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Keysight Technologies, Inc. (NYSE:KEYS) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen and welcome to the Keysight Technologies Fiscal Second Quarter 2020 Earnings Conference Call. My name is Robert and I will be your lead operator for today. After the presentation, we will conduct a question-and-answer session. [Operator Instructions] Please note, today's conference is being recorded today, Tuesday, May 26th, 2020 at 1:30 PM Pacific Time. I would now like to hand the conference over to Jason Kary, Vice President, Treasurer and Investor Relations. Please go ahead, Mr. Kary.

Executive
Jason Kary

Thank you and welcome everyone to Keysight's second quarter earnings conference call for fiscal year 2020. Joining me are Ron Nersesian, Keysight's Chairman, President, and CEO and Neil Dougherty, Keysight's Senior Vice President and CFO. Joining us in the Q&A session will be Mark Wallace, Senior Vice President of Worldwide Sales and Satish Dhanasekaran, President of the Communications Solutions Group. You can find the press release and information to supplement today's discussion on our website at investor.keysight.com. While there, please click on the link for Quarterly Reports under the Financial Information tab. There you will find an investor presentation along with Keysight's segment results. Following this conference call, we will post a copy of the prepared remarks to the website.

Today's comments by Ron and Neil will refer to non-GAAP financial measures. We will also make references to core growth, which excludes the impact of currency movements and acquisitions or divestitures completed within the last 12 months. You will find the most directly comparable GAAP financial metrics and reconciliations on our website. We will make forward-looking statements about the financial performance of the company on today's call. These statements are subject to risks and uncertainties and only valid as of today. The company assumes no obligation to update them. Please review the company's recent SEC filings for a more complete picture of our risks and other factors. Lastly, I would note that management is scheduled to participate in upcoming virtual investor conferences in June hosted by Baird, Bank of America, and Stifel. And now, I will turn the call over to Ron.

Executive
Ron Nersesian

Thank you, Jason and thank you all for joining us. First and foremost, we hope that you're all staying safe and well and our thoughts are with everyone affected by the coronavirus pandemic. The world has faced unprecedented challenges over the past several months and I would like to thank all of our employees for their continued dedication and commitment to Keysight, our customers, and our partners. Our execution and results this quarter underscore the power of our balance sheet, business model, and our Keysight leadership model, which drives our unique high performance culture and guides our company to continuously delivering greater value to customers, shareholders, and employees.

I'll focus my formal comments today on three key headlines for the quarter. First, the health and safety of our employees is our top priority. After acting quickly to temporarily close most of our global locations in mid-March and implementing risk mitigation measures in response to the pandemic, we