Exela Technologies, Inc. (NASDAQ:XELA) Q1 2020 Earnings Conference Call - Final Transcript

Jun 30, 2020 • 05:00 pm ET

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Exela Technologies, Inc. (NASDAQ:XELA) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day and welcome to the Exela Technologies First Quarter 2020 Financial Results Conference Call and Webcast. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to Will Maina, Investor Relations. Please go ahead.

Executive
William Maina

Thank you, Sean. Good afternoon, everyone and welcome to the Exela Technologies first quarter 2020 conference call. I'm joined here by Ron Cogburn, Exela's Chief Executive Officer; and Shrikant Sortur, our Chief Financial Officer. Following the prepared remarks made by Ron and Shrikant will take your questions. Today's conference call is being broadcast live via webcast, which is available on the Investor Relations page of Exela's website at exela.com. A replay of this call will be available until July 7, 2020. Information to access the replay is listed on today's press release, which is also available on the Investor Relations page of Exela's website.

During today's call, Exela will make certain statements regarding future events and financial performance that may be characterized as forward-looking statements under Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks and uncertainties and are based on current expectations and assumptions. We undertake no obligation to update any statements to reflect the events that occur after this call, and actual results could differ materially from any forward-looking statements. For more information, please refer to the risk factors discussed in Exela's most recent filed periodic report on Form 10-K, along with the Associated Press Release and the company's other filings with the SEC. Copies are available from the SEC or the Investor Relations page of Exela's website.

During today's call, we will refer to certain non-GAAP financial measures. We believe these non-GAAP financial measures provide additional information on how management views the operating performance of our business. Reconciliations between GAAP and non-GAAP results we discuss today can be found in the Investor Relations page of our website. Please note the presentation that accompanies this conference call and investor fact sheet are also accessible on the Investor Relations page of our website.

I would now like to turn the call over to our CEO, Ron Cogburn. Ron?

Executive
Ron Cogburn

Good afternoon and thanks everyone for joining us today. I'm pleased to announce that we filed our Form 10-Q for the three months ended March 31, 2020 last evening. We are now current on all of our reporting requirements to the SEC and under our debt agreements, and we expect to be a timely failure going forward. I want to thank our finance and legal teams for all their hard work in completing this process.

I will begin with an overview of our first quarter 2020 results, business highlights and current trends. I'll then turn the call over to Shrikant Sortur for more detailed review of our Q1 performance and to discuss our second quarter and 2020 outlook. After Shrikant's presentation I will come back and talk about our priorities for 2020 and some recent