Anika Therapeutics Inc (NASDAQ:ANIK) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 05:00 pm ET


Anika Therapeutics Inc (NASDAQ:ANIK) Q2 2020 Earnings Conference Call - Final Transcript


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Thank you for standing by. This is the conference operator. Welcome to the Q2 2020 Anika Therapeutics Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Kristen Galfetti, Executive Director of Investor Relations. Please go ahead, ma'am.

Kristen P. Galfetti

Thank you, Carl. Good evening, everyone, and thank you for joining us. With me today on the call is Dr. Cheryl Blanchard, President and Chief Executive Officer; and Sylvia Cheung, Chief Financial Officer of Anika. During today's call, Cheryl and Sylvia will review Anika's second quarter 2020 financial results and key business highlights, which are summarized in our earnings release today. A copy of the earnings release is available on the Investor Relations section of our website at In addition, a slide presentation is posted on our website in the Investor Relations section under the Events & Presentations tab. We invite you to take a moment now to open the file and follow the presentation along with us.

Please turn to Slide 2. Before we begin, please remember that certain statements made during this conference call constitute forward-looking statements as defined in the Securities Exchange Act of 1934. These statements are based on our current beliefs and expectations, including statements with respect to impacts of the COVID-19 pandemic on Anika. These statements are subject to certain risks and uncertainties. The company's actual results could differ materially from any anticipated future results, performance or achievements. Please also see our SEC filings for more information about factors that could affect our results.

Certain financial measures we will discuss on this call are non-GAAP financial measures. We believe that providing these measures helps investors gain a more complete understanding of our results and is consistent with how management views our financial performance. A reconciliation of these non-GAAP financial results to the most comparable GAAP measurement, calculated and presented in accordance with the U.S. GAAP, is available in the Investor Relations section of our website.

I will now turn the call over to our President and CEO, Dr. Cheryl Blanchard. Cheryl?

Cheryl Blanchard

Thank you, Kristen, and good evening. We hope that everyone joining us on this call remains in good health, while we continue to navigate this ever-shifting landscape. Our thoughts and gratitude remain with all the committed healthcare workers around the world, who are on the front lines and selflessly taking on this global pandemic.

As this is our first full quarter call to report since I became President and CEO, I am delighted to share that the Anika team executed extremely well against both internal and external expectations. As expected, the suspension of elective procedures due to COVID had a material impact on our business. Despite the COVID environment, we generated positive top-line and bottom line performance, and surpassed aggressive organizational goals, including integration milestones, all in the environment of a global pandemic. That cross-functional execution underscores the ability of our team to adapt, overcome situational barriers and find new ways to deliver increased value to our customers, shareholders and