Q4 2012 Earnings Call Transcript

Transcript Call Date 02/22/2013

Operator: Greetings. Welcome to the Gardner Denver Fourth Quarter 2012 Financial Results. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host Vick Kini, Vice President of Investor Relations. Thank you, Mr. Kini. You may now begin.

Vikram U. Kini - VP, Investor Relations: Thank you, Rob, and good morning, everyone. Gardner Denver's fourth quarter results were released earlier this morning and a copy of the release is available in the Investors section on our website at

Before I turn the call over to Michael Larsen, President and CEO for Gardner Denver to discuss our Q4 results, I'd like to remind you that any statements made by Gardner Denver during the call that are not historical in nature are to be considered forward-looking statements. These forward looking statements are subject to a number of risk factors and uncertainties that may cause the Company's actual results to differ significantly from expectations.

A detailed discussion of the risks and uncertainties that may affect our future results is contained in Gardner Denver's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and subsequent quarterly reports on Form 10-Q. These statements are made only as of the date of this call and Gardner Denver disclaims any intention or obligation to update or revise any forward-looking statements. I will also refer you to the investors section of for the reconciliation of any non-GAAP financial measures including adjusted EPS and adjusted operating margins used during this conference call.

We will begin with some prepared remarks and then open it up for questions. As a reminder this call is being broadcast in listen-only mode through a live webcast. This free webcast will be available for a replay up to 90 days following the call through the investor relations page on Gardner Denver website at or through the Thomson StreetEvents site at

Now I would like to turn the meeting over to Michael.

Michael M. Larsen - President and CEO, CFO and Director: Thanks Vick and good morning everyone. We are pleased with our strong finish to 2012 and fourth quarter results that exceeded our expectations in terms of revenues and margins allowed us to achieve record adjusted due to earnings per share for the full-year. For the full-year 2012 sales were essentially flat at $2.4 billion, orders were $2.2 billion down 11% as expected, adjusted operating income was down 2% and adjusted diluted earnings per share ended at $5.74, a 4% increase over 2011. Our fourth quarter results illustrates the momentum that we exited the year with as we achieved sequential growth across a number of measurements. Orders in the fourth quarter were $515 million, a 7% sequential increase versus the third quarter. Orders in the fourth quarter of 2011 were $598 million. Q4 order trends were encouraging particularly in December where we saw across the board strength. The good momentum has carried into the first quarter of 2013 and halfway through the quarter orders are up 8% sequential versus the fourth quarter. Backlog at the end of the fourth quarter was $526 million and gives us reasonable visibility out over the first six months of 2013.

Read our Earnings Call Transcript disclaimer.
Add a Comment
E-mail me new replies.