VeriFone Systems Inc PAY
Q1 2013 Earnings Call Transcript

Transcript Call Date 03/05/2013

Operator: Good day, ladies and gentlemen, and welcome to the First Quarter 2013 VeriFone Systems Earnings Conference Call. My name is Derrick, and I'll be your operator for today. At this time, all participants are in a listen-only mode. We shall facilitate a question-and-answer session at the end of the conference. As a reminder, this conference is being recorded for replay purposes.

I will now like to turn the conference over to Mr. Doug Reed, Senior Vice President, Treasury and Investor Relations.

Doug Reed - SVP, Treasury and IR: Thank you, Derrick, and welcome everyone to the VeriFone financial results conference call for the first quarter of fiscal year 2013. Today's call is being webcast with both audio and slides available via the link in the Investor Relations area of our website and a recording will be available on our website until March 12, 2013.

We encourage those on the phone to access the webcast in addition to or instead of dialing in because the slides can be helpful. With me today in VeriFone's San Jose, California headquarters is our CEO, Doug Bergeron and our CFO, Marc Rothman.

First for the legalities; VeriFone desires to take advantage of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain forward-looking statements in this conference call, including management's view of future events and financial performance are subject to various factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. For a description of these factors, I refer you to our filings with the Securities and Exchange Commission. Any forward-looking statements speak only as of today and VeriFone is under no obligation to update these statements to reflect future events or circumstances.

In addition, today's call will cover certain non-GAAP financial measures on both historical and forecast basis. Our management uses these measures to evaluate our operating performance and to compare our results to those of prior periods, as well as to those of peer companies. Please note that VeriFone expects to continue to incur types of income and expense items that are excluded from the non-GAAP results discussed today.

These non-GAAP measures are not substitutes for disclosures made in accordance with GAAP. Reconciliations of these measures to the most comparable GAAP measures are presented in our earnings release, which is available on our website.

Please note that on today's call, we will be referring to the non-GAAP measures of revenue, gross margins, operating expenses and earnings per share. During management's presentation, your line will be in listen-only mode. At the conclusion of the presentation, there will be a question-and-answer session. Instructions on how to signal for a question will be given by the moderator at that time. The duration of this call is approximately one hour. So, we'll take one question and one follow-up per person and move on to the next caller.

Now, I would like to turn the call over to Doug Bergeron, CEO of VeriFone.

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