Good afternoon, ladies and gentlemen, and welcome to the 2013 Fourth Quarter and Year-end Conference Call. It is now my pleasure to introduce your host, Mr. Scott Turicchi, President of j2 Global. Thank you. Mr. Turicchi, you may now begin.
Robert Scott Turicchi - President
Thank you very much. Good afternoon, and welcome to the j2 Global’s investor conference call for the fourth fiscal quarter of 2013. As the operator just mentioned, I'm Scott Turicchi, the President of j2 Global, and with me today is Hemi Zucker, our CEO; and Kathy Griggs, our CFO.
This continues to be a very exciting time for j2. During the call we will discuss our Q4 2013 and full-year financial results, provides you an update on our business segments and introduce adjusted earnings and EPS as well as provide 2014 financial guidance. I will remind you that our Board has also increased the quarterly dividend to a payout ratio of $0.2675 per share. We will use the presentation as a roadmap for today's call. A copy of which is available at our website. When you launch the webcast, there is a button on the viewer on the right-hand side which will allow you to expand the site of the slides. If you have not yet received a copy of the press release, you may access it through our corporate website at j2global.com/press. In addition, you will be able to access the webcast from this site.
After we complete the formal presentation, we will conduct a Q&A session. The operator will instruct you at that time regarding the procedures for asking a question. However, at any time, you may e-mail us question at investor@j2global.com.
Before beginning our prepared remarks, I will read the Safe Harbor language. As you know, this call and the webcast includes forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from the anticipated results. Some of those risks and uncertainties include, but are not limited to the risk factors that we have disclosed in our SEC filings, including our 10-K filings, recent 10-Q filings, various proxy statements and 8-K filings, as well as the additional risk factors that we've included as part of the slide show for the webcast. We refer you to discussions in those documents regarding Safe Harbor language, as well as forward-looking statements.
Before turning the presentation over to Kathy, let me address adjusted diluted EPS. Beginning now in the four fiscal quarter of 2014 -- 2013 in order to provide better insight and clarity in their operations, we will be presenting adjusted diluted earnings and adjusted diluted earnings per share. Adjusted diluted EPS is a non-GAAP financial measure calculated by excluding from net income, the impact of share-based compensation, amortization expense and certain significant items that are non-operational or non-recurring in nature, in each case net of tax.
We believe that these measures provide relevant and useful information to investors and other users of financial data and evaluating the effectiveness of our operations and online business trends. More specifically a few return to Slide 4. You will see adjusted EPS compared to non-GAAP EPS. The main difference between the two is the amortization of intangibles related to our mergers and acquisition program.
As you can see in fiscal year 2009, about 6% of our non-GAAP EPS included amortization related to historic M&A views. And it’s about $0.11 per share that year. In the most recent fiscal year just concluded that grew to 15% of our non-GAAP EPS or $0.42 per share. We believe this percentage is likely to increase as we accelerate both the pace of our M&A program and the average size of the transactions.
I'll now turn the presentation over to Kathy, to discuss the financial results in further detail.
via:http://seekingalpha.com/article/2021341-j2-globals-ceo-discusses-q4-2013-results-earnings-call-transcript?source=feed
No comments:
Post a Comment