INFU - Earnings call transcript Q1 2019 | InfuSystem Holdings, Inc.

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Operator

Good morning, everyone. And welcome to the InfuSystem Holdings Inc. reports First Quarter 2019 Financial Results Conference Call. All participants will be in a listen-only mode [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions [Operator Instructions]. event recorded. today’s note also is being Please At conference call I would turn the like to over this time, to Mr. Joe Dorame, Managing Partner. ahead. go Please

Joe Dorame

of Thank Officer the today's conclusion call company, President XX, press call first full XXXX. thank the representing And numerous prepared of not XXXX, After remarks, to session. from the the Officer. Financial of release, results Good us Chief a open and today's on joining Chief for quarter InfuSystem and Jamie. it or retrieve March ended other of If the for we'll Schulte, today financial financial the have review Dilorio, today can copy text you anyone call company's Inc. are websites. Holdings question-and-answer With you Greg www.infusystem.com, Rich which us Executive a website the participating on you, for morning. does at on the

with statements year Private constitute risks for begin within contain of the annual filed risk we Reform conference report statements on prepared and call meaning to forward-looking would may the like that December and XX-K XXXX. of Act detailed this including InfuSystem Litigation this XXXX. historical the Commission, of the of by Before ended team with the the made Securities XX, Exchange fact, the some everyone forward-looking during I certain call Securities the statements remarks, Except remind are statements company factors management of which conference by uncertainties, documents involve under and United for States Form

as assurance to undertake obligation result or specifically correct. of information, made. as otherwise. events statements only InfuSystem does statements whether any will any new a of prove the speak be were Forward-looking forward-looking The disclaims update statements, no company give such date future forward-looking that to not and statements the

turn President Officer InfuSystem. Dilorio, to and over to I'd of Now, Rich? the Executive Chief like call Mr. Rich

Rich Dilorio

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Operator

line you We're operator. please conference is for back should ask this experiencing Pardon speaker me, do that you We technical momentarily. patient. the remain we the difficulties, have

Rich Dilorio

back. it's Jamie, Rich Dilorio. We're Hey

Operator

Mr. through you are has read Dilorio, statements, can you're currently connected. so Mr. begin you Dorame whenever ready. his

Rich Dilorio

Jamie. earnings first good and And joining XXXX Thanks quarter Joe, morning, thank you call. InfuSystem for thanks And everybody.

ahead savings, prepare now like fiscal the which the begin, I cost almost And phenomenal work. XX% in us company their XXXX. the year efficiencies would been I that cash and led for full for years, InfuSystem to running team around thank first the flows we to Before hard at company. at reorient to two We've increase speed for of the believe lies growth operating we during for

to going Our exactly share opportunity this market is and oncology plan in gain planned. as advantage of

is competitor I results. But model, on for the remaining us. to of would QX an our this mentioned Schulte, over go like over the the Greg getting before entire in last creating largest is call, and for few a its business then it changing CFO, turn of to As highlights into review and opportunity exciting more process our I a that,

last quarter about share product begun pain both increased elastomeric from revenue as growth well the XX.X%, gains quarter, had sales. oncology, a to InfuBLOCK First, first our has as was we talked and market I’m of service pumps of in. the report which pleased result rolling we in growth In in growth

financials. quarter is sales first, the of news the that in our share Great market testament as impact first teams their process in hard Greg, review Second, in specifically XX.X% be I is a of oncology, yet I’m seen. quarter we're winning to progress still about will proud our But is speak and significant the more oncology. the will to the growth early efforts of that in work.

Greg Schulte

XXXX of on report Rich. first quarter you, very pleased to Thank I’m highlight financial the performance. our of

period. mentioned, As $X.X the ended million net prior quarter revenues XX.X% or increase year an $XX.X in for same of XX, XXXX were Rich March million, the

flexibility $X.X XXXX. XX, Rich. the for and million a ended Morgan out XX.X% marketplace. were previously was Our outflows amendment I loss the to XXXX. purchase partially quarter net mentioned by the or for expenses of to respectively. Net us offset to adjustments working to growth that expected need the XX.X% funds due year $X cash financial from to primarily any use same respond positive while current outflows partially representing Chase, hand our activities XXXX XX, the attributed in back growth, our profitability our internal which cash flows These from growth XX.X% net additional was completed March of our primary management operating debt of opportunities In cash prior quickly operating for revenues quarter February, by us ended us call a fifth to March period income, turn have Adjusted XX, for primarily up XX% net non-GAAP to XXXX, first for Improved measure give cash to effect increased the to our $X.X taking for vendor million, accounts the from to the $X.X activities. revenue capital in million versus our to $X.X agreement we on million with quarter. Accounts causes future finance to and will quarter in in for the million invest of of offset decrease due quarter $X.X ended to the of to the million XX, to XXXX receivable end growth, will increased on now are period Payable, credit unfavorable net after the income flows allowed related also we without was EBITDA, net support primarily JP allow March March same the

Rich Dilorio

Greg. Thanks,

oncology to on the growth Now, the like an us market. I’d everybody of front in on give update opportunity

in its is opportunity us. model changing is competitor significant oncology, a creating largest which Our for

being that our operations early process and short negatively term of demand. going from the to process still the quarter. share investing is profitability new according the in to to fleet statement start revenue is team, mentioned, our business begun first in the will market earning into begin With seen half second we XXXX the the meet expected carry as These our although plan. pump and XXXX. scale expected, in exactly as gains in investments additional we customers, material in the As The I affect hitting we’re income of

it and the this quarter-to-quarter term, the and shareholders. add business commitments, when long services we of new in The will now timing value to impact creation the drive customers. cash of profitability, impact phasing winning incremental The difficult our business. the predict Over revenue new cycle, of all higher we’re of our flow revenue makes substantial for business our higher customer nature

to InfuSystem However, to $XX XXXX. and our initial analysis to million is impact the annually, increase revenue EBITDA around shows approximately through $XX likely long million to improve term

XXXX answer and that to finalize process All our any of will With year. these questions. are we refine targets I'm just XXXX further continue upside move along as preliminary is for the numbers happy we being to and said, the plan significant, the we our we in feel in

Operator

the Ladies question-and-answer and gentlemen, [Operator session time, begin this we’ll Instructions]. at

go with DSW Douglas Investment. Our question. from Please first your today question Weiss ahead comes from

Douglas Weiss

give those through congrats operating the the a expense, are do that how cadence little in you year? see on on detail continued revenue. reflected of what Good you more the morning, flowing I and progress the already extent on investments. To wondered could operating if the

Greg Schulte

ahead to growth, first be expect board on second of revenues. quarter this as quarter operating we So and expenses we're continuing

incremental Second half of expect benefit the expenses to plus we get the year, revenues. operating the of

we expect first So of half the ahead operating the stay the revenues. expense year for for the to of

Douglas Weiss

you saying you’re sequential in next guess a see growth expense quarter? little operating I you some see --

Greg Schulte

not recently is traction into pick this revenue than both much more Probably QX… to expected up but towards order,

Douglas Weiss

among is is G&A that different… into or mostly dispersed the line the And going it

Greg Schulte

costs, we in the G&A have because cost There's ship just of small of and doesn't supply our quarter the which this [indiscernible]. costs to in timing line, see also some increases will to line, increases anticipate of just mostly but the most ahead supply in into need line in we selling expense, due the G&A revenues supplies we increases

Douglas Weiss

additional providers… mostly with it Is meet employees medical to

Greg Schulte

number, about to increased employees we planning XX XX to the have We've final revenues. of we're -- increased on increase support got

Douglas Weiss

of course year? the Over the

Greg Schulte

exactly. Yes,

Douglas Weiss

Are EBITDA you gave for maintaining guidance general you the still XXXX?

Greg Schulte

XXXX, revenue, get will it more Yes, little range the we the but a traction expect the expect because to the response. be will with to -- we little EBITDA in we've longer the EBITDA given, be guidance take what a

Douglas Weiss

rental break didn't sales you possible to then out and what those Is numbers. were? share the And it

Greg Schulte

sales product presentation X.X%, $X.X from this year -- to for we quarter. million, grew and to from purposes, this the business increase. million We more But commence at little million $X.X year want and XX% $XX.X pumps million other last rental $XX.X to just grew

Douglas Weiss

don’t pump little you guys you if just about little have -- any or your if -- pretty a you it could if about disposal competition benign. year talk have churn. two of I talk on And could Last was a seems way that know could aggressive a a there But tracking numbers you sales qualitatively? bit that you become do not, from actual like more track environment when question, from the could ago it you

Rich Dilorio

Doug, right. you're

is couple so effectively aggressive still biggest quite mentioned pretty we're of standpoint. hold that’s were watch as down are, elastomerics a don’t a biggest XXX% is bit. the last down competitor the U.S., their customer I changing two numbers And way that the but a The died or year died the we at almost single So manufacture in for on our that with over from retention obviously they model quarters. actually

Operator

at ladies like closing instructions] the over showing I'd conference management I’m turn [Operator to any additional back for no call time, And this remarks. gentlemen, to questions. and

Rich Dilorio

calls our would Have call InfuSystem is Jamie. forward looking today. day. great sharing like time This a joining for exciting Thanks I to thank our and an and future for everyone we’re to progress.

Operator

presentation. conclude call. thank today's you and joining do We gentlemen, today's that conference Ladies does for

You disconnect lines. may now your

InfuSystem (INFU) 14 May 192019 Q1 Earnings call transcript