CMD - Earnings call transcript Q3 2019

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Operator

Greetings and welcome to Cantel Medical Corporation Third Quarter of Fiscal Year 2019 Earnings Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions].

As a reminder this conference is being recorded. pleasure your my Mr. now is to host introduce It Relations. FP&A Matt of Investor Micowski, VP and Thank begin. you you, may

Matt Micowski

Thank you, Corporate Accounting President, Chief Officer; and Financial Operating Board; Michelle Executive call and and Brian Yellin, we and Executive Officer. Vice good Corporate morning Senior Chuck Chief Blakeman, Capone, Chairman Vice everyone. President Senior Diker, and of Peter the Officer; George Chief Shaun Seth President Vice have Fotiades, Clifford, Controller Officer; Chief On and Vice Strategy Senior President, Development; President today’s and

press Earlier third this morning, release XXXX. the announcing fiscal of financial company the issued for a results year the quarter

In Relations This on be we complement found posted with section to website references presentation today’s presentation the in under can addition, Cantel’s call. Presentations. Investor a reconciliations have supplemental along of non-GAAP

I conference this and filings statements without Such begin, results are the detailed everyone, we All call projected. statements Exchange risks in may would may limitation, and actual like predictions remind forward-looking the forward-looking only from Securities uncertainties, reports including, those with materially statements. risks involve to that differ and Commission. Before the and contain company’s

forward-looking company today’s GAAP most release. comparable share debt. earnings Reconciliations net directly and non-GAAP measurements of in gross Presentation our contained per is measures Earnings from Release. non-GAAP EBITDAs, references and earnings measurements, financial non-GAAP financial to diluted The Additional in operations, call the concerning will information non-GAAP making statements profit, be the also Supplemental on are to these income non-GAAP today’s financial provided

CEO. to President introduce to Fotiades, I’m and With that, George pleased you,

George L. Fotiades

Thank you, Good Matt. all. morning

segment very expected had to third consistent positive revenue quarter was guidance. our of quarter The revenue XX.X% growth organic On the organic a with The dental with year-on-year. and growth medical our X.X%. in returned earlier came as segment strong whole

key from destocking the chemistry. of a shortage meaningful a the a inventory by first on and which was Now impacted this half is recovery year

to strong the Looking ahead quarter sequentially the this towards near this our should year. point unusually an Life with dental to low quarter we negative more year-over-year sciences business however, the flat expected, will we estimate business quarter prior past the fourth indicates analysis be as grow due moves than quarter-over-quarter performance ended stabilizing.

weakness second fourth will of we half continued the expect in quarter we growth year, are the fiscal but next We to in this of that modest return encouraged year.

spend I exactly the get a that speaking public alignment people do we done. to in most the focus this specifics on the get leadership and internally third to right existing what's day with I comments to jobs I Before we my talent would the taken to developments outset to as the the on at said ensure and to I wanted could on we this get In rely past Cantel as place Cantel. more team knew fast of I to three I a months quarter and important since became get minutes work foremost well been and right first has into It performance, other has during CEO, few want quarter. lot

by we Spicer aspects was Canada. office Europe. who In she's Officer in excellent to APAC coordinating past the Chief outstanding separate of Casner who moving instrumental to our was Blewitt is several brings Jean of President Michael our segment. international medical is U.S. in successfully the years promoted two in of now led appointed our one our Canada Mike an Europe Mike President and our all strengthened endoscopy done addition been entire Human business Neil commercial corporate these customer In job to in from now chief leading segment leadership has appointments. McGrath on is has success to APAC. over Resources the UK now to the Outside medical focus and architect and President. the focus

opportunities with me the including effort, Operating know more appointments he organizational leadership the operational our time Peter's of to around two to and has his the you excellence. And now to And recent even we and development. more strong gives Officer new more brings company. strengthen operating organic sitting Also well to Cantel to with are call assumed drive table our most command model Peter focus appointment M&A, role the on Peter's leadership our plan and me the for product Peter operational of business growth of devote Chief and Clifford

Blakeman. we role CFO our the financial senior and of was Shaun CFO Medtronic medical segment. the at most into recently are back that was prior welcoming Peter Shaun Following role in a to

Now back. of to while to my happy promotions ignoring all from within sojourn that previously have him said Shaun's keep our are as conveniently intact I to pledge Medtronic we're

a our Peter, in talent As to to career terrific similar is a operational great Shaun focus with finance finance the grew which strong in compliment his up organization.

represents and and for this these leadership our change got While executives well-respected familiar their of people, accomplishments. all lot are a within, to to you've remember from

this allows of in to terms us of So transition. step not speed miss a

scope the there the were some during changes of other developments quarter. leadership Beyond important

an of product completed have our We key assessment priorities. new

as we confidence process of timeliness resources a more the As more result and gain moving in REVOX this we are potential technology. this of to

future product and core our segment enhancements including growth lines. focusing procedural product medical on chemistry drive that also equipment, are our We products, in

begin talk about As these we will to we further more make progress developments.

in expanding steps U.S. process our our in York. around our our Life New with revenue address cost supply to initiatives business dental our sites several manufacturing we are the cost performance. in business operations also Science capability and improving align consolidating to are taken In Rochester structure. There We've chain by

will ultimately to funds success. development contribute to up key While our it performance support these are of actions frees which initiatives all also margin product to long-term

of in the made have our medical assessment in progress water alternatives We significant strategic business.

as specifics has in to been. ever next the weeks. is M&A more a work Concurrently to communicate as We little be more have do our expect and to few it productive able pipeline

have on bring that promising fits prevention and prospects The scale both our reprocessing the in to our medical support that opportunities infection with focus vision. are larger and dental long-term expertise strong workflows. in markets We strategic is

have away of in get key our we continue to move the this decided on business through transparency discussing drivers annual will terms Finally for will the vision year five set story. guidance provide continue we guidance quarter's a as to target. to growth allow when strong as around next from transparency to that And look earnings Instead updates its call. numerical well forward company we providing strategic we to

will of time before last that transitions results Peter weeks Shaun Peter. Okay one us this discuss joined since financial a with only to Shaun. he responsibility couple ago

Peter Clifford

Thanks came XXXX line a George a XX.X% and consolidated basis the X.X% increased and in was basis a FX by XQ XQ walk good Gross our on top elements was X.X% constant and M&A versus XX.X% morning the year sales XXXX. basis. prior gross year-over-year versus of sales The currency for margins margins Organic net at everyone. X.X%, basis points On contracted consolidated X.X%, XXX where headwind points. to in XXX in quarter, GAAP Net

by investments drivers a dilution and on of was basis previously ERP the year-over-year margins cost we the core the basis REVOX. dilution. The contracted non-GAAP service of of margins points in gross XX points were primary for non-GAAP livable project contracted announced these our our our adjusted APAC impact basis XX when year-over-year. wage gross While XXX operational recast points Note actions

was the strategic leadership GAAP increase Operating X.X X.X taken key costs roughly impact XX.X XXXX. the positions coupled related restructuring and million the expenses related quarter investment from in for REVOX XX.X% there livable actions million our XQ op profit acquired higher by expenses, XX.X% XXXX dilution acquisition the though planned increased of This million amortization, actions purposeful decreased balance related few prior in to was roughly aligned GAAP GAAP items or resulted Op for The quarter, in acquisitions investment from an compared -- changes expenses of XX.X depreciation, or X.X%. and operating costs year-over-year continued driving in to wage impact or XX.X%. and profit in impact The the million XQ that with initiatives. were was our with year. year-over-year restructuring senior

key decreased and these points REVOX, investments ERP approximately previously to XXX on increase, livable The of impact profit profit non-GAAP our basis continued The headwind. op wage were project. reinvestment XX.X% announced year-over-year in non-GAAP XX.X was million. Our drivers op

in of Our of effective unfavorable compensation the the to price. tax EPR for to executive GAAP impact to year quarter share prior This non-deductibility tax for related expense change result the the rate XX.X%. as XX.X% driven quarter, a and related restructuring as in decrease the compensation a the quarter by compared stock of our is excess of primarily rate activities was

drivers of quarter came the prior tax the the EPS On as were XX.X% partially a quarter was of rate basis quarter, to offset in EPS income rate year-over-year change GAAP provided statutory which benefit at our a federal $X.XX. by non-GAAP the mix to Key compared the year the foreign rate decreased for our for impact effective in XX.X% operations. of XX.X%. during

rate discussed GAAP borrowings result the op interest of expense environment. a the to In dilution increased as related current profit earlier addition commentary to and we higher our incurred

million. from Note down against as Cash XQ XX.X quarters. we the to XX.X While in we our cash customer the disruption consciously part EBITDAS inventory which $X.XX, non-GAAP operations, to approximately adjusted year-over-year EPS next previously came quarter buffer on $X.XX. from X.X% investments EBITDAS discussed million base the impact of quarter, in came flow for in decreased ops early to the line increased XQ over at our few year-over-year. the was Adjusted flow at the expect X%

the our into XX.X Now XX.X% medical provide op profit XXX.X while our sales Organic for our million op for results, non-GAAP profit grew million. segment was to insight to XX.X% quarter increased increased XX.X%, to million. XX.X let's year-over-year XX.X% the some GAAP segment

for decreased segment quarter Organic sales Sciences year-over-year the Life our declined million. For XX.X XX.X%. to XX%

profit our the we quarter George in water op X.X XX.X% cost increased Note medical structure backlog million non-GAAP driven by while actions our the Lastly decreased with GAAP investment to profit REVOX profit previously op X equipment. non-GAAP X op million taken in XX.X% revenue our decreased quarter X.X our incremental and decreased environment align to million. third the mentioned to as XX% new water for have division.

while GAAP quarter previously profit decreased the X.X segment by adjustments material X.X% For XX.X% profit livable -- X.X our to dental million inflation. op non-GAAP decreased primarily wage was sales to XX.X organic op X.X%, million announced or increased XX.X to for million, driven XX.X% and the year-over-year

quarter For segment the to year-over-year our for X.X% X.X dialysis million. sales decreased

or Our decreased op profit decreased non-GAAP profit XX% our GAAP XX%. op

Now few and hit I'd liquidity like sheet balance details. to

million, net our adjusted our ended is significant ended sites. balance to with the our in equivalents, XXX.X down Capital million which costs XXX.X cash were key and that Our cash working now the quarter strong in expenditures debt gross with remains two quarter capacity. at million and sheet net the million, debt is million our XXX.X We XX.X live XX.X SAP debt reflects we've X.XX. ramp EBITDAS in at gone capital,

guidance announced grow acquisitions our to continue range In X%, at FX the we XX%, X%, point of for the business anticipate revenue at of at will dental of X.X% headwind. growth basis X% XX We dispositions be the of prior the the and of terms headwind of at flat the estimate and year. growth to approximately end will medical business organic remainder lower year with

units the high guided Due water larger the single-digits in than trend business the quarter. for the decrease the will in for mid While to amount this of deferrals segment decrease have single-digits year. experienced to we third the previously expected we central in Life Sciences

total to guided on and EPS previously non-GAAP range lower to XXXX $X.XX listening. end the our we $X.XX GAAP $X.XX. of a $X.XX year Finally Thank fiscal for you our anticipate of EPS of

the the reminder we As a at XX-Q filing end our will week. be of

to questions. We some are ready take

Operator

[Operator Instructions].

your James. with comes Our of Raymond first Keusch the from question question. with Larry line Please proceed

Larry Keusch

Okay, and everyone. morning great, good thanks

So that understand the if just I that obviously the first question the to a implied why? the performance quarter guidance for really would trends in I guess the we've was medical of thinking in But guess about I continued seen suggest quarters. and the deceleration in am business it is trying correctly nice fourth three quarter prior again I'm so the a sort

Peter Clifford

flat quarter. first expect XQ year-over-year sequential Larry. dental quarter fourth in to our would fourth Sciences from comp closer we by an And basis in but the in quarters. in to the organic Yeah, XQ our year-over-year. we it's would on business dental flat in But toughest year view growth medical would being to implied going be dental to likely profile as expect quarter three the Life centered on similar almost far is fourth exclusively our again the the We

Larry Keusch

you. And Okay, perfect. other I two for just questions guess

still to business broadly. steps your you there are some to one. investors, Life review would Then anticipate how First you're obviously out making be through, that business you left is one medical something done, water and quarter on that working Science that? or a that is to or I conclusion comes had of the until come you what working the on, of mentioned George What are waits once you separate aware that other fourth announcement

George L. Fotiades

start Yeah, the here. with I'll in end mind

I think what a XXXX. into to to for to doing is -- and we're our our clear be fiscal quarter outlook what also fourth with be our sense expectation we're of factor at able call that year

back on we foremost are So first the and to thing get business that's happening the now this track. managing answer. What's is

of it but of sales the that have we and same mindful a service. done mentioned strong of we're Peter at As the time national aspect sizing base ensuring right we've

a the that's of feature key business. So

with The second one working returning as on quite expectation we've a our to of long-term. agreement have is and with modest evaluate long-term cyclicality the characteristics and customer. issue the This confidence and same about growth at time At with day us where we demand far business the this multi-year customer robust get bottom the been discussions second done a to continue what more of and and owner we we another. insight one thing we granularity is the we've are end the of demand with the we best a the great reached and an to again develop was some to of the in-sourcing half forecast short-term gives think business we're customers as of But related obviously to year. more in

a we've what future much standpoint few in going weeks clearer looks volume the the of gotten I from -- a picture what last our forward. think like

for we're again think in be XXXX. from next position three a I year how the the But place few about through cost fiscal putting think our the in this I our work repeat impacts better to will here we talking just structure weeks now getting place as expectations and long-term. months the way

Larry Keusch

a greater more warrants last that product for couple to And continuing George is and REVOX in one Okay, your you that then indicated perfect. you've think mentioned times got comments I invest me again just you some confidence in in that prepared investment.

recently same sort is we confidence of to that So we what commercial what of timeline have revenues that in again question real see additional that to kind I learned gives thinking this? that sort can you guess where should of which again about you make of launch off for product a be start some investments a and

George L. Fotiades

products, to our we're Yeah, an is money from so first new of doing of investment reprioritizing moving really what point one view spend in REVOX. place from so all we're the

that continues relates will So incrementally point but to really be ETO won't of confidence what number what sort kind with respect there REVOX trying what alternatives and we've are about timing to it situation and of will in what from are The to Clearly quite anxious and view. materialize. evolve customers to particular. understand additional got these the of of apprehensive be the it for a the externally current future

design. machine So strides we in that's has the their is for obviously as of make been market developing asking in what focus as is in the driving particularly optimize to opportunity our this That's more and what to continue the terms is well now I confidence requirements. what more commercial think where

two but in looks maybe years of point over situation of at -- months months. assumption meet from promise horizon we XX timing under deliver sort under where it this we're the this is think do I to a that operating the is we that's that what and outside like. a view like From But would XX the

Larry Keusch

Okay, appreciate perfect. thoughts. much, very all Thanks the

Operator

Thank you.

comes of Capital Our Mishan your Markets. question. proceed line with the next question from Matthew with KeyBanc Please

Matthew Mishan

and Peter. George questions the taking for thanks Great,

George L. Fotiades

you this are Hey Matthew, how morning.

Matthew Mishan

Good, be, out that does that could how from business. far How Sciences from thinking you're I'll with the It be process or I how be start is good. seem guess separate business pretty to like along Thank could or reallocated that of that dental potentially we about should medical to Life in off the it you. clean be be -- would segment? pretty a it op there would would and carve that reallocated synergies associated costs be isolated income with here.

Peter Clifford

our structures. would share mean reallocated There are is three cost outside a in all it distinct divisions around individual pretty across But distinct where tied manufacturing. to It I really structure all the modest we rule their three the divisions. cost that overlap do and of get of mostly it's but is general not substantial. our of chemistry is our have is businesses, some that generally cost

Matthew Mishan

like business full the given strategic how is to point guess be work acquisitions And you that the time? you but prevention player needs about to I endoscopy? over priorities enable lot in to that infection be then manufacturing for been you there longer at this you portfolio integration it's look And service similar the talk then a can dental of missing through consolidating term. guys built you're done a could the various what are at

George L. Fotiades

Look obviously and that good three lot very number as last look Yeah, a of answer well we he's acquired probably business of I'll from point let four I'll of part of in because a spent to we've on growth years. answer the Seth revenue over assets it have view a this. this time

this past. more these job the I in opportunity what good a the but us being affords biological to them which It's I real a of couple there individual we think Accutron, really so have than these new internationally We've develop Europe. to great Omnia done taking products great weeks a opportunity take think space, there's enthusiasm products more indicators, in to these into I some building about focus have lot around was of Omnia with assets is now a we've our in-line is Crosstex and treatment management, a we of there's water operation, got able just do. ago. aggressively for

our the think which taking will meaningful with So with is far manufacturing obviously as current but fairly a portfolio. I Rochester. And of distribution considerably within structure lot to both our the our as we're step platform supply chain today concerned upside with a center got move we've our upgraded be also cost

to well to allow potentially you So if as margins comment to this itself. try Seth want to the will our continue portfolio handsome to protect us all about a and go as as we forward. at

Seth Yellin

goal and elements actively a I bring that in see potential fruition. very to develop improved the our great developed to I think really with we're working closed really dental to medical the dental to lot circle enhance in and offerings that in strategy continue to strategy where to we've that cohesive similar really our offer now working space, outcomes manage and successful suite complex we offering for aspirational loop, can opportunity strategy in provide efficiency complete long-term drive to protection see we but opportunity a dental complete circle been and create what great in caregivers. we have there. product unique of of We've and medical is the that develop to the workflows a to safe the ability understand space. suite it Right specific customers the to both patients environments maximize reprocessing And our think

Matthew Mishan

to the been last those and opportunity bring that products and couple medical, procedural markets international the what's use over for years? in last what's to the back me, products there holding Okay single question on

Peter Clifford

procedures the market procedures XX%ish the would XXs procedures about of really side that be single and kind reality on the I in think probably when U.S. as opportunity deeper potential. and think third the in we dealing Yes, we'd an the still a opportunity the exists hospital of is U.S. Europe party pace ACS. sort regulatory and XXs of as with been number low right. number the sort Europe at it's Europe, penetrated less used leaders and has example. of is a the challenge same in of U.S. so the of in set of on happen We terms in as have our of in think the mid the procedures you And the use you're as the Obviously Obviously bodies. valve think influencing bodies penetration less much at governing thought

there on party usually body move in are it having So to regulatory less is from market perspective. to side want that or each have European impact to somebody the bodies. you an local influence although if governance you're third in you regulatory not easy moving local market a And

are top that is to side now where pivoting this sale. drive is we So here resources that more help summer,

we've really And spent sail, last trained, above. from help structures. pods up to right folks now right know more and the the You the try getting field in and in the bottom refining sell years two the we're pivoting

Matthew Mishan

much you George Peter. thank Alright, very and

Operator

Thank you.

proceed Our of Company. comes Mike next the with Please question & Needham from line question. your with Matson

Mike Matson

Good tracings? for kind improve from single-digit growth dental about I your distributor my good the still the ask there. you seeing Are see growth door customers business, morning. want at out to just taking questions. Thanks the mid of the to

George L. Fotiades

in prior distributors near robust. only sound year double-digit out remains had sequential from our growth XQ bite quarter is we our from Yeah, door growth see Again XXXX. there XQ. organic will XQ fourth we earlier the sales The the to the in

rates year to we lighter even prior year on and may year-over-year stack So feel the the sequentially fact look again a the basis. two order good grow about though will due we that it comp just

look quarter fourth like mid the think that our in of exactly single-digits. viewed business traditional I sort

Mike Matson

XXXX that sourcing any doesn't look Mexico what us have outlook the in with expanding. XXXX by you're would I any for tariffs? but potentially you know from if supplies Mexico or or materials the and be tariffs it plants increasing in you've don't and then like tariffs raw affected And you to the Chinese can for for factored guidance Okay. remind then just What's

Peter Clifford

two to that. so parts Yes,

anything China China tariffs. probably have year, been customers we wanted look that kind earlier it the of our from revenue this some in if look said, in ahead some buy So of of accelerated impacted we to

So we the had strong bids we businesses quarter the I that trying there's as very we're the us more Candidly still XXXX options half. It may at the -- seeing strong think was to it and growth to chase first well organic in on in look but other and supply a third very XXXX. drive pressure China. chain in are

recent scrambling in As X% far to million indication we the probably deal exposure it and million to as spend there's stuff sense Mexico currently of of sourced tariff there, to a probably that's the our but Mexico. we're eventually have annual we monetize that that or best quantify $X of is out book $XX

So penny penny terms if a stays kind at annually half for a you of tariff to as a headwind in it could probably it's But in place that on beginning we incremental as look a would of look of at types to XXXX as pressures. and at look price our sourcing that the ground hard initiatives actions to with offset projects well of those hold us. our

Mike Matson

Okay but just going I but question, I a opportunity because and rate, plans over final one other and to on down Thanks. just tax kind your plate, then lot reduce come of lot of there's any got your that cutting you've time? of so guess there know cut reinvestments or on it's know is I financial whatnot cost and tax a

Peter Clifford

rate. jurisdictions of XX looked opportunity profitable country businesses Two, be that arbitrage never only Look geographic lower become beginning more of the not continue be I'll could there the XX.X. now would road at naturally cost sort also initiatives tax XX.X% we're help at with tax we say year rate our here tailwind to our at really other of the year-to-date years. could as down points labor or are us was manufacturing guidance to and but coupled effective think so original manufacturing help there a couple our low the out as to cost us I obviously a our which a on look basis the next we mean one, tax reduce I we've there are based see international Yeah,

Mike Matson

Great, thanks lot. a

Operator

Thank you.

the question. Ramgopal Sidoti Company. your Our comes with from and next proceed of question Mitra with line Please

Mitra Ramgopal

of morning. if the in from as know was as busy out months however, good taking hi, talked settled we five look here Thanks get and Yes, has I you year you away it longer-term have George, I few know just should for be seeing questions. right about we the the been loss no as being any any what relates it or real now double-digit and terms business on would the underlying color mid fundamental maybe you more in are XX% here that see in digit, I wondering, single to growth longer business changes organic guidance, moving great?

George L. Fotiades

segment. I the more about growth rates by confident when actually feel you look

procedural rejuvenated I am in growth in of but You Technology confident so talked we whether selling the about our growth very in the past that doing are product know Khalili feel with growth bag, Officer with the has full continuing in Medical, the China, our and internationally terms in with plus in about the Spicer -- will penetration think I about that. working the growth think Daniel of we drivers when procedural to talking about support we and support products XX% been Chief product new What emphasis Mike we're Europe. appointment tandem the

Omnia dental this to In that are at track get short-term the is on some which as in challenging things Science again I to of long-term continues we a business think Life the market mentioned can again view the some our from point from we earlier as have to we look obviously Life I to there Well, but There's we mid-single-digit. recently that. I the that getting sales, internationally the entire do think this work opportunities. call some We the the to And back first look perform talked went but in business, the half. water in was about is business initiative of again talked about we year growth out we We do year single-digit. as expected. that we again we mean on. out lines of the a door in believe the we're challenges can through nothing acquired other think individual business address mid represent I of things we Science I on the characteristics continue business pushing

are were continues over the that predictability as long than acquisitions we've very doesn't -- ever about to been, of they different predictable I recognizing other have is to model. But in the that's days predict business or there hemodialysis active other feel deal things mentioned I to to to bullish with happen that the is our of feel what stages be has being difficult component The been as good challenges that respect obviously even said with about opportunities, learned in and short-term and our again to term consideration some when as XX as a it as about. It the be business. in again that past I the have talk that pipeline more

Mitra Ramgopal

are the any changes I very was to just as if Okay, competition it know helpful always acquisitions it more looking you and could are to thanks for valuations relates relates very probably you And I curious potentially address maybe in as I robust this, that it changes you noted, but seeing maybe at? any is pipeline, the Seth also mentioned color. guess as

Seth Yellin

Mitra. Thanks

assets for is think I it competitive a from and years value market. last for environment has healthy so depending on perspective the always a a many the it been need the

at and earlier, the financial the maturity. more you the And strategic some focus of is of our that larger the are said I as first some of looking especially and we fit said business. have higher potential on overall end of obviously as larger performance ranges, at and look valuation at scale George foremost So, acquisitions mean that assets

environment about in And evaluations so we we remain see that to think the And how despite execute. healthy acquisitions. plenty for of disciplined opportunity we to have us continue

Mitra Ramgopal

and Okay, that mentioned you to changes you earlier is George management it great. I personnel. several made And finally senior know relates as

on XXXX Just it your the a in place looking growth your really now you and to you quarter in is or with team feel at out now question one again? much now have go place now focusing driving pretty more comfortable

George L. Fotiades

company, as I we people getting consistently growth the sure some which developing feel talent in And to now. addressing are growth in apprehensively is me in focus positions as very at well the as it the looking of people. want the look great that the place. is confident companies should a these team best is deeper places table opportunity It is organization. be and great forward going are us. the We for in attract around great Executive everybody business long-term over a that the diversity Yeah, be is

management is things segments of the to leadership with But focus the So that where are place. is. our and the team really in respect

Mitra Ramgopal

Okay, thanks questions. again taking the for

George L. Fotiades

Thank you.

Operator

at Thank would this are management time. I to closing any no for turn you. There questions call further like remarks. the over back to

George L. Fotiades

on for on joining updating you. on progress you fiscal all as an us quarter forward The as call our morning. team thank this this the to you with fourth our looks for you XXXX. and Thank well management Again here outlook to call year provide

Operator

teleconference. you. concludes This Thank today's

your for this at time. day. lines and a participation your wonderful you disconnect have Thank may You

Matt Micowski	VP of FP&A, IR
George L. Fotiades	President and CEO
Peter Clifford	EVP and COO
Seth Yellin	EVP, Strategy and Corporate Development
Shaun Blakeman	SVP and CFO
Charles M. Diker	Chairman
Brian Capone	SVP, Corporate Controller and CAO
Larry Keusch	Raymond James
Matthew Mishan	KeyBanc Capital Markets
Mike Matson	Needham & Company
Mitra Ramgopal	Sidoti

Cantel Medical (CMD) 4 Jun 192019 Q3 Earnings call transcript