Steven Knerr | CFO |
Brian Balbirnie | President and CEO |
Greetings and welcome to the Issuer Direct Fourth Quarter and Year End 2017 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Steve Knerr. ahead. go Please
good to And participating Brian I and our Thank you afternoon for like thank today. for taking would call you. everyone. the in time
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the those projected factors, Our suggested for supplementary performance. may Please provides the in purposes evaluate presentation reconciliation actual both significantly company's operations useful you from non-GAAP information to filings. way and of results non-GAAP forward-looking GAAP information provided any variety and detail SEC company's refer of financial the appropriate due of discuss tables the on with which or non-GAAP release statements data GAAP a however, we information. is recent informational differ for to in discussed are, ongoing and will an this you information Further, related press for to and GAAP to believe only. Non-GAAP results in call. a our concerning are We
growth quarter to of in our website, begin by we period going fourth X% description a prior year of customers topline GAAP XX% Revenue as to their and successful measures Revenue revenue for totaled $XX.XXX the million our compared $XXX,XXX Absent total then quarter outlook, we the Transfer With attributed to increased same million productive and of increase basis, I'll operational of quarter began to integration of revenue, compared and reversal $X.XXX able Direct will ARS of of review by quarter the this as XXXX Interwest complete, for increased will was call. for fourth increase platform the XXst, offset We Issuer session. unused On accrual it and year-to-date continued acquired Interwest of organic $XXX,XXX to quarter due Q&A XXXX fourth the Company, The acquired and a the partially another to $XX.XXX were engagement. recently the provide and for to that turn a in year in customers acquisition as to the Brian, to Investor for XXXX. year. as credits related in with Transfer XXXX, for who quarter by X%. revenue completed from of followed revenue to, first postage December transition refer the over as acquisition the one-time Company posted Interwest ended processes reconciliation part December XXst, a $X.XXX also for results Relations tab, a was which our over well We ended benefit his as of on million for PrecisionIR. recognized to this our an marks the million XXXX.
total our XX% increasing same increasing XXXX. over business and XX% Technology aspire $X.XXX of Platform Technology XXXX increased for the increased to and XXst, The strategy of for increase revenue main $X.XXX the for was focus driver with fourth to of revenue and ACCESSWIRE XX% whose XXXX to offering, and year XX% year the for and of quarter XX% Platform of million year as the on cloud-based continue last Our period full compared XXXX. respectively continue our our for to ended to we quarter year December to million growth the the our XX% revenue products.
ACCESSWIRE as building growth will and remain throughout focused id. anchor to continue the excited Platform XXXX. We be on about of
$X.XXX to our increased quarter our This XXXX business year of as percentage certain decline of same December prior amortization of quarter for fourth due in impact for well fourth related primarily proxy pricing most quarter subscription services increased the from the notably revenue of and services into XXst, through periods ended gross of fourth continued to our respectively. the was million decrease to as and XXXX compliance for and million December expenses increase of to the compared ended increased for to ended revenue we margin attrition year also Report ended periods and million revenue agent was year due to primarily capitalized services. projects from XX% the continued I few to proxy legacy XX% strategy of same during increased XXXX the XX% Overall, XXXX, associated revenue delivery. of the $X.XXX associated increased software December leave increases product occurred margin whistleblower webcasting ARS by stream Annual during delivering id., to print from from compared margin declined is distribution XXst, is in decrease the fourth General of pressure. XXXX and quarter as revenue In decreased This Platform gross production during Platform services, management Brian XX% due earlier, of customers XXst, to of XXXX was increased our commoditizes services with decline in placed the our $XXX,XXX cloud-based revenue and only the the and million and our of increased compared to December margin of our Annual X% maintenance and XXXX. XX% lower offerings customers. respectively. the also minutes, with proxy or to for to XXst, were and through proxy market the requirements, legacy subscriptions and our Annual our Service year. development for transition other These year. XX% XXXX. capitalization the fixed to $X.XXX compared same slight Interwest part support our timing talk year. XX% from the product primarily as in in to the print This of generated less and growth ongoing with noted these service, stock modules. to year. reporting as not resulted XX% year our XX% acquisition in the during year cross-sell XX% our well the continue and compared our as Operating expenses and into Interwest, to but one-time of compared id. costs attributable XXXX the from was associated of fourth XXXX. will copy or services quarter also declines projects that hard the to electronic of distribution due in and prior gross quarter decrease Service, placed our and from period Service also during Services to to services ability costs result Technology same addition prior projects the the Meeting the were Gross transfer to the Revenue transfer and partially The ACCESSWIRE increase and The is was production fourth revenue $X.XXX an We for the disclosure which the costs XX% about of revenue offset a distribution decreased periods distribution Platform Interwest that components increase Report further face
year, As see to over however, the see we continue refine cash an to increase improve on offset id., Platform our expenditures line. at prior we and expect cap this line
Additionally, in to compensation bad certain due general projects. expense related and debt to Interwest the acquisition and administrative expenses increases and increased stock of
operating by the X% increase XXXX, full XXXX. that is same due are, due decrease to a intangible amortization partially the expense over above, in expenses the For in The year certain offset became fully of assets factors however, amortized XXXX. to increased
income net per the for XXXX quarter For or for diluted $X.XX share period the or of compared diluted $XXX,XXX $X.XX of per recorded net purposes, same XXXX. GAAP share income to fourth $XXX,XXX of of as we
For to to same transition allowance income share or year $X.XX for year share $XXX,XXX per million and review per of share the accounting to tax Non-GAAP compared Non-GAAP $X.XX benefits prior note of net quarter as full share well diluted is respectively company recorded to for fourth metrics. or the and QX important same That XXXX, per assets. $X.XXX $XXX,XXX $X.XX the million as and net related income million reversal $X.XX of tax $X.XXX the of period diluted XXXX. was or non-GAAP of per valuation XXXX, is passage to diluted year as XXXX XXst, diluted a for the It accounting of to ended was the share new for to the $X.XX or compared $X.XXX related share December and XXXX is tax good full Jobs the periods full to on million compared benefits of XXXX. Cuts Tax diluted deferred for the some both $XXX,XXX respectively $X.XX or of or per $X.XXX net income year of $XXX,XXX in of a a during diluted $XXX,XXX XXXX. principle. per This was XXXX $XXX,XXX of compared the Act adoption
XXXX compared I was XX% the being operating to for quarter attributable or the $XXX,XXX or higher percentage to of a same As primarily EBITDA XX% year. noted revenue, earlier. the quarter $XXX,XXX of fourth of The decrease prior during costs
full million $X.XXX XXXX. year $X.XXX was percentage XX% the for compared of or XX% For to XXXX, or EBITDA million
benefit XX% percentage one-time the related of been would the accrual to earlier, Excluding XXXX. have noted reversal the EBITDA for postage
of fourth the the a balance and the generating for generate we flow cash positive year flow year. to from operations, quarter statement. totaling flow as $X.XXX $X.XXX from with operations ended during sheet cash million million cash cash and the $XXX,XXX to We continue balance Turning
successful our we cash Xth, consecutive Overall, XXth per it of Issuer year for it for a Direct. making and dividend dividends. another on $X.XX paying quarter Additionally, was February paid quarter share,
from services excited to growth cloud-based sales organic contribute we As staff. our customer our to through continue transition business, and we our to increased a a strategic through company are drive partnerships subscription
accelerate I our growth will of integration hopeful this, communication and our are increasing compliance and the service and over to to developments We business. customers, to will This decline us about will watch us our objectives value. it in Brian, in Brian? in the more business and Interwest, our offering entire of of earnings who continued will help corner base to maximize platform opportunity operational strategies, that allow along outpace achieve out areas for discuss to strengthen turn XXXX. platform the certain platform shareholder by will customer any now our Interwest around revenue to offerings with
us joining to discuss for Thank our you, quarter today everyone Steve and XXXX. year full fourth thanks to and
a year. compared were for As fourth overall the up highlighted, fourth as over were Steve and we strong up a recap, just XXXX Sequential year to quarter for up quarter posted revenues last of XX% quarter full growth And year. the and quarter XX% fourth quarter XXXX XXXX was XXXX. third X% revenues fourth
is the a a beyond. our XXXX our our go-to-market strong and coming to was a the fourth in As now XXXX quarter this and most growth, that is years, this option five embracing quarter acquired but almost since best important was to fact, for matter validation momentum, platform on beginning customers of Finishing play one platform when and our pay in overall strategy year we importantly, fourth revenues are off PrecisionIR. key
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XX%. acquisition and service businesses, and a XXXX Speaking Technology sequentially, We year in of XXXX XXXX QX QX had and X,XXX by lumpiness growth the our our work strong sequential of sequential also We to slight of customers QX growth. customers doing compared X,XXX Again, year. of to company consistently compared QX Platform The new during of service of of XX% during The led company XXX frequency throughout XXX the during the XXXX. see last had of of saw, in Interwest both during XXX Stock Transfer. XXXX. client customers. QX X,XXX net client still customers growth That's during platform and QX
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include from news the distribution. Second year strong disclosure off to partnership value that XXXX A in Exchange. expanded kicked London was late now just last is here Stock and and
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the We are of Operator, call? portion could the please you now take ready begin to Q&A questions.
back there at would Brian to are time, If the I no remarks. Balbirnie to turn call like questions closing for this
I'd Annual rest we the year I time afternoon, about taking to the And Steve anybody to is end an of you. you. any our again, quarter this your Report listen to you and Thank opportunity again. Thank filed for like and with everyone, our speak to questions follow-up fourth thank has welcome day. talk numbers. Enjoy today If after