Earnings Call Excerpt
CPI International, Inc. (CPII)
F4Q07 Earnings Call
December 13, 2007 11:00 am ET
Executives
Joe Caldarelli - CEO, President, Communications & Medical Products
Bob Fickett - President and COO, President, Microwave Power Products
Joel A. Littman - Chief Financial Officer
Analysts
Antonio Antezano - Bear, Stearns & Co. Inc.
Michael Coleman - Wachovia Securities
Andrew Burke - Polk
Presentation
Operator
Good day, ladies and gentlemen, and welcome to the CPI International Fourth Quarter and Fiscal 2007 financial results conference call. My name is Maria and I will be your coordinator for today.
At this time all participants are in listen-only mode. We will be facilitating a question-and-answer session at the end of today’s conference [Operator instructions]. As a reminder this conference is being recorded for replay purposes.
Before we begin the company has asked me to read the following statement:
Today’s presentation includes forward-looking statements within the meaning of the Securities Exchange Act of 1934. Forward-looking statements provide the company’s current expectations, beliefs or forecasts of future events. Forward-looking statements are subject to known and unknown risks and uncertainties which could cause actual results to differ materially from the results expected, projected or implied by forward-looking statements.
These risk factors include without limitation: competition in the company’s end-market; the company’s debt levels; significant changes or reductions in the U.S. Defense budget; currency fluctuations; U.S. government contracts; laws and regulations; changes in technology; the impact of unexpected cost; the inability to obtain raw materials and components. Further information in these risk factors and additional risks and uncertainties are included in the company’s filings with the Securities and Exchange Commission.
The compensation of EBITDA, adjusted EBITDA, adjusted EBITDA margin, free cash flow and adjusted free cash flow margin that will be discussed on today’s call are non-GAAP financial measures under Securities and Exchange Commission rules. A presentation if the most directly comparable GAAP measures and reconciliations on each of these non-GAAP financial measures to the most directly comparable GAAP measures are available in yesterday’s press release which has been posted on the company’s website. Interested parties can access the press release by going to www.CPII.com and opening the press release entitled CPI International Announces Fourth Quarter and Fiscal Year 2007 Financial Results.
I would now like to turn the presentation over to your host for today’s conference, Joe Calderelli the Chief Executive Officer of COI International. Please proceed, Sir.
Joe Calderelli
Thank you. Good morning and welcome to CPI’s Q4 and Fiscal ’07 call. We appreciate your time this morning and hope that you have had a chance to review yesterday’s 10-K and press release.
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