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Globecomm Systems CEO Discusses F1Q2011 Results – Earnings Call Transcript

Globecomm Systems, Inc. ( GCOM)

F1Q2011 (Qtr End 09/30/10) Earnings Conference Call

November 5, 2010 10:00 AM ET


Matthew Byron – SVP, Corporate Office

David Hershberg – CEO and Chairman

Keith Hall – President and COO

Andrew Melfi – SVP and CFO


James Patrick McIlree – Merriman Curhan Ford & Co.

Richard Valera – Needham & Company, LLC

Sarah Catherine Phillips – Stephens Inc.

Richard Ryan – Dougherty & Company



Welcome to today’s Globecomm Systems Fiscal Year 2011 First Quarter Earnings Conference Call. (Operator Instructions)

For opening remarks and introductions, I would like to turn the call over to Matthew Byron, Corporate Vice President. Please go ahead, Mr. Byron.

Matthew Byron

Thank you, Katy. Good morning, everyone. Welcome to the Globecomm Systems Fiscal 2011 First Quarter Earnings Conference Call. Joining me today from the company is our Chairman and CEO, David Hershberg; President and COO, Keith Hall; and our CFO, Andrew Melfi.

Last night, after the closing bell, Globecomm issued its fiscal 2011 first quarter earnings press release. In the event you have not received or seen a copy of the release, it is posted on the Globecomm System’s website at or you can contact me at (631) 457-1301, and I will send a copy to you.

Comments made during this call may contain projections or other forward-looking statements regarding future events or the future financial performance of Globecomm Systems. These statements are only projections and reflect the current beliefs and expectations of the company. Actual events or results may differ materially. With that said, it is routine for internal projections and expectations to change as quarters progress.

All forward-looking statements are based on the information available to the company on the date hereof, and the company assumes no obligation to update such statements. Please refer to the documents the company files from time to time with the SEC, specifically the company’s Annual Report on Form 10-K, quarterly reports on Form 10-Q and its current reports on Form 8-K and the Safe Harbor language contained in the company’s press releases.

These documents contain and identify important factors that could cause the company’s actual results to differ materially from those contained in these projections or forward-looking statements, which the company urges all investors to consider. Globecomm undertakes no obligation to publicly release the revisions for such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Please note that this call is being recorded on Friday, November 5, 2010, contains time-sensitive information and will be available as a webcast replay for at least nine months on the Investor Relations section of the Globecomm Systems website and as a phone replay at 1 (888) 203-1112 for domestic callers or (719) 457-0820 for international callers, with an access code of 8435331.

At this point, I’d like to turn the call over to our Chairman and CEO, Dave Hershberg. Dave?

David Hershberg

Well, thank you, Matt, and good morning, everyone, and welcome to our Fiscal 2011 First Earnings Conference Call. Despite a continuing challenging environment, Globecomm announced its 26 th consecutive quarter of profitability and also record guidance demonstrating the diversity of the company’s business model.

Globecomm’s ability to provide complete end to end solutions for both infrastructure and service continues to provide good value to our customers. The company continues to invest heavily in new product and service offering across all our vertical markets and looks forward to making various announces to this front at various points throughout this current year, and I’ll also – you can see by recent announcements a lot of these are paying off.

As outlined in our Q4 conference call, we anticipated a live infrastructure segment revenue in Q1 with continued strength throughout the fiscal year. Infrastructure bookings have been robust as demonstrated by continued recent announcements further enhancing the company’s ability to maintain our record guidance. Our backlog for both the infrastructure and service level are at record levels.

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