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ModusLink Global Solutions' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: MLNK

Factors that could contribute to such differences include, but are not limited to, those items noted and included in the company's SEC filings, including our annual report on Form 10-K and quarterly reports on Form 10-Q. The forward-looking information that is provided by the company in this call represents the company's outlook as of today, and we do not undertake any obligation to update forward-looking statements made by us. Subsequent events and developments may cause the company's outlook to change.

During this call, we'll be referring to non-GAAP measures. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP measure can be found in our earnings release issued earlier today, a copy of which is posted in the Investors section of our website.

I'd now like to turn this call over to Joe Lawler. After our formal remarks, we'll be happy to take your questions. Joe?

Joseph C. Lawler

Thanks, Steve. Good afternoon, and thank you for joining us. I would also like to welcome Tom Nightingale to the call. Tom is traveling today, meeting with clients, so he is joining us remotely.

Before I discuss our quarterly results, I'd like to briefly comment on our strategic alternatives process. As you know, in November, we announced that our Board of Directors initiated a comprehensive review of the various strategic options available to the company to enhance stockholder value. The review is well underway. It would not be appropriate for us to comment further until our board has completed its review and approved a definitive course of action. So for today's call, we will only be taking questions regarding our quarterly results.

On this call, we'll focus our comments on 3 primary areas. First, revenue reflected expectedly lower volumes from certain client programs compared to the second quarter of last year and was also impacted by client-specific conditions and the continued challenging environment particularly in Europe. For example, 2 clients in the computing market experienced supply chain constraints, which primarily affected our operations in Asia. In addition, and as expected, our planned investments and one-time costs impacted profitability in the second quarter. Steve will provide a more detailed overview of our financial results in just a moment.

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