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Pool's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: POOL

Now I'd like to share some perspective on our business, followed by an update on new locations both acquired and startups.

We are presently in our 19th year operating in the domestic Blue business. Over these past years, we have gradually built our SCP and superior networks step-by-step via a combination of new openings and acquisitions with the understanding that each market is unique and customer [ph] characteristics are also different especially in seasonal versus year-round markets.

The development of our networks was based on participating in all of the medium-size and larger markets, with those markets being premised primarily on the installed base of pools, which drive recurring maintenance, service and remodeling replacement activity.

Simultaneous with the building of our networks, we also invested in technology, marketing, logistics, best practices, and most importantly, talent development that altogether have enabled us to consistently increase market share as we provide a differentiated service and value proposition to our customers and suppliers. This is important to note as our success is primarily attributable to our investment decisions that we've made and have executed on for many years. As many of you are aware, there's a strong correlation between operating results and the sales tenures -- tenure with Pool.

Meanwhile, we are in our 14th year operating internationally with sustained strategic goals and process.

The 2 inhibiting factors though are the administrated drag from country-specific regulatory requirements and our being less able to mobilize talent to address opportunities as we do domestically given language and cultural differences. This second item is critical as we realize progress but at a slower pace.

To further build out our international network, in the past 18 months, we have added locations in Germany, Belgium, Western Canada and North of Ontario -- or North of Toronto and Ontario and we'll also be adding a third location in Mexico next month.

Read the rest of this transcript for free on seekingalpha.com

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