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Telular Management Discusses Q3 2012 Results - Earnings Call Transcript

Stocks in this article: WRLS

During the call, we will also refer to adjusted EBITDA, a non-GAAP financial measure. Adjusted EBITDA is a non-GAAP measure, which adds back interest expense, income taxes, depreciation, amortization and stock-based compensation to net income.

At this point, I would like to turn the call over to Mr. Joe Beatty.

Joseph A. Beatty

Thank you, Ellice [ph]. Good afternoon, everyone. We're pleased with the revenue growth and profitability we delivered this quarter. Revenue from our 3 businesses: Telguard, SkyBitz and TankLink, continue to grow as we focus on expanding our market opportunity. We're building upon our stream of high-margin, recurring service revenue, ending the quarter with approximately 809,000 billable units company-wide. Our leading reputation and product innovation are keeping us ahead of the curve and we're experiencing strong demand for our products and services, particularly with the 3G/4G Telguard units.

Our businesses are operating very well and we're executing on our strategy to drive profitable growth. Cash generation remains strong and predictable, allowing us to reward our shareholders with a regular quarterly dividend payment.

Looking forward, we have increased our fiscal year 2012 adjusted EBITDA guidance, and feel confident in our continued execution. I'll go into more detail on our progress this quarter, as well as our long-term strategy, later in the call.

First, I'll turn the call over to Jonathan Charak, our CFO, to review our financial results.

Jonathan M. Charak

Thank you, Joe. Good afternoon, everyone. We delivered strong third quarter financial results and have increased our guidance of adjusted EBITDA for fiscal 2012 to $17 million to $17.5 million. For the quarter, we recorded total revenue of $22.9 million, including $13.3 million or 58% from recurring services. Pretax income was $2.4 million and adjusted EBITDA, a non-GAAP financial measure, was $5 million.

As we mentioned last quarter, we are now reporting the combined results of our Telguard and TankLink business lines within the Event Monitoring segment, while SkyBitz will be included in our Asset Tracking segment.

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