Premiere Global Services, Inc. (PGI)

Q2 2010 Earnings Conference Call

July 22, 2010 5:00 pm ET


Sean O' Brien - IR

Boland Jones - Chairman & CEO

Ted Schrafft - President

David Trine - CFO


Shyam Patil - Raymond James & Associates

Tavis McCourt - Morgan Keegan &Co.

Ian Kell - Northland Securities

Sri Anantha - Oppenheimer & Co.



Good day and welcome everyone to the Premiere Global Services Incorporated second quarter fiscal 2010 conference call. Today's call is being recorded. This call is also being simultaneously broadcasted over the Internet. You can go to our website, and go to our Press section.

Alternatively, you may listen to the rebroadcast from your telephone beginning at 8.00 PM Eastern Time today till midnight, Friday, July 30th. The replay numbers are 1-888-203-1112 within the United States and Canada or 1-719-457-0820 worldwide. The confirmation code to access the replay is 114-5876. All lines will be muted throughout the presentation until the question-and-answer session begins.

At this time, I would like to turn the conference over to the Senior Vice President of Strategic Planning and Investor Relations for Premiere Global Services, Mr. Sean O' Brien. Please go ahead, sir.

Sean O ' Brien

Thank you and good afternoon everyone. If you have not received a copy of our first quarter earnings release, please visit our website at, where it is available in our Investor Relations section. Joining me on the call today are Boland Jones, Chairman and CEO of Premiere Global Services; Ted Schrafft, President of PGI; and David Trine our CFO.

Following some brief comments by management, we'll open the call to your questions. But before I turn the call over to Boland, I would like to remind everyone that statements made in this conference call other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are based on management's beliefs as well as assumptions made by and information currently available to management pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

Our actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors, including those we identified in our annual report on Form10-K for the year ended December 31, 2009 and our 10-Q filing for the quarter ended March 31, 2010.

In addition, during this call we will present non-GAAP financial measures of our business. Please consult both our press release and Form 8-K filings of this afternoon for reconciliation of these non-GAAP financial measures to the most comparable GAAP measures. These materials are also available on our website at

At this point, I would like to turn the call over to Boland.

Boland Jones

Thanks Sean and good afternoon everyone. This is Boland Jones, Chairman and Chief Executive Officer of Premiere Global Services. And welcome and thank you for joining our second quarter 2010 earnings call. Before Ted updates you on specifics of our second quarter performance, I'd like to spend a few minutes talking to you about where we are today, and in the process of transitioning our business against the backdrop of a very challenging global economy.

Specifically, I want to talk about the online meetings company that we are building here at PGI. We have been in the business of innovating and applying technology that brings people together when they are a part for nearly 20 years. And today, we are recognized as the top global player in the meeting business.

We have seen a lot of change during this time. PGI started when conferencing was done exclusively by phone, and we have witnessed an amazing transition in our space from a hardwired, human operator-based cottage industry to a very highly automated, vibrant global market backed on by the web.

Through our innovations, PGI has helped lead and expand the industry to transition. From where we sit today, the industry is changing again. We want to be and we believe we will be at the forefront of this change. Today, companies are more dispersed and more mobile than at any time in history. As a result, the tools and technologies that enable collaboration are more important to them than ever before. In fact, according to a recent study by IBM, collaboration which used to be an afterthought for many organizations has become one of the top five strategic technology investments for many large companies.

At the same time, newer technologies like social networking, peer-to-peer technologies and video technologies are advancing at an exponential rate. These technologies offer new venues for people to meet and collaborate. And in fact, there is another industry exploding around us that is beginning to merge with and in many ways compete with our traditional services.

My point is that we believe we are addressing an extremely large market opportunity, that is expanding and scope every single day as these and other technologies and habits change the way people can and want to connect and do business.

Now over the past decade, we've grown PGI's meeting business from less than $75 million to nearly $500 million annually. Over this time, we've built a global presence, created a scalable next generation collaboration platform and earned a base of customers that includes some of the biggest brands in the world. We believe these are tremendous assets for our company that can provide a strong platform and large path for our future growth.

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