6/21/2023

speaker
Operator

All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star 1 on your telephone keypad. If you would like to withdraw your question, again press the star 1. I will now turn the conference over to John Wright, Vice President of Investor Relations. Please go ahead.

speaker
John Wright
Vice President of Investor Relations

Thank you, operator.

speaker
John Wright
Vice President of Investor Relations

Good morning, everyone, and thank you for participating in Patterson Company's fiscal 2023 fourth quarter and full year conference call. Joining me today are Patterson President and Chief Executive Officer Don Zerbe and Patterson Chief Financial Officer Kevin Berry. After a review of our results and outlook by management, we will open the call to your questions. Before we begin, let me remind you that certain statements made during this conference call are forward-looking in nature and subject to certain risks and uncertainties. These factors, which could cause actual results to materially differ from those indicated in such forward-looking statements, are discussed in detail in our Form 10-K and our other filings with the Securities and Exchange Commission. We encourage you to review this material. In addition, comments about the markets we serve, including growth rates and market shares, are based upon the company's internal analysis and estimates. The content of this conference call contains time-sensitive information. that is accurate only as of the date of the live broadcast, June 21, 2023. Patterson undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call. Also, a financial slide presentation can be found in the investor relations section of our website at pattersoncompanies.com. Please note that in this morning's conference call, we will reference our adjusted results for the fourth quarter at full year fiscal 23. The reconciliation table in our press release is provided to adjust reported gap measures, namely operating income, other income expense, net income before taxes, income tax expense, net income, net income attributable to Patterson Companies Inc., and diluted earnings per share attributable to Patterson Companies Inc. For the impact of deal amortization, integration and business restructuring expenses, legal reserves, inventory donation charges, and gains on investments, along with the related tax effects of these items. We will also discuss free cash flow as defined in our earnings release, which is a non-GAAP measure, and use the term internal sales to represent net sales adjusted to exclude the impact of foreign currency, contributions from recent acquisitions, and the extra week of selling results in the first quarter of fiscal 22. These non-GAAP measures are not intended to be a substitute for our GAAP results. This call is being recorded and will be available for replay starting at 10 a.m. Central Time for a period of one week. Now, I'd like to hand the call over to Don Zerbe.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

-

-