AIQ

Alliance HealthCare Services, Inc. (AIQ)

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Exchange: NASDAQ
Industry: Health Care
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Alliance Healthcare Services (AIQ)

Q2 2013 Earnings Call

August 01, 2013 8:30 am ET

Executives

Richard W. Johns - Executive Vice President, Secretary and General Counsel

Larry C. Buckelew - Chairman of The Board, Interim Chief Executive Officer and Chairman of Strategic Planning & Finance Committee

Michael J. Shea - Chief Operating Officer

Howard K. Aihara - Chief Financial Officer and Executive Vice President

Analysts

Henry Reukauf - Deutsche Bank AG, Research Division

Miles L. Highsmith - RBC Capital Markets, LLC, Research Division

Presentation

Richard W. Johns

Good morning, and welcome, ladies and gentlemen, to the Alliance HealthCare Services' Second Quarter 2013 Earnings Call. My name is Richard Johns, and I am the company's Executive Vice President and General Counsel.

This conference is being recorded for rebroadcast. [Operator Instructions] We will open the conference up for questions-and-answers after the presentation.

This conference call will contain forward-looking statements, which are based on the company's current expectations, forecasts and assumptions, including statements related to our 2013 guidance, expected capital expenditures, imaging and radiation therapy center openings, long-term debt reduction, expected cost reductions, the company's effective tax rate and the weighted average number of shares outstanding.

As most of you know, forward-looking statements involve risks and uncertainties, which could cause actual outcomes and results to differ materially from the company's expectations, forecasts and assumptions. These risks and uncertainties are described in the 2013 guidance release under the heading Forward-looking Statements, as well as in the Risk Factors section of the company's annual report on Form 10-K for the year ended December 31, 2012, as such report may be modified or supplemented by the company's subsequent filings with the SEC.

The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Financial and other statistical information presented on this conference call, or information required by the SEC's Regulation G, may be accessed through the Investor Relations section of the company's website. Please visit our website for replay information of this call.

On today's call, Larry Buckelew, our Chairman and CEO, will first provide an overview of our business and second quarter 2013 results; followed by Mike Shea, our Chief Operating Officer, who will provide an update on trends in the economy and the health care services sector; our Chief Financial Officer, Howard Aihara, will follow with the details of our financial results for the quarter.

We will conduct a Q&A session after our prepared remarks.

With that, I will now turn the conference over to Larry. Larry, please go ahead.

Larry C. Buckelew

Thank you, Rick. Good morning, everybody. I'm very pleased to welcome you to Alliance's second quarter call. As always, we sure appreciate your time, your interest and your participation in this event. I recognize that this is a busy time of year for each of you on this call with so many companies currently issuing earnings, so thanks for making time for us.

Before we outline our results for the quarter, I'm delighted to take a moment and discuss an announcement we made last night. As you likely saw in our press release, we at Alliance are ready to execute what we call the next phase of our leadership transition, and we have selected Tom Tomlinson to be our next Chief Executive Officer.

As you can imagine, this is a key appointment that's coming at an important time for Alliance. As you saw from the press release, Tom has more than 25 years of diverse executive management and leadership experience. His experience comes in a variety of operational and financial roles.

In Tom, we found someone with a well-rounded executive background and experience, not only in our field but also a broader business world, which was important to the search committee of our board as we conducted our search. I think it's also worth mentioning that this was a very robust search. We were delighted with the high level of interest, the caliber of the candidates that were considered over the last handful of months. We looked at both internal and external candidates, and we were delighted that Tom was the candidate that came into our scene and has now agreed to join us as CEO.

Tom is joining us from Midwest Dental. Midwest Dental is a leading U.S. provider of dental care services, where he's been CEO since 2012. Previous to Midwest Dental, he spent about 10 years with the Center for Diagnostic Imaging, or CDI, which is a national network of imaging providers, and they provide a full range of diagnostic imaging, pain management and interventional radiology services. He spent his last year there as CEO, previous 6 years as President and Chief Operating Officer. And then prior to that, he was the company's Chief Financial Officer.

So once again, you could see one of the things that makes Tom an appealing candidate for this role is he does have that breadth of knowledge in terms of having held key roles in each primary functional areas. So he certainly has been there, done that and knows what right looks like.

I think it's also, though, key to indicate that before joining CDI, Tom spent approximately 17 years in development roles and finance roles, including Executive Vice President and Chief Financial Officer for Department 56, which is a publicly traded wholesale and retail consumer products company.

And early in his career, he decided he would be a part of one of the toughest industries in the world and held numerous finance and development positions in such large organizations as Northwest Airlines and American Airlines. So he certainly has public experience and a broad base of background to draw from.

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