Earnings Labs

Veru Inc. (VERU)

Q3 2016 Earnings Call· Thu, Jul 28, 2016

$2.34

+0.00%

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Transcript

Operator

Operator

Good day, ladies and gentlemen, and welcome to the Female Health Company's Third Quarter Fiscal Year 2016 Conference Call. [Operator Instructions] Please note this event is being recorded. The statements made on this conference call that are not historical in nature are forward-looking statements, including those regarding the outlook for the company's business and those regarding proposed merger transaction between FHC and Aspen Park Pharmaceuticals and the integration of our two businesses. Such forward-looking statements reflect the company's current assessment of the risks and uncertainties related to its business. The company's actual results and future developments could differ materially from the results or developments in such forward-looking statements. Factors that may cause actual results or developments to differ materially include such things as product demand and market acceptance; the timing of receipt and shipment of large orders; competition; the ability to execute on new business strategies; the risks that the proposed transaction with Aspen Park Pharmaceuticals may not be completed in a timely manner or at all; risks that the proposed transaction could disrupt current plans and operations; risks related to the development of Aspen Park's product portfolio and its business; and other risks detailed in the company's pre-released shareholder communications and Securities and Exchange Commission filings. For additional information regarding such risks, the company urges you to review its 10-Q and 10-K SEC filings. I would now like to turn the conference over to Mr. O.B. Parrish.

O. Parrish

Analyst

Thank you, Andrea. Good morning, and welcome to The Female Health Company's Third Quarter 2016 Conference Call. Michele Greco, EVP and CFO is here with me in our Chicago office. Martin Tayler, our EVP of Operations, is participating from our London office. This morning, first I will address the status of FHC's proposed merger with Aspen Park Pharmaceuticals or APP, then I will review the FHC financial results and key factors that may impact future results. Finally, I'll address the outlook, including the proposed merger with APP. I've asked Mitch Steiner, President and CEO of APP, to participate and assist in answering questions about the merger. As usual, when I refer to years, I'm referring to the company's fiscal year, which ends September 30, unless otherwise noted. In July, 2014, the company announced a strategic goal to diversify the company's product line. The objective was to eliminate the risk of being a single-product company and provide an opportunity for higher investor return by creating a multiple high potential proprietary product portfolio. On April 6 of 2016, the company announced a proposed merger with Aspen Park Pharmaceuticals fulfilling its objective. A preliminary proxy statement was filed with SEC on May 18 for a special meeting of shareholders relating to the merger. In response to comments from the SEC staff, a revised preliminary proxy statement was filed on June 21. I am very pleased to report that the SEC staff has now completed its review of the preliminary proxy statement, and we expect to mail out the definitive proxy statement to our shareholders on or about August 8. On July 15, the company announced that July 28 is the record date for the special meeting. The special meeting date will be announced at a later day. I believe the proposed merger is…

Operator

Operator

[Operator Instructions] Our first question comes from Brian Schartz from [Audio Gap] [Operator Instructions] Ladies and gentlemen, this concludes our question-and-answer session. I would like to turn the conference back over to management for any closing remarks.

O. Parrish

Analyst

Thank you, Andrea. We look forward to concluding the merger. We look forward to having a proxy come out in early August and to the special shareholders' meeting, and we appreciate your support. Okay, Andrea, you can talk about the replay, please.

Operator

Operator

Yes, sir. To access the digital replay of this conference, you may dial 1 (877) 344-7529 or 1 (412) 317-0088 beginning at 9:00 a.m. on August 1. You will be prompted to enter a conference number, which is 10090408. Please record your name and company when joining. The conference is now concluded, and thank you for attending today's presentation. You may now disconnect your lines.