Q4 2020 Quarterhill Inc Earnings Call
Good morning, and welcome to quote on Hill's Q4 in fiscal 2020 financial results Conference call.
On this morning's call, we have Paul Hill, President and CEO, and John <unk>, Chief Financial Officer.
At this time all participants are in a listen only mode.
Following managements presentation, we will conduct a question and answer session during which analysts are invited to ask questions.
To ask a question. Please press star one on your Touchtone phone to register.
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Earlier. This morning Court of Hill issued a news release announcing its financial results for the three and 12 months periods ended December 31 2020.
This news release, along with the company's MD&A and financial statements will be available on part of health website and will be filed on SEDAR.
Certain matters discussed today during today's conference or.
Conference call on answers that maybe given to questions could constitute forward looking statements.
Actual results could differ materially from those anticipated risks.
Risk factors that could affect results are detailed on the company's annual information form and other public filings that are available on SEDAR.
During this conference call quarter, Hal will refer to adjusted EBITDA.
[noise] of EBITDA does not have any standardized meaning prescribed by I F. R. S.
Please refer to page three of the company's Q4 and fiscal 2020 management's discussion and analysis for our full cautionary notes regarding the use of forward looking statements and I F. R. S measures.
Finally, please note that all financial information provided on this call.
Call today is in Canadian dollars.
Unless otherwise specified.
I would now let's turn the meeting over to Mr. Hill. Please go ahead Sir.
Thank you good morning, everyone and thanks for joining us on today's call.
In terms of the agenda I'll start with a look of business highlights for the year, followed by John It will take a look at our financial results.
On an update to our M&A strategy and then we'll open it up for questions.
We have slides to accompany our remarks and they will be available on our website after the call.
2020 was a solid year for quarter Hill, both financially and operationally.
Even more so against the backdrop of COVID-19.
We established new leadership at the company launched the new M&A strategy generated significant cash flow and return funds to shareholders through dividends and share buybacks.
Shortly after year end, we began to put our funds to use as part of our M&A strategy with the acquisition of sensor line, which I'll touch on later.
When I joined in June and my list of priorities included hiring a CFO, bringing the leadership team to Toronto launching our M&A diversification strategy.
Following through on our commitment to return capital to shareholders and ensuring our portfolio of companies were in a position to succeed, especially in this challenging pandemic environment.
On the leadership front, John Ram joined as CFO in October and we moved our head office to Toronto.
Having the executive team here in Toronto will help with collaboration on deal execution.
And being downtown puts us closer to more sources of deal flow.
Consolidated financial results for 2020, you saw revenue of $144 5 million adjusted EBIT.