Q1 2013 Earnings Call

May 06, 2013 05:00 a.m. ET

Executives

Don McCauley - Chief Financial Officer

Philippe Courtot - Chairman and CEO

Analysts

Sterling Auty - JPMorgan

Philip Winslow - Credit Suisse

Robert Breza - RBC Capital Mart

Rob Owens - Pacific Crest Securities
Steven Ashley - Robert W. Baird
Erik Suppiger - JMP Securities
Michael Kim - Imperial Capital, LLC.

Presentation

Operator

Good day, everyone, and welcome to the Qualys First Quarter 2013 Investor Conference Call. This call is being recorded. At this time all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions for asking a question will be given at that time.

I would now like to turn the call over to Don McCauley, CFO of Qualys. Please go ahead, sir.

Don McCauley

Thank you. And welcome to the Qualys first quarter 2013 investor conference call. I'm

Q4 2012 Earnings Call

February 11, 2013 5:00 pm ET

Executives

Don McCauley - Chief Financial Officer

Philippe Courtot - Chairman and CEO

Analysts

Sterling Auty - JPMorgan

Phil Winslow - Credit Suisse

Robert Breza - RBC Capital Markets

Rob Owens - Pacific Crest

Steve Ashley - Robert W. Baird

Erik Suppiger - JMP Securities

Craig Nankervis - First Analysis

Joel Fishbein - Lazard Capital

Presentation

Operator

Good day, everyone, and welcome to the Qualys Fourth Quarter 2012 Investor Conference Call. This call is being recorded. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions for asking a question will be given at that time.

I would now like to turn the call over to Don McCauley, CFO of Qualys. Please go ahead, sir.

Don McCauley

Thank you. Welcome to the Qualys fourth quarter and full year

Q3 2012 Earnings Call

November 5, 2012 5:00 PM ET

Executives

Don McCauley – CFO

Philippe Courtot – Chairman and CEO

Analysts

Sterling Auty – J.P. Morgan

Sitikantha Panigrahi – Credit Suisse

Robert Berza – RBC Capital

Rob Owen – Pacific Crest

Steve Ashley – Robert W. Baird

Erik Suppiger – JMP Securities

Joel Fishbein – Lazard Capital

Craig Nankervis – First Analysis

Presentation

Operator

Good day ladies and gentlemen and welcome to the Qualys Incorporated third quarter earnings call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will be given at that time. If anyone should require audio assistance during the conference please press star then zero to reach an operator.

I would now like to turn the call over to Don McCauley, CFO of Qualys. Please go ahead sir.

Don McCauley

It’s okay, thank

The following IPOs are expected to price this week:

Berry Plastics Group (BERY), which manufactures plastic goods and containers for consumer applications, plans to raise $500 million by offering 29.4 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Berry Plastics Group would command a market value of $2.0 billion. Berry Plastics Group, which was founded in 1967, booked $4.8 billion in sales over the last 12 months. The Evansville, IN-based company plans to list on the NYSE under the symbol BERY. BofA Merrill Lynch, Citi, Barclays and Deutsche Bank are the joint bookrunners on the deal.

Dave & Buster's Entertainment (PLAY), which operates 60 casual dining restaurants with large arcade areas, plans to raise $100 million by offering 7.7 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Dave &

Qualys (QLYS) made its public debut on Friday. Shares of the provider of cloud security and compliance solutions ended their first day up 18% at $14.16 per share.

The public offering

Qualys's solutions enable organizations to identify risks to their IT infrastructures and help to protect their systems from cyber attacks, and achieve compliance with internal policies and external regulations. Qualys offers solutions to over 5,800 organizations in more than 100 countries.

The company sold 7.6 million shares for $12 a piece. Qualys raised $80 million in gross proceeds in the offering process. Based on the offer price of $12.00, the firm is valued at $361 million.

The offering is quite a success. The offer price is at the midpoint of the $11-$13 price range set by the firm and its bankers. The firm sold 6.7 million shares, while selling shareholders offered 875,000 shares. In total, 25% of the

Based in Redwood City, CA, Qualys (QLYS) scheduled a $91 million IPO with a market capitalization of $360 million at a price range mid-point of $12 for Friday, September 28, 2012.

For the week of October 1, 2012 seven IPOs are scheduled. Full IPO calendar available here.

S-1 filed September 21, 2012

Manager, Joint Managers: J.P. Morgan; Credit Suisse.
Co Managers: RBC Capital; Pacific Crest; Baird; JMP; Lazard; First Analysis.

SUMMARY
QLYS provides cloud security and compliance solutions that enable organizations to identify security risks to their IT infrastructures.

CONCLUSION
Buy QLYS on the IPO & sell asap, because growth appears to be slowing

For example: can QLYS achieve significant internal growth from increasing applications usage within its current customer base? Looks like at this stage it will not be easy to expand significantly by adding new customers.

Consider this statement on page 53 in

SUMMARY

The Apple-free IPOX Strategies remained the main beneficiaries of increased global risk appetite during Options and Futures Expiration Week, with the IPOX U.S. extending the gains to close at yet another all-time high. While U.S. IPOs sprang back to life, Japan Airlines (9201 JP) disappointed.

HIGHLIGHTS

IPOX Global Indexes

IPOX rally continues, IPOX U.S. Strategies settle at yet another all-time high:

1. Amid a continuously low volatile trading environment after the massive central bank action during the previous week, the IPOX Global 50 (IPGL50) -- proxy for the performance of the largest and most significant global IPOs and spin-offs over a four-year rotational cycle -- rose +0.03% to +18.32% YTD, +74 bps. ahead of benchmark MSCI World (MXWD).

IPOX Regional Indexes Action

1. In the cross-section of the IPOX universe, the IPOX U.S. (IPXO, IPXT), continued its strong run, with the IPOX U.S. 100 (FPX) and narrower IPOX U.S. 30 (IPXT)

The IPO market was hit with double whammies that dried up the calendar. But somewhere in time, there is a light at the end of the tunnel.

The most obvious whammy was the Facebook (FB) train wreck. Nobody expected the deal to collapse, especially the defendants in the ever-growing number of lawsuits.

Re-cap: On Thursday, May 17, Facebook priced its IPO of 421.2 million shares at $38 each. The IPO opened Friday, May 18, at $42.05 and closed its first day at $38.23. Then it broke issue price on the next trading day, which was Monday, May 21, closing at $34.03.

The outcome: That remains to be resolved in the courts.

The other whammy was stock market conditions. The Nasdaq Composite Index quietly slipped into a correction. The result brought the IPO calendar to a standstill. Note: The stock market sell-off started before Facebook's IPO.

Re-Cap: