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Caesarstone's (CSTE) CEO Raanan Zilberman on Q3 2017 Results - Earnings Call Transcript

Nov. 01, 2017 1:39 PM ETCaesarstone Ltd. (CSTE)
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Caesarstone Ltd. (NASDAQ:CSTE) Q3 2017 Results Earnings Conference Call November 1, 2017 8:30 AM ET


Allison Cain - Investor Relations, Vice President of ICR

Raanan Zilberman - Chief Executive Officer

Yair Averbuch - Chief Financial Officer


Michael Rehaut - JPMorgan

John Baugh - Stifel

Chris Counihan - Credit Suisse

Lena Rogovin - Chardan Capital


Good day and welcome to the Caesarstone third quarter 2017 earnings conference call. Today's conference is being recorded.

At this time, I would like to turn the conference call over to Allison Cain of ICR. You may begin.

Allison Cain

Thank you operator and good morning to everyone. Certain statements in today's conference call and responses to various questions may constitute forward-looking statements. We caution you that such statements reflect only the company's current expectations and that the actual events or results may differ materially. For more information, please refer to the Risk Factors contained in the company's most recent Annual Report on Form 20-F and subsequent filings with the Securities and Exchange Commission.

In addition, the company will make reference to certain non-GAAP financial measures, including adjusted net income, adjusted net income per share and adjusted EBITDA. The reconciliation of these non-GAAP measures to the most directly comparable GAAP measures can be found in the company's third quarter 2017 earnings press release, which is posted on the company's Investor Relations website.

With that, I would like to now turn the call over to Raanan Zilberman, Chief Executive Officer of Caesarstone. Raanan, please go ahead.

Raanan Zilberman

Thank you Allison. Good day and welcome to our conference call to discuss our third quarter results and our business outlook for the rest of the year.

Third quarter revenue increased by 7.2% to a new record of $155 million. On a constant currency basis, growth was 4.6%. Gross margin was

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