GoPro Inc (GPRO)’s 4th Quarter and FY 2014 Financial Results Conference Call Transcript

Operator
We’ll take a follow up question from Alex Gauna with JMP Securities, pleas go ahead

Alex Gauna, JMP Securities
Hey, Jack, to follow-up on two questions ago, you’ve done a pretty good job of exceeding your expectations last couple of quarters. I’m kind of wondering in this last December quarter, what was the greatest variance that came in stronger than you expected? And what maybe could go better than expected in Q1? I’m also curious. With Q1, you gave some answers that year over year growth is comparable for that first quarter to what you did for the full year 2014. Is that really how you’re setting the bar there? Or are there other insights setting that guidance to be greater than normal seasonality for you? Thanks.

Jack Lazar – Chief Financial Officer
Yeah, so, Alex, the big thing that happened in Q4 was this tremendous [inaudible] of demand. I mean, we really saw a lot of the uhm pull from all of our customers. We move a lot of units in this last quarter and frankly I think it’s a testament to the operations team within the company because if you look at it we really were able to fulfill demand while being careful about making sure that people weren’t over you know over ordering on product and so I just think we saw it across the board, there are some reasons why we weren’t able to get some stuff, probably as fast as we wanted to but caught up as the quarter went by but overall we just see a lot of demand for these products that our engineering teams put together, the Hero4s that are frankly quite good in our view. I think uhm, looking at Q1, there’s all sorts of variances that could possibly, that could possibly happen but we have to give you our view as of today and what we think is the most likely situation for the quarter. When I look out there, I mean, we obviously have to keep tracking things like sell through so that we can get the proper level of the sell in, but remember, one of the things we’ve been pretty [inaudible] about is that we just want to make sure that we’re priming the channel to meet the demand and we know that long term, 5.2 million units in a year is really a small number compared to what we should be able to do. And given that we just want to have controlled growth as we go forward, so, hopefully that helps a little bit.

Operator
Ladies and gentlemen that does conclude our question and answer session, I would now like to turn the call to management for any closing comments.

Nicholas Woodman – Chief Executive Officer and Chairman
Thank you again everyone for joining the conference call, Nick Woodman here, before we go I want to let anyone know that we’re going to be at the Morgan Stanley technology media and telecom conference being held in San Francisco on March 4th. On behalf of our 100,000+ employees around the world, thank you for your ongoing support and interest in GoPro, this is team GoPro signing off.

Operator
Once again that does conclude today’s conference. Thank you for your participation.