S&W Seed Company (NASDAQ:SANW) Q2 2019 Earnings Conference Call Transcript

Feb 12, 2019 • 11:00 am ET


S&W Seed Company (NASDAQ:SANW) Q2 2019 Earnings Conference Call Transcript


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Good morning and welcome to the S&W Seed Company reports Second Quarter Fiscal Year 2019 Financial Results Conference Call. All participants will be in listen-only mode. (Operator Instructions) Please note, this event is being recorded.

I would now like to turn the conference over to Robert Blum with Lytham Partners. Please go ahead.

Robert Blum

Thank you so much, and thank all of you for joining us today to discuss the financial results for S&W Seed Company for the second quarter of fiscal year end 2019, ended December 31st, 2018.

With us on the call representing the Company today are Mark Wong, President and Chief Executive Officer; and Matthew Szot, Chief Financial Officer. At the conclusion of today's prepared remarks, we'll open the call for a question-and-answer session.

Before we begin with prepared remarks, we submit for the record the following statement. Statements made by the management team of S&W Seed Company during the course of this conference call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, and such forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies, and are generally preceded by words such as may, future, plan or planned, will or should, expected, anticipate, draft, eventually or projected. Listeners are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risk that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in the Company's 10-K for the fiscal year ended June 30th, 2018, and other filings made by the Company with the Securities and Exchange Commission.

With that said, let me turn the call over to Mark Wong, Chief Executive Officer for S&W Seed Company. Mark?

Mark W. Wong

Thank you, Robert, and good morning to everyone on the call today. I'd like to cover four points. First, talk a little bit about the Chromatin integration since -- it's been 100 days exactly almost, since we closed the transaction on October 25th. And then discuss the sort of sales picture as I see it right now for this year, although Matt is going to give most of the details on the numbers. I'd like to talk a little bit about the major traits that we're pursuing in alfalfa and sorghum. And then finish with a short discussion on -- an update on our stevia progress.

So we closed the Chromatin acquisition on October 25th, which was a Thursday. We had our new organization ready-to-go that Sunday night. It's always a difficult task to buy a company that is in trouble out of a bankruptcy, which is what we did -- when we purchased Chromatin. The situation was