ASV Holdings, Inc. (NASDAQ:ASV) Q4 2018 Earnings Conference Call - Final Transcript
Mar 14, 2019 • 04:30 pm ET
Andrew M. Rooke
made considerable progress in 2018, as we saw a near doubling of dealer locations, achieving the targeted rate of sales turn. We had approximately 25% of the target rate, and expect this to grow again in 2019. So, quantity and quality of the network is going in the right direction. During the quarter, we received industry recognition for the RT-25 and RT-40 machines we launched in the year. The RT-25, the World's Most Compact Track Loader, solidifies our position in the small capacity segments, targeting rental, landscaping, and snow removal markets, for example. And additionally provides a compelling alternative to the large market that stand behind or walk-on machines.
Housing and construction activity while moderating towards the end of the year still showed growth over 2017, and our expectations are for continued growth in 2019. Our $30.2 million backlog as of the year end, also afford us some visibility for the first-half of 2019. The industry wide engine and component shortages that impacted 2018, delivery times, seemed likely to remain a challenge to the first quarter of 2019. However, our pricing actions and cost reductions to offset material costs, continued success increasing the dealer counts, and dealers sell through and the easing of bottlenecks in the supply chain should all result in positive benefits.
So, not withstanding completing the audit and filing of the 10-K and our complete financial statements, our strategy remains intact, our value proposition remains strong and our long-term financial objectives are unchanged. We expect to conduct another shareholder approval as soon as we have filed the 10-K so that our investors have the opportunity to ask questions regarding the quarterly, and year-end financial statements and our progress.
And now I would like to open the call up for questions, recognizing that our comments will have to be limited to the areas that we can address right now. So John, open it up for questions, please.