RF Industries, Ltd. (NASDAQ:RFIL) Q3 2019 Earnings Conference Call - Final Transcript

Sep 12, 2019 • 04:30 pm ET


RF Industries, Ltd. (NASDAQ:RFIL) Q3 2019 Earnings Conference Call - Final Transcript


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Welcome to the RF Industries' Third Quarter Fiscal 2019 Financial Results Conference Call. [Operator Instructions] Later, we will conduct a question-and-answer session and instructions will be given at that time. As a reminder, this call is being recorded today, Thursday, September 12, 2019.

At this time, I'd like to turn the conference over to Todd Kehrli of MKR Investor Relations. Please go ahead, sir.

Todd Kehrli

Thank you, operator. Good afternoon and welcome to RF Industries' third quarter fiscal 2019 financial results conference call. With me on today's call are RF Industries' President and CEO, Rob Dawson; and Chief Financial Officer, Mark Turfler. Before I turn the call over to Rob and Mark, I'd like to cover a few quick items. This afternoon, RF Industries issued a press release announcing its third quarter fiscal 2019 financial results. That release is available on the company's website at rfindustries.com. This call is being broadcast live over the Internet for all interested parties and the webcast will be archived on the Investor Relations page of the company's website.

I'd like to remind everyone that on today's call, management will make forward-looking statements that involve risks and uncertainties. Please note that except for the historical statements, statements on this call today may constitute forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934. When used, the words anticipates, beliefs, expects, intend, future and other similar expressions, identify forward-looking statements. These forward-looking statements reflect management's current views with respect to future events and financial performance and are subject to risks and uncertainties and actual results may differ materially from the outcomes contained in any forward-looking statements.

Factors that could cause these forward-looking statements to differ from actual results include delays in development, marketing or sales of products and other risks and uncertainties discussed in the company's periodic reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission. RF Industries undertakes no obligation to update or revise any forward-looking statements.

I now turn the call over to Rob Dawson, President and Chief Executive Officer. Rob?

Robert Dawson

Thanks, Todd and good afternoon, everyone. Welcome to our third quarter fiscal 2019 earnings conference call. We're pleased to report another strong quarter with solid revenue growth both sequentially and year-over-year. This top line increase was driven by both organic growth as well as inorganic growth from our recent acquisition of C Enterprises. Organically, we continue to generate solid sales in a wireless carrier ecosystem in addition to growing our distribution business. Inorganically, we benefited from a full quarter of sales from C Enterprises and saw their sales improved significantly during the first quarter as the team performed very well.

The C Enterprises acquisition is a great example of our ability to bolt-on a complementary business and then enhance their growth by making targeted investments and including them as part of our organization and culture. If this combination of healthy organic and inorganic growth that gives me confidence in our long-term goal of