Richardson Electronics Ltd. (NASDAQ:RELL) Q1 2020 Earnings Conference Call - Final Transcript
Oct 10, 2019 • 10:00 am ET
on meeting the requirements of the Medical Device Regulation or MDR, which is required to sell medical devices in Europe. We recently concluded the GAAP audit to identify areas for improvement. We will be prepared when the transition period ends in May 2020 and believe this will give us a competitive advantage in the medical display market.
Considering all the new programs we are working on with existing, as well as new customers, I'm optimistic that we will continue growing our business. We have proven ourselves to be a highly reliable, versatile technology company with the ability to meet a diverse numbers of display requirements. I will regularly review and adjust the business strategy, with a goal of further improving the operating performance of the division. Maximizing cash flow is an ongoing priority, and we continue to focus on inventory turns and collections. We will work closely with our targets to help us reduce inventory, while being able to meet the demands of our customers.
I will now turn the call back over to Ed.
Edward J. Richardson
Thanks, Jens. Congratulations on having another excellent quarter, particularly given the economic challenges in Europe. All-in-all, it was a good start to the year. As you've heard from the team, no one is satisfied with where we are. And with ongoing economic concerns, we will continue to fight for profitable revenue growth. Healthcare is moving in the right direction. PMG continues to add top line growth. Canvys and EDG are healthy. We have plenty of room to grow within our existing infrastructure. We will continue to monitor expenses and capital expenditures and used cash wisely to support our key initiatives.
At this point, we'll be happy to answer few questions.