Genasys Inc (NASDAQ:GNSS) Q4 2019 Earnings Conference Call - Preliminary Transcript

Dec 09, 2019 • 04:30 pm ET


Genasys Inc (NASDAQ:GNSS) Q4 2019 Earnings Conference Call - Preliminary Transcript


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Good afternoon and welcome to Genasys Incorporated's Fourth Quarter Fiscal 2019 Financial Results Call. All lines have been placed in a listen-only mode and the floor will be opened for questions following the presentation.(Operator Instructions) At this time, it is my pleasure to turn the floor over to Satya Chillara Investor Relations for Genasys .Sir the floor is yours.

Satya Chillara

Thank you, Christine. Good afternoon everyone and welcome to Genasys fourth quarter and fiscal 2019 Financial Results Conference Call . I'm Satya Chillara Investor Relations for Genasys with me on the call are Richard Danforth Chief Executive Officer ;and Dennis Klahn Chief Financial Officer of Genasys .

Before we begin, I would like to take this opportunity to remind you that during the course of this call. Management will make forward-looking statements. Other than the statements of historical facts. Statements made during this call that are forward-looking statements are based on our current expectations.

During this call, we may discuss the Company's plans, expectations outlook or forecast for future performance. These forward-looking statements are subject to risks and uncertainties and actual results could differ materially from the views expressed today. For more information regarding potential

And uncertainties, please refer to the Risk Factors section of the company's Form 10-K for the fiscal year ended September 30 2019. Genasys disclaims any intent or obligation to update those forward-looking statements except as otherwise specifically stated .We may also discuss non-GAAP operational metrics of bookings and backlog, which we believe provide helpful information to investors. With respect to evaluating the company's performance.

We consider bookings and backlog leading indicators of future revenues and use these metrics to support production planning. Bookings is an internal internal operational metric that measures the total dollar value of customer purchase orders executed in a given period regardless of the timing of the related revenue recognition.

Backlog is a measure of purchase orders received that are scheduled to ship in the next 12 months. At this time, it's my pleasure to turn over the floor to Genasys Chief Financial Officer, Dennis Klahn Dennis.

Dennis Klahn

Thank you. Satya. I will open todays call with a recap of our fiscal fourth quarter and fiscal year 2019 financial results. Mr Danforth will then provide an update on the business. Afterwards, we will open the call for this questions .

Genasys revenues for the fourth quarter of fiscal year 2019 were $7.7 million, an increase of 135% compared with $3.3 million in the prior year fourth quarter .Gross profit was $3.6 million or 46% of revenue in this year's quarter. This is a 241% increase over the gross profit in the prior year quarter.

Operating expenses in the fiscal fourth quarter of 2019 were $3.9 million, essentially unchanged compared to the same period in the prior year. The company reported a small net loss of $78,000 or (ph) $0.00 per share in the fiscal fourth quarter of this year compared with a net loss of $2.4 million or $0.07 per share in the prior