SMTC Corporation (NASDAQ:SMTX) Q1 2020 Earnings Conference Call - Final Transcript

May 07, 2020 • 08:30 am ET


SMTC Corporation (NASDAQ:SMTX) Q1 2020 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to your SMTC Corporation's First Quarter 2020 Financial Results Conference Call. [Operator Instructions]

At this time, it is my pleasure to turn the floor over to Blair McInnis. Sir, the floor is yours.

Blair McInnis

Thank you. Before we begin the call, I'd like to remind everybody that the presentation will include statements about expected future events and financial results that are forward-looking in nature and subject to risks and uncertainties. The company cautions that actual performance will be affected by a number of factors, many of which are beyond the company's control, and that future events and results may vary substantially from what the company currently foresees. Discussion of the various factors that may affect future results is contained in the company's annual report on Form 10-K, quarterly reports on Form 10-Q and subsequent reports on Form 8-K and other filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this call. And except as required by law, we do not intend to update this information.

During the call, we will also reference certain non-GAAP measures, including adjusted gross profit, adjusted net income and adjusted EBITDA. Please refer to the press release we issued yesterday for reconciliations between GAAP and adjusted results. Management believes that these non-GAAP financial measures, when used in conjunction with GAAP financial measures, provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects and allow for greater transparency with respect to the key metrics SMTC uses in its financial and operational decision-making.

These non-GAAP financial measures are also frequently used by analysts, investors and other interested parties to evaluate companies in SMTC's industry. The presentation of this financial information is not intended to be considered in isolation or as a substitute for or superior to the financial information prepared and presented in accordance with GAAP, and should not be construed as inference that SMTC's future results will be unaffected by any items adjusted for in these non-GAAP financial measures. Finally, this conference call will also be available for audio replay in the Investor Relations section of SMTC's website at

I will now pass the call over to Eddie Smith, SMTC's President and Chief Executive Officer.

Edward Smith

Thank you, Blair and good morning, ladies and gentlemen. I'm Eddie Smith, SMTC's President and Chief Executive Officer. On this call with me today is Rich Fitzgerald, our Chief Operating Officer; and Steve Waszak, SMTC's Chief Financial Officer. First, before discussing the quarter and our results, which came in better than our internal budgets, I want to acknowledge that as a result of the emergence of COVID-19 pandemic, we're living and working in a time that is unlike anything we've seen before. I'd like to applaud the dedication and hard work of our entire SMTC team and the support of our suppliers, our customers and our partners.

I would also like to thank our shareholders for their continued patience and support