TESSCO Technologies Inc. (NASDAQ:TESS) Q4 2020 Earnings Conference Call - Final Transcript

May 13, 2020 • 08:30 am ET

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TESSCO Technologies Inc. (NASDAQ:TESS) Q4 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to the Q4 2020 TESSCO Technologies, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instruction]

I would now like to hand the conference over to your speaker today, David Calusdian from Sharon Merrill. Thank you. Please go ahead.

Executive
David Calusdian

Good morning, everyone, and thank you for joining TESSCO's Q4 2020 conference call. Joining me today are Sandip Mukerjee, TESSCO's President and Chief Executive Officer; and Aric Spitulnik, the Company's CFO.

Please note that management's discussions today will contain forward-looking statements about anticipated results and future prospects. Forward-looking statements involve a number of risks and uncertainties, and TESSCO's results may differ materially from those discussed today. Information concerning factors that may cause such a difference can be found in TESSCO's public disclosures including the Company's most recent form 10-K and other periodic reports filed with the Securities and Exchange Commission.

With that introduction, I'd like to turn the call over to Sandip.

Executive
Sandip Mukerjee

Thank you, David. Good morning, everyone, and thank you all for joining us. On behalf of all of us at TESSCO, I want to send our well wishes to all of you during this challenging time. We hope that you and your families are healthy and safe.

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Since the beginning of this pandemic, our number one priority has been the health and safety of our employees, our customers, and our suppliers. We're also keenly focused on the integrity of our operations, the continued delivery of our products and services, the sustainability of our supply chain, our liquidity and financial flexibility.

TESSCO is an essential business as defined by the Department of Homeland Security, and remains open to serve our customers and provide support to our nation's communications infrastructure needs, by providing critical equipment and vital services to fill the urgent needs of telecom companies, service providers, emergency responders, law enforcement, defense and security personnel, as well as thousands of private entities that support these groups throughout our nation.

In addition, several of our customers have asked us to support them in providing PPE gear for their crews and their employees. We are utilizing our supply chain resources to source masks and sanitizers, gloves, goggles and disinfectant wipes. We have received the first shipment of this gear in mid-April and began shipping it immediately to our customers. We are very proud to be playing a role in the recovery process during this pandemic.

Most of our non-operations workforce are performing their duties remotely, and the transition to remote work has been seamless. TESSCO's distribution centers remain open and we have taken measures in accordance with government and public health requirements to reduce risks for our team members who need to be physically present in our facilities.

I will now provide more details on the effects of COVID-19 on our results in Q4 and our expectations as to how the pandemic may impact each of