Energy Focus, Inc. (NASDAQ:EFOI) Q1 2020 Earnings Conference Call - Final Transcript

May 13, 2020 • 11:00 am ET


Energy Focus, Inc. (NASDAQ:EFOI) Q1 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to Energy Focus First Quarter Fiscal Year 2020 Earnings Conference Call. [Operator Instructions] A question and answer session will follow the formal presentation. [Operator Instructions].

I would now like to turn the conference over to your host, Mr. Brett Maas of Hayden IR. Thank you. You may begin.

Brett Maas

Thank you, operator and good morning everyone. Joining me on the call today are James Tu, Chairman and Chief Executive Officer and Todd Nestor, President and Chief Financial Officer. Before we begin today's call, I'd like to remind you that we will be making certain forward-looking statements. These statements are based upon information that represents the company's current expectations or beliefs. The results realized may differ materially from those stated. For a discussion of the risks that could affect our results please refer to the discussion under the heading risk factors our most recent 10-K as well as most recently filed 10-Q with the SEC.

The company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by law. Also, please know that during this call and in the accompanying press releases, certain financial metrics are presented on both a GAAP and non-GAAP adjusted basis. Reconciliations of adjusted results to the GAAP results are available in the tables attached to the earnings release just posted on our corporate website at in the Investor Relations section of the site.

Now, I'd like to turn the call over to James. James, the floor is yours.

James Tu

Thank you, Brett. Good morning, everyone and thank you for joining our first quarter 2020 earnings conference call. First of all, I hope all of you and your family continue to stay safe and healthy in this challenging social and economic environment due to the COVID-19 pandemic. Like everyone participating in this call, we have been watching the development of the pandemic and following our Coronavirus contingency plan very closely, and responding to changes as timely as possible. We are fortunate that our employees remain healthy and that our factory has remained open throughout the pandemic.

In addition, I have to say that despite of the ongoing macroeconomic challenges and stay in home orders, our progress towards building Energy Focus into the next generation of lighting industry leader had not fold at all. Our employees, either at our factory or from home have been working very hard and very smart. I believe that the pandemic has challenged our team to be more creative, more efficient, more passionate, and more collaborative to accomplish our short-term and long-term goals. So for you as an investor of Energy Focus, as both Todd and I and our board of directors are, I'd like to say that the future of Energy Focus is not only much brighter than a year ago when we studied the restructuring and relaunch program, but also better than three months ago.

As you have seen from our Q1 earnings release that