Columbus Mckinnon Corp (NASDAQ:CMCO) Q1 2021 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 10:00 am ET


Columbus Mckinnon Corp (NASDAQ:CMCO) Q1 2021 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Columbus McKinnon Corporation First Quarter Fiscal Year 2021 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Deborah Pawlowski, Investor Relations. Please go ahead, ma'am.

Deborah K. Pawlowski

Thanks, Jerry, and good morning, everyone. We certainly appreciate your time today and your interest in Columbus McKinnon. Here with me are David Wilson, our President and CEO; and Greg Rustowicz, our Chief Financial Officer. You should have a copy of the first quarter fiscal 2021 financial results, which we released this morning before the market. If not, you can access the release as well as the slides that will accompany our conversation today at our website, After our formal presentation, we will be opening the line for Q&A. [Operator Instructions]

If you'll turn to slide two in the deck, I will first review the safe harbor statement. You should be aware that we may make some forward-looking statements during the formal discussions as well as during the Q&A session. These statements apply to future events that are subject to risks and uncertainties as well as other factors that could cause actual results to differ materially from what is stated here today. These risks and uncertainties and other factors are provided in the earnings release as well as with other documents filed with the Securities and Exchange Commission. These documents can be found on our website or at

During today's call, we will also discuss some non-GAAP financial measures. We believe these will be useful in evaluating our performance. You should not consider the presentation of additional information in isolation or as a substitute for results prepared in accordance with GAAP. We have provided reconciliation of non-GAAP measures with comparable GAAP measures in the tables that accompany today's release and the slides for your information.

So with that, if you will turn to slide three, I will turn it over to David to begin. David?

David J. Wilson

Thanks, Deb. I'm happy to join you today for my first official earnings call and what I anticipate will be an exciting and rewarding journey together. It's been a very busy and fast-paced eight weeks for me at Columbus McKinnon, and I'm glad to report that my family and I are now officially residents of Buffalo. We've also completed our New York state quarantine restriction period, finally. I've been impressed with the responsiveness and agility of the management team during these unprecedented times. While onboarding in this environment has been somewhat of a challenge, I have been able to visit key Columbus McKinnon enterprise locations and manufacturing sites as well as meet with a good number of our team members in person.

Technology has enabled me to actively interact with our team where I have not been able to travel and meet in person. I've really enjoyed the energy and the passion of our team, their commitment to driving results and the opportunity to begin building relationships