RF Industries, Ltd. (NASDAQ:RFIL) Q3 2020 Earnings Conference Call - Final Transcript

Sep 10, 2020 • 04:30 pm ET


RF Industries, Ltd. (NASDAQ:RFIL) Q3 2020 Earnings Conference Call - Final Transcript


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Good day, everyone and welcome to the RF Industries Third Quarter Fiscal 2020 Financial Results Conference Call.

[Operator Instructions] As a reminder, this call is being recorded Thursday, September 10th, 2020.

At this time, I'd like to turn the call over to Mr. Todd Kehrli of MKR Investor Relations. Please go ahead.

Todd Kehrli

Thank you, operator. Good afternoon and welcome to RF Industries third quarter fiscal 2020 financial results conference call. With me on today's call are RF Industries' President and CEO Rob Dawson; and SVP and Interim Chief Financial Officer, Peter Yin.

Before I turn the call over to Rob and Peter, I'd like to cover a few quick items. This afternoon, RF Industries issued a press release announcing its third quarter fiscal 2020 financial results. That release is available on the Company's website at rfindustries.com. This call is being broadcast live over the Internet for all interested parties and the webcast will be archived in the Investor Relations page of the Company's website.

I want to remind everyone that during today's call, management will make forward-looking statements that involve risks and uncertainties. Please note that except for the historical statements, statements on this call today may constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. When use the words anticipate, belief, expect, intend future and other similar expressions identify forward-looking statements.

These forward-looking statements reflect management's current views with respect to future events and financial performance and are subject to risks and uncertainties and actual results may differ materially from outcomes contained in any forward-looking statements. Factors that could cause these forward-looking statements differ from actual results include delays in development, marketing or sales of products and other risks and uncertainties discussed in the Company's periodic reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission. RF Industries undertakes no obligation to update or revise any forward-looking statements.

Additionally, throughout this call, we will be discussing certain non-GAAP financial measures. Today's earnings release and the related current report on Form 8-K describe the differences between our non-GAAP and GAAP reporting and present the reconciliation between the two for the periods reported in the release.

And now, I'll turn the call over to Rob Dawson, President and Chief Executive Officer. Rob?

Robert Dawson

Thank you, Todd. Good afternoon, everyone. Welcome to our third quarter fiscal 2020 earnings conference call. Thanks for joining us today. I hope that all of you're staying safe and healthy. Similar to our last call, I'd like to start my comments by providing some brief details around the significant challenges we experienced during the quarter and how we responded. Then I'll turn to what we're seeing now and why we think things are finally moving in the right direction.

First, the fast summarized version. May was a very tough month, the quarter count better from there, while sales in the short-term hit bright spots, where the gross margins came away up to nearly 29%. The bottom-line improved