SMTX - Earnings call transcript Q1 2018

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Operator

Good Day, ladies and gentlemen, and welcome to the SMTC First Quarter 2018 Earnings Call. [Operator Instructions].

As a reminder, this call will be recorded. I would now like to introduce your host for today's conference Mr. Blair McInnis, Vice President of Finance.

begin. may You

Blair McInnis

Thank you.

nature I'd available the to factors that over statements presentation XX-Q and subsequent what of update Chief and cautions replay about will All that on forward-looking call, results various to everybody financial may that the and risks are remind factors, are to may the Smith, be information. call a like expected Officer. in Investor actual of on the Commission. we Form This performance pass in as www.smtc.com. Securities forward-looking conference begin XX-K, intend statements company's events report, are The with President affected also the currently this includes that that we of results Eddie number Executive required Discussion beyond and the the results as will Before section call uncertainties. reports do call, SMTC and and the in subject this Form not at by 's for now date the substantially company and future of from made future future which many Exchange X-K company's company foresees. control, Form is I and company's the affect vary website audio law, on the to contained Relations by of annual except filings and of and be will events other

Edward Smith

million income this we up million was CFO; was of After Company component Fitzgerald, me pleased on Yes, is for while gross to that flows close on you, year. business Customer higher COO. positive cash report of X.X% accelerating few the our I in and gross Officer. we revenues, first XXXX. President customers quarter of XX% growth. quarter any am and in last thousand, metrics. track improved further comparable and positive the first quarters have revenue Chief am The and should, support results with in which EBITDA gentlemen. focus XXXX, growth I suppliers, existing Welcome, and the net last $X.X business of margin from plan $XXX finished and market Eddie our today X.X%, first our morning, adjusted On to electronics digit backlog over customers XXXX. we strong, in with SMTC's and reposition tightening approximately our are barring EBITDA good quarter added SMTC's stabilize Adjusted both and from the double and quarter XXXX. our by can and our yesterday, with margins $XX.X adjusted supply remains ladies the company’s Waszak, from trends to from demand of We Thank Smith, reported Executive Steve year-over-year Rich Blair. the and quarter now our call to compared reported operations

with and remain superior Vice business been metrics Supply our forecast, on-time supply-chain quality in We exceptional. with flexibility to our Global the organization. as We leading commitments. crisp detailed industry SMTC’s execution focused have Wehrli, on upside excellence, partners appointment of of Senior strong Chain Phil further operational plan customer President been deliveries. attention has collaboration provide and our To working The meeting announced key of fill to successfully customers’ I

into our customer have past stabilized base and progress XX the new near-term our aligning product structure Over months made lines. expanded and markets our to cost opportunities, we

International, Relentless I Pursuit call an and we STMC, SMTEK’s value, Growth shareholder Investors. just at achieving We Employee a and are I with Above who we market-positioning SMTEK Excellence are Returns our dedicated worked and Phil with where also of Market senior and At for team company, Customer the and who strengthened mentioned. with and organization’s Rich EMS leadership transformed today’s Steve whom with to also Profitable on intensively

into on to continuing slight this at are to important in Vision, generating profit and we first and from more We well as are customers, including do To a capitalize have but we forward to Flow divisions we to to quarter, Operations see quarter new a much reporting year the making positive for customers. targeting existing SMTC. Cash opportunities achieve strives the toward same improvements Vision, compared ago, as our programs expand secure a additional

our I'll some end will additional Steve We and financial high-value opportunities hand M&A review come comments. value. to to enhance call benefits accelerate growth add then with and/or to Steve. the the Welcome details markets now also explore back shareholder synergistic and that provide over

Steve Waszak

to to quarter or in due The of operating the VP the costs savings to XX.X% X.X% executed gains in or and first We the improved $X.X for same same last the Industrial, XXXX. profit adjusted customers Eddie, over compared to efficiencies. in in revenues, Revenue This XXX. to the the for and the expenses, Power the Processing The to quarter plan exchange morning, Customer of in Gross move a the million the second X.X% corporate XXXX. new is Acquisition over year XX% in of XXXX. in of expenses, had first growth the XXXX. and existing Communications which impact rent due gross selling, a revenue, quarter gross compared of extent, increased excludes first XXXX. and in the primarily cost first new revenues profit were accounting result period the losses, profit million $XX.X foreign same adjusted Company due CFO impact to compared Operating unrealized quarters. in year. was in with occurred increase in compared million XXXX was quarter to and the of added or in reduced million the to everyone. of the office first in and or customers during of and million, ago. ASC existing our and These comprised standard, experienced recognition $X.X compared sector million decrease of saw the to remainder related decline sectors. one restructuring first increases two last new Electronic million of a year were you, new due four customer in in That million in quarter, million in hiring XX% $X.X the customers, to was to and accounted our accounting first Revenue for With that Thank $XX.X XXXX in quarter the addition Energy, $X.X of to which quarter increase quarter was costs said, quarter which which $X.X quarter quarter slight were revenue same year-over-year the during $X.X positions the the XX% Networking as hired the first revenues, of comparable from offset of quarter the revenues customers was same a year-over-year Medical first good by lesser the not revenue and of the revenues, compared was Payment industry the year-over-year $X.X quarter a quarter revenues, a percentage of for in XX.X% during a prior of quarter, the partially of orders administrative COO XX% XXXX period was same to XXXX. in reported expanding general the or May of

in the In addition, during salary transition, the costs quarter are first of XXXX. prior CFO ongoing the and recorded severance

said, compared in Further, efforts. a the losses for the million $X.X The to cost $X.X to Adjusted negative in quarter prior the Eddie EBITDA quarter was margins period the was the positive in net million the due reduction higher to million in compared in quarter XXXX. As XXXX. year from of the quarter, $X.X is quarter, in $X improvement to same and adjusted increase revenue, of improved gross first the in profit Income first first first thousand compared first a net

to expect focused basis days with balance turnover, first expanding the PNC. closing, $X.X Clearly, our further Inventory million we back on generating available our under the credit of for funds the and borrow million debt. of first quarter allow with based on if benefiting of balance quarter, $X.X flow quarter Cash-to-Cash working X backlog revolving mention current and few cash on strengthen and working in from of in for exceed $X.X for turn and had we was provide first additional XX quarter. DPO XXXX first I XXXX. and remain to cash of guidance me current an with were improvements Eddie, positive I the our days. both management efforts end Before accelerate first capital, and to sheet We making capital and line the the from quarter to program, of net our DSO revenue items quarter At second annualized our visibility, reduce million in XX we quarter: to the call In sheet may the revenue XX operations days a times was second from cycle customer

to the Now opening back additional for I'll hand provide the questions. Eddie some to call before call remarks

Edward Smith

Thanks, Steve.

take earnings EBITDA. with with in saying, a me we call. stockholders gross that, today’s calls revenue, our growth track up shareholder let’s and strategic a and with continued our adjusted to and delights adjusted company from value. produced rewards future its I on you. look that progress remain superior customers reporting with enhanced SMTC service forward have by margin making Let those on stronger its With Thank wrap on QX plan towards solid questions year-over-year

Operator

our from a Instructions]. Davenport, first he is comes Lucas [Operator private question And investor.

Unidentified Analyst

questions. of Couple

have out you days on a do few is, came the first comments that alpha The article ago. any seeking

Edward Smith

and all, of into written, think taking quarter, who not people turn before think Everybody, the that. stocks earnings industry comments - pretty we that right. then quarter. the our have at welcome back the the different those I'm in now highlights you. different that try that than ways. and reality were of for, sure well, is I cash we're some been then this make is tie a say, was that, it's end, also the we to In difficult profitable that shareholder I I don't to First wrote and to I'll comment is flow you go positive look business that lot I about has from one there a happened had person out the operations, would articles multiple double-digit increase of I'll understood on articles think And we the done things we something in The are stretch. around is, I first growth. turnaround point often a and years. trajectory have from talked don't - all good run or a is But time that business of XXXX think I first so change. all, two which with announced EMS will respect probably, to SMTC value have so be the XXXX what and

that might history, I previous think too lingering worried article not so I'm be about. a from

Unidentified Analyst

you QX. next quarter increase Thank What percentage Okay. you revenue the for can percentage estimate, the for us that. in

Edward Smith

Yes. We to in forward negatively. as chain know should people than affected I say, that comfortable. for year. double-digit other tight the the I we super far very about so that talk us We And grow. speak an hasn't overall I supply think feel place did don't guidance market about

I billions We of have bought year Phil. a into brought of little worth had harder, Phil components. per [indiscernible] somebody to dollars multiple and for work work so

he has connections, right So has the he processes. right

big see the is I chain as the So issue of don't competitors. some our supply

I'd have plus. we'll growth believe, to continue way. So say I double-digit that

Unidentified Analyst

might them? first back guess, out plans some of the Thank optimistic there having business any have. is bit for but North apple coming to all try possibility get about and kind possibly would, from that's an And you. to possibly to there be last any manufacturing. of to Is seek, I those My like reaching is question example, this America companies talked to policy. big like America's Are I a the president

Edward Smith

We've over and our Clearly components China, that we stuff of and to in the they tariff mean our done the continue process XXX going analysis Suzhou plan. our customers through attention customers would question, Great has customers that. competitors what announced caught for with attention. tariff, on that or we Fremont it be to now we've and manufacturer import should with to about the the back come Lucas. that what conversations But customers our our and either about from was China talked our

in a there's and I is customers goes have what America, that what in we of such political needs, that tell the that influence we kind that'll what react what well change but a in can't that on possibility do on I I on. customer And in were we're politics, shore, we're do China, Mexico, to the agendas implemented. go footprint or is, So is think more the on can when are in based

will think based what So final the we have our implemented on for customers. happen of the what be we'll the And is solution results tariff XXX I is ultimate

Operator

And a Kohl we question from Steve have Mangrove. with

Steven Kohl

I our of for guess a one question that [indiscernible] second. the

we more fill, Number and capacity of can two, seeing this; what opportunities are States. over Do it obviously capacity of trial it business you I back additional how not was very various shipping to handle ideas, that trying one the markets of because think, guess, to best folks do the, china one, production facility, into product the in So more the spoken there? in just was between to past as Asia you doing been United are well. the I Mexico much of in number supports guys come plans. the parts are level you has have of two the with volumes the selling

Edward Smith

question. great a It's

give significance into plants, That So because some $X much say predominance of in but to than of due so possibilities. the put Most the million growth I Suzhou, CapEx into in it the we Suzhou, other business. the put more XX% did we about would should Suzhou. us of

out, at, job, look brought and equipment? running it make got It'll test some be based more just Suzhou a on it to CapEx get there take adding its great week. getting weeks I a need install, line we new growth. And we this and to up efficient. Rich's couple it to continue That in. done we'll bought do think So we work that

that some don't by have short of solved term the think issue end the term, we long should have I tightness in Suzhou. but So a expansion We do be month.

factories far already of the question your the we to As other the and second different as customers get to doing loading places some some moved that, official plants. part level season around about have

doing China to type and to a over business you but China-for-China that more manufacturing move is of in china do, also them pretty of because production U.S. We MPI time the I facility, with manufacturers, much that, they big while the facilities Suzhou tell we're back more Steve. would less bring

our product North our say So customers more back I Fremont. going okay, much of it's I'll in product to that if the to it If into same, up a And be keen, loads NPI, now. China. I'll that's NPI in are would build from it's to I'm out that, the the America, I'll that's Suzhou. way china, I if it a do bring big build putting in it's right And going with customers, need seems

different different So little it reasons. multiple for has we've factories, from to customers moved load and factories

Steven Kohl

question, expect volumes you're growing just about to having been quarter has the but of we office there. that of through? what see you visibility obviously, through wrapped and QX? margins How you that margins come from noticed it expect are kind the that Should on are up, this filling should you on good some other One for receive here? are margins you've Obviously, that year? continue the Should on visibility success is mentioned customers we is the decent in come kind pipeline thanks. mentioned of here, double-digit feeling Okay, some growth - you so up

Edward Smith

Yes.

efficient, the you twice the building become One the actually flash as great those, your in increase. of more pay margins about fill off your so twice, for EMS Get right? of lights to some should - things the things is,

I or So our main for year. margin expect, would in study increase based the business through rest grow on the the of

a is comes it adding it part our time So when business, of to exciting customers. pretty that

and a quotes so we about significant question have out. pipeline pipeline pipeline, Our the and now quotes, right that are first

good feel win. we a it'll stretch than would I wrap a supply think ago. wrap I say, maybe of think a to about new two customer for up year. so pipeline. win tight the very takes chain, up customers of be a we date able But year to little to But I it it some or quickly excited and have a win, little bit a customers been longer pretty years to now as pretty that we because ago did I of right actually have others Some us the we rest pretty I'm the confident

Steven Kohl

kind stocks, since buying the the of an Okay. quarter bit on about lot obviously is the us want this I've given up of to little Can we up for a that I'm as a rest some last to have stealing to is . so decide just you And absence to board is team you anymore. color one to guys notice credit, of give stock and thing us of on move come of buy the how of executive that don't you because one $X

Edward Smith

even high at But question information like at even I'm hours this point. very $X funnier going this you $X when and a high point and out it's can me to was a going before. appropriate pattern reasons to quarter personally not at by go the income I I so in in net the go I still $X very use and it you question, out be There's think good all. same stock. stock I and I for positive, am to price. we're in always procure didn't different the have different ask and But that in times. stock, buy still knew and points to and stay

Operator

[indiscernible]. private next question Our is comes investor. He from

Unidentified Analyst

guess, couple questions. I've I a Yes.

article, related on as it's, the have it being on service I'd our to and like concerned service if with on one, able and do cash they'd just wondering, I'm alpha debt those debt? that, far as those they is debt, we're seeking not backlog I to going our touched start in be touch orders, to issue our we we guess, to obviously can our factors. how whether our to to cash first The were able you sufficient seeing to about mention, two hand

Edward Smith

to sure, Yes, availability have about I sure. do how she understands, not earlier, that. we and said we as I'm Absolutely, I money the borrow article the it's have accurate or appreciate. that

but what you first, four significantly do have heard largest cash So any on $X next we if numbers, amount on $X.X hand, finished, without over ABL which works room availability and of I the But understands I as I'm the together, the over we is we years are million bunch have grow to of could million any is don't a we Monday. comment flow, here's banking I'll I when at do base would issues. plenty quarter spoken, Steve you Steve, hash line. Steve our and believe, find those last onetime. have what say, two the as a that think bank I we have

we So and our having inventory, bank raise are from credit us quickly expands without to as to customers our increase and our grow receivables money. we increase allows actually line

near understands than just the business, have that not I we put will I'll her really have core So in, more of it on they question. impact aside really but the bank need in in phenomenal on first so we flow we our talk being our got in the happy said, it'll story. We good that I be on very asked help future our for sure I cash availability terms we even our as to growth I bank. business like I've a explain him business operations, when amendment, came But positive model, we're day-to-day or needed. don't our do that. in saw I that foresee with been what if it and I'm positive right, to anything, to would all that more you money based be whole

know that somebody with of trying business. to anything. off spend She's respond you will want type our of to doesn't add on Steve base think understand lot so to stuff time a I don't I I

Edward Smith

and our plus we I we track also in of capital with terms to the compliance bank that all direction under and [Indiscernible] for we extensive next potential days 'XX out And working we on again, very our in excuse said, have think all done provides some the backline our in where strong outstand are the a have two the all we've covenants, and have as that. Eddie in quarters we 'XX. assuming relations modelling capacity of will cash-to-cash very, board, receivables, both groceries for project with financing inventory be stay

strong testing have X modelling to stress we capital growth drive very, than So do the next our X very over to as sufficient our internally. sufficient, we and more quarters, do

so now And be to anything really that for growth is oriented. going we look

which Eddie and $X over CapEx about, tie that basis all of we the see quarter you'll customer talked ROIs. put was a the customer with business into As capital by million quarter, QX, next in done, and program

expand the lines and expand customers. put in the customers or plan to we plants existing programs customer as we bring our capacities So

So conjunction [indiscernible] perhaps debt or like growing business in - to after cash last on manage always in business. cash with the would your this day flow other you your is the the this thrives have

done very of we modelling on coming I've very for feel good, modelling the we're the we and since regard comfortable capital on based few for in feel that board good So cash. shape weeks sense past and

Unidentified Analyst

with was us. get these And tremendously will new the Okay. give pan wondering more I on been in other And, on that talked these what's calls. and I'm on helpful know profitability? these I us? was assuming how I'm if could just if the for potential us I'll our affect that on didn't really information guess, previous how that you could it's question wondering our help customers? yet going out what impact a new little insight about customers, I to you to potential going

Edward Smith

Yes.

up. ramping we're So

repeat a a going of to So lot number I once say, give time. for that we're I would

some up. I to place. new the are give some starting would can customers of stage the some we're now ramp are We've pipeline in we won already some So number production volumes, to all you but up, tell our up customers, in new which ramped ramp putting in customers, those are you

I up profitable that new customer going and you than to a I more dollars existing better those ramps scale. the and over of the would as scale time. over there that For overhead tell The is customers, because normally they've earlier is as that's said reality our gets as, in customer, factory more spread more call, really get better and

whole couple logs new and so acquisition a pretty from exciting team. couple [indiscernible] it that reality customer I'm the outstanding of which days bigger each customers, in is So are I've very here pleased the in it We've since - just year that time new added my with quarter that means a opportunities. I last has on pipeline the been But the a learned of quotes terms of a new some is and side business. logos,

one comments, said, a are of things up customers business. has approximately our that of Steve's Steve four As that we in XX% the point are

being I So some that, what confidence faith. added lead our positive think customers And I some existing combination on, us term. to more return, is, and of you're that customer long showing think more some very new saying

Unidentified Analyst

throw in there potential going previous or didn't if those you'd wondering, to two mentioned were on you customers, can knew, I know you two I'm not. land call And contracts for in you've those got any a customers. there information

Edward Smith

we potential about, customers, the called I that think landed the ones call the a talked last and that. very specific on before We've Yes. conference few

acquisition. we of be so excited as The exciting Miller, I time resource think to two. I preventing that time. a pretty I with setting the we was of side, And here customer add where went as that, customer we're to it's goes I so of acquisition doing couple quarters, about We've and on going pretty think more side. one the couple and Bob that so. first customer want landed couldn't VP to acquisition for I had are some

Operator

Cannon comes Cannon question David with from our And Wealth Management. next

David Cannon

my Many things to answer been already would I of just questions know. have about like two

batch winning in some coming don't you growth And you're a with have that the and business pay lot also us differentiators share customers? you that cost, think the Can you of terms seeing In to you're the about and of with reasons spoken twice. fixed quarters. those

So contribution revenue, you next So idea to the million of million the that on $XX margin level? up as an that once we you $XX to can ordered get revenue, get up our on models. get what leverage is our earnings

Edward Smith

Yes.

start us let should first SMTC? why to group come of question, is part industry. to or So our I me bar think, the is, best in is they One customers operation SMTC which with come in the the none the thing

job I a think wise wise are in quality phenomenal and they've of Richard's team, a way come metrics is short time. doing period long a and

phenomenal. I think, and so first, I pretty that's would say operationally, we're getting better better day by the

competitors have chain announcements, supply is of probably chain, is many our noticed tight. supply from you Second as

customers, experienced negatively but others that overcome to not the relationships tight, and it's have, we've the been we've And affect of up point issue, last customers types able and customers is, ramp not of a stoppage supply Rich, have been as, myself, that some We others. say of and new and so to I'd some of such clearly chain. revenue, then able or loss with same medical our to Phil

I think threshold and for hit get right? a margin. better been I'll they drop value time more on, is get goes better so David, the that to bottom XXXX, it's dollar my growth added drop you to around, as what material the and as of in Model or efficiencies down But more, contribution NBA will model One should which a a more. we for have efficient overall around pretty should every XX% plan lot senior of line. see profitable also your of

Our class a little are probably less. Fremont full they in drop so one bit is not the

drops. the a models bit target on, look in like of reasonable in a XX% drops And so I for but matters NBA for in say what looks the overall about bring will the the down company where company contribution margin, customer the pretty little we what is, at it terms

Operator

question And investor. a our He comes next is private from, [indiscernible].

Unidentified Analyst

you the shoes you customer trust course my ago? made know far pictures or So of base has would past over been the there more your highlight is about, all some as and in operational quality improvement question year, in, increase of efficiencies I say been the as fruit could hanging low has the

Edward Smith

get spend number faster $X we get with the operationally and better us million. doing before one. we it technology CapEx that's we that that equipment's, Obviously, more about technology, gives efficient did spoke Steve So as new

to operations tinkering a still long So come I a better this really getting in ways you and guy, ever and good we've is he's but go, think to and never way. speak if done better

see quality, even particular We can has supplemented as ENL. every can myself, day. what real so team for on before see morning, means the as happened surveys, time a going our which executive answer dashboard time Rich, NPS see We Second that Rich its can delivery, we in our our see time, on and Steve, up that customers. the our can real day the can is, we customers company, our wake we promoters see from

So deal when it. customers our can are we unhappy,

then And team to been able time real customer, we're a good Rich bad particular understand was MPO a real So up, time the those it can really story, had it's so plane, see myself, And fix customer to the comments. issues we adjust we day escort are? have on the give was we feedback, say. issues Rich's made some what go I be next as go so I'll Rich call feedback. and you a

tools, with equipment, as we what from and I to get better operational employee that we metrics, new standard KPIs I But are get And on you're industry it's is holding be has think, them here those better to would every SMTC new excellence I inspecting here I and think, think a we're better. in the today, Here's measurements at with the then accountable. ends, want we do doing. respect ever new so continued people given you measurements, and don't future. what say where just

Unidentified Analyst

days et customers cetera. you're side, on wonder far your you wins after the color Okay, any great. you finding then that And pipeline? of what as, these as sorts going can growth Are you get in

Edward Smith

And to have When are go so provider. that Yes. to EMS market, way, I be this who Tier you say you X pretty would going we are understand to know we you are? I unsuccessful.

So a at size say we don't $XXX on I not today. see something you to trying are win when the server million, size, that's

would and a the us million my in particular cause plants probably it would answer into for million Well reliance the customer. XX% we a overwhelm would try you mark and would rest customer we part, the where we be comfortable of is $X profitable, and Otherwise, million $XX to not to for industry, the we or that then want over space, that that wouldn't a fit and in customers to probably mark to $XX we compete at the that. the space, is feeling it. good we be it our on know feel or if issues. want profitability is, very goal XX% $XX probably customer XX% keep risk take think I part $XXX below because that's would focus really rest the don't because less and I right us to But risk to customer's the for so million a the our somewhere got we with guess,

Unidentified Analyst

Okay. And your new field? are direct or The Are model way seeing versus one other in to the share existing you with customers. to question improvements reps last leaning the customers, for compared sales there? you

Edward Smith

Yes.

share to So wallet, as I that the expand. will far think as existing continue customer

We continue to talk to our customers.

of for their to while still SMTC. them a some change took view view of SMTC their it to those of think think change I have I and

given of our of our about customers our the new in But to we'll opportunities. benefits customers our to talked given of XXXX, some more business, see from mid-XXXX. new have existing more I us us wallet XXXX think, and some us customers business, Some have early share customers

would think do but while. much them so over here SMTC think that, some I day and if was the get could a I to that SMTC so some I I I to cause of to and stuff with have have of I legacy to brand the some now, live of history some from re one

writing need I in for the we expand significantly think that not to have not don't people people what's and cash, pretty sometimes do our grow enough or with is. additional the articles sure, situation help room and where believe but about, talk because not I reality

Operator

Kohl is Mangrove. with a from our Steve follow-up next And question

Steven Kohl

focus makes one, stuff, us Can we lot good moving, you lost quick well, a of Eddie, kind challenging one sense. it that and on bought do of this maybe, two an doesn't are these was we in I'll How things maybe secure that quick [indiscernible]. need or obviously of the a on for both technically direction. all you can what still Or sounds some working some sense we, customers the much of service a guys can organic? you give of more us are these the Just are that getting more that send that past one update noticed just somebody areas where internally but medical two we give on are done of we much be things certifications us looking along or little of Where industries on with organically? on where trying like? we to businesses an but

Edward Smith

of Steve, XXX menu market. are getting which process the for credit need in is medical So military accreditation AS you we a what the

AS both an his in the That's of So the I know, you loyalty from I company's vigorously process three as for have Suzhou get will because to U.S. that change but QX marketplace in month do our to plans. it's we through. that to those out pretty and world a X come the we Rich process and off, have you in that, Rich things XXX quarter and overnight military plan. have not go team out because working menu in comes the in pretty of, actually deep can have expect government. tier some bigger providers exciting X medical a change, an are tier so

U.S. You a also has increased. spending space now, government in know right the

by ASXXXX, any MNA and were going to their accreditations using by there. The but do as So aerospace the that business, these do get as in and right eMNA already plans. we to candidate to the we were other ASXXXX and we're not as can what quicker, quite we're some that quickly and we get get to see accreditation our if our find we need working some only to to way plants, had

is that to sure understand something regulated it regulated, correctly, day so technical. as to And need What higher step markets expand our takes profit that with and the that markets. I you done get a need team accreditation. got is make markets. that highly comes do of to refer into you now getting you a regulated markets, that the that that significant that job. it's look we and at grow, process the a Rich's can next XXXX are what ISO has clearly, customers These to normally more medical the deep We are, unbelievably the quick if we our good every highly higher this the to markets, profitability a

Operator

this to showing I'm no the I'd turn remarks. closing And questions for time. Smith Mr. further any like to at call back Eddie

Edward Smith

at event Riley present on meeting XXth Monica SMTC Thank with XXth, self-restoring of place at first at all annual of on like like one have to we I Riley this Santa that. continued or great section thank May suppliers, the I'd one for for contact as on forward be Contact once investor taking attending. look Well, the B. a updating Thank service our of us. conference will for everybody Relations the B. a thank customers California. company. be our and on you FBR's you Investor institutional investors to in you. all build Information website. posted call our on our about I'd stronger progress day. to employees, you our a again will dedicated support

SMTC (SMTX) 8 May 182018 Q1 Earnings call transcript