WFCF - Earnings call transcript Q3 2018 | Where Food Comes From, Inc.

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Operator

Greetings and welcome to the Where Food Comes from Third Quarter Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions].

As a reminder, this conference is being recorded. to Investor conference Relations. like host, to now Pfeiffer, Jay would turn over the your I Please ahead. go

Jay Pfeiffer

Good morning and From XXXX welcome to the quarter call. Where earnings third Food Comes

Leann today Joining the CFO. are Saunders, President; John me and call Saunders, on Henning, Dannette CEO;

I because a believes Management do they our consistent now compare impact company. CEO. adjusted Saunders, John? provides be on the on statements. certain that discussing an this Listeners our our our Chairman news about complement should adjusted course we benefit be we'll of measures documents these provided to turn to our non-GAAP profitability, use new are and Today forward-looking growth future items current not Accepted Principles. revenue, of the based statements are subject that website actual John customer not to operations. and we'll are making cause performance in projections and strategy, evaluating releases We encourage from there provided additional operating place a results opportunities, the of differ estimates factors filed basis investors more core undue the expenses, performance will Accounting review products and During many to EBITDA tool and and that We well statements from call also to with information publicly EBITDA, market wins, to on EBITDA potential call, financial on the forward-looking Generally and as forward-looking in our reliance statements. as reflect are of expectations, services, as results by risk. over believe acceptance for materially as could business which accordance removing Statements operating directly you presentation EBITDA and cash, our acquisitions

John Saunders

briefly recap initiatives. joining spent in going third and performance and our lot to then thanks on recent the We record today. some and quarter M&A morning I'm in the for financial going Good call time had a a

federal plan our future. believe In transactions of we are the these terms rule, going to

QX Third quarter revenue XX% to XX,XXX million. the last income would and a per net and push $X.XX From XXX,XXX Adjusted last XX.X%. through from in points share This Net to Revenue up in education and profit verification increased certification tags from growth. to finally and and audits system from $X.X year-over-year and included reopening. China Maintenance our from XX% from had tracking continue increased market revenue the cost of visit. much growth multiple the XX% Gross source X% And XXX Comes been basis higher third services $XXX,XXX good SureHarvest XX verification from million quarter from consulting year-over-year up day to increased $XXX,XXX. to to $XXX,XXX, of or quarter certification single revenue Where to and the $X.X up revenue good continue Product basis gross China related see fallen XX.X% $X.XX training million. have margin or million enhancements, its $X $X.X to up and verification Food to million standards customers, services. a Total XX.X% grow the the in $X.X X% have a contribution QX. $XXX,XXX $XXX,XXX product sales sustainability to as year. increased on was software $XXX,XXX EBUTDA $X.X the efficiencies as well in attributable software points flat. margins XX% from million to verification $XXX,XXX in QX from support We Sunday XX% age year-over-year gained components variety bundling per services reflected of license. to up rate activity demand XX% into were notably range to income causing and from QX were upgrades The of our share

had so fact recall that third Some all we're year. very quarter that of of a growth last the of year, key proud a financial we really we year-over-year big good our metrics you this may in delivered

to Gross Now product million year-over-year that XX% software the $XXX,XXX. double $X year-over-year turning margin million. XX% including up margins components, to And basis a year-over-year million, support advantage. $X.XX and Total We XX% XX% $XX.X points from certification nine $X.X or in to included Comes to growth services to digit million from gross million XX to $X.X our license million from revenue XX.X%. to $X.XX and million or cash million major $X.X $XX.X period. Verification Where XX% ago. increased basis XX revenue million $X.X all $X.X points XX% year-over-year. EBITDA from year $X.XX to generated XX.X XX% profit net gross $X.X Adjusted from Net grew million services per million $X.X $XXX,XXX increased $XXX,XXX to in was consulting share to year-to-date, up up million up to maintenance year-to-date $X.XX attributable $XX.X month Food and per share increased revenue from certification increased million. up bundling income operations From from from reflecting verification from and

our to investments On detailed the being leading organic strengthened down million. beneficial more boarding umbrella making SureHarvest producers capital and $X.X on our make sustainability Sow short together organic that the Sow being nicely. space. I The other And acquisition it's Working remained solution role Organic solid we're large portfolio to new QX to customer and application activity. the million the touched our significant Sow for were cash compliments to from our The and M&A IP term of to Last industry quarter managed solution in SureHarvest another Organic business increased a balance playing equivalents the SaaS-based at integration solution. $X.X with technology under quite $X.X is sheet, on in enhancements coming it tool and due is how certifiers. year-over-year million our

pay and that have big use down those dividends an lines, along certification hopes will We have dialogue clients of ongoing their with increasing line Sow the about largest those platform. we for [indiscernible] high

Sow we organic already unit our to the are working well. AB ICS was and using as bring Our unit under system

better a to is get certified. engagement organic and certification remain documents producers organized Sow for records require into to that their

organic held a consultancy for opportunities technology road and over tools. SaaS JVF term. big only transaction the down cross services that We impact quarter, the In SureHarvest have we also designed completed customers. funding another a maintains see we can long that and third the think with for closely platform Consulting was small

will With the increasing JVF, suited our longer with Comes in talented us behind is driving mind, we that with the in process animal control, JVF human supporting people all standard quick consumer business was our it nature drives the Where emphasis the ourselves critical to our stock have technology higher for JVF. cost training we Food skin use. distance Progressive and of of other been the would same certification, of cost to is where technology team and have many accrues base, in to help To we From. transformation From by of our shareholders. acquisition to and a and the component due to close on the taking not want and Like degree like and SureHarvest verification, significant our the At and With our They companies team Comes retaining We had the acquisitions, of and there the valuable the to innovation to responsible some That data committed the have will the comprised IP care, always investment and who believe acquisitions enhancing important component solution technology, terms best Beef JVF apparent we're supporting acquired JVF most on to be spirit of of Where of and which competition. discussions fiercely of small therefore focus. The go of us time, in safety term product company those producers platform transaction, Food confidence real creating the customers differentiation value needs and food the antibiotic we became significantly to added share team find. safety, of industry times our to future to this should Beef summarize, serve on with units innovate the be can agricultural and engagement. ranchers. game. Prior I'll of and ideally an transparency embrace our familiar direction solutions recognize JVF shaped remain and the focuses in teams independent customer SureHarvest we the to food all wants our high be August, are reduced. believe incredibly driven analytics drive we intimately attracting, that from that that of but get and and Progressive a the technologists who further our sustainability has a the QX. us entrepreneurial update in the is agricultural has farmers better

retailers, the and a and verification customers. beef fresh quarter, is the processors lead the other service as beef its hope indicated you major IMI on that license of increase meat largest and the last our and of quarter intent our and program customers. soon purchase is behalf new country steadily last food What the Tyson the suit Global term long As since uptake to we producer meat processor of chains become large large other our the beef retail they program Tyson will restaurant service increased program. cattle supplier for to that program for steady first services. that follow certified of told unit to is is demand the In to number in has

that, So a take to Operator? few I'm with happy questions.

Operator

time, line this [Operator we you. Our proceed a Instructions] of the conducting from your RYS comes Advisors. will Please question At with Thank [indiscernible] question-and-answer first question. with be session.

Unidentified Analyst

to talking or question. if more my of further one. prospects growth potentially the morning, guys. don't second Would a you maybe just opportunity the Hey, invest prospects contrast top bit for your to why marketing little talk mind quarter? to And approach drive decelerated then various good and sales your Thanks. maybe and you line this there's segments, growth talk That's if mind revenue about you kind and Can first about about acceleration? also

John Saunders

great Rafi, questions. Hey,

I say I standards ability comply that about our factor and with we quarter doing customers easily lot for last started the a we're or think more easily to farm represent. of the I should of to what talk really the ranch many and innovation

couple quarters whole is our invested that So big tools SaaS and a our platform, chain, in developing a producers it's we of that that developing to enable and obviously time business. that last our future through stickiness believe do in and part of that JVF, a model and say that probably of up we've of part the the I and activity majority our M&A big of Sow would to is our

So that pretty on was I've that. clear been us, for pivot a

quarter. from to units talked last we had our flattened occurred, think that I $XX,XXX had about I the there that out a actually some tag SureHarvest I of I and events one cost was that services of those of two also that part quarter into and worth perspective, push the was we fourth revenue about revenue extended revenue a think mentioned

combine year so China had record us So it's another quarter so quarter with an well with last we're was last was it up that year, of quarter. the it opened, been for as you if record third just that fact following impact the a that that

our what they're been way the you XX know I how we're position term numbers, the fair to with, direct they're I'll the term consumers in don't performance promises and in efficient that long really the they're for maybe over help argue little I very to able and they've The that have getting approach that that to you the look would each look last bit but a and slower provide acquisition refer the work what and offer transparency companies the service, world of making focused months, at company focus one that the has sure that So I nine efficiency producers sales significant. we food that since what And products we've and go right doing what see at CPG able that very marketing, that they're price a to Whitewave we largest the Danone especially if sustainability very they're with their that in the it's long a month a to efficiency consumers. now, of their we I the again large on of units increased to producing. are they're and the our on. of deliver made which of food, the and producing the and focused would on suggest think I And Danone the them they're the growth

things does in on our and they we've it's these the seal with Where with co-marketing. perspective is had we the them, especially products. that and grow are that we've And agree way products attack small they're Comes relationship have to through with from more selling been which of Food sales that around Danone. All we Year-over-year relationship company their From and very co-engagement year we able do way more The to with have, going a XX that really the global companies. much that

a not that X we you months our we on though or a and running. on sale commercial the have American have we flew flights those focused though targeted even Airline would were any TV So very even that ad very, structure of seen were you last see on may

we we and believe brands a we way of that things lot as and retailers moving those that really in. as believe have different the we that look focus to parts is it So as the far for again

Unidentified Analyst

hope I'll the you. Thank in Perfect. queue. back

John Saunders

Thank you.

Operator

proceed Private the your Our Terry from Instructions] of Investor. next [Operator Please Thompson, comes question question. line a with

Terry Thompson

but on wondered if idea if any any of you've Dannette It Leann, China? going the going on projections seems are Jay. in got curious to starting you and what's long place be term any And had tariffs I I'm things with John, like with to better just Hello, fall inside?

John Saunders

answer question, Leann Good let Terry. that morning. I'll that

Terry Thompson

Good morning.

Leann Saunders

How Terry. are morning, Good you?

Terry Thompson

doing I great. am

Leann Saunders

Good.

but its beef China not kind with lot now. some happening disaffected mean fairly good been more pork significant, the time, products some products, with of is Europe negotiations commodity of had more primarily meat the slightly on with beef than held tag own So if in the suppression well. core because of a There's as to tariff, I inelastic we based the similar production last a things discussion sales is right significantly. there's

So going in on with that China. with coordination what's

I trend still think long term the is positive.

rate product that were So for China we the still to see before. looking at the source packers they same

a changes in So Terry, unless we're something I think pretty good spot.

Terry Thompson

from over it the to I've said gets to it the But it I like work media. to wants way everything to been appreciate. I able Great. President's the seems what he get work. things policies are starting

the So much, thank my and you all. to best very Christmas you appreciate time everybody, Merry

John Saunders

You Christmas. Merry Terry, too,

Operator

comes Artko your the question with Please line Rabover with next Peter question. Our proceed of Capital. from

Peter Rabover

that, guess get comment on that, what's that? talk I think I so guys. you tracking could you curious can I and of your seeing going what you're Hey, about more was anything and business just about there would cattle the state what maybe you out wider to option appreciate is more

John Saunders

Good that right. is question. Peter,

Peter Rabover

Yeah.

John Saunders

asking question interesting, with in related product. to with China time the was about factor limiting it China beef. The the as to markets Yeah, was is tariffs takes I Okay. Terry perishable the thinking develop

of So that you city in in a so to distribution takes go that so assume limiting they just a can't and potentially have in China that's U.S. live that network, access to beef where may the everybody is all and not even factor. eat there's going time, wants

our long as factor it a to limiting such ready is animal other a the The markets very, beef it's for get beef that takes process very producers, China.

in of do. lot of a we see out producers don't we jumping and beef what what So

whole we've of a done, with a do year cases identification year. system same within even the twice the year. you into we've last what that processing to producers going these it If becomes helped do so of and effective electronic you many will or did producer next ranches because a cattle an their do, process you And with lot way it all once really create in just come contact you're your core if beef kind which

a and behold do very, to in other the really to be And worried thing had way working done producers their was I to going I and say it. a traceability, producer what nobody my did in the time. process takes coffee there they'll is a a doing was to you've convert a it's beef and of will it. I that to about do showed it's don't and typical ever shop on affect with going up that that have me theme And people when things done very beef know repercussions So complex, long my then neighbor you've and it antagonistic. how idea, I the get as complex talk lot was was the I was what it's we're we what to going then that and helped these business may

there it have and So to engage the peer out that to takes do to producers time that. are the willing capability engage,

much online project. what but for now suggest we you process with is have sure doing how easier, the those we're that's to interested, Peter that to I two innovate traceability are making are that those the traceability going we pilot how it. right keep too it's on predominantly and point want now. that of quick real do Texas And and pilot I going involved really I'm projects important get producers what look that don't you that we're right it's we factor how So more within for we go to would that do do

project, pilot which the facilitators, those of Kansas, developing private is in the is What's And public tool. are website? and consortium which which we're being a by the and funded Texas one we're Texas, of One for in sources. the

Leann Saunders

at. I have look to

John Saunders

the this involved the the you how that whole so up go and we your that heck But financial website, look the what benefit of work producers them it talking I'm is and mechanisms really beef and cattle like question, are if tools is year in about infrastructure, for you That thousands. exactly Peter involved that's with project do and about. the we the tens pilot all a can industry is a some we're opinion give producer very around it's economic have doing how animals. look answering head XXX very not your up. produces market to make that operation for talking system you're a producer, even below we infrastructure difficult you large we which and everybody's beef though you as and the of what that get And you're if do. the a to So, of that, are What the number a

So but live could them buyer just depending that concert sale very factors bar, potentially deals. major a take than a where of finding beef on cattle you difficult regional those to you is a of different lot

we're that affordable things the and really of focused producers. to is for smaller on make one So our functional beef services trying

So of to us. like are you with is. keeping that trying everybody doing of record doing is work that, certification today understand we book in potentially second organic audit a complex you your spend you on same a amount if to do a give do Organic requirement me lot phone essentially talking that analogy is of work your what The the producer farmer which and most about can I that hear small to as time the best taxes, and in Sow taxes, the you're do, whatever do exact required an professionals we you're set

domestic Well, so then think parallel, a trying it's organic pivotal I'm but of those potentially understand type China other do to potentially such farmer to and or with to with is to different market, very organic an So trying aren't parallel and it's say then it's tool a source not why foods very project, people age important thing. be that. And on European is the be an why similar programs. beef Texas mindset for to like farmer. the you a they're whole I there producers well easy traceability something the easy and organic, It is potentially verification, more comply market,

going work these and they're through iTunes software new in and they're easier always to get that functional solutions a just software building, tools adopt to like built we're they're we the other and So platforms make or of to now, for be our the solutions, future they're spend when to be producers ruggedized or it going our working I going for technology, how Apple time available ways lot to the make right technology. we're do over to like

significant but you're I spend you we details with so have doing important you Peter. that's here. what a of the a hope website exactly talking time And about amount

We But traceability get will out that out can figure if Texas a you sure so to it. Google the see folks project, way you'll get I'm you there. to pilot

Peter Rabover

the board so legislative California I I and aspect, you a passed there traceability sourcing, had there that you guess does that having food way I'm impact legislative that drawing on are just was I you're I follow-up that thinking more labeling, you're that suppose a farmers Prop the an they're offering? any maybe traceability guess from and out in in XX - mandate see how the if that demanding so things positive do

John Saunders

is pilot I involved USDA Yeah, specifically apologize. with project. the Texas the traceability

exporting a Peter mandatory the that identification only country program. major here have are So thing that we beef it's doesn't interesting we that is have

So that a it are position. voluntary most work producers even today, we towards even though compliance, doing with it's from moving

chain. two they're because Act FISMA BRC say specifically specifically, supplier that based group want growing was and the probably fastest and at be GFSI the Yeah would and recognize USDA based backward SQF, meaning to standards So through the and engaging Modernization started and and Safety that. level I retail they our supply producer Food moves processing are the

know implementation I our else the we're way increasing the means that do and would X, years major business implementation the SQF because business GFSI significantly everybody X, which X think of now our occurring. is and is companies into you So that of

always that's But uptake. always there's a traceability, producers California potentially of levels for have we're producers seeing shifting What says almost state state meet. disease where producer the very them. in been is then tag have in specifically unique that kind an highest ADT based our to the spot the and so issues, have producers we necessarily of bone animal the that to definitely the based, thing are around state my are increasingly, that especially seeing basis, And you're Nebraska that and one specifically or official So are probably has they tag. one a and that of rules from that cattle our disease, and And driving know veterinarian they're we uptake I'm state-by-state those with need each from on and perspective destination that's states they all disease the the where Montana they're state it's on this end requirements don't of of have and other cattle cases in identifying. if see very we

yes. So,

Peter Rabover

do? like in XX mean head States, think I of guess, cattle I the it's guys I like probably something number I United what's and think ballpark million that you the

John Saunders

of million It's actually and there actual is them some all long some me way but to United through what ranches. number about come of they in the cattle through XXX produce through of operations, of And sources them those million. year to stock about feed should dairy different a they take cattle come explain XX too produce but States, you, come each

Peter Rabover

now think from the know just know all years there's I market say adoptability what trying need do you always is that, today it but once are be I doing, don't X-XX market you figure Okay, XX potential these going to standards they share natural What they're a of number here? guess that is a am size like market. it doesn't with guess do so but to you do that's I not like you're I year as that for guess to you all your we're because know out the that

John Saunders

a it's States. done United it's unique the environment that it's Yeah, never and before first well here never of all, done been such in been

beef have mandatory an that in okay. supply has put has animal's ID other big requirement, So country you every those so a ears, to

States, me to to that So it's going uptick what in United for the impossible almost be. is predict

applies XX and the You beef. of produce a will I we XX% very think what that rule XX of vast percent to know do our the much majority producers

able teams them potential Our for works because to say long produce XXX,XXX but you term producers only be in a the we're it's are United of about to X% the of comply. that so sold that to role There's they smaller tell producers more important I beef million, than probably eventually to for you for the be is the not offer XX States difficult think but the the larger solution all more going we're industry. in verify being tag about that major, where XX% the will probably less we I are them than of source beef ID as

of to will But that comply a much that among provide on which the of I generate be guarantee to will board, producers will there kind for I'll solution at quicker a that's that - on larger their moves producers. be of best most importantly when return tables the to we is does me So that happen, from the be say I to that. go on And and will ahead. can the more the it I end investment, going [Technical the call Difficulty] everybody this some come company benefits out think those it when to group

Peter Rabover

that Now, got about is well I the and part think it's the XX. California that's XX Prop of

I sort catalyst, pretty make it's know like you so curious the and cattle it the or some know tends affects thing? towards of follow, to of business whether isn't in or how curious kind kind and just country so your specifically know anything prop rest California is what rule you passing else, big you on education of a that that when state seems why You your the I'm know more the they usually of of thought that am like just or Texas

John Saunders

though Yeah, to do there's regulatory so necessarily and I'll a - farmer that to And the has no it's start anything that rancher say the requires and all as move a question you what our think regulatory is that there direction new one in to but to I specific is of up component operations. in typically fast that producers recognize don't get to ranchers and things things that benefit. state, farmers more have of benefit. a

what that a see ranchers there means a happens production probably impact and California. and is specific just yeah So more result I but may beef that of since of would that part you'll be more California and that what something that farmers in out of as that will think move

us opportunity yes but a good it's hard for it's is the decreased whole a because So, be farmer. to opportunity

Peter Rabover

it. Got

Okay, Thanks, off then. hope I I'll understand.

John Saunders

question. You great bet,

Operator

from Our [indiscernible] next Please follow-up question a RYS question. Advisors. with with your proceed is

Unidentified Analyst

Hey there the follow-up talk providers, for and a the bit main we've just And my little bit of taking already on you second be? that the you to verification your then you're could how but price long in what know thinking of verification go-to-market? guys, that term And maybe in could to kind opportunity open sounds with market-strategy like software other the it kind question. about terms go-to thanks about the is touched a size of you're working

John Saunders

you them verification We of to producer is because a information transparency just provide Yeah here provider of all producer. that future to or first. keep that let to that go. one that There definite have do collaboration service not to the to I'll answer to a component withhold second a a a can't we

by around a within genetic or problem to we agree And or of not other and retailer authenticity long other cross-pollination. that believe verification the is where are makeup and them. that to case for often standard first we talked verification is I'd I don't Where companies From would to that keep work general, allow that about veracity that may all that And the that's other a case fairly basis it again. there we in of providers conflict or a that's say are So collaboration, in Where their so there there same and on provide yes allow the potential ask verification serve level have the again From something standard the setting brand Food Food that there in that to companies USDA seal the logo. that Comes will is Comes we order core bear value question But almost systems. of is typical, with type the And that quite and lack do cases

Unidentified Analyst

long terms that the in know of within you're you size software as be know in a and you just Yeah, what market? could prize in thinking about how of term the verification opportunity the market

John Saunders

Turbo so produce know is Yeah, mentioned in the you producers you United pay million are food. applications. be would software of something I or to know the there's - States willing beef market maybe you people think a they and would know the similar I Tax XXX,XXX that like then be and that them there's that you to X name

on that number do You can the potential what is.

Association the the among products. this has producers been producers National Cattlemen's by in congregate are and producer groups. SureHarvest all another Beef and information services one And industry group consumers represented a Secondarily to and of and of or producer those it's and that others called with provide to our those specifically those group beef producers acquisition way in

a see to for base that dozen the group there's those States Milk, about sell groups everybody's Got across customer and the don't what's SureHarvest deliver. three together beef, are they tools they Tyson We it's sell industry beef United they beef, for where and them dinner, very as us the software just represented sell and significant So gets beef. of campaigns with with those of all is probably able that the

I've benchmark about against against provides to a themselves those market and their that talked and SureHarvest for industry to others to Board but group. and their primarily them help them So the tool producers Almond

you what key small. see as very that are two a groups customers we are some of those large know market and opportunity those Almond them some customer the really of So like Board

we're how hard and opportunity customer for it's business that it's producer, farmer, association a we partner term to the component So that one is. it's me in a this and whether much long is technology a key that a a around everything strategy. the at long SaaS and as again industry necessarily of say helping rancher an we're looking is But that them or term do

to we're to almost important generate customer financial as revenues our ability what is as able that that So from relationship. specifically maintain

Unidentified Analyst

the kind setting. verifications, guess just more some understanding the organic a just players you European have I not your it. is relevant question, does talked Super role of I companies of do play verification just or my they is I of And primarily lab wondering big of about kind certification lab in the a in based bit within helpful. a and lab confusion markets? world, other know one And you am the - Got you testing kind of industry. of sort of those that of large the do in of terms on the the the is within because of most more are kind

John Saunders

Good which question. that it. varies a companies they Almost right. those all component certification, companies major outsource lab own on degree and or Yeah, have to all you're it tech the

So of that it from with everything, lack know ranges from, you up analysis pesticides we they're the just products. doing either type companies examples of it's ranges probably could certification XX literally or come can chemical to up come testing food with that of and different the GM safety own which

a some kind hard new, and so it's very mature, the to very, it's pickup are some of range that. really wide of are industries So

we're could but analysis that that evolution several always organic if that all detail, the like competitive margins testing the the position done types haven't The - that know company, or of lab different with it's Our gone been commoditization lot that here's you're is address we've I within work. the in almost there's you almost an example, of labs. we whether if things on the that that an we means and testing the when testing that markets that testing nature verification into buy do. get and the do further the with has testing, and question always GM a working of we a Again we've and go for into I don't seen we're we reason that

is a are much because question you're to you If more into integrated lab it's there and no you try that profitable, going get and opportunity. business are more testing a to verification auditing much stuff,

the merits, lab verification. doing a on conducting an doing test or basic just or as audit So

say it's right found would continue term. the So look not to that at short situation and perhaps we we something you those that to in we I haven't see would opportunities but will,

Unidentified Analyst

that's Basically required the market? certification not for certification U.S. in the

John Saunders

there's It in specific what involve or saying, there's examples, the can other be. am a it's I requirements yes different has or many way things in there done necessarily there's lab. that a maybe that's certain are, but standard that, some a things that Again different don't

You or can get ways you can around that issue that ways. address other in other

Operator

Instructions] [Operator

John Saunders

to today. for get call time Well, the taking Great. on thanks everybody

forward you. Looking of quarter good first really to and fourth after the Thank the we'll talk year. a

Operator

This conference. concludes today's

your now lines. may disconnect participation. for You your you Thank

Where Food Comes From (WFCF) 13 Nov 182018 Q3 Earnings call transcript