WLDN - Earnings call transcript Q4 2018

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Operator

[Abrupt Start] December 28, 2018. With us today from management are Thomas Brisbin, Chairman and Chief Executive Officer; Stacy McLaughlin, Chief Financial Officer; and Mike Bieber, President of Willdan Group. Management will review prepared remarks and will then open up the call to your questions. Statements made in accordance with today's conference call, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve certain risks and uncertainties and is important to note that the company's future results could differ materially from those in any such forward-looking statements. not actual listed differ in ended from SEC including, cause risk and the December could Form XX-Q. reports, are the subsequent factors time but on XX, that XXXX, results the quarterly materially to other company's XX-K and Factors for to, reports year Form limited to time of reliance statements made forward-looking company investors this call. The conference the cautions not on to the place course undue during or does Willdan forward-looking revise Group update obligation undertake any and made not disclaims today. statements to any

In financial addition business enhance to GAAP provides to financial results, our measures investors' also Willdan analyze trends non-GAAP believe and performance. that we ability

our derived of Our Adjusted of are of believe non-GAAP GAAP expense will certain results. allows Officer, measure operating EBITDA for reconciliations call operating and now of adjusted release turn earnings EPS include the at all revenue performed the revenue, improved adjusted for With included measures Chief net Stacy? the issued the our we by and from items that, impact Stacy adjusted EPS are work employees. Financial to revenue performance, today. net EBITDA. I measures supplemental an non-GAAP removes We the from over the which these measures of McLaughlin. end

Stacy McLaughlin

margin. Total Energy recent an as Energy related Thanks, the on as then statement, to NAM, our Tony. to increase today's revenue quarter as reduced in This at impact data costs by welcome an increased no analytics the I'd us total the amount we've of was like finally, little pass-through the has segment for by of of revenue costs, our primarily fourth an revenue income that XXXX recognized in subcontractor range. from million quarter, well balance in guidance. XXXX. defined to to were income running quarter. direct those $XX.X Analytics. of million statement. These minus slightly call. partially our Energy $XX.X our increase and $XX.X our million, revenue, Integral the our driven was our ago year with to and joining of contract have guidance fourth from revenue my acquisitions, above other contract our for and, subcontractor from overview XX.X% I'll the The growth services Net contributions In quarter the increases contract start offset sheet, net decreased in through Lime increase $XX.X of million XX.X% was from segment,

increased was Net quarter growth The Consulting same XX.X%. Within acquisitions. offsets $XX.X of increase increased costs segment, XX.X% the growth by revenue quarter. year. and in last Lime Energy Direct million of the from resulting related for increase million subcontractor revenue contract in period an pass-through to the projects. was XXXX, the certain revenue we and fourth segment the saw from segment, by the Within NAM This expenses revenue in lower the contract in primarily Energy fourth Engineering of net $XX.X net XX.X%. Energy revenue were organic X%

contract the and $XX.X of and million administrative acquisitions and of Energy year. Lime were fourth for revenue the related compared salaries the higher to equivalent prior our wages, in fourth to driven $XX was and largely million personnel by XXXX, employee The expenses XX.X% primarily through benefits, for added year total revenue taxes quarter the prior period. the increase General NAM. same costs direct payroll of the of quarter Our the of to were period roughly contract

$X million. intangible in also expense increased Additionally, by increase million. $X.X stock-based compensation We amortization had an of

utilized expense of $X XXXX. with $XXX,XXX last of the approximately due to compared $X.X fourth million the acquisition. fourth year. the quarter XXXX $XXX,XXX the expenses increase million The in quarter Energy. the to quarter same transaction Energy associated debt of fourth for was compared of the costs Lime Operating in We finance was Our quarter period to included the also income in in $XX,XXX incurred interest to in XXXX acquisition fourth Lime

$X.XX our the compensation, per excluding intangible year. The Net stock-based costs, an On During fourth increased recorded income per million options the $X.XX recognized attributable adjusted diluted share in the last share or the the income share increased was $X.X million stock in share XX.X% fourth Adjusted in $X.X XXXX. $X.X with fourth tax fourth $X.XX from increase and XXXX, transaction per amortization the for for year. million net dispositions we've building or benefit same of quarter diluted quarter, million per and EBITDA an million benefit of period commercial fourth of deduction tax income energy $X.XX diluted additional was an disqualifying an XXXX. and $XX,XXX. of adjusted or of for deductions last quarter period the was basis, $X.X same quarter $X.X $X.X from quarter of to to income million for or compared XXXX diluted efficient XX.X%

weeks Lime Lime going is integration this met later their acquisition, to all seven year. Lime financial following well that and be the of complete For financial process is the targets. The expected

quarter. December from million and Turning in We previous balance end to a down of was bit the fiscal XXXX, the which cash at sheet. XX, cash $XX.X had equivalents

under of delayed $XX million XXXX, term acquisition. to Lime the we the was December Energy outstanding As had loan, utilized XX, finance draw which

of full-year diluted per per $X.XX share, EPS XXXX XXXX, above was guidance share. $X.XX the our of adjusted $X.XX to For

our to financial would fiscal I Turning like to our provide outlook. targets for XXXX.

approximately turn million, to the of $X.XX, to revenue approximately tax like stock-based year, EPS million completed million. $X.X to of rate XX.X transaction These call has not million, that diluted a million, effect range approximately the over share amortization include of diluted as of $XX.X I'd and targets not approximately we $X.X full and compensation XX%, financial an and Tom. For today. do $XXX the of any of count between depreciation been shares, to now net effective $XXX of adjusted $X.XX range million between expect

Thomas Brisbin

our fourth was Thanks Stacy, earnings were XX%. last and ramp the revenue, the was of programs Engineering year to good compared of double up everyone. Energy XXXX expectations. completed Net for EBITDA contribution a operating up new segments strong the year. while up Energy digits and exceeded quarter good the revenue was of revenue an and in fiscal both afternoon, reflects quarter XX%, another net Consulting standpoint, up quarter. acquisition. with basis, The growth on XX%. net that believe gone We together the On up very and California very most and a provides was skill New Lime quarter effectively additional and our teams working acquisitions. opportunities. in integration experience York. recompete to beneficial smoothly We recent efforts the be The revenue our was event York Organic these the The will in are sets has Lime on for and California significant the of full efforts New the both in Energy year. and growth that the X% completion From

the growth. municipal country. Angeles Lime incumbent the In Lime revenue approximately good of has outstanding The have and XX increase, addition, Los organic in contract will a municipal we both opportunities utilities for record Top Power, team and the competitive is is us with of XX and Water footprint, advantages capture Department sign the across large potential track Willdan are years Energy LADWP, the help When municipal currently IOUs. in to X,XXX nation. our There so that an serves geographic IOUs ahead. expected that's with more combined the

most and program Our highlight on want Direct This I marketing public is recent a few program. of development efforts to schools. wins. produce private continue our new won a recently SoCalGas Program to efficiency and business gas a good results. We Install

concerns We In more New growing for greater to push because XXXX York, days the due to energy their from with of natural by pipeline gas. is gas efficiency. Manhattan oil gas Electrification are programs will to year. gas overall efficiency the the seeing put electrical capacity of switching because emerging, natural coldest fuel demand on electrification. is anticipating

efficiency effectively is $X.X on success leverage cooperative. similar multifamily New for was that major plant and New capabilities performance company This million added on the implement past strong the a City. our we the project a upgrades our Coast we utility. contracting West won recent Genesys with were Con to program California multifamily Another capitalizes to multifamily win our We Ed energy to able for first for program in the program project over a few York York This implement central a years.

their implement results for a a we municipal the adding We heating in have won to sites assessment to upgrade more continue multi-million Texas. in of Culver City lines, recently municipal we've private of finally, a two these system healthcare to microgrid - at selected project And, feasibility dollar sites. were by conduct system at development Along major a two good clients. sector

general While a there the service this small consensus will that future. the in significant be this growth at relatively microgrid-related a market addressable point, area for remains of is

We devote resources also great in of California. to continue the to new deal a opportunities

is efficiency of next recall all should PG&E to the that We efficiency the this abstracts. has on and PG&E. million the utility XX% of as We currently end the for believe for mention that programs we year very decided strong that their of We issued finally outstanding us. Bankruptcy strength $XX programs. this I year. and, XX% few proceed process combined energy current to with these a will their This due programs. step addressing that continue competitive programs. this awards about is summer advantage. will will The Lime position vendors invoices The of are new us Willdan of be words be puts their compete California have You programs also proposals request hopefully, Court will a should in all paid. energy about outsource begun. Approximately has and the planned by a believe California's per have

in Weidt Willdan on The you a As Weidt development LOI buildings. and software The consulting of an for of are week, Group. the reasons. and new efficiency an last signed Group specializes sit The Group behalf believe working optimize firm based of existing energy in excellent an We They acquire saw Weidt Minneapolis. to to number is energy utilities we with

have relationships we footprint. helps they our utilities Minnesota in in First, and geographic with Indiana have where like states long-standing fill currently presence. a Midwestern This don't

cross-selling services of The Weidt development new of work consulting acquisition software we earnings year. on to closing that services Analytics. into Group later anticipate we important acquisition be construction offering brings of a And, new Integral had expect expanse and we've third, deal We business acquisitions. to with their and last and year this this month Historically, an this the projects. accretive our great entered our service of success the Second, it

Turning strong we year growth. to XXXX, profitable of expect deliver another to

coming growth from pipeline diversity we areas Lime, the of strong business of is types. new opportunities. Group, due see as very to and several greater impact Weidt Our California a The see as project meaningful positive well to the We continue

we using for serve are come emissions. of private less sector a looking In large and expect utility New less of to new needs both build and term, utilities bit. to Jersey Longer continues addition, New efficiency the a funding our gas York market Jersey, municipalities, for facilities utilities, greenhouse positioned date to designed a generate state for up that programs, see and well With us we for enterprises solutions potential public think our very we as increases sector programs. energy to in growth this to win programs for the various be also energy work very continue in company New the we

and generation. I turn good create to for to should We energy call are as increased to ahead. shareholders in would electrification to position This new greater have order value near back which growing capitalize while utilities like With Q&A. opportunities company and for broadening to bodes efficiency our believe demand service meet on This generate to energy limiting distributed the to operator need in profitable enable expertise investment in is now this for that, us our the for We trends. resources. in both for geographic offerings, on well for and a drive the our growth capitalize years demand electricity, long-term programs the the need our and will will footprint demand, the

Operator

[Operator from take Instructions] our with first Moshe We'll question Securities. Katri Wedbush

Moshe Katri

a here. of bit go talk First, - about calendar couple to I year XXXX A maybe over - on guidance. things about want

the you growth revenue net I way historical guidance And contribution conservative you about both year? EBITDA see growth a bit the revenue acquisition? include talk And The organic assumptions about that. it for for then, pretty and can below the here, the Willdan rates, First, rates Maybe from does revenue growth Lime. margin talk seems it, then net Weidt the the the non-GAAP also maybe

Michael Bieber

that you're think, the I'll digits order midpoint asked Mike. Organic the is I Number call, if out our in of I'll based better that that, do with, This we take the is year them. And what so on right We guidance. the than the guidance we'll typically little it, mid-single a be happens. growth throughout right. one, you start now. those, in year appropriately conservative raise if guidance

that's It new are California contributing also guidance is. So in the procurements of no that XXXX. where midpoint new revenue assumes

piece, our guidance next not contribution Weidt revenue next that the the closes Group, The update On guidance true and assuming of include quarter, from next revenue that's in does any month. EPS. both We'll

guidance. not in So, that's included

Moshe Katri

margin? And

Michael Bieber

Margin. margin assumption. EBITDA

around you're margins remember, like continue believe I believe to Just XXXX improve right will now, you time, as I reasonable modeling we think the as with that we EBITDA in is something assumption. into I talked XX% low-XXs, last

Moshe Katri

a of then also guidance. on And follow-ups couple

the So, EPS, is that revenues, be booked? us pretty we assumptions you for is in remember what number guidance terms of already part the coming should And should QX, for year up, the revenue net look margins? If high. for remind correctly, us also some high, give of then that's I net maybe can visibility pretty which and so

Thomas Brisbin

relatively expectations up just February ramping For have very LADWP They programs, and up March. Power. QX, of modest slow quickly largest and two we were we ramping because and are Duke January in in are our

pretty QX, like. and QX we've got a very modest looks So for we'll strong have it expectations

was So that's your Moshe? question, for expectations QX. What EPS other and

Moshe Katri

in about already feel bit if you a your sort how that much - revenues, get of visibility will a looking if your at for we of guidance be give talk obviously good about is some QX, year booked. on revenue of And helpful can the talk for that? can also net then you net terms for some be if - us Well, will range it

Thomas Brisbin

Yes.

historically not have guidance. We quarterly given

so, year, you and we've funded of done true, QX and normally I what year. don't given months about on and And you out year this give XX in I of But true revenue. want we that that's authorized net for to range and tell again step can any that's have work a this

worth strong we're the a work. year So very walking contracted strong into and a pipeline already of with book very

Moshe Katri

terms the Is don't that's bit you terms of it And - kind maybe you're a looking up of substantially? pipeline So just follow-up, Is and there in description provide a anything obviously give just the you in the unusual of pipeline board. to a number talk Are about talking a work, bookings. of at new of some coming of you a of about strong pipeline a terms today nature nature your about of we in year can pipeline in us the versus work terms can then the growth? the on ago.

Thomas Brisbin

go. million called abstracts. Moshe. about XX, year. $XXX the per So, so considering California confident submittals they're happened who year. still have proposal few now and next months that for the what writing more then proposals will of They back we're end will they be $XXX probably us We We in abstracts, probably a addressed with these California about to believe, million to invite is or addressable year write moving, a the finally it's we are XX four the per market for the I is by submitted, very and We've we know a

staying So schedule. far on

Moshe Katri

Okay. All right.

Thomas Brisbin

Gas have & the and heard Electric good. Diego is We San all

good where double the efficiency, on we to New incumbent see a are about. the mover, New York York about So, of lot amount energy - which we pipeline is said feel under of York's we big an a pressure now. and California they the to recompete, we good Then the right Mike go do as looks some New

goals So we expect those to up. go

taken year, New between years will started numbers So that for care by be big. growth the mean, California, first and pipeline New the Jersey year, really, organic is of get X%, of of York if really X% end to next of come. I these

Moshe Katri

Understood.

is million, Jersey if $XXX New quantify California how in can so about York and much total? And New you

Michael Bieber

just because - Jersey the a we're - numbers, probably whole probably million would talking York around now year. are New but world, these $XXX guess be New to

million increase $XX would York a New by year.

Operator

Canaccord. comes Chip with And Moore from our next question

Chip Moore

Maybe Group, and in about they The about capabilities, that? you cross-selling? start you you we maybe some new terms the can with How Weidt that. are terms software of things talked that maybe targets, of expand on in services bring then can any of accretion And include thinking does

Thomas Brisbin

for Board. in Mike the presented they do they operations then some some. address really utilities new here they guys. We're way, construction. the this address new Midwest I'll mean, work They in and to Well, about and to can were these the I XX

help which is a they program build, people do everything nation. whole they do before So we the across new it for right,

excited is really nation. about to some the Group XX work service other Weidt of for So the the we utilities across

called California, probably for entire per this $X to our million Group. there in not on been consider. not Here year would $X an to example, Weidt New The procurement is million State-Wide. have even on We submitted list have would Construction program without This

is an California. of of that in opportunity six ahead So us example months an about that's

software one about they call thing software. is it we're and energy pretty program they The audit, audits excited is virtual other ways a to it's they been - The using. do an do have better that it's that they've a

nation, into I think this. that we utility anything, more also programs make So to Mike? doing against people incorporate competitive Did across us our we can other miss

Michael Bieber

put synergy about our synergy or accretive never forecasts. asked and we accretion You into our

case that can upside those are in mentioned Tom the cross-sell So programs. things we

Chip Moore

is history? sort CAGR there, of, a of sense organic recent there And over

Michael Bieber

last the five years. of single They've digits each been upper for

is years growth. over I organic last think five their X% exact the about number

Chip Moore

little quarter. in higher for a in you that for but cycle, Integral sales that and the maybe can of bit outlook the talk a longer know drove the it's I lumpier And sales what about out I you and pipeline think called business? piece

Thomas Brisbin

a They The even looked last their in quarter. coming revenue, XX% far pipeline for increased into XXXX. the their fourth than Analytics which opportunities, contracts I Integral had They XXXX. major year at Yes. larger good are have some contract year-over-year. largest looks we very pipeline think, more good than

they're it good very looks and So busy.

Chip Moore

from a hear. talking PG&E we're should to know I one hear Good PG&E? Thanks, out, to that? but think you Can little one to mean talk push Is last potential good larger that XXXX that Maybe forward. anyways, any impact for about a business moving RFPs about is me. I That's potential we guys. for the how

Thomas Brisbin

So for we've four so years to now sarcastic, so two would surprised fall That's there's few to I PG&E wouldn't if this to behind. been process and I in waiting all begin be front of behind. at a seven yes, they get probably bankruptcy months expect so months us,

Operator

[Operator Instructions] Partners. Craig Next, ROTH we'll go with Capital to Irwin

Craig Irwin

question. last Tom, one, a First Chip's clarification actually is on

So you the seem the of to getting as four previously their out there. as California quite be have months PG&E a four selections? four behind where months maybe that that ahead two to be schedule behind far with shift up had the peers they're share we months making they is us to early if RFPs end means far supposed in and start that or then to that to two to two we their up eaten actual Can

Thomas Brisbin

second, Well, PG&E's California Edison was was came Gas state, Southern up actually first, Electric in what third. and San happened & came up the Diego

in January went San Gas November. where around in & actually they went they - XXth, in latest, they Diego Electric due the went So were

regards San their - where then, So out to to awards to, see you fourth months, soon. they first, they Craig? on & maybe to out schedule and booting staying Diego schedule, going That's of just read, I delay Does if you, Gas to SCE two hope be for four their for proposals came the referring maybe in schedule. the with same why I'm PG&E printed printed bankruptcy. sits We Electric latest. because that help months. to two - And was wherever we're

Craig Irwin

because... Maybe,

Thomas Brisbin

do What want specifically? you to know

Craig Irwin

of they obviously it's Energy being all I've clients that working Efficiency working PG&E in groups, did California groups, - No, discuss participating the been the in my early. very know

looking at just process. probably difference as far as they where in definitional we're the a think I were

utilities a you the much think material, be is on the timeline. expecting the I got of a out to this But matter, final because they doesn't was this they lot late, but pretty not got always are utilities It documentation everybody to documents some are. of story. really is because early, maybe different all

Group? Weidt to Lime move question with talk you in actually Group on. can more see a potential Weidt fantastic differentiated other capacity acquisitions targets many relevant XXXX? additional with expectations more this flow is, pertinent these do question, little the services - The we Can this how for over lists, the to of be So that to generation you interesting How next And bit more cash The probably you able companies like the Willdan couple about years? do us are acquisition. for love maybe like customer geographies,

Thomas Brisbin

Mike discussing are that and Stacy answer.

I on PG&E up happened. they did say what think just documentation, think telling you you're first. come right I'm actually I

Craig Irwin

Got it.

Thomas Brisbin

procurement. the to Back

- I your you summarized So that nicely. I believe think

So, Mike?

Michael Bieber

are of like answer terms ratio, the The I'll look X.X it. acquisitions out we profitable Lime banks that's leverage your Weidt way than ratio Group at forma to question because a who pro the came successful and and of We with new transaction those. in less Craig, into get of the leverage

that a year. and ratio stay of standpoint, then come the from X.X around the we're to leverage number down by end So going

banks So facility. supportive very straight expanded as that this? your question, The to so credit absolutely. to like acquisitions are go and do Yes, we more of can our

Craig Irwin

there the and question overall had looking we engineering have government that business municipal you efficiency but model side, of on a business, the some of particularly in talk focused side, be or growth that maybe been you drive that you stay little at local Can should conditions market particularly in be Then seems energy bit sort us focused the for it expect that in a California growth this the year. of seem make all are to growth are going to we the XXXX? in not turbulence, really if this can you forward? this had people puts just just December, that touch driver about to seeing business in concerned money and and expect on in a consulting Do takes modest the about, on

Thomas Brisbin

I I'll you with that their rate. some and give really signed above growth increase we think charging engineering examples - for potential to the stations. design has Santa so of Monica, the installation XX cities just

actually So City's a well, their from from us, the they're lot cross-selling more Group That and Group, as from services. from we're us Energy in than but Energy not stations. include the Culver And street was true seeing microgrid charging for other this which things. lights

So stay do in to same, as same for adding to expect extra into stay a increase but they little the getting as an would we building closer and bit, cities. them or market service long we're the the what housing

could could can't but are find it them opportunity but expect I don't an we we quantify - they them where them that now, So, improve yet, X%, all quite organic to don't to down, growth? we immensely, from expect improve go X%

Michael Bieber

single low digits. Yes,

Thomas Brisbin

We could there, sell add X%, X% to probably a them. to service start if new could we on

Craig Irwin

add Does side? having the ability traditional capture LADWP to as a your engineering customer now on to

Thomas Brisbin

of them. LADWP. most is XX for the I for Willdan cities County, Engineering In in XX works work LA cities engineering, of County LA think in and We there

in utilities So work you could energy about LADWP, under what SCPPA, point for. I XX there's think about on doing would - we - other out, efficiency municipal a and there's should we're between there's also

engineering our But around well our to better that cover trying work how make to we're hands County energy civil works is rather see How have do challenge. we LA that side we the get and both on So the together. efficiency it side. all

Craig Irwin

XXXX think million us point And project there individual could is of several can select maybe in be list I XXXX you that $XX a you for those to or north fairly can awards million? list? of are it - mean, you $XX where that possibly RFPs or

Thomas Brisbin

you are of listening? Do competitors any think our

Craig Irwin

Yes.

they Of right? know course, the list It's they just... are. But too, all

Thomas Brisbin

Gas both has large. a & Electric and name few. Diego a just I'll program, So commercial San small

add sector money. got California Southern a of industrial sector, has program. are a commercial, lot they They program. have has all Edison commercial public an Those public industrial, a to PG&E multifamily. program, up

York, go New You to non-pipes, non-wires.

You go direct to else... install. Jersey, Where New

Craig Irwin

question, activity be serve implementing energy down. So in you're projects happening obviously falling greater that novel in seems then stations, last the want on market, most manner? The do where you Do time others mentioned you? do least Are there a competitors is more for and technology focused much efficiency. charging may. leaders in Where exciting like gap adopted, a in are a you've leader now you feel you pretty I being It if at see to technology the widening interesting geographic smaller the the seeing a market projects? is this between maybe content so a to microgrids

Thomas Brisbin

contracts, Utilities right managing so there that utility. Ed, smaller number big were can't that Jersey, they one exist. I We're at to very of New we bigger New portfolio, they're would where the look XX% now is York, other XXX Historically, the in others maybe service downsize want the XX manages think, have to contractors contractor XXX seeing contracts XX%. let's look team New we with employees, a at If consolidation be contracts, at the Con Con State of California so I trend York. Ed manage look they and and about we California. could say for of the just to to could the provide

where work, I they New also programs. competitors, their direction. won't our going or Jersey have they that can names of mention some I for is administration in say large also

software next migrate the together preparing their get benefit their technology, need energy I technology to years, So consolidation efficient, are all factor. become and big over a to question net is and a move putting zero will engineering energy the we capabilities for think where your customers they that as XX on we we are With regards to believe utilities XX. more to maybe us need customers capabilities

to you out you where no what Then As years be greenhouse to no When New is off with years that's about only our and out no have they be they XX lowered greenhouse XXXX, gas and going customers, by XXXX. came meetings came do mean? California said believes five Craig, go, we away, combustion, know, Nobody York by set it. have combustion. of gas. and we There

lot If transportation of and you energy get everything nukes you god, in that's mean factor rid factor you use I natural my in That's... gas and efficiency in and coal, electrifying work. a oh we factor for of

Craig Irwin

exciting As an time be efficiency. the I energy said, to in

continued the look to congratulations strong So, forward solid execution. Thanks. on quarter. We

Operator

we now And Instructions] Securities. have [Operator Wedbush follow-up a Katri with from Moshe

Moshe Katri

take try with get cost integration you opportunities two a talk have revenues the do the will on or And some for you the when one. centerfold think I'll guidance. Do actual do maybe then mentioned do help follow-ups, sort sequentially, net QX Lime just about looking two, and I we see ongoing on our integration system? when down be efforts the getting of another or see Actually us. number And you synergy a number bit directionally that's can Lime, side to Maybe at you where we expect here? then financial Thanks.

Michael Bieber

of Yes. I Yeah. you in can order what asked. take it

QX, a I revenue. think see that decline probably in sequentially we'll to from net QX

logical. that's think I

they we synergy, cost could prior cheaply Lime can under and ownership. more insurance of than terms their buy In benefits

the We the that with some capture mentioned seeing bigger you're are in our we upside California cross-sell right in in is And on of part ability Those XXXX So numbers, that horizon. think is small Tom relatively guidance. of to XXXX. can that number Lime.

we've this begun we of or data them In the actually process, having happen accounting on system, meetings We've probably terms this now. ongoing in QX transferred onto some but are Lime that and in point. the with that'll of our QX process year already at terms in completing system ERP of our

Operator

call speakers for questions, our there as are And over comments. turn to I'll the no back further closing

Thomas Brisbin

I'd like participating to for day. our interest Thanks and you thank all call today your Willdan, on have a in great of lot. a and for continued

Operator

concludes We you that And call. today's for thank joining. conference

Willdan (WLDN) 7 Mar 192018 Q4 Earnings call transcript