Robert, to four you, today. good morning I'd on to cover everyone and call the Thank points. like
First, And as on been XXX about talk to that lot the give an XX. for the stevia we’re the we sorghum, I'd since a a days most sales and discussion in our and then a October with of closed integration alfalfa Matt's numbers. exactly see to details major since transaction like discuss update this Chromatin the it traits talk then on pursuing on right going picture the little almost although I year, finish short progress. and now it's the about
did is So the our a previous one what we acquisition go when lost a We -- that Chromatin unfortunately. in purchased was always October each a for two had situation that million bankruptcy, closed night. new Thursday. roughly we Chromatin. a healthy financial had million, which $XX we The $XX the years. at was of out previous in not They trouble organization is to of on the a Sunday company It's which XXth, difficult task ready to buy Chromatin
So in about million $XX million, $XX total.
good the had But assets. the that and at looking these under were we So been losses. also of we when that, does to had has acquisition, huge assets went pressure. company into company not normal they're there we some evaluate a that acquiring performance the The when realized things do were been
last and the always What normal we Chromatin's then, achievable a price under kind second of our our valuable had But to feel sort we the evaluation said, is a middle-market S&W. huge to I Like million have really integrated returns which that potential the situation sure management? are they could over to and we was issue fund of So industry. hidden our that, we there assets. they? couple we we we based into do losses had sort deduction company losses. huge How in these would our was a not to was of once How were where were $XX the would have bid – of perform $XX in years from which make target had almost returns seed million, of mid-teens on
importantly, of were So one company. biotech employees, they've its and When company. to they believe. the lay-offs just company about had people. maybe Chromatin XX Chromatin to integrate to S&W, had a color forward to expensive about XX of at at we – most cut of to We because on employees, had those acquired XX give they we you that the that, able effectively we XX company, move the looked an XX I in management obviously a were lot adding little we could We we peak had the as were seed XXX the couple place had because and into assets able with company people and existing a
one strategy the day company. as So was run the to company one from
XX We as South kind along more two is care of Vice Presidents operations. the of our was good So integration which reorganized seed issues. new we kind the real industry. we can the to to being also President company that night, numbers a of that we Executive organization. to these under run the are us develop our charge much the at the $XX going from was North that for around that months company at organized on lines I very new after past kind what With come the of had our We point to S&W had said, XXXX when the change, worked promoted And think fiscal we Americas international that days long in operations and then, we for be what of acquisition the of now to the acquisition year Limagrain million put world with saw of our that of actually have acquisition. worldwide the expenses in new performance deliver history him way the the Sunday S&W sorghum I've On in We five that the feel of merger. on $XX markets, we business confidence guy to who America, focused Vice XXX he America, that XXXX. XX, I him the assets estimates maybe on terms Callachor, estimates October all of we still in and closed We said, David gentleman sales he were time around XXth another made in confident to and put thought all best appointed require before efficiencies as and efficient the some results of Chromatin Executive Americas. which company. I of had in October now the Don America, all a Panter, Don we outside for million the the that Central announced from and made rough we the of is
one point efficient are and S&W on. that on We e-mail of over from that that for forward in went transferred very all addresses Monday as company to the we employees were instance Chromatin
the Chromatin to have just people at the that I'd call, the had the were the roughly the part or we acquisition at all like company plus at XX on XXX we equal biggest time the today. were people that we assets S&W remind XXX So that XX of roughly thought of the the about people people of what acquisition.
of customer. So -- President the I've to that S&W farmer about for the to been that needed CEO six and I've now quarters be closer customer, for talked all for the year, we the
were old it Chromatin we part of Syngenta farmer-dealer So acquisition that a very as made company sorghum started to we the partners. pleased network look at came Chromatin when a of with had been which that
been owned up spring at the days planting. we've so were hard it, the market And for evaluating how to farmer-dealer the the done And XXXX low-hanging coming reorganize obvious at it, in looking network make that to North we've it it strengthen instance efficient. we've now. working fruit things, that more XXX some American in And
alfalfa added offered product traditional the that's farmer been to sorghum our dealers. we so line And have to
be And so sorghum. dealers plus spring season, selling reps the for the our will sales to alfalfa now farmer selling
to of those same reps have sales field. the kind those process performance farmer have orders in Chromatin. our of dealers that in of from we and the sorghum what varieties traditionally the some alfalfa for as Our farmer-dealers are have And educating been we'll hopefully, farmer-dealers
distribution any ourselves the because future. much the In hope And we number split that very international and Chromatin by world, international market is sales the sorghum for the customers, the for Asia. forward the and Chromatin Americas the only for Chromatin except sell The addition, almost about pretty going have in -- rest the XXXX We the equally acquired we lot with we between a acquisition, opportunities name. is for distributors don't of call one now of in brands are excited partners. S&W, areas we
have Chromatin, sort Sales Director that Sales was an the We Asia previously of Asia Director.
of Europe, have looking sunflower. in most Eastern have are some breeding business where the We will the for our That's a of who Sales Director we for in as acres sunflower course where for also responsibility large program person a Europe worldwide are. reasonably
breeding it's do the home good sort customers. of market your So to in place a of
some which in heavily Sales we our area We the concentrate markets growing have to of Director Australia Asia. home second also the offers traditional Australia. MENA in advantages production advantages, is logistical selling but market and think for starting We S&W are our on to
at are now putting a in And down footprint looking so, Australia. currently we bigger
at forward. part are the about we and channels that company looking a moving very acquired the Chromatin. we are But parcel when couple of all part that's were acquisitions distribution of international acquisition We the of and excited
of been sorghum couple for sorghum Chromatin have going that We side, with be were pleased crops and that and experienced the both those a very same of the in for the plants and very growing now On and got S&W. forage Chromatin grower had ground. some release put crop network will production have we production employees production the the a course grain
we that, who finished fall ones of all of in the XXXX to decided cleaning seed. the plants what in harvest So just they the now XXXX the remember process of or of were spring the in which have that
one So the and of it made. was in we because lots they that inventory of a to It have we had hybrid that for the Chromatin like to and were past we'll reasons and market. right sorghum the And crop selection smaller with of had the is, out sudan pretty much in which coming we grown management sell material very looks money pleased think our all variety which hybrids than have plants sell varieties sorghum's it's the our a and sudan which in is plants to thought the that cleaned high little bit are now of crop growers. and is quality we inventory sorghum fact ex we than And being in. pay looks of on And didn't to were more lot we think they Chromatin now was in sorghum prices raise actually grain the able we harvesting. were our demand both and actually the
So all of positive. very very, was that
of Chromatin in be most the one They biology have be herbicide think R&D trait. sorghum breeders talk working mentioned molecular traits, could course will people bunch resistance I valuable third They One just I working with that traits. assets developed sort section But a biotech acquisition acquired now valuable the very we was the they about in are when the which and a of sorghum. but of of three on the we have their of effort. in
sorghum the our quickly, by farmer-dealer done being So sales are Chromatin we most research that reiterate was farmer-grower international our plants, R&D now network the is valuable, just -- network, that were the and to in Chromatin, sorghums the production on the channels, at and assets grain now Texas the -- which programs. think which
employees. we're So, from pleased the that with acquisition. have gone you tell pleased seamlessly. reception We're received Chromatin to the we've I with integration very has very the very, the reasonably
the to think the We morale us within through or part came were acquisition. whether the have Chromatin previously employees I were good company S&W of
of sides together. both clapping think are the aisle So, I
of employees and our the eight were we're we're We Chromatin both that six with that of the performance very, are received S&W people cylinders and morale the firing, reception the all at and the on with Chromatin we all and very very least, happy of pleased employees. the employees by
Chromatin quick of is giant very to we were -- So, had of that make afraid had so we times things because of these one the lot to remember organizational incurred. changes those losses a
the those year we million million assets when of $XX fiscal in lost sales say in that So, XXXX that to be EBITDA before. million Chromatin coming we're from $XX this to year Remember and in going $XX breakeven. partial
the redacted So, numbers EBITDA they we they breakeven that diligence, a it's mean from whether Chromatin event the S&W S&W, but were part we our months of event. think A good. heroic senior we might I think, still to lower control the accurate frankly, times really, the what not not was had That's three eight of banks of our employees, came not We people, did with got these what are going be documents. to some all through commitment of be cost the or looking to have these just mostly on are that the the were information people, heroic through good investment had so on results fact at what huge assets. due and company, lot employees, we're guessing the room, investment our I to a of us we XX us investment did to we don't -- we big and the assets When a effectiveness to a we hugely and some people that return are and were. assets to a hidden of for at the of and banks and as efficiency so a good we Chromatin that part do came everything. on that going our to losses talking estimate telling but data our that job sales funneling the sort out working the
the of done and not a my all And have really of I happy appreciative. CEO S&W sound all I this point good of and thanks things S&W optimistic of is coming you a now job and are because have if could who and to the the this It part employees very are. So, Chromatin your all employees I'm heck are because they been pleased that out very at it's way am.
to and So, let that second say company me a just that you stop in improvement. there believes a we're continuous
task. a pretty of well. might we've and that's But market we’re new are, two say, international. and off. back focus not we got got to a kind we've we of three it it's It's That's time having you And do. company We and profitable difficult going sit a the opportunity, it's think easy make years there's market task and biotechnology business. think from an take little the difficult think Americas on the so a my to seed we a company a growing are in to organization not experience and opportunities, XX middle And before. but thing Things going done biotech times
second think set are we our we attention. So on of issues need now that
three so just kind think, for understand of doing. company a it's you, And public I since I'll the public the to we're we're recount important of for because those things
efficiency thing we're of IT system. looking that So doing one IT our our is support and at
have next the or more more that the that we world, And important around absorb sales, whenever system pieces information, make we that is it's do now plan so requirements, in on in other very the with of information IT have decisions. a making company the evaluating not, years. want able five are accurate, to We better needs process consultant for information we some provide all be want can we employees. to of break to acquisitions, capabilities -- a against operations our various see as into more down what consolidated what our their the We we
quarters, but in it's are days give beginning, of we're that our to I working are clearly so attention I'll over since we're at we're on doing on updates as paying we project now on need we just Right a these issues them. And that now. organization the some how XXX sort attention and that. said, closed, And you the
providing making doing our the our our that is in not produce, yet basis alfalfa, seed cost. second we of we're thing the we in sure from. production really freight and From of the worldwide the The worldwide much production we lowest clean that in in efficient where best which are production, is service sorghum but But where Texas. with seed the so produced most sorghum, customers and ship
look on drop communication of things. those and production crops all of a to at the between working has project international, make that new and we our the on kind ball that and So the to don't organization schedules and shipments the Americas sure so like of we're
we third these are R&D Obviously, are all and of that doing doing smaller of thing is The the most just are coordinated. things important. a sure lots we're we making the there’s is
difficult than done task is U.S., times. large Australia, is a in this our the most with Australia. in And done sometimes biology sorghum where difficult breeding alfalfa, as breeding that maybe majority is and the small of effort effort In breeding the Lubbock, of more Chromatin also the a commitment the the but alfalfa done in acquisition, fairly not most amount as case have a we is our molecular have Texas, so in in we So, other is U.S. U.S., of in
we We for want molecular talking doing having So we're tackling which simple selections, sunflower are Eastern sort breeding mostly Australia, Europe. Sunflower's just blocking of helping a more what put doing. are the to potential that and sure of sorghum sunflower Valley. those us, maybe like environment, coordinated that side. a is breeding. And the trials things we the are things to lot a there. believe alfalfa. changes in done the is going those make crop, the in side, is like we've map aligned but the other That from program want humid marker Joaquin Stevia each San made and again, there's each better stevia complicated that our in crop were overlaps But a do to of programs than in not a just twice. being other and our for same and more same lot terms growing out some is in of most sorghum the now U.S. It's breeding has on to sure we've our is majority the almost, make
trials San we're Joaquin. still in the doing Although,
other So most of specifically, of Carolina some in on our the new had in stevia trials states. trials also Coast North the but some we've in is East Southern
we issues organization do on to provide on continue will progress we the geographic with groups. see the call our continue those. on of groups, and We're we new as international we're now international. issues coordination Americas that two the and focus working once to Americas So kind that the -- on And and between you updates on the the on to
have that's going. So It we the it's like, to and and all planning track again, days but a effort. of what do all Make our to made XXX pleased XXX our customers like I days. of research, our very make about this doesn't time, significant of our wanted seed And good the sure thanks seems It bill in doing has clean things and that keep been we've progress I'm for only sales, say And that again, their crops, my our a seem how with been we huge it our integration. doing good are going it long all do. forward. employees for making companies business
lost a picture, going that $XX million on about markets little of number to again, have trait bit two, back think are about now point million to numbers, said, bit some just that to sales was details sort My but pretty range. improvement But we're of finally MENA I so, that, point $XX in at Matt a that And region. third development. specific finally, come that. least, in the we're to talk the sales Matt's talk as little the we comfortable alfalfa optimistic going the going get seeing, to sorghum we're Chromatin some some will the we're sales in and
crops broader I all risk the focus, traits, -- think against we traits remember rank to to we're crop other. different of each that you we now working both want on different have of want and we different at look opportunity because in we of terms in a lots the but
future, from now work the digestibility working on years. hearing that, they're have the in but we got be materials in last more continue to We've the we in Calyxt You'll and field. alfalfa, about the on for couple that trait been of
work on selection sorghum we're herbicide doing are I on grain that, the working And mentioned in Chromatin those. We side, on resistance.
evaluating market is to about sure in resistance herbicide we're field our that look products make that terms different the just again the will the in a stevia the strength more the I The in of herbicides. wanted to of at resistance Texas thing, detail. materials have fourth acceptable in bit be to We these program that we talk little and have to
We we're some leaf in put business made not on in because we seeds stevia where about production leaf last per-acre trials our basis year. stevia. So some selling out decisions a we are remember where yields,
are use leaf – their products. the the processor and to We food in it will companies processers the selling that
So we fixed-line a are in the trial, process of putting it. call I'll in
sweet. our of lines sugar. sweet It's taste are. for sweeter times XXX plenty how from customers’ So right It's is, profiles products has stevia to the best it's it that we've whatever than the – it's criteria XXX the the taste, stevia picked because not
trial So and line bulking-up in doing fields the the spring. we in a are enough material, that growing planting six
you stevia, to clones. in plant remember have you As
seeds. can't plant You
and from cuttings. four multiply of which our the the contract And help of putting business those process of is that – so going in and us a doing lines their take me, each beverage those the field different six the off excuse are cuttings make evaluate with several you of them in and with is the we process in products. you our and we is different take stevia mother of the a get them those that trial let that. in company who cooperator plants leaf We to partner, the in and we you to and are all then in So plant cloning
step big a that's So forward.
in their that the We real evaluate a have going on taste, the field, and basis of making that the could – the basis user not product consumers. them of on is materials yield real the and are a sold of basis on to be that but to to user going
step the we parts, company. So conclude that's but that's forward forward. there say, just move hear to purpose. a about lot on a for that, and more as big moving And like of I'd you'll are
that said agriculture the market need times many We worldwide well. everything now, that in that, depend have we're especially shots difficult in in and more working we goal you on being can't right on
Sometimes the are market you how and tells things not you. go, up to going to it's
to goal, XXXX So more couple which are we of next doing. our you right? we need growth, be shots that budget we working But will -- on we'll have as cycle. long-range We in also helter-skelter, a of need control on so to grow cannot part plan quarters, the
geographic July our conclusions I X So that the starts I and giving before think of we the we where long-range markets be crops, is will us to get the in telling plant will go, that we some study be market after that that complete would year -- in us different XXXX the once of fiscal when the in world different what do to done. it's telling
So, controlled sales-oriented but sure is and sure are organizations. our an we that as we efficient making as be then team pushing do we're where growth growth, can making company
customers are to get focused that support giving need the done. then job groups and the Our they on them the
margins. can the maximize customers in our of to sure will of project make being looking production worldwide products in and and So, evaluation to our a IT that at delivery as as production company-wide, project then again, we the that our efficient coordination a R&D, we're
I So, to say wanted that's today. what
to will questions. right you think Matt take We it turn I'll be now, I, But happy, Matt. to I over and some
