MEI - Earnings call transcript Q2 2018 | Methode Electronics, Inc.

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Operator

Welcome to Methode Electronics Fiscal Year 2018 Second Quarter Earnings Conference 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. This conference call does contain forward-looking statements, which reflects management's expectations regarding future events and operating performance and speak only as of the date hereof. subject laws. Safe are under protection statements securities the forward-looking to Harbor a provided These no to changes undertakes statements on Methode duty quarterly to conform statements a actual the to results or or basis in expectations update Methode's otherwise. any forward-looking

benefit other our in timing, material raw currency and factors this our United the prior in two ability a of involve our trade fluctuations the in sell availability the withstand of the pace filings including program programs of profit may a the expectations business ability rapid The dependence to and technological of are the in new Kingdom ability Surfaces; dependence our any as supply Commission new chain; the price call price dependence of and customers; annual and results the and of recognition to interruptions; the to effect European market number margins; of and is now of reports. in income our minerals; Such Securities to ability to number Insight continued my dependence to on and technology; tax computer divestitures; from keep policies. quality operations, from these and/or fluctuations, with Dabir expenses regarding of economic of that effect related detailed without cause breach changes; to from successfully and conference actual risks following; include and differ uncertainties. with statements acquired effectively; Forward-looking gross a international and of ability risks factors materially due such agreements; ability fluctuations; information Exchange the on from the cost to of Executive of systems; our of to conducting implement investment quarterly to Don Union; modifications impairment including exit tax outside Duda, materials; cash to U.S. of Chief price successfully of limitation revenue; launches; amount on large challenges location to ability goodwill to host, large U.S.; NAFTA global ability on conflict reductions, Europe costs small communications a appliance, customers, Electronics. the defects; introduce automotive, Pacific protect success Methode including to automotive compete the withstand Procoplast significant pressure, and industries; applications to and customary design rate the charges; changes pleasure your or recognition intellectual to manufacturing President and ability our Officer acquisitions regulations property; technology avoid and It Methode's

Don Duda

our the first us for fiscal XXXX the our increased in Procoplast. The Tim, XXXX sales million $X.X Financial quarter I for everyone. your second half. afterwards and I conference Thank comments of we financial from today John $X Year-over-year Officer; you take have sales morning, you, joining Tsoumas, and Pacific will include X.X% Insight million today Ron results Thank XXXX Both Controller and and John call. Chief Hrudicka, our Treasurer. and joined quarter am good by questions. fiscal periods in second from fiscal and X.X% and

from in X.X% X.X% sales first quarter increased the Excluding acquisition, and the second the in sales half.

expenses to and to and to $X.XX decreased quarter due second related $X.XX expenses transactions. acquisition $X.XX the $X.XX related of we both $X.X In from the X.X several to of in and quarter However, earnings first million periods, in and incurred from per asset the half, share Procoplast factors. accounting Pacific six the for $X.X purchase as for increased intangible the million months, well million Insight adjustments as amortization

X.X million. of last of quarter international fiscal included Additionally, second the year grant an

improved half as in We resources, experienced factory pricing professional currency as and for labor materials. increased services well certain And and periods higher clinical our and driven legal in and Compared commodity adjustments year's increased quarter, Dabir. negatively the also impact points expenses, sales XX.X% to on We $X and commodity issues accruals both power customer investment million unfavorable sales gross last of XX expense. by the unfavorable also factors accounting mainly in reversal and last were periods, both offsetting from and segment. and to XX.X%, first higher Dabir. of margins to pricing In purchase of marketing, at income acquisitions, margins unfavorable Partially in dollars valued at consolidated sales. raw constant by million lower first benefited tax these impacted the were pricing, automotive lower to product gross related adjustments margins second commodity remain one-time of basis half. Gross finally, a commercial both year investment automotive in segments,

unfavorable quarter by price currency second impact. also affected the The was reductions and negatively

the Dabir, and quarter was the selling and fiscal in of expenses. The related advertising, in pricing increased experience travel, did lower increased We from in of expenses well in year. acquisitions, by was connectivity, commercial and half. million half automotive and those in Year-over-year expenses in second to first $XX.X commodity first higher M&A XXXX previous but XXXX administrative expenses income reversal were Year-over-your absence administrative by the quarter. to and fiscal the impacted operating selling offset as also fiscal accruals legal first segment the $XX.X fees quarter, compared reduced adjustments the as million marketing the the XXXX and investment expense, second

million $XX.X half, compared million year. operating first to For year, the was $XX.X last this fiscal income

in this fiscal operating compared the second XX.X% quarter. XX.X% margin was to year, XXXX quarter Second

XX.X% was last operating in fiscal XXXX, margin year. to first compared the XX.X% For half

As previously mentioned, adjustments X.X the and company in expenses million of acquisition-related accounting half. incurred the first purchase

steering and sales and lead increased increased well of partially segment to improved the sensor fees switch to volumes. Insight, were in due higher sales and quarter Procoplast second slightly the our by in half, as compared first XX the review user a to volumes, quarter in reductions, as from XX.X% declined an due and and automotive sensor Pacific acquisition-related results, accounting product XX on second year sales gross hidden angle well and first product design currency and in automotive price offset and funded as lower interface points Moving as basis Year-over-year segment These assembly half, the tooling unfavorable points price customer last margins XX.X% adjustments, by basis reductions. frame purchase transmission impact. to

of first issues, of the by related to absence commodity one-time adjustments, also The which commercial is affected and half last year. reversals accruals customer the pricing occurred

gross we XXXX, in range. fiscal targeting the XX% mid-to-upper margins automotive For are

legacy sales interface, in XX.X% radio remote second in mainly XX.X% by These to Europe. XX.X% higher decreased year, decreases of due segment offset improved by and six quarter product driven sales, quarter, offset margins first to year-over-year Interface XX.X% remote partially radio sales in partially XX.X% to sales. half, Moving connectivity sales the exit and and to in lower by and the last in lower mainly were Asia. first the gross in control higher from the appliance increased second the to control months, Compared from XX.X% overall sales

affected second was reductions currency The and by negatively price impact. also favorable quarter

margins gross Interface range. targeting in XX% the to are we XXXX, fiscal high low teens For

fiscal million versus were costs X.X year. litigation last million year this X.X Hetronic quarter Second

be in sales. the busbar second million months, year. in by half. last Europe volume For XX.X% switch to half bypass cost increased quarter in the year-over-year year the In will second and we the mainly six in and We costs product increased and anticipate months, million power XX.X% similar our of these X.X the due first were segment, six PowerRail litigation second quarter, first also the sales Asia. improved volume the in higher experienced to In X.X

quarter's indicated call, to as our anticipated While gross cloud second half. computing and PowerRail in last the sales year-over-year the conference on were up product in first originally quarter, we customer

quarter. to customer levels prior anticipate Our mid-third resuming does ordering their about

$XX As this XX% such, in in commodity million sales now XX.X% million we higher $XX by $X million anticipate sales we first unfavorable offset gross second originally from segment XX.X%. to Year-over-year from from the increased periods, margin the quarter both down in effective partially to to to and approximately the budgeted. In XX% pricing. half $XX was the year, million

gross targeting products For margins XXXX, range. mid-XX% the are in we power

variety range Methode this As range fiscal primarily range from in income $X.XX. due the sales to to fiscal we which acquisitions, in of to guidance includes number our of $XXX of Procoplast Form guidance in provide detailed XXXX pre-tax the and the approximately based The discussion from of of share guidance and This expectations Insight’s $XXX XXXX updated regarding of and release management's the of $XXX million guidance more been and per morning's a morning, from range to in $XXX factors his maintained $XXX remarks. uncertainties, in million results. sales Pacific million involve have months indicated earnings upon XX-Q. seven but for risks $X.XX on detailed $XXX million, will and release million nine months a are to a John projected in operations to this

fiscal revenue were customer brings American with in XXXX, annual business, with new $XX in this our represents of our to from awarded to this overhead additional fiscal OEM importantly Launching product in business this this we million strengthening an Moving million, more program XXXX. North council but our category. X.X our stature and position total our

fiscal for XXXX sensor additional two models. Whirlpool. new interface electric high laundry were an Touch with the average is awarded of for we million annual which to generations another in in program if user volume migrates park programs, $X Europe, Additionally, wins awarded combined. generation launching potential a a There platform was new from revenue Volkswagen other brake new

involves high-resolution or the XXXX. million announced annual XXXX. assembly. heels a $X interface user in start Specifically, anticipate in the million latest production door comes of award console into Whirlpool mid-fiscal award fiscal of this at from the of $XX integrating for directly award washer laundry a of end This We revenues touchscreen a

half approximately was busbar in awarded our our Overall, XXXX revenue. beginning million approximately XX programs power for in product booked new various annual X.X first the Finally, segment in million Methode’s annual revenue. we fiscal

on Dabir. Now let’s move to update on an

research and flawlessly have systems adoption establishment major the in and the we progress by three during of care, of evaluations health Hospital major release of and the care Porter and compelling. in Beaumont ongoing November, a Michigan, we and is Dearborn California, concluded of As These announced Health believe with is Cleveland settings. new systems, additional in thousands Dabir in Wisconsin. the Adventist anticipate at many Loma protecting evidence way patients. patients the we The evaluations pressure begun standard have injuries. performed made all Dabir in important has Hospital hospitals campus in and clinical University and market in adoption from in Clinic Ohio we morning, Dabir Linda Aurora expansion initial Colorado, Health Care our began Coupled its health this

those systems We are was with [indiscernible] have over This we will acceleration continue the evaluation an pace. being addition both clinical next evidence, now driving by additional adoption and and health experience. customers. perspective driven is the an representatives accelerated clinical at healthcare months Further, significant of sales few

will have what supporting Additionally, clinical efficacy expressed many in further of interest research expand the undertaking Dabir. these systems of evidence the

remain our excited of mission will our pressure to prevent Dabir, continue future the to about We patients. ability and for injuries

the will to regarding will call financial give further turn our I Now, details results. who John John? over

John Hrudicka

period. Thank a few morning and on six-month everyone. just I Good the brief have you, Don. quarter comments

period rate Before include my in tax fiscal prior my and Procoplast and results guidance. for Pacific and XX.X%, comments related Insight the XXXX three to month clarify below down months The acquisitions for X.X%. of composition related the begin write-up respectively. corporate Primarily of our benefit year six-month the an I These this of effective earnings is income from tax tax I adjustments. want was commentary, discrete items, increase to tax State with associated in a tax Illinois X.XX% our rate and to from deferred lower rate benefits discrete and including with jurisdictions tax reporting a few to one

we that foreign deferred related tax addition, a a In for recognized continues profitability. to tax losses to jurisdiction asset its improve

compensation. new to stock-based other favorable was tax related rules the for accounting The adjustment

lowering XXXX. the overall are for fiscal tax We for range effective our rate

is adjustments. the XX% tax under tax rates, lower is in effect and to We jurisdictions would XX% with further primarily full-year that tax investment This range. This rate credits, of tax in any earnings foreign legislation be the U.S. new guidance expect rate impacted and our discrete consideration. be generation to by currently of due the

a acquisitions. of X.X XX%, note of at in expenses year. Turning SG&A to two and will acquisition-related percent X.X including been as primarily prior resulting these lower XX%, amortization, quarter our sales you or as the that auto-related SG&A was prior percent costs, to attention amortization our XX.X% million increase the million the XX.X% million sales intangible compared of SG&A, from higher. Adjusting have a increased X.X was to This second driven year for intangible of compared by would

acquisitions had We our in-part units investment connectivity QX also selling cost. lower in related to increased offset Dabir and absence in of were travel expenses from fiscal increases in legal XXXX. and increased exited administrative the and expense reporting AES by fees These higher

acquisition-related expenses costs, intangible fiscal amortization a to was year X.X at of the increased the first SG&A XX.X% percent million as this of XX.X% compared sales a Adjusting percent compared SG&A and For have to or these would by XX.X%, half $X.X including been of XX.X% driven prior primarily of was of This sales ago higher. million X.X million as intangible year, for one amortization. lower year.

increases and in and offset travel X.X by million in-part and These of administrative lower from legal expense additional costs. acquisitions in investment absence Dabir in to increased realized related our higher fees connectivity AES bonus also the units. of reporting We were expenses selling

capital half we the in to Moving invested expenditures, million. first XX.X

We are guidance XX of investment are revising increase. There drivers of million to million. number our to million a to $XX estimate million $XX to contributing in our range the from up this be original XX capital

Insight the initiatives support With and there businesses, respective be synergy acquisition with support Pacific Procoplast their Methode. investment well as additional required as to of will

purchasing addition, accommodate technology In also there. new our are in we India to presence growing a building

months be wins earnings beyond increasing additional We operating year be was investment Shifting quarter million This for previous lastly, fiscal a on million. the to to XX.X XX in for business or XXXX And inclusive Dabir sales. for new will launches XX.X six controller reported our of EBITDA. and of XX was this next the care in this capital depreciation to are quarter. between we for as investing amortization settings current first our our expand Expense presence room. gen support in year million expect the depreciation amortization we the XX.X% to calls and million and

For million sales. period, XX.X was the EBITDA six-month of XX.X% or

million. disclosed year-to-date. fiscal press to half remain and these our XXXX and guidance, first related XX to Don to capital we million during our by period six-month and between X.X million acquisition release, cash XX% expect of or EBITDA second investment Adjusting earlier million in I improve fiscal Free EBITDA million previously, Based mentioned for Based XX.X%. the free flow incurred for XXXX XXX fiscal on between higher we guidance quarter, As our discussed be in costs, a range. X.X XX% the and we on cost XXX was XXXX our million to would million. and XX.X expect flow cash XX

XXX from range. announced to XXXX the we to range in revised million two the $XX the to in $XX this range XXX release sales $XX of the in the $XX million due XXX million we increase resulting as to the Pacific fiscal sales in Lastly, million for morning, Procoplast million and from XXX million auto-related Insight to acquisitions, in million million, primarily guidance

segment to sales, by the design in contributing driven is fees. and also and currency volume customer Our European tooling growth automotive

earnings sales, operations income increased we both guidance share. maintained While from per we our for and

copper by both Pacific foreign concludes negatively to from Procoplast this offset associated Also, we acquisition-related While sales XX my totaling the profit, higher power be intangible in Don higher and generating million. impacted and by prices, flow-through that in offset peso, will lower amortization is are primarily Insight sales, largely comments. stronger cost segment. the our approximately their exchange, and

Don Duda

from question. Horn Riley, Christopher Please Instructions] take questions. B of proceed are we much. with line thank Van you. John, question you [Operator Our first ready Thank your comes Tim, of FBR. the very to

Christopher Van Horn

taking for Thanks call. morning. Good my

Don Duda

Chris. morning, Good

Christopher Van Horn

what the kind you these as pipeline, any synergies I’m what what on is, market have could amount some give maybe how level bring legacy of is the form, came dollar the us from perspective from and you of a the about, you well acquisitions hoping to sort in Methode companies acquisitions? two as you are your of that that these going your now see products vision products, of vision to then and kind

Don Duda

our Procoplast, us or mainland acquisitions itself. needed getting we product early products entity, to The we we Europe team out on that access additional acquisitions roll I’ll for what current talk first. There we larger, continent about expensive came have those our Sure. gave the line, the about of or some are we a thought were looking customers. out filled that Egypt manufacture for from bit more a of operating the of active than are program, been Malta shipping doing stabilization out prospective

So, we searching that. are for

time of me get had our help there we as background that there standard that are the a cost that to of a is with excuse molding mentioned of in with Procoplast, are so well is not product. our margins so does they that going Bosch the out have to know - rather. of happen very lean customers, one Bosch that operating frames, molding us Bosch, are its is take past, or to there overnight, they employ but since insert their I to Pacific and and we both have they those, Insight two and filled of synergies we favorable manufacturing, a that that cases, and Methode to things that the major because in customer. you synergies suppliers allowed we we very had has, background we favorite to We are it discussions And as both our see one searching had They know look lead customers and to and those. is the penetrate complex and are were proximity and That that to for business for lead frame plus had insert unable complex supplier Procoplast suppliers, in the close doing enter - and this also would business

we So, coming fiscal anticipate year. in the that

that be and they will understand are so manufacturing the bigger synergies We on. understand, those both entities we in we

So, we how there the to a expand is that might really story. learning be for acquisition. in people our we overhead became has and opinion contracting PI associated Insight lighting for approached LEDs we company important, who fulfil the consoles, curve looking We console neither more for our the We a synergistic or same harmonious we to becomes did, particularly little in console very also into some out for like less the combination for realized for PI PI the instrument Pacific of drivers, then product product there the and overhead lighting best of was other and center lighting and desires a offering, us and vehicle and automaker's in in doing were cluster with with even more for as names counsel and so them that technology really the and now the offering. got the the to the along were were were looking center integral sale. now that allows important

So calls, important very has or lighting previous and I sense become becoming the tool a on that have - it sales us is said in for vehicle the made is automakers. for

those So, for those reasons all made sense. both acquisitions

Christopher Van Horn

mixed companies those North a for you is it going relative expected, in the little And like the math it on Thanks of America, higher we production kind advantage well actually seems color. any the that is bit Okay, been levels there wrong, within my than like then did quarter? Pacific quarter all seems pretty Procoplast was great. has what for saw with to if unless during

Don Duda

No.

but in changed we was answer is on Some our there diligence that doing lot data, out so stuck really due don't trend projections a the - order it. that of initial of hard nothing that, from it to it have

So, I say no. would

we to under belt we as quarters bit more think able these of get our with that I answer will both little better. a be some

John Hrudicka

data Yes, mean three while limited and the would Insight also one I is months. of comment points. Procoplast month just Pacific they are I represents results,

Christopher Van Horn

there not, been me, half IHS for year? if you or are what about challenging production heading using Yes, for if of your a of expectations talking OEMs lot have then so, for into kind your the guidance, forward, back of your environment make sense. going fiscal And final expectations, your are and

Don Duda

I releases really little We been how between that releases those that and has fuzzy, points tend out six is the on also would usually pretty our one and to - but we of use have automakers. check There our past have three be has in with advantages LMC and Methode months IXXX - a more double but from been good say for Thailand guidance. may and point sales the months data data, the year but we the would gets last our huge derive launched IHS is bit, I reports Brazil. down year-over-year, a

the terrain we now at So, of seeing the DX being that in so pipeline. and then this benefit are are and full that’s rain launch year we launching

the in benefit we increased the we see have seen of Europe. benefit So, sales and

U.S. attributable overall numbers you So, if really acquisitions are showing down they the look when you they the are at year-over-year growth out to take that. our slight

Christopher Van Horn

Okay, great. I’ll Thanks in hop back very queue. much.

Don Duda

you. thank Sure,

Operator

of David Our Please Baird. with proceed W. the line your next from comes Leiker of question. question Robert

Erin Welcenbach

This on Welcenbach morning. Erin is Good David. for actually

Don Duda

Good Erin. morning,

Erin Welcenbach

on dig excluding is, first specific organic more if acquisition, a you that are strong talked My growth, again, platforms a European growth there could bit bit you into any segment, little the growth. even following that little about certainly strong stronger if automotive question up maybe driving

Don Duda

commensurate necessarily anything the were and they smaller of of you hidden do had now we design profit. also or the We’ve exact from had or tooling fees add? don't we out remarks, good date Fiat had to us, switches, a as vehicles, front in ergonomic premium then is it some have in of a but fees also so with that prepared the but Renault, number makers Europe there it auto is or the been I the pointed the launches our - and of premium when but have volume launched have John, in switches, Ford we not contributor have of for,

John Hrudicka

No.

by currency as have the helped been think well. contributor only I although we

Don Duda

Yes.

Erin Welcenbach

transitioning guess, Okay. Great. acquisitions. just I to then, And

abating the the acquisition should from we those be quarter, over quarters? of how in costs headwind about couple the thinking next costs Given

John Hrudicka

highly we forward. going Well that’s on that acquisitions would pursue dependent

we mentioned are say three we of interest pursuing and continue the in at our looking now us. be aggressive where to to very on As targets calls terms that past, of I would pipeline

dependent that. upon So, highly

Don Duda

major And that contributing that launch back over that the The your that and sales well Erin Europe. contributed launched to is is HVAC several program circle on Europe. to that Renault question and in on program as goes in platforms

Erin Welcenbach

Okay. growth targets Great. Thanks. growth? organic one circling And that your back kind where growth? EBITDA of how for in targets, just comes versus question, long-term And annualized then of final to are your XX% you on X% from much that inorganic

Don Duda

We it remain X% past, our as in growth, that plan have more tends for to that we on target any said last the and backend our XX% wasn't - loaded.

wins of beyond. announced for number XXXX have a and We program

So, that as progress then as and that widely, numbers. is do product gig that I reflect if not downturn had we in but which non, in shall occurring there our optimism are And products, other point those in well I need that current also, a certainly XX contribute, see out, seeing us product gives would we a was on. Dabir our volumes our that to we automotive non-automotive,

product computing well. cloud as Our

Again on anything? that. we John, So, if remain have you optimistic

John Hrudicka

No, gig. that is only other mind guess product comes mean I the I XX not. to category

in surface relative emerging growth technologies that XXXX. nice some XX seeing segment We other is in are hopefully some gig will that we there and think to

Don Duda

out, that talked XXXX, it Whirlpool at X those with this it program quarter. now was now - again pleased are we was the announced million we are booking and business a would point our of we I just, also are that $XX I think and I about fiscal end we million

year years nice continue. wins going and we weren't point, quite So, that those and ago, at sure was two are a to very half, one if

So, we as are that very well. pleased with

Erin Welcenbach

congrats Great. questions a Thanks quarter. and for taking nice on my

Don Duda

very you much. Thank

Operator

comes your the Dyer [Operator Instructions] of question. Group. Hallum with Please Craig of from line Steve proceed question Our next

Ryan Sigdahl

this guys, Ryan on Steve. for Hi is Sigdahl

Don Duda

Hi, Ryan.

Ryan Sigdahl

businesses, of at that you the products from synergies, space it about mean direction, crossed piggybacking So, are revenue can a Technology synergies and customers? benefit potential previous and MEI question, other sold talked Procoplast looking there easily how several as off I be but but

Don Duda

Methode tends insert molding our of between talked is very not - can our of talent that they some got and and cross be pollinate job can the smaller smaller products. to they as and automation of well may well. large that. do have Generally, smaller differentiate that were mix in lot areas shape about, there precision a a versus tight where Because Procoplast to, that Quite in did to I some very have the are shoot in insert do molder of products insert you hold then areas in want position to molding to does very, and companies quality, we world be on frame the automotive not we the largest, their that assemblies with versa ___ vice tends past, we Bosh we not products like larger frame good are

it XXXX that eliminate but consoles technically metal business that, there should something are both part because it are Molding, build of And very to or where think there to into financial is it our essentially can we two. didn’t we So, that’s year They way looking answer or for Pacific a selling producing supplier at bit booking are we those not happens that - synergies and now. Insight. in the our come then now, exist. but Insert Procoplast, opportunities are same don't much see automakers, are base will overhead between quite adding next that to people the companies beyond And or I and a certainly we said there is PI, all I I Having synergies business but on the are and between great. so. think three models,

Ryan Sigdahl

and missed entries, adjusted And was it of expect your metrics in on secondly do P&L? flowed adjustments prepared through Great. accounting that, gross excluding on given, top margin, the to maybe purchase you remarks you are then then of but what those when kind I secondly, the have after margins normalize

John Hrudicka

a relative about out. and normalized accounting So, that was speak smaller not we stature purchased did really in in would did remarks, costs gross the to the acquisition-related talking margins primarily we to call we that prepared adjustment be

Ryan Sigdahl

Got you.

And it into Okay. be, those is of kind accounting follow-up purchasing kind factor would affect there in? going to just where it should you this of quarter enough no we material that and lingering know

Don Duda

through more The reporting point be we those we intangible we when shouldn't change on in time. any not that any there but complete based is going valuation an valuations. expecting No, are this are the at amortization material estimate, still

Ryan Sigdahl

source if indication or whether on and…thanks. lastly, many update suppliers broken provide Then integrated they Okay. an be it our will F-series, any next-generation are between is up stack in a award center can towards sole their you leaning

Don Duda

would I be to that in NDA Methode really that’s though. can’t into our not I bumping participate that tell going our is can you customers. that something with because

Ryan Sigdahl

Did you not in you be say it? participating will

Don Duda

correct. That’s

Ryan Sigdahl

Thank Okay. you.

Don Duda

you. Thank

Operator

There the to to back further of audio conference. closing I like the portion management over now questions for are remarks. over would the no turn conference

Don Duda

you thank a much. season. conclude Tim, very very everyone safe holiday day. by and wishing will I pleasant Good

Operator

for This Thank concludes today's your participation. conference. you

wonderful of your this your disconnect day. time. a may lines rest You Have at

Methode Electronics (MEI) 7 Dec 172018 Q2 Earnings call transcript