you, with Matt to have our Thank Brian. quarter conference course. CFO, me Good This Farabaugh, morning, is operator. call. I of fourth our Welcome everybody.
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on go Let's to slide four.
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the the about we're pandemic and talk going the industry. aerospace crisis of the impact So economic on to
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Slide X.
crisis economic the to So aerospace about on industry. impact the global of we're talk continuing the
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On slide X.
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just for discussing might the it think I reasons that we're now.
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on slide XX. go to Let's
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Let's go to slide XX.
we're update programs. GE doing with let's So how these
are programs look it So GE say to how doing. -- better, the let's maybe
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risk. redesign There is a
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slide go Let's XX. to
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this presentation this If you don't from take get away. anything
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check. boxes we think are we these checked want boxes and the you So of here, to two three these
in want you to that means aviation to commercial be in single-aisle. want you If be
single-aisle, you check you to we to check want boxes want If boxes. in those be these two and do
Let's go slide XX. on to
commercial to one in two, page end main next discuss aerospace to that emphasize our we'll of as strategy Our market segments. another is continue or slide --
as down to I space. So aerospace. just said, backing in doubling not commercial emphasize well. want military we're area commercial as from we But aerospace, commercial We're down
at believes aerospace commercial to it's the positioned place is We ideally on in single-aisle believe preferred be now, Park two that and single-aisle for programs. the least aircraft
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be little a to a may discussion commercial many go a kind philosophical in talk could XX, slide about we bit of and on not So interested let's aerospace. this
the human in or to it congregate. so. doing pack it race nature to stuff on is human So, don't on I Are XX in we -- that. don't fear Virtual I itself all overrated. The think basements living know buy slide is I living and ready is Zoom explore and our first iPhones? don't the and resign isolation? to human living slide race our
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developed It's many of over human years. You and thousands that's nature feel want to it.
have be congregate, Human nature want together to in to They contact. to people want physical person. that
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be a course to telephone Of meeting to it want do in person? it isn't okay. You business meeting always better But is. that's
human these going tragic can commercial the devastating going has good me come crisis nature a for through in crises. aviation even basements live the to heartbreak. But most a place say race and with sometimes to future. in much things our We're not things in the despair We're fear. all So, human in out
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ever flying commercial We only more than safe, ways and with of provide wonderful believe will industries commercial aviation people not also experiences make find feel the aircraft but to before. them
not this my will. there's my So talk some go going some in -- moment a to It'll to where go forward -- will opinion it people not back. will will go kind never go about back? and opinion make it's some and it me watershed is of It airlines back
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forecasts. in for on January the Conference Needham our the it Okay, let's forecast long-term XXXX. The to presented. on in the actuals to just Growth XXXX. This as slide rest change is forecast at what's talked XX, is that Conference, Needham was about fiscal a presentation We go published the our only XX. The Growth dropped is we
be aircraft it we is and And just us recover about -- we all to don't guess. do beginning are Why we commercial forecast for we doesn't long-term aerospace our will at guessing. helpful those the don't how we just because Then impact just not Why don't will that? talked business factors know. those It's it's know the all know? useful we'd which for industry doing or Because withdrawn. think anybody factors we and
questions. XXth we We sages beginning the so don't Berra. presentation the to Remember to those tough Berra need some know especially he's answer we century the all of talked about at of yes he's those Yogi predictions future. Yogi the the -- It's factors. of the us make one about
about thoughts Our XXXX. fiscal
more to weeks the in So, make QX, little few we it's even so in QX, information kind unfortunate only pattern can to remember a a quarter of last the give about QX, few to though weeks. we go have
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be but could QX be guesses. maybe that could really a getting big be are be -- burn-down that very $XX could positive, million. quarter. we It to EBITDA know. maybe breakeven Remember little we those -- don't revenue under don't almost know
would we the June feel kind you GE how we information just an QX. which we give and we'll story give was July What and QX update with speculating be and as of at you on when we'll to is about don't QX. do we'd and end any same know of for Aviation do beginning for QX, our be QX QX it on guessing QX report
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the key key that cancellations getting they're orders not issue So, the more and issue pushouts. is is
terms have deposits on the airplanes these of of in want cancel not. aircraft decision-making their whether to which lot or A companies they could affect
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thoughts Our long-term about our forecast.
that really But seems we're So, That's is. quantify going seems back that. again. It to not about And pie it it? military a pretty this Here It we're you. chart keeps nice and lot of happy coming good. point programs. at anything we're again doesn't military good pretty on for
discussed we are aircraft risky aircraft areas detail business that and The and commercial in already.
in a that principles we or going delays. So, to It's and that if time there's page at are drivers think the you on the of look still top place. forecast basic the be just lag
course, at of these question pushed And the right how the is the know. well, don't far are we least is, forecasts conceptually? So to answer
Let's to slide go on XX.
Okay.
So yet. on going Park? Park at what's haven't even you We told anything about
still fully First all, we're crisis. the operating. been We've operational through of
Our be with with home effectively later think including New but employees remotely of year way, on audit York and all The but auditor. the end and are our great XX-K tonight -- going ought done working the open, office is technically to the today. we're or closing our hard to a everything job. file By doing from I
a before, we done our people haven't was did job. it little bit challenging. got that done. I So it mean but great a They
to But more understanding told business open. told stay defense you're the operational not we're not means It's expected to expected maybe Department throughout. is happy We're Defense exempt from in expected key if whether of the you're the -- means the you these said. programs Defense, open. if of some which essential to to you can't that have letters support Kansas stay importantly, what thing. delighted the you're Defense guess by Department contractors to by but I'm to XX reminding critical That's very can that on decide us to you're But stay Department you essential, I My from same open. open not. talk Kansas open. or to delighted we had you're stay I'm stay facility we're choice, of It's we about. an your manufacturing order. open to and very we're fully open. happy Our stay defense That stay-at-home exempt stay we're of of
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absenteeism. no have We almost
which every Our coming that may we're I'll doing programs, they're job know exactly. security. defense something, there those in important But people their for about tell our you supporting are not it's day and you
those programs. are Those and here ask much don't are programs too important you our if in us security? about me. talk about to want hear people the supporting with media You are people I who our
Kansas. in place in measures Safety
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guarantee got factory. to if we plans contingency although a the weeks to you to happens. we want just couple know, everything possibility get in a just saying -- be did, if and we I We're might two-week That'll shutdown. But in on We our I it. does. we it planning case doing can to probably of it. what can't programs we course, just going cases to it there's clean have not And that's that it know have happening have that of hope we're be doesn't. happen. military a not up for let do to ahead prevent sure We're close we we you
doing are people Our great.
hard. XX. slide so new Go could on get a know recent because years operations common are theme. just on and working it's to in In I not initiatives, projects our to we driving Kansas, we
a heard that lot You about us. from
a You But schedule. the we're hearing probably now of reduced production the have as of tired of it. available about additional result taking got we advantage bandwidth,
And So a there that we're and on there are a good. more all number of working of are for initiatives of them number Park. are things exciting some opportunities
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Slide XX.
in with So Newton, what's project. expansion the We're proceeding going Kansas. on? Major
just a the bad of was weather. construction and little pushed early bit with of Our because some completion that which winter, real the delays the is deferring Part XXXX. bit items. to economy the a some had prevented virus. a We're right little of We
we of told down which probably you we're last million some deferring million, budget to $XX items. original about the $XX.X budget, the So
factory are we're up And to get reason -- don't because actually good intense doing thing it's well reduced demands, that? we doing a that away. our The is because right we pressure why have running of that – we're the and
really on back what ideal of to things we can these us three, then so later we've we it. decisions ability have have six, on much not pressure than look have down what gives as done. when just for A be need it or this optimal would didn't luxury. road But year So back kind and rather may nine we what being that we months we make it would hold got to the the of some been to get that want
So advantage of we're taking that.
on decide over budget the do. now, don't of us retaining need something to or the to back some later $XX again. déjà flexibility on what feel later vu to And But gives The right items of close the that may It all items. it. some come deferred up right So where number we in them are we away. we to million that flexibility we
little on of what? but I running just because funny we're know here it I'll story, a think You a It's time pass out kind bit. of
should about don't I'm just taken who CARES these are money. money. not that should not it. on go benefits Park for just don't suffering, judgment money. We saying any to take We that not -- not how We're we'll lots of And right slide Park heartbreak We've debt loans. and of taking feel significant for talk we tragedy no despair XX. for placing and else has people we intend I'm applied this think anybody we who is It's So about. money us. cash, to. has ACT. we think or as that
let's dividend, on our cash go cash. Park's to
per skipping that's Park Well Park since in cash $XX.XX always like money a future. XX has don't this subject So in you part of dividends beginning million a change regular amount. Park, the XXXX. share paid $XXX ever or has million reducing $XXX the lot the smaller of think? is a to fiscal paid company without of dividends in dividend years uninterrupted dividend cash consecutive quarterly for
regular quarter Our our is per continue current to $X.XX intention dividend.
but Balance $XXX so. sheet. debt. $XXX Is think think and cash it just of I luck? don't million have cash don't in accident? I debt, Yes, an no good million dividends, so. we paid still no that long-term Is we
not So made it's We cliché, Park corners. twice every We money This we've sound feel nothing the built you may way. taken something it cut We live don't now. you at palpable. from day, any shortcuts. but old-fashioned that if
there's another good just reason from and -- want gave ever called us We or nobody that's we not luck anything but don't discipline. asked that's anybody, So never anything.
were of for to any We've keep years I last sense you make couple also telling mean, we sold we don't companies very the And been at we've valuations they at where for times six because as said us. acquisitions. frustrating looked it's revenue. looking it's for They times like a maybe that cure And revenue, cure they And had a be? for cure cancer. cancer, have of they had but can old the cancer. what, school, for kind six thought how think didn't I'm the didn't we these
were So there. XX% wacky about four, the than it's no we higher the valuations I'm appropriate. talking than something, three, way we times just thought. looked I'm time -- at was not just got higher about we to be talking pattern. valuations XX%, XX%, out But Every five ,way a thought
bankers to kept getting in and by really that get got we And "Look game. the such told you
it it waste right did care of didn't You got excited. and out." we to took We shareholders' and money you're we throw because because missing we or Well spend involved your and money had discipline we the got away thing. our emotionally
our for Park any go even Let's Park, to on opportunities following next sheet. strategic something companies, still highly potentially about strategic very which just for are to Great it's on company company, or not good point the values. page a Park or for at distressed buy balance
to Now do we somebody we're trying take thing the Park. best don't advantage pain. sound our want to for like But else's it's job of Machiavellian to
bankers companies their company. there's with for us. guess, this. to some pay great if could they more maybe before don't when months value I are acquisition available. so weren't distressed may settle people -- they than are have the be a a told the what or opportunity opportunity And know wait values to really going I'm So three you and out think to Right now these I being It do. to for of things four confused we once-in-a-lifetime about I spoke become
thing a for in that be have could good to invest It to important hiding waiting thing things new kind at to very really Park balance asset business to be sitting debt, people and opportunities Park own be that Great its Other may for soon, for not hoping Park value waiting waiting. looking sheet, for cover may cash now. cash, will have to real others time a business see. for about. get that think have no important just We'll of really and We're when anything. opportunities kind of better
full things worst is which deeply. believe opportunities human good of can to crisis. But out take in and now well advantage mourn tragedy we Park the and world The don't is it We heartbreak of that. sounds come sometimes It's crisis the think even we I presented the it's job do by maybe our Machiavellian, the intend can And global cold-hearted to that so. to for like or do but best Park. -- we positioned
don't They not in rodeo. maybe We're first like difficult deal make And hide were or years. very sales electronic maybe this not our $XXX in I the want to planning to with to deflated hide realities. to But million. is XXXX, bunker for I'm a XXXX and even the to time. retire. think our our want want people very this We hearing upset that few next It's all again, tend are
because $XXX got economic point? of ahead maybe Others not because something not We're of Next Park overheated year, million falter, not to it was and going industry anywhere. electronics that. bunkers. way any That is that itself crisis. going an the like the Get may was but collapsed. And
any questions the still happy anybody we to hour. are in it so Operator a brought on little If one this at take questions under line we're Okay. there time.
