AEY - Earnings call transcript Q1 2022 | ADDvantage Technologies Group, Inc.

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Operator

Good day, and welcome to the ADDvantage Technologies Fiscal 2022 First Quarter Financial Results Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Brett Maas, Hayden IR. Please go ahead.

Brett Maas

operator. you, Thank

today well joined Officer. Hart, and President We Michael by Rutledge, as as Financial the CEO; are Joe company's Chief

future such Commission. XX-K should consolidated a with call in which today ADDvantage events in presented on based considered to Form press maintain Securities on strategic Before of or equipment of the on to of forward-looking These statements such and this predictions agreements and system to I'd recent Technologies statements due conference as included on we contained cautioned notes of in original available subsidiaries differ release conference other and issued the limited to and call, things, remind this on a the future most risks subject currently information Litigation provisions Technologies. ADDvantage relationships Technologies ADDvantage on forward-looking XX-K. begin with this Reform certain is report company's conjunction as Participants future early statements Securities you be are and change. of that among The on Technologies' manufacturers Exchange operators may Act number and Safe those like Harbor its uncertainties. anticipated statements financial results events, call These which involve the earlier Form from regarding ADDvantage included statements, information report ADDvantage to contain multiple future these most Private Technologies' is guidance ability the as with materially actual recent and results are and are XXXX. financial subject may factors, Financial forward-looking well as performance file today's of statements call variety in regarding include,

year. update Such certain not will any it the guidance change, as only of points guidance only information of provide at such as this necessarily ADDvantage Technologies factors company and information during the the date may Although will influencing speaks the call.

certain present these financial at ratios non-GAAP in are that income During issued net this used financial with website our and press such on in as located non-GAAP today, which measures our measures, earlier also addvantagetechnologies.com. we call, certain release and tables may are

financial a reconciliation and Officer discussion President closest these not benefit with of the find go relevant. You'll call to should financial these These about now the be non-GAAP of financial GAAP Executive included like financials instead are measures the considered measures we measures. and measures Technologies. and and turn GAAP of Chief Joe, ADDvantage are Hart, to non-GAAP believe for investors Joe to in I'd please addition of over ahead. why

Joe Hart

call you, the thank everyone you to Thank And today. joining Brent. on us

telco growth We our in and of year-over-year and year. This consolidated the the during the continued growth with accelerating continued ramps a momentum significant growth wireless first leading our XX% for rollout this both basis significant on balance confidence to revenue give strong us fiscal quarter, in revenue in segments, quarter. XG the

the wireless activities expect range from the continue has saying customers second in several quarter, in from earnest, we expansion multiple XG year. And been finally to significant million fiscal we've As $X revenue the further begun grow in rollout the half our the with states. leading to of fiscal in to second

Action next will into improve been to expansions resources two margin and the has service and has the our and and administrative margins, new for and this exceptional operating margins deliver of fiscal last our we margins reducing to expenses while expand adversely and us QX over QX to markets resources affected improving general now operating focus our operating drive into be year. our and customers. to for enabling future turns gross quarters demand, expansion during efficiency The Our properly aligning taken to two and ramp we quarters.

with Working orders revenue wireless acceleration. as is approved. to at Investors this should move permits not likely our are managing we the in but work team fiscal our entire expect at as rapid work fourth hard Our make quarter. growth, margin customers just to on year, crews expansion sure peaking place in through closely deliver have we

While grow rollout expect we continue wireless the increased throughout revenue other aspects XG this will already XX% related to fiscal tower it to year-over-year, of work and that year. has by

long spread involving work the based across several The customers of the recent has regions United entrants touching we growth all center Our States both and large many the service, new and standing carriers been market. broad including touches to markets. the metropolitan

meaning projects, where completed, purchase we awaited been that is surge confidence will to orders new continue gives us significant term. us as are of pipeline for permitting for in long have accelerate we awarded Our the the work waiting near XG

of have revenue. wireless quarter, I year orders already our in the fiscal As exceed total that construction we last value XXXX purchase mentioned year for fiscal total XXXX hand

months, upgrade have few site awards technology last the demand. staffing meet have And to we to growing cell this increased to XXX over for our Over XG we won sites.

investing this secular In public quarters. labor be in carriers. but represents Currently, Each discussed. tight and up in carriers wireless there work, are and is are information a carriers market. XG the in most fact, technology from multi-year widely the in trend, millions of we staffing running The ramping at not datacenters, crews, the of subsequent we'll challenging growth expansion for plans the CapEx for are part of XX this handset the wireless of just manufacturers and hundreds tower of providers, dollars opportunity

chip cycle have a are telco the quickly telco delivery chain as shortage other in our expensive. more expansion that strong the driving dynamic remote the results segment and documented increases workforce. new that people from are home, simultaneously and of from office telco price infrastructure made supply fortunate segment. has have new well equipment issues import to changed working The elongated and for facilitate equipment, an Simultaneously, are wireless are trends We expands, benefiting requiring this we

our and factors option. make by sold viable Nave these of a equipment refurbished compelling Triton more and All

its You an can of million to see consecutive the which XX% year. increase over last financial quarter of segment, with third finished quarter telco the revenue $XX result the compared in performance in of our

to elevated quarters a a at leveling continue demand relative revenue some growth to the future the XX% level delivered somewhat off a of past. albeit we in at We quarter. point anticipate recent in Overall,

business and and overall the believe advance expanded Our markets crews that impacted coming volume offset as is spending increased quarter inflection margins necessary through of fixed the where able move we demand. new to to late expansion But up further current we margins in the will points profitability by the costs. as with to margin begin in improve were and ramp into the capabilities our year, reaches we

our to CFO expenses operating enter second please a also detailed Michael and reducing half We our and results. turn new more the ahead. markets the of the Rutledge, of fiscal call begin now we go I'll G&A mature to that, over Michael, year. as review With financial provide our

Michael Rutledge

profit last offset wireless the year. million increase sales increase The to sales increased million for Joe. the decrease to or of $X.Xmillion months period $X The was a XX% million and telco $X.X $X an Operating you, million telco XXXX. of first three increases for December for Consolidated $X.X million the quarter million same Thank quarter the for period $X.X million. in of million $XX.X million to$ of ended million loss loss last based gross million, diluted last in year. increased to to is The sales $X.X compared expenses of infrastructure the XX, of increased first to to Selling, or shares, regional strategy related $X.X support for sales SG&A shares $XX.X increase $X.X wireless higher diluted million. expenses was increase due $X.XX due relates for per for primarily and segment quarter Consolidated in for first million million $X.X by $X.X year. quarter from expenses compared The $X.X the last increased loss segment in to to X same Net for for same the increase $X XX.X administrative the million compared million from loss the company's in with investment year. or growth quarter $X.X million based the or and reflects of expected for general increase million to the the revenues. to on a XG net per a million commission's quarter growth. share selling its XX% period $X XX.X on share same $X.XX the

$X.X equivalents as million Turning $X.X fund XX, to XXXX. to used primarily sheet; of cash December our XX, to and September Cash balance compared at was million operations. cash were

the XX, net December XXXX, of million. As $X.X inventories of had company

of operator normalized This our business business with the continue to appropriate backstops call concludes to to financial overview I facilitate the to believe segment until sufficiently any the are now support conditions will capitalized return. questions. over conditions more turn we remarks. near term We

Operator

S.A. Velmer Instructions] [Operator And with Advisory. William go we'll first to

William Velmer

Yes, hello. backlog? quick Thanks right number the a First now? question. call. give Everything real mysterious. my of seems backlog Couple us questions. Number very real one, taking here can for of What's you

Joe Hart

we're the first total of order wireless XXX for in when assign quarter refers off that number burned in waiting hand purchase wireless have on million mean, we to sites I some the $X to based backlog. is backlog backlog. that The I $XX million, the is in where or mean, for I we now, relate to backlog is XXX sites The in Yes, refer to that have what for I through. this right, yes, on, But that's come based sites of burned Joe. orders said off we the backlog? purchase about

carriers. about continue as progress and the we quarter, in $X we'll through sites get additional to the million us this so of to it And next by first assigned so burned And quarter, quarter. we on

And target. So way take backlogs sites vary not to it's a referred number average is I can a you per fairly bad carriers an a widely, site bit of the of about the probably by that typically $XX,XXX. that but moving to amongst use. XXX revenue But

William Velmer

What subsidiaries? about the of What's subsidiary? rest backlog your the other of this

Joe Hart

subsidiaries to of are and ask and Well, kind retail similar ordering essentially bid the telco equipment opportunity.

come based have not runway has of weekly a on of They're rates. In they more The orders about So typically et case of the Nave there. bit week's that demand that they're subject process Triton so orders to a Shopify historical don't daily but of little a that's in business. more Amazon, businesses cetera. backlog kind through run view a are Datacom on backlog high transactional really Communications transactional

William Velmer

good we here of have an but prices? an another mean, that's EBITDA dollars. promising earnings we million their but and that's another a your by had raising about better, and that's case of So bottleneck the the the get can't these are you topic How days. choice affected product we of businesses the if been bottleneck, have keep much talked quarter you've couple you backlog I quarter a lost positive

you rapidly You can't road. When and business keep quarter that is since another, still you is third watched to kicking down keep just keep losing guys is money. can This growing to explain you I've and seems the the it's this money. us be the losing

Joe Hart

well deployed those off to in one margin you're The issue you and Yes, that get have contribution. that better have front our multiple it's mean making is telco where is to and construction of on those those markets. in businesses increased order there and making, in support overwhelm EBITDA and teams says side, deployed markets, making a to and logistical we is place new expenses new ramp I wireless the good geographies have And experience also nice intend perform to you then geographies, itself, our out our it's by your the of EBITDA market business sizing and get and shows place, future you're we do, expenses our the ensure and reduce consistent gate. to resources, intend contribution. and with customer of levels that, to to what in over the that's the end couple much And can And appropriately. once back quarters operating you better on the G&A doing next a deployed we for side the and of resources trim wireless right to profitability

you with are fine yes. you So math, correct, are

William Velmer

greater that allows you fair players. they're would they're once be going And give anywhere. the got with you And a you're basically, margins, increasing flexibility to getting this not and players, assumption? you've So happy,

Joe Hart

demand as Well, of that orders, area, you -- you're you the uncertain the in demand makes a the but markets, to that hard markets. deployment to certain in justification don't promises you these on these have get amount demand of itself. new justified for a which of demand purchase new deploy But you're as level shows

are a essentially level spend the company, led total and what mode, decisions we growth to you're then because of deployments. expenses the in resources these the level the fuel to revenue is. doubling right, way you there of and You make reduce about we're appropriate size can expense your or And good the have and

this now's it a through the we recalibrating end the start time current of Now's as to back get expenses, the move situation. into time and those quarter, profitable

William Velmer

different review, I to give before, consider. winter one, a use and with visit community for brokerage some this your ideal And couple time mentioned, and some the to we're writing your it and listened should the firms Well, there ramp dog is definitely been something a you the conducted? Number growth affect stale, maybe maybe can are? The could kind of that guys in Does vision in in areas you is this a to It's I've get upgrade quarter, and that while. isn't very would say that of cash. you're people as it's company second be an presentation, of you in a that seem think number stale that to since name. and of majority do kind time you And ponies up, of up of ramping to us to two, out to kind question the some I brokerage mode because environment. still business work be

Joe Hart

That's storms combination of week we well of kind couple internal that We days. crews for subcontractor as a in a Texas like down as two that Yes, crews, a pass hits our as variant know a crews. or latest the winter well were any as unpredictable, ago. through, bit COVID both

wood on Midwest, few or where the row weather. we're a in shut there in work down knock but a continues days far, are for So days

to long us tried we a We, this So our of build for that budgets. lot into been a time. have doing

winter when know it Midwest. January, never hit. in that the But February, you in it's will So March will predictable hit

William Velmer

ahead. Correct, go the -- and what about

Joe Hart

sorry okay, it's No, interrupting for

William Velmer

get do and firms really Because pony on eyeballs? have what's out I Ks. an filings to put really the press presentation you the do don't and upgrade what some us don't out, of was some you Qs dog about some there curious, with No, for to and shows a except to brokerage know these of you tendency going new any let

eyeballs? get should should that maybe aggressive a maybe So more be, little attracting on

Joe Hart

we're that's front have out standing gotten think I to suggestion. And to you is a touting I'd we it approach about like and Yes, the we profitability. when it great thank investors, breakeven, my business I would, that. profitability, preference grown for that's back to when we and in have of be get turned to that and there around

game the suggestion later perspective So that's would And starting from likely a timing next quarter. to prefer do most your is plan. we something

William Velmer

-- Well

Joe Hart

We can get updating. the presentation

William Velmer

time market growth, profitability waiting companies are it, you tell the the of the expanded ingredient. instead for on on that since your waiting sounds positive. to crews. your to should the but things size. the be at rung, -- to many expanding. crowing be workforce you're Businesses always it And people about mean, one is Yes, growth, I perfect. size you're for both your your are that the prior the potential, increasing never missing pretty cases, really, that bell the revenue there you -- are just waiting Maybe and about really for We're are and there profitability, bell think being I start of possibilities, they already revenue run. to it's in look

stock basically is investors to should maybe is while kind start of sad. the be dollar, now told the around really which So hovering

some I growing. owe perfect, Just, to and route but out the presentation on I you're think that Things you time mean, shareholders this thing. eyeballs it's there get acknowledgement that aren't

where of So I'm that's kind at.

Joe Hart

with I you. Michael think our heads and here shaking in are agreement sitting I

our have front. commitment on we get to moving that So

William Velmer

been out a put communication. of tell you're want I in XG it's such don't And for to lost. for stocks we press quarter get you maybe three kind waiting and likely mean, out you I some profitability, occasionally to companies. think Lastly, lost. an from the competition mean, the release, is mean, us to of people get for exciting instead it's we've and what's and going on. you three there buy don't waiting waiting lot for here of three And answer. I mean, be for hearing won't There's I area for years, of I in most months. months, end.

to I now. pound drum need the think you

So thank you Thank very you. much for my answering question.

Operator

We’ll go next M to Kurt Henning. Caramanidis with Carl

Kurt Caramanidis

guys, Hi, taking thanks for call. my

try color were to more what you Just saying. get a little on

breakeven seeing you're do of are turning something June, cash Where out By flow investors kind You see like see probably positive? May, April, that? flow monthly in what of do cash you mid-year based kind basis. on mapped sounds have wondering, it you like a or that on probably

Joe Hart

in plan third is quarter for our and quarter, start but the direction in there the in it I not it's be fourth that's current It's that in hard quarter. projection. to -- turning the mean, current

Kurt Caramanidis

insider see you at kind confidence with, in go or in is thing and stepping with confidence? levels the where team to that to any show any your forward the of board at do all coming Okay, these business on buying management management idea stock

Joe Hart

I a suggestion. it's think great

We price here It's haven't but unfortunately, discussion management time a had it it great team, that amongst with building the where a to that. certainly consider a is. with It's is. it share where in ourselves

up take we'll here suggestion with. your hand So and in what come see we

Operator

will We Private to next go Culverwell, Investor Edward

Unidentified Analyst

got -- can shares when Yes. mean, I And volume, some you've possibly I the the This the there, in or comment get outstanding. groups day. explanation connection got or can't the imagine stock you some mutual day one to must Culverwell. you trading volume a almost Can can't make be understand have actually one are shock. there traded you've whole of the funds, I that institutions? XX is quite to somebody million more than on other Ed it's I these on onus how like that's-- people company

Joe Hart

mean, side to was is years you're going this day. two million last algorithms all $X was some start hell trading the a last any or It's now. some business around three of thinks there. or Ed, of trends some day or and based some a I logical recent day explanation you no the investment million There something the everybody And business I houses Hi, there's, and breaks loose. they secret kind Joe. else firms growth anything that to get news know or in Those oddity over Yes. a our for the on days. couple few times more these think like the And call and have other that some advanced people the days, triggered been it $X explain of The that over strictly million years an are that in trying to and activity was $XX happened don't us -- on explanation there's but there's trigger market probably real big

Unidentified Analyst

but XX Well, I’ll mean gone in mean, interested through the see the you up, sure, I roof. million be this yes, have hearing would I shares, go that normally but price

Brett Maas

it's very Brett, is the shares, right? algorithmic the rapidly, They're flipping very hands rapidly. shares trading, forth, just just back flipping and advent This people change of same shares

of of So the shareholders trading a management. now doing little this volume. term longer is we we and positive and shares trading start keep and that world down unfortunately, right? But The there's in, audience liquidity, settles within accumulate and I their the shareholders watching the what's algorithmic results, this results longer to mean, see the and bit. term an stock it that's world they buy the live hopefully

Unidentified Analyst

I in maybe, look talking but this, be that someone by looks takes the Is there if been self-registrations that time at you a as – When you're about raised particular reflected out money. million there this? raising XX would they're privately at it any know affected

Joe Hart

an SX about Yes, has we, two registration of left years still $X.X I have we million now. mean, capacity it. that's about old active still That in

for care And we with in point, of some We company. very still like and so. while, issue price our would in it performance other We total there. price use current but itself update there, the it's focus releases, a share the won't is on active then been at be our like why website, good of the share basic have active believe from it not on profitability marketing but probably to it the at that's will improving more along presentation take press and suggestions,

Unidentified Analyst

idea and in about is. there's in potential I the second mean, certainly the out so people going telling positive the I people there I'm much story company. say nature to aware of of such what see in and about publicity talking I'm a out giving the XG aren't opportunity the slack, even book not talking hustle your

do. be there’s small stock. You the time people all are to shorts of you get move float wait then trying hopefully. happen had looks try have mean then don't isn't a profitable, be $X. when really the have they buy in reflected you things like lower last one they and door, would get so everybody's this they very position, And turned Is profitability, rather got when quarter going other to people it to to and the as a to will to level of short a will It a show going when -- ran sudden there through to stock the

Joe Hart

Thank Ed. you, Agree.

Operator

go Private next will George Investor. Gasper, We to

Unidentified Analyst

of what to all obviously, that, Were on saw took some insisting that? been work? aircraft or and is doesn't that level? issue towers airlines regarding And can you that communications I you're And your and Yes. dig like describe and having working? to your you When back that this explain the up in the airports be require from closed the temporarily nationally on particular any Can work? XG the or like landing. required areas, done can get ground do it in were into off problems this crews? Good you place to morning, these around That for everyone. to airports, it's close

Joe Hart

read, from ago of radios we path a know aircraft I the block off a spectrum have either can some this installing that the It on. FCC. altimeters is year going C-Band of with was little and airports the I But what within think the a I to They installed on as AT&T the towers they that radios matter any event Verizon actually it's on new turned it's, really of C-Band and those They spectrum. the they And to And have related the hadn't by types, by all and directly not the then that more FAA. hold all. asked either to were involved in any auctioned were agreed. since explain about they've glide they so affects not than outside and agreed specifically It's then year. paths. to spectrum glide to been redeploy

it's whatsoever. the a new And I once continue business deploy both Or simply issue. altimeters. I to turn of on our actually so companies those But mean some and trying it engage the all ability affected the years, couple but giving meantime, on it in path. AT&T radios think matter is glide replace the aircraft and and to hasn't chance US. a both it manufacturing the those for to off done aircraft And the radios they that the won't upgrade adjust they're that it to have And technology on all Verizon in be that industry an the aircraft just spectrum. over not over technology next get to

Unidentified Analyst

right. you question for Thank and all Okay, answer. that

the is crew development. The Okay. next one on

You crew indicated level. that you're at XX

where's that crews September? fiscal target has developed? how crews can was the you in-house And us and total are Now, of how say -- in-house us the crews? And outside XX? year and of your since crews of -- a Let's can the inside tell how last you in close comparison what's upside your and many do give

Joe Hart

in I then we'll year-over-year threshold density after, year, double and business Yes, the accordingly, expanding count to be with I the I target, geographically, or say as have improving real following no within both George, the or if carriers guess far geographies. existing say this would maximum year work year continues crew next upside as the the I'll

hit the And head, in seconds to we count geographic delays, are are back in there up hit our crew So small turned have total and we weeks talking everything I'm right? I either crew and weather delays, backlog, as completely about. far match in little don't any bit a might a match permitting on gets down where or my budget or as then we where some plans, limit the count, area

XX, daily mid-XXs we it probably basis. were the on say last call. we're a I we track in it running but I the So because I at probably know on mean, quarterly

crews, far internal three at to for as sitting subcontractor ratio believed the probably to As about subcontractor in at crews. to decades we're crews of I one crews moment have in-house ebbs flows technicians the house. of strategy having buffer and crews your you're becomes then subcontractor in bigger insurance that the against And base policy a of and the and of work.

So happy we're retaining as out a at. we're West labor quite resources. it's It recruiting with constantly tight there Wild is as very where and We're the very market. far recruiting and valuable crew

day full job. time every a every So that It’s we work week.

where we're count. now with with at So of we're crew happy right kind

Unidentified Analyst

And from stream is what indication weekly, much total? revenue us much any away you give or off, your interesting. giving is on us do towers? towers? the there you a actual some percentage is the that's Okay, how that daily And can work of Is of versus way how of

Joe Hart

the would Well, it as site. all describe I on cell it's

site. the the an within for it's So the And existing about on XX% fence new work, of the is case line example, which in of civil dish It's cell ground. installations.

a ground. bring -- we we for feet To mount and off their trenching the it's the cabinets above it can couple power we platforms, ground, so fiber cables. cabinets over cables optic build have radio to conduit So for radio

site, of site to work to is about civil tower carrier carrier. And work and scope XX% work can and so vary of that on probably from the is that probably XX%

Unidentified Analyst

a Can little a is and on color sure on of to activity Illinois over have and from total in obviously, Southern Okay, the been the and or area you Is your trying how give top you're is basis? us still can important. and you the Michigan to I'm on you describe Nebraska Milwaukee outline Texas, by Minnesota state just go? and state Chicago to Midwest where

Joe Hart

technologies. new upon the to for Yes, they the And it's changing year. are that depending year, year year following built varies prior the the from the carriers deployments and markets

probably but So and we're Midwest to this it about southwest. back migrates, XX% XX% year, about

Unidentified Analyst

is XX% outside and which Midwest saying. XX% you that are

Joe Hart

No, there's about for will yes. year, about Midwest, XX% And that opposite. and It's later shift southwest, the taken year, some Great Lakes the plans XX% area. shape it's in next we that the believe big that

-- we'll shift will probably somewhat. that So

Unidentified Analyst

question Okay. increase like, the believe in Good. All Am in outstanding I shares that? on I it on quarter, right. XXX,XXX. a correct then And was the

Joe Hart

It was XXX,XXX, about yes.

Unidentified Analyst

XXX,XXX.

shares certain those were how a of price? Okay, at many to were distributed they employees? And

Michael Rutledge

those actually during purchased shares the of quarter were the majority at various quarter. during through The points SX the

Joe Hart

of Yes, quite day where that that on charts million. sold back the and And particular annual volume sheer the I and years to a basically just end the basis, of based they went that of off the on at three XX tagged get of because are time, restricted along shares, an offering. so vest shares employees our some any We honestly, volume over stock years three on on for mean, activity. day, performance

but XXX,XXX of large probably year, So like an something shares that. not maybe shares in a in given any number totality it's extra

Unidentified Analyst

I see.

terms and geographically equipment that's of lot congratulating and relates to indicated you've about don't has telco done as have expansion? you this? Do question talking that that hear outside Okay. segment, in going. and course, and your thoughts lack a North in Florida that availability. how and work all it That's this too encouraging. of and mean, remotely and people very Any recent expanding working you people activity through about have and that new new or on warehousing I distribution, of well, the all that And any of experienced Miami, the in quarters, thoughts many And, went it's, equipment, which you in one whole equipment, operation operation today, you building

Michael Rutledge

mean, think the about I It's, and we talk about it all time.

sure, aging. far we're a reviewing that you every have tricky For existing a of constantly inventories business, It's bit quarter, is as hand every inventory on the your quarter. as

and don't comes and in hand we're hands off of we down a left play to we to thing. sell selling buy goes the we it, finding we products sell inventory, trying we're So where can basis flip right on it, then inventory, kind that have refine the the out while existing

temporary we're and global in chain, that of think log I we think global the jam, situation believe supply will a right shortage chip bit eventually considering that we a itself. the

we competitive here XX the fabulous to Our months. new clients in expanded has done just And and new seen fiber, have a sales team last carriers. job access

So situation We tenuous. more want lines. to it's bit at. our the think necessarily And that I product not think what sales stick really good about expanding we're is market with the we a channels,

new or our a So little the situation. right And a see, you we're, product frankly, about product new think, in see I you moment. inventories cautious frankly, cash at investing lot

new So a it's a go of into divert not like and lot can off we've of inventory. stockpile we that got cash

Unidentified Analyst

to money into cash you identify, amount how the mentioned and that place much a last does years of a division again, the this Chymiak the that it Okay, position. ago? My in annual like on at Dave amount basis of come couple that does could you quarterly? point? that sale to is the took on an basis question, coming company Is And of the --

Joe Hart

which was five note year so. public probably a or a Dave had ago Dave year all off that five note, a paid information. year about note full in had Dave and

monies that incoming no there's okay, So former Tulsat. of sale from

Unidentified Analyst

this isn't anything point coming there in that sale? So from at

Joe Hart

No.

Unidentified Analyst’

Okay. All right.

you. Okay, thank

up and on $XX next Appreciate $XX this to see in Finally, this $XXX based months range million could before million, for over to now. in be I drive six you assume all Any the interesting million year did $XX of million to that that? your three from the a It path. comment we would what to that can answers. on And last it. quarter very

Joe Hart

geographies Well, get the it long as certainly we company fits the we strategy we'll can money, make growth can in and and growth take as the of all growth, manageable the we can right. that serve,

Unidentified Analyst

forward Okay. Best to going We're care. here. for rooting real Take success. of luck you a all

Operator

Anthony will Private We Marty's, go Investor. to next

Unidentified Analyst

Hi, good morning.

quarter entire sales Your the for than cap are the market greater this at point.

what's are going in people disappointed clearly So been on.

seen other see the any the I'd about that insider glowingly significantly XXXX, or directors. by we I individuals. two future to by make see one to of very believe, speak at zero in higher buying, buying I is like anything, insider suggestion a company. and You haven't prices since eloquently some

the count And that to some it turnaround forecast, confidence, a confidence, other buying, hand, real. to So, on I show for given to best but zero would a think certainly, all people's to see you trying I success the that of on money, the the I'm insider all be the opportunities, nice would vote again, is convince that way people to buying. of think, insider to see lot hand, one not really be be able

Joe Hart

great that. previous asked of turn a that appreciate as to it's would I and the sight the bit signal kind the just had think it heads the I reminding lost weak timely down our marketplace. that We've sends both company and question to manage this our profitability. say, of yourself of through same use it's investor Yes, a for well. And to of us excuse back I all and we've a the way trying suggestion, and growth

suggestion. So I the appreciate

Unidentified Analyst

showing it his when a company, introduce lot at to up what their the low an it's is, sales they're by whatever getting sales at basis, on time that easier to say, asset basis, same cheap just to significantly. but of the week company insiders, to not current and confidence cheap, company you market going and it, at make able yet your able team, the Yes, to ironic, a, trading call ramp for is hey, as Brett stock like only want the a looks a the sort it stock buying to be XX level, are of and

as as to So insider any lot buying market you case, the company of management. to with go forward confidence of a it in some it going evidence make easier just

Joe Hart

And at you questions. are it. Thank appreciate reminder, this no the time, Yes. further there for we

Joe Hart

All call support, you, we on your for We joining right. Well, appreciate us today. interest. thank the everybody, your appreciate

telco We quarters on nice a are situation. in telco wireless quarters and the company in growth the row. returning clearly a the of get grow trying shown company side. have to We've time been row side deep back this And in now's the the both to to effort and two profitable on focused the a this three business profitability. to It's been

quarters and already. set that's to stage a is our the two that fashion the mission position back solid over us for fiscal And in so in get next XXXX here

you, again operator. your So thank for and you interest. time Thank your

Operator

for you. does participation. conclude your Thank you We thank today's This conference.

ADDvantage Technologies (AEYGQ) 15 Feb 222022 Q1 Earnings call transcript