IIN - Earnings call transcript Q1 2018

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, everyone, and welcome to the IntriCon First Quarter 2018 Results Conference Call. Today's conference is being recorded. And at this time, I would like to turn the conference over to Scott Longval, Chief Financial Officer. Please go ahead, sir.

Scott Longval

Thank you, Operator.

call Gorder, today's CEO. on me is IntriCon's Mark Joining

statements. our like the conference Before management based and forward-looking and of I'd to in and preface current call statements remarks estimates on certain are Today's we begin, IntriCon's statement. circumstances. to with assumptions are harbor customary contains uncertainty subject These changes safe

today's headings that Analysis filing materially Given statements. quarter. Actual forward-looking cause for look at these on results from for expectations include, and those reliance and the like XXXX. these among uncertainties, Risk XX-K ended a factors of strategic year you I'd the set undue Factors Mark XX, should call. contained differences December such forth in Management's may could of not financial vary Important introduce first place the our others, IntriCon's results With Discussion operations and that, condition under to

Mark Gorder

made direct-to-end-consumer revenue value-based period. front. and manufacturing health from conjunction with largest hearing medical In Scott, to IntriCon's of more to After expanded By had record growth today. will most everyone, then and first growth, time, quarter. progress the and for indirect-to-end-consumer that, in technology Thank reviewing hearing the you, the take on your bottom chance health results net we our reported million, strong we'll $XX.X have the and this of top value-based us up review Gains company performance. sales prior and in financials release. by customer XX.X% million a businesses highlights our begin quarter first the the from footprint cover press year you joining thank for line you, like $XX.X detail, Scott would in drove and questions. and The I key

Medtronic's the first from MiniMed the first gain Looking business of three XX.X% monitoring glucose systems ongoing driven was wireless accessories primarily by at year that quarter in the XXXX our The businesses, quarter. prior XX.X% production and the related over increased our XXXX medical continuous period. rose

We are and anticipate related positioned system key further components, XXXX. throughout systems, for We Medtronic providing system with well including demand increase sensor CGM the to assembly accessories. XXXX,

customers made invest few million response in last to expanding quarters, commitments capital invested commitments rapid we have to equipment. or in our in medical footprint. key are the medical these manufacturing $X.X in our growth, Over In

the are leased medical assembly in an locations have robotic of also floor XX,XXX accommodate Minnesota systems. near We additional components our feet our of square increasing molding we manufacturing added to space, conjunction with capacity. and space In existing

last the our added The X current During but X not order only for and delivery XXXX. molding of benefit quarters, medical pursue us to that opportunities another enables the to new presses on our presses would robotic demand capacity throughout company positions from us has competencies. and meet XX expansion core

We operational fully be space the in additional mid-XXXX. expect to by

hearing have revenue transparency started provide detail historically. to we our businesses, quarterly health hearing Turning the of To more within than health. providing we greater

legacy and end X OTC. is revenue we as value-based streams: sells hearing our express that nontraditional value-based the is health Specifically, who In from the distinct consumer. to sell customers business out through such indirect-to-end-consumer indirect-to-end-consumer directly value-based Value-based OEM. broken revenue our end have direct-to-consumer models the the contrast, direct-to-end-consumer, our product consumer

the breakout hearing the prior quarter. the space. legacy our hearing drive stated value greater first traditional making flat believe product model. provide we are OEM visibility in year to is Lastly, business into goal will growth for the were health the hearing this Sales health revenue We total in to progress health being sold from

and both flat, XXX.X%, the quarter strong and prior year business growth over sales health sales value-based XX.X% first indirect-to-consumer hearing direct-to-end-consumer were total of Although the respectively. posted

conventional declining increase sales XXX.X%. As body anticipated, the XXX.X% incorrectly as these the today's note we quarter instead channel. offset that release, listed in of indirect-to-end-consumer press the Please gains of first were by

in that However, releases financial correct SEC filing. is figure accompanying our press tables and

We progress HHE. to and optimizing make continue integrating

quarter, X company by inside expanded first infrastructure its hiring During sales salespeople. the the

In delivered took aid IntriCon and each orders aid anticipate net groups has hearing XX% -- growth were we customers first company equity drive a strategic sequential hearing consummated. quarter the in third-party metrics trend since first that October new position continuing aid with These addition, helped in at hearing customers quarter, relationships net XXXX. XXXX, its in quarter in orders. key HHE and efforts new including increase XX% over drive initial a new sequential increase a the throughout

of had and by customer Although higher typically made HHE flat, first because quarter sales new rates we the sequential new majority primarily order than the we were whom experience customers. growth orders, customers in increases return net legacy were net

our to we continue we new higher-than-average As will rates. base, customer existing target to customers build return see

and this build technology our the software HHE into introduce expect new taper we and wireless base We to fitting legacy customer channel. as

of the technology the during a portfolio, hearing our in On securing quarter, German-based continued to self-fitting Soundperience, technology. we key provider ownership build XX% technology front

peripheral most Soundperience being Signison processing hearing German joint as hearing and software training sophisticated psychoacoustic Sentibo market branded IntriCon's in and has the brain today, designed Soundperience. notably the first with Smart used aid Brain through The is self-fitting method hearing of analyzing venture System. central the

microphone, most Lumen wireless the integrating into audio wireless with our which Bluetooth and with creating low-cost IntriCon's X.X We family, product technology, quarter. NXP's in current NxHXXXX intend accessories. health Energy NxHXXXX into self-fitting hearing remote indirect-to-consumer audio to family, the step XXX The By XXX, direct-to-consumer IntriCon's system-on-a-chip. as remote introduce the IntriCon to Smart such the wireless are NXP Lumen features, stream incorporates and high-quality Soundperience X.X our outcome-based is to IntriCon's Lumen power-efficient XXX channels NxHXXXX can company hearing volts, market. can provide aids streaming our is in the XXX industry-leading. to microphones, hearing various the connecting to a only Brain consuming ecosystem. industry's product which technology mA Low poised care Semiconductor's streaming accessories Sentibo wireless to the current wireless launch audio coupled Lumen addition at aids In access critical technologies like Having

Additionally, quality we and software, our productivity adults this intend Shifting first-time improve on customer without hearing access care policy. self-fitting fittings, mild resulting of and made hearing to being to XXXX, moderate is of satisfaction. to the Sentibo aids seen loss Smart which Act by both lower public being Hearing Brain greater channel is which with OTC increased integrate to access Progress with the hearing to Aid designed in a professional. enables prices,

X the comments mid-XXXX. ecosystem self-fitting it discussions issued from hearing when are bill other our health high-quality have legislation cost this regarding government in with the with as was up Warren's move FDA necessary will regulation to in and office we on for software adoption While and a August XXXX we had barriers the signed thus, benefits the reducing care channels, to in stated, take market. low-cost discussions years Furthermore, U.S. and it over based last could in the in draft months, for be Senator our several we through previously can provide believe creating the of

the turn call I'd like to over Scott. Now to

Scott Longval

in detail. quarter reviewing financial Thank first results you, I'll Mark. our more begin by

million For and primarily year-over-year from The prior medical hearing due increase from reported in $XX.X in businesses. gains first year growth the customer quarter, IntriCon's revenue was we health XXXX net of to the sales and the million, the direct-to-end-consumer period. $XX.X value-based largest up XX.X% indirect-to-end-consumer

growth. are of that market opportunities, Mark goal. exciting a this experienced sales hearing we value-based plan refined To focus better the our our on on health opportunities resources strategic support working and health strategy mentioned, a to and value-based As the we on of lot within narrow focus our teams the U.K. distribution hearing

loss You $XXX,XXX expect posted IntriCon loss diluted $X.XX attributed $XXX,XXX share to plan communications. versus for $X.XX quarter. diluted XXXX this attributable a updates on can to or of shareholders the per first income per net or shareholders share future of in net

from gross quarter. year -- quarter stemmed first margins the year primarily from increase were greater up first in First the significantly XX.X% volume. prior profit first The XX.X%,

expenses due the support period. increased investments to initiatives XXXX. growth. drive to key at throughout compared business' first the related trend costs other prior were and largely HHE continue the increase in million to quarter We year expect to advertising $X million $X.X Operating this The was to for

declared Turning This shelf afternoon, highlights. by to option to quarter. the is that filed the will The statement the covered registration first us replaces other our million effective our the SEC, statement we give to it expired of in a XX registration registration statement. and securities up during once shelf sell

it's prudent as-needed corporate support to be growing to shelf of We have under capital the offering more rapidly the have and matter as on no raise and but an we governance registration a business basis. needs, believe statement, plans company our strong us to allows immediate agile available to the

second in to Lastly, Based XXXX information on the $XX.X of quarter the guidance. terms net $XX.X anticipate available, million. and sales range million currently between we

the sales For sales $XXX estimates, $XXX and range we increasing anticipate we're million. to now our year, million to between

your back operator, the like call to over turn the can we I'd to questions. Now so take

Operator

Instructions]. [Operator

D'Silva Riley will Our question first with come from B. Andrew FBR.

Andrew D'Silva

related first revenue. be My question is to to going diabetes

X previously of new discussed starting most driven [indiscernible] time? by the diabetes, assume, at expanded as that market only the is a Guardian your obviously, And market we at growth Or offering is would asked issues And for much the then As point? Connect type than X. opportunity is with opportunity goes, the that this behind that only type far you reason MiniMed? into us I components, capacity are being to because larger or Guardian I is this

Scott Longval

the Appreciate Andrew, Scott. question -- this is it. Thanks, for Great.

to our diabetes specifically have So sure and to the of customers' we space. earnest meet make are the infrastructure in [indiscernible] needs, in through we get all

first the quarter, capacity capacity have have of are of as needs. to their all or pace end think of and in the we the plans place now to the meet the on So we

products, to get into relates detail. it as Secondly, great the I specific can't

high -- product the You excuse I as or FDA of know be by and that product May in Guardian envision did for that diabetes that overall to And has was the March. a offering. me, their in Medtronic approved Connect part driver hopes significant noted

know them but only can't specifics great going on tell get really come. to I of product. be that's for in can All think I a I XXXX I is the to that years you in the they that driver makeup they're into not about and the So growth know that excited revenue.

Andrew D'Silva

You've discussed, worst, be, that it's substantially best, meaningfully you; assume it out, at you. to to beneficial once at but meaningfully beneficial to rolling that least starts should at fair

Scott Longval

Absolutely.

Andrew D'Silva

as ahead sustainable Okay. And think go that are the we you in segment throughout medical these quarter came what we I away in this as the mean, year? were margins of expect do thinking you about saw margin you forward? Or should take rating XX% into account being onetime benefits something going should for the we achievable gross that any the quarter. Were that really here? there was we

Scott Longval

in And to had been Well, leverage something jump. in gross think beyond. for be at as We will there of we only hard future is our but that time that the the XXXX cost I very quarter. in brought for the the quite like to I working support margin really 'XX increase significant of look growth our we get the so position achievable. kind part capacity. adding ourselves on ability margin the that to up balance, some we've mid-XXs to we manufacturing low- talking makeup cost second you the facility. process on incur for We're in think as very we're some some saw that that we'll the in added to Clearly, not new felt that gross and But running, about

Andrew D'Silva

facility? the Okay. is customers, expansion service expanding the you where square the medical service you're have to to of Or this you're as feel the that as foot a and health sales Is with the In well situation new to able hearing capacity a extra actually the now of now to you comments, that have looking relates with need you business initiatives your XX,XXX question you at a you very primarily the just where situation side customers? your facility. manufacturing them it And as both the manufacturing comfortable larger highlighted new and facility last ability customers for business. start existing new

Mark Gorder

head. developing the in have this And and confident And we that largest it's nail not feel that to rapid now is few we Andrew, in others position I and from you very investing relationships. past that start customer our time on Mark. think been new have hit the this growth the We years.

not bidding add do starting is now anticipate we extra before, been into we more engineering to to in new to and so in able sense. as develop aggressive start to great be manpower get some while to that capacity the that to So this And get concepting. have marketplace, additional a opportunity relationship position

space, nothing being there. that an you will there FDA know, as quickly in However, happen is

start though even hold three longer the off that decide at cycle of longer you driving increasing to see we capacity. to revenue. and is it So handle next FDA wait new programs to two it's beyond three going we our to years. in a brought marketing start on doing we you as we're The And these the scaled engineering [indiscernible] add the anything, year most least existing have would we two needs to facility probably anything forming over that, additional to effort, basically

Does we in that facility for your the So already don't know. is answer really sized opportunities I current that question? have place.

Andrew D'Silva

That a my question. of sense. makes does answer That lot

or targeting comfort But -- have you some existing do more you where new actually to a equipment from you get can for comfortable new might up actually opening is add opportunity to feel you standpoint customers. you if as the customers, facilities. So

Mark Gorder

Exactly.

Operator

Block We'll Instructions]. from next Stifel. hear [Operator Jon with

Jonathan Block

then to level, but would if direct could the you Maybe Scott, second at certainly of helpful maybe same high on would the margins, the the bottom. two hearing me. a three. if between you about the just three be be, for ascribe, us could the And part revenues the legacy or magnitude breakout highest believe I different you that the to revenue. businesses? wonder gross sort see hearing rough Mark, just clearly, the where of delta give could question talk three hearing Maybe you

Mark Gorder

the let Scott take in then first step margins. one, those I'll on Jon,

OEM hearing As to to think this grow be the broken and and talked that it this we meaningful. which we've been the categories, you be to selling same value-based the are the be mainly we've business oligopoly in manufacturers going three systems about investing the and mentioned, health in to legacy may new because into the We past able footprint business. components time, At was we decline. knew putting

liken I hour, an freeway miles to we're while about always so XX and got motion. And around we've the the on car -- public going a company changing in change tire this as to the XX,

we the direct-to-consumer we OEM players pie interest doing direct-to-consumer channel. the all that's hurt a have systems So think MDHearing, to that faster we to see other from not to legacy we our efforts but And it's our kind we And because of HHE name a to to what and we grow transition the supplying by sell ourselves direct-to-consumer the decline. then the in business business. them direct-to-consumer Eargo, both continuing like only the business, and channel, best were can the firstSTREET. our in size technology to supplying in that of Relative doesn't way in business, that couple,

and think maybe plateau, point, some farther if it than won't it of it the over what and probably of I want going Scott, is. next probably hits think is indication leave maybe we few a a you decline to but it's we Scott at what to year to this kind to... I'll years. plateau definitely -- that think hit an much give And plateau

Scott Longval

less those the and the Thanks, that and that the and OEM makeup margin Mark. gross margins, In legacy that XX%, as to highest to you business, X of different significantly direct-to-end-consumer XX% business noted, range. regards In then gross generates roughly businesses, roughly indirect-end-to-consumer, XX% between XX%. on XX% between kind

thinking last $X.X $X.X plateauing, looking away revenue OEM to be forward, terms two of you'll million. of to comments, we're number the we that see by could we're I'm about a XXXX, into by to than the moving quarter, did maybe be $X first million gains as that And gross will higher-value indirect-to-end-consumer overall So as and in legacy legacy well. obviously those other the from more million anticipating would at revenue where the that that we that quarter, kind see margins closer in that higher offset roughly but moving segments. warrant strategy from direct-to-end-consumer the Mark's

Jonathan Block

helpful. your [indiscernible] well. then got it, very than margin other businesses also, it, as more those of two to Got offset profile point your And

staying more appreciate a that. aggressive. like I helpful, the then started business, And seems the get Very to side HHE Okay. you maybe it just bit on of little

addition of You six reps. the mentioned sales

You you are can color there? then also more Any rep numbers consummating be relationships. in you can might count give put talked of about that terms there of strategic And for sort term? around right that what longer

Mark Gorder

are doing to get the spend. you we will probably determine sales hire our give do number gotten advertising trying need. -- still call yet, at to target rep customers optimize through the overly to you few fourth us to call dictate fourth we're that we're to yet we in advertising exactly the experiments it how year And people people quarter this because right spend. more very But Well, we we're point, to rep trying the to in work are data-oriented, the aggressive this give center the And think have approach. but the is, see issues relative aggressive yet of see look the spend what I definitely we more is more and still we that We would a that call you'll hard probably on get I we not of number us many aggressive be in hate to for we're more as And advertising, ad need through -- quarter. to ought how what exactly center the our so we more largely of sort we're which targeting. on to to design mix ad spend will for very lot people a optimize that center going count

Jonathan Block

sort as a for behind thing, lot is in put the of I easy going things promise, me, it seems a you just on medical screen but of very sit for and you day, of as like being And -- Okay. mentioned not. the good presses many last far And clearly, in. when it's one very most computer a

you've Mark, past over the adding of X a you believe, So talk can maybe XX lot been capacity, I about months. to

Just the stopped an that? you I getting feel do mid-XXXX. from like you handling operational do And operational? believe good been you how about to company has fully feel standpoint,

Mark Gorder

Good Jon. you, Thank question.

ability done have it's products. were We is, to doubling pressure operations if the The significant capacity you job. significant team a that and phenomenal been and skill they've from think they're high-quality tremendously think, has this has requirements build to for operations I the team. as Medtronic produce list next year, year. And our that announced I perform our it for And a most capable again probably standpoint and sets, doubling they're their

very So growth large well. is it we're the handling there, but

on by The the quarter with We fourth start to equipment start June them the the part with are coming and we I going improvements the comfortable in very leasehold how now, of the team. daily as that in place. progressing. putting work move probably new to We a operational revenue expect very putting towards have we're be out the plant all But in early of think closely actually Right to we'll are of equipment in ordered. quarter. some over end that being there. there June, able by And we we've I in calls that anticipate And think facility, with we're Medtronic. in

think doing all So all, we're well. pretty I in

Operator

go We'll with Billeadeau Partners. next Walrus Scott to

Scott Billeadeau

were if you're wondering capacity certainly But you on give little a questions my could that I'm answered. Most of expanding. the detail

-- there? to do producing of give When there. and sense or you you got is. couple And You've manufacturing assembly from the have customers us X new about Maybe us some when where to Maybe update on -- customer start out of combined? that you $X.X expect selling that? a that some a start do Is molding new do million. before capacity, give can little a start it you you out little of space, that talked

Scott Longval

question, Scott. Good Thanks. Scott. is This

several the medical just customers, lot activity the and we press but assembly different So lot seeing focused been million we're molding any very as because that's this space. assembly, value-added in of not of $X.X And X release, in customer system types is from of a capital is not it's in noted a this coming on capacity, robotic processes.

we as new the going we're facility. in the Mark come third systems a and new And of the recognizing by closer to outlined, of coming to just quarter, answer be Does of -- the starting believe out the going actually space. we're the over the automation your So We're through revenue of that in have facility. somewhere new into of couple that in to come outfitting question? next these quarters process, by middle lot going presses

Scott Billeadeau

No, Yes. that...

Mark Gorder

more add color Scott. I'll little bit about a that,

basically other -- put these and robotic We focused -- facility. assembly mainly break huge in assembly. we've microelectronics. and Minnesota, on got The medical has from was the plants. have -- with all three one But One molding and here a it customers, manufacturing to into one all these demand on been focused out decided the we've

all So to of going to the molding house Vadnais the added the up is at the put and robotic automation room assembly that business. for plant -- facility in presses. at And over clears Heights molding these systems all that's our medical being

new then the molding systems with of over existing into facility to as plus kind lot facility. it's there. automation major the a And the we're more we reallocation So presses in there add a move of backfilling

So significantly. all increased plants on demand -- three all has the

more So in assembly to facility. new in more microelectronics and we're Hills Heights do molding more robotic going Arden Arden Vadnais in Hills, the here

Scott Billeadeau

to FDA-approved, Great. to approvals And mean, that's different regulatory part you you're you Any another something to a I you get then need? have issues all or? there at blessing if of anything there that do if move it plan? with that, is updates related some doing or

Mark Gorder

That be issues. We absolutely any done. right. has all You're anticipate to don't

of will that have customers execute manner. our with ability impact in FDA year. the rest timely a our working for are that, that those are approvals We completed on to key any to the all sure make And think we diligently don't

at where So we're we're with there. comfortable very

Operator

Goldberg go next with GX. Josh Instructions]. [Operator to We'll

Josh Goldberg

okay. up on it's far, of the if questions some so following Just

diabetes out broke You the medical this other time. and

I that. first I think it was the saw time

I the last nondiabetes For just assume of couple roughly historical to that down flat the measures, has quarters? been

Mark Gorder

correct. That's

Josh Goldberg

Okay. aid the sequential last a orders. had X% And health showing indirect-to-consumer you better hearing in quarter, increase regarding the and direct-to-consumer business, trends, guys hearing

year of direct-to-consumer expect quarter, are growth side. I would But hearing This regulatory-wise segment back that in some half XX%. we're orders. pretty for it growth up that should new first went I to modest assume a on and them it the year to of that have quarter, the on on based I health that know was the that the realize what and strong seeing kind indirect-to-consumer this here year-over-year we as basis. Do ramp segment? the of market-wise

Mark Gorder

had about yourself, want lot not experience. asked One callers fourth to more get that very the a of to important ahead spend of And -- get consumer the until could aggressive you probably generation. because between it's about quarter problems but if prior intend you on that. too don't customer advertising we bad have We get balance far create create you and of lead a a good care me and

advertising. the carefully you'll see going forward year get process. our step in new advertising. more of get now that, orders we're going another the and our XXXX. quarter, we're And in increase generation very as in end by optimize fourth into So function go lead then probably of And that hearing the commensurate take is to aid aggressive plan comfortable more going to to we're we anticipated with trying And the on

at envision we it time. how this that's So

Josh Goldberg

bit on some new Okay. Maybe hundreds for I some segment since valuations getting I of valuations in here. that And millions in little are some getting companies have talk Mark, of you are mean, alone. investors the that background of that know just dollars. a space, a about private

Mark Gorder

in Well, -- you the is capacity from indirect all players that have are about and in of -- have direct manufacturer manufacturing -- you a footprint the consumer. And from the of When lot we other think to in the Asia. the other capital interesting raised point. that way the in don't Minnesota the to infrastructure place an terms raising our model

portfolio this in we building still of we've any later players early don't year In legislation capabilities or we've some that -- as OTC place. care year, money implemented this in effected raising ecosystem being addition, the critical that technology have is the are developed already anticipate that -- these of all those put an next

leader belief strategy. the OTC positioning in technology of we ourselves emerging and we've got we're because in this for manufacturing -- So space doing on plus in a work already we're portfolio channel a footprint our our is the lot that optimizing place

your So pretty revenue good recognition get value there to in compete foothold should And that a I we've good we're gives think we us we position that anybody. the because that with a in forward to created drive space, for as point. go growth to

Josh Goldberg

Okay, great.

you year in well. quarter grow there to seemed March. reason changed has should start and about guess, Just this like for every every based you two more any Is expected got great grow, to talked additional every obviously, think It you me. with going that sequentially, on I some to profit your that, expect first, as quarter, that should probably I off how think you a into forecast? the year, believe you I quarter

Mark Gorder

should trend that, until steady And fourth We the Yes. then agree a to going that on a little gas case. good be we the quarter, the step we're anticipate and bit. that

Josh Goldberg

up. it Ratchet

the mean, of with they're know you where zone of now? terms you of hit -- do sort Have in while you be been supply are Okay. biggest constrained forward? regarding to sort I where they to customer. And any want going they supply? of matching right Or demand sense still comfort they where supply just are they your the for a have with relative And I supply-constrained. have relationship

Scott Longval

on to their We call. the is for tell to Josh, I Thanks, Yes. for can everything can't growth. you I prepared be really we're doing know their that specifically capacity. comment All expectations meet

Josh Goldberg

so to weekly with? with just what that say fair you Would exited differently, run you than hear you the be on a can quarter it said Just entered me. rate them faster

Scott Longval

growth sequential in of would we've in as I that say, forecast that of direction. our general revenue, quarter-over-quarter, laid Yes, that kind our XXXX we're trending out broadly, for

Operator

come next Ryan question will Our Dick Dougherty. with from

Richard Ryan

the late. I call got on

new Sorry But and if NHS now? bucket the health breakout a repeat. the United is fit does this that the into is legacy hearing in --

Scott Longval

business value-based indirect-to-end-consumer. the business. falls And into legacy business the our direct-to-insurance So falls U.K. the into over the NHS OEM in

Richard Ryan

give over can product What of And seeing? there update sort you're seeing kind on you're What an introductions? just of okay. new U.K.? the Okay, with traction you

Mark Gorder

Well, only on down the putting the business And our interested to NHS. it's or NHS to next during that. is we to do selling that track that trying we're there. technology new wireless The where to We're in over quarter hearing anticipate restructure so. very aids

Scott Longval

continue update the group Dick, forward quarter of as we the And on there. move through some plans going the we'll to

Operator

will conclude Mark Gorder, turn closing or any remarks. the today. for question-and-answer our Mr. session conference CEO, That for additional like to back to I'd

Mark Gorder

Thank join headed. you like to you, to we out we time call. are taking of again, your excited Once the appreciate with we're reiterate In I'd the that Operator. day direction closing,

with next unserved and to to meaningful of Look accessible affordable new again medical Americans. our you assets to quarter The channel, to molding solutions was by make developing for drive businesses capacity speaking and revenue, direct-to-consumer medical our of health call. hearing pursue an continue Furthermore, underserved exceptional you expansion forward and quarter. the and hearing joining our businesses. year health The medical to first millions providing positions opportunities. robotic start in progress to the key and build value-based our advancing continue our us driven to or with record growth Thank

Operator

for will participation. Thank that conference. your all you conclude today's Again,

now disconnect. You may

Intricon (IIN) 7 May 182018 Q1 Earnings call transcript