SMED - Earnings call transcript Q2 2018

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Operator

Greetings and welcome to the Sharps Compliance Inc.

Second Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. to Compliance. host pleasure Relations Belodeau, now Sharps for is introduce Jen your Investor It you. Thank Ms. you Belodeau, begin. may

Jennifer Belodeau

call. you. Thank Good earnings second morning the to Sharps and Compliance fiscal quarter welcome XXXX

Tusa, will the the and while the we Officer; On formal growth questions Diana President will strategies, Officer. Vice financials. Diana our their call Chief Diaz, we remarks, business review today, have the and company’s and company’s Immediately Chief from call following President take Executive Financial David review and will David performance, operations participants.

we other the materially formal documents some Commission. as to As and well are actual These of differ the and release our with factors aware, in These as in or be are this factors we to you risks as at portion from events, future company are are forward-looking Securities that earnings make the statements today. question-and-answer would our to apply outlined results during website found the at uncertainties, as subject presentation sec.gov. cause teleconference. which can Exchange statements These filed and by in well where

ahead, David the with call to So me review. to David. Go turn begin of let over the the that way, out

David Tusa

welcome and earnings quarter conference Jen, to call. morning, Thanks, everyone, fiscal good and second our year XXXX

all in market, in X% year. Manufacturer for Our with billings XX% the billings the billings. this market, and markets served, revenue in Government year increase saw our in of in notably X% was XX% prior in XXXX XX% market, the an in over in second Living all Pharma customer quarterly the And of increase Assisted Professional Retail fiscal of increase, quarter $XX.X solution million, XX% an growth offerings we of the

We also treatment our triple-digit third-party achieved Environmental billings. in growth

we billings. XX% in offerings, for billings in route-based XX% the the by quarter growth in XX% unused pickup the billings medication business, the of solution mailback-related generated Regarding and

orders, market. retail shot-related including a demand increased experienced the related growing medication market gains significant as Our for pharmacy well our to flu in Retail solutions, MedSafe unused as the

Additionally, our Texas. our growth generated to related in facility services at business triple-digit Environmental third-party treatment

growth, As second our we added a treatment the of in facility to Pennsylvania. result shift volume a

is expenses resulted the development long-term were quarter basis Gross that were second in as in quarter. Texas. a for also Pennsylvania our shift gross staff, through with margins costs onetime by margins adversely impacted onboarding gross training both the of $XXX,XXX by some we about in positive about margin XXX of a worked items associated reduced bit repair associated The which compressed margins facilities – new The and and cost in unplanned and costs these maintenance with treatment points. and

a second net the versus Second or income of share of loss $XXX,XXX, a quarter was quarter $X.XX $X.XX or in loss $XXX,XXX, the year. prior share a

go services bit we it to the into some Now I want as regarding through you, before focus a color more specifics over provide our Diana strategic financials. But on will I move to turn to effect company transformation mailback comprehensive of in a the of a balance We multiple began markets. ago couple of the provider a services of years provider multiple the from to of XXXX.

we now route-based both waste medical pickup customers. So services to mailback our provide and

increased more has mailback service XX non-controlled short management controlled XX% is two, We to based unused mailback, route-based that, we combination now even the believe that both needs percentage pickup solutions a expect we we route-based unused provide our be a note many overall medications. the to to and the customers’ markets, to to medication This it or accept and solution, to our of or to competitive this increase. and enable that should is diversified country we period and capture a medication to of important with served that ability a share. the us entire provide in also which target continue and it’s generator offering small states, of now a time, offering. our on route-based relatively medium-quantity advantage of market our market XX% in our management market. We proving With solutions. And billings And about population with

positive to unused solutions solution of growing underway our with of related from consolidated We our billings medication during the chain, growth, and see safe for of solutions out Now is TakeAway and March pharmacy painkillers MedSafe from And impact we’re second disposal envelopes grew overall medication the launch represented over the other year XX% in XXXX. the our quarter. and national retail expect this revenue percentage System for XXXX and revenue. our unused opioid, recognition medications XX% major of unused unused growing. Medication we the management further and MedSafe medication to designed well roll quarter from Recovery a to calendar Market see

proper U.S. opioid component medications crisis, be We customers unused very to convenient of disposal addressing the to of with important ongoing available disposal problem unused the an abuse believe and drug poisonings. making be cost-effective As accidental in contends to we believe important. of the medications and

beat also one consistent quarter quarter. March opportunity is for the should believe revenue gross consensus the third see strong all to has estimates for our $X.X the Retail, estimate to related the weak, where with management margin from customer about of March expect medication we analyst our believe unused quarter to the have last while impacted XX% we million. our solutions. thing, XXXX positively been in the revenue March And continued billings in the quarter should be growth see growth to historically range. billings for We we this more markets, So And XXXX XX% particularly March quarter we in including levels

in over detail. turn it who will I’ll Now more bit to cover the financials Diana just a

Diana Diaz

Thank you, David.

of startup for year. sales was in XX% facilities, expense quarter related quarter to XX% second and costs of impacted million to XX% or million, $X.X margin with expenses second last to the maintenance of Pennsylvania the as repair this the million, our $XX.X shift of the quarter from second year associated the and gross margin decreased treatment SG&A Second last $X.X well unplanned XXXX XX%, by year of million, as $X.X the with compared or XX% Texas in gross revenue the as compared fiscal of in a increased of quarter of plant. to year. margin down launch as sales, at including second Pennsylvania both in to costs plants, last quarter Gross

$XXX,XXX, loss the for quarter the of the quarter loss $XXX,XXX The second fiscal diluted net per second and $XXX,XXX March of this to $XXX,XXX of the in XXXX, same or be $X.X of compared in in of the income diluted and share $X.X of operating in Sharps’ of We to compared net a of The XXXX. year. or income fiscal basic per the a million. company to expect of SG&A period share reported in million compared the quarter, achieved quarter year. operating $X million last range XXXX $X.XX in last with loss second of EBITDA reported $X.XX only second of as company $XXX,XXX, quarter of an EBITDA quarter basic to

Health increased Pharmaceutical and $X.X second increased Looking increased billings achieved MedSafe; XXXX, million, key customer and for to billings builds; Home reflecting XX% of timing billings XX% company to $X.X X% and million to billings increased quarter million. billings Manufacturer to of Assisted billings the Care the X% at to Retail to to $XXX,XXX. flu million; increased XX% inventory $XXX,XXX; Living Professional comparisons million; $X.X fiscal Market billings $X.X shot-related increased revenue due billings for the of $XX.X for orders the X% increased Government

Looking at comparisons for the customer to the and revenue fiscal million to million. first six XXXX, X% months $XX.X X% $XX.X increased increased billings key of

to XX% inventory period, to Fiscal was share margin Professional to in a $X.X Pharmaceutical billings $XXX,XXX million; initiatives year. includes XX% billings Market for year Government prior the gross second the million last $X to quarter to XXXX Pharmaceutical per with $X.X Living fiscal a $X the million, basis, acquisition-related first to to X% was XX%, Manufacturer Without On XX% XXXX expense billings to the last first launched the XX-month million the year. year. period, of of months compared to $X trailing XXXX, income to we impact increased that consistent per billings six $XXX,XXX, fiscal and million; of cost first-half reduced XX% the loss increased timing first-half Retail savings acquisition-related and $X.X of of with billings increased was months by is share, increased or first-half last million; billings year-to-date compared $X.XX fiscal for costs, for the current diluted of a six of or manufacturer XXXX. diluted market million. builds; increased which Home fiscal loss in increased first-half these due SG&A which $X.XX XXXX. and year-to-date Care in this Net billings $X.X X% Health X% $X.X Assisted of decreased X%, the X% costs. basic compared million; of SG&A reflects of a net decreased basic of the the of SG&A For

adjusted non-GAAP those company in Excluding reported the diluted loss $X.XX $XXX,XXX of basis, $X.X on of first-half the net a per about or of an million, XXXX. expenses acquisition-related share loss

call capital million. XX, remains XXXX And that, at $X.X $XX.X solid with turn December million David. the of with and over back to balance sheet cash I’ll Our cash working equivalents and of

David Tusa

Right, just Operator, to we don’t thanks, go ahead the go straight Q&A. why Diana. and

it questions, please. up open for So

Operator

and question-and-answer Please now be Craig-Hallum. Our line comes Ladies you. first Instructions] [Operator the with gentlemen, your will we session Hewitt Thank question. from a Matt from of proceed conducting question

Matt Hewitt

you Good thank questions. morning our and for taking

David Tusa

Good morning, Matt.

Matt Hewitt

curious you Retail mid questions customer quarter. of talked about has year second know very I’m calendar last strong a year. that been obviously, strong, obviously the leaving the we a but Couple flu segment, regarding had And

customers so that surprise. existing was of up the or little And there else because something is into the this a season, quarter? Is ramping flu this popped bit this a of

David Tusa

[ph] take.] [Diana, you can

Diana Diaz

and orders existing was it’s timing This the coming flu I the lot popping think a in. of up, customers so

million on XX-month the – with we’re our customer. customers, So flat, $X loss existing basis on down about compared a the of trailing but based

it’s So really, timing. think I

Matt Hewitt

Got then it. – go And ahead.

Diana Diaz

have our solutions the unused quarter for did Retail We increase some medication in the market. in

Matt Hewitt

third And we medication quarters? next quarter, now will affect perspective, the – in there side, customer unused of that follow-up. at With from will on to that about the it’s that how a be new stocking be with modeling or couple least, period the a should the thinking well going this for period be

David Tusa

the Well, unused about all, the talk first quarter. of medication let’s for

the the Assisted As Retail, Living. our and really Retail the excited which as It we’re impacted. was of just related mentioned, impacts is, medication Diana Professional, sector in markets. about Government about billings quarter many There impacts XXX,XXX unused of positively unused to was Retail medication positively

unused for Matt, So the we medication. million about generated quarter, $X.X in December

in go can’t medications a Retail I about – sector. other say that, quarter I’ll a we quite the as even did the the December And the the quarter. much March be will million a than new in that of $X detail think So in think program, And by just do maybe March $X.X than bit into March we higher as to million quarter. positively lot we March we quarter, the unused the impacted in opportunity have

Matt Hewitt

That’s fantastic.

up a bit, gears already, shift addition the to you’re picking you shifting your and seeing that a of pretty you’re Is want of that to it? or channel, with billings something demand that ahead then that’s little at And going orders that imply or gives already a be where would the second you strong seeing therefore is facility sense something the be that demand. within you’re obviously, that that getting Okay.

David Tusa

get I’m more sorry, didn’t Matt. please? I that, One time quite

Matt Hewitt

sorry. Oh, I’m

a you you’re second up the result shift seeing, quarters already that you’re channel, that shift something it second need that that that for else ahead? at demand believe the you picking of added you’ve in anticipation With something facility, that of that or leads the is or the maybe demand is

David Tusa

send things. finally the great no, we’re delay. getting or the that also had back couple regarding next a But The It’s it’s volume Sure, have. One, that’s associated there’s in no them a the with after just bit of customers, volume. a Pennsylvania we quite mailbacks we our day It’s question. a don’t come �� to that mailbacks. a demand of the all existing

The year had And to they’re as – than XX% higher in you of twice almost December volume plant an I about the plant the quarter, Pennsylvania right idea, to sequential on, give the so the in quarter. here. prior Pennsylvania quarter the the December hold it just XX% and

both. it’s So

place as We’re to revenue also for up some looking shift the treatment mix well, at become as in have doing which second third-party third-party Pennsylvania in the that some in will forward-looking treatment.

Matt Hewitt

color me in or then that maintenance, one could that queue. that item? last Any is then front? unexpected a you back The And and one-time one just you. Thank was result Great. for on hop the provide that

David Tusa

it was think it and We it it’s – We think was won’t… unplanned. was unplanned hopefully one-time,

Diana Diaz

resolved been It’s

David Tusa

It’s resolved. been won’t been resolved, going we that And forward. see absolutely hopefully,

Matt Hewitt

Okay, great. Thank you.

Operator

Our with your Munda next Joe line First question. Please from the of comes from question proceed Analysis.

Joseph Munda

good and Diana. hear Hey, okay? Can morning, me, David you

David Tusa

Hey, Joe, good morning.

Diana Diaz

morning. Good

Joseph Munda

to good quarter business, I’d another like on touch route-based growth. XX% pickup the here,

as is goal upstream? geographies businesses, some had to it far would curious, penetration expanding color multi-facilities guys generating penetrate pickup, your is I you are David, that deeper this, there or the Just know, sort new be as been always these it accounts of as moving great? are

David Tusa

was XX,XXX side, And have customers Good on I question, think, definitely It’s we’re – to up route-based now. customers we the Joe. over more

Diana Diaz

Correct.

David Tusa

which up And significantly. is

mentioned, selling closing you the whether it’s folks that deals field yes, And deals. on route-based regional whether more it’s customers focused typical or business our just to or They’re local more with deals what just inside it’s outside it areas. new it’s are multi-state correct. you’re of sales respect our sales So or

Joseph Munda

you sales look field point? and force can remind the what this at inside And does us like

David Tusa

got that, Diana, Exactly, you’ve right?

Diana Diaz

salespeople, at sales do. we’re of X support up employees We field are and made I today, XX regulatory inside personnel. that – salespeople six and Yes, XX

Joseph Munda

this, David, other I portfolio, deal deal. to to bit more with an the said, have ability is like your Okay. switching or it Retail you the chain? exclusive? exclusive here, Do And pharmacy offer little in a Is this the gears out customers then on that

David Tusa

right, Well, being to sell long-term to from not the sell deal. many sell only us an in we the throughout whoever markets, retail hospitals, but pharmacies markets, care, I it’s we doesn’t mean, to. MedSafe prohibit able want pharmacy, exclusive professional and to it

Joseph Munda

to saying No. another it pharmacy prohibit What is, chain? from it does selling I’m retail you

David Tusa

No.

Joseph Munda

Okay.

it essentially? So behalf of on chain pharmacy you’re white-labeling this

David Tusa

Right.

Joseph Munda

you have willing to And could growth, quarterly talked for about as too $X.X guys you million question can sequential then vest or out the last March as But get quarter hop think in back you the Okay, you the saying, there? think? much is okay. I’ll quarter, I David, queue. are and the consensus March in go you that you far

David Tusa

XXXX. at the I think revenue we the at And it be did that, March activity able quarter on quarter March way look – is with I that generate year, that last – think that we than maybe higher the $X.X I we last for did going in about the for million all or we have to revenue that we what growth this revenue should did quarter. of

did year-over-year So could or level quarter be that the December quarter March higher. we increase at the XX% in and maybe hopefully

Joseph Munda

Okay. Thank you.

Operator

Steinke your with question question. line Our Kevin of Barrington next from the from comes Please proceed Research.

Kevin Steinke

good Hi, morning.

in retail this quarter, next outlook? $X.X the Just about the chain, pharmacy coming on factors confidence being million-plus with might following what up commentary revenue that play in third confidence confidence the just or the is mostly from in into roll that other out MedSafe quarter’s

David Tusa

growth you all markets as transformation all a business And on the and And numbers, offerings. of one the our the December see just that’s for into our the of the not impetus that’s focused Kevin, the saw March we’re in and we – in downturn in of evolving reasons the company. solution the flu of company quarter. with Well,

deal. particular more So and than MedSafe no, the much one I it’s just think

all we’ll the we so in introduce meaning that being of of one offerings. all to years impacted new we’ve and made serve multiple think business, flu changes offerings the last that by the growth business. I solution adversely over result have markets the the to see It’s into couple of that see of – and a opportunity again we the in markets not

Kevin Steinke

that seeing speaking the to little combined comments think your Okay, or advantage combination in you And that’s it’s transformation to of the further, you competitive mailback great. continue you noted of in a terms unused company – out about have prepared what of advantage services, approach the menu you that this competitive in and a and how is you’re playing route-based any don’t examples cite know, customers? Can new med. the of as marketplace I

David Tusa

extremely to see the from don’t it’s well. customers think I’ve In the prospects, necessarily with want I working one solve like problems their multiple and worked the healthcare we company they and what in healthcare. they Already, vendors.

we’re larger in more deals of the most seeing in we’ll we’re the some is big the some of opportunities a lot that provide on healthcare problem mailbacks, most And the – setting. from medications. So or of which closing, then deals unused we’ll with also route-based hazardous the help pickup so waste, waste, maybe medical the a

I’m I both could disposal we just DEA of registrants’ in couple that we then for a in waste, looking have hazardous tell proposals then unused of So substances. just have and maybe last And a pickup, medications. place, medical go a registrants mailback and you, it’s a when and also the we controlled at waste, pail or

on focused definitely it’s into multiple it’s I quite think and working multiple we’re – So actually well. markets services

Kevin Steinke

helpful. that’s Okay,

the gross ramp-up all-in provided maintenance margin unplanned You that and there to commentary repair of and the costs. on the of of $XXX,XXX Was some additional both shift? the second related

David Tusa

Yes, that was of number. the that vast majority

Kevin Steinke

you going we third XX% talked kind XX% think to $XX or a level normalized revenue a about still revenue, Is million of million $XX sense of to gross the XX% quarter, at a to decent trying forward? maybe a it, was I’m forward? certain number to You at to margin And get XX% Okay. going about that should had way just frame of that mentioned

David Tusa

No, I sense. that Right. makes think that’s –

we’re gross levels. margin those I comfortable at think that

Kevin Steinke

Okay.

at look there line? it customers in the opportunities acquisition the business. service here, pickup route-based the is to good continuing of you route-based new sounds lastly, in also pipeline Just Are like out

David Tusa

are. We

candidates. We continue acquisition to look at

side. areas look We route-based expansion to on expanded at well. as the continue We

Northeast. the in We’re

and be Southeast,. it’s to did to We’re opportunities. extremely difficult and you the expanded a want into discussions we number opportunistic to in at but the own. if to have But candidates, our of acquisition and we a that with reason we continue organically definitely – seller continue and have predict just happen, they have to have that happen. sell. to look Louisiana has – And But when may we’re acquisition but to at Texas on just looking

Kevin Steinke

my Okay, Thanks questions. taking for fair enough.

David Tusa

You bet.

Operator

Instructions] Brian [Operator line of with your next with comes from Stifel. the Please Our proceed question Butler question.

Brian Butler

been couple have answered, my a of Most morning. questions but follow-ups. got I Good of

David Tusa

Sure.

Brian Butler

On disposal or And we sustainable, how should what’s of the that kind services about think environmental behind here? going that? is third-party that that forward

David Tusa

project- were these they’re it’s activity Well, the were we And where was – based. had sensitive in Harvey incinerated. that of that needed to related activity, – documents and materials related lot be there to Hurricane a quarter

So that’s be may that at a it on that jump it, lumpy. level but there’s that project when And same the it’s we why next not in we quarter. have

Brian Butler

of kind base think a there going is it – as to about Is swing from it could level or really that, to $XXX,XXX to that swing $XXX,XXX?

David Tusa

the can. up I could mean, it then $XXX,XXX. $XXX,XXX and think, be yes, it back quarter be next $XXX,XXX or to in I could it potentially

as some and that $XXX,XXX sure third-party as Pennsylvania, processing some to introduce is point been may at to that far, third-party making a now the I where we’re – that at think efficient We’ve in going we’re do on Pennsylvania and are to help quarter been of do possible. and so our our more start waste customers’ we’ve plant it number. so We well. focused treatment that as to help going But reluctant that will running because plant

Brian Butler

quarter? the the flu Okay. much contribution was flu a how on And of business second the in then shot,

Diana Diaz

business million. quarter flu this was The $X.X

Brian Butler

XXXX? it what of quarter second Versus, was

Diana Diaz

$X.X million.

Brian Butler

demand weeks going And three first here? look the of kind January how does of into

David Tusa

do the The it’s and we’ll tell. It’s healthcare give It’s – early. to what have epidemic to the flu But that too and to that you never professionals is have in It’s late CDC advising. good news see. others with a really early quite flu now. just shot

do last I the flu predict tell, too is I want to thing the business. early think it’s to and

Brian Butler

Yes.

that and the for about growth Okay. growth in to positive I’m revenues And pharmaceutical kind trying second-half was little And update? some in It at XXXX. see a just year-over-year of of like our last currently had XX% what the maybe a rate look growth past you the some for you does Can XXXX? you then half mean, – in the on kind I had down of to have business, to this give versus talked you’d point, the to pipeline the XX% expectations hit what number. second understand internally closer quarter.

David Tusa

everything you at And on a XX Well, the on XX%. trailing at it’s again, look we business XX, basis. pharma up trailing look a if

So the you in, bulk because we orders it, They they quarter don’t so in. of come the how are that’s come orders the that kind necessarily lumpy in measure in when and come expect.

think that in So with kind the trailing consistent going XX% see trailing the roughly I expectations of of increase the forward. XX XX% is we XX kind our

Brian Butler

quarter X.X%. it’s Well, last negative Okay. tough, the trailing XX because was a

So a on lumpy. very mean, trailing to even be I XX, it appears

So still on support of the pipeline reasonable based it seems – still a but program, patient XX% is output? –

David Tusa

our That’s expectations are, what what goals correct. our are. That’s

Brian Butler

use Okay. of that And MedSafe benefit recurring you one-time in – liners/the unused mailbacks? kind much that all you much how can of or on kind the all replacement was new was break this MedSafe had versus how at down sales medication right, installations between quarter, $XXX,XXX the

David Tusa

again, a as just at reordering you can I of those be. about year. new Brian. excited and customers. positive, the we’re about of envelopes think about as as $XXX,XXX the activity was the think increased for mixture look of was for the as and And when really what’s the $XXX,XXX it don’t it’s sales, all, specifics the MedSafe I It’s well was between prior have liners. But MedSafe talk unused to that and the We is MedSafe. both two. quarter envelope It’s it about $XXX,XXX best of the way $XXX,XXX medication And versus solutions that

we ago, in long ago, where that only the not A this we designed think had about this boardroom with out successful. you it’s And look the customers. we’re been too in Houston offering here quite if in XX, at current and We’re year XXXX, out years ago, XXX just the you we so – December X,XXX. if few at over quarter, were a or look

We is that’s September only the So quarter, going last the – In continue X,XXX think to quarter MedSafe. important. to it that increase. was number quarter, the about

we’re So excited.

yes, We’re replacement customers both as, new the from ordering well liners. existing seeing growth customers as

Brian Butler

And That’s mailbacks positive. via good that to kind right. hear. the – that then through mailbacks, the as you billings, of they mean, the large or All Government side? I selling well fact that Is most is are was going are of the Retail

David Tusa

Are you TakeAway the talking about envelopes?

Brian Butler

The envelopes? TakeAway envelopes? Yes, unused medication TakeAway

David Tusa

do Government, on what Yes. roughly the it’s doing with is – what quarter a We envelopes. it’s about it XXX,XXX we’re those

Diana Diaz

Right.

David Tusa

Brian, Government were the the $XXX,XXX have then that So, TakeAway on of if we would been about up envelopes deal. XXX,XXX

Brian Butler

then And one. one Okay. last just

On to just quarter that going fourth roll the a that well? primarily the out into be large or is quarter new MedSafe customer, Retail third as rolling for is event,

David Tusa

We going the – respect about in think we our excited little the this confidentiality agreements quarter. a impact they’re saw launching. bit we customers to program have December you we’re with And really of and

think going can to a the the more affect I But going you’re maybe again, just we that March out And I are then we quarter, positively see to focused roll talk it’s bit on significant completing March and impact after think quarter. quarter. on in that. our March a

Brian Butler

very you much. Thank great. Okay,

Operator

the First from with line question. is question is a question live. Joe follow-up Analysis. proceed your Joe Munda Please with your Munda, Our of line next

Joseph Munda

me? hear you can Hi,

Diana Diaz

Yes.

David Tusa

Joe. you, hear can we Yes,

Joseph Munda

had you mute. on Sorry, I

portion regards roll to that should it liner to revenue. begin laying how in about business of guess, follow-up almost mean, I the question out. we a think I to you’re revenue to on roll Brian’s out? as the of be top it going – Just you

a quarter see You how up I to back the continue that revenue roll going MedSafe it that you here. at Retail look a should business stairstep behind should you liner we up on along the – guess, business? we – basis? put this the flu a Is the on nice it? just basis of sequential I in out out how So with the shaping recurring because of of see, how sequential business Are do guess, if Retail to the

David Tusa

related this let’s of be. But throughout March rolled could I recurring And is have of revenue liner out that, But to idea market. get is, we’ll MedSafe first that about. a sure, It’s the country. result think, better be themselves. MedSafe the way I yes, much quarter. the Retail careful all what like to quarter result a retail a into it’s of recurring But I’d the the in the mean, you’ll what ultimately, stream the the with The just we’re a the replacement then, liners. to we is roll the the market, the – the I What as pickup MedSafe all of need March the Retail comes think that’s And And liners. I a it do, the Well, because at than look more in great out MedSafe solution. really selling revenue in primarily serving see to generate of want MedSafe that’s pharmacy with really

get out of like too So this how rolls quarter so I’d really see before kind really another to or granular. we

Joseph Munda

Okay, fair enough. Thank you.

David Tusa

Joe. Thanks,

Operator

to no for management closing I’d to call back questions other in like comments. over are There the hand queue

David Tusa

continued you to we Right. next your And We Thank in for quarter. to talking support. your call. everyone forward participation Thank appreciate you you. look

Operator

conclude conference. Ladies and you gentlemen participation. this does your today’s Thank for

You at day. a may time, and disconnect wonderful have this your lines

Sharps Compliance (SMED) 23 Jan 182018 Q2 Earnings call transcript