SMED - Earnings call transcript Q3 2018

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Operator

Greetings and welcome to Sharps Compliance Third Quarter Fiscal 2018 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to Jen Belodeau from IMS.

Jennifer Belodeau

to Compliance welcome XXXX quarter and call. earnings morning the third Sharps fiscal Good

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

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

David Tusa

everyone morning Thanks Jen. fiscal third our XXXX quarter welcome Good and earnings to year call. conference

quarter From timing markets. builds therefore, and our billing in XX% was quarter. $XXX,XXX, by Government higher led market for down impacted led standpoint, route-based fiscal $X.X million, or inventory mailback the billings. our the increase with The and Professional, the an solutions Pharma to the the business revenue Manufacturer and third negatively year Our was solutions unused Billings over quarter billings higher XXXX correspondingly year. increase due were of prior of XX% a Retail, medications in

by of will billings in medication solutions unused management total you that As the quarter. represented solution, at XX% see the closer billings we look the

[move generated of XX% past traditional for while generated customer about business over couple XX% of launched by Therefore, solution mailback solution This of cannot our mailback primarily flu larger did total over we resulted grow the generated business. the offerings unpredictable business XX% on quarter us the quarterly billings, our allows base, Nor our route-based seasonal billings were the years. market billings. Our a that of us the to and the regulated mailback strategic device company in alone opportunities medical capture market. what's] recognizing

we business. the recognize accelerate customer can So, and we to management prospective be to that our medical that base waste offerings in rate penetration complimentary existing needed solution sold our

saw we and the unused when at in offerings our the time dispose-off to the properly value rules crisis. solve was help unused include medications expanding to opioid Additionally, for the to medication new looking considering country solutions a management DEA

route-based we online was contract well the our with Health expect And and reasonable mailback and the pickup disappointed billings. closing to additional customer by marketplace. route-based growth terms than where The rate growth We the XX% as we caused while along the good, in and opportunities, on very online in to Health Home going and orders of tools, and expected markets, of position growth combination in Pharma forward Now, business we as were Home multistate this our solutions, lower the and the service, timing in quarterly expected excellent trading, focus increase larger tracking us bills were distributor markets. Manufacturer Care Pharmaceutical moving Care other in the higher market. quarterly billings

program. growth of which A on success seeing already should P&L in be are our progress We this the MedSafe more bit by quarter. the reflected and initiative September

March programs XXst, units. to grow as launch today XXst, XXXX, is XXXX. X,XXX existing end the of units processed at versus rapidly of collection The Our MedSafe base December March XX,XXX number at we this [Indiscernible] XXXX X,XXX today expect and receptacles and installed We ones. at at new increase base X,XXX and about was XXX

launch GAO there so and Additionally, and XXX,XXX over over of we a released since receptacles in recent have $X finally, the done about considering the country pounds report take reported million there about medication. that unused two program medications. inception of When at envelopes, collectors time that the the the of of XX,XXX only revenue said million are -- X.X% we've TakeAway generated MedSafe eligible processed report. And unused have program, over processed pounds collection could the a in

directly as market to see as significant the the this Gross opportunity leader we prospects. business, XX,XXX we margins. So, in

margins quarter, Northeast For the route-based related storms. unplanned our gross weather severe to treatment with associated costs the incremental and third operations the in by the were impacted adversely facilities

the sure, our you on disruption, remember, in I'm receptacles reflects The margin margin program quarter. lower treatment quarter many new also hit unused March launched. of well caused as efficiency, major all business, cost facility on in route-based was days medication the the many the late-season additional which as gross a our a by As Pennsylvania-based Northeast as recently for operational storms, collection as portion six

the our orders margins expect normalized flu conditions. call quarter season the our to bit well and a levels weather business support in our as return in June go XX% more in Diana color and mid-XXs considering impact to the to more but financials, her, markets growth well the front me turn to into other over We of about as provide the the opportunity range specifics better on -- I us. in as low before of let to mailback as upcoming the will

are elements abuse of envelope. both disposal the Recovery the just of ultimate medication of unused we're billion convenient, medication. the in couple effectively market user for years quantity and than is leader We our a that market with were to key $X of and the believe today growth. medical We TakeAway and combined with the it believed generators, billion And a we proper Medication different the significant opioid for unused unique management when medium long safe, creates waste small opportunity addressing $X ago. We've one MedSafe problem much company System

key element prevention believe and While a to very treatment is the important crisis, key solving we also role. plays a

So, in and being impact generating growth the company, contributing of committed hands unused adverse to medications the crisis and solving of revenue to keeping controlled by poisoning. out opioid addition part wrong hopefully the we're preventing of to from accidental including substances

to the who with turn of on cover that, a more I'll bit over So, Diana, company. financials the it will

Diana Diaz

Thank you, David.

revenue of of quarter third XX% gross EBITDA of last facilities incremental year. quarter of to quarter impacted of this of last basic unplanned net in quarter margin by $X.X reported the to XXXX quarter compared of diluted gross $XXX,XXX an as last The $X.XX XX% third million in loss $XXX,XXX of to loss the million a down quarter the to prior treatment Gross from in for compared Sharps year. last in year. margin the third quarter year, operating associated The $XXX,XXX with in share fiscal $XXX,XXX our and an Third or of third with operations of third XXXX company an million or third $X.X the XX% reported the margin year. increased $XXX,XXX loss cost $X.X associated was per compared the $X.XX quarter the operating as impacted quarter was unused EBITDA to to per period program. of with of in the company in of as and for compared launch fiscal year. $XXX,XXX lower of of severe or of XXXX the the recorded Northeast fiscal share medication storms, margin net disrupted winter same third of loss loss the last revenue of expense operation an by loss in which six with days. quarter million XX% margin route-based a a related also negatively revenue for the was loss the SG&A loss Gross consistent new or in compared of $X.X of XX%,

Care third XX% million, XXX% revenue Manufacturer customer medication million, million. to billings builds. million solutions, key billings Professional specifically Home XXXX, million. to $X achieved increased fiscal timing of $X.X MedSafe. increased due $X.X $X.X Retail company remains of at reflecting billings quarter the Looking for the the to by inventory increased $X.X of the and billings decreased at for Pharmaceutical $X.X Health billings million; of unused billings to market X% consistent comparisons

to and billings increased $XXX,XXX, to increased Government X% Living billings XX% $XXX,XXX. Assisted

at key fiscal Now, let's of nine look the comparisons the months for first XXXX.

increased customer XX% billings XX% Health billings Government increased that For $X Care $X.X Pharmaceutical due increased decreased to $X.X to million; million. $X.X $X.X Manufacturer Home X% billings to and million. increased million. XX% X% period, of $XX.X revenue timing inventory to $X increased Market to X% Professional to to X% billings Retail million million; to Living $XX the billings million. increased increased and X% million Assisted to billings billings builds.

the costs, months of or a margin to the last margin of months impacted in Net acquisition-related slightly first $XXX,XXX share in net to a the first fiscal first or share the to $X.X months acquisition-related was winter months was $X.X second the basic last down of For reduced of reflecting of months' fiscal XX% nine impact discussed diluted diluted as of first XXXX includes and fiscal lower program a quarter year. of compared for storm compared fiscal of and costs. the XXX by fiscal basic gross SG&A launch or the a was million per the year by XX%, months new year-to-date nine nine savings margins nine loss $XXX, $X.XX loss first the XXXX. $X.XX in nine associated medication and XXXX unplanned of with compared Nine in first the XX.X% the X% per months to the cost was of nine in XXXX. of associated these incremental Northeast XXXX, decreased in gross $XXX,XXX of initiatives launched cost as before. the Without of with loss loss million XXXX. expense unused fiscal SG&A year SG&A

million on an $X.XX nine basis, for the of per the company acquisition-related first expenses loss share of loss Excluding a of of non-GAAP adjusted year last months last reported $XXX,XXX year. $X.X or

Our remains cash $X.X XXXX of working and $XX.X capital million. solid XXst, of at with million equivalents sheet and balance cash March

gross $XX.X going expect low we in levels mentioned, million considering $XX revenue of to million. mid-XX% margins David the level forward, As to

million call depending marketing range quarter and David. million back with from that, the to I'll per turn $X.X over SG&A initiatives. expect on sales And to timing We of to $X the

David Tusa

-- Operator, believe ready for open Diana. Thanks Great. up I for questions. we're to

Operator

[Operator Thank Please you. from Instructions] question is Matt Group. Capital proceed. Hewitt with Craig-Hallum Our first

Matt Hewitt

and men taking for thank update you Good our questions. for and the

David Tusa

Matt. morning Good

Matt Hewitt

me. A few for

all solutions, First, the that tied announced seeing med customer? you growth to outside last quarter, or the that are disposal impressive of customer is in you that new growth

David Tusa

whether it care. drug -- retail We're seeing growth law and It's pharmacy, [life] with enforcement, all Government, be long-term all within markets customers. our treatment,

So, believe thing this really enjoying that's right right We timing pleased about. in hit offering standpoint, now. market position one we're we're a the and that leadership with we with really it from think

Matt Hewitt

then there? And timing color the you And issues a little Pharma looking? then pipeline maybe how could maybe provide Okay. that more is delay if the on in bit or Pharma, update

David Tusa

Pharma think, bill are, doing That their better in much the job actual missed the orders I Manufacturers that Sure. the of to of the with quarter, the Pharmaceutical units patient. to timing distribution fit the

may bulk. them they we in and remember, As order bulk ordered you in had

growth zero are We'll doing year or in already their for closer bit -- nine growth a you the purchases. ended. little or the the of be managing see because year same fiscal for they to months the damaged, minimal good prior growth year we're So, job from a probably

recently had haven't any programs. significant We small had not but some programs, -- we've any

but be to chase respect with to flat continue larger year-over-year We Pharmaceutical for probably this it will programs, Manufacturer. year,

Matt Hewitt

back And queue. and I'll Okay. maybe one then more hop in the

it get the not was able the to your was brutal facility. Regarding to is you're springs of here Midwest. the -- the How because the as obviously, was as to in treatment impacting snow, than simply or you ability whether does well -- safe weather, to a it in that greater collections, make place those because of the for your -- that that,

how weather you? Just that help is us understand impacting

David Tusa

All above. of the

many repairs, And days six all everything in like ultimately many, It's does obviously, treating to were you even So, cost. up for customers the but lot, it facility where and -- trucks large fuel where sound provide, time, running we make calling that inefficiencies. Northeast, a the and when have we of them did we all of the lost sure and could program advising rescheduling doing over a serviced. upfront labor, doesn't We we a the you're pickups. customers literally were

think I best above. So, time, interesting all of response the was a to very but it is the you

Matt Hewitt

Thank great. Okay, you.

Operator

from Analysis. Our with First next Please proceed. question is Joe Munda

Joseph Munda

you and morning okay? hear me Diana. Can David Good

David Tusa

doing are We can. Good How Joe? you morning.

Joseph Munda

quick. Real Good.

of Just the have looked ideas idea Any the what to you had would was? not margin those issues, impact off like piggyback what question. prior gross the Any had of snowstorm?

David Tusa

you tell -- be what, to we on has I earlier, closer I what have way. which than as to I gross quarter. the Well, this were would analyst said basis think been shut XX% to a the in XX% We I normalized more And typically we'll mid-XX%s margin, we at. low think, in is June

Joseph Munda

step-up gross Okay. you're cost that's of in margin, a And leverage on fixed the model that a step-up that operating is just on?

David Tusa

on is typically, impacted orders particular with flu $X the we quarter we then much last generated billion with in the the impact It's items quarter, the revenue. for June positively this in quarter not year coupled June having as revenue in increase the And on by quarter about And both. about opening June for the that business. talked flu. The consistent

that to give gross any not we all have So, plus those margins to anomalies expect. back what

Joseph Munda

Okay. In obviously crazy stronger it's a to season, been expected. than regards had people flu,

upcoming into carry their look will for You ordering this season for obviously, into ahead fiscal as step-up the we over XXXX, you and look was pattern but the people bad ordering? quarter, think that think will how to remember --

David Tusa

days, hope level probably reaching flu reaching we're sure actually, the I business out and to won't so. the much better case the out order, is able customers be order don't get a they have -- timing process to we'll and in now to and right We're our the much But XX last last have from year's flu inventory idea. be hopefully, probably left that the for hopefully, another, from Joe, year season.

it, guarantee so. can't hope but So, we sure

Joseph Munda

Okay. from to in in I we that? from question final going as, announcement that And you envelopes be Or envelopes, then, I the that queue. possible could generated see as further any back is to I revenue will a The for orders and in I add hop mean it steps XX,XXX TakeAway guess, and ordering player one-time deal? significant that. know, As Cardinal guys is well another well. my starts

deal can, that with the some if Just dynamics, you of on Cardinal?

David Tusa

with Sure, many great worked mailback and Cardinal that's a question, the obviously, and in many, because markets. years for side, wholesaler Joe. on probably We've they're, years, years a

Cardinal not projections, maybe moving tell going and envelopes. work them helping great with our the very to our pleased with work as and a the them. solution But crisis. committed they gain I'm I pleased there hopeful Cardinal opioid So, They've just long we've two relationship a standing company and We're will forecast additional offerings. to and is to us the with are that forward recognized them from make recognition will of within to we're but and well opportunities be well. that And other any with you

Joseph Munda

you. Thank right. all Okay,

Operator

Our next from proceed. question Research. with is Steinke Please Kevin Barrington

Kevin Steinke

Good morning.

chain customer, the large of pharmacy retail the is complete. with So, that the program rollout MedSafe now

revenue or margins to June from the sense see June in on the that if any in impact a the that Just more the we'll of quarter build quarter? trying get from

David Tusa

with typically the not So, of but for we talk don't first do. MedSafe our programs, about that customer just it's this. and and typically I'll say undone guarantee rollouts details deal. or our confidentiality programs, of that's our all, about one any of our we any program. all and them what work With it, customers continued with Can't with all customers respect of just But individual we typically have we

only have customers our with expanded. programs Our

the about just quarterly see different. to respectable we Kevin, be we But to is of in you I as and don't programs. that's of report want the them. you're well think, recall, as probably and that the of confidentiality success So, installs MedSafe the see what And as numbers very we anything our way I expect our don't measure all but increase best to the as and

Kevin Steinke

fair enough. Okay,

rate can large on that that of revenue route-based some next accelerate you there. the mentioned, multistate working deals in quarters, expect you growth So, couple potentially

and about and what acceleration you in talk the And a gives potential route-based? confidence just growth bit can So, you there? the little more pipeline

David Tusa

whether That's quarter. heavy actually our we very, in in only that a part and We where on or sales larger especially the very of field mailback working. December it's a Well, we really did of think And what provider we're good Deals did presence are -- sales that as December country and pickup, because sales, cycle. as have is in or focused route-based providing that we in we can that the March up as well Southeast here deals. be have multistate service, direct a question. companies -- larger Louisiana two Northeast, focused as in full-service a it'd Texas, well deals the longer where the one be in we

deals I in of closed June working. or hit we've a So, longer is couple but cycle, sales of think they one the it's particular, month

want can the provider. we that. to and advantage wanted a larger launch two service There's So, we of fact comprehensive that these focus only that us we're take of on deals to

that to think So, for is route-based to right of well successful going continue we've -- quarter alternative of I be marketplace the and it. then September our as see we're providers success. again, deals We think to as some with large we'll the we timing heading. mailback looking at think think in start we're I is the the respect And to business. been But probably the impact

Kevin Steinke

good. Okay,

MedSafe. optimistic like also pipeline for you're Sounds about pretty the

base prospect I about more reasons, in can you're there? you talk bit how sizing detail just out you guess, opportunity you that much see mentioned competitive prospects. market that a for the little about think XX,XXX MedSafe into I without getting

David Tusa

split and drug long-term pharmacy maybe at currently have which we -- Sure. to split way accurate, Diana, data between that we look have pretty the and so is the treatment, retail we now, have, probably the right care, we X,XXX-or think currently best pharmacy, The of again, don't is XX,XXX, units that hospital right.

the long-term of right hospitals, So, Assisted Living look XX% we in if XX% pharmacies you business about have at and Retail, XX% Government, now, XX% now care, it's hospitals.

So, lay. XXX of are where every hard, to day. opportunities think prospects literally a them that's too and the are probably representative I not good marketing forward it's we XX, But and going

Kevin Steinke

great. Okay,

Just a couple more from here me.

that disappointed specifically, think, I just timing a said, of in the how of came? Health terms in Care a billings you're little was more the You billings Home issue in quarter

David Tusa

on to of range. We quarter. distributors the Care Majority business that we to looks closer But short Home the and of Care, -- of of and it Care going was. Health to do lot over timing. Home spill did. Home the like hundred of we our Health of of on, Home that's I'm were so a be looks it the were business. Pharma couple thought the sorry, September it Health June to between XXX,XXX more came million going quarter, be Health Yes, $XX we get business, out hundred thousand that's But through to areas, really to and two Care expected we thousand We those we the -- bill where movement when the couple revenue but

Kevin Steinke

Okay.

the of from were Was a there third-party by a all treatment or at I I talked Lastly, should quarter, to environmental maybe know facility. quarter-to-quarter. can sequentially. that see the about the do impacted lot the bit you some Pennsylvania third-party be know at I down billings forward? little that last that believe bounce variability back may And going weather? we in starting be

now? about how business you're -- thinking what's right So, that

Diana Diaz

we quarter. of more season didn’t Pennsylvania from flu in. lot we that. sorry, have bit looking and little we'll seen the for We we in and comes did have what and have -- this this a get some just projects be December, But volume I'm more we spillover see March of a get quarter

Kevin Steinke

Okay, great. the taking Thanks for questions.

David Tusa

You bet.

Operator

Brian [Operator Please is proceed. Instructions] Butler Our from Stifel. next question with

Brian Butler

hear morning you me? Good Can guys. guys

David Tusa

Yes, Good morning. can. we

Brian Butler

Great.

margins, weather, profit XXXX, and quarter fiscal in XX.X%. the Back range targeted second to $XXX,XXX at kind difference to wanted is unplanned the gross the at points. kind XX% back basis margin go between $X the you somewhere least -- revisit XX% from at about second for the down in or of question. came Just XXX MedSafe? quarter out just Can you lower gross cost, break to million or The and portion I your magnitude of around it

David Tusa

about for of $XXX,XXX $XXX,XXX that it -- difference. were March And or XX%, weather-related related of large to the what is we whether the again receptacles was XX% Well, on a that both roughly margin looking it for or on that was whether collection upfront issues, be program. be quarter, those

to contributed both that. they So,

quarter to million million the looking to -- we're happen Brian, think, to mid-XX% thing most in going mid we is will to mid-XX% revenue and be is for some is back important and happen June -- to to hopefully I gross that that normalization we in $XX.X think level going margin. low low where $XX

Brian Butler

how the on $XXX,XXX you mean unplanned unplanned do quarter? I Okay. the last these had from cost, cost differ

David Tusa

unplanned were that issues to related cost These incremental These to quarter. last related are weather-related in the all are the Northeast. costs weather They're costs the related had different. these issues Northeast. up related the we we we up Well, to had had not in

Brian Butler

Okay.

unplanned the think that really about Is to it? cost two It's So, buckets. on associated right lower margin with way weather just and MedSafe.

David Tusa

Correct.

Brian Butler

lower the it it then this when a out was margins you the out, be to MedSafe, surprise this you to is on margin I turns And just the Okay. mean rolled guys. you lower, other the forward how as think ended rollout about this sustainability is we guess up from structurally or business? lower just going point margin should being MedSafe, a I this.

David Tusa

and then about that in Brian, impact this, about we somewhat -- revenue have incremental consistent were margin programs, more business, we've as overall where said the think higher on looking our margin closer the with to but again, for would is on we MedSafe would margin margin revenue that margins the to the But $XXX,XXX have the is XX%. before, related what we knew the XX%, $XXX,XXX, neutralized expected. we gross that No, all

Brian Butler

of side. piece Pharmaceutical on business the Pharma the -- Okay. And the then

for order prior. of LTM color how full now Can X%. it So, of restocking to range I decline, to necessarily XX% looking slightly the single-digit of or kind high versus on basis, or inventory were customers? somewhere new builds call current new We're you guess, in -- give but flat, versus the delay much down a that decline be little not in on year we're an

David Tusa

don't if know, Brian. question, your understand I I

Brian Butler

I'm trying the to understand build projects what less project program offset new less and customer how -- much inventory from -- or decline new support reordering? or

David Tusa

we're number. see programs in some flat. next significant builds. of were the a weren't year weren't looks for year but new year not large, maybe the They they this it for new like for -- fiscal Again, be significant and fiscal couple dollars will bills. -- There a new number be this -- and chasing of year, will see few we'll for a this thousand opportunities hundred we'll It's programs, hopefully, that that

Brian Butler

that the Right. programs of current orders way a program gradually right And end? ultimately, support this based to supporting, didn't I about Or this patient to guess, and in those does do at it? if that on million decline mature have you programs new base year added you're is $X new run the appear, not currently think

David Tusa

patient no. be is solid. we they and watch program to watch we the counts on -- No, look what the We

So, see we continued would expect bills. to

of there charges a well. service for fulfillment charges is number charges as in We other there and also and charge

to that of But expect increase. new we're on would we'd new course, remain we like and number any programs we So, didn’t focused to see if programs. flat bring

Brian Butler

Okay.

this can you us flu of quarter? what give business, side Retail the the revenues On the were

David Tusa

Sure. got-- Diana has

Diana Diaz

Yes.

year flu For which quarter. the $XXX,XXX, for were from last slightly under quarter, the revenues was just up

Brian Butler

Professional was? way Okay. to exclude contribution the you another what a And have I on the the the what on Do there? Professional the maybe in mailback, Market you that if growth ask be, from -- breakdown question mailback was Pharmaceutical the Market. guess would Or on the

Diana Diaz

than the on mailback was Care in rather Health change in the declined for. mix That's I and where Professional Home the market the a Market. Pharma more the impact mailback market think

David Tusa

mailback caused was related that that revenue about decline. primarily there $XXX,XXX Roughly all

Brian Butler

Okay.

So, to it mean, I And $XXX,XXX to support it math growth, guess I out that that try the this last do to year? from of mailback. mailback were was were quarter, if what about $XXX,XXX patient I this but I out, take I was myself, can from Pharmaceutical take

Diana Diaz

the in and mailbacks in and for the $XXX,XXX flat. mailback the component business. XXX But was in was Care was a The decline Home Home then quarter Care there Health $XXX, decline the of Health was Pharma decline

Brian Butler

Okay.

So, is if you it is that--? even Am sounds correctly, not the mailback or to I about growing, adjust that like for still were thinking Pharmaceutical.

Diana Diaz

The based Home Health Care on difference timing. was

remember, year. two quarters you level Health strong strong first -- of the at if So, was a Care in up the Home

Brian Butler

acquisitions then Okay, all you right. And of just from the about do just forward. thoughts kind about acquisition kind Can one, of and capacity growth talk to last there. going kind of on and talk just acquisitions pipeline, perspective strategy point this

David Tusa

Sure.

the where as they're to it's complete do spent. any most the rollout. too Southeast line we has have go currency expanding things and this, we're although with XX not stock one ability opportunities in from to currency, of acquisitions get business. able using to -- got a will the active continue And said enough been and obviously on their of we'll the attractive organically that at. get say of of states aggressive And of to the But and price to our be we'll stock, where complete in that's available, events, we for it that's by now that's is acquisitions. our most but stock expensive for deals, to a Texas, just year grow what as price, to have to how be attractive pretty the us folks triggering But just of from us. of XX% the to Louisiana right see We've there the more at have we'll think XX terribly ready we continue truly Northeast, far I population recently We I it credit pipeline. look really the for to of end with and as to we continue before, life, owner the lot acquisitions. We out and down are -- is look if talk

Brian Butler

for you Thank Great. taking my questions.

David Tusa

Brian. bet. You Thanks

Operator

our like back to to We session. management of the over the have reached conference turn I end question-and-answer would closing for remarks.

David Tusa

you. you talking Thank We look call. to participating quarter. you the in Great. next Thank forward with for everyone

Operator

you. conference. today's concludes Thank This

lines this may participation. disconnect And your thank at your time. for you You

Sharps Compliance (SMED) 25 Apr 182018 Q3 Earnings call transcript