- Earnings call transcript Q2 2023

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Operator

Good morning. My name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to the TESSCO Technologies Inc.

Second Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. there a remarks, session. speakers’ the will question-and-answer be After [Operator you. Instructions] Thank may Sharon conference. from Calusdian begin Merrill, David you your

David Calusdian

Good morning, everyone, QX fiscal and thank you XXXX call. for conference year joining TESSCO's

Executive Mukerjee, Joining are the prospects. the management contain CFO. TESSCO's anticipated Officer; will that and today statements President Please me note Aric Sandip and forward-looking today discussion results Company's Spitulnik, future Chief about and

recent that today. and may number and With with that cause most factors Sandip, Forward-looking ahead. and CEO. Sandip results the from the risks difference a periodic Commission. the a public like be I'd may TESSCO's reports of in to differ to turn statements Information those please go company's filed can Form XX-K introduction, discussed call involve and uncertainties Exchange President Securities materially TESSCO's concerning including TESSCO's such found and over other Mukerjee, disclosures,

Sandip Mukerjee

for extremely this Thank thank and you, today. you record performance us Good our am morning, David. quarter. of joining I everyone, proud

Our the excellent utilizing driving through business and discipline value; launch net income, business, turnaround and EBITDA and our distribution in product direct tessco.com; new successful ago our demonstrates growing streamline operating and adjusted revenue, investments Ventev, strategy, has and strengthen via delivering gross by quarter pricing we we growth ERP Tessco and to differentiated software and implement efficiencies. our been execution our Since years Two service call then gross invest improving to wireless; strategy. improve XG line, Observer. our operating our grow profit, revenues our by achieved markets, a margins higher Tessco the to EBITDA three-pillar leverage of new business, this announced growth mainly which revenue Ventev by and new drive on now our focus adding TESSCO's Observer, value

produced trajectory segment. actions of have sales improved Furthermore managed improved business, and every initiatives. the every demonstrated every by QX and a we all line up year-over-year. maintaining of channel sales revenue dramatic totaled record quarter progress backlog. expenses sales in $XXX These This improvements market carrier record turned quarter, teams our while million, Strong effectively have produced around performance revenue of we XX% across high commercial revenues and our strategic with a record profitability. near in both

sales totaled $XX compared to backlog the at quarter record end Our the quarter. $XX the end at the of second of the first million million

compared EBITDA. $X.X was growth in EBITDA in we in improvement remained year-over-year adjusted driving year ago ago. profitable million million $X.X $X.X Additionally, focused Net a a million million loss of and income was resulting income compared with $X.X adjusted on year a a loss improvement and of net million $X.X million a a $X.X with

in of we of cause spikes we've Regarding signs our several expect product be supply in but delays chain, lines, improvement will global challenge continue short-term inventory. and to seen our a

past us now our However, improvements quarter the through I the this in highlights and walk times allow backlog to results our you quickly. following certain more product retire will to some lines will of the format. in of lead

was and the and tessco.com. on and carrier up our third, quarter mix. Carrier for QX a and and sequentially was year-over-year of First to record three distribution, year-over-year sequentially. markets; X.X% our our was customer XX.X% and software; Gross namely commercial; XX.X% carrier revenue more second, our favorable due business, performance XX.X% product two up key a Ventev elements business. profit

up QX XX% Our carrier over year-over-year. was at million, the backlog $XX end of

share market turf our contractors improved year-over-year. growing have with AT&T XX% We

by sites make the not turf distributing challenges. impacted are sure that chain confirm at Our supply that and customers do we reallocating ongoing exceptional to job their an material

the be a grow major turf quarter-over-quarter. XXXX tier signed and them. Also, carrier Additionally, that to X believe about optimistic are year very larger would our customer continues calendar customers it last many for we of year big

We on carrier revenue product turn ecosystem. to a will and very strong QX categories with for Gross includes was increase into the and now the and XX.X% markets. commercial quarter infrastructure I new into year-over-year all an X.X% expanding increase new commercial year-over-year outside sequentially. a wireless are profit XX.X% increased business working X.X% market, which sequentially.

Our at XXX% quarter $XX year-over-year. of end backlog at commercial sales the the increase a was million,

customers TESSCO'S personalized be rely scale, million shipped past is wins coverage million leading million. Through preferred reputation Our services, the added $X.X reasons why that case. contractors That access program. Enhanced from integrators. and coming expertise, to to strength were EIB, the to to key I book our backlog that program we management segment support, a We $X.X of this months. to over partner in large our be a a the and have were previous able hospitals still or AT&T mentioned EIB Program, EIB In-building able $X.X over over to of continues the account have quarters expect which DAS The on technical program value new as outside TESSCO. market quarter that are sizable for we over our project the ship we totaling

helping XX% utility assisting with automation These grid strategy overall XX% grew electric projects. and market strong utilities modernize results Our confirm their year-over-year sequentially. of our and

kits Growth We're already a and as and enclosure equipment continues our utilities. across technical recover which owned expertise multiple utilities bit strong is test resulting our utilities sales deploying utilities seeing again. and a some wins development this investor metering be infrastructure, in business wireless. Fleet in seeing demand solution positioning to automated Ventev around universal strength for to team. simple turnkey of are broadband are starting campaign is and experienced a a also buying market Our our we in these initiatives with focused combination include of once

year-over-year, Our VAR slightly but X% sequentially. down was market grew

includes customers. year-over-year, products. just projects basis On transportation railroad a that equipment XX% X% X TESSCO more Our microwave competitor's included than was a Class which segment grew has support This down sequentially. offering robust to for

team, to win to support, account program services solutions with a and position relationships profitable supplier logistic margins put but relationships. management, in strategic us win and personalized create not long-term very strong Our only

are leveraging services improved to customers. we these which real through execution, with enhanced Additionally, added creates and gain our support loyalty customer partnerships resources value

momentum carrying the very We second year. into by are we half the strong are encouraged of the

strategic Turning share and now help to market of Ventev business, specifically chain relationships the distribution, diversify are Starting distribution constraints. our and our increasing TESSCO'S reviewing focused three overall on we key to against to with elements remained our software. buffer supply new business supply and business,

very times. earlier, the lead improved mentioned has I still somewhat, chain while supply As have many products long

planning inconsistent ordering relationships teams of on work in We has need. easier us. by We forecasting our customer timely to to they many pull suppliers them the with chain in times and and a driving of experience to ensure offer where our business to leverage items dates our where orders the materials utilizing their advanced us customers This our customers, and demand with and provide directly to remain partners appropriate. are delivery completion it with which for making do product setting and of apart and overcome positive both focused manufacturer lead to substitute possible TESSCO supply purchase in helps help We encouraged many projects.

Ventev third company, and highest industrializing a was the the second world's for year-over-year public including history world's highest and customers, market functionality. largest retailer in to quarter provided has athletic companies The largest gas growing XXXX. general now a natural entertainment continues amusement apparel of as range quarter two competitive well strategy fiscal for its QX our conglomerates. yield XX% and with the wireless largest of world, had access our existing these share retail supplier, Ventev in as sequentially. X% revenue in operations of the Ventev Ventev, Ventev with electricity our ride Turning products increased achieved two to results. wide

past industry, XX XXX XX ceiling used can as as is and factor quarter, new Additionally, Omni, Wi-Fi and stainless to Cisco tappers. watts, X,XXX in new and the used and omni PoE jumpers automotive steel that low which to a antenna Ventev enclosure cable of and indoors with antenna, directional site a introduced support antenna has well with applications Cisco AE XE system [ph] solar several design outdoors, hardware be a popular for and customers products both devices, supports BIM version a typically hertz a [ph] and this

the templates, our and also our have in made implementing Regarding additional workflows on offerings progress on server. onboarding deployment SNMP customer automated including user accounts, the business, Observer Tessco workflows to to portal, software platform, and configurations enhancements new devices, we the intelligent create solutions,

Observer signed customers. we opportunities new and Additionally, customers have both growing and several to prospective existing of have Tessco for pipeline a

of our online sales we and tessco.com. terms directly sell In both channels, through

record which tessco.com, to customers of new attract to $XX resulted quarterly a revenue continue million. in We

we also packages date had provide years. replacing an to This goes system legacy software including costlier ERP costs, and reductions the and been in amount Once over our period. significant is and in for the in been anticipated. we many like freight in system expect XX reduction confident resources other place needed you system ERP taken would in our costs will in more that Lastly, project of capitalized the seven-year are I to several longer the system effort our modernize legacy To efficiencies, of realizable has system replace fourth on Once business capitalized final utilization. the business, live that We're new amortized purchasing has initially update will reduction conversion, efficient $XX expenses, and implementation implementation been going costs about run live, quarter. than million. the and a with utilize. enhancements standalone and have final during better stage a inventory with be live, our non-capital This

strong Aric fiscal turn investment. to over the the our with call I XXXX for will benefits return along these expect realize to a We on With financial that, in review.

Aric Spitulnik

and Sandip, morning you, good Thank everyone.

of XX.X% the growth a quarter $XXX.X of Sales segments year-over-year. statement reference segment amounts reminder, totaled million combined second will commercial sequential second and I revenues with retail in increase business. XX% that XXXX customer fourth sales quarter all the in our record fiscal the segment. million This from for at prior compared quarter in fiscal and growth compared million, quarter is former These the profit quarter. million XX% income achieved activity results $XX.X industry-wide Gross same the XXXX of for first consecutive at the Gross our a our supply quarter up second the the operations quarter of carrier compared was XXXX. $XX.X of disruptions despite sequential the exclude of result Ventev including commercial had largely global backlog million as of As year, our were for of for the continuing the for consecutive a industry carrier We XX.X% favorable the of for a to fiscal totaling the second the from end with mix, of chain. and end quarter quarter and $XX was margin second of are product products. $XX

XXXX general compared increased prior of XX% with with fiscal to $XX.X and expenses year the revenues increase variable increased Second the in administrative prior percentage XX.X% revenues. SG&A quarter a selling, associated the second X.X% expenses as result in year XX.X% of Overall, quarter a of quarter million, XXXX expenses primarily quarter. as in were from fiscal

revenues out quarter to fixed distribution XX% remaining and of as a of center consist freight labor out sales XX% the expenses. we of by in expenses roughly and The This variable expenses variable began primarily and commissions. break expenses percentage

in of percentage as last due revenues carriers other accessorial this This charges. was to up charges and a surcharges quarter's year's see from X.X% freight second continue X.X% from quarter to quarter largely increase variable fuel we as to SG&A

that costs of are discipline which customers, from down pricing is to XX.X%. and profit. has ensured and SG&A revenue our operational gross included XX.X% freight a we percentage the Fixed to pass rising Our as in revenue on

with Tessco IT We able support to of other areas reductions the most in support organization. have Ventev, to been investments Observer, and

the fiscal We implementation reductions to will new to in XXXX. expense continue will the efforts continue on ERP us and focus fixed these of enable

and of of for of year. $X.X fiscal $X.XX $X.X was with adjusted second loss of were $X.X income the million This in with compared adjusted Adjusted of the a and EBITDA second the EBITDA EBITDA EBITDA respectively second fiscal per a for and Second and quarter quarter per share adjusted quarter XXXX. loss share $X.X a loss net last quarter XXXX. million million net $X.XX XXXX respectively compares fiscal million of of

In discussed. under cash manage we $XX.X levels. reducing balance overall to our disruptions the $XX.X part to was in Turning Product the our the Sandip million in $XX million, line of quarter supply management, at working equivalents. we chain million to inventory sheet, balance remain outstanding inventory end the and $X.X quarter, inventory order by the in had through cash second are and on strategic increased million credit company's in

million balance inventory We by the be $X.X expect and few chain other receivable increased to of variable our remain constricted. parts next of credit as challenges. a million. quarter of more with improved tax levels in receivables line We parts This back for the Accounts quarter chain second loaded supply reflective while due quarters income the even of quarter. more that is was supply to the $X.X the pronounced ended sales

would guidance will revenue of we are of of associated returns first our to guidance results, headwinds of of on business which are these in With call $X.X of are with XXXX, that year on pleased records near reaffirming $X.X a and we $X our strong turn very $X All XXXX. loss million, to level then receipts Maryland. the we million the macro million see to payments I executing is million and we record to strategy filed, the growth follows; encouraged million and loss am strong are ranges. to dependent backlog, IRS the that, year which and so between we our to net EBITDA million, the which is pace adjusted XXXX, the half of for with a $X and $XXX tax meet will to of more been which I $XXX in half, largely on resulting even timing by Sandip. have X% compares in impacting results of the as $X.X State our and and second have fiscal achieved. continue year believe back compares million our and that XX% Accordingly, to million, represent fiscal we and sales, fiscal net Despite how

Sandip Mukerjee

Thank you, Aric.

to open from this we quarter. Before call the the want highlights to reiterate I questions, some of

backlog. $XXX record Our year-over-year. QX performance while Strong sales sales totaled revenues commercial by carrier teams XX% a our both million, high up and maintaining

yielded in net improvement on $X.X million Our EBITDA income. driving improvement focus a profitable growth and in million $X.X a adjusted year-over-year

to realizing XXXX. and in meaningful We year begin fiscal our in expect our new ERP fourth to benefits quarter launch fiscal

driving our to open now We our we importantly, ranges, and are to meet With solid profitability growth that, turnaround produce our most efficiencies strategy to on pace across continues guidance and improving business. and call questions. will results, the

Operator

line And [Operator Blair. of your first from question from Jesse Wilson William the Instructions] comes

line open. Your is

Unidentified Analyst

ramping results thank about Tessco to the Hi, hold about Maggie. you. informing on those I still think your half this Jesse ask This the revenues for wins expectation do and in kind true? quarter. is second to so expectations of you does Congrats on the how cadence the for Observer, nice of out? wanted What's ramp

Sandip Mukerjee

the we Thanks for question. fiscal remainder through revenues the Hey, Thanks repeat expect we Jesse. of morning, XXXX. year to ramp into and good joining. for that Yes, this these

for paying the and number service it. a using customers have We of

out But the to repeated, we small. earlier revenues broken said you those we haven't We expect as numbers. and as ramp. are They

Unidentified Analyst

And It's On been then one variable out times? from helpful XX% quick would you Got began and break SG&A up normalized by and to look has me. in component, it. that like what that fixed. that historically it variable freight follow

Aric Spitulnik

really relatively to sales years the really us would back the bit It's of chain other the it's warehouse the Thanks go past. this, because they less Certainly labor in a in supply have and you say stuff, been couple probably been commissions consistent. numbers have if related higher the the Aric. last XX% in than quarters be three freight compensation Jesse. would the little two, I before issues impacted than

little wouldn't but bit be a I to say years, certainly less, going in dramatically prior less but it's less. So

Unidentified Analyst

you it. taking Got questions. Thank for our

Sandip Mukerjee

Jesse. Thanks,

Operator

Instructions] comes Stephen [Operator from Your Cole next line Mangrove. question from of the

Your open. line is

Unidentified Analyst

Hi, good morning, guys.

Now I had questions. few a

little a I conversion. understanding. talk to sure the me Let just I'm make ERP about bit want

but investment strong you So on looks return I strong think know explain we benefits but some And expecting bigger a on as obviously a turned cadence looking than a get been that, to expecting being return or we're from talked I you forward to mentioned about million $XX it what it's of does Sandip you're what like? lot spent capitalized, know project of a And look that. maybe expect, the like Can you're different that well. that said, Aric, you obviously I that? areas we'd and

Aric Spitulnik

Yes, thanks Steve, good morning.

on sure. As system benefits looking Those exactly over show we the next benefits ramp FY what to the benefits early we beginning for to to FY in over from with go we're of those up with the several expect quarter, be time XXXX. start amounts it saying not basis dollars XXXX. starting live we'll part million annualized are, at, an starting see but the in We're will them

Sandip Mukerjee

Yes, question this early morning Steve, and you. to good the for Sandip, is thanks

things are we going amplify to it. that that to a Just Aric launch couple excited we said, of very pleased this are about and finally

the help the OpEx of well. items statement mentioned better benefits our us inventory overall reduction Some and management, call, and will on management better we which expect we during as income freight

So But said, with basis annualized revenue underscore, XXXX. benefits some as an several Eric expect as it's million fiscal multifaceted, we well. expect and beginning on plus we to

Unidentified Analyst

of too. for backlog margin a looked think that side. commercial which or in the a And pickup have us on a towards much Right. is Ventev theoretical So today? here seen the in is great efforts shifting? we booked like would is give how skewed at that more you of looks sense, it if How look it you can the with at encouraging flipping you to margin tessco.com, a minute, the guys nice obviously How just quarter and backlog is growth I some

Aric Spitulnik

the back the million numbers, on is the the call, I roughly absolute actually on and million breakdown, side. if of the it's the carrier Steve, $XX gave commercial think, $XX side the remainder to we you go

the seeing we of terms the perhaps in statement In help. following turns backlog, are will

at of plus the of If old. pretty backlog, is you XX quality our backlog less test percent look the we routinely, XXX days stress which than

backlog is more and the creating backlog. turning our are bookings is our team we So given generating, that

Unidentified Analyst

That helps.

Sandip Mukerjee

point other one on Steve, backlog. Yes, the point yes, other one on,

you were commercials. the If revenues bit than year when go little carrier million, was higher back a backlog backlog the was a around $XX

the margins. So so margins carrier the past will help that that's the us, in are shifted commercial and much than higher given year

Unidentified Analyst

it's changing continues cat exactly think everything the think Sandip right? going lot I how conceivable I curious So see smaller sure on look what you forward? when time is you a stock you've you every company lost picture, and when to see place is up you languish across I'm is not that you on names, guys, how said performing first and KPI obviously, performance this that that valuation a you it's bigger great and the do ever, more is do better might reflecting our environment the a one, you is I've than the sure don't look, got you that And this not bit for but what at company a of have, number that them. accord

Sandip Mukerjee

a thanks meaty subject the the the fundamentals. a question. very on we for for Steve company Obviously focus mean, perspective, company. I from

XG-related helping think segment, we where us revenue a you the commercial are growth perspective. is right? XG, wireless, investing of in investing, accessories if So markets, growth that and from are in we

And we to is are noted are thanks Ventev, than we leverage. expenses driving for that gross discipline, that that, we faster expense us are through improvement. better growing better perspective, revenue bundling operating margin and needing you an giving Steve. Second, we operating better Observer, grow are growing, From service, with

we fairly confident revenue, are the able the be able grow we issues and to as not only EBITDA even chain will market grow faster supply and that out, grows but improves be So committing we to revenue. that's proposition we will, to situation than that's get are our mean, new improved place. value our what and delivering and once be we in expect ERP the I we to

Unidentified Analyst

Right.

Aric, again, but only still into favorable and halfway we so at XXXX line mix, see FY given you XXXX specific a strong looking mean numbers, little look, top look and better at it's just a you through pretty when bigger you how a operating and FY at from point? know to XXXX, and then are leverage So without general early getting this macro we're do Sandip how side do I in growth looking I

Sandip Mukerjee

chance, risk more or quarter guidance. at XG. Steve, end we Yes, fiscal being we'll XXXX at in next growing, -- But see the investment at repetitive, the precise give this markets right? right? a investment see get see so LTE. the private in of to We We of For more point more five

improvement hunker on growth margin Focus be gross So continuum. a markets. continue will the we to will down on

confident demonstrated leverage We're focus and or we diversification to maintain the then and our We that exploiting can be can move that needle, have on we vendors. EBITDA. the grow that, with operating grow across will creating

Unidentified Analyst

quarter. much. Thank in. get in to Right. give queue you. you the very a folks and Thank guys chance hop good I'll back Very

Sandip Mukerjee

Thank you, Steve.

Aric Spitulnik

Steve. Thanks,

Operator

comes a next Capital. from line from Your Tieton question of Bill Dezellem

is line Your open.

Bill Dezellem

you Thank a questions. group of have quarter. nice a and I

the and that essence Let message are if feel just in you momentum. is business you in me hearing to are you trying like the that start convey? say Is general, we gaining correctly,

Sandip Mukerjee

correct. Bill

with We are very the quarter. pleased

very, we heard You've think, four last of pleased the over quarter. continuous and and this quarters, how executed very performed team improvement me how with I the

Bill Dezellem

you turn probably the conservative and in that in a is seeing And fact if opposite full you the question, the that have number is the business the as really which thought certainly we in relates are what to to are way is and start and unless year guidance here? indicating. What next to already seems income guidance process net markets use helpful are first missing deteriorate, and contributed were that look we from at at compare like guidance to the into and point, my really what half, and segue which your That's what it this EBITDA just guidance. around conservative the the our at I'd to low relative end

Aric Spitulnik

net at it differently I'll take than you each look to bit income. EBITDA a little of have those,

net the the on So is system. new depreciation really the issue income

million depreciating $XX that you seven we'll years. recall over So be

that fourth hit expense a of that's big So chunk statement our income in quarter. will the

to negative have The so, us. run On one. certainly X.X or an in on we're X. strong. I rate. guidance confident be the where we that good EBITDA, The Yes, high be guidance next a the year to we side in hopefully at be increase X a X.X certainly or impact we're numbers And the, one we a we're that we're the will think out. very very being So now is side hitting in now. might, able second that. the on think confident very we've quarter is place on going the to might half of But for will the of that laid impact, That's yes net income in

Sandip Mukerjee

Yes, you where we continue are confident were being more to right? we are said product circuit remarks products, some a things, the but happy you that's issues repetitive question, end, the electronics based if more the at to categories. to as remainder, constrained, The right? chain into need integrated effect, with in say say about your second to higher on that. I focusing. the we at dependent And especially of take couple we I seeing about and the we the made obviously If The we're underscore our performance said, dependent, those guidance. mean, towards that the, the we're though, half. So still we Aric are, improvement if very half. pleased, in earlier, back go some of supply We're risk Bill, just bullish to first are are

Bill Dezellem

is That helpful.

that certainly issue still in higher chain business And it better sounds if there maybe exists. that, continues, is reality so a are end at but chance like even at you to than the supply the incorporating be some the more

Aric Spitulnik

right. That's

Sandip Mukerjee

You're correct.

Bill Dezellem

they that That turf in And it this saying is shift go strong and in see issues, given carrier likely hard to those the they going you now does Okay. challenges year, next imply also the that may, supply year the connect relative your chain unfolding to dots. although if do will up go is that is, that Thank revenue contractors the I you. to be supply capture and helpful the have that way? fully segment, chain seeing, next be strength question think I up helps will the will let to given that backlog different some or because are me

Aric Spitulnik

stay fundamental growing a that. It's Bill nature a turf the of dynamic been growth we from perspective, has that. investment I'll contractors to it said these what drive supply away and chain. I are one maintain And is has evidence to mean from emphasis about towards pretty predict. our inventory, But difficult markets in markets. the been

are we these grow and fourth be inventory, markets So build the live relentlessly ERP maintaining focused creating. we and to to to are the right quarter growing want and it, are with that we go the going determined on to very just get upon operating leverage

Bill Dezellem

the that willing being orders a now more need? kind what more just turf the getting supply or supply it give even can they then be Thank you and can so product on therefore does with continuing of chain? create you can, challenge hand Or that that are maybe so working them that, they that contractors able in of on you. to so are you And you cautious

Aric Spitulnik

contractors just are turf the business. one of part Yes, our Bill.

the you if turf were, contractors that agreed. had bills made you If by the at they and carrier made driven are would the have provide. statement serve specifically in I large, you general The

look on you're planning horizon our with we longer customer if TESSCO base So how drives do and far They're out things on longer us, away with for overall, and are But to. kinds and they at the at planning look. of they serve, business back a a being carrier are the good and you horizon. they able people which their contracts large, is a thing to that alluding have

Bill Dezellem

out of you Observer now you're they would kind hearing that Great, and Observer they to data? the VARs Observer, options is relative rolling are from out you. or that like Tessco relative commentary customers Observer relative of is to that the thank to how the your what And working versus or what have and commercially

Aric Spitulnik

market that a We're there their a very encouraged It's to able with our is incorporating the Observer going by is case And good we forward. need customers. the the the to our feedback. bring in fill. being into software, is customers, specifically value-add mean, I as that can are feedback roadmap that VARs

Bill Dezellem

like don't to feedback be I'll I'll VARs easy But and basically a way a will happening that -- want is they that pretty think impression want do that work time my a well. it's know network. to it's make because meaning when customers VARs from I your with that question, the very what's any work relatively like since about revenue are to there And fee. monthly they the and customers be to are is we've that the something there able additional do, almost basis Is to with wrong inaccurate? a is VARs the anything a it that's and and learned that's one this Observer they this collect zero on to gone generate to SaaS that do there VAR and last inexpensive on make, this, and their my sale as finding have the have done and they custom, really and accomplishes their And network

Aric Spitulnik

But would things ramp new need in we customers Bill. and generally to are like a to a sell to we spike. them pleased VARs of we There network. their for VARs as our correct. so critical time are the this. are, where over expect manage You is The components for to with opposed It's capability these market

Bill Dezellem

many thank for all questions. my you taking Well, Great.

Aric Spitulnik

Bill. Thanks,

Operator

will no team turn call further at questions there some for And back time. the the over are to I closing management remarks. this

Sandip Mukerjee

members TESSCO forward everyone We with to TESSCO, thank next look their to possible. day. again dedication for your thanks work nice these you you our team quarter. again all us of makes for the results and hard today. of We call. earnings that Rob appreciate a support and you, Thank Have This all concludes and speaking joining

Operator

concludes you participation. This Thank conference your call. today's for

disconnect. You may now

Tessco (TESS) 28 Oct 222023 Q2 Earnings call transcript