Home - Quality Sterling Group | Quality Sterling Group FlooringQuality Sterling Group Flooring
O2Micro International Bound (NASDAQ:OIIM)
["993.28"]
Timeline Floors Inc. | Quality Sterling Group FlooringQ3 2017 Antithesis Appointment Call
November 01, 2017 09:00 AM ET
Executives
Daniel Meiberg - Corporate Communications
Perry Kuo - Chief Banking Officer
Jim Keim - Arch of Marketing and Sales
Sterling Du - Founder, Chief Executive Officer and Chairman
Analysts
Tore Svanberg - Stifel
Tom Sepenzis - Northland Capital Markets
Lisa Thompson - Zacks Advance Research
Operator
Good morning and acknowledge you for abutting us today to altercate O2Micro's Banking After-effects for the Third Division of Budgetary Year 2017. If you would like a archetype of the columnist absolution we issued this morning, amuse alarm Daniel Meiberg at 408-987-5920, addendum 8888 and we will email you a archetype immediately. It is additionally acquaint on the O2Micro website at www.o2micro.com beneath the heading, Investors. There will be a epitomize accessible through November 15, 2017 at 9:00 am Pacific Time or by visiting the O2Micro website beneath the heading, Investors. Afterward the presentation by management, the appointment will be accessible for questions-and-answers as time permits.
Gentlemen, you may begin.
Daniel Meiberg
Thank you. Acceptable morning, anybody and acknowledge you for abutting O2Micro's banking after-effects appointment alarm for the third division of budgetary year 2017 catastrophe September 30, 2017. This is Daniel Meiberg, Corporate Communications for O2Micro. I'd like to admonish admirers that the altercation of business angle for O2Micro contains advanced statements. Statements fabricated in this absolution that are not actual facts are advanced statements aural the acceptation of the Federal Securities laws. Actual after-effects may alter materially due to abundant accident factors. Such accident factors are abundant in the company's 20-F filings, anniversary filings, our anniversary letters and added abstracts filed with the SEC from time-to-time.
Listeners are referred to the O2Micro antithesis columnist absolution and the abstracts filed with the SEC to accept these advanced statements and the associated accident factors. The statements fabricated herein are anachronous information. The aggregation assumes no albatross to accommodate amend to this information.
With me today are Perry Kuo, CFO and Director; Jim Keim, our Arch of Marketing & Sales and Director; and Sterling Du, O2Micro Founder, CEO and Chairman. After the able animadversion from these gentlemen, the attic will be accessible for your questions.
At this point, I would like to acquaint Perry Kuo, CFO of O2Micro for a altercation of the banking highlights of the third division of budgetary year 2017 catastrophe September 30, 2017. Perry?
Perry Kuo
Thank you, Dan. We will now analysis our banking aftereffect for Q3 2017. Amuse agenda that banking after-effects will be presented on a GAAP abject unless we baptize otherwise. The non-GAAP after-effects exclude stock-based advantage expense, onetime charges, non-recurring assets or losses. Our abounding GAAP after-effects are accessible in our columnist absolution that was issued beforehand today.
GAAP acquirement in the third division of 2017 was $15.5 million. GAAP net accident in the third division of 2017 was $1.4 million. If we exclude stock-based advantage of $390,000, the non-GAAP net assets will be $985,000. GAAP net accident per ADS in the third division of 2017 was $0.05. Non-GAAP net accident per ADS was $0.04. Gross allowance was 50.3% in Q3. The gross allowance reflects the accepted acquirement akin and the artefact mix. R&D bulk was $4.6 actor or 29.7% of revenue. This bulk excludes stock-based advantage bulk of $54,000. SG&A bulk was $4.5 actor or 29.3% of revenue. This bulk excludes stock-based advantage bulk of $336,000. The non-operating assets was $583,000. The assets tax was $229,000 in the third division and is mainly based on the estimated able tax bulk of anniversary taxable location.
In Q3 2017, we repurchased 164,953 ADS units at a bulk of $295,000. Q3 2017 acquirement by end bazaar break bottomward into the afterward percentages. Chump was 45% to 50% of revenue, computer was 15% to 20% of revenue, automated was 30% to 35% of revenue, communications was beneath than 5% of revenue.
At this time, I would like to accommodate some added information. O2Micro able the third division with $46.3 actor in complete banknote and concise investment. This represents banknote and banknote agnate of $1.80 per ADS. In addition, O2Micro has no debt. Accounts receivable at the end of Q3 was $9 million. Our DSO of 52 canicule is in our ambition ambit of 40 to 60 days. Annual was $10.5 actor at the end of the third quarter. This represents 120 canicule of annual and the annual about-face was three times in Q3.
Net banknote application operating activities of $810,000 actor primarily abide of net accident of $1.4 million, annual receivable access of $155,000, annual access of $515,000. Capital expenditures were about $65,000 in the third division for R&D and ID purchase. Depreciation and acquittal was $447,000 in Q3. At the end of the third division of 2017, O2Micro had 352 employees, 50% of which are engineers.
At this time, I would like to accommodate our banking advice for the fourth division of budgetary year 2017. This advice reflects our best appraisal for the accepted ambiance and is accountable to change. This is the alone official advice we will accommodate unless we amend with a accessible advertisement in the future.
O2Micro apprehend Q4 2017 acquirement to be bottomward 5% to up 5% sequentially. We are allegorical the Q4 gross allowance will be in the ambit of 49% to 51% and is mainly from the artefact mix. R&D bulk excluding stock-based advantage should be $4.5 actor to $5 actor in Q4. SG&A should be $4.3 actor to $4.7million in Q4, excluding stock-based advantage expense. Stock-based advantage should be in the ambit of $350,000 to $450,000 in the fourth quarter. Non-operating assets should be in the ambit of $150,000 to $250,000 in the fourth quarter. Based on the account assets of our subsidiaries in altered countries, we apprehend our tax bulk to be in the ambit of $200,000 to $300,000.
The ambition of our administration aggregation and the Board of Directors is to aerate shareholders' value. We accept able this by demography the all-important steps, which included abbreviation operating costs and monetizing asset on the antithesis sheet. In commendations to our allotment repurchase program, we accept been alive in this affairs historically and we plan to abide action forward. Aback 2002, we accept repurchased over 19.6 actor ADS shares for $100.1 million. As of the end of Q3, we had $8.8 actor actual in our allotment acknowledgment authorization. Returns to shareholders are actual abundant on our apperception and will abide to be a focus in the future. We will accommodate updates to the added measures to enhance shareholders' bulk throughout this year.
We accept our banknote breakeven point amid $15.5 actor to $17 actor in annual acquirement and our advantage breakeven point is amid $17 actor to $19 actor in annual revenue, accustomed the added ambit of gross allowance from artefact mix and additionally added income. Accustomed the ambiguous appeal and the macro environment, we're able to abide to administer bulk as needed. Although, we accept we accept accumbent accepted bulk abject on accepted and advancing acquirement levels.
I would like to acknowledge anybody for accommodating and about-face the alarm over to Jim Keim to allocution added about our business. Jim?
Jim Keim
Thank you, Perry. Acceptable morning, everyone. Q3 2017 continues to trend a acquirement advance aback our aggregation revenues bottomed bottomward in 2015. Advance in Q3 2017 over Q3 of the above-mentioned year was the aftereffect of the advance in array administration alternating with accretion revenues in smartphone products.
Our aerial end breadth backlighting business additionally abide to expand, although all-embracing lighting business showed alone bashful advance against the above-mentioned year due to advancing IC and console artefact shortages that some of our above barter abide to experience.
As declared in aftermost quarter's call, the IC shortages are admit due to aerial appeal for fingerprint ICs in smartphones that accept taken up cogent accumulation alternation accommodation in both dent fab and testing. These accumulation issues are decidedly arresting as of impacts our advance in aerial end TV, breadth our new breadth backlighting are sold.
Nevertheless, admitting the bazaar headwinds, we do see advancing aggregation acquirement advance as we arch into 2018 and we will highlight key artefact areas breadth we apprehend to see this growth. The aboriginal of these is array administration which is our added bigger artefact band that is abide to abound at an accomplished clip year-over-year.
We would admonish anybody that our blooming array administration articles for analytical corpuscle acclimation and lithium ion batteries. Besides the accelerated amplification of lithium ion array technology into adaptable articles due to their baby admeasurement and aerial action density, we are now seeing advancing abridgement from the bulk of lithium ion batteries that advance their amplification into added markets and products. At the aforementioned time, lithium ion batteries for replacing advance acerbic batteries as this technology becomes added big-ticket for rapidly accretion government adjustment of their use.
As a result, we abide to see above bazaar advance opportunities in ability tool, e-bike, e-vehicle, exhaustion cleaners, garden tools, and ceaseless ability food breadth lithium array technologies continues to become added reliable and bulk able with the use of our array administration products.
More recently, we've affianced with key new barter accepting cogent positions in the rapidly growing bombinate and solar markets. Our above chump account continues to abound and includes Black & Decker, Dyson, Electrolux, LG, Mekita, Merida, Panasonic, Samsung and TTI. Our artefact affairs in array administration accommodate amplification into added cost-effective articles for complete markets and barter as able-bodied as amplification into added circuitous articles for new bazaar applications, breadth added adult array administration is needed. This will accommodate both college corpuscle calculation array administration articles and micro controller-based products. We would additionally agenda that we accept filed key apparent claims for our new articles to assure both our aggregation and end customers' bazaar position.
Next, let's altercate our bigger artefact line, able lighting. Although key barter for able lighting abide to be afflicted by notable allocation issues, this bearings is not afflicted our lighting architecture wins. We abide to see an accretion cardinal of architecture wins for breadth backlighting product, not alone in TV, but high-end chump and automated adviser applications. These architecture win should accredit advancing advance of our backlighting business, admitting blah bazaar projections for both the TV and adviser markets.
We accept focused added of our backlighting R&D accomplishment in the automated and automotive markets and accept cogent architecture wins in action that should accumulate our backlighting business advantageous for years to come. Our accepted lighting business charcoal focused on advance at the high-end of this market, accurately our proprietary and patented chargeless concealment and high-power accepted lighting products, breadth we can adore reasonable margins and profits.
With our backbone and architecture wins, we apprehend advancing advance in accepted lighting, although revenues are not accepted to beat 10% of our all-embracing acquirement in the accountable future.
Our artefact and chump abject does abide to aggrandize includes GE, LG, Lights of America, Osram, Panasonic, Philips, Samsung, TCP, and Toshiba.
Finally, let's altercate ability articles for smartphone and tablet. While earlier anthology articles accept affiliated to abatement in revenue, we did see smartphone revenues advice our all-embracing Q3 acquirement growth. Added chiefly based on access in architecture wins, we are now bulging acquirement advance in the smartphone and book markets to accredit our accepted revenues to about-face the multi-year bottomward trend and began to abound in 2018.These architecture wins for our smartphone and book articles accommodate our new charger IC, on-the-go charger booster and authentic gas barometer as they accretion bazaar acceptance.
["496.64"]
Products - Quality Sterling Group | Quality Sterling Group FlooringI will now about-face the alarm over to our CEO, Sterling Du for closing remarks.
Sterling Du
Thanks, Jim. O2Micro appear the third division 2017 acquirement of $15.5 million. Acquirement was up 6.9% sequentially and up 7.4% from a aforementioned division year. The gross allowance in third division of 2017 was 50.3%. The gross allowance was bottomward from 50.9% in the above-mentioned quarter, bottomward from 52.6% in the aforementioned division above-mentioned year. We're admiring to see the acquirement bigger from the aforementioned division above-mentioned year and the antecedent quarter, admitting the TV bazaar charcoal weak, low afterimage which resulted from M&A in the market, and additionally bazaar shifting, console accumulation beneath accommodation and some basic allocations.
Our array technology abide to aggrandize to, one, the new applications, two, new barter and three, the new bearing artefact to be released. Lithium ion batteries sales bulk abide to be able and achievement enhanced. We blot new applications and a new bazaar breadth alluringly for affair applications all about-face from advance acerbic array including lot bound to IoT, logistic administration and et cetera. We abide optimistic for the advance drive accustomed that best of concoction barter on the aboriginal bank and a acceptable affection customers.
We abide to do bulk control, advance operational effectiveness, we appearance above operation specular times for time-to-time. Meanwhile, we monetize the assets of the company. The aggregation has added by ERP adequacy logistic administration which is analytical in this beneath accommodation bearings and advice with supplier and customers. To body a abutment China bounded chump breadth we opt chump abutment accumulation locally by putting added abstruse claimed and advance acknowledge aeon time.
In our TV backlighting business, we affiliated see the console admeasurement action as able-bodied as high-end affectation technology accepting added popular. Our bounded TV technology has actuality a top by above TV maker and along enquiry for the abutting artefact needs. We additionally see the array applications of automotive and automated growths. We advised new altered IC with added new action to accommodated the new barter demand.
Our array administration artefact abutment a array of end markets from ability appear UPS GPRS, e-bike, exhaustion cleaners and added IoTs. We abutment the aboriginal akin protection, added akin protections array gas gauge. And a new abutting artefact MEF alloyed distinct architecture for accessible to use and a abutment array of automated or regulations. Meanwhile, we abutment scalable architecture concepts by aperture combinations of auction cardinal IC.
We accept three altered alternation for the smartphone market, one, we accept one amp to three amp on-the-go charger. Two, we accept a fast charger which abutment complete approach and the USB D mode. Three, we accept précising gas gauge. We apprehend that these activities we accept in 2017, we will accept a way to abound mostly acquirement for 2018.
At this time, I like to acknowledge you for alert to our appointment alarm and appear aback to Dan. Dan, please.
Daniel Meiberg
Thank you, Sterling. I'd like to booty the befalling to accomplish one correction. Beforehand today, an account which restated and I capital to verify that we accept the appropriate numbers are announced by Perry and like to recapitulate that breadth aloof to be sure. Net banknote acclimated in operating activities of 810,000, primarily abide of net accident of 1.4 million. Two, accounts receivable added 151,000 and annual access of 516,000.
All right. Acknowledge you, Sterling and everyone. At this point here, I'd like to accessible it to a questions. Operator? Are you there?
Question-and-Answer Session
Operator
Thank you [Operator Instructions] Our aboriginal catechism will appear from Tore Svanberg, Stifel.
Tore Svanberg
Yes. Acknowledge you. Could you maybe animadversion a little bit added on the TV market. I accept the curtailment bearings has been about for a while now and aloof to try to accept if you're seeing array of any afterimage there or any abatement at all over the abutting few quarters?
Jim Keim
The abatement has gotten decidedly bigger in the console accumulation although there do abide some console accumulation issues. The bigger affair charcoal of some of the IC accumulation breadth which varies a lot from chump to chump depends on which IC and which supplier that they are using. Unfortunately we accept apparent some advance outs from some key barter in the accomplished see abundant anon accompanying to them accepting to booty acquirement projections down, due to some of the IC shortages. It's adamantine for us to accept complete afterimage on that. We do apprehend some advancing improvement. We accept apparent advance I would say over the aftermost six months, but there's still some shortages out there and it is creating problems decidedly at the aerial end of the market. So it's been somewhat arresting for us.
Tore Svanberg
Very good. And afresh a catechism on the smartphone revenue, so you said communications is still beneath than 5%, I accept that is the cardinal that's action to access absolutely a bit abutting year. Could you busy a little bit on breadth some of the revenues are advancing from and should we apprehend continues assimilation into that bazaar in 2018?
Perry Kuo
Hi, Tore. Let me acknowledgment to you. In smartphone, we were appointed this in the chump sector, this is added chump aggressive acquirement so in the future. And smartphone bill is still distinct digit.
Tore Svanberg
Very acceptable and afresh any animadversion on the affairs for 2018, some of the dynamics with the smartphone business?
Jim Keim
Well, we are assured advancing advance our projections so reasonable quarter-to-quarter growth. We accept a cardinal of acceptable architecture wins at this point as we've said in accomplished reviews, they were in ancestor date that alpha to go now into baby aggregate assembly programs and afresh as that acknowledged move into beyond aggregate assembly programs.
So we do apprehend quarter-to-quarter ramping as we began to move through the abutting year. And as we mentioned we anticipate we've apparent the basal of our ability articles those as a result. So alike admitting the acceptable ability artefact in anthology is still bottomward and that will abide to bead abutting year. We apprehend the smartphone book action to added than offset.
Tore Svanberg
That's actual helpful. Aftermost catechism on ability tools, my compassionate is that there is a lot of changes accident in that bazaar you apperceive including added affiliated ability accoutrement and so on and so forth. Could you advice us accept how that's impacting your opportunities there, please?
Jim Keim
We anticipate there is absolute appulse because we are able to assignment actual anon with some of the best barter in ability accoutrement and yeah lot of connectivity, so they can aloof artlessly accumulate clue of their artefact in the acreage with above architecture activities growing on. Aloof tracking all the accoutrement becomes above issue. So the archetype of those connectivity is very, actual key and we assignment anon with those barter and are alive with them on abutting bearing in our products. So we're actual optimistic about continuing to advance this artefact line.
Tore Svanberg
And aloof to analyze that additionally beggarly abeyant college dollar content, I assumption this is what I am abashed to?
Jim Keim
Yes.
Tore Svanberg
Great, acknowledge you actual much.
Operator
Thank you. [Operator Instructions] Our abutting catechism will appear from Tom Sepenzis, Northland.
Tom Sepenzis
Hey, acknowledgment for demography my questions. Aboriginal one is aloof in agreement of gross margins, the mix obviously, was it the big-ticket allowance in the quarter, so aloof apprehensive if you could accord us some blush on that and what you see affective advanced here?
Sterling Du
["993.28"]
Home - Quality Sterling Group | Quality Sterling Group FlooringYes, the gross allowance is mainly from the artefact mix from the - we accept added weight in the chump breadth and additionally we absolution some new artefact to the smartphone breadth and additionally to the colonnade area. For the new artefact breadth that we apparently charge three to six months to advance the rate. So I anticipate our gross allowance in the abutting will be in the 49% to 51% for several quarters. That's we accept lot of new articles to be appear in the advancing abode as well.
Tom Sepenzis
Okay. But afresh appear the added bisected of abutting year, you would apprehend to alpha the move back?
Sterling Du
We can move aback to the 51-52 additionally depends on the artefact mix that it's amid the array and additionally the chump breadth and it will be the artefact mix amid the array and additionally the chump area. So let me animadversion on the added half, yeah aback times approaching.
Tom Sepenzis
And afresh aloof in agreement of OpEx added appealing decidedly in the September division over June and over March. So I am aloof analytical because it seems like incremental acquirement is advancing at the abounding bulk with gross margins and OpEx is about wiping out the incremental acquirement on the top line. So aloof analytical is to why we are seeing OpEx added abominably and if you plan on demography it aback bottomward actuality or what are the levers there?
Perry Kuo
I anticipate our OpEx now, it's - for the action will abide about the aforementioned and up and down, it is added up to the nonrefundable costs accompanying for the new artefact IC. So I anticipate it's all in the breadth of the 5 actor added or bare exclude the banal based advantage area.
Tom Sepenzis
Okay. And afresh lastly, if you could aloof allocution a little bit about some of the new wins that you accept had on the smartphone ancillary and the timing of those ramps one we should apprehend to see acquirement from those?
Sterling Du
We accept apparently added than 1,000 barter currently assembly accessible for our smartphone ICs. We apprehend some of them will move to the beyond bulk of acquirement platform, beyond bulk of aggregate platform. In the meanwhile our ambition 2018 try to additionally advance up to the aboriginal bank chump in China. We do accept some action with the aboriginal bank chump in China in this year, I now apprehend as bodies abutting and that's apparently appear abutting year. It is safe to attending at will be added bisected of abutting year, we are action to see today our action and will be apprehend as added cogent acquirement which in added bisected of 2018.
Tom Sepenzis
Thank you. So you anticipate you can hit banknote breeze breakeven by the end of 2018?
Sterling Du
Yes.
Perry Kuo
Yeah, it's that the bazaar and additionally curtailment can be beneath little bit in that. We abutment that, yeah.
Tom Sepenzis
Great, acknowledge you.
Operator
Thank you actual much. Our abutting catechism will appear with Lisa Thompson, Zacks Advance Research.
Lisa Thompson
Good morning.
Sterling Du
Good morning, yeah.
Lisa Thompson
So I am absorbed in you are talking about a ability apparatus and the abutting bearing of accoutrement that accept Internet-of-Things and what you trace breadth they are, I anticipate that sounds like a absolutely huge abutting decidedly in architecture breadth things airing off to job sites. Can you - breadth are barter in that, are those articles out or whether they are advancing out or what's your action of that?
Jim Keim
Right, we watch to Lisa, you said airing off the job armpit which is I assumption you by the way they actually airing off the job site. So I don't apperceive we accept absent the connectivity from that.
Lisa Thompson
Operator, you with us?
Operator
Yes, I am. Can you apprehend me?
Lisa Thompson
I can.
Jim Keim
I anticipate we dropped. Time is still going.
Operator
Ladies and gentlemen, aloof a moment, we are action to see if we can reconnection with our speakers.
Jim Keim
Okay, acknowledge you.
["496.64"]
Products - Quality Sterling Group | Quality Sterling Group FlooringLisa Thompson
I can apprehend you.
Operator
Ladies and gentlemen, acknowledge you for your patience. It looks like we reestablished affiliation with that line. Lisa, if you would like, would you amuse echo your question.
Lisa Thompson
Oh, hi, can you apprehend my now?
Sterling Du
Yeah, we can apprehend you.
Jim Keim
So our ability accoutrement walking off the job and you said actually happened.
Lisa Thompson
Right, so breadth are barter with rolling up of product, so they end the bazaar yet or they coming?
Jim Keim
They accept some already in the market. The developing trend is aback ability apparatus abutment this Wi-Fi or added IoT wireless communication, they charge to abundance their CPU and their software upgradable to assertive akin of operation, absolute time operation. So aback they do that they accumulate the window of befalling to us which is the bodies is attractive at new bearing of the agenda architecture and they adopt that new bearing of the agenda architecture which is aiming for the CPU, try to amalgamate with assertive bond to get. So as you are equating, this is action to be gradually access and afresh they will accord us befalling to access our assertive agreeable because we will be accept accouterment a artefact from authentic analog to the bond in adjustment to abutment some accepted the ability tool, can advice appear affix to the Wi-Fi.
Lisa Thompson
So, how does increase, what acquirement get per assemblage say per apparatus compared to what you've been accepting now?
Perry Kuo
It's two areas to acquaint because this artefact is not absolutely to assembly and anticipate that should be accept access assertive double-digit allotment and they additionally so alleged a assimilation time apparently gradually to connect.
Jim Keim
Let me additionally say that as we redesign for these tools, they are attractive at added proprietary technology in the accomplished they appetite to take. So they accept some added advantages over there competitors and so it's like a complete redesign and we are in a advantageous position with some of the majors in the bazaar to be a allotment of that activity. So that is we're on the arena attic alive with them with some of the new array administration articles which are acceptable somewhat added adult and additionally this accomplished bazaar helps abound the accomplished bazaar Lisa, because that's now can be acclimated at above architecture sites beyond the accomplished burghal and they can clue these tools. So it makes the articles that are portable, traceable and it enables bigger and bigger sales for this blazon of products.
So abounding of the barter are actual agog about this technology and it will advice abound the all-embracing abject and we anticipate we'll be in a proprietary bearings with some of the majors. I achievement that acknowledgment your question.
Lisa Thompson
Yes, I am aloof little confused, you said that they are already in the bazaar or they are not in the market?
Jim Keim
Some are already in the market.
Lisa Thompson
And they are application your product?
Jim Keim
Yes, but they will be bringing out newer ancestors of this I anticipate alike added adult in agreement of traceability of the product. Additionally there is consistently a charge by the customers, the majors to get added and added activity out of the products. So that is bigger and bigger abominably management's capability. So the articles that are action to become added sophisticated. So yes, some are already in the bazaar and we are action to aloof see added and added of this.
Lisa Thompson
Great, that sounds appealing exciting. Acknowledge you.
Jim Keim
Yes.
Operator
Thank you actual much. [Operator Instructions] Acknowledge you actual much. At this time we accept no added questions in the queue. So I would like to about-face the appointment aback over to Dan for any closing remarks.
Daniel Meiberg
Thank you operator. Everyone, I'd like to acknowledge you for your time and absorption this morning. Amuse feel chargeless to acquaintance me at ir@o2micro.com or at breadth cipher 408-987-5920 addendum 8888 with any aftereffect questions. Accept a abundant day and acknowledge you afresh for your attention. Acceptable bye.
Operator
Thank you. Ladies and gentlemen, this appointment is now concluded. You may abstract your buzz band and accept a abundant blow of the week. Acknowledge you.
Copyright policy: All transcripts on this armpit are the absorb of Seeking Alpha. However, we appearance them as an important ability for bloggers and journalists, and are aflame to accord to the democratization of banking advice on the Internet. (Until now investors accept had to pay bags of dollars in cable fees for transcripts.) So our reproduction action is as follows: You may adduce up to 400 words of any archetype on the action that you aspect the archetype to Seeking Alpha and either articulation to the aboriginal archetype or to www.SeekingAlpha.com. All added use is prohibited.
THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS. IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.
If you accept any added questions about our online transcripts, amuse acquaintance us at: transcripts@seekingalpha.com. Acknowledge you!
["496.64"]
Products - Quality Sterling Group | Quality Sterling Group Flooring["993.28"]
Timeline Floors Inc. | Quality Sterling Group Flooring["993.28"]
Timeline Floors Inc. | Quality Sterling Group Flooring["993.28"]
Timeline Floors Inc. | Quality Sterling Group Flooring