Earnings Call Excerpt
Dynamex Inc. (DDMX)
F1Q08 (Qtr End 10/31/07) Earnings Call
December 6, 2007 11.00 am ET
Executives
Kevin Unger - Director of IS and Corporate Support
Richard McClelland - President and Chief Executive Officer
Ray Schmitz - Vice President, Chief Financial Officer and Assistant Secretary
Analysts
Robert Dunn - Sidoti & Company
Presentation
Operator
Greetings ladies and gentlemen and welcome to the Dynamex Incorporated first quarter fiscal year 2008 earnings conference call. (Operator Instructions) It is now my pleasure to introduce your host Mr. Kevin Unger. Thank you Mr. Unger, you may begin.
Kevin Unger
Thank you Doug and welcome to this Dynamex conference call to review the company’s results for the first fiscal quarter of 2008 which ended October 31st 2007. Conducting the call today will be Rick McClelland, Chairman and Chief Executive Officer and Ray Schmitz, Vice President and Chief Financial Officer.
Before we start, let me offer the cautionary note. This conference call contains forward-looking statements that involve assumptions regarding company operations and future prospects. Although the company believes its expectations are reasonable assumptions such statements are subject to risk and uncertainty including among other things, the effect of the changing economic conditions, acquisition strategy, competition, foreign exchange and risks associated with the local delivery industry. These and other risks are mentioned from time to time in the company’s filings with the SEC. In light of such risks and uncertainties the company’s actual results could differ materially from such forward-looking statements. The Company does not undertake any obligation to publicly release any revision to any forward-looking statements contained herein to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Caution should be taken that these factors could cause the actual results to differ from those stated or implied in this and other Company communications.
With that stated I’ll turn the call over to Rick McClelland.
Rick McClelland
Good morning everyone and welcome to the call. I am very pleased with the financial results we achieved during the quarter. Our growth rate was on track versus expectations. Gross margin was on track, as was SG&A. Salaries and benefits as a percentage of sales increased a little but this was a result of a number of decisions made related to staffing increases that are helping us further accelerate our growth rate and enhance profitability. Our balance sheet remains very sound and strategic flexibility is a tenth. We continue to operate in an economy that’s a little hard to read or sort out. Issues like how long will the sectors that have been impacted continue to be impacted and are any new sectors going to become impacted?
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