Earnings Call Excerpt
Heelys, Inc. (HLYS)
Q1 2008 Earnings Call
May 8, 2008 4:30 pm ET
Executives
Ralph Parks – Interim CEO
Mike Hessong - CFO
Don Carroll – Senior VP Marketing
Analysts
Mitch Kummetz – Robert W. Baird
Unidentified Analyst
Todd Brooks – Alydar Capital
[Ivan Swick] – Raymond James
Presentation
Operator
Good afternoon ladies and gentlemen and welcome to the Heelys, Inc. first quarter fiscal 2008 earnings conference call. (Operator Instructions) Before we begin, I would like to remind everyone of the company’s Safe Harbor language. Please note that this call will include forward-looking statements within the meaning of the Securities laws. All forward-looking statements included in this call are based on information available to the company on the date of this call, the company's current expectations and various assumptions. The company believes that there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. The company may not realize its expectations and its beliefs may not prove correct.
For a list of important factors that could cause the company’s actual results to differ materially from the forward-looking statements in this call, please refer to the company’s public filings with the SEC, including the risk factors contained in the company’s Annual Report on Form 10-K. You are encouraged to read that section and all of the company’s other filings with the SEC. The company intends that all of its forward-looking statements in this call will be protected by the Safe Harbor provisions of the Securities Exchange Act of 1934.
The company undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, further events or otherwise. All subsequent written and oral forward-looking statements attributed to the company or persons acting on the company’s behalf are expressly qualified in their entirety by the cautionary statements contained throughout this call and the company’s public filings with the SEC.
I would now like to turn the conference over to the Interim Chief Executive Officer, Mr. Ralph Parks. Please go ahead, sir.
Ralph Parks
Good afternoon everyone and thank you for joining us. With me today on today’s call is Mike Hessong, our Chief Financial Officer and Don Carroll, our Senior Vice President of Marketing.
Overall our first quarter results were pretty much in line with our internal projections. As everyone is probably aware the first few months of 2008 have proven to be a very difficult period at retail in the United States particularly for footwear and apparel. That said we did see some positive progress towards improving the average selling price at many of our accounts. Equally important retail sell-through during the first quarter remained solid which helped further reduce the level of inventory in the channel as we approach the summer and back-to-school season.
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