Earnings Call Excerpt
Del Global Technologies (DGTC)
F1Q09 Earnings Call
December 5, 2008 11:00 am ET
Executives
[Girard Lobo]
James A. Risher – President & Chief Executive Officer
Mark A. Zorko – Chief Financial Officer
Presentation
Operator
Good day everyone and welcome to the Del Global first quarter 2009 financial results conference call. At this time I would like to inform you this conference is being recorded and that all participants are currently in a listen-only mode.
I will now turn the call over to Mr. [Girard Lobo]. Please go ahead, Sir.
[Girard Lobo]
Good morning everyone and thank you for joining us today. Jim Risher, Del Global’s President and Chief Executive Officer and Mark Zorko, Del Global’s Chief Financial Officer will be hosting today’s call.
Before we get started I’d like to remind everyone that statements about future results made in this conference call may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations in the current economic environment. Del Global cautions that these statements are not guarantees of future performance.
These statements involve a number of risks and uncertainties that are difficult to predict including but not limited to the ability of Del Global to introduce products as scheduled, obtaining necessary product certification, implement its business plan, retention of management, changing industry in competitive conditions, obtaining anticipated operating efficiencies, securing necessary capital facilities, favorable determinations of various legal matters, market and operating risks from foreign currency exchange exposures and favorable general economic conditions.
Actual results could differ materially from those expressed or implied in the forward-looking statements. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the company’s filings with the Securities and Exchange Commission.
I’d now like to turn the call over to Jim Risher, Del Global’s President and Chief Executive Officer.
James Risher
Thank you and good morning everyone. Thank you for joining the Del Global Conference Call. I hope you all had a good Thanksgiving. I’m going to spend just a few moments highlighting the financials and Mark Zorko is going to go into more detail. I’d like to spend more time talking about some of the milestones we have achieved this quarter.
But I would like to begin by commenting on sales. Sales for the quarter were $22.3 million which was down about $4 million from the previous year. Some of you may recall that during the last fiscal year we were in the midst of completing a very large tender in Russia. We completed that tender in terms of its shipments prior to this first quarter and as a result our international results on the medical sector were somewhat down. The business was actually somewhat ahead of last year on a sort of non-tender basis if you will, excluding the Russian tender. But at the same time I wanted to say in that same period of time the elections were going on in Russia and that tends to be a very strong market for us and was slowed somewhat by the electoral process.
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