Question-and-Answer Session
Operator
Thank you. (Operator instructions) And our first question will come from Terry Tillman with Raymond James.
Terry Tillman – Raymond James
Hey gentlemen, good afternoon.
John Heyman
Hi, Terry.
Terry Tillman – Raymond James
Thanks for taking my questions. Nice job by the way on the quarter.
John Heyman
Thank you.
Terry Tillman – Raymond James
One thing John, in terms of – could you maybe give us some commentary, I know you gave us a little bit in the prepared remarks and the press release about kind of some of the positives that you are seeing maybe in end markets or a stabilization, but anything that’s interesting in terms of how the quarter played out in terms of close rates month to month and then into April? I mean, are you seeing close rates improve or predictability improving at all?
John Heyman
Well, I feel like we’ve – I feel like the business has been predictable. It’s just we saw business in the first quarter – in the fourth quarter and continuing into the first quarter decline, but the good news is we saw that decline stagnate during the quarter and the things actually settled and in some parts, actually did turn up.
So, we are continuing to base our forecast on that kind of lower level of demand, but there are some good signs out there in terms of the channel. In terms of direct business, why don’t I let Andy speak to that and you can add any color to my comments?
Andy Heyman
Sounds good. Yes, I think in terms of the specific question of close rates and staying on schedule for any kind of material rollouts for the year, the way I see things right now is it – it’s been in the direct side of the business, pretty much business as usual. Some areas are – we see some acceleration in some areas and push-offs, but as John said on the channel side, we are being ultra-conservative as we look at the next few quarters in terms of what we are anticipating to occur.
John Heyman
The only other thing I would add is on a couple of major rollouts that were deferred. We are in discussion with one of the customers who is now trying to – they would like to get the rollout back scheduled. We are again not counting on that as of yet and another one is looking to see if they could get some creative financing. So, they could kind of match it up as an operating lease and we are working with them on that. So, the signs are good, but we are going to continue to be cautious.
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