Omni-Lite Industries Canada Inc.

Q3 2021 Earnings Conference Call


spk_0: you're dealing and gentlemen and welcome to the army like industries to better caucus call all my haven't played on a listen only mode and for will be open for questions and comments following the presentation if you should require assistance throughout the conference please press bar there i have telephone keypad to reach a lot operator at this time it is my plan either to kind of floor over to your whole crowd leaders for to floor of your
spk_1: and you very much
spk_2: good morning
spk_1: and thank you all for joining us which is today is our chief executive officer dave robinson or cause been recorded and will be available for playback the details which are contained in our press release released yesterday morning monday november twenty second the purpose of this call is to provide an update on the only lights financial performance and operations as we filed our third quarter two thousand and twenty one results yesterday morning after our marks been open up the line for tonight if is not received or seen a copy of all a press release which we issued yesterday morning you can find it on our website at www dot on the heightened light dot com or email us the day a de da robbins that on the ice and like dot com or si dot meters add on you ice and dot com to request a copy before we get started i'd like to remind you that today's discussion will or may include forward looking statements which includes information regarding on the lights performance based on our views of the company's business and the environments in which they operate our future plans objectors business prospects and anticipated financial performance
spk_3: these forward looking statements are subject to future risks and uncertainties that could cause our actual results or performance to differ materially we are also mindful of the risk that impacts of changes in the health of the general economy including the effects on the current cold it until the pandemic us commercial aerospace markets and the us department of defense budget
spk_2: all forward looking statements should be considered in conjunction with cautionary statements contained in our press release and the risk factors including do not like he dark violence
spk_3: the company disclaims any obligation to update inequality statement that may be discussed during this call
spk_1: i'd also like to mention that in addition to reporting financial results in accordance with international financial reporting standards or i or us during our call he made discussed or weapons non i have us financial measures the typically adjusted either dot com former adjusted either die and for gas flow a reconciliation of these not i'm ira networks if applicable is included and i see that filings and presley's lastly unless noted any reference or discussion of our producer results on that decks out us dollars
spk_3: i'd now like to turn the called today days
spk_1: thanks call the day every want to thank you for joining us on today's third quarter fiscal twenty twenty one investor call our agenda for today is call is as follows first i will make a few comments about a third quarter results
spk_3: follow by some remarks in our current business and strategy and then car will conclude cooler portion of the call would review of our recently reported results
spk_1: a fiscal twenty twenty one third quarter revenue of one point six million was up thirty six percent sequentially over twenty twenty one second quarter revenue largely from increases and commercial aerospace and defense electronics markets third quarter twenty twenty one marked the start of commercial aerospace recovery and future strike in the in defense program funded a mighty sixty six cave adjusted ebitda the quarter was an approval of one hundred ninety two k of adjusted ebitda in cute too
spk_3: ah and largely the result of increased operating leverage from high revenue an ongoing close management of operational efficiency managing costs and and flows wow outlook we see more evidence the early stages of commercial air space recovery pointing towards for the recovery and twenty twenty two
spk_1: our current funded backlog of over one point eight million coup several defense products which have long term viability have potential future growth the pipeline for new wins development includes electronic components jews and missile defense in the air superiority platform system upgrades munition components
spk_3: titanium engineer fastener components used the lightweight the structures and high strength and three components for increase fuel efficiency we also in the final stage of our sale these back crosses of a real estate holdings and look this to help fund our investments in organic and acquisition club
spk_1: but that like determine call over the how i said
spk_3: david address the revenue to just be the softest make a few comments regarding cash we cast well defined as cats love my operations minus capital expenditures was approximately a use of two hundred and thirty six thousand dollars as compared to use of nine two thousand dollars in the second quarter of two thousand and twenty one increased use the cash was the retreat account sea bubble associated with the eat sales in the third quarter
spk_1: finally for the last twelve months out to and a cliff and twenty nine percent decrease in sales or cash position which is currently at one point three six seven million is the same as it was last year at this time
spk_3: why would he received four hundred thousand dollars and people to funding and the last twelve months is also speech to are highly focused attention to cash in spending management during this very challenging period
spk_0: this complete are prepared remarks with now like to open the car for question thanks to the floor of now open for question if you do have a question free press star one i a telephone keypad at this time questions will be taken in the order they were if at any time your question has yet can remove yourself from the queue by pressing one again ladies and gentlemen if you do have a question please press star one i cell phone keypad at this time the whole what we call for questioning
spk_4: can we have a question for man you are kramer please state your questions
spk_5: guy and that the and yeah we yeah thank you for a good course our collection
spk_6: he
spk_7: the supply chain problem does doesn't affect you an infant affect you
spk_1: can you increase prices
spk_3: cause of that so we we'd we'd have been affected in in a small way with supply chain but we've offset that with making some small strategic purchases of it you know we don't get hurt by supply supplies we rate we were able to do that
spk_1: interestingly enough and still reduce argument toy levels but we're managing that so we're we're we're keeping an eye on that and we we have seen the inflationary effects of raw materials and and have adjusted or in the process out and will continue to look at pricing
spk_3: it's it's an ongoing issue especially with now in on on electronic side it's it's more of a question of supply
spk_8: and on the metal forging side it's it's price and supply there's been a
spk_0: quite a bit of increase in costs around the trails on on that side of things that well we're watching very closely
spk_9: thank you
spk_1: again ladies and gentlemen if you do have a question the press r one telephone keypad at it
spk_0: mccain it doesn't look like we have any further questions

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