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4cb23ecce100eef12f06bb6effb0d2a5 | Yeah, just wanted to maybe dig in a bit on the industrial side, it was off a little bit sequentially, just kind of curious if there was anything in particular from the industrial perspective that might be either shifting around or moving a bit. | Not really. If you look at it year over year, it grew something like the 25%, 26%. So that shows how well it has done -- it is doing. There are some cyclical issues where industrial is usually weaker in Q1, but we are actually growing our share very nicely in many areas like IoT, power tools and so on. So there is noth... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
c472fc13e07b62466803436c7ef0185d | And then maybe just from the ongoing China and the COVID lockdown. I know you talked about this a bit on the call already, but is there anything that you're seeing there may be from a supply or a demand side that you think is going to be impactful the second quarter, maybe even a third quarter? Just, how do you think a... | The lockdowns surprisingly are maybe we were very fortunate it didn't affect any -- our ability to sell to our customers. We don't have any major customers in Shanghai area. The Shenzhen lockdown was a relatively short lived and other areas have not impacted us. What it did do was really complicated our logistics. When... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
8b5f3a94a2f67d89a1bfb682c1616676 | But just from a compute standpoint and the volumes, there's a lot of discussion there about what the volumes could be this year, but we're hearing of a better mix into the enterprise and maybe pro-consumer type applications. Are you seeing something similar? And then, is there any way to kind of parse out to your poten... | The good news for us in the computer market is we have such a low share of the notebook market. It almost doesn't matter what the overall market is doing because we have a lot of room to grow and we expect computer to be a very strong growth segment this year for us. We already have won number of notebook designs that ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
d28fe22179b4f2eb62413efce01a91a7 | Hi, this is [Inaudible] asking on behalf of Ross Seymore. My first question is you had a great upside to gross margin, both in the print and the guide. Could you talk about what were the drivers here? How much was pricing versus manufacturing efficiencies, and then I'll ask my follow-up. | As I talked about on my -- in my script, basically manufacturing efficiencies have helped us a lot in this and I'm not to quantify each one, but the pricing, the way it works for us is that we do value pricing. So, we just value with all the discretes that we eliminate and the reason our Q2 margin is going up is becaus... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
6fcfe74624ac52c017101429af4b27a3 | Thanks. And the follow-up of that, you have been now been at the high end of your growth margin, long term gross margin range with that -- given that and what you're modeling. Do you expect one, your prior target of 53% to 54% range for the full year to upside and is this going to be the new baseline going forward long... | It's a good question. So for this year, again, it will depend on what's going to happen in the second half, which Balu mentioned is hard. But typically, what happens in Q3 is air conditioning also tends to taper off. So, along with the pricing pressures, you are going to see the mix also have a little impact. So as a r... | intermediate | [
"direct",
"intermediate",
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] | B |
b2d1201a7fea95f94caec7db0009c1c7 | Yes. Good afternoon. This is Jeremy calling for Tore. A quick question on -- in terms of the backlog coverage for the current quarter. Am I correct in understanding that you have -- it's fully covered in backlog as of the -- as of right now? | Yes, that's correct as to the midpoint. | direct | [
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"intermediate",
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] | A |
c92aeb8d664dbbb274222dfe0b8f79be | For the midpoint. Right. So if there's additional terms orders, is it possible to have some upside in that situation? | Yeah, that's a good question. Surprisingly, because of the supply situation, people are booking way ahead. So our turns business is relatively small. It's actually quite very small compared to what it used to be and we also have to assume there could be some push outs. In fact, they've seen that in every quarter. So wh... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
86b2194384a40120e7ac0ea78140ad1d | And just to follow up on that, if there's some shifting in terms of some people pushing out orders, some people wanting to take orders that, absorb those shifts, how fungible is the inventory whether it's cellphone manufacturers from one to the other. Can you give us any color on that? | Well, one of the things we have done actually very well, especially compared to other companies, as I've heard, is that we are very careful to shift to real demand. And the way we do that is we monitor the distribution inventory. By the way, 75% of our revenue could go through distribution. So we don't ship unless they... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
31da24bd2d96a875d2da5e132bf342b1 | Great. Thank you. And as a second question, I guess the, your new I guess automotive qualified switching IC with the integrated silicon carbide mosfet, is this your own silicon carbide mosfet that you're -- or can you help us understand, just have a little bit more insight into that product? Is it seems like a very, ve... | Yeah. This particular one is not our own technology. The volumes are not high enough for us to do it all although we could do it sometime in the future, I guess, but for the foreseeable future, we just outsource that particular die. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
19e7ca58900003583e83cd5f0e5e8798 | Great. And in terms of potential for seeing this in production, I understand automotive tends to have long development cycles, but EVs can sometimes see a little bit acceleration. Do you have a sense of how soon this could see market adoption? | Good question again. It depends on what application you are in. If you are, for example, a gate driver in an inverter for the main motor, that has like a four year to five year design cycle, because that becomes a safety component. But for example, this particular product goes into, what's known as an emergency power s... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
fdbbb8f2501a00dd27491e582224fe3c | My first question was, as we think about the pediatric and then potentially the booster opportunity, one of the most significant comments that you made on the call, which confirms one of our ideas was the ratio of packaging components to dosages perhaps being a little bit more on one-to-one than versus the initial roll... | Yeah. Juan, you're absolutely correct when you state that there's -- we're in discussions with our customers as they look at the various forms of delivery. And there is a -- obviously, we're involved with discussions about smaller units of doses per vial and/or moving toward the prefilled syringe, which you know, in ou... | intermediate | [
"direct",
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] | B |
cafe34b021578bf98b3643ae117abbba | And how would you characterize the inventory management trends across your COVID-19 vaccine customers specifically? Do you have any concerns about customers stocking up on inventory of packaging components, any pull forwards that you see? Or would you say that your current sales are pretty well aligned with the pace of... | Yes. Juan, within the vaccine distribution, our pace is well in line. In fact, we are engaged with the companies that have vaccines in the market but also the firms that are working on development of gaining the approvals to be into the market shortly, and those are on a regular basis, so we can stage our demand whethe... | direct | [
"direct",
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] | A |
7dcf5ed6e98f699857fa27697732f428 | Question on -- are you seeing orders on COVID-related products into '22 yet? I mean, what's their duration they want to look into at this point, Eric? | Yeah. Paul, when we look at our order book, roughly a third of it is COVID-related, and it is extended into 2022, so obviously, of what we're doing today, but the visibility we have is going into the following year. | direct | [
"direct",
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] | A |
514f74a60669e335eda16c47f4ffb356 | OK. And then how are you running on capacity at facilities globally? Are you hitting any ceilings yet, Eric? | Well, that's -- we are -- in certain areas, we're getting close to that capacity level. Obviously, as you know, we're running 24/7 multiple facilities, particularly around our high-value products. However, we're layering in various capital investments. The first wave will be completed in the next number of months.
And... | direct | [
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] | A |
71dbe8e22ee67c252cf0a283dbf284c7 | And then lastly, on the core biologics demand ex COVID, obviously seems to be accelerating. Could you talk to that and what your outlook is there? | Well, that's an area of excitement. I mean, obviously, a lot of areas within our company. But in the biologics area, it's a combination of two things. One is the number of new molecular entities being approved and our participation rate continues to be very, very strong.
And I'm pleased on how our teams are responding... | direct | [
"direct",
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] | A |
d775c0017025f581454dc3a515218e17 | Hey, good morning, guys. Congrats on the quarter. I guess my first question just on guidance. If I annualize your first-quarter revenues, I get to something above your guidance for the year.
What puts or takes could there be in the future quarters that would result in revenues being below this first quarter or maybe m... | Yes. So we called out in the prepared comments, there was a one-timer in there, approximately -- just close to about $12 million, which related to some cancellations that we had in there. And that was a one-time fee that we were able to recognize. And that was primarily around COVID.
So you got to back that out when y... | intermediate | [
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ffb2ec60b93390bb19082fa89a5f68d2 | Got it. That makes sense, Bernard. Thank you. And then a question.
It seems like a lot of these COVID vaccines are using FluroTec or NovaPure. Is the decision there just based on customer preference? Or are there any particular types of vaccines that require NovaPure versus FluroTec? | Yes. The types of vaccines that are in the market right now do require that barrier coat, which is -- which we and our partner, Daikyo, are very well known for in the industry with what we call the FluroTec, so fluoropolymer barrier. And so that has become the standard in the industry. And therefore, we're seeing that ... | direct | [
"direct",
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] | A |
8beaccf0b6e8e9817e364d3f59c61418 | Hi. Good morning. More than thank you for the work you're doing -- your organization is doing to get vaccines in arms on more recipient. And Eric, congrats on the ESG focus that you've put on, we noticed in our work that you're very, very highly rated in ESG despite what I would think would be some business model headw... | Yeah. I'll start, Dave, if you don't mind. And so, first of all, thanks for the comments. It takes the entire organization value behind the ESG, but that's part of the DNA of West for many, many years.
In regards to HVP, you're absolutely correct, majority of the incremental growth that we're experiencing here at West... | intermediate | [
"direct",
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3333236672c02b587cb7e9f14f9b0120 | Got it. So maybe that was a foul ball. I didn't completely miss the ball. But In terms of your -- Eric, your commentary on the high-end, just to be specific, you're talking NovaPure the very highest one? Or are you talking about a couple? | I'm talking about -- that's a good point, Dave. So I'm talking about from FluroTec vision all the way up to NovaPure. | direct | [
"direct",
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] | A |
73970962adac47756f02db094cece870 | OK. Got it. Got it. And then maybe another way to come at this is on the margin front.
So going back years, we've talked about high value as an overall bucket being -- generating gross margins probably north of 50% versus standard, maybe 30% or lower. Would you be willing to comment on kind of the overall gross margin... | Yeah. So going back to your last comment as well, if you look at where we're investing and where a lot of our capex -- the incremental capex is going. It's going to products like around FluroTec and NovaPure. So it is tracking to the higher end of high-value products and to support that.
And now, you're starting to se... | direct | [
"direct",
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] | A |
12d7fedc7deaa5db44596061a28a82bc | Could you maybe comment on the safety profile of Zynlonta in general versus other recent DLBCL approvals? And how do you see its position? | Yes, sure. Thank you for the question. So I think that's a good question. It's difficult to answer, of course, since these are not comparator trials. So I give you that caveat before we start the conversation. But in view of that, I think that the toxicity profile of Lonca that was demonstrated, I should say, Zynlonta ... | direct | [
"direct",
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] | A |
35f5ac13fd697541717ecf36f2fa4204 | Maybe what do you see is the potential implications of the NCCN guidelines in terms of use potential? Could you comment on that? | Yes, certainly. Thanks, Chris, and thanks for the question. In terms of the NCCN guidelines, we're very pleased. Well, one, first, proud of the team at ADC Therapeutics for submitting the guideline request on the same day as FDA approval on April 23rd. We're equally happy with the swift update from the NCCN treatment g... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
66227efc9b65ee59b1f9154d9cf7016d | I wanted to focus a little bit on Cami. And maybe, Jay, can you talk a little bit about what data should we expect to see from the solid tumor study potentially at ASCO. At this point, what indications do you think that you would be most hopeful about for Cami in solid tumors. And then can you talk to your view about t... | Sure. I can answer those questions. So I think at ASCO we're not providing. It's a trial in progress poster. So we're not providing specific data. We don't have data yet from the trial that we presented or published anywhere because we're still in dose escalation phase, but the trial is going along pretty well. We've e... | intermediate | [
"direct",
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ac44ead483bc660098ff75acac2141b1 | My question is about Bigo Live. Can management share about the paying ratio as well as the ARPU [Phonetic] at the moment? And with regard to our 2020 revenue growth, what's the contribution coming from user paying ratio as well as ARPU? | In terms of the current paying ratio and ARPU of Bigo Live, let's talk about the paying ratio first. The paying ratio of Bigo Live is still lower than in China overall [Phonetic], but we have seen a good ramp-up of the paying ratio for people at particular Bigo Live's strategies penetrating in the developed markets. Th... | direct | [
"direct",
"intermediate",
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] | A |
178a8c834e9ffbb0cd82168221f2b186 | My question is related to Likee. Could management please share the user and revenue target in the next one to two years? And in terms of the user engagement revenue diversification, geographical distribution, how is it different from Bigo Live? And in terms of user behavior, is there any notable difference between Like... | As I mentioned in the previous speech, Likee just started modernization recently and in the past three years of development, we have focused on user expansion and also community cultivation. I believe that in the long run, there we expect some changes to Likee's long-term strategy in the following aspects, especially o... | fully_evasive | [
"direct",
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"fully_evasive"
] | C |
ff86b3f3978cef71baf700f237d50ed6 | So my question is on the overseas live streaming. When entering into this market for five to six years, and when entered a different market in different time, can we discuss what stage of live streaming in each market is primarily used also on America and Europe? Also, can you touch on any recent change that you're see... | I'd love to clarify here is that, if you look at our quarterly over quarter growth rate for Bigo in RMB, you might consider growth rate relatively flat with minor decrease. But if you actually exclude the FX loss fluctuation and you look at it on a constant currency basis in terms of US dollar, we actually accomplish a... | intermediate | [
"direct",
"intermediate",
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] | B |
77deb638342ceca14e92cac84bf95fe5 | Can you give us more color on the use of cash? And does that imply for Bigo's overseas markets and then how should we look at the marketing trends for Bigo in 2021? | Thanks, Zhang Lei. Let me address those two questions. First is regarding the use of proceeds. We had a good cash balance right now and obviously after Baidu's acquisition of YY Live is completely done, we have additional US dollar coming in. And then we will have several methods of utilizing this cash. One is obviousl... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
bd6bfa7ce2eeb028a4247a2e8e1d64c5 | So, I just had a question regarding Oral Pac and checkpoint inhibitor combo. So for I-SPY 2, I just want to clarify, you talked about 18 months, that we're still on track for year end '21 or could it go into 2022? And then the follow up would be for oral -- the the Oral Pac Mayo trial, the tirbanibulin trial. Can you w... | The I-SPY 2 is one of the combination studies we are conducting. So in that setting it was a combination with the GSK's dostarlimab in neoadjuvant setting in metastatic breast cancer. The readout, as we keep saying is based on really -- will be based on enrollment. The enrollment has start and is moving along very well... | intermediate | [
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] | B |
5f15f8322075020b82b13db2ec430947 | So first, for manufacturing of tirbanibulin and Oraxol, the FDA is obviously very busy these days. Maybe you see there a more certain [Phonetic] figure, but wondering if you could inform us as to whether the plants, the manufacturing plants had been inspected by the FDA yet or whether this had been pushed and there you... | First of all Kennen, the oral paclitaxel is being developed by a partner who has been inspected on a regular basis. So that facility is ready to go. Where we make the tirbanibulin ointment in Clarence, we have had several inspections with very, very good results. So, the quick answer is, there is no issue with FDA insp... | direct | [
"direct",
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] | A |
8fba23006024d237f01d7e328ff43cc3 | Regarding your upcoming SABCS presentation, can you help set investor expectations regarding the update? | We have four abstracts directly on the data and two on the [Indecipherable], the usual management strategy highlights. Now for the four abstracts on the data, Rudolf, do you want to provide more details with regard to these abstracts?
Absolutely. The first poster on the spotlight presentation, titled PD1-08, Oral Pacl... | intermediate | [
"direct",
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] | B |
48e735bdc26546c74b3a0722e88cde26 | Can you provide the progress update on your other oral chemotherapies, and when we might see data for those programs? | Certainly, I can provide that. In a nutshell, we have been very busy focusing on two submissions. So the whole team when you've got to NDA review with the FDA and especially with the Oraxol being a priority review the interaction with the FDA is really very constant and interactive and really focusing on netting [Phone... | intermediate | [
"direct",
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] | B |
08cad4617a73aba7ae9b304f10793072 | Maybe just following up on San Antonio, with regard to the angiosarcoma update, should we expect an update on duration of benefit across the enrolled cohort or should we think about this update as being more narrowly construed to the breast cancer population described. And just more generally on angiosarcoma, can you p... | Yeah, sure. It's very, very interesting indication, it's a small indication, but it is generating very intriguing data as we have present some already. The angiosarcoma program, what we will be presenting is really the subset of the -- I think I believe the seven patients in the angiosarcoma of the breast. And the stud... | intermediate | [
"direct",
"intermediate",
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] | B |
6a70d4d9c24fe6de2c07f5965e97c724 | The first one is for Jeff that if you look into the fourth quarter, you have the dynamics between the COVID-19 medication as well as the API and the 503B drugs. So do you see that mostly for the COVID-19 still be a major part of that or you see that dynamic being changed. | Yeah, Yale. We see it rising and falling, the hospital patients with COVID, we saw a significant decline and now in the last week or two, we've seen an uptick again. So overall, I think that we will have a quarter that will least be on track and by raising the expectations for revenue, tells you that we feel pretty, pr... | intermediate | [
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] | B |
c0736b98b6856a4f718a269c5485ee11 | The follow-up here is actually for the marketing side, you mentioned a lot of activity the pre-marketing activities and potentials for value proposition. Have you guys done any pharmacoeconomic studies on the Oral Paclitaxel and if so, would you guys be able to maybe publish that in the future? | Hi, Yale. Hi, thanks for the question. We have -- we haven't done any on Oral Paclitaxel yet because we're not approved. Once we get on the market we absolutely have pharmacoeconomic studies planned and would certainly publish those. I will tell you though that we have done some important pharmacoeconomic looking at, f... | direct | [
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] | A |
0b1e59f0e0204a54ebaf99c70cf72c59 | Maybe first, Jeff, Gregg organic growth across each of the three businesses obviously very impressive. I was hoping maybe you could parse out a little bit, when you look across the three how much is being driven by volume and price. And then whether or not in the second quarter you were in parity with sort of price cos... | Yes. Good morning, Matt. And thanks for thanks for the question. I think on the first part in terms of price volume, let me just give price volume in general in aggregate versus splitting it out for each of the businesses. So we had strong double digit organic growth, in all three segments leading to strong double digi... | direct | [
"direct",
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] | A |
880c1686012dd6ee21e0e7cf523761b3 | Got it. And then I think, Gregg, you maybe mentioned in your prepared remarks that you think some of the supply chain issues you've been dealing with maybe starts to get better in the second half of the year. Can you talk about what you're maybe seeing kind of day-to-day that's leading you to that conclusion? | Yes. We have this backlog, which, again, historically, up until a year ago, we really didn't talk about backlog. We've talked more about open orders at the end of the quarter, but we also have what we [Inaudible] the past due and all of that backlog, which is a sizable portion of it. And we're seeing where the past due... | direct | [
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98c5ea0402aa1b61fd3760275720a396 | Quickly, I was hoping we could double click in on Water Systems. Could you maybe talk about the trends separately across groundwater, surface pumps, sub pump, and treatment, please? | Yes. I think you heard in our prepared remarks that we have very strong growth in groundwater. We've seen that continue in not only in the second quarter but in the first half. I would tell you that we're seeing that in all of the key end markets there. Residential continues to be strong. Agricultural continues to be s... | direct | [
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] | A |
7be136a0da45feb66ff0451991223b7b | I want to follow up a little bit on Matt's questioning about the gross margin and maybe just to go one step further. It sounds like with the electronics still 50 weeks out and some supply chain issues. I guess, in the back half of the year, do you get the gross margin? The gross profit margin's kind of flat year-over-y... | Well, I think my first response to that is, Matt, we just delivered a record quarter. It's one of the highest gross margins we've seen in the company in years. And so we want to some extent, we want to enjoy the moment here. But certainly, we look at the back half of the year. There's a lot of factors that come into pl... | intermediate | [
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] | B |
34859ad6347aac57da4b6a108d92109c | How do you guys think about the monetary tightening that's going on and how that might impact your businesses, especially around resi? Do you think that tightening is going to moderate some of the demand out into the future? How do you think that will play out? | Walter, not an economist. But having been around Franklin for three decades, you think about -- I think what you're getting at is in new housing starts and new installations. Being mindful that in the space of groundwater, if you haven't -- just to make the math simple, if you have 1.5 million new housing starts, maybe... | intermediate | [
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] | B |
dc2faac92127eec69db2542bce631428 | I wanted to kind of follow Walter's question with a similar question, more on the resource and mining side. I mean I know you cited tailwinds there, we're on board with that. I guess, dewatering does see some tailwinds with the resource tightness. Interesting cycle and that some of that resource tightness is geopolitic... | Ryan, you follow us for a number of years. And again, a view is that this is a supply. Inflation is coming to its supply constraint or some people who take an analogy back to the end of World War II coming back in the United States. There just wasn't enough supply as opposed to demand or -- and also the -- go back to t... | intermediate | [
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] | B |
f356882d146da86f3bfc25e463432e6c | It has to do with your treatment business and your sort of channel-to-market strategy. I'm just curious if you can brief us on how that's working out. I know some of the peers in that business have really talked up their partnerships with some of the big box home improvement players and so forth and said that that's re... | Sure, Ryan. We have a multichannel strategy. So one thing when you look at treatment and you look in the United States, really the well driller installer is the first person that's going to touch a pumping system. Many of them do not get into treatment. They enjoy, and they realize a good living off drilling and instal... | direct | [
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] | A |
4d1500c0076620e6e1b098acc3e8cf35 | Regarding toripalimab submission beyond MPC, are you still planning to submit for ESCC and non-small cell lung cancer this year? Or should we expect this to happen after potential pre-approval for [Inaudible]? | So as mentioned during the discussion, we don't anticipate following up with toripalimab in non-small cell lung cancer and for filing based on the TRACE-1 data. We'll leverage that data to look at dual immunotherapy combinations with an TIGIT, [Inaudible] CHS-006. In terms of other filings, I think at this time, we're ... | intermediate | [
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f1a9c6333c7ee4232b81c74048255ba1 | Well, you could provide a little bit more color on the reasons behind today's announced discontinuation of CHS-305. | Yes, we're happy to, of course. First of all, let me say that we have a very positive relationship with [Inaudible]. I have a very good relationship with their Innovent CEO, Michael Yu. We signed this agreement and directly thereafter ramped to Chinese leaders, you can recall, COVID struck.
And COVID basically impaire... | direct | [
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] | A |
b7a4f66d35308127329322a6de83a852 | Firstly, on FDA inspections. Are there any pending for either Humira or Yusimry? | Yeah. Yusimry inspections have been completed, and there are no issues impairing the approval.
Yusimry is approved. | intermediate | [
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] | B |
cf862f8bbb97208593b987ba958b1bab | I guess my first would just be -- just looking at the run rate that you have for Udencya right now, 1Q, do you see any reason why that would get better for the remainder of the year before you have the OBI launch, which will be a 2023 event. So just curious, do you see that run rate improving? I know there was some com... | So yes, as we indicated during our Q4 call, where we stated that our Udencya sales in 2022 will be less than the sales in 2021. We're not offering any updates to that guidance at this time.
The market grew 1%, remaining relatively stable. So we're expecting that to pick up, but that's where we're at right now. No furt... | intermediate | [
"direct",
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] | B |
388f4196f633f45b482ce47dee405850 | Just based on the commentary about sort of the maybe irrational competitor pricing behaviors in the Udencya market, thinking ahead to Humira, just given the sheer volume of players, do you see this as a profitable market beyond 2024? Like I think most people could probably say 2023 and 2024 could be interesting, but th... | I'm going to let Paul add some additional remarks. But I would point to two things. First of all, we've already made previous investments that we outlined in order to be the high-volume, low-cost producer. We made significant progress in driving the cost down to fully loaded and released auto-injector, which I think th... | direct | [
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0f366ca4bbf4003e4f41c7f206db16d7 | So I guess for the first one, regarding the review process for biosimilar Lucentis, are there any additional updates or color you could provide around the interactions with the agency? And specifically, have you been part of these discussions? And has your partner received clearance around the manufacturing issue that ... | Yes. To be clear, and I'll let Dr. Lavallee address this in more detail. To be clear, yes, we are confident that the previous issues with respect to manufacturing CRL have been fully addressed. There has been an inspection of the facility and the manufacturing inspection, we do not believe or any pediment to approval w... | direct | [
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3466d1953eacfdde43297bf8984b80b5 | And then just around the opportunity for biosimilar Lucentis. Do you know if there are any other competitors except Biogen and Samsung that might be launching in the near term? And given that limited competition, could you potentially see a similar ramp-up as we saw with Udencya over the next two to three years? | Well, I would say that our understanding is Biogen will probably be in a position to come into market before us. Just how much we're uncertain, but perhaps a bit. But as you point out, we were second to market with Udencya, did very, very well with that launch, with that product, and dominated that biosimilar market up... | intermediate | [
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774ef175e9aced4490a6980a3495203a | Maybe when deciding on how to prioritize resources, what necessarily tip the scales in favor of stroke, which is the primary endpoint in two studies versus ARDS where there are two positive studies? | Thank you. I appreciate the question. What I would tell you is that we feel like we have significant data on stroke, right, between MATRICS-1, between TREASURE, the size of the trials and really the totality of the data, which is what we've been trying to communicate since the TREASURE data results were announced. And ... | intermediate | [
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017b9e43690199ca087ac2e179be83ca | First question I had was just with respect to the performance in the industrial vertical, I wonder if you could maybe shed a little bit more light, because I assume that that vertical encompasses a number of different customers and maybe some subsets. So where are you seeing some of the weakness, and/or where has it fa... | Yes. So, this is Jeff. I'll take the lead, and I'm going to let Roop add some color. We -- the number of factors as you've said that's contributing to it. If you look at our current quarter revenue and the outlook, where it's flatter, we believe this growth opportunity here. So when we say we didn't perform as expected... | direct | [
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b4b7654e30f7c22feab195b47ee63695 | And Jeff, just with respect to Semi-Cap, have you basically now met with all of your major customers and it sounds like the way you're thinking about the recovery is the way we're hearing a lot of folks talk about it, more second half 2020. But by the same token, it sounds like -- do you get any indication as to partic... | Yes. So, let me comment on that and go a little deeper. I have had a lot of customer interactions here, so that's been good, and I said I was going to go after that. I haven't met with a rude customer we have here, so I got more work to do there. But from the discussions I have had and some of the really important ones... | direct | [
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08234742a84457a756c1e6c55af03f2e | Just with respect to the facility consolidation, I wonder if you could talk a little bit about either the types of customers you're servicing in those two facilities, and I just want to again go over the time line for closing those facilities, and when we might anticipate some of the benefits from a cost saving startin... | Yes. So let me talk about the strategic context, and then I'll have Roop comment on the financial impact. This is tough decisions and we don't want to impact our team. But we've been going through this strategic assessment and looking at a lot of things, our utilization, the scale of our site, geographic placement, cos... | direct | [
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706322850c9f12b10c3592a2b4214dec | Hi. Good afternoon. Thanks for taking my question. Dermot, just want to start with a high-level question. I know there's been a lot of talk about vertical integration in the United States, and there's been some companies that have taken action. So now that you have the full suite of products with Coolbet coming in-hous... | Thanks, Chad. It really hasn't changed. The reality is that this is very, very complex and scarce technology. And as much as many B2B operators of U.S. Internet gambling may covet the technology, there'll be very few who do go through that whole process. And regardless of the size of the individual B2C operator, they w... | direct | [
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5283f2144c050304379097cd665569d3 | Great. Thanks. And then on the 2021 guidance, is it safe to assume -- I know you said $12 million for Coolbet in the first quarter. I believe, last quarter, when you announced the acquisition, you said this is roughly a $50 million revenue business. Is it safe to assume that out of your guidance, roughly $50 million is... | Yes. That's absolutely correct. The split between the B2B and B2C businesses is 50-50 for the short to midterm. | direct | [
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dfcd84c70506905d2d718f9dc1edbf19 | Yeah. Thanks for taking my question, and good to hear the company is off to such a strong start for the first quarter. One thing I did want to ask a little bit about -- good to hear the integration is coming along nicely. What's the company's opportunity to expand into new states in the U.S., particularly those that ma... | Yeah. Josh, I mean, as you know, the GAN platform has got multiple different options for clients to choose from. And obviously, we prefer our clients to choose the Coolbet in-house sports capability, but I think we need to get that up and running and out the door later on this year and be able to demonstrate the unique... | direct | [
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dc769f462b2dd004f7c9e899fadf88d7 | Thanks for the clarity on that. And just to hit on Coolbet a little bit more. Could you -- any updates you could provide? I know that they have a big B2C focus right outside the U.S. on how those markets are trending. Or what's the expectation on that front? | Yeah. So Coolbet is operating in just a relatively small number of European and Latin American markets at the moment. They are generating considerable profits from significant scale, and we're extremely excited by the expansionary opportunity in Latin America, which has got a secular growth profile to it for the next 1... | intermediate | [
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4b414b069915db491199f93561bc77fe | Good afternoon. Thanks for taking my question. Dermot, on the last conference call, you mentioned $100 million of pro forma revenue in 2021, excluding any synergies with Coolbet. So I guess it sounds like we're assuming a little bit of synergies there from sports betting revenue, as well as $3 million of license award ... | Thanks, Ryan. So the first thing I'd say is, I mean, this is based on our best current estimates, right. So increasing guidance is not undertaken lightly or without significant consideration. It's principally from the very rapid market launch of Michigan, which I think the whole industry has noted. And we've had a reco... | intermediate | [
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aba9372b78d4a6409b39bf04ee8c6cd0 | Got you. Then if I look at Slide 17, it looks like platform and content fees, development services, the bottom two bars there, the recurring pieces of the business, the SaaS pieces, those are declining on a percentage basis. I guess, I thought the recent deals had better pricing, as well as customers were taking more s... | Yeah. So I mean, there is a little bit of an impact relative to the mix of jurisdictions and the impact on the take rate. So between gross operator revenue and our revenue, you have taxes that come into play, bonusing, etc. So it's going to be -- to the extent that there's states with higher tax rates, such as Pennsylv... | direct | [
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775754a296ef34afd598b2d36eb5d423 | Got you. Then last question for me, just on Parx. Nice to see the patent license there. But also, it did remove exclusivity. So can you talk through the puts, takes on the removal of the exclusivity, their launch plans in Michigan, which is play tech, and then kind of what that means for Pennsylvania and New Jersey for... | Yeah. I mean, there's a limit on what we can disclose about that relationship change. But of course, we couldn't deliver all things for all people, and we had a huge heavy lift, just getting three clients live in Michigan. So we've been serving Parx for a long period of time. We delivered a very substantial business fo... | fully_evasive | [
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32a932e5c9ea9a50d365713596482670 | Hey, good afternoon. Thanks for taking the questions. Congrats on the strong Q1 guidance and everything and the Westgate Resorts addition, like you said, the eighth real money gaming client, I think, that you said sports betting side in Colorado and New Jersey and then iGaming in New Jersey. Just wondering -- sorry if ... | Thanks, Greg. Yeah. So it's an extremely exciting customer win for us. It's the eighth U.S. retail casino operator client of ours for real money gambling here in the United States, so very exciting increase in our client roster. Westgate Resorts is extremely well-known brand in the U.S. among sports gambling enthusiast... | intermediate | [
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de477d1b17ff3a2587c1e01d4ca1fc80 | Got it. Great. And to follow up, I guess, on the Coolbet integration. Could you provide an update on estimated timing when we'd see that integration completed in the U.S. and the launch there? And I guess, along those lines, what still needs to be done or completed to reach integration in the U.S. markets? | OK. Well, the technical integration was very much designed as part of the due diligence process in fall of last year. So the technical integration is kind of one part of it, and that's in the bag already. The second process is slight additional localization for the U.S. marketplace, which has already taken place. Of co... | intermediate | [
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59aac9cdc8be805e517d4cffee4e79cb | Great. I guess last one for me. Just kind of drivers of the decline in take rate sequentially, it sounds like that was kind of pushed out from the licensing fee move Q1. It seems your guidance implies a pretty nice uplift in take rates, just based on the gross operator revenue expectations for the year. What kind of gi... | Yeah. I mean, there is already substantial momentum with our current client base. And I would just make a general statement that our revenue projections for 2021 are primarily based on things that are already known. So there's always going to be just a little bit of adding new clients and assumptions around that, but w... | direct | [
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a8924885d9a59f244ee0ce623fcadc81 | (Foreign Language) Now, let me just transfer to English mode. I have two question. My first question is that you know, share some color on your oversea license application progress and what's your expectation on a contribution to your business. Once you successfully acquired those license and my second question follows... | (Foreign Language) Okay. So let -- me let me just quickly translate answer to your first question, Eddy. So in terms of licensing, you know, our goal is to be able to serve the global Chinese population. So having more licensing enables us to you know conduct more business in the other region of China. So the AIP, we g... | intermediate | [
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9dbe9131c2894507fe3b7884654a2ccd | (Foreign Language) Thank you management. Congratulations again on our successful listing. I have two questions. First, we observed TIGR has already participated in many eye-catching IPO subscription in the US stock market such as TME and Zoom, which is really popular and value added service for our organization. So sho... | (Foreign Language). Right. So a quick summary. At Philadelphia or not all of you know the US IPO process is different from Hong Kong and Asia. So in the US, the tipping point is, there is no retail tranche. Most of this retail came from DSP, which means now you have to know the management -- or part of the employee pro... | intermediate | [
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e4c4eb8c28bf52868ccaeda01211b543 | Hi. Good evening, management. Thanks for taking my question. So my first question is about the ESOP management scheme, that we understand that you launched that quite recently in late 2018. So I would like to understand, while how is your progress here, for example in terms of the number of corporates that you have sig... | (Foreign Language) Hi, let me translate the ESOP question. So ESOP, you know, just frankly say where we started relative in May, but we have been making a really good progress. So right now, those -- ESOP clients haven't really reflecting to our revenue that we believe in the next 6 months to 12 months, when the IPO is... | intermediate | [
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7db67ecf7b37dfc31e51217809746f47 | Hi. Thanks, management. I just have some follow-up question for the financial data for your first quarter and may I have the color or the gross rate or is the -- that number above your margin finance and the trading amounts. And my second questions is about that, can I have the gross commission breakdown in fourth quar... | Okay, Eddy. I will answer your questions. So in terms of trading volumes, I think it's on par with our numbers last year, OK. The same quarter last year the trading mix in terms of the mix of the different products is -- US equities, it's about like -- sorry -- in terms of the revenue mix the US equities is probably cl... | intermediate | [
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27e01e28607d36e32f1122552b88e416 | You have been aggressive on price. You are still behind on price costs. The first question is, have the price increases had any impact on demand? Or can you just talk about end market dynamics as you see them? | Yes. Steve, at this point, no. At this point, no, there's an acceptance in the market-based upon the inflation you are seeing in all raw materials. We still feel we have got good success in implementing the recently announced July and August increases. We are not seeing demand tail off in a market way. There are certai... | direct | [
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8cae0746e5d0d4d491e29f003c55e542 | And you said you expect the supply chain disruptions are temporary. What's the thought process there? Or what are you hearing from suppliers and any way to handicap when those prices might start to roll off? | Yes. So a lot of it is on the polyethylene, polypropylene side, but also steel, to a lesser degree. The polyethylene side and polypropylene side, a number of those factors came into play. We had COVID and the pandemic, which pushed out maintenance turnarounds. When those maintenance turnarounds were to be done, we had ... | direct | [
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cc0454f2bdbd75eb2b5c9d24a3655e44 | What percentage of the product line has contracts where you can't push price right now until contract renewal? | Yes, at this point, we have not disclosed that in the past. And so I would prefer not to disclose that at this time, Steve. | fully_evasive | [
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5cbe9f27ad60adf74d3c88cf0384e827 | Okay. Well, do you have any product lines right now that are breakeven or unprofitable? Or is everything still contributing? | At this point, I don't want to go into the specifics. I would say there's significant demand. That's the positive. The short-term disruptions from a price standpoint on polyethylene, polypropylene have been significant. We are addressing that with the price increases. The vast majority of our product lines continue to ... | intermediate | [
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f5304071f411946a2fd094e4fd8422ec | Yes, I understand. It's an unusual situation. And last question for me, and this is -- I know it's a tough one. But first half over first half sales are up more than $120 million, but operating income is up $3 million. And I know that a huge driver of that is the input cost inflation that you are talking about. But wha... | Sure, Steve. So Steve, I would start with what you saw in terms of our gross margin compression in this quarter. So we were down 660 basis points. As you think about our commentary around being unfavorable from a price to cost relationship, about 2/3 of that was due to this relationship of the compression. So as you lo... | intermediate | [
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adef97e28e8782d3bede39b07c80a4cd | This is Jonathan on for Lance. Congratulations on the quarter. My first question is with material handling increasing 32% organically, can one also assume that organic sales volumes increase? Or was it just a function of increase in price? | No. Good morning Jonathan, this is Sonal. So yes, of that 32%, approximately 24% of that was volume mix. And so that was driven by good solid growth there on that side, 6% then from pricing and then about 2% from FX. | direct | [
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ec8d7e780ce9eb8529afd3178880c2ad | Okay. Got it. Now I know that you guys have raised prices in three months this year. And you are still not able to catch up the cost. Eventually, I am sure you will. Once you guys do reach that point where prices do catch up, do you see that as a potential. One, do you think prices are -- remain sticky? And two, do you... | Yes, Jonathan, this is Mike. So it kind of goes back to some of my comments. We make high quality, highly reliable products that we continue to invest in. And based on that, we believe that we can price our products to the value they create for our customers. And I mentioned we want to approach this in a -- with a long... | intermediate | [
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cbb9eda74a2a50b209bea5d52b5d74e1 | My last question, I noted that financial leases have become a portion of the balance sheet. And I am wondering, is this something that will remain like the status quo going forward? Or were the leases of opportunities that came up and you have decided to take those? | Yes, Jonathan. No, it's really not a structural change in how we think about our capital structure and how we will proceed going forward. It really was an opportunity as we took a look at the project fund plan that we had announced and the opportunity to essentially sell it and lease it back as we went through that pro... | direct | [
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74e321d86f92384dbd75ad9c82b80e2f | Mike, in the past, you've said that Myers is one of the only companies that can bring the four plastic molding technologies to market. Can you talk about how that's translated into new product wins in the marketplace? Or how customers have responded to those broader capabilities? | Yeah, it's early days, Steve, but we're seeing proof points, we're seeing that playout. We have done cross training. And I can't remember what I have mentioned on prior calls or not. For example, we had our rotational molding sales and technical growth in our blow molding plants because there's the most overlap there a... | direct | [
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5bbe24f63d1903c27711c2a1762cf359 | On the last call, you said the sales training was a 30-day process, I think, and it was about 1/3 done. So assuming that's now complete, is -- well, I guess that's the question. Is that complete through the organization on both sides? | Yes. And maybe I misspoke before, it's more almost like a 90-day process, Steve. We have the waves that are going through. The distribution team, we are training the management, but not all 150. But of the other 60 or 70 sales people we have on the material handling side, I believe it's largely done or very soon will b... | direct | [
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4e648b1f0aebbd0c7cc9d7258de5d3e8 | Is there any way to mitigate that? Is it a function of -- as you think longer term, do you need to move the location of some of these facilities to a more populated area? Or how do you think -- or is it an automation play? What do you do? | Yes. It's an automation play. That's a little bit longer-term answer. We have some automation consultants at each of our facilities that are helping us identify opportunities. And a lot of them are not huge capital expenses, but more in the incremental. So that's in play. Also, we have got a number of pilots, some of w... | direct | [
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bf3fd7d9126ff6e2d023d479d6c497a1 | Yes. Last one for me, I know it's small but any update on e-commerce? I know that has -- it's an exciting new channel that could grow. | It's very exciting. We have got a good team. I am really pleased with the folks that Chad Collins has been able to put in place. They are very talented. We use it as a flywheel. The margins in some -- for some customers and channels are actually very good, some not as good. And at this point, right now, our plants are ... | direct | [
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40bea10aef3b59e68555170570677db8 | So just in terms of the guidance update, maybe, you can just dig into like a little bit more detail on specifically kind of where the source of kind of that change came from. It seems like maybe, there's been a slight, you know, downtick in casino specifically versus your expectations, and sort of how you see that play... | Hey, good morning. Thank you for the question. So I would answer in a -- I would try to answer two question in one shot. So me as a CEO, of course, I'm looking at the current quarter and looking at the right operation. But I think, we as a company, and we said in the beginning of the year, we're focusing for long term,... | direct | [
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23a0caa5a4a8fe9f127fe4631e2099ae | OK. Thank you. So, Robert or Craig, you know, can you update us on the current M&A environment? I think there was the potential for hopefully asset prices to maybe start coming in a little better. Some of the more sub-scale studios went into difficulties, wrapping their business on the other side of IDFA deprecation. I... | Sure. Thanks, Stephen. Good question. So listen, the M&A environment, you know, continues to be competitive. I think the private markets are not fully aligned with the public markets in terms of where we continue see valuations. So I wouldn't say that the private market valuations have been impacted by IDFA. I think so... | intermediate | [
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d8d3e5e339f1734ba81878d3fa66645f | OK, thanks. Guys, good morning. I trust you had some time to digest the ruling in the Epic Games-Apple case. Can you comment on how you see the anti-steering mandate impacting your business? And then, separately, Craig, maybe you can talk about the divergence in DAUs, which were down in the quarter, versus MAUs, which ... | So this is a very interesting question because, still, we are waiting to see what is going to happen. We don't know. There's many speculation about the here and there, but anyway, because we are a little bit different than other companies and we have our own proprietary platform. And we're ready for everything now that... | intermediate | [
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2f92f9d747b34fa9c30c9f6c25621f75 | Great. Thank you. Can you provide an update if there was any change for the contribution from the Reworks acquisition in terms of maybe revenue and EBITDA? And generally, can you talk about some of the engagements match -- trends that you're seeing, if there is any change with the, you know, pandemic kind of like lifti... | Sure. So in terms of the Reworks guidance, nothing has changed in terms of what we provided in the press release, $30 million for the year, one month of that being in the first quarter, and the remainder of that being in the fourth quarter. We did not provide any guidance as it relates to any EBITDA contribution from t... | direct | [
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85d984e0a8b325295a32f6341b0aafc5 | Yes. Thank you very much for the call, and good morning. You've seen an acceleration in your new game launch roadmap. I'm wondering if you could comment about what has changed since the time of your IPO that's allowed you to be in the situation. | Thank you for the question. So yes, when we started the year and we become a public company, we didn't have the confidence as we have today about launching a new game. And we said, we're going to launch one game. During the last few months, we implement the Boost platform to our new games development, and we see huge p... | direct | [
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82891c5019e4d82265bac41de40afaf7 | Thanks. Two for me, please. Robert, I wanted to see whether you might be willing to expand on some of the comments you made at the start of the call. Those are some big verticals you highlighted between e-commerce, lifestyle and ed tech. It sounds like maybe you think there's a services model extension with Boost. I'm ... | OK. Thank you for the question. And when we went public, we spoke about going beyond games. And our first acquisition was Redecor. And we -- the funny thing and the interesting thing, we just said -- polled with our players at Redecor. And they see Redecor as an app, not as a game. And we should look at it like a half ... | intermediate | [
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c4add0ceeba9077b2a4e8b651ab854c2 | Great, thanks. If you can give an update on how you're thinking about industry consolidation in terms of several mobile publishers combining with third-party mobile advertising platforms, and perhaps, you know, if you're seeing any impact from IDFA. And what are your thoughts about integrating more mobile ad tech capab... | Sure. Thanks. So in terms of what's happening in the industry, yeah, there is -- there has been a lot of M&A activity. We are focused on acquiring great content to create long-lasting franchises, and I believe that will continue to be part of the strategy. I think there's also emerging business models around games that... | intermediate | [
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554f5a06a84ed19060c83e8c1cdf6b4e | Hey, thanks. Can you talk a little bit about your UA road map for Switchcraft? You know, how you're spending your acquired users now? It looks like download velocity has been pretty modest since you launched it. I'm just wondering if there was a point in which you plan to kind of put your foot on the gas to try to driv... | Yes. Thanks for the question. So yes, Switchcraft was our first launch of a new game. And our intention is to see the numbers and the KPIs before were starting to scale the UA activities here. We launched it few weeks ago. We see very good results regarding monetization and LiveOps. And I think we will wait two, three ... | direct | [
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5260ad00909c8a5e9bfeb7968835ff05 | Dan, I guess first question on -- all the action you guys took, I guess, toward the end of the quarter there -- on the restructuring efforts. I know that's -- certainly not -- not fun, but I guess just thinking through the go forward impact there, do you guys have an estimate just in terms of potential cost savings? I ... | I think looking [Inaudible] Leo can answer -- Leo can answer that question if you're looking at that portion, won't you?
Yeah. We're -- we would look at a reduction in our -- the cash payroll cost annualized to the company of approximately $9 million.
Alan, you're right. Alan, that wasn't -- it wasn't fun. But it was... | direct | [
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30ee87a054771c66babf0c2e0d01634f | Dan, I know you mentioned, as far as home sales activity is concerned that you hadn't really seen any impact from the move in rates and all the stock market volatility. I'm guessing -- that those comments were kind of through the quarter. It seems like the last couple of weeks maybe there's been another level of volati... | Well, I would say that we have not seen a slowdown in our sales base. Now, Valencia, which has a lot of programs, we're seeing consistent sales there. Obviously at Great Park, we were down there some just the very end of the inventory and builders are slowly letting it out as they wait for the new communities to open u... | intermediate | [
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6894d5b366a5d22087c8fab291f638c1 | Dan, one of the things you mentioned that you're looking at or potentially trying to do here is actually pay down debt. And I was a little surprised at that, only because just knowing where you guys are as a company in your life cycle, I would assume that at some point here you would hope to get San Francisco up and ru... | Well, in San Francisco, I'm -- once again, I'm still getting in my head a lot around San Francisco. So -- that's not really in play at this moment. So it's not something that, that we're looking at current cash flows. We need to, really finalize, really the process and what we're doing up there. Otherwise, we're going ... | intermediate | [
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b66c058306379e07f3365ffb17334e1e | For full disclosure, I'll run my a chartered financial analyst at Stifel. I'm not representing the firm in this discussion, I'm actually a shareholder. My 60,000 shares were bought about a year -- two years ago now. And during that time period, of course, I have had now three people leading this discussion. You're the ... | We have -- we have great assets, again. So I can tell you that I've spent a bunch of time on all of them in the last 90 days. And -- but it's going to take time. And I think the the issue here is, is we need we need time to execute on all of them, but they're great assets. So that's -- I'm not quite sure how you can sa... | fully_evasive | [
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"fully_evasive"
] | C |
f312d3ca1100a74a05dd4f253581f896 | And with the -- you talked about the enhanced residential opportunities that Creek Park, that was mentioned, I think, in a previous call. Where are you on that and what's the probability of success in doing that? And what do you think the eventual result will be? | Well. That is actually a work in progress in the work that we're studying. I'm not sure if you're in California or not, but there is a very active program in California called RHNA, the Regional Housing Needs Assessment, and that gives us opportunities. It's a great park for additional residential, but that is a -- tha... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
77ae84d52b2ae747c1f46864a00aba4b | The -- your appointment, obviously, was meant to do a certain thing in the direction of the company. I'm just wondering from your perspective, what's the skill set that you're bringing to the team that's maybe different than the others or oriented differently? Or can make shareholders like me more confident that we're ... | I think, Ken, I bring 32 years of experience in the neighboring community of the Irvine ranch. And I have deep, deep experience in residential development, residential land sales, and have also worked closely with teams of people on the commercial side in my past life. So what I'm just -- there was a huge lift to get t... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
31e6668427b8e426bfbd32dc888cfc26 | One last comment is, is there any way, this is brought up in the meeting or one of these conference calls a couple of times back, is there any way that is CFO can help investors appreciate the true value of the underlying assets that you do hold? If I'm a resident of Irvine, my office looks down on your property. A gre... | Ken, that's not something we're prepared or in position to do. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
bfe13bd25db28a5afa8762e16c17ba7c | Hey, I was trying to give other people a chance to ask questions and I'll try not to monopolize the call. A few questions; firstly, on the customer churn. It looks like you're making terrific progress there. Just to what extent do you think that is sustainable? | Yeah. I think, Michael, we've done a number of things in the last 18 months that's really tried to put ourselves in a better competitive position. And then at the same time reinvest in areas that improve the customer experience. And you've heard me talk about that on this call for some time now. And that has certainly ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
f92e6f73812d8b7c92847e5db2340a86 | Okay. Fair enough. So then net-net, would you still expect to be in a customer gain situation in the first quarter? | It's difficult to answer because we don't have -- obviously, we still have a month left. So a difficult thing to say right now. | fully_evasive | [
"direct",
"intermediate",
"fully_evasive"
] | C |
87e6b1c8c29491121b3796adab16ad77 | Okay. Fair enough. But it sounds like it's going to be close enough that at least you're not expecting material losses for the December quarter. | We will have to see. | fully_evasive | [
"direct",
"intermediate",
"fully_evasive"
] | C |
9ebcb79c3d5d20fe7a5a9b74afdb6eef | Okay. Okay, fair enough. And then so given the warmer weather you're seeing would you expect to be occurring on the weather hitch in the December quarter if things continue as they seem to be? | Well, with regard to the weather hedge it does cover the period of November through March. So there's a lot of the heating season, a lot of the heating season yet to go. As of today, we're probably in the money a little bit on one of the weather hedges; we do have two. But we'll have to see really to where we settle up... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
562fb3952446c4e252d1d72dfa99ef37 | Okay. Fair enough. And then the last question I had was in terms of priorities as far as cash flow is concerned. So obviously fiscal '20 was just a fantastic year for cash flow and to some extent obviously, you benefited from low working capital requirements. So it's interesting Jeff, by the way to see the divestiture ... | Well, with regard to the share buyback and I said this a few times, it's a program and we don't call a broker and say, hey, you got to do this. You have to do that. We're limited to the number of shares that we can buy based on the average, I guess, I think it's the last 60 trading days. And we've put in certain hurdle... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
160e477eea44c33cd3c20c59185899c4 | Okay, great. And just a quick follow-up question on the formula for the buyback; what is it that creates the six-month quiet period around the buyback? I wasn't aware of that. | Sure. We can really only change the number of shares that we can buy back and the price that we can buy back during a quiet period and which is usually -- it's basically the three days after we file till the beginning of the next month in the next fiscal quarter with the way that we filed our 10-K. Our 10-K we're filin... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
6747f7756c9fd224019750803dfa0528 | First in the fourth quarter, it sounded like you had very strong price realization, up almost 350 basis points year-over-year. Should we be thinking about something similar in magnitude for the entirety of '21? And if so, will that be enough to offset the inflationary pressure we're seeing particularly in things like c... | Hey, Matt. Good morning. Second part of that, we do expect to offset inflation in 2021, but part of the achievement in the back half of 2020 was an anticipation of what's going on -- and what we expect to happen on the inflation side in 2021. So I don't think the actual 2021 price achieved will be at that same level, b... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
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