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2c269f50997d86caa9c19c8ac7944677 | Okay. And so as we you start to restart in GES and some of these shows come back online, can you just remind us some of the start-up costs necessary to reactivate that business if you will? And then there are a lot of industries out there that are seeing shortages of labor right now. Is that something that concerns you... | Yes during the pandemic, we certainly cut back on overall SG&A and we did so for the last year to make it through the pandemic. We're in a mode now where we're starting to increase our staff in preparation for the back half of the year. As you know, a portion of our labor that we use at the show site in terms of the ex... | intermediate | [
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e9b16a655e302c13e6231b7c6cb2b7d5 | Okay. Excellent. And a housekeeping question, I think, for Ellen. Just in terms of the capex side of things. Can you remind us -- I think you said $20 million spend in the second quarter. How much are you looking for the full year? And how much of that will be categorized as maintenance capex spend? | Yes, Tyler, we haven't given guidance on the full year, but the first half is little more heavily weighted due to the FlyOver Las Vegas. So we had about $20 million in capex in the first half for FlyOver Las Vegas. That's a big part of the $20 million in the second quarter, FlyOver Las Vegas, Golden Skybridge and the J... | intermediate | [
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ccfcb8ca877e2ae684ed24ea96c91f01 | Okay. And I think just the last question for me. Just in terms of capital priorities moving forward here, I think you laid out a pretty attractive growth outlook from your next few quarters with things getting better. Just any thoughts on strategically what might make sense besides just M&A, especially on the GDS side ... | Yes. We've been pretty clear in terms of our growth strategy and we're going to continue to invest in Pursuit along the lines of Refresh, Build, Buy. Obviously, David, in his comments, talked through a number of things that we're bringing online right now. So those types of acquisitions or development projects are ones... | direct | [
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ef0a1c50f1c646760a2c4a8d732364ee | This is Alex [Phonetic] on for Kartik. And our first question just comes from the Pursuit side. And what type of demand are you seeing from residents within the Banff Jasper location? And then if those locations remain close to U.S. tourism for the summer, are you planning on keeping that discount for the residents dur... | Yes, I'm not sure which discount you're referring to, but I can give you a view to demand. So we're pacing for Jasper right now 17% ahead of what was quite a strong season in 2020. And that is really primarily all Canadians traveling. There's no international business in that growth mix. And we expect that number is ju... | intermediate | [
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d238c528f16290e6ad9ea16e391aff0d | Okay. Great. And then are you taking international bookings for the Banff locations? Or is that a wait and see into the May 21 date? | There are folks booking, and they're booking for obviously further in the year, whether that's September or October or August, dependent upon travel trends and what they're seeing. Actively, Iceland is accelerating right now. So we're seeing lots of movement into Alaska, Montana and Iceland. And then obviously, the Can... | intermediate | [
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126c144169ad04a7fe803b5ffdcfa1b1 | Hi, good afternoon. Just curious on the -- maybe on the GES side, how you see that business coming back? I mean, you talked the airlines seem to think that business travel kind of comes back in the fall and then you see a much stronger resurgence in January when budgets get opened back up again. Just kind of -- is ther... | Yes. Good question, Steve. Obviously, there's been a lot of conversation about the leisure travel leading the recovery back. And as David talked about in our notes, we see that happening right now. What we see for GES in the back half of the year, we do see the number of events that we -- that we will produce being gre... | direct | [
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6424ef35781abd686a6f08ea1dd8f583 | Okay. That's helpful. And then -- and maybe on just Pursuit. I'm sorry, going back to GES, I think you said that in the third quarter you expected GES to have better cash flow or -- I don't think you said cash flow positive. Is that correct? | We expect that it would be cash flow positive, but depending on how the pandemic went -- but we do expect to be cash flow positive. | direct | [
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af997448dd2e7c12083e2ee0962ebc69 | Great. Okay. That's helpful. And then maybe just moving to Pursuit. Can you just remind me in terms of international? And I guess, I mean, other than the U.S. and North America, how much of that market is typically international? And is that a governing factor in the near-term on how well those properties can do? Or do... | Yes, Steve, thank you for that. Pent-up demand is really powerful. And we're seeing it, as I mentioned in my remarks, I mean, we're seeing right now lodging pace ahead in Alaska of '19 by 44%. If you translate that also looking at Montana, we're tracking very strongly in Montana. Call center activity significantly ahea... | direct | [
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fdbbff08bf8d7528cd6d8a46f1128285 | Thanks so much. Had two questions. First one, just thinking about Pursuit and in terms of room rates, if we were to look at where they are now compared to where they were in '19, any feel for where rates are? That's the first question. | Other than joy and encouragement, it's actually pacing quite well and not specifically RevPAR and ADR. So we're seeing growth across categories. Right now, for instance, in Glacier, we're trending up 21% from '19. Significant growth in Alaska as well. Strong performance in Jasper. So we're seeing not only volume increa... | direct | [
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a922ce5ce40dd86e51cac5d092eb0ea6 | Great. And then second question, a little bit more of a big picture one. If we look to '22 and not looking for guidance or forecast, but -- or maybe even not even talking about a year, but assuming '22 or '23, whatever, is back to normal. What's the right way to think about the earnings potential of the business? Becau... | Well, I think if we compare the earnings of, say, 2019 pre-pandemic to where we will be at full recovery, I'm not going to put a time to when that happens because the businesses are coming back at different paces, I mean, clearly we'll be better or off. We've seen -- we believe there's margin opportunity within the GES... | intermediate | [
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6c649ade1b9ffe50bc897a432737218f | So it looks like we're seeing the acceleration in demand in your Data Center and Cloud and Managed Services, but is that -- we're not seeing that translate in the Technology Integration Services. So, but why is there this anomaly [Phonetic] where you are seeing this strong growth in certain parts of your Data Center Se... | So as all of us are aware, most of the Technology Integration Services business are where the customer spends the money upfront. And with this current situation going on across the globe and definitely also in the Indian market, we expect this business to go down, not only for us, but for all the relevant players in th... | intermediate | [
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2149145b18fecad1b9f558c90791a950 | Okay. So I guess so this is a longer term. This is not necessarily -- maybe it's been accelerated by the recent -- what's going on in the market with COVID, but this is a longer term trend you expect the business so transition more to the consumption Data Center managed services away from kind of the Technology Integra... | Yeah, I think, what is the thing is, before the system integrator, hardware gates and on-prem data centers used to be there, now it's moving toward the cloud and on the co-lo data center space and now being a cloud, that Technology Integration is more of a system integration going down. That means you're seeing more ad... | direct | [
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83e5f1189ea8008751534b11f76b6c44 | Okay, perfect. And then in terms of the Network Services. Can you just talk about the dynamic there with the Voice? What was driving the significant decline in Voice? And do you expect that to stabilize or rebound at some point this year? | Yeah, I think that one, I think, temporarily reduced, but I think it will -- over the time, I think that one will be come back and people keeps talking, right? And that one will come back but our traditional network business is intact. But this Voice is -- we see as a -- we believe that it could be a temporary slowdown... | intermediate | [
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2bda5705a66215a5354999a9521125b3 | Okay. Is there a difference in the margin profile of the Voice versus the data component of business? | Yeah, we would like to sell the data. We are the one of the biggest data network provider. Our interest is to sell the more data than just the Voice minutes. | fully_evasive | [
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470330de71c845ae8cd9f794efeaadc4 | Okay. All right. What was the debt balance at the end of the quarter? | The debt balance at the end of the quarter, net of cash is $80 million. | direct | [
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61343d22053c88bc0fb04ebb6753330d | Okay. Okay, and then it seems like your -- you had a couple of big capex years the last two years, it seems to have slowed down a little bit this quarter. But what's your outlook in terms of investment this year around your network and data centers? Do you expect it to slow this year? And then I guess, do you expect yo... | I think we are going to invest both data centers and the network, coming year and actually this is a great opportunity to expand our data center business and same thing we are doing the metro networks. So that way we will start spending to increase this opportunity to take our data center position and the network. So V... | intermediate | [
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5f541985955d573e6a8970907c5847e4 | I think the last quarter you said you would expect about -- I think it was $3.1 million of revenue churn this year. Is that still roughly what you're thinking about? | Yeah. I think that that was -- we called that out specifically to the two customers that we knew were churning. The reality is, in the first quarter it was a little bit heavier than that. But as we said in the prepared remarks, as we go forward in the year, we expect that in Q3 we'll return to quarter-over-quarter sequ... | intermediate | [
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943fb3882d16015b11fb9884dabddb08 | Yeah. Got it. And then maybe any comment on bookings? I think last quarter, you said there was a record bookings quarter. How are bookings in first quarter relative to, say, normal first-quarter bookings? | Yeah. It was actually our best first quarter ever from a booking standpoint. | direct | [
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b918f5955579c71871cf01e6a76348f9 | OK. And then, from a channel standpoint, I think you did 20% last quarter. Like how did the channel perform this quarter? | Yeah. So we saw good traction in terms of the number of channel partners that we signed. We talked about in the script that we signed about 10 new channel partners. But we were a little bit down quarter over quarter in terms of the percentage of business that rolled through the channel. As we look at that, though, it's... | intermediate | [
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c9190b975a380daad40a7c89b7fdc0cf | Great. And then just last on virtual events. Any just sort of qualitative commentary on the demand or the pipeline you're seeing there? | Demand is solid. And as we talk to customers, there's no discussion about, well, when we come out of COVID, we're going to just go back to live events, we're not going to do virtual events anymore. We continue to see interest in making this part and parcel to what they do. And in fact, that's why we announced the new v... | direct | [
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f233bd4eae240446d4dbb798043bed75 | Good afternoon. Rob, can we just start and get a little more clarity on this retention issue? You had telegraphed the two customers that were going away in Q2, leading to that sequential downtick. So are we to read into the Q1 number, there were some other customers that turned off as well in Q1? | Yeah, that's right. And I talked about that in the script where there were actually two additional media customers, one of which downgraded in a similar situation to -- in H4 last year when they brought a portion of the business in-house and one of which was actually a consolidation on platforms within a company at pos... | direct | [
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2be0673966f4bfcee6e79ed84823305c | OK. And then we have two more to go through in Q2. And then as you look at your portfolio of media customers, do you think you're through a lot of this churn? Or is this something that is just the nature of the beast with media consolidations and you're going to have to deal with this going forward? | Yeah. This is Jeff. Hey, Steven. Yeah, there's certainly churn in media. There's -- I mean, you see it every day, right? You saw what Verizon announced today. But I'm excited about the way we're getting control of this for the things that we can control. The -- we had sent a message to everybody last summer that we wer... | intermediate | [
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dd51b2da4780b7749c7a323e59016428 | OK. And then ARPU was surprisingly strong, given last quarter was boosted by that Japanese one-time event. Do we contribute the sequential strength to South by Southwest? Or you're just doing a good job of kind of selling a larger initial package than -- | Yeah, it -- yeah, Steve, it really wasn't South by Southwest, South by Southwest bought more of a kind of annual license. They didn't really buy just for the short period of the event because they launched that on Beacon, there's the follow-on content and follow-on access to that content. So that revenue didn't all tak... | direct | [
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163fb239d885108e8983ef5ae96e5e83 | OK. Great. That's a healthy sign. And then, give us some color on the margin pressure in Q2. Obviously, yes, you've got a revenue step down in the subscription and support side. But there is a lot of margin pressure there, maybe more than I would have thought. And what's behind that in Q2? | Yeah. I think there was two things. One is obviously the revenue step-down, right? We're not pulling back on operating expenses in the second quarter, in line with that. And the second piece is we're continuing to invest in sales and marketing, right? We see the opportunity in front of us, and we're continuing to make ... | direct | [
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79430f3e57feaa2d6c9339f0683a841e | OK. And then lastly, what were overages in the quarter? | Overages are right around $2.2 million. | direct | [
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783b7e95c11264c0f665495de8957a57 | Yeah. I wanted to dive into the additional turnover or churn issues that you talked about for Q1. I understand you have a downgrade and somebody takes it in-house. But just wondering, on the platform consolidation, was that consolidating to an in-house platform also? Or was that a consolidating to a competitor's platfo... | Yeah. It was consolidating to a mix of platforms across. It was a joint OTT and then some video delivery. So it was consolidating to really a competitor, not an in-house platform. And again, it was around one company had two platforms and the parent company one. | direct | [
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8500f130aa1a6ff795545d2416078c41 | OK. All right. And then, as I look at the kind of implied for 2021, just backing off the services guidance from the full-year guidance and then knowing that we're going to kind of trough here in Q2 on the subscription and then raise our head back up in Q3. It does look like a pretty substantial implied step up. I'm won... | Yeah. I would think you would see a relatively consistent step from Q2 to three and then Q3 to four. | direct | [
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b7cc31b578ce6ed5d50abc67df7ae04a | OK. And then the -- when you talk -- I think, Jeff, you may have touched on this, but we're talking about virtual events for business, for virtual event creation. And I think last summer you had a product or a capability platform, whatever the terminology, virtual event experiences, is that what you mean? This is kind ... | Yeah. This makes it just easier to buy it and to deploy it. We've done enough of these now to know where the sweet spot is. We also know where our partners' products do a great job of augmenting where our gaps are. And so we're just collectively taking that experience and putting it together. Also, this time around, I ... | direct | [
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ab2718f31f9ddd773c487e7b61791aa6 | Great. So my first question, can you help frame the restructuring announcement? What's the annual savings target you hope to achieve when the dust settles? And how would you characterize the efforts? Is it part of an ongoing journey or is this the big bang on the path to 2023 with the balance of the margin lifts coming... | I will start and Andy probably will chime in, Dan. Thanks for the question. Generally speaking, Dan, it's part of our three years trajectory that we have communicated back in December. This restructuring will go through the end of next year. So it's a two years initiative to complete it and basically, everything is kin... | intermediate | [
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e2d632001ed749841cd1d01de6e6648e | Okay. And then, just my follow-up, could you elaborate on performance in your clinical segment? It does seem like the quarter-on-quarter weakening in the organic growth rate, seems a bit discordant with what some of the market are saying, some of your customers are saying, so could you elaborate further on what you thi... | Sure. So really, it is a story of product mix and region. So at a macro level, we're about 80% to 90% pre-COVID levels. And in North America, we're very close to pre-COVID performance. The real material dynamic is related to Europe and the step up in restrictions and lockdowns that we saw in Q4, had a pretty big impact... | direct | [
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33485d653932697ef4ab5d016745e0df | Hey thanks. Good afternoon One, in terms of the '21 top-line outlook, pretty encouraging, given some of the comps you're lapping and kind of the roll-off of these COVID tailwinds. Can you help us understand some of the upside and downside variables that that you're thinking about? And as far as the recovery in diagnost... | Yeah. Brandon, I'll try and put a bit more color around that. So yes, obviously, a big step back on the COVID sales anticipated as we indicated. Core Clinical Diagnostics, continuing the recovery trend that Dara talked about, but not until second half after do we get back to full normal consumption in our view. The fir... | direct | [
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0f41b04271bd66a296f22863407bcab4 | In terms of your new COVID PCR tests, to what extent if at all, have you baked in any incremental contribution from those tests? Can you talk about your manufacturing capacity on a monthly basis, and remind us approximately how big is your global PCR installed base? | So, I'm going to ask Annette, she would like to comment and then I might add on that? Sure. We spent a lot of the years scaling manufacture, to meet demand both for our platforms and other regions and consumables. And I think we're in a pretty good place right now to meet customer demand across all of our PCR products.... | intermediate | [
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970c544a2964a5d5830fcf351fcb2154 | Got you. Maybe a follow up for you, Annette; on the DD-PCR business, can you give us a sense of just how fast overall that business is growing, maybe including -- or ex-COVID? And are you pushing hard enough into diagnostics specifically? I mean, I know you've got one FDA approved test on the platform. Are any other ki... | That's a great question. So you probably know that we talked about strong double-digit growth, pretty much at every earnings release from that product area, and we continue to anticipate that in the future. The research market is still growing strongly, the biopharma discovery and production markets are growing strongl... | intermediate | [
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e1b4ce14d5c71ffe447c83831f87c43e | Okay. Maybe one more for Norman. The Sartorius stake is worth about $12 billion now, give or take, that's about 65% of your equity value. Implied valuation on your stock, stripping that out, is still pretty low. Is there any sense of urgency at the Board level to monetize the stake? Is the Board considering any strateg... | So we certainly haven't, at the Board level, talked about a tax free spin. As we've said in the past, we continue to see that as a long-term investment, and I think we've got seven or eight years to go on the trust. Obviously, they continue to do very well, and so that's kind of where we are today. As you know, we've a... | intermediate | [
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9035e04c587996fa592236029b868595 | Hey, thanks for taking the questions guys. Norm, maybe while we got you, I'd stay on that topic there with Sartorius. In the past quarters and the past meetings we've had with you, there has been some willingness to kind of address larger deals, and it felt like maybe you were kind of wanting to do something larger. It... | Yeah. So I think like many of our peers, we do continue to look for those products and technologies to add to our portfolio. I think as you know and we've said more recently, we're especially interested in the idea of doing something larger and maybe even transformational. But of course as you know, these larger transf... | intermediate | [
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bdbb8c7045e80da4cb4df9a36aa90843 | Understood. Okay. And then Ilan, maybe for you just on the COVID expectations for '21, certainly appreciate the -- call it, half of what it was in '20. At the same time, Norm kind of touched on at the end of the prepared remarks there, it's very uncertain how this whole thing will play out. The pandemic doesn't seem to... | Sure. Thank you, Patrick. Generally speaking, you're right. I mean, we took into account or what we project and what we believe that the second half of the year will kind of normalize, and we will see the gradual improvement in diagnostics and the tailwind from -- the COVID related sales will start to tail-off. So the ... | intermediate | [
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83ec33cb826343e4180868b5d7ff96dd | Yes, sure. And then one for Annette, just on the wastewater opportunity. Certainly is getting a little more attention, it feels like momentum is picking up there. Do you have any better sense of how big this market could be for you guys in the near term? And then, maybe just talk about the uptake you saw in 4Q and then... | Sure. This is brand new market, obviously, and kind of rapidly developing and emerging. I think that our best estimates are probably somewhere up to $200 million, over the next several years, say four to five years. We're looking closely at it right now. Most of the demand is North American U.S.-based. But we are certa... | intermediate | [
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0856abdd0ee5d417536ab2f356fd809b | Okay, great. And just a quick housekeeping one for you, Andy, appreciate you saying the PCR test is a modest benefit. Just got a couple investor questions in terms of what modest means? Should we think about $10 million, $20 million or just any ballpark would really help in terms of the dollar amount? | Yeah. I think you should be roughly in that range. As I said, our upside was driven predominantly by the instrument placements. And so, we recognized -- we went into molecular diagnostics segment. And this is coming late and we've got -- I think, well-reasoned aspiration on those products. | direct | [
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194ef08e2f605578569db94aa78584ff | Thanks. Good afternoon. I was hoping you could give a little bit more color on the bioprocessing business, [Indecipherable]. Sounds like from the commentary, you ended on a pretty strong note. Was there anything you could call out, in terms of demand and maybe do you think the COVID vaccines help contribute to that? | Well, certainly, all of the vaccine developers are already our customers in this area. We this is a business that, while there are some fluctuations quarter-over-quarter, overall has been delivering strong double-digit growth. And primarily, it's because of the markets that we address with these products, the biologic ... | direct | [
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b5d9c728fc679d58df960f006e0d756a | Great, And then, on the litigation award that you recognized in the quarter, that covered the period 2015 through 2018? What about 2019 through 2020 and how are you going to account for this kind of on a go forward basis? | I was just going to say, we really -- we still have open litigation and we don't really discuss that in advance. But perhaps Ilan has something to add about how we're going to treat it. Yeah, you're absolutely right. So we don't anticipate to book anything additional, so long the litigation is still on. | intermediate | [
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9c2bf02030c938a89f75d50c0b4501fd | Got it. I know, when you laid out the new targets, one of the growth drivers you've talked about is single cell. Andy or Annette, I was wondering if you just give us an update on some of the work you're doing there, and any updates we can maybe expect in terms of products and from Celsee this year? | Sure. It's still early, we haven't even had a year yet post acquisition, and certainly, it was an unusual time to acquire a start-up. We are investing, I think significantly in that area in our Celsee acquisition and our goal is to put compelling tools for single cell analysis that really provide best-in-class biologic... | intermediate | [
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e19f741dacaa9ff40e38868b28bb827d | Great. And maybe just one cleanup. Can you just confirm in terms of the COVID testing tailwinds, are you going to be booking that entirely on the Life Science side or will any the test kits be reported in diagnostics in '21? | I mean, it's predominantly still Life Science based. If there's any pick up on, we've got serology tests on the diagnostic side. It's very, very small. We've got some antigen based sales, but they'll get reported in clinical, if they become material contributors. | direct | [
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969385874a069bc1e01e91fa95e3c0a6 | Great, thanks. In terms of the -- maybe Ilan or Annette, in terms of the COVID benefit in the fourth quarter, was all of that PCR instrumentation and was DD-PCR a big part of the sequential uptick? | Brandon, most of it was associated with our qPCR products. Certainly, there was some upside from wastewater in Q4, but mostly we were getting kind of organic growth out of the Droplet Digital PCR business, and by the fourth quarter, we had really completed scale up of all of our manufacturing for the platforms, so that... | direct | [
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1e748a4703e4993870869058d7ada303 | Okay. And then, Ilan FX rates have obviously moved more favorably recently. Do you have a general sense of, what currency should add to the top-line in '21? And then, maybe a sense of how accretive that might be to the year-over-year margin expansion? | Yeah, it's a great question, Brandon. It was probably about 2% for 2020, so when you think about 2021, I mean, with the projection that the dollar will continue to weaken. So obviously, it does contribute to the top line. There is, obviously some negative impact on the operating expenses, as well as on the manufacturin... | intermediate | [
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9cdb76b516fa4b807db11e69f05794de | Got it. And last one for me, are you still planning to host some type of Analyst Day event in the first half of the year? | We do. We do plan to host it sometime later this year. Again, we have to kind of find the right timing. I mean, hopefully, again, with vaccines, everything will normalize, so that would be a great opportunity. | direct | [
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662f7a367dd52a4cd48741d47c782e37 | My first question, and my biggest question is, Suzanne, I don't know if you've thought a lot about it, maybe you have. But what would you say are the two or three biggest priorities you have as you assume the CEO job at Accuray? | Thanks for the question, Brooks. And thank you. Yeah, my priorities over the next 60 days are to ensure that we have a very smooth transition between Josh and myself. Then my priority is really building on the foundation that we have started to build and continue to strengthen our fundamentals. We absolutely have to ex... | intermediate | [
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"fully_evasive"
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b667a9431470a5d2af71c72460b4bca9 | Great. That's very helpful. And then, , I guess, the second question, obviously, concerns about the environment in China, given the lockdowns and the recent COVID experience there. Do you perceive any fundamental change in the overall demand picture for Accuray equipment over the next few years? Or do you see the curre... | We think it's temporary. And we have very close communication with our team on the ground and despite the, I think, stringent policy going on in Shanghai and potentially moving on to Beijing. I think the feeling on the ground is that it is temporary. Business is still being transacted and we're certainly seeing that. W... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
1996d2950f555691e1d89f296cebaf2c | Yeah. I wanted to start here maybe on the demand environment. You mentioned the healthy demand environment globally and then broken out sort of by geography, sounds like Americas and APAC have been very strong, but a little bit of uncertainty in EMEA. I wonder if you could dig into each of those a little bit more. I kn... | Yeah. I mean, I think, again, we're seeing the strength in the Americas, partly due to the investment that we've made in our commercial infrastructure in the U.S. We are seeing very strong pipelines for demand and customer demand for some of the new products that we've introduced. So we're encouraged by that. Again, Ch... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
89be44745f337e50e9f7b6616fdcae48 | OK. That's helpful. And then, maybe my follow-up here on supply chain headwinds. You certainly talked to us about this last quarter, and it sounds like, indeed, the constraints are impacting some ability to meet demand. Do you have a way to size the sort of impact from that constraint here in the fiscal third? What yo... | Yeah, I'll start and then I'll hand it over to Brandy. But I think that we, obviously, we saw some challenges in Q3, we expect they'll be similar in Q4. And we think we're going to see them through the end of the calendar year, at which time we think that the supply chain will start to catch up. And just in terms of mi... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
cbc93a829606e1d7efd0482b596476e9 | Hi. Thanks for taking my question. And I have to pitch in my congratulations, Josh, to your retirement. And look, good luck to the next chapter. And Suzanne and Ali, congratulations on your new positions. It's a great news, and we're looking forward to tracking the progress of Accuray under your leadership. Wanted to a... | OK. So Josh, let me take your second question first, which is more on the timing on the type B product and just from what we can sort of see at this point. It takes between 10 to 12 months to get NMPA approval once we submit. Again, we need the COVID lockdown to lift before we can get that final registration. So at thi... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
d2e9fd8deb660d8d39a1f1524a8f1ae6 | Great. And just in terms of thinking about agents, I mean those agents will convert right to revenue, correct? And they will not like the backlog, right? | Correct. That's right. that's right. | direct | [
"direct",
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"fully_evasive"
] | A |
a187f588ea6b798caf3552a93e88bff5 | And then lastly, just as we -- I can't believe we're going to be in May next week. But ASTRO has been right around the corner in just a few months, but just wanted to level set our team's expectation, and we're getting more and more excited about online adaptive and all the work that you're doing with RaySearch and int... | Yeah. Thanks for that question. Actually, we're within weeks of going to ESTRO in Copenhagen. So that's the European meeting and then ASTRO in the fall. And ASTRO, we're excited because we are going to be showing in partnership with RaySearch, a sneak preview of our online adaptive using the ClearRT as input. So we're ... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
0a6c158a6d1ec4e502313c033b09d76f | Hi, everyone. First, Josh, congrats on retiring. You'll be missed. Best of luck on the next endeavor. And Suzanne, congrats. Look forward to working together. I guess, two for me. Just picking up on the China opportunities, how would you size the financial impact of the pushout in type B and for the fiscal year? And is... | Yeah, I think that's a great question. I think there is opportunity to catch up. And I say that because we're going to do a market launch, and we're still on track to do the market launch. So hopefully, we'll be driving some pent-up demand and influencing customers' purchase decisions so that when we get the approval, ... | intermediate | [
"direct",
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] | B |
42121a18b3e0a898793538a38f776bea | Great. Thank you for that. And then, we're hearing a bunch of companies at this point, most recently this morning with Integra, comment on FX headwinds that they're -- higher than expected even a few weeks ago. And we are seeing changes in expectations around guidance. And I'm curious what you are seeing at this point... | Yeah. So on the FX front, I mean, overall, we're only -- we're not seeing a lot of FX headwinds. We are definitely seeing some in our revenue, but not to a material impact. We have a hedging program in place, so that hedges our balance sheet pretty effectively. So at this point, we feel fairly covered. Now, that's not ... | direct | [
"direct",
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"fully_evasive"
] | A |
013dc0a43eec3d09f1ac531d58610472 | Hi. Thanks for the questions. Josh, congratulations on your retirement. Job well done. I think you're leaving the company in a really interesting point. And Suzanne, look forward to continue working for you. And Ali as well, or Azi as well. So with that said, I just did want to ask a couple of questions. First, if I co... | I'll start with the contribution. We did $26 million in revenue and $20 million in orders. And just from a backlog perspective -- We have about $70 million remaining in our type A for China in our backlog. | direct | [
"direct",
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] | A |
096ebd0b9b7264301d074af2dd9a67b7 | Oh, great. Very helpful. And then, I noted -- you noted you commented that Class B is probably at the current timeline, I think fiscal '20 -- Q4 of fiscal '23 is the outlook in terms of when you anticipate approval. Is that a change from your thinking prior last quarter? And is that -- and it sounds like that's been i... | It's definitely been impacted by the COVID lockdown. We've got one more step to go through before we can submit for NMPA approval, and that is really to get our notified body on site to finalize the report. And really since before the Olympics, before the shutdown really for the Olympics, we had been waiting for that f... | direct | [
"direct",
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] | A |
52aefe324e91b2aa3a5c833148b181c6 | OK. That's helpful. I understand. And then, you mentioned it's still a little clouding in terms of some of the cost inputs. You've made some changes. But based on your guidance on EBITDA, at least, it sounds like the outlook has -- you have made some adjustments. So otherwise, the outlook is kind of in line with what ... | Yeah, that's right. That is exactly right. Then that is why we're maintaining our guidance at $15 million to $20 million. | direct | [
"direct",
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] | A |
81cffdb0f269e199d3383b21c2aa3c50 | Hi, everyone. This is Menon on for Peter. Congrats on the progress this quarter and thanks so much for taking our questions. I guess really quick on 1359, so you've announced going into breast. Are you also still expecting to announce the second tumor type this year And will that depend on, I guess, some data coming ou... | Actually, we don't intend to announce the second tumor type. What we've -- just to be clear, we intend to do the initial trial in breast cancer patients with metastases to bone. What we have shown, and what you may be thinking of is that we have -- we've got a rich set of preclinical data with this molecule, which has ... | direct | [
"direct",
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] | A |
8a63a63cab7d9cd914e31f5dcb20e80d | Got it. Great. Thanks, very helpful. And then I guess for the Hovon, so initiation of that trial is to open this year. Is there like a lag in the -- between administration and enrollment Is enrollment also expected, I guess, maybe sometime this quarter as well. Or is that going to be throughout -- I guess the first enr... | Yes. As far as the Hovon group goes, we continue to make progress with them in terms of getting that trial up and running. As you know, with the consortia trials, the company doesn't control the initiation of the trials. Those are more -- we collaborate and we support the consortia, and then the consortia, actually, it... | intermediate | [
"direct",
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] | B |
a1844e1524f70212326e7589dbe96bfd | Great. Got you. Thank you. And then one final one from us. With the milestones coming from the rivipansel from Pfizer, do you guys have a timing on -- expectation of -- I guess, is that -- I guess, sometime next year, you're expecting the about $70 million for the regulatory filing. And then I guess would the next mile... | Yeah. So we haven't given specific guidance as to that timing. I think, let's take it one step at a time. We'll get through top-line data and then at that point, I think, you can probably expect Pfizer to give more specific guidance as to their plans for filing and launch. The milestones to us are driven by acceptance ... | fully_evasive | [
"direct",
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] | C |
ee464ad369fd6dc8b919863056da4d83 | Great. Thanks for taking my call. So just on the Hovon study, Rachel. I know it's not your study, but is there any issue that you're aware of with the start of the trial as far as -- an issue with the site or enrollment or any patient issues or is it just sort of them having to work with institutions to get things goin... | No. It's just a matter of logistics and getting things up and running there. But there's no -- no specific other challenges. | direct | [
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] | A |
f1606327165c6fa006ae4cd50f601600 | OK. And as far as the enrollment in the U.S. and Australia, I'm just wondering if you're seeing any issues there in enrolling patients due to new treatments that are available in the many ongoing clinical trials that are already open? | Actually, in the relapsed/refractory setting, we feel the path is still fairly clear as far as new drugs are concerned. Perhaps Helen could comment on that a bit more, but we're generally very pleased with this -- the start-up and the enthusiasm that we're seeing in terms of getting sites up and running and in terms of... | direct | [
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] | A |
63cb8cfca8b0028307177402d06d7912 | OK. Great. Thank you. And then just a quick question for Brian, R&D expenses down slightly sequentially, which was a bit surprising seeing how you're starting up the trials or ramping up. I'm just curious if there is any onetime things going on in the first quarter that will no longer play on the second quarter and sho... | From an R&D standpoint, 2018, a lot of heavy spend was on manufacturing for the clinical trial supply. So I think that wound down. And then during the first quarter, expenses were winding up for the Phase III trial. So there, you can continue to see overall expenses on the R&D side increase over the next three quarters... | direct | [
"direct",
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] | A |
a1594dd7d51babac1d7056cd6fa9f246 | Hi, guys. Good morning, and thank you for taking my question. I was wondering on rivipansel, since the data is coming up, perhaps could you expand on your latest understanding of the market it addresses. How many crises lead to hospitalization these days, and how do you that might change upon a potential approval for c... | Sure. So there's about 100,000 hospitalizations per year in the United States for treatment of crisis, and we expect that the -- that that need is going to continue to remain even in spite of the potential of some of these drugs that could be more preventative. As you know, hydroxyurea has been on the market for many y... | direct | [
"direct",
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] | A |
ab3586b4d8bbf04d8f226ae0bf809d56 | OK, right. Exciting times. OK, thank you. And then I might have missed this, but did you guys say when the data from the GMI-1359 study is going to be available and then when that Phase II might start? | So we didn't say that specifically but I can answer the question that we intend to initiate that study in the second half of this year so we would expect to have data during 2020. We have not given specific guidance as to when a trial following that would start. That would depend on the data and on the selection of the... | direct | [
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] | A |
7a01f3c652573a8fb2b4dd70808321d4 | Right. And so that would be -- that will likely be a biomarker-based Phase II. So... | That's correct. Yeah, that's correct. And I think -- and we'll be saying more in the future about what those biomarkers are and what we're evaluating. We're very excited about the opportunity to get a look at some pharmacodynamic activity of the compound. Also, it's important to get to the normal dose escalation and sa... | direct | [
"direct",
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] | A |
e72626fc6e0d0c92f90304df70ec811e | Yeah, good morning. Thanks for taking the question. This is actually Steve on for Steve Willey. Was just wondering if you can elaborate a bit on how you're thinking about the Phase II trial design for 1359, particularly with respect to the dosing schedule to be utilized and how you see that playing into the breast canc... | Yes. So the dosing schedule is really oriented around getting through as against sort of normal dose escalation questions, and then in that context to evaluate biomarkers. So I think it's actually too early to talk about how that might play out in the breast cancer setting in particular, because there are a number of i... | intermediate | [
"direct",
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] | B |
26623ffb96807c7a0220c46873ccb71e | Hi, Rachel. So on the upro Phase III relapsedrefractory trial, I know you started to open site. Can you just talk a little bit about patient enrollment? How many sites have been open? And how many additional sites will be opened through the remainder of this year? | Yes. So we've decided we're not actually going to be giving specific updates on accrual and sites as the study goes forward, but I can tell you that it's been a robust pickup. We've got sites in the U.S. and Australia already enrolling. We're about to open sites in a number of different European countries and in Canada... | fully_evasive | [
"direct",
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] | C |
431620b6509968374a23c734fdc843e5 | Got it. And then on rivipansel, I think you noted in your prepared remarks patient enrollment should -- could complete by end of this week. How long do you think it'll take for Pfizer to analyze the data and to issue a top line? | Yes. So so that's really up to Pfizer, I have to say, in terms of how long it's going to take them, what I can say is they're running the trial, they're anxious to get to the data as we are. I think the fact that they're close to closing enrollment is a significant accomplishment that gives us confidence that the top-l... | fully_evasive | [
"direct",
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5c550203261ae179705e0efa72c8bea9 | Well, I think in their slide deck, they communicated that data in second half '19. So clearly, that's a shift from the end of June timeline that was previously communicated. So do you -- I guess, should one expect that if enrollment is about to complete, that that would probably imply like a July timeframe for data? | Well, I think you are correct that it's not going to be the end of the second quarter. I think that's clear. And it's true, I know that in that particular slide, Pfizer communicated for all of their programs, just to -- they gave six-monthly guidance as opposed to quarterly guidance. And so we'll stand behind that that... | intermediate | [
"direct",
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] | B |
029d9d959b9d83b1eb8fecf62cd4dcb6 | I was hoping I could just get some color on how you're thinking about your momentum over the rest of the year. Is there anything holding you back right now in terms of staffing, hospital capacity, anything like that at this point? Or is it basically back to normal? | That's a great question. And from our perspective, it's pretty consistent with what we talked about last time is we're very comfortable with what we're able to do in the current environment. We have a lot of confidence in our growing sales team and a lot of our commercial initiatives. But with respect to the rest of th... | intermediate | [
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a2cfde9d25d25d73c7d01e2d8f58408e | And then is there anything new that you're seeing on the competitive front? I know there's some new products out there and one of your competitors was recently acquired. So what are you hearing about adoption of these products? And have you seen any sort of tangible headwind? | Hi. Lilly, it's John. Yes, we've been competing alongside a couple of these products for a couple of years now, Stryker as a system and the CrossRoads system that was acquired by J&J. We haven't seen any real change in the competitive dynamics on that front. We continue to kind of run our offense and build our business... | direct | [
"direct",
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] | A |
dd00ebedb00abc84389148697db841e7 | Maybe just to piggyback on that last question about the competitive landscape. But just curious how you're thinking about building your portfolio. Is the focus going to remain on foot, potentially move at an angle? Just curious how you're thinking about it, especially with a building direct sales channel. | Hi, Drew. John. Thanks for the question. And I think the way we're going to approach it is ongoing like the way we've been approaching it, and that's looking at this bunion problem and continuing to advance Lapiplasty to be quicker, easier, less invasive. And then we're also going to be looking at other opportunities t... | direct | [
"direct",
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] | A |
638b2f8135c0c3159b3844a0d91e338f | Got it. And maybe just on the backlog for a moment. I get that from your prepared remarks that there was a catch-up in the first quarter from delayed procedures. Just curious if you can maybe help us size that so we can get a better sense of maybe what your normalized sequential growth will be in the second quarter. An... | Yes. And thanks, Drew. This is Mark. I think there's a couple of parts, so make sure I get both parts of that question. With respect to some of those procedures that came through in Q1, as I mentioned, we're actually really encouraged because from our perspective, it really shows that both surgeons and patients are rea... | intermediate | [
"direct",
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] | B |
378b04de0e6fdabe274e630e24f46405 | Just if I could, John, ask a question about the stickiness of the Lapiplasty procedure, just in the context of new competition coming to market. Once you get a surgeon going, sort of what's the most important part of the surgeon's journey that makes that surgeon sticky and more likely to stay with Lapiplasty versus con... | Sure. No, it's a great question. Hi, Danielle. And I think there are several factors. Our whole kind of commercial strategy is wrapped around producing that stickiness. And from the way that we initially train the doctors, we hold their hands very closely, provide clinical specialist experts that go into their first fe... | direct | [
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] | A |
5a377e803c7249ddd3026c9efe81d55c | And then congrats on the ALIGN3D publication. Can you talk about how that could impact new users coming to Lapiplasty? Or is that more just reaffirming existing users or going deeper into existing accounts. Is that something that you think will get more surgeons on board? Or how should we think about the impact for thi... | Yes. Great. Great follow-on. I'd say it's going to incrementally help both in supporting onboarding new surgeons, and it's going to further reinforce with our existing customer base the results that they're seeing in their own clinical practice. And we know that each year that a surgeon uses Lapiplasty, the following y... | direct | [
"direct",
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] | A |
86cea6acff05ea0552a282904af89660 | Phil, so you spent a decent amount of time talking about free cash flow earlier on this call. I mean, the numbers are clearly impressive, mines are operating well, the silver price is fairly strong. I mean, looking just all in all, life is good. Assuming 2021 goes the way that the last 12 to 18 months went for you, wha... | Well, look, we've given guidance on our capital spending for the coming year, about $110 million. We also have $30 million of exploration. I think you can anticipate [Audio gap] continue, that you won't see a significant difference to those numbers, maybe a slight increase. I wouldn't anticipate anything significant.
... | direct | [
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e8d90c9788d64a977f5f8b540502004f | There's been some stories in the recent news about a remote mine having some extensive travel restrictions added due to COVID. Out of curiosity, what's the contingency planning for Greens Creek, if travel to and from the site were to suddenly have to stop 100%? Is your workforce willing and able to just work longer shi... | Yes, so when COVID started, we actually had longer rotations than what we currently have. And so we could go back to that sort of schedule, if necessary. Having said that, I'm not anticipating that that's going to occur. I think we have demonstrated the effectiveness of our protocols at protecting not just our workforc... | direct | [
"direct",
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b7cd5a6612f80abdc6dc18a6d2fab2cd | I had a couple of questions. I guess the first one, with respect to Greens Creek, it looks like you've got more silver coming through, maybe a bit less gold. And then, the base metals have been changing a bit in terms of the amounts. Can you just maybe give us kind of an overview of how the metal mix is changing or goi... | Well, we certainly are in a period of time when we have higher-grade silver. And we gave that guidance a few years ago that with the change in our mine plan, we're able to access higher-grade silver. So I think you can anticipate the mix to be similar to what you have seen. In the past year -- I'm trying to remember s... | direct | [
"direct",
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] | A |
3fa79bed5d7b86a2e5cfb4aacc8a864b | Yes, and maybe I -- I've been looking at the numbers quickly, maybe I misunderstood a bit, but I was kind of thinking I would have seen -- well, it seemed like we saw fewer base metal byproducts kind of from Q3 into Q4 but with silver creeping up, I would normally think silver and base metals are going to go hand-in-ha... | In terms of the ore body, the silver is -- follows the lead and then the zinc is a contributor. So, depending on where we're focusing in order to deliver the highest NSR to the mill, that can vary.
And, Trevor, I would just emphasize to you that, quarter-to-quarter, we have huge variability in this mining. And after 2... | intermediate | [
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] | B |
12000696281de3302470fe020c66ce97 | The other question I had was just on the Nevada stuff. You've had some interesting exploration, and I was wondering, the stuff that you're working on there around Midas, does that kind of fall under the plan of operations, or is this more greenfields? And I'm asking from a permitting perspective. Is this something that... | So everything that we've drilled is within the plan of operation. We are modifying the plan of operation because we see this whole east grabbing target area. There's a section of that that is not within the plan of operation, and we want to drill in that area. But at this point, it's not slowing us down with what we're... | intermediate | [
"direct",
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] | B |
95983e7ed8d3bba6c8a6824042dc0c4e | And then, just final question out of curiosity, you talked about not being able to send some of the material for processing that you're -- at the -- where you have been sending it. I was just wondering, does this mean you have to take it out of state, or are you still looking at options within Nevada? | Well, we are -- we have -- I think there's just a little bit left of the 30,000 tons, which is what we had agreed to, is all going to the third-party processor. So we're doing what we both agreed to. So the 10,000 tons would be additional material that we had mined and had set side. And yes, it is within the state. | direct | [
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d822fbb52b5a57496499634ca1cdfc8e | Hi. This is actually Matt Key from B. Riley, asking a question for Lucas. Thank you for the detailed guidance for 2021. I was wondering if you could give maybe an early read on where you think costs will shake out in 2022, at least directionally compared to your 2021 guidance. Would those unit costs like kind of natura... | Yeah. Matt, I'm not able to give you the visibility with respect to 2022. I guess I would just generally say, if you look at our total costs, those have been roughly the same, call it, a half a billion dollars for the better part of four, five years. It's -- when we acquired the Nevada assets, it went up a bit.
Depend... | intermediate | [
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] | B |
4ad0dcaa9487251a23bbae128cba085c | Phil, congratulations to everyone on the progress, and have a good retirement, but maybe you won't -- that way you won't want to retire. I don't want to retire. Anyway, I was looking at your Slide 12 on Fire Creek, and I looked up that you completed the acquisition in July 2018, and I know there were some hiccups at th... | That's right. So, over the last eight [Inaudible]. So over the last 18 months, we've had that. How much depreciation, do you have that number, Russell?
Look, it's -- realize that what we did was we stopped development, so we are just harvesting what has been developed. Hence, why we're -- we've -- we expect to go into... | direct | [
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] | A |
852b655e42406f81f2e184421ac0bcfa | I'm sorry to be too bothersome with details. For the three-year production forecast, in 2023, the silver -- the gold follow a few ounces and the silver, over the course, gains about 1 million-plus ounces. Is that just grades changing from mine to mine? | Well, it's less -- it's not assuming production at -- in Nevada is the biggest component of that. And then the remainder would be grade changing at both Casa and Greens Creek. | direct | [
"direct",
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9ed96b9ce8875f76510452ba67af1c62 | Thinking about on the rep and warranty side of the world. Obviously, the timing is based on the courts, but it'd be interesting to get your take on some of the recent rulings that have come out and other related cases and if there have been any developments on the legal front related to rep and warranty claims? | Thanks, Giuliano. Yeah, there have been a number of other decisions in the First Apartment relating to the notice matter that the First Apartment ruled on our case that were similar. And those rulings were ruled favorably in favor of the plaintiffs. So, we view those cases as also highlighting a uniform view that a num... | direct | [
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295ab95c512d9cfca47d634bb7d67abd | And then thinking about what you guys are doing on the de-risking side, are there any other large opportunities for other reinsurance transactions or working with services to clean up some of the legacy structured deals? | Yeah, we've got a pretty deep pipeline of opportunities that we are pursuing and aggressively, and looking to implement. It's -- the timing of these opportunities vary in terms of their availability and pricing. And we do have a very rigorous process in terms of evaluating individual transactions, but we do see the opp... | intermediate | [
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e5e240f52d1f68b8d2c99b0b1880bc26 | Then you guys mentioned that you plan on taking out a portion of the secured notes with the Citi CDO proceeds. Are there any other opportunities to pay down those notes sooner? I know there is one asset, obviously, they have a more expensive cost than a lot of the investment securities in the investment portfolio, so t... | Yeah. That's something we evaluate regularly, Giuliano. When we talk about allocating capital, obviously, there is capital needs with regards to the de-risking activity quite frankly -- quite frequently, sorry. And so we weigh those all the time. We have a -- also have a number of investments that when you kind of brea... | direct | [
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] | A |
61e211163685c80bea11e182dea53d62 | Scott, obviously, a strong performance on the A&D margin. Can you talk about whether the transition to the Morocco side is complete. You mentioned pricing quite a bit in your prepared remarks. How much is that contributing is mix helping. I think it is. And then, the sustainability of this type of margin even when comm... | Sure. Ok. So a lot, a lot in that question. So let me start with your Morocco question. So, Morocco is not done. We expect -- we have a five-year plan from Morocco. So Morocco will continue to grow every year as we leverage that as our low-cost platform for Aerospace & Defense. So, it has contributed this year to the m... | direct | [
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154a49fda7bc8b71ee05f895ad4e0887 | Thanks, for that Scott. And then, if we step back and think about the momentum of the overall business right. The Industrial revenue guidance for Q3, as you said the declines are relatively similar to Q2. You could argue maybe slightly worse. Maybe you're just being conservative there, and A&D guidance is only slightly... | You're right. The way you just recapped how we're seeing Q3. So I would say we are seeing similar types of revenue in Q3 versus Q2 to an industrial. We'll see moderate growth sequentially on the Aerospace & Defense side as we go from Q2 to Q3. If you drill down into that to see some of the dynamics. In Industrial, let'... | intermediate | [
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"intermediate",
"fully_evasive"
] | B |
6db84fab2e0039c93c5c7363f94a5e85 | Just one more quick one for me. Can you sustain the decremental that you had in Q2 going forward given you laid out pretty, explicitly temporary versus structural passed out last quarter. How does that balance out as you go for the balance of the year. | Andy, this is Abhi. If you, if you think about company decremental moving forward, let's say it's fair to assume that overall for CIRCOR you'll see decremental in the 20% to 25% range. So very similar to what you saw in Q2. | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
a52419feecd6a6bf7c28479b07a0f39f | A lot of good color on Industrial. I guess what I'm hearing from a lot of other industrial companies is the bottoming April, May, and then starting to get less bad I guess. In June, July and you guys seem to be a little more stable. I'm just wondering what markets are getting definitively less bad, and how much is like... | Sure. I think it's easier for us -- end market, the end markets aren't moving around that much. I mentioned water, wastewater is doing a little better than some of the other end markets. But I think where we're seeing the most difference is by region, and then Aftermarket versus OEM. So if you step back and look at our... | intermediate | [
"direct",
"intermediate",
"fully_evasive"
] | B |
012a9ed44d46e880caf095ed48ccb8f6 | Ok. And then last quarter you gave two Q, 3Q view and clearly have a little more visibility in the A&D side. So maybe you can speak -- is this trend of defense being better and commercial being worse. Does that carry into 4Q as well. | Yes. We have. You're right. We do have more visibility in Aerospace & Defense. I think what you should expect to see in the Q4 is gonna be very similar to what you're seeing in Q3 in Aerospace & Defense. So from a sequential standpoint, you should expect to see similar kinds of revenue. Margin expansion will continue y... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
ad82f3a6faec44a772299aa5d9f0e12f | Ok. And then free cash flow. Abhi, I think you made some comments, but it looks like you're paying everybody on time, and maybe your receivables aren't coming in as fast. So just talk about like working capital for the year, given the revenue decline. And how much free cash flow -- how much of this negative free cash f... | So we are -- let me just start with what we're expecting to happen in cash flow. So for cash flow in Q3, we're expecting to be about break-even. We're still absorbing disbursements associated with the exit of Distributed Valves. We've still got some restructuring expenses that we're going to absorb here and in the thir... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
5d926c476468edd5e83e33d01fb05a05 | Ok. What's the other expense item. There's like $2million headwind I think. | Yes. The other income. So, really what it is, is the ethics impact that we saw in the quarter for the intercompany loans that we have. So that was a bad guy for us in the quarter. We have taken some actions in place for Q3. So moving forward, we'll not be that big an impact for us. We're hedging, we're hedging that way... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
9c91a67cc4801c8dd05753188dd2c461 | I'm just gonna go offer a little more detail on the industrial order trends. If you're willing to. Could you talk about how they progressed through the quarter. Did they. Did the comparisons on orders at least improve as you went through the quarter. And any comments you'd make in July. | Sure. So, we, when we had the earnings call, the Q1 earnings call, we were seeing order rates and expecting revenue at the better end of the range that we had guided. We came in a little better than that. So, I'd say very modest improvement through the quarter last year, or I'm sorry last quarter in terms of orders and... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
e20493db49ea43a5c837323a00f97db2 | And just to follow up on the comment that you're cutting capital expenditures pretty significantly this year. Can you talk about where the capex is getting cut, and where you're maintaining that capex to invest in growth in those kinds of things. Just so we know what's getting cut, and what's still getting funded. | Right. So, you'll see roughly a 20% to 25% reduction in capex for the full year. We have preserved all of the growth capital expenditures that we were expecting to spend coming in, coming into the year. So -- that's opex as well. So, the resources that we were expecting to invest in coming into the year largely in emer... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
434eec81175ed0a4a01e9401dbd73a6a | What I really wanted to hear there was that you were cutting the growth investment so that's good. On pricing. Obviously, a lot of pricing going through this year. It's usually a pretty difficult environment when revenues are down. There's much to be able to push price. Can you talk about a little bit more about the ar... | So, we're -- we've got a pretty detailed playbook for how to raise prices. We raise prices where we know we have the value that we're delivering to the customer to justify it. And in many cases, we're in situations where we're the sole source. So if you talk about Aerospace & Defense for first we're sole-sourced. And o... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
373e6dc3542e69f3b9a2ee5713613f4a | David, I guess, first just on the guidance, I was just hoping maybe for a little bit more of a finer point on the margin outlook, recognizing that this quarter came in incredibly strong above expectations, up about 300 basis points year-over-year. I know your guidance is for up at least 100 basis points, but on a seque... | Look, you have some timing as it relates to lumber prices and lumber price increases in the -- earlier in the year that are going to affect the exact level of margins in the fourth quarter compared to the third quarter. I think what we talked about and what Allan talked about is the homes and backlog that we have at hi... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
44be41e4305490bf4b50498d4419f5f7 | Allan, I thought your comments early on about the pricing environment were interesting and kind of just the dynamic with the mortgage lending environment, probably eventually putting some cap on the price increases we've seen. First, I'm curious if you've seen any signs of that happening yet. We're hearing from most ot... | Alan, if there were ever a compound question, that was it. Let me pull it apart and deal with the first thing first and then the second thing. So, relative to the mortgage market, as you know, we do not have a mortgage subsidiary. We like our position very much. We've got multiple lenders making proposals to every cust... | direct | [
"direct",
"intermediate",
"fully_evasive"
] | A |
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