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Williams Controls Inc. Q2 2010 Earnings Call Transcript

Williams Controls Inc. (WMCO)

Q2 2010 Earnings Call

May 6, 2010 4:15 PM ET

Executives

Dennis Bunday – Chief Financial Officer

Pat Cavanagh – Chief Executive Officer

Analysts

John Nobile – Taglich Brothers

Presentation

Dennis Bunday

Good afternoon, everyone. And welcome to Williams Controls Second Quarter Fiscal 2010 Conference Call. Before we begin, you should note that the following discussions and responses to questions reflect management's views as of today, May 6, 2010, and may include forward-looking statements.

Actual results may differ materially from those projected in the forward-looking statements. Information concerning risk factors and other factors that could cause actual results to differ materially is included in our filings with the SEC, including our 2009 annual report on Form 10-K, our fiscal 2010 quarterly reports on Form 10-Q, and our fiscal 2010 current reports on Form 8-K.

Specific factors that may cause such a difference include but are not limited to, availability of adequate working capital, domestic and international competitive pressures, increased governmental regulation, increased costs of materials and labor, and general economic conditions in the United States and abroad.

I will now turn the call over to our CEO, Pat Cavanagh, for his comments on the quarter.

Pat Cavanagh

Thank you, Dennis. How are you? It’s been an interesting day in the markets today. I’d like to welcome everyone to our second quarter conference call. This morning we released our financial results for the second quarter of fiscal 2010.

We’ve seen a continued improvement in our sales starting in the quarter ending September 2009. Our second quarter sales were $12.6 million up 38% from the same quarter of fiscal 2009, and 8% from the first fiscal quarter this [Audio Gap]. Year to date sales compared to last years first six months are up 23%.

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