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Northwest Pipe's (NWPX) CEO Scott Montross on Q1 2018 Results - Earnings Call Transcript

May 06, 2018 9:13 AM ETNorthwest Pipe Company (NWPX)
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Northwest Pipe Company (NASDAQ:NWPX) Q1 2018 Earnings Conference Call May 3, 2018 10:00 AM ET


Scott Montross – President and Chief Executive Officer

Robin Gantt – Chief Financial Officer


Brent Thielman – D.A. Davidson & Co


Welcome, and thank you for standing by. [Operator Instructions] This call is being recorded. If you have any objections, you may disconnect at this time.

May I introduce your speaker for today, Scott Montross. Please go ahead.

Scott Montross

Thank you, Ed. Good morning, and welcome to Northwest Pipe’s conference call. My name is Scott Montross, and I’m President and CEO of the company. And I’m joined by Robin Gantt, our Chief Financial Officer. As we begin, I would like to remind everyone that statements we make in this call about our expectations for the future are forward-looking statements and actual results could differ materially. Please refer to our most recent SEC filing on form 10-K for a discussion of risk factors that could cause actual results to differ materially from expectations. I will now turn to Robin, who will discuss our first quarter results.

Robin Gantt

Thank you, Scott. Our first quarter loss from continuing operations was $2 million or $0.20 per diluted share compared to a loss from continuing operations of $3.5 million or $0.37 per diluted share in the first quarter of 2017. Sales increased slightly to $33.4 million in the first quarter of 2018 from $29.7 million in the first quarter of 2017.

Water Transmission gross profit as a percent of sales was 4% in the first quarter of 2018 compared to 4.2% in the first quarter of 2017. The mix of jobs produced in the first quarter of 2018 led to the minor difference in gross margin.

Selling, general and administrative costs decreased to $3.4 million in the

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