Acme United Corporation (ACU) CEO Walter Johnsen on Q1 2019 Results - Earnings Call Transcript

Apr. 18, 2019 2:56 PM ETAcme United Corporation (ACU)
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Acme United Corporation (NYSE:ACU) Q1 2019 Earnings Conference Call April 18, 2019 12:00 PM ET

Company Participants

Walter Johnsen - Chairman & Chief Executive Officer

Paul Driscoll - Chief Financial Officer

Conference Call Participants

Michael Kawamoto - D.A. Davidson

Ryan Ruggaard - Bard Associates

Mike Mork - Mork Capital Management

Jim Marrone - Singular Research

Jeffrey Matthews - RAM Partners

Operator

Good day, and welcome to the Acme United Corporation's First Quarter 2019 Earnings Conference Call.

At this time, I would like to turn the conference over to Mr. Walter Johnsen, Chairman and Chief Executive Officer. Sir, please go ahead.

Walter Johnsen

Good morning. Welcome to the first quarter 2019 earnings conference call for Acme United Corporation. I'm Walter C. Johnsen, Chairman and CEO. With me is Paul Driscoll, our Chief Financial Officer, who will first read a Safe Harbor statement. Paul?

Paul Driscoll

Forward-looking statements in this conference call including without limitation statements related to the company's plans, strategy, objectives, expectations, intentions and adequacy of resources are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, the following: one, the company's plans, strategies, objectives, expectations and intentions are subject to change any time at the discretion of the company; two, the company's plans and results of operation will be affected by the company's ability to manage its growth; and three, other risks and uncertainties indicated from time-to-time in the company's filings with the Securities and Exchange Commission.

Walter Johnsen

Thank you, Paul. Acme United had a good first quarter of 2019. Sales of $31.4 million were 1% below last year's very high level as expected, due to the shipment in Q1 2018, the large initial order of first aid kits to a major foodservice distributor. We

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