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Netlist, Inc. (NLST) CEO Chuck Hong on Q4 2020 Results - Earnings Call Transcript

Mar. 01, 2021 11:12 PM ETNetlist, Inc. (NLST)
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Netlist, Inc. (OTCQB:NLST) Q4 2020 Earnings Conference Call March 1, 2021 5:00 PM ET

Company Participants

Michael Smargiassi - IR Officer

Chuck Hong - Co-Founder, President, CEO & Executive Chairman

Gail Sasaki - VP, CFO & Corporate Secretary

Conference Call Participants

Suji Desilva - ROTH Capital Partners

Richard Shannon - Craig-Hallum


Good day, and welcome to the Netlist, Inc. Fourth Quarter 2020 Earnings Conference Call and Webcast. [Operator Instructions]. Please note, this event is being recorded. I would now like to turn the conference over to Michael Smargiassi. Please go ahead.

Michael Smargiassi

Thank you, Grant, and good day, everyone. Welcome to the Netlist Fourth Quarter and Full Year 2020 Conference Call. Leading today's call will be Chuck Hong, Chief Executive Officer of Netlist; and Gail Sasaki, Chief Financial Officer. As a reminder, the earnings release and a replay of today's call can be accessed on the Investors section of the Netlist website at netlist.com.

Before we start the call, I would note that today's presentation of Netlist results and the answers to questions may include forward-looking statements, which are based on current expectations. The actual results could differ materially from those projected in the forward-looking statements because of the a number of risks and uncertainties that are expressed in the call, annual and current SEC filings and the cautionary statements contained in the press release today. Netlist assumes no obligation to update forward-looking statements.

I would now like to turn the call over to Chuck.

Chuck Hong

Thanks, Mike, and hello, everyone. We delivered solid financial performance for the year 2020 by increasing product revenue by 81%, tripling gross profit dollars and a 3.5% decrease and operating expenses, which resulted in a 42% improvement in bottom line results compared to the prior year.

We also made progress in

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