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Patriot Transportation Holding, Inc. (PATI) CEO Rob Sandlin on Q4 2021 Results - Earnings Call Transcript

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Patriot Transportation Holding, Inc. (NASDAQ:PATI) Q4 2021 Earnings Conference Call December 2, 2021 3:00 PM ET

Company Participants

Rob Sandlin - CEO and President

Matt McNulty - CFO

John Klopfenstein - CAO

Conference Call Participants

Steve Rudd - Blackwell


Good afternoon, ladies and gentlemen, and welcome to the Patriot Transportation Holdings Inc. Earnings Call for the Fourth Quarter of Fiscal Year 2021. At this time, all participants are placed on a listen-only mode, and we will open the floor for your questions and comments after the presentation.

It is now my pleasure to turn the floor over to your host, Rob Sandlin, CEO and President of Patriot Transportation Holdings Inc. Sir, the floor is yours.

Rob Sandlin

Good afternoon and thank you all for being on the call today and for your interest in Patriot Transportation. I am Rob Sandlin, CEO of Patriot Transportation and with me today are Matt McNulty, our Chief Financial Officer; and John Klopfenstein, our Chief Accounting Officer.

Before we get into our results, let me caution you that any statements made during this call that relate to the future are by their nature subject to risks and uncertainties that could cause actual results and events to differ materially from those indicated by such forward-looking statements. Additional information regarding these and other risk factors and uncertainties may be found in the company's filing with the Securities and Exchange Commission.

Now for our fourth quarter results. Today the company reported fourth quarter net income of $40,000 or $0.01 per share for the quarter ended September 30, 2021 compared to $549,000 or $0.16 per share in the same quarter last year. Total revenues for the quarter were $20,457,000 down $909,000 from the same quarter last year.

This year's quarter was negatively impacted by the reduction of one

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