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Saturday, May 09, 2015 10:13:43 PM
The entire transcript does have some errors in it,
The answer to Jay Fisher's question is encouraging,
Operator
And we'll go next to Jay Fisher at Financial Logic.
Jay Fisher - Financial Logic
Good afternoon, gentlemen. Tom, you had mentioned…
Tom Steipp - President & CEO
Hi, Jay.
Jay Fisher - Financial Logic
Hi, how are you? You had mentioned that there were 36 RFQs in the first quarter and the for the second quarter I didn't catch, so if you could - the first month of the second quarter, I would appreciate you repeating that. And then if you could give us some insight into market segments for the RFQs, which types of industries?
Tom Steipp - President & CEO
Sure, I don't have a breakout of the industries for all 36 but to put this in perspective, we received a request for quotations, four in the first quarter of last year, four in second quarter of last year, four in the third quarter of last year, 36 in the first quarter of this year. They were spread most significantly between medical, I'd say the bulk of them were by far for medical, some automotive, and then beyond that there was a scattering of more - what I would term tactical opportunities as we've indicated in the past calls, Paul's guys are focused on three long term market segments; aerospace, automotive and medical. And those take multiple years to develop and recognizing that and the fact that we need to get shipments out the door this year and next year tactical opportunities, things like the knife order from Miltner Adams, sporting goods and fire arms probably round out the bulk of other ones that we've looked at.
And to put that in perspective, we've got 25 RFQs in April, so you can see first quarter, second quarter, third quarter - first quarter this year and just the first month in the second quarter, we are very encouraged by both, the number of customer visits that have taken place and just to remind everybody, these are for the most part by Paul and/or MSRs who are paying their own way, see the opportunity and are paying their own expenses until such point in time they get orders and restart shipments because we don't pay them until that happen. So I would say compared to where we were a year ago, we have a much better understanding of the integrated process, and as a result our optimism and that shared by our MSRs is far higher.
Jay Fisher - Financial Logic
Thank you.
A Foolish Investment Does Not An Expert Make.
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