Earnings Labs

TSS, Inc. (TSSI)

Q3 2022 Earnings Call· Mon, Nov 14, 2022

$15.15

+0.40%

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Transcript

Operator

Operator

Good afternoon. My name is Colby and I will be your conference operator today. At this time, I would like to welcome everyone to the TSS Third Quarter 2022 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. I will now turn the call over to John Penver, Chief Financial Officer. You may begin.

John Penver

Analyst

Thank you, Colby and good afternoon, everyone. Thank you for joining us on TSS' conference call to discuss our third quarter 2022 financial results. I'm John Penver, the Chief Financial Officer of TSS. And joining me today on this call is Darryll Dewan, who a few minutes ago we announced as the new President and Chief Executive Officer of TSS. As we begin the call, I would like to remind everyone to take note of the cautionary language regarding forward-looking statements contained in the press release that we issued today. That same language will apply to comments and statements made on today's conference call. This call will contain time-sensitive information as well as forward-looking statements, which are only accurate as of today, November 14, 2022. TSS expressly disclaims any obligations to update, amend, supplement or otherwise review any information or forward-looking statements made on this conference call or replay to reflect events or circumstances that may arise after the date indicated except as otherwise required by applicable law. For a list of the risks and uncertainties, which may affect future performance, please refer to the company's periodic filings with the Securities and Exchange Commission. In addition, we will be referring to non-GAAP financial measures. A reconciliation of the differences between those measures and most directly comparable financial measures are calculated in accordance with GAAP is included in today's press release. So I'll begin the call with a review of our third quarter 2022 results and then turn the call over to Darryll for his comments. Earlier today, we issued a press release announcing our financial results for the third quarter of 2022. And a copy of that release will be made available on the company website at www.tssiusa.com. Overall, we once again had very strong operating results during the third…

Darryll Dewan

Analyst

John, thank you very much. Hello, everybody. Congratulations on Q3. As John said, just a short while ago, we announced the transition of the CEO role from Anthony Angelini to me, let me first thank Anthony for his support throughout this process and his commitment for ongoing support as we make this transition during a very busy period of client deliverables. We're a relatively small company with a concentrated customer base. So transitions like this will need to be handled especially carefully to keep customers and keep employees informed. Anthony has already proven himself to be a trusted partner throughout this process. I'm very fortunate to join TSS at a time when our performance is strong. The company has strengthens its balance sheet and profitability for this year is stronger than any other previous year. The transition is being made at a time of strength for us not international problems in our performance. So let me first tell you a little bit about myself and why the opportunity to lead TSS was so exciting and enticing to me. I joined TSS from Dell, where for the last 10 years I've lead Dell software security business where we focused on selling cybersecurity software and services solutions. I arrived at Dell by an acquisition of our software company called Credant Technologies, where I lead sales and operations for five years prior creating -- I was Group President for two other software companies VA Software Solutions and i2 Technologies. I spent my early years at IBM having been through the rigorous and well known sales training programs. While my experience at Dell was in their software group for those of you who know how Dell or other large OEMs operate. For that matter, the software is a component of the overall package. The…

John Penver

Analyst

Thanks, Darrell. Actually, Colby, we will open up the call to see if there's any questions at this time.

Operator

Operator

[Operator Instructions]. We have no questions at this time. I will now turn the call back over to John Penver, Chief Financial Officer for closing remarks. : :

John Penver

Analyst

Okay, thank you, Colby. Thank you, everybody for your time today on the conference call. Hope you'll join me in welcoming Dell to the company. And we'll look forward to providing some updates on our fourth quarter results in the new year. Thank you. And this concludes today's conference call.

Operator

Operator

This concludes today's conference call. You may now disconnect.