GSE Systems, Inc. (NASDAQ:GVP) Q1 2023 Earnings Conference Call May 15, 2023 4:30 PM ET

Company Participants

Adam Lowensteiner – Lytham Partners

Kyle Loudermilk – President and Chief Executive Officer

Emmett Pepe – Chief Financial Officer

Conference Call Participants

Graham Mattison – Water Tower Research

Sameer Joshi – H.C. Wainwright

Operator

Good afternoon. Welcome to GSE Systems, Inc. Reports First Quarter Fiscal Year 2023 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Adam Lowensteiner with Lytham Partners. Please go ahead.

Adam Lowensteiner

Thank you, Debbie, and good afternoon, everyone, and thank you all for joining us today to review the financial results for GSE Systems for the first quarter fiscal 2023 ended March 31, 2023. With us on the call representing the company today are Kyle Loudermilk, President and CEO of GSE Systems and Emmett Pepe, Chief Financial Officer of GSE Systems.

Before we begin, I would like to remind everyone that statements made during the course of this call may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended in Section 21E of the Securities Act of 1934. These statements reflect current expectations concerning future events and results. Words such as expect, intend, believe, may, will, should, could, anticipate and similar expressions are words that are used to identify forward-looking statements, but their absence does not mean a statement is not forward-looking.

These statements are not guarantees of future performance and are subject to risks and uncertainties and other important factors that could cause actual performance or achievements to be materially different from those projected.

For a full discussion of these risks, uncertainties and factors, you are encouraged to read GSE’s documents on file with the Securities and Exchange Commission, including those set forth in periodic reports filed under the Forward-looking Statements and Risk Factors section. GSE does not intend to update or revise or any forward-looking statements, whether as a result of new information, future events or otherwise.

On this call, management may refer to EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS, which are not measures of financial performance under generally accepted accounting principles or GAAP.

Management believes that these non-GAAP figures, in addition to other GAAP measures provide meaningful supplemental information regarding the company’s operational performance. Investors should recognize that these non-GAAP figures might not be comparable to similarly titled measures of other companies.