Allient Inc. (NASDAQ:ALNT) Q1 2024 Results Conference Call May 9, 2024 10:00 AM ET

Company Participants

Craig Mychajluk - Investor Relations
Richard Warzala - Chairman, President and CEO
Jackson Trostle - Corporate Controller

Conference Call Participants

Greg Palm - Craig-Hallum Capital Group
Gerry Sweeney - ROTH Capital
Ted Jackson - Northland Securities
Brett Kearney - American Rebirth Opportunity Partners

Operator

Greetings and welcome to Allient First Quarter Fiscal Year 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to your host, Craig Mychajluk, Investor Relations. Thank you. You may begin.

Craig Mychajluk

Thank you. And good morning everyone. Appreciate your time today as well as your interest in Allient, Inc. [Audio Gap] Warzala, President and CEO; and Jackson Trostle, our Corporate Controller [Audio Gap] going to review our first quarter 2024 results and provide an update on the company's strategic progress and outlook, after which we'll open up for Q&A. [Audio Gap] financial results that were released yesterday after the market closed. If not, you can find it at our website at allient.com, along with the slides that accompany today's discussion.

[Audio Gap] slides, please turn to slide 2 for the safe harbor statement. There we may make forward looking statements on this call during the formal discussion, as well as during the Q&A [Audio Gap] future events that are subject to uncertainties, as well as other factors that could cause actual results to differ materially from what is stated on today's call. [Audio Gap] uncertainties and other factors are discussed in the earnings release, [Audio Gap] documents filed by the company with the Securities and Exchange Commission. [Audio Gap] documents on our website or at sec.gov [Audio Gap] as well that during today's call we will discuss some non-GAAP measures which we believe will be useful in evaluating our performance.

[Audio Gap] the presentation of this additional information in isolation, [Audio Gap] substitute for results prepared in accordance with GAAP. We have provided reconciliations of non-GAAP [Audio Gap] measures in the tables accompanying the earnings release and slides.

[Audio Gap] and I'll turn it over to Dick to begin.

Richard Warzala

Thank you, Craig, and welcome everyone.

Before delving into the quarter discussion, I'd like to provide an update on our ongoing search for a new CFO. The process has been productive, yielding a pool of high caliber candidates, and we anticipate welcoming an external candidate on-board very soon. Given the timing, Mike graciously agreed to extend his tenure as CFO into the end of June, which will facilitate a smooth transition of his duties. Due to prior planned commitments, Mike couldn't join us on today's call, and Jackson Trostle will be filling in for him. I would like to take this moment to extend my heartfelt wishes to Mike as he embarks on his retirement. Throughout his tenure, Mike has been an outstanding partner and has played a key role in establishing the framework necessary for us to support the levels of growth we've achieved over the years. Under his leadership, he has also cultivated a strong supporting team, laying a solid foundation for our continued success in the future.