The Singing Machine Company, Inc. (MICS) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Slinging Machines' second quarter fiscal 2024 financial results earnings call. My name is Natalie, and I will be your operator today. As a reminder, today's call is being recorded. We have a brief safe harbor, and then we'll get started. This call contains forward-looking statements under U.S. federal securities law. These statements are subject to risk and uncertainties that could cause actual results to differ maternally from historical experience or present expectations. A description of some of the risk and uncertainties can be found in the reports that we file with the Securities and Exchange Commission, including the cautionary statement included in our current and periodic fillings. I would now like to turn the call over to Gary Atkinson, company CEO. Good morning, ladies and gentlemen. I would like to start off this morning by thanking everyone for taking the time to listen in and participate in our second quarter 2024 earnings call. Joining me on today's call, I have Lionel Marquis, Company CFO, and Bernard O'Mello, Chief Revenue Officer. As is customary with our business, the second quarter is typically one of the busiest times of our fiscal year. This is when we start to deliver our programs for the holidays to our retail partners. And we are very, very active in fulfilling these orders daily from July through October with final replenishments into November and drop shipments starting in December. Due to the timing of our longstanding warehouse lease and its expiration in Ontario, California back in August, we were challenged to execute a complete transition from a 100% in-house logistics model to a fully outsourced 3PL model right at the peak of our shipping season. For those that may not be aware, this process invol...