Q1 2020 Velan Inc Earnings Call Transcript
Greetings, and welcome to the Velan Inc. Q1 Financial Results Conference Call. (Operator Instructions) As a reminder, this conference is being recorded Friday, July 12, 2019.
I would now like to turn the conference over to Yves Leduc, President and CEO. Please go ahead.
Missy, thank you very much. Good morning, everybody. Welcome to our first quarter fiscal year 2020 conference call. I'm joined today by John Ball, our CFO. I will start with a brief summary of our results followed by a more detailed discussion of our outlook, we'll then open the line to our questions.
First off, I will state that we're not satisfied with the results for the first quarter of our fiscal year. We've experienced delays in shipping higher margin products in our North American and French operations, from which we expect to recover in the course of the year. The performance of our North American operations should also gradually improve as we replace last year's backlog with new orders reflecting greater
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