Q2 2020 Velan Inc Earnings Call Transcript
Greetings, and welcome to the Velan's Second Quarter Financial Results Conference Call. (Operator Instructions) As a reminder, this conference is being recorded on Friday, October 11, 2019. I would now like to turn the conference over to Mr. Yves Leduc, President and CEO. Please go ahead.
Thank you, and welcome to our second quarter fiscal year 2020 conference call. I'm joined today by John Ball, as usual, our CFO. I will start with a brief summary of our results followed by a more detailed discussion of our transformation effort. We'll then open the line to your questions.
This was one of the most profitable quarters since fiscal year 2017. I will explain in further detail how this was achieved but would like first to acknowledge the excellent performance of our overseas operations. I'm particularly pleased with the progress that our Italian subsidiary has been making in the upstream oil and gas market after a few challenging years.
Let's talk about net earnings. We were able to
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