Earnings Labs

Rocky Mountain Chocolate Factory, Inc. (RMCF)

Q1 2023 Earnings Call· Thu, Jul 14, 2022

$2.43

+3.60%

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Same-Day

-0.36%

1 Week

-0.43%

1 Month

-2.31%

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Transcript

Operator

Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the conference call to discuss the financial results of Rocky Mountain Chocolate Factory, Inc. First Quarter of Fiscal 2023 ended May 31, 2022. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to turn the call over to Rob [indiscernible] the company's Investor Relations representative for opening remarks. Please go ahead, Rob.

Unknown Executive

Analyst

Thank you, operator. Before introducing Chief Executive Officer, Rob Sarlls, please be advised this conference call will contain statements that are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain known and unknown risks and uncertainties as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. These forward-looking statements are also subject to other risks and uncertainties that are described from time to time in the company's filings with the SEC. Do not place undue reliance on any forward-looking statements, which are being made only as of the date of this call, except as required by law, the company undertakes no obligation to revise or publicly release the results of any revision to any forward-looking statements. Our presentation also includes certain non-GAAP financial measures, including adjusted EBITDA as supplemental measures of performance of our business. All non-GAAP measures have been reconciled to the most directly comparable GAAP measures in accordance with SEC rules. You will find reconciliation charts and other important information in the earnings press release and Form 8-K we furnished to the SEC yesterday, which are available on the company's website, www.rmcf.com/investor- relations.aspx, under Press Releases, RMCF earnings call, July 14, 2022, approximately 24 hours after the call has ended. And now I will turn the call over to Rob Sarlls, Chief Executive Officer.

Robert Sarlls

Analyst

Good morning, everyone. Thank you for joining the Rocky Mountain Chocolate Factory First Quarter Conference Call for fiscal 2023. As many of you are no doubt aware, the company has received notice of a potential proxy contest with respect to the election of directors at our 2022 Annual Meeting. Please understand that I am not able to address any specific issues relating to the annual meeting today. For information regarding the annual meeting, please refer to our definitive proxy statement on Schedule 14A filed with the SEC on July 5, 2022, as supplemented on July 7, 2022, and other relevant documents filed by us with the SEC. Apart from that, there is much to report, perhaps most obvious is that barely 2 months into the job, I'm speaking with you today. This is the first of what will be regular quarterly calls to mark new calendars and in all future calls, we look forward to conducting meaningful and vibrant dialogue with investors. In fact, enhancing communication is a key strategic element that will help shape the future direction and culture of our entire company. Communication not only with investors, but with all our meaningful constituencies, including employees, current and prospective franchisees and business partners and the communities where the Rocky Mountain Chocolate Factory name not only represents quality, chocolate and confectionery products and a superior retail and consumer experience. You'll hear much more about this in the weeks and months ahead. Let me share 2 examples that reflect our new approach. First, as many of you may be aware, the first step I took upon joining the company was to take a road trip to meet directly several franchisees in the Midwest and Southwest in their stores, in their communities. To say that they were surprised is an understatement. If…

Operator

Operator

Thank you. Thank you, ladies and gentlemen. This does conclude today's conference call. You may disconnect your phone lines at this time, and have a wonderful day. Thank you for your participation.