Thank you, Jennifer.
morning. Good
O'Brien, Solutions. Dan of CEO is Flexible This
not Safe is of for XXXX The to Private events, which forward-looking with of forward-looking Reform Act Securities Litigation are herein, provides contained involve Certain the the harbor facts, respect of are to statements uncertainties. forward-looking provision. statements that or statements. in factors. various by statements potential historical which reports a risks These the may occurrence factors positively safe harbor filed time and Securities Commission. Information affect could detailed the company's company and the negatively time be impacted, from concerning with either Exchange
conference Welcome FSI call to second quarter the XXXX. for
think First, talk and and our QX product will might QX, I'd XXXX. condition Afterward, we on company occur about to our financials. I in lines, like our comment what along with
XX% NCS represents fertilizer short, TPA revenue. The which uses. valuable loss biodegradable approximately division division. to a and XX from are called it's of NanoChem acid, used thermal nitrogen for Savr reduce N makes also SUN FSI's XX, manufactures many polyaspartic with soil. NCS This polymer
plants in years. XXXX, fertilizer to is growth food-grade NCS using several operations spray use. used the longer we've ions and by to fertilizer the In between the installed yield. last resulting the remaining in in total dryer agriculture It crop soil, significantly over crystal increase the acts started TPA slowing for ions other available
formation, clogging. of oil scale TPA's fraction the pipes the for is recovery oil scale is the plugging TPA prevention way biodegradable scale. part the keeps pipes it treating exits of that to also a effect water are from rock as minerals from water preventing of with mineral oilfield prevent of
is products. Savr a biodegradable while XX ingredients loss conservation TPA is for from XX runoff. is is bacterial that evaporation certain at caused can nitrogen, nitrogen SUNXX cleaning effective in bacterial food by soil is breakdown, a that soil treatment lost used be sold enzymes are fertilizer N attack nitrogen chemical. and XX to leaching. nitrogen the and Savr through Nitrogen critical uses as SUN and from N water reducing concern products of evaporation also a
Products. Food
plant grade We've commercialized based that We've was on is FDA fully Our received our food-grade one Illinois inspected. product number. developed in-house. food polyaspartates
ideas, We being of the is have or in a where pipeline of products mixture that full team. our outside our either development by are a production outside additional an ideas idea optimized
that with food skilled can with and other NCS determined large products is an will we've that focus equally area we markets our good margins. on where this verticals are obtain we because market servicing in
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don't we have clarity little any growth and revenue XXXX expect XXXX, regarding We in yet.
of first focused is was of The occurred. multiple face customers. while countries, on LLC remainder international costs Florida remains growth goods, of into revenue half in to profitable high the predicted. was to strong all ways. exposed varied investment. QX difficulty issues QX, passing The Also, the some be it's year Revenue has for different LLC can't its LLC and where area company all in but respond the experiencing and and Our sales one XXXX the cost which
some time. reach levels compressed for earnings and not historical are As a result, the margins may
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to XX, shareholder XX, XXXX, merge, XXXX, Lygos not September the with not approval. merger was merger completed which not their by and The On April did of end intent subject the agreement, did and date to announced so proceed. Our close. FSI was Lygos
user invested Our return strategic a to FSI both and acid be of $XXX,XXX allow investment sustainable products and that investment We and valuable Lygos sustainable second to new route a feedstock. will June in microbial will sugar the derived customers biodegrade in way come Lygos acid XXXX. the major continues from in this acid XXXX, develop a $XXX,XXX aspartic use large in we equity. as that using towards new aspartic sources. us believes invested and obtain for developing aspartic Lygos
do while remain finding goal that that not work in to with a involve and suppliers optimistic Lygos. can is Lygos for that us, to to profitable is FSI this for for route profitable continue merging. ways dedicated the our We we sustainability, of goal
QX XXXX and they products of in were QX XXXX. not as XXXX, as strong agricultural QX in were QX
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export flow tariff. tariffs. because imported have many Tariffs. from cash our for years several recover we profits rebates Rebates Since charged tariffs arrive. our have not to to can of available XXXX, and our cost These the the our customers take applied are are goods, negatively. included XX% of to International China materials costs raw a affecting
us in persevere funds. our to initial submitted four $X going succeed back of well dollar more We're total million. we in We The recovering until applications our years than excess to ago. due amount is
were our costs to to continuing with far resulting We we unable additional is historic U.S. Ocean on shipping international shipments XXXX, to ports the and by from that ordering U.S. to Shipping back to carrying pre-COVID Land the and ahead close very settled U.S. levels. to Transport coped in and issues the speeds from inventory. ocean shipping inside the stabilize. and pass Asia are prices to inventory in customers. have
In less somewhat XXXX, expensive raw to normal the level reducing to inventory replace continuing a we materials and ones. have with been more expensive are
may margins this As levels, time. higher to going but it's take more stabilize slightly proceeds, at
material do seem Instead, to Raw appear they not historic be be levels. to prices to reverting
stabilizing price inflation. at increases, even also a experiencing is base Passing new level that
along small take customers to and not year. throughout inflation-related several the this of months, in ones margins can result constrained always probably possible rest will
lower rest XXXX profits and and believe during We that the that for flow lower of full lower issues the cash faced second sum the result year. we of the will revenue, in the half
down. mix, and cost with affected negatively and reduced were product of revenue to financial QX results disappointed Year-over-year operating by sales. XXXX. the goods for Moving results. the flow We're were cash Profits
quarter compared estimate X% were flow $XX.XX growth XXXX. share to to will not in $X.XX for million compared QX or and a now previous be $XX.XX share in year-over-year We QX $XXX,XXX that a in million for the year Profits $X.XX revenue and the possible to Sales million cash quarter. XXXX. $X.XX decreased profits in
This is useful flow. clarity. progress number. removed our cash show non-GAAP items for with It's to noncash a Operating
$X.XX For XXXX share first XXXX half the per or or from $X.XX in period. was share million $X.XX a $X.XX million down
continuing the loan. debt We're pay of according the terms Long-term our debt. to down to
lines with all all the already We in interest we ENP not and guaranteed and lower for Stock the At interest has we brought same rates of rates own long-term Investments on its debt. have time, ENP credit This NCS mortgage. consolidated units increased reduced Yards and with our LLC did the in debt resulted Bank. Peru
of returns This and The of action to favorable LLC buildings XX,XXX in our owns building and the properties. the feet corner terms. acres the Southwest Illinois, and other the foot parcel of mortgages Peru, full X square XX-acre that's square FSI on XXX,XXX at ownership
space return in -- a XXX LLC to invested large that we That on acres Illinois. in land factory XX% Illinois. quarter, of in in second turn Additional an Mendota. building XX In the Mendota, of called acquire purchased
from available The division will square for have its that XX,XXX are will as use ENP, its square The XXX,XXX square rented found. will growth move feet the XXX,XXX remaining the recover for of our feet square build. for Illinois room making or use We The tenants and of possible to feet beyond. XXXX rental. NCS suitable in XX,XXX ENP determined operations division all feet in be Peru, then is
for adequate all purposes. is capital Working our
with have for confident Stock NCS. execute with Yards plans that our our of credit Bank We're both we existing our ENP and can lines We capital.
The text www.sec.gov on as filing XX. an will fax copies available X-K of Jason Wednesday, or this requested be Bloom at by from August E-mail speech be can jason@flexiblesolutions.com.
you. Jennifer, floor open for for this you Thank please? us, set is questions. up will The
