Edited Transcript of SUMR earnings conference call or presentation 13-Nov-19 2:00pm GMT [Yahoo! Finance News]
Summer Infant, Inc. (SUMR)
Last summer infant, inc. earnings: 5/7 04:15 pm
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US:NASDAQ Investor Relations:
investor.summerinfant.com/home/default.aspx
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Source: Yahoo! Finance News
Edited Transcript of SUMR earnings conference call or presentation 13-Nov-19 2:00pm GMT We wanted to provide this upfront commentary on the tariffs because of their large negative impact to our quarterly results, results that we're not proud of. Even in such a tough environment, however, we generated $6.3 million in cash from operations with notable reductions in inventory, receivables and payables from second quarter levels. Using this cash, we paid down $6 million on our credit facilities, reducing debt to its lowest level since the beginning of 2019. We ended the period with borrowing availability of nearly $7 million, and we're pleased once again to have the full support of our bank group in providing flexibility as we navigate through these near-term headwinds. At the same time, we reported inventory turns of 3.8 and days sales outstanding of 64, both consistent with our announced goals this year. Such operational achievements underscore our commitment to improving the company's
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