Ag Growth International Inc (FRA:7AG)
€ 35 0 (0%) Market Cap: 667.25 Mil Enterprise Value: 1.24 Bil PE Ratio: 19.23 PB Ratio: 3.03 GF Score: 82/100
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Q3 2019 Ag Growth International Inc Earnings Call Transcript

Nov 14, 2019 / 01:00PM GMT
Release Date Price: €31.8 (+3.25%)
Operator

Good morning. My name is Jessica, and I will be your conference operator today. At this time, I would like to welcome everyone to AGI's third quarter results release and conference Call. (Operator Instructions)

Mr. Tim Close, you may begin your conference.

Tim Close
Ag Growth International Inc. - President, CEO & Director

Good morning, and thank you for joining Steve Sommerfeld and I to discuss our Q3 results, our business update and outlook. I'd like to start by addressing the charge we took in the quarter. This onetime charge related to product design issues that were discovered during the execution of projects. And we determined that we needed to amend the design and add additional time and materials to ensure the projects were completed to the expectation of our customers.

A charge of this type is exceptionally rare at AGI. While commercial projects can be subject to changes, additions and redesign, we complete hundreds of projects annually without incurring a similar circumstance in our entire history. We identified the root cause,

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