Q1 2006 IMPCO Technologies Earnings Conference Call - Final.

Original Source: FD (FAIR DISCLOSURE) WIRE

OPERATOR: At this time, I would like to welcome everyone to the IMPCO Technologies 2006 first quarter results conference call. (OPERATOR INSTRUCTIONS) I will now turn the call over to Mariano Costamagna, President and Chief Executive Officer. Please go ahead, sir.

MARIANO COSTAMAGNA, PRESIDENT & CHIEF EXECUTIVE OFFICER, IMPCO TECHNOLOGIES, INC.: Thank you. Good afternoon and welcome to IMPCO's first quarter 2006 business performance review conference call with our investors. My name is Mariano Costamagna, and I am President and CEO of IMPCO Technologies. With me today are Brad Garner, Chief Operating Officer; Tom Costales, Chief Financial Officer; Gary Maier from Maier & Company, our Investor Relations firm.

Our review today will begin with Gary Maier, who will present our required Safe Harbor statement. Please Gary.

GARY MAIER, IR, MAIER & COMPANY: Thank you, Mariano and thanks everyone for joining us for the call this morning. Before we begin, let me remind everyone of the Safe Harbor statement included in today's press release. The Private Securities Litigation Reform Act of 1995 provides a Safe Harbor for certain forward-looking statements including statements made during the course of today's call. Such forward-looking statements are based on the Company's current expectations and belief concerning future developments and their potential effects on the Company. Keep in mind there can be no assurance that future developments affecting IMPCO will be those anticipated by the Company. Actual results may differ from those projected in the forward-looking statements.

These forward-looking statements involve significant risks and uncertainties, some of which are beyond the control of the company and are subject to change based upon various factors. For a more detailed discussion of some of the ongoing risks and uncertainties of the company's business, I would refer you to the Company's various filings with the SEC.

With that said, I would now like to begin the call and turn it back over to Mariano.

MARIANO COSTAMAGNA: Thank you, Gary. I would like now to ask Tom to provide an overview of our first quarter 2006 fiscal year financial results. Tom?

TOM COSTALES, CHIEF FINANCIAL OFFICER, IMPCO TECHNOLOGIES, INC.: Thank you, Mariano and good morning everybody. I would like to highlight our financial results for the first quarter. And as you are aware, IMPCO completed the acquisition of BRC on March 31, 2005. Therefore, we consolidated BRC's results of operations beginning in the second quarter. First quarter 2005 comparative figures are solely IMPCO's US and international operations. BRC is not included in the first quarter 2005 comparatives.

Our first quarter revenues were 56.1 million compared with 25 million a year earlier. The increase of 31.1 million or 124% is largely attributable to consolidating BRC's revenues of $30.5 million. IMPCO's first quarter US and international revenues were 25.6 million, which were 0.6 million higher than the same quarter last year.

Operating income for the quarter was 6.8 million, compared with an operating loss of 2.2 million …