M-tron Industries, Inc.

for Q1 2025. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. I would now like to turn the call over to Linda Biles, Emtron's EVP of Finance. Please go ahead.

Good morning everyone. Thank you for joining our 2025 Emtron Q1 earnings call. Please note that this call will be recorded and we will make the recording available on our website www.emtron.com shortly after the call. Yesterday afternoon we released our earnings for the first fiscal quarter of 2025. Before getting underway we are required to advise you that the following discussion should be taken in conjunction with our most recent financial statements and notes as contained within our 2024 10 , which was filed on March 27, 2025, with the SEC. This discussion may contain forward-looking statements with the meaning of 27 of the Securities Act of 1933 and Section 21 of the Securities and Exchange Act of 1934. These forward looking statements contain known and unknown risks and uncertainties which are detailed in our SEC filings. Although the company believes that the forward looking statements are based upon reasonable assumptions regarding its business and future market conditions, there are no assurances that the company's actual results will not differ materially from any result expressed or implied by the company's forward looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as the result of new information, future events, or otherwise. Readers are cautioned that any forward-looking statements are not guarantees of future performance. With that, I will now turn the call over to our interim CEO, Cameron Fore.

Yes, good morning, everyone, and thank you, Linda. First of all, I want to thank all of our shareholders and interested parties for attending our first quarter FY25 earnings call and your interest in the company. We're pleased to discuss our strong start to the fiscal 2025 fiscal year and our outlook going forward. As a reminder, Emtron designs and manufactures highly engineered RF solutions, including electronic components and subassemblies used to control the frequency and timing of signals and electronic circuits. We're a global company with three manufacturing sites in the United States and India. The company's primary markets include defense and aerospace. commercial avionics, industrials, and space. We are pleased to report that the company continued to perform well with continued strength in Intron sales and good financial performance for Q1 fiscal year 2025. Our revenues continue to be driven by defense-related orders, and we also saw some growth in the commercial avionics market, something we believe bodes well for the future recovery of that market. We are pleased to see Boeing resolve its labor dispute early in the year and expect orders from the major airframe manufacturers to pick up throughout the year. With consistent operating performance, we have been able to continue to make strategic investments in research and development and continue to increase the market profile of the company. Part of that effort was the recent rebranding of the company as Emtron, updates to our logo, our websites, sales materials, as well as the initiation of advertising some of the leading publications for our sector and also enhanced lead generation activity. We also continue to make investments in our production facilities, and we've seen good initial results in a program that I mentioned, I think, on the last call to deploy greater automation on the factory floor to improve yields. It looks like we have gotten through some of the choppiness in the defense market caused by some of the conflicting messaging from the administration on the defense budget. We at Emtron have seen no disruption to our business and expect to continue the company's revenue growth throughout the year. A continuing resolution passed and signed in mid-March 2025 extended government funding through the end of the federal fiscal year. and largely preserved the defense spending as it was, actually increasing the defense budget by, I guess, a relatively small amount, $6 billion. The administration is now proposing increasing the defense budget for this fiscal year by $150 billion through a reconciliation process and also substantially increasing procurement spending in the federal FY2026 budget. Many of the areas targeted for investment such as next-gen aircraft, shipbuilding, loitering and precision-guided munitions, border security, and the Golden Dome anti-aircraft, anti-missile defense, all require a significant amount of RF subsystems and components, highlighting the continued growing need for Amtron's products. The importance of filters and oscillators has only increased as the electromagnetic spectrum has become a more contested part of the battle space. And communications between systems and commanders and combatants remain subject to electronic countermeasures, such as jamming and interference. We believe that we are well positioned to continue to perform well with the anticipated changes in military procurement focus. Now, would you mind giving our audience the highlights of our fiscal year Q1 performance.