ADDvantage Technologies Group, Inc.

Please stand by, we're about to begin. Good day and welcome to the Advantage Technologies fiscal 2021 fourth quarter and year end financial results conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Brett Maas with Hayden IR. Please go ahead.

Thank you, operator. We're joined today by Joe Hart, president and CEO, as well as Michael Rutledge, company's chief financial officer. Before we begin today's call, I'd like to remind you this conference call may contain forward-looking statements which are subject to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events, such as the ability of Advantage Technologies and its subsidiaries to maintain strategic relationships and agreements with certain original equipment manufacturers and multiple system operators, as well as future financial performance of Advantage Technologies. These statements involve a number of risks and uncertainties. Participants are cautioned that these forward-looking statements are only predictions and may materially differ from actual future events or results due to a variety of factors, such as those contained in Advantage Technologies' most recent report on Form 10-K on file with the Securities Exchange Commission. Financial information presented on this conference call should be considered in conjunction with the consolidated financial statements and notes included in the company's press release issued earlier today and included in Advantage Technologies' most recent report on Form 10-K. The guidance regarding anticipated future results on this call is based on limited information currently available on Advantage Technologies, which is subject to change. Although any such guidance and factors influencing it may change, Advantage Technologies will not necessarily update the information, as the company will only provide guidance at certain points during the year. Such information speaks only as of the date of this call. During this call, we may also present certain non-GAAP financial measures, such as non-GAAP net income and certain ratios that are used with these measures. In our press release and in financial tables issued earlier today, which are located on the website at advantagetechnologies.com, you will find a reconciliation of these non-GAAP financial measures with the closest GAAP financials and discussion about why we believe these non-GAAP financial measures are relevant. These financial measures are included for both the benefit of investors and should be considered in addition to and not instead of GAAP measures. I'd now like to turn the call over to Joe Hart, President and Chief Executive Officer of Advantage Technologies. Joe, please go ahead.

Thank you, Brett, and thank you to everyone joining us on the call today. The fourth quarter finally showed the momentum we have been discussing for some time now. Wireless segment revenue jumped from 4.1 million in the third quarter to 7 million in the fourth quarter. And we are confident that over the next six to nine months, wireless revenue related to tower work and other aspects of the 5G rollout will double again. This growth has been broad-based. It involves several carriers, not just one customer, including both long-standing customers and one new entrant to the market, Dish Wireless. The work touches all the regions we service, and our pipeline of new projects, meaning work we have been awarded where we either have purchase orders in hand or are waiting for purchase orders as permitting is complete, gives us significant confidence that the long-awaited 5G surge will occur in 2022. The significant uptick in our fourth fiscal quarter validates this expectation. We already have purchase orders in hand for fiscal year 2022 construction services that exceed the total value of our fiscal year 2021 total wireless revenue. Simultaneously, Our telco segment continued to deliver strong results. The ongoing chip shortages and electronic supply chain issues made new equipment more expensive and harder to source. This makes the refurbished alternatives sold by Nave and Triton more attractive, especially for work from home folks looking for affordable options. We continue to anticipate a leveling off of demand at some point in future quarters albeit at a somewhat elevated level relative to the recent past. The result of all this was that our NAVE business had a really strong year with revenue up 45%, and Triton Datacom has made a nice recovery from a COVID-related softness in sales earlier in the year. Overall, we delivered 62% revenue growth and positive earnings per share for the quarter. Now much of the profit was related to the one-time benefit on the extinguishment of debt related to the forgiveness of our PPP loan. Gross margin dropped from 36% to 26% quarter over quarter. The 36% margin on Q4 of fiscal year 2020 benefited from the recovery of change order revenues from its previous Q2 of 2020 and was a one-time event. Margins during the recent Q4 21 were at 26%. Those have been impacted due to the mobilization and material costs related to starting up multiple new markets. This is expected to carry over into our current Q1, but should normalize over the rest of our fiscal year 2022. We expect as workloads in the new markets increase, and as we move through fiscal 2022, we will benefit from better economies of scale, making that segment of our business significantly more profitable. Over the last few months, we have won site awards to upgrade technology to 5G for over 600 cell sites, and we have increased our staffing to meet this growing demand. In fact, Staffing is the most challenging part of this growth in this tight labor market. Currently, we are running between 35 to 40 tower crews, up from 25 crews a few months ago. And we will be ramping up considerably from there during our Q2 of fiscal year 2022 to meet even greater expansion in the second half of this fiscal year 2022. As I previously said, the 5G network expansion will be massive, especially now that AT&T and Verizon are starting to build out their C-block spectrum. You are just starting to see the opportunity manifest in our results reported yesterday. This opportunity represents a multi-year secular trend, not just for tower, but for data centers, technology providers, handset manufacturers, and wireless carriers. The capital expenditure plans of wireless carriers are public information and often discussed. Power work is just one piece of this effort, and we are strategically positioned to capture a meaningful portion of this work due to our established relationships and experience crews under Fulton Technologies in key markets across the very center of the United States. With that, I'll now turn the call over to Michael Rullage, our new CFO, to provide a more detailed review of our financial results. Michael, please go ahead.