DMC Global Inc.

Please stand by. We are about to begin. Good day, ladies and gentlemen, and welcome to your DMC Global third quarter earnings call. All lines have been placed in a listen-only mode, and the floor will be open for your questions and comments following the presentation. At this time, it is my pleasure to turn the floor over to Geoff High, VP of Investor Relations. Sir, the floor is yours.

Hello and welcome to DMC's third quarter conference call. Presenting today are President and CEO Kevin Long and CFO Mike Kuda. I'd like to remind everyone that matters discussed during this call may include forward-looking statements that are based on our estimates, projections, and assumptions as of today's date and are subject to risks and uncertainties that are disclosed in our filings with the SEC. Our business is subject to certain risks that could cause actual results to differ materially from those anticipated in our forward-looking statements. DMC assumes no obligation to update forward-looking statements that become untrue because of subsequent events. A webcast replay of today's call will be available at dmcglobal.com after the call. In addition, a telephone replay will be available approximately two hours after the call. Details for listening to the replay are available in today's news release. And with that, I'll now turn the call over to Kevin Long. Kevin?

Thank you, Geoff, and good afternoon, everyone. DMC reported third-quarter sales that exceeded the high end of our guidance. The results were driven by improved customer demand at DynEnergetics, our oil field products business, as well as better-than-expected shipments at Nobiclad, our composite metals business. Our performance also reflects the efforts of our employees around the world, who have performed exceptionally well in the face of a global pandemic, a very challenging oil and gas market for DynEnergetics, and project delays within a variety of end-use markets that have pushed out orders at noble clout. DynEnergetics benefited from an improvement in North American wealth completion after a very weak second quarter and from strong third quarter international sales. The increase in activity in North America, coupled with DynEnergetics' efforts to align with leading operators and service companies, led to a 122% sequential improvement in North American revenue, albeit off a very low second quarter base. DynEnergetics DS factory assembled performance assured perforating systems, which we delivered just in time to the well site, are enabling North American customers to respond quickly to increasing demand. Tuesday evening of this week, DynEnergetics received a call from a service company that was in a jam using field-assembled components. The field-assembled guns were not meeting the needs of its E&P customer, and the service company placed an emergency order for DS systems. The following morning, 400 of our DS systems were delivered to the customer's well site and have already been deployed. The E&P customer was pleased with the switch to our DS systems and is already committed to deploying several thousand more over the coming months. Demonstrating the quality of our systems and just-in-time business model. DS systems require fewer people at the well site and less infrastructure and inventory. They enable customers to reduce the capital intensity of their operations and improve their returns on invested capital. In addition, the safety, performance, and reliability of our systems improves the effectiveness of our customers' completion programs and the performance of their well. We are cautiously optimistic that the bottom of the market is behind us and are encouraged by the modest improvement in well completions we saw during the third quarter. We believe this increase will be sustained through the end of the year. The activity improvement has accelerated the reduction of low-priced inventory in the market and the industry is closer to being back in balance. We expect the inventory overhang will be depleted during the first half of next year and this should lead to improved demand for our DS systems. On the international front, we anticipate a seasonal sales decline during the fourth quarter and then improved order volume beginning early next year. Novoclad continues to deliver steady top-line results and improved profit margins, despite the impact of several order delays related to the COVID-19 pandemic. Nobile Cloud's unique know-how in composite metal production has helped it establish a loyal customer base within several large and stable end markets. This is particularly valuable given the inherent volatility in our core energy markets. Nobile Cloud continues to invest in the development of new applications and is pursuing opportunities in a broad range of industrial processing, transportation, and alternative energy industries. During the third quarter, Novoclad shipped its first clad plates to a customer in the engineered wood industry. The plates are being used to reduce maintenance costs and extend the life of the customer's wood presses, which are exposed to high temperatures and corrosive glues and resins. This order resulted from two years of efforts by Novoclad, and we are optimistic it will lead to additional opportunities in the global engineered wood industry. In July, Antoine Nobili was promoted to President of Nobleclad. Antoine has developed strong application expertise and business acumen during his 25 years with Nobleclad, and he has been instrumental in expanding the global market for our composite metal plates. We further strengthened our balance sheet during the third quarter and ended the period with cash and cash equivalents of $24.6 million. Total debt at September 30th was $12 million, and our $50 million revolving credit facility is undrawn and fully available. Earlier today, we filed a prospectus supplement with the SEC to establish an at-the-market offering program. Under the program, we made from time to time sell shares of our common stock for aggregate proceeds of up to $75 million. We plan to use the proceeds for general corporate purposes, which may include working capital, debt repayment and potential acquisitions or investments in businesses, products or technologies. Details about the program are available in the prospectus supplement. I'll now turn the call over to Mike for a review of our third quarter financial performance. Mike.