B.O.S. Better Online Solutions

Ladies and gentlemen, thank you for standing by. Welcome to the BOSS fourth quarter and full year 2020 results conference call. All participants are at present in listen only mode. Following management's formal presentation, instructions will be given for the question and answer session. For operator assistance during the conference, please press star zero. As a reminder, this conference call is being recorded and will be available on the BOSS website as of tomorrow. With us on the line today are Mr. Eyal Cohen, CEO, and Mr. Moshe Zeltzer, CFO. Before I turn the call over to Mr. Cohen, I would like to remind everyone that forward-looking statements for the respective company's business, financial condition, and results of its operations are subject to risks and uncertainties, which could cause actual results to differ materially from those contemplated. Such forward-looking statements include, but are not limited to, product demand, pricing, market acceptance, Thank you and welcome to Bosch Earnings Call.

I am pleased with the progress we made in the second half of year 20 with two consecutive quarters of growth in revenues and profits. We have made significant progress in building the robotic division to be the growth engine of BOSS. We saw its initial yield in the fourth quarter revenues as the robotic business became the primary growth factor. Our robotic division provides downstream automation mainly for mold producers, starting at the mold injection process, through the quality inspection, assembly, and packing of the molds. Our robotic system reduces the workforce, shortens the production cycle, and improves quality controls. Those are the critical factors for proving ROI. The Robotic Division mission is to be a leading provider of robotic systems for mold producers, mainly in North America. To execute this mission, we established sales and technical support in the USA, and we made good progress in improving production efficiency at our development and production center in Israel. Yet, we have a lot to improve, and I am on it personally. Supply Chain Division Its revenues reduced by 5% in year 20, primarily related to India's market, but thanks to increase in North America sales and improved gross profit margins, the operating income of year 20 amounted to $1.1 million, roughly the same as it was in year 19. RFID division. Its revenues for year 20 decreased by 7% due to the COVID. But thanks to cost reduction and improved gross profit margin, the operating profit of year 20 increased to approximately $1 million versus operating loss of $100,000 in year 19. That completes my review, and now I will take your questions.

Thank you. Ladies and gentlemen, at this time, we will begin the question and answer session. If you have a question, please press star 1. If you wish to decline from the polling process, please press star 2. If you are using speaker equipment, kindly lift the handset before pressing the numbers. Your questions will be pulled in the order they are received. Please stand by while we poll for your questions. The first question is from Todd Felty of Advisory Group Equity Services. Please go ahead.