B.O.S. Better Online Solutions

Ladies and gentlemen, thank you for standing by. Welcome to the BOS second quarter 2022 results conference call. All participants are 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 BOS website as of tomorrow. With us on the line today are Mr. Ziv Dekel, Chairman, Mr. Eyal Cohen, CEO, and Mr. Moshe Zelter, CFO. Before I turn the call over to Mr. Cohen, I would like to remind everyone that forward-looking statements for the respected 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, changing economic conditions, risks in product and technology development, and the effect of the company's accounting policies, as well as certain other risk factors, which are detailed from time to time in the company's filings with the various securities authorities. I would now like to turn the call over to Mr. Eyal Cohen, Chairman. Mr. Cohen, please go ahead.

CEO, not Chairman, sorry. Thank you for joining our call today. We have progressed towards bosses' long-term growth during the year's first half, and our revenues grew by 28% compared to the comparable period last year. The RFID division revenues grew by 22%, in the year's first half compared to the comparable period last year. In addition, this division completed the integration of its earlier this year's acquisition. The supply chain division has leveraged the global shortage of electronic components and its revenue grew by 40% in the first half of the year compared to the comparable period last year. In addition, The supply chain division has established a new sales engineering department to increase the number of electronic manufacturers we represent, which is a substantial element for long-term growth. In the robotic division, we made some progress in increasing the portion of revenues from the sale of catalog machines versus custom-made machines, which we believe will improve the profitability of this division. You are invited to review our catalog machines on the BOSS Robotics website. In addition, the robotic division successfully developed and launched a new line of automatic sorter machines for logistics centers, which we believe has good sales potential. And we will distribute impressive videos soon. On the cost side, we are in a challenging period characterized by increased operational costs. Hence, recently, we purchased part of the facility's release. In addition, we plan to relocate the robotic factory by the end of this year. Furthermore, there are shortages in goods and employees. However, the BOSS approach sees it as a business opportunity rather than a business obstacle. That completes my review. Thank you.

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