Innovative Aerosystems, Inc.

Good morning and welcome to the Innovative Solutions and Support First Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. So if you need assistance, please signal a conference specialist by pressing the Start key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press Start then 1 on your touched home phone keypad. To withdraw your question, please press Start then 2. Please note this event is being recorded. I'll now turn the call over to Sharam Askapur. Please go ahead.

Good morning. This is Sharam Askapur, Chief Executive Officer of Innovative Solutions and Support. Welcome to our conference call to discuss our performance for the first quarter of fiscal 2022, current business conditions and outlook for the coming year. Joining me is Raul Vinant, our CFO. Before we begin, I'd like Rael to read the safe harbor statement.

Rael Johnson Thank you, Chairman. Good morning, everyone. I would remind our listeners that certain matters discussed in the conference call today, including new products and operational and financial results for future periods, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially, either better or worse from those discussed. including other risks and uncertainties reflected in our company's 10 , which is on file with the SEC, and other public filings. Before Sharon begins, I will read a statement from the Board of Directors. The Board of IS&S mourns the loss of our dear friend and colleague, Jeff Hedrick, and our deepest sympathies remain with Jeff's immediate and extended IS&S family. Jeff dedicated his entire professional career to advancing the state of the art and safety avionics systems and flight controls. His extensive innovations included altimetry, flight deck display systems, and most recently, a full regime auto throttle for turboprops. Leading publications such as Flying Magazine and organizations such as the AOPA recognized Jeff's significant contributions to the industry. Several of Jet's innovations have proven truly transformational and have directly benefited air travel. We will miss his unique vision, tenacity, and humor. Dr. Sheram Askapur has been promoted to Chief Executive Officer and elected to the Board of Directors with our full faith, confidence, and support. Sheram started with IS&S as Vice President of Engineering in 2003. and was promoted to president in 2012. For almost two decades, Sharon worked closely with Jeff, fully engaged in managing the business while contributing to numerous key innovations fueling IS&S' success. Most recently, he is named the vendor for the signal processing technology behind IS&S' new ThreatSense autothrottle, adding to his numerous existing aviation patents. Prior to IS&S, Sherman held technical and managerial positions with Smith Aerospace and Marconi Avionics. While Jeff's loss is immeasurable, IS&S is fortunate to have experienced, long-tenured leadership and a robust portfolio of industry-unique products. We feel extremely privileged to have the continuity of leadership provided by Sherman and his team and are confident IS&S will continue to execute on the industry-unique products and market opportunities that it enjoys. Now I'll turn the call back to Sherman.