The Singing Machine Company, Inc.

Good day, everyone, and welcome to the Singing Machine year-end earnings call. At this time, all participants are in a listen-only mode. Later, you will have an opportunity to ask questions during the question-and-answer session. You may register to ask a question at any time by pressing the star and 1 on your touch-tone phone. Please note this call may be recorded. It is now my pleasure to turn today's program over to Brendan Hopkins. Please go ahead.

Thank you, everyone, for taking the time to join us today. We have a quick safe harbor, and we'll get started. Except for historical information contained herein, the statements in this conference call are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Security Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. With that said, I'd like to turn the call over to Gary Atkinson, CEO of The Singing Machine.

Thank you, Brendan. This is Gary Atkinson, company CEO. I also have with me Lionel Marquis, company CFO, and Bernardo Mello, company VP of Sales and Marketing. I'd like to start off by thanking everybody for joining today's call to discuss our fiscal 2021 year-end results. Lionel will start the call by discussing the numbers in more detail, and Bernardo will give an update on sales initiatives. But I wanted to start the call off by saying the management team here is very proud to share the results of this fantastic year. particularly given all of the challenges that we all experienced last year. By all measures, fiscal 21 was a very, very strong year for us where we were able to fully execute upon our plan. We successfully were able to drive explosive sales growth by almost 20%. We were able to expand margins by almost 6%. We successfully were able to lower expenses and subsequently reported over $2.2 million in net income, which works out to about a $5.1 million turnaround from the prior year. Further, from a technology perspective, we were also successful in executing and launching a new integrated digital music content subscription service that launched in our new Wi-Fi enabled machines that we launched into Costco and Sam's Club last year. The pilot program was a very successful program in terms of high hardware sell-through, and subscription conversion rates were also extremely positive. We're going to touch a little bit more on that later in the call, but for that, I want to turn it over to Lionel Marquis to cover the numbers in more detail.