MIND Technology, Inc.

Greetings and welcome to the MIND Technology Fiscal Fourth Quarter 2021 Conference Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It's now my pleasure to introduce your host, Ken Denard. Please go ahead.

Thank you, Operator. Good morning and welcome to the Mine Technology Fiscal 2021 Fourth Quarter and Year-End Conference Call. We appreciate all of you joining us today. Your hosts are Rob Capps, Co-Chief Executive Officer and Chief Financial Officer, and Guy Mauldin, Co-Chief Executive Officer and Executive Vice President of Marine Systems. Before I turn the call over to management, I have a few of the normal housekeeping details to run through. If you'd like to listen to a replay of today's call, it'll be available for 90 days via webcast by going to the investor relations section of the company's website at mind-technology.com or via recorded telephonic instant replay until April 20th. And information on how to access the replay was provided in yesterday's earnings release. Information reported on this call speaks only as of today, Tuesday, April 13th, 2021. And therefore, you're advised that time sensitive information may no longer be accurate as of the time of any replay listening or transcript reading. Before we begin, please let me remind you that certain statements made by management during this call may constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on management's current expectations and include known and unknown risks, uncertainties, and other factors, many of which the company is unable to predict or control, that may cause the company's actual future results or performance to materially differ from any future results or performance expressed or implied by these statements. These risks and uncertainties include the risk factors disclosed by the company from time to time in its filings with the SEC, including its annual report on Form 10-K for the year ended January 31st, 2021, Furthermore, as we start this call, please also refer to the statement regarding forward-looking statements incorporated in our press release issued yesterday, and please note that the contents of the conference call are also covered by these statements. And now, without further ado, I'd like to turn the call over to Guy Malden. Guy?

Thanks, Ken, and good morning, everyone. We would like to thank you for joining us today for our fiscal 2021 fourth quarter and year-end conference call. As you all will appreciate, the last 13 months have presented an unprecedented challenge. Now, those challenges notwithstanding, we accomplished a great deal this past year and believe we are well positioned for an improving business environment. Now, let me highlight a few of those accomplishments. Last summer, after receiving shareholder approval, we initiated our rebranding by reincorporating from Texas to Delaware and renaming the company Mind Technology. This action coincided with our decision to exit the land leasing business, and we think reflects an inflection point in the company's transformation. One of the actions that has helped expedite this transformation is expansion of our human capital. We believe the additions we have made, when combined with our existing personnel, create a powerful team. Last July, we consummated an alliance that reflects one of our principal strategic initiatives. that is the pursuit of non-organic growth either through strategic partnerships or acquisitions. In this case, we entered an agreement with a major European defense contractor to jointly upgrade existing technology to create the next generation of synthetic aperture sonar systems, or SAS, for both the commercial and military markets. This technology is designed to meet the growing need for higher resolution sonar systems used in very demanding and critical functions such as mine countermeasures and higher-end commercial surveys. Also last summer, we successfully demonstrated new sonar technology and systems tailored specifically for unmanned vehicle applications. With the growth in the use of unmanned or uncrewed vehicles, we think this is a very exciting market opportunity that holds great promise. From late fall through the winter, we began to see signs that demand in our marine exploration market was improving as inquiry and bid activity increased. Subsequently, we have received a number of orders related to our line of energy source controllers and related products. Last month, we entered into a master service agreement with PGS for the provision of source controllers and related services. This new framework expands our longstanding relationship with PGS and will enable us to efficiently service and supply advanced source controller technology to their fleet over the coming years. Overall, these orders suggest that the marine markets may be poised for greater levels of activity through the year. The sizable jump in our backlog to over $14 million as of the end of the year versus $8.2 million at the end of the third quarter and about $8.9 million at the beginning of the year seems to corroborate this and we think is an indicator of an improving outlook. Let me now turn the call over to Rob, who will discuss our fourth quarter financial results in more detail and add some closing comments before turning the call over for Q&A. Thanks, Guy.