Richardson Electronics, Ltd.

Good morning, ladies and gentlemen, and welcome to Richardson Electronics' third quarter of fiscal year 2023 conference call. After this speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automatic message advising your hand is raised. As a reminder, today's call may be recorded. I would now like to turn the conference over to Mr. Edward Richardson, Chief Executive Officer. Please go ahead, sir.

Good morning and welcome to Richardson Electronics Conference Call for the third quarter of fiscal year 2023. Joining me today are Robert Benn, Chief Financial Officer, Wendy Dedell, Chief Operating Officer and General Manager for Richardson Healthcare, Greg Peliquin, General Manager of our Power and Microwave Technologies Group, and our newest business unit, Green Energy Solutions, and Jens Rupert, General Manager of Canvas. As a reminder, this call is being recorded and will be available for playback. I would like to remind you that we'll be making forward-looking statements. They're based on current expectations and involve risks and uncertainties. Therefore, our actual results could be materially different. Please refer to our press release and SEC filings for an explanation of our risk factors. We're extremely pleased with the continued strong financial performance in the third quarter. This is the 10th consecutive quarter where we've had year over year growth. I'm very proud of the entire organization this quarter for shipping more than $70 million in product. The backlog in our green energy solutions increased over the last quarter, and we're more confident than ever that this business unit will become a significant and growing percentage of our overall revenue. Certainly the economy is not without its challenges. Continued inflation, rising interest rates, Ongoing supply chain issues and new legislation have the potential to impact our business. To date, this impact has been minimal, mainly because of our diversity in engineered solutions. Alternative energy continues to be a global focus, driving demand for our wind energy solutions. Our partnerships with our electric locomotive customers and suppliers are solid. Acceptance of synthetic diamonds throughout the world is increasing demand for our magnetrons. and our core businesses perform well with both EDG and Canvas having another strong quarter. Today, more than 60% of our revenue comes from products we manufacture or have manufactured exclusively for us. Ultracapacitor and lithium iron phosphate battery modules, magnetrons, and many other tubes and related products are manufactured by us in LaFox, Illinois. Displays are manufactured in our display hubs in Marlborough, Massachusetts, and down at Eschingen, Germany. Our manufacturing employees are cross-trained and can be moved to different areas to meet the needs of our business units and ongoing growth. We have many products in development that will further allow us to continue this growth and adapting to changing market conditions. Greg, Wendy, and Jens will provide more details in the quarter on these key growth initiatives. First, Bob Ben, our Chief Financial Officer, will review our third quarter financial performance in more detail.

Thank you, Ed, and good morning.