Synalloy Corporation

hold. Thank you for your patience. Music Good afternoon, everyone, and thank you for participating in today's conference call to discuss Sinaloa's financial results for the fourth quarter and full year ended December 31, 2020. Joining us today are Sinaloa's interim president and CEO, Chris Hutter, CFO Sally Canningham, and the company's outside investor relations advisor, Shan Manzuri. Following their remarks, we'll open the call for your questions. Before we go further, I would now like to turn the call over to Mr. Manzuri as he reads the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995-2022. that provides important questions regarding forward-looking statements. Sean, please go ahead.

Thank you. Good afternoon, everyone, and thank you all for joining our conference call to discuss Sinaloa's fourth quarter and full-year 2020 financial results. Before we continue, we would like to remind all participants that the discussion today may contain certain forward-looking statements pursuant to the safe harbor provisions of the federal securities laws. These statements are based on information currently available to us and are subject to various risks and uncertainties that could cause actual results to differ materially. Sinaloa advises all of those listening to this call to review the latest 10Q and 10K posted on its website for a summary of these risks and uncertainties. Sinaloa does not undertake the responsibility to update any forward-looking statements. Further, the discussion today may include non-GAAP measures in accordance with Regulation G, the company has reconciled these amounts back to the closest gap-based measurement. The reconciliations can be found in the earnings press release issued earlier today and posted on the investor section of the company's website at Sinaloi.com. Please note that this call is available for replay via a webcast link that is also posted on the investor section of the company's website. With that, I'll turn the call over to the interim president and CEO of Sinaloi, Chris Hunter. Chris?

Thank you, Sean. Good afternoon, everyone. Thank you for joining today's call. I hope you have all continued to stay safe and well amid the ongoing challenges of the COVID-19 pandemic. I wanted to start off by saying that I'm incredibly honored to be leading the team here at Sinaloa and have gained significant insight regarding our operations and capabilities since joining as the interim president and CEO just a few months ago. I've been particularly impressed by the dedicated employees throughout the organization who have persevered through this unique time and continue to work hard every day to deliver high-quality products and services to our customers. While this has certainly been a challenging year, the commitment of our hardworking team ensured that Sinaloa not only survived 2020, but is now positioned to thrive for years to come. Looking at how we closed out the year, our fourth quarter net sales came in as expected given our customers continued to be affected by the uncertainty resulting from the pandemic. However, this did not prevent us from making progress on the things within our control. We were able to take proactive steps to improve efficiency across our operations, production, and purchasing, along with implementing new cost containment measures. Though many of these initiatives are either just being identified or only in their early stages, I am pleased to report that our efforts resulted in improving profitability across our businesses as we reported modest year-over-year and sequential increases in adjusted EBITDA and adjusted EBITDA margin for the fourth quarter. As just one example of our intent to remove costs that do not provide an economic payback, we have terminated our aircraft lease and our intent on selling that as soon as possible. We don't expect to realize meaningful upfront proceeds, but we will see savings on an ongoing basis. In a similar approach, Through the tireless efforts of Sally and the finance department, we have already begun to forecast meaningful savings from our approach to outside service providers. These efforts will be ongoing and parallel to our work on the sales, resource planning, and manufacturing efficiency fronts. While I'm proud of the progress we have made thus far, this is truly just the beginning of our work to transform this business and drive long-term shareholder value. We have plenty of room for improvement. and I'm excited to be a part of this organization as we grow together. I'll dive deeper into each of our segments, but first I'd like to turn the call over to our CFO, Sally Cunningham, who will walk you through our fourth quarter financial results in more detail. Sally?