TechPrecision Corporation

Good day, ladies and gentlemen, and welcome to the Tech Precision First Quarter 2020 Earnings Call. All lines have been placed on a listen-only mode. If you require assistance throughout the conference, please press star zero on your telephone keypad to reach a live operator. At this time, it is my pleasure to turn the floor over to your host, Jeff Standless, with Hayden IR. The floor is yours.

Thank you. On the call today is Alex Shen, Chief Executive Officer, and Tom Sammons, Chief Financial Officer. The call is also being simulcast on the company's website at www.techprecision.com. Before we begin, I'd like to remind our listeners that management's remarks may contain forward-looking statements which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. Therefore, the company claims the protection of the safe harbor for forward-looking statements as contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ from those discussed today, and therefore, we refer you to a more detailed discussion of risks and uncertainties in the company's financial filings with the SEC. In addition, projections as to the company's future performance represents management's estimates as of today, August 13, 2019. Tech Precision assumes no obligation to revise or update these forward-looking statements. With that out of the way, I'd like to turn the call over to Alex Shen, Chief Executive Officer, to provide opening remarks. Alex, go ahead.

Thank you, Jeff. Good day to everyone, and thank you for joining us. Our results for the first quarter of fiscal year 2020 were highlighted by net sales of $4.3 million, and net income of $221,000. Net income was 34% higher for the first quarter of fiscal year 2020 when compared to net income for the first quarter of fiscal year 2019. We improved liquidity by adding $1.5 million to our available cash balance in the first quarter of this fiscal year. At June 30, 2019, we had a backlog of orders totaling approximately $14 million compared to approximately $12.6 million at March 31, 2019. Now, I'd like to turn the call over to Tom Sammons, to tell us more about our first quarter financial results.