TechPrecision Corporation

Good day, ladies and gentlemen, and welcome to today's call. All lines will be placed on the listen-only mode, and the floor will be open for questions and comments following the presentation. If you should require assistance throughout the conference, please press star zero on your telephone keypad to reach a live operator. It is now my pleasure to turn the floor over to your host, Brent Moss of Hayden IR. Sir, the floor is yours.

Thank you. On the call today is Alex Shen, Chief Executive Officer, and Tom Sammons, Chief Financial Officer. 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 of the SEC. In addition, projections as to the company's future performance represents management's estimates as of today, November 13th, 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?

Brett, thank you. Good day to everyone, and thank you for joining us. Our second quarter of fiscal year 2020 was highlighted by the startup of multiple new projects, following the addition of $11 million in new sales orders since March 31, 2019. Our backlog at September 30, 2019, totaled $16.4 million, an increase of $3.8 million compared to $12.6 million at March 31, 2019. With the new projects coming online in the second quarter, we expect to operate above current revenue and operating income levels and return to profitability during the second half of fiscal 2020. I would now like to turn the call over to Tom Sammons who will tell us more about our second quarter financial results. Tom? Thank you, Alex. Net sales were 3.1 million for the second quarter of fiscal 2020 compared to 3.6 million in the second quarter of fiscal 2019. As Alex commented, our backlog remains strong as new orders for components continue to slow down from prime defense contractors.