TechPrecision Corporation

Greetings and welcome to the Tech Precision Corporation fiscal year 2026 second quarter financial results call. At this time, all participants are placed on a listen-only mode and a 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. And please note, this conference is being recorded. I will now turn the conference over to your host, Mr. Brett Maas with Hayden IR. Sir, the floor is yours.

Thank you. On the call today is Alex Shen, Chief Executive Officer, and Phil Podgorski, 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 Mitigation 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 FCC. In addition, projections as to the company's future performance represents management's estimates as of today, November 13th, 2025. TechPosition 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 of ProvideOpeningWorks. Alex, please continue.

Thank you, Brett. Good afternoon to everyone, and thank you for joining us. Please excuse my raspy voice, a little bit of a cold here. Fiscal 2026 second quarter consolidated revenue was $9.1 million or 2% higher when compared to $8.9 million in the fiscal year 2025 second quarter. Consolidated gross profit totaled $2.5 million or $1.4 million higher when compared to the second quarter of fiscal year 2025. At both Raynor and Stadco segments, Favorable customer mix has resulted in improved margins. Fiscal year 2026, second quarter, Raynor revenue was $4.4 million with operating profit of $1.6 million. Second quarter, Stadco revenue was $4.8 million with operating loss of $0.5 million compared to the same period a year ago. Stadco had an $873,000 improvement in operating income. For second quarter, operating income was $0.9 million and favorable customer mix enabled three drivers. One, better throughput at FADCO, resulting in higher revenue. Two, lower provision for losses from specific first article costs. And three, lower provision for losses from one-time, one-off contracts. We remain highly focused on aggressive daily cash management, a critical piece of risk mitigation. We continue to manage and control expenses, capital expenditures, customer advances, progress billings, and final invoicing at shipment. Our tactical execution focus and success enables us to continuously re-secure strategic customer confidence at both segments. At our Raynor segment, sustained delivery and installation of new equipment continues as we specifically execute the $21 million plus of completely funded grant money from our U.S. Navy-related customers. Customer confidence remains high. At both STATCO and Raynor, our customers have expressed their strong confidence as we continue to maintain on-time delivery of quality components. This delivery performance is leading both STATCO and Raynor to new quoting opportunities in air defense and submarine defense sectors with the same customers that already know and trust our capabilities. Both subsidiaries are continuing to experience meaningful new capture of business awards from these same customers, adding to our already strong $48 million backlog. We expect to deliver this $48 million backlog over the course of the next one to three fiscal years. with gross margin expansion. Now I'd like to turn the call over to our Chief Financial Officer, Phil Podgorski, to continue with the review of our second quarter and six months ended fiscal year 2026 results. Phil.