TechPrecision Corporation

Greetings and welcome to the Tech Precision Corporation Fiscal 2026 Fourth Quarter Earnings Call. At this time, all participants are in listen-only mode. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Brett Moss, Managing Director of Hayden IR. Thank you, sir. You may begin.

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 Delegation 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, June 22, 2026. 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, the floor is yours.

Brett, thank you. Good afternoon to everyone, and thank you for joining us. Fiscal year 2026, fourth quarter, consolidated revenue was $8.1 million, or 15% lower when compared to $9.5 million in the fiscal year 2025, fourth quarter. Consolidated gross profit totaled $1.1 million, or 47% lower when compared to the fourth quarter of fiscal 2025. primarily due to lower revenue and resulting margin drop through at STATCO. Fourth quarter STATCO revenue was $4.2 million, with gross profit of $28,000. Two factors drove the low gross profit. One, delays in receiving customer furnished materials. Two, delays in customer analysis and disposition of non-conformances. We are actively working with our customers to shorten the delays to improve our throughput. Fiscal year 2026 fourth quarter Raynor revenue was $3.9 million, with gross profit of $1.1 million, or 16% lower when compared with the prior year fourth quarter results. We continue to strategically improve both our customer and project mix towards gross margin expansion at Stadco. 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. Our Raynor segment continues to execute and install new equipment funded by the $24 million plus in grants from our U.S. Navy submarine programs-related customers. This sustained cadence of new equipment procurement, delivery, and installation will enable a reliable, robust, and resilient manufacturing capacity dedicated to submarine programs. At both Stadco 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 STADCO 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 strong $52 million backlog. This $52 million backlog only includes the funded portions of customer purchase orders with an additional approximately $25 million additional of unfunded purchase orders. we expect to deliver this $52 million backlog over the course of the next one to three fiscal years with gross margin expansion. With that said, we are providing guidance for fiscal year 2027. The company is projecting 2027 full year revenue to be $35 million to $37 million. We are projecting EBITDA to be $3 million to $4 million. Now, I will turn the call over to our Chief Financial Officer, Phil Podgorski, to continue with the review of our fourth quarter and 12-month ended fiscal 2026 results. Phil?