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spk03: $28 million for $3.4 million lower than our first quarter SG&A expenses in 2023. The decrease is due to a $2.9 million decrease in variable expenses and a $1 million decrease in depreciation expenses that was partially offset by a $600,000 increase in rent costs. Looking ahead, we continue to actively pursue a number of expense management initiatives focused on reducing controllable expenses. Turning our attention to the balance sheet, we ended the quarter with $88.8 million of inventory and continue to carry no debt. As Cab mentioned in his remarks, despite the challenging top line results for the first quarter, we generated $18.6 million of operating cash flow and ended the quarter with a $24 million cash balance. With that, Cab and I are happy to take any questions.
spk01: Thank you. At this time, we will conduct the question and answer session. As a reminder, to ask a question, you will need to press star 1-1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1-1 again. Please stand by while we compile the Q&A roster. I'm showing no questions in the queue. I would now like to turn the call over back to Kenan.
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