Acuity Inc.

Good morning and welcome to Acuity Brands' fiscal 2020 fourth quarter financial conference call. After today's presentation, there will be a formal question and answer session. To ask a question, please press the star then one key on your telephone. Today's conference is being recorded. If you have any objections, you may disconnect at this time. Now I would like to introduce Mr. Pete Chenin, Vice President, Investor Relations and Corporate Development. Sir, you may begin.

Good morning. With me today to discuss our fiscal 2020 fourth quarter results are Neil Ash, our President and Chief Executive Officer, Karen Holcomb, our Senior Vice President and Chief Financial Officer, and Ricky Reese, our Executive Vice President and President of Acuity Brands Lighting. We are webcasting today's conference call at acuitybrands.com. During this call, we will also discuss certain non-GAAP financial measures, reconciliation to comparable GAAP financial measures, can be found in our fourth quarter press release. I would like to remind everyone that during this call, we may make projections or forward-looking statements regarding future events or future financial performance of the company. Such statements involve risk and uncertainty, such that actual results may differ materially. Further, forward-looking statements speak only as of the day they are made, and we undertake no obligation to update publicly any of these statements considering new information or future events. Please refer to our most recent 10-K and 10-Q FTC filings in today's press release, which identify important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Now, let me turn this call over to Neil Ash.

Thanks, Pete. Good morning, everyone. Thank you for spending time with us today to talk about acuity. Our company continued to perform well during the fourth quarter in a market that remained challenging. As I said in the third quarter, the combined strength of our go-to-market channels, product portfolio, and supply chain allowed us to effectively serve the needs of customers across many categories. We were able to maintain gross margins in line with prior year and the third quarter and continued to generate a significant amount of cash during the quarter. Some of the highlights of this quarter included continued strong performance by our supply chain, The health and well-being of our associates remained our top priority, which allowed our supply chain to continue to operate effectively so we could, in turn, service our customers. Continued new product development. We expanded our product offerings with several new product introductions. We repurchased about 687,000 shares of the company's common stock for $70 million during the quarter. I will discuss our capital allocation priorities in more detail in a few minutes. Finally, we continue to make progress on the execution of our digital transformation, and I will also provide more updates later in the call on that. Most importantly, our performance this quarter has continued to demonstrate the adaptability and durability of our business. While our revenue declined 5%, largely due to the COVID-19 pandemic, we held our gross profit margins and generated $450 million of free cash flow for the full year. With that, I'll turn it over to Karen for more detail on the financials. Karen?