Badger Meter, Inc.

Ladies and gentlemen, welcome to the fourth quarter and full year 2020 Badger Meter Earnings Conference call. At this time, all participants are in a listen-only mode. After the speaker's remarks, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. As a reminder, today's conference is being recorded. It is now my pleasure to turn the conference over to Karen Bauer, Vice President of Investor Relations, corporate strategy and treasurer. Please go ahead, Ms. Bauer.

Good morning, and thank you for joining the Badger Meter fourth quarter 2020 earnings conference call. I hope you're all doing well and staying safe. On the call with me today are Ken Bockhorst, Chairman, President, and Chief Executive Officer, and Bob Rockledge, Chief Financial Officer. The earnings release and related slide presentation are available on our website. Quickly, I will cover the safe harbor, reminding you that any forward-looking statements made during this call are subject to various risks and uncertainties, the most important of which are outlined in our press release and SEC filings. On today's call, we'll refer to certain non-GAAP financial metrics. Our press release and slides provide a reconciliation of the GAAP to non-GAAP financial metrics used. With that, I'll turn the call over to Ken.

Thanks, Karen, and thank you for joining our fourth quarter earnings call. Obviously, there are many aspects of 2020 that we, along with many of you, are happy to turn the page on as we focus on a safer and healthier 2021. However, this morning, we do want to spend a few minutes looking back and summarizing our fourth quarter and full year 2020 results, and then talk a bit about the new fiscal year and the long-term opportunities at Badger Meter. In summary, we were pleased with our fourth quarter results, which demonstrated the continued stability and resiliency of our utility water and market. As anticipated, flow instrumentation sales were less worse sequentially, but still down year over year. We delivered gross margin improvement, continued cash flow generation and EPS growth, albeit with a number of moving parts that Bob will walk through in more detail. I'm extremely pleased with our ability to complete two meaningful acquisitions over the past several months that are strategic growth drivers for BadgerMeter. Earlier this month, we acquired Analytical Technologies Inc., or ATI. Combined with SCAN, which we purchased in November 2020, we now have a great foundation in which to build a real-time, on-demand water quality monitoring offering to customers in both utility water and industrial markets. I'll talk about the water quality offering in more detail later on the call, as well as the current environment and what we see looking out into 2021 and beyond. Bob, with that, I'll turn the call over to you.