ESCO Technologies Inc.

Good day and welcome to ESCO's Q4 conference call. Today's call is being recorded. With this today are Vic Ritchie, Chairman and CEO, Gary Munster, Vice President and CFO. Now to present the forward-looking statement, I would like to turn the call over to Kate Lowry, Director of Investor Relations. Please go ahead.

Thank you. We issued a press release earlier today that will be referenced during the prepared remarks on this call. You can find a copy of our press release and our safe harbor statement regarding forward-looking statements made during this call in the investor center of ESCO's website at www.escotechnologies.com. During this call, the company may make forward-looking statements which are inherently subject to risk and uncertainty, including without limitation the impact and duration of the current COVID-19 pandemic, the company's response to these evolving circumstances, future results of the company, investments, acquisitions, and the recovery and strength of markets which we serve. Actual results may differ materially from those projected in the forward-looking statement, and the company does not assume any duty to update forward-looking statements. Please refer to the company's press release for risk factors which may impact any forward-looking statements and for the reconciliation of any non-GAAP financial measures to their most comparable GAAP measures. Now I'll turn the call over to Vic.

Thanks, Kate. Before we get into the financial details for the year, I'll provide a brief update on how we're working through today's COVID environment. We have maintained our detailed monitoring of the situation as things seem to change on an almost daily basis, and our goal is to stay ahead of the curve to provide a safe working environment and protect the health of our employees. As I said in the last call, when we saw the first indication of COVID's potential economic impact on our business, we took decisive action. The action we've taken over the past seven or eight months were done with a clear and precise focus, which was to protect our strong financial condition, to deliver products and services, and to support our customers, all while keeping our employees safe and healthy. Our solid operating results in fiscal 20, coupled with our strong liquidity position at September 30th, demonstrated that the measures we've taken to date have allowed us to hold our own through this unprecedented time. I'm confident that these actions, coupled with the remaining items we were working through over the next few months, will benefit ESCO as things begin to return to a more normal state. I'm confident that our disciplined approach to operating the business will result in our continued success as we enter 2021. Just recapping fiscal 20. After a thorough evaluation earlier in the year, we took action across the organization to adjust our cost structure to better fit our near-term sales outlook, while still supporting our long-term strategy for profitable growth. While these decisions were not pleasant, they needed to be done, as in the end, we ultimately strengthened our core. We were fortunate to have very experienced leadership teams across the company who have demonstrated their ability to effectively manage costs to meet changing market demands. And the current situation is no different. We are actively addressing the challenges of today while continuing to direct our efforts to come out of this even stronger tomorrow. ESCO will continue to benefit from our leading positions in various niche markets where we deliver a unique set of unique and highly technical products and solutions specifically designed to meet our customers' needs. This makes it difficult for our solutions to be replaced by alternative sources. We continue to focus on our future by continuing our investment in new products across all three segments. The fundamentals of our portfolio remain strong, and our goal remains the same, to create long-term shareholder value. Our employees are our most important asset, and I want to say thank you to our manufacturing employees, leadership teams, and staff around the world for their hard work and dedication, as you've all demonstrated an extraordinary commitment to the success of ESCO.