Ethan Allen Interiors Inc.

Good afternoon and welcome to the Ethan Allen Fiscal 2023 Third Quarter Analyst Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. It is now my pleasure to introduce your host, Mack McNulty, Senior Vice President, Chief Financial Officer, and Treasurer. Thank you. You may begin.

Thank you, Operator. Good afternoon, and thank you for joining us today to discuss Ethan Allen's fiscal 2023 third quarter results. With me today is Farouk Kaswari, our Chairman, President, and CEO. Mr. Kaswari will open and close our prepared remarks, while I will speak to our financial performance midway through. After our prepared remarks, we will then open the call for your questions. Before we begin, I'd like to remind the audience that this call is being recorded in webcast live under the News and Events tab on the Investor Relations page of our ethanallen.com website. There you will also find a copy of our press release, which contains reconciliations of non-GAAP financial measures referred to in the release and on this call. A replay of today's call will also be made available via phone and on our website. Our comments today may include forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to our SEC filings for a complete review of those risks. The company assumes no obligation to update or revise any forward-looking matters discussed during the call. With that, I'm pleased to now turn the call over to Mr. Cathwary.

Thank you, Matt. We are pleased with our strong financial performance for the quarter ended March 31st, 2023, especially compared to strong results for the previous period. Matt will review in detail our financials for quarter ended March 31st. We had sales of 186.3 million, strong gross and operating margins of 59.9% and 15.5% respectively. Our diluted earnings of 86 cents remained strong. And importantly, we ended the quarter with cash of 156.2 million and no debt. Also pleased, yesterday we announced that our regular cash dividend has been increased by 13% to 36 cents. Last week, we had an in-person convention with 300 of our leaders from retail, manufacturing, logistics, and our corporate teams. We launched with a grand opening of our interior design destination initiative at our flagship Danbury Design Center. We discussed many initiatives to continue to operate our business, also keeping in view the softening of the economy. After Matt provides the detailed financial overview, I will review our initiatives to maintain a strong operational and financial position. Matt?