Proto Labs, Inc.

Greetings and welcome to the Proto Labs first quarter 2020 earnings call. At this time, all participants are in a listen-only mode. A brief 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. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Dan Schumacher, Director of Investor Relations in FP&A. Thank you, sir. You may begin.

Thank you, Michelle, and good morning, everyone. With me today is Vicki Holt, our President and Chief Executive Officer, and John Way, our Chief Financial Officer. This morning, before the market opened, Proto Labs issued a press release announcing its financial results for the first quarter ended March 31, 2020. The release is available on the company's website at protolabs.com. In addition, a prepared slide presentation is available online at the web address provided in our press release. Before we begin, I would like to remind everyone that our discussions will include statements relating to future performance and expectations that are or may be considered forward-looking statements and subject to many risks and uncertainties that could cause actual results to differ materially from expectations. Please refer to our earnings press release and recent SEC filings, including our annual report on Form 10-K, for information on certain risks that could cause actual results to differ materially and adversely from any forward-looking statements made today. The results and guidance we will discuss include non-GAAP financial measures consistent with our past practice. Please refer to our press release and the accompanying slide presentation within the investor relations of our company website for a complete reconciliation of non-GAAP to GAAP results. Now I'd like to turn the call over to Vicki Holt, President and Chief Executive Officer of ProtoLabs. Vicki?

Thank you, Dan. Good morning, everyone, and thank you for joining us on our first quarter 2020 conference call. As you are all aware, we are in the midst of a global crisis. We are guided by our number one priority, which is the health and safety of Proto Labs employees, our communities, and our customers. The outbreak of the novel coronavirus, COVID-19, has impacted everyone, individuals, families, and businesses around the world, and Proto Labs is no exception. Our response to this pandemic, we have established a COVID-19 task force on February 22nd that quickly developed and began to implement action plans as part of a thoughtful and swift response to ensure the safety of our employees, our communities and our customers. Due to the services we provide and at the request of our customers, ProtoLabs has been deemed an essential business and all our global manufacturing operations have remained open. We continue to monitor and follow CDC and World Health Organization guidelines To ensure the health and safety of our employees, we quickly implemented new cleaning and sanitizing standard operating procedures in all our manufacturing facilities. We also implemented new shift change procedures to minimize employee interaction and changed layout in employee workstations to achieve social distancing. We minimized exposure of external vendors and ceased customer tours. We continue to evaluate solutions such as screening for fever and other symptoms to maintain the health of our employees. As for our office employees, we implemented travel restrictions in early March and canceled all trade show attendance. We halted face-to-face meetings and began transitioning as many employees as possible to working from home. We continue to make changes to support our employees and set them up for success in their new work environments.