Cyanotech Corp

Aloha from Kona, Hawaii. Thank you all for joining us today. We are pleased to report Cyanotech's third quarter fiscal year 2020 earnings results. I am Jerry Sosuski, Chief Executive Officer for Cyanotech and Nutrex. At this stage, I would like to introduce our Chief Financial Officer, Brian Orlop, who will make a safe harbor statement and review our financial results for the third quarter. We will respond to questions after Brian shares the quarter three results.

Thank you, Jerry. Let me start by saying our discussion today may include forward-looking statements. We do not undertake any obligation to update forward-looking statements either as a result of new information, future events, or otherwise. Our actual results may differ materially from what is described in these forward-looking statements. Some of the factors that may cause results to differ are listed in your publicly filed documents. For additional information, we encourage you to review our 10Q and 10K filings with the Security and Exchange Commission.

Thank you, Brian. Before Brian discusses the details of the quarter, I would like to point out that our third quarter achieved sales of $7.5 million, a decrease of $2.5 million, or 25% from quarter three of fiscal 2019. While the results are below last year's unusual level, on a nine-month basis, our sales volume and profit margins appear to be normalizing. We continue to focus on our primary core areas of production stabilization, efficiencies in market spending, and cost control across all departments.