Omni-Lite Industries Canada Inc.

Good day, ladies and gentlemen, and welcome to the OmniLight Industries Investor Conference Call. All lines have been placed on a listen-only mode, and the floor will be open for questions and comments following the presentation. If you should require assistance throughout the conference, please press star zero on your telephone keypad to reach a live operator. At this time, it is my pleasure to turn the floor over to your host, Amy Vetrano-Palmer. Ma'am, the floor is yours.

Thank you. Good afternoon and thank you for joining us. With me today is our Chief Executive Officer, Dave Robbins. Our call is being recorded and will be available for playback, the details of which are in our issued press release. The purpose of today's call is to provide an update on OmniLight operations as we filed our third quarter 2022 results. After our remarks, we will open up the line for Q&A. If you have not received a copy of our press release we issued Tuesday, you may find it on our website, www.omni-light.com. Before we get started, I would like to remind you that today's discussion will or may include forward-looking statements, including information regarding OmniLight's performance based on our views of the company's business and the environments in which they operate. our future plans, objectives, business prospects, and anticipated financial performance. These forward-looking statements are subject to future risks and uncertainties that could cause our actual results or performance to differ materially. We are also mindful of the risks and impacts of changes in the health of our general economy, U.S. and global commercial aerospace markets, and the U.S. Department of Defense budget. All forward-looking statements should be considered in conjunction with the cautionary statements contained in our press release. The risk factors included in OmniLite CDAR filing, the company disclaims any obligation to update any forward-looking statements that may be discussed during this call. I'd also like to mention that in addition to reported financial results in accordance to the international financial reporting standards, or IFRS during our call, we may also discuss or reference non-IFRS financial measures, specifically adjusted EBITDA, free cash flow, and organic revenue. A reconciliation of these non-IFRS measures is included in our applicable CDAR filings and press releases. Lastly, unless noted, any reference or discussion of our financial results or metrics are in U.S. dollars. I'd like to now turn it over to Dave.

Thanks, Amy. Good afternoon, everyone, and thanks for joining us. I'd like to make a few comments about our third quarter 2022 performance, followed by comments on our current business. Third quarter 2022 revenue of $3.2 million marked an increase from third quarter 2021 and up sequentially from Q2 2021. Bookings for the third quarter remained solid, keeping backlog at a strong 3.7 million, with approximately 80% expected to shift in Q4 2022. Growth in the quarter was driven by a combination of increase in commercial air transport products and newly designed products, notably titanium structural fastener components. Contribution improved on increased sales, was offset by product mix and integration costs in Cassidy's business. Market demands in commercial aerospace from robust domestic travel and narrowbody production is pushing structural fasteners and hand engine components demand at a steady growth rate into 2023 and beyond. New component bookings in the quarter continues to validate our competitive mode of agility and relatively short lead times with the ability to engineer and manufacture high-performance components. The persistence of these lengthening of lead times and uncertainty of delivery from our domestic and international competitors signals to us the robust need for our manufacturing into 2023. So to summarize, really, our Q3 performance trajectory underpins the strength in our marketplace and the opportunity we intend to further improve on. With that, I'd like to turn the call over to Amy. Amy?