Omni-Lite Industries Canada Inc.

Good day, ladies and gentlemen, and welcome to your OmniLight year-end December 31st, 2022 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 to reach a live operator. At this time, it is my pleasure to turn the floor over to your host, Amy Vetrano Palmer, CFO. Ma'am? The floor is all yours.

Thank you so much. Good morning, and thank you for joining us. With me today is Chief Executive Officer Dave Robbins. Our call is being recorded and will be available for playback, the details of which are contained in our press release issued yesterday, April 20th. The purpose of this call is to provide an update of OmniLight's financial performance and operations, as we filed our total year 2022 results yesterday morning. Our remarks will be open for the line for question and answer after the call. If you have not received a copy of our press release, which was issued yesterday morning, you can find it on our website, www.omni-light.com. or email us at d.robbins at OmniLight.com or avitrano-palmer at Omni-Light.com to request a copy. Before we get going, 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, the environments in which they operate, our future plans, objectives, business prospects, and anticipated financial performance. These forward-looking statements are subject to future risk and uncertainties that could cause our actual results or performance to differ materially. We are also mindful of the risks and impacts and change in the health of the general economy, including the effects of COVID-19, U.S. global commercial aerospace markets, the U.S. Department of Defense budgets. All forward-looking statements should be considered in conjunction with the cautionary statements contained in our press release and the risk factors included in OmniLite CDAR filings. The company disclaims any obligation to update any forward-looking statement that may be discussed during this call. I'd also like to mention that in addition to reporting financial results in accordance with International Financial Reporting Standards, or IFRS, during our call, we may discuss or reference non-IFRS financial measures, specifically adjusted EBITDA, pro forma adjusted EBITDA, free cash flow, and adjusted cash flow. A reconciliation of these non-IFRS metrics is available and included, if applicable, in our CDAR filings and press release. Lastly, unless noted otherwise, any reference or discussion in our financial metrics are in U.S. dollars. I would now like to turn the call over to Dave Dave?

Thanks, Amy. Good morning, everyone, and thanks for joining us. I'd like to make a few comments about our fourth quarter and full year 2022 performance and provide some preliminary remarks on our first quarter 2023 results, following comments on current business. We ended the busy 2022 year at $11.1 million in revenue, up 93% from our 2021 revenue mark, and ended the year with a strong fourth quarter sales. Our fourth quarter revenue of 3.1 million, up 83% year over year, and consistent with Q3 2022, reflects increasing commercial aerospace and defense electronics. Our ending backlog of 3.7 million represents another strong quarter with increases in casting products for both new industrial products and core aerospace engine components. The 2.9 million in year-end bookings was consistent with Q3 2022, and included new titanium, aerospace forging, and new industrial casting products. From a revenue and bookings perspective, Q4 results were directly in line with our organic growth targets, and that's based on the composition of mature product increases and new product starts, which is a good barometer for us. From a profitability point of view, our Q4 results were not representative of our profitability targets, but a reflection of our investment in business improvement initiatives in castings and new product engineering in castings and titanium forging. The business systems deployed in castings operations have driven positive product rationalization and supporting the high demand for precision castings in current and anticipated future environments. If you look at the first quarter of 2023, revenue is 2.7 million, which represents a 13% increase year over year and another $3.2 million in bookings, leaving the Q1 2023 backlog over $4.1 million. Underlying this revenue in bookings activity has been nearly a 50% increase in revenue quoting on a year-over-year basis, which is an indicator of pointing towards continued growth. Drivers for this business activity is a combination of growing demand for our precision aerospace metal components and highly integrated defense electronics, and our specialized industrial forging and castings across the board. So with that, I'd like to turn the call back over to Amy. Amy?