Good day and welcome to the Acorn Energy's Third Quarter 2016 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please also note this event is being recorded. I would now like to turn the conference over to Mr. Michael Barth, CFO of Acorn Energy. Please go ahead.

Thank you for joining us on today's call. With me are Jan Loeb, Acorn CEO; and Walter Czarnecki, President and COO of OmniMetrix. Before we begin, please remember that many of the statements made on today's prepared remarks or in responses to your questions are forward-looking. These statements are subject to various risks and uncertainties. In particular, the performance of our businesses in 2016 and future years is subject to various risks and uncertainties including risks associated with executing Acorn's new operating strategy, meeting performance milestones; risks associated with conducting business with government customers including possible costs overruns on fixed price projects, and success in driving growth in the Company's core business. Such forward-looking statements are based on management's beliefs as well as assumptions made based upon information currently available to management pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. There is no assurance that Acorn or its operating companies will be able to achieve its goals for growth in 2016 and future years. The company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made. A complete discussion of the risks and uncertainties which may affect Acorn Energy and our subsidiaries is included in the Risk Factors in the Company's Form 10-K filed by the Company with the Securities and Exchange Commission. And with that, I will hand the call over to Jan Loeb, Acorn's CEO. Jan?

Thank you, Michael, and thank you all for joining today's call. I will begin by providing an overview of Acorn to those who are new to the Company. I will then review highlights of the quarter, the progress of our strategic repositioning and how we see the Company moving forward. Then Michael will review our third quarter and year-to-date financial results before opening to your questions. Acorn's primary operating subsidiary is OmniMetrix which provides systems that offer wireless remote monitoring and control for stand by generators, pipelines and other critical equipment. Their customers include companies that on cell towers, medical facilities, data centers, urban transportations systems, federal, state and municipal government facilities as well as critical residential and other industrial assets. Monitoring validates the status of fewer other operating factors and therefore helps reduce operating expenses, insures regulatory compliance and protects against emergencies. Remote monitoring control is a highly scalable business with attractive margins and recurring revenue streams. For OmniMetrix, demand is led by gas utilities, pipeline companies, refineries and other businesses needing to more efficiently monitor and manage their infrastructure network. Asset intensive businesses are constantly looking for ways to become more efficient and improve the operation of their infrastructure which our OmniMetrix products provide. In addition, Acorn holds a 41.2% interest in Israel-based DSIT Solutions. We account for that under the equity method of accounting. DSIT is a global leader in the development and production of sonar applications for the defense, online security, energy and commercial markets. DSIT posses a world-class multi-disciplinary team of professionals that are skilled in the latest sonar and real-time technologies that are gaining in relevance given changes in the global political landscape, its products include Diver Detection Sonar, Anti-Submarine Warfare and Hull Mounted Sonar systems, Portable Acoustic Ranges, Underwater Acoustic Signal Analysis applications…

Thank you, Jan. Given the strategic moves that we have made to the business, our financial reporting and comparability to prior periods have been impacted significantly. Our year-to-date 2016 financial results reflect the impact of the sales of a portion of our ownership in DSIT in April 2016. The subsequent deconsolidation of DSIT from Acorn consolidated financial statements as well as the sale of assets of the GridSense business in July. Reflecting these factors, Acorn's 2016 third quarter revenue decreased to $942,000 from $4.4 million in the third quarter of 2015 and revenue for the first nine months of 2016, decreased to $7.6 million from $12.2 million in 2015. Selling, general and administrative expenses declined to $1 million in the third quarter of 2016 from $2.4 million in the third quarter of 2015. Our selling, general and administrative expenses for the first nine months of 2016 declined to $4.8 million from $7.2 million in 2015. These reductions primarily reflect the impact of the deconsolidation of the DSIT as well as the ongoing cost reductions. Corporate general and administrative expenses declined to $365,000 in the third quarter of 2016 from $912,000 in the third quarter of 2015. For the first nine months of 2016, corporate G&A decline to $1.8 million from $2.8 million in the comparable 2015 period. Decreases reflect reduced professional fees and salaries as well as significant cuts made in director's fees beginning in the first quarter of 2016. Third quarter results included income from discontinued operations as $1,187,000 or $0.04 per share both for basic and diluted primarily from the sales of GridSense assets. Acorn reported net income attributable to the shareholders of $652,000 or $0.02 per share both basic and diluted in the third quarter of 2016, compared with the net loss of $2.8 million or $0.10…

[Operator Instructions] And our first question comes from Michael Oserer of UP Systems. Please go ahead.

Are all the filings currently up-to-date with regards to ACFN?

Yes, we filled our 10-Q about an hour ago.

I see, okay. Thank you.

[Operator Instructions] I'm showing no further questions at this time. This concludes our question and answer session. I would like to turn the conference back over to Mr. Loeb for any closing remarks.

Thank you all for your interest in Acorn. I am eager to speak with shareholders and potential investors who have question who would like to get to know more about management and our goals. I ask that you please coordinate such call such calls with our Investor Relations team. The contact information on today's press release and they are available to shareholders with most issues. Now with that operator, we will end today's call. Thank you very much.

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.