Greetings. Welcome to AstroNova Fourth Quarter Fiscal Year 2026 Financial Results Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to Deborah Pawlowski, Investor Relations for AstroNova. Thank you. You may begin.

Thank you, and good morning, everyone. We appreciate your interest in AstroNova, and thank you for taking the time to join us today. With me on the call are Jorik Ittmann, our President and Chief Executive Officer; and Tom DeByle, our Chief Financial Officer. You should have a copy of the earnings release that crossed the wires after market closed yesterday as well as the slide deck that will accompany our conversation today. If you do not, you can find both documents on the Investor Relations section of our website at astronovainc.com. Please turn to Slide 2 for our cautionary statements. As a reminder, during this call, we may make some forward-looking statements about our current plans, beliefs and expectations. These statements relate to future events and results and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied today. These risks and uncertainties are described in today's earnings release and in our filings with the Securities and Exchange Commission, which are available on our website and at sec.gov. We do not undertake any obligation to update these forward-looking statements. We also will be referring to certain non-GAAP financial measures. We believe these measures provide investors with additional insight into our core operating performance. However, they should not be considered in isolation or as a substitute for GAAP results. Reconciliations of non-GAAP to GAAP measures are included in the tables that accompany both today's release and the slide presentation. With that, please turn to Slide 3, and I'll hand the call over to Jorik to discuss the quarter and our progress. Jorik?

Thank you, Debbie, and good morning, everyone. We appreciate you joining us today. As we said on my first conference call reporting the second quarter of fiscal 2026, we expected the second half to perform better than the first half of the year. The second half of fiscal 2026 was a reset period for AstroNova, and our results reflect the early benefits of the changes we have made across the business. We entered the year with a focus on stabilizing the company, improving cash generation, reducing debt and raising accountability across both segments, and we delivered against those priorities. Operationally, the Product Identification turnaround is gaining momentum. In the Product ID, we're executing against a clear go-to-market and operational strategy. By applying more robust analytics to understand our value proposition and where we have the best opportunity to win, we have a clearer view of where we are the stickiest with our customers. Our products and full-service capability are appreciated in these applications. We have focused our sales resources to better address these markets, which has entailed changes in talent and structure. Operationally, we are addressing productivity and efficiencies to strengthen our competitive position while also to support a stronger margin profile. Our Aerospace business continues to perform well. We are benefiting from a favorable product mix and a strong demand for our ToughWriter solutions. We had a very strong order quarter and have several tailwinds that should continue to benefit the business. Importantly, we exited the year with a solid backlog in both segments, providing a good visibility heading into fiscal 2027. As you know, we announced that the Board is evaluating a range of potential strategic alternatives, which may include, among other things, a sale of all or part of the company, a strategic investment, a merger or…

Thank you, Jorik, and good morning, everyone. Fourth quarter revenue was $37.5 million, up $0.2 million compared with the prior year period as growth in our Product ID slightly more than offset our lower Aerospace revenue. Tariff mitigation actions contributed approximately $0.6 million to revenue in the quarter, and the foreign currency translation provided a $0.8 million benefit. For the full year, revenue was $150.5 million compared with $151.3 million last year. As Jorik noted, second half revenue grew nearly 4% over the first half, and the demand we are building from our sales efforts supports our expectation for mid-single-digit growth in our fiscal 2027. Please turn to Slide 5. Gross profit for the fourth quarter was $11.3 million and gross margin was 30.2%, reflecting a contraction of 250 to 260 basis points year-over-year, primarily to lower volume and mix. On a non-GAAP basis, gross profit was $11.9 million and non-GAAP gross margin was 31.7%. It is also worth noting that the second half gross profit increased 8% and margin expanded 130 basis points. Given our size, quarter-to-quarter comparisons can sometimes mask the changes occurring in the business, and we believe the trailing periods since our second half reset provide a better view of the progress we are making with our strategy. Turning to Slide 6. Last year's fourth quarter was impacted by a $13.4 million goodwill impairment charge, which makes the year-over-year comparison less meaningful. Here, too, the first half and second half comparison is more realistic. Under new leadership, we had $1.3 million in operating profit in the second half of fiscal '26 compared with the loss in the first half. On a non-GAAP basis, operating profit grew by more than 90% and operating margin expanded 220 basis points. Turning to Slide 7. You can see our adjusted…

Thanks, Tom. Let me reiterate that fiscal 2026 was a foundational reset year for AstroNova, particularly in the second half of the year. Across the organization, we have been driving culture change around customer centricity and transparency, disciplined, data-driven decision-making at the time we are simplifying operation, containing costs and refining our organizational structure to support continued improvement in execution. We have spent the last 6 months positioning AstroNova for improved and more sustainable performance. Looking ahead, for fiscal 2027, we expect mid-single-digit revenue growth and expansion in adjusted EBITDA margin. In Aerospace, we anticipated measured top line growth supported by rising aircraft utilization and favorable shift in product mix and the expiration of a major royalty obligation in the third quarter of fiscal 2027, which will provide an approximate $2 million annualized contribution to gross profit beginning in the fourth quarter. In Product ID, our focus is on converting our growing commercial pipeline into consistent revenue growth while continuing to improve operational performance and profitability. As we navigate this next phase, we remain committed to create value for our shareholders. This includes evaluating all strategic alternatives that can enhance that value, as I discussed earlier. With a more disciplined operating model, a stronger balance sheet and attractive opportunities across both segments, we believe AstroNova is on a path to deliver stronger and more resilient performance over time. With that, operator, we're ready to open the line for questions.

[Operator Instructions] There are no questions at this time. I would like to turn the conference back over to management for closing remarks. Thank you. This will conclude today's conference. You may disconnect at this time, and thank you for your participation.