Good afternoon, my name is Erin and I will be your conference operator today. At this time, I would like to welcome everyone to the Aspen Aerogels Q1 2016 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. John Fairbanks, you may begin your conference.

Good afternoon. Thank you for joining us for the Aspen Aerogels first quarter conference call. I’m John Fairbanks, Aspen’s CFO. Now, before turning the call over to Don Young, Aspen's President and CEO, there are a couple of housekeeping items that I would like to take care of. First, we'll take questions at the end of our prepared remarks, and as Erin indicated, an archived version of this webcast will be available in the Investor's section of Aspen's website, www.aerogel.com. Press release announcing Aspen's first quarter 2016 results, and business developments, as well as a reconciliation of management's use of non-GAAP financial measures as compared to the most applicable GAAP measures is available on the Investors section of Aspen's website. There you will also find a summary statement of operations, a summary balance sheet, and a summary of key financial and operating statistics for the quarter, and the year. Please note, that our discussion today will include forward-looking statements, including any statements regarding outlook, expectations, beliefs, projections, estimates, targets, prospects, business plans, and any other statement that is not a historical fact, and such statements are subject to risks and uncertainties. Aspen Aerogels' actual results may differ materially from those expressed in the forward-looking statements. A list of factors that could affect the company's actual results can be found in Aspen's press release issued today and are discussed in more detail in the reports Aspen files with the SEC, particularly in the company's most recent annual report on Form 10-K. The company's press release issued today and filings with the SEC can also be found in the Investor's section of Aspen's website, www.aerogel.com. The forward-looking statements made today represent the company's views as of today, May 5, 2016. Aspen Aerogels disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. During this call, we will refer to non-GAAP financial measures including adjusted EBITDA. These financial measures are not prepared in accordance with the U.S. Generally Accepted Accounting Principles or GAAP. These non-GAAP financial measures are not intended to be considered in isolation or as a substitute for results presented in accordance with GAAP. The definitions of and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, and a discussion of why we present these non-GAAP financial measures is available on today's press release, which is also available on the Aspen website. I'll now turn the call over to Don Young, President and CEO of Aspen Aerogels.

Thank you, John. Good afternoon. Thank you for joining us for our Q1 2016 earnings Call. I will provide comments about the business and our performance; and John Fairbanks, our CFO, will present financial details for the first quarter and our guidance for 2016. We will conclude the call with a Q&A session. I'd like to start with a recap of the first quarter. The quarter played out largely as we had anticipated and was marked by strong growth in revenue, volume, gross profit and adjusted EBITDA. Overall, revenue grew by 40% and there were several noteworthy commercial highlights. Our revenue in Asia more than doubled to $14.6 million. This exceptional growth reflected continued success in both hot and cold applications in multiple countries across the region and included the expanded scope of the South Asia petrochemical project that we have been supporting since early 2014. We also substantially completed shipments during the quarter to our first significant LNG project with PTT Thailand. On the subject of the LNG business, we anticipate receipt of the second major LNG order later in 2016. At that point in time, we will have had two major LNG project wins and participated in maintenance work in nearly two dozen LNG facilities around the world. This work will represent an excellent portfolio of case studies, which we believe will lead to continue to hit success in this important market. First quarter revenue in our revitalized building materials market more than quadrupled to $2.7 million. As we’ve discussed we curtailed our building materials initiative after 2013 when we were running short on production capacity and chose instead to focus on our energy infrastructure opportunities. We have now reengaged with our European Partners and are targeting specific niches within the building materials market that we believe provide…

Thanks, Don. As Don highlighted during his comments our financial performance during the first quarter was solid and keeps us on track to deliver 2016 results in line with our guidance. Total revenue grew 40% versus the first quarter of 2015 and contributed to strong growth in gross profit, adjusted EBITDA and earnings per share. This performance was driven by an increasingly diverse base of demand, volume growth supported by our third production line and improvements in manufacturing productivity. I’d like to start by running through our reported financial results for the first quarter at a summary level. First quarter total revenue grew 40% year-over-year to $32.8 million. First quarter gross profit grew 45% year-over-year to $6.5 million. First quarter GAAP net loss was $1.8 million or $0.08 per share versus a net loss of $2.8 million or $0.12 per share in the first quarter last year. And adjusted EBITDA for the quarter nearly tripled the $2 million this year versus $734,000 a year ago. We defined adjusted EBITDA has net income or loss before interest, taxes, depreciation, amortization, stock-based compensation expense and other items that we do not believe are indicative of our core operating performance. I will now provide additional detail on the components of our results. First, I will discuss revenue. First quarter total revenue is comprised of product revenue of $32.3 million and research services revenue of $535,000. During the quarter, product revenue increased 39% versus last year. This growth was due to strong demand in the petrochemical market in Asia, a significant subsea project and resurgent demand in the building materials market in Europe. We also substantially completed deliveries on our first large scale LNG project during the period. During the first quarter, we shipped 11.8 square feet of aerogel blankets, which represented growth of…

There are no questions at this time. I turn the call back over to Mr. Young.

Thank you, Erin. We appreciate your interest in Aspen Aerogels, and we look forward to reporting our second quarter results to you in early August. Have a good evening. Thank you.