Greetings, and welcome to the Dynamic Materials Corporation 2012 second quarter conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator Instructions). As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Geoff High of Pfeiffer High Investor Relations. Thank you, Mr. High, you may begin. Geoff High – Pfeiffer High Investor Relations: Thank you, Pedro. Good afternoon, and welcome to Dynamic Materials third quarter conference call. Presenting on behalf of the company will be President and CEO, Yvon Cariou, Chief Operating Officer and incoming CEO Kevin Longe and Senior Vice President and Chief Financial Officer Rick Santa. I’d like to remind everyone that matters discussed during this call may include forward-looking statements that are based on management’s estimates, projections and assumptions as of today’s date and are subject to risks and uncertainties that are disclosed in Dynamic Materials’ filings with the Securities and Exchange Commission. The company’s business is subject to certain risks that could cause actual results to different materially from those anticipated in its forward-looking statements. Dynamic Materials assumes no obligation to update forward-looking statements that become untrue because of subsequent events. A webcast replay of today's call will be available at Dynamicmaterials.com after the call. In addition, a telephone replay will be made available beginning approximately two hours after the conclusion of the call. Details for listening to today's replay or webcast are available in today's news release. And with that, I'll now turn the call over to Yvon. Yvon Cariou – CEO, President: Thanks, Geoff, and welcome everyone, particularly those of you who are on the East Coast who are able to come with us today. Our third quarter sales of approximately $50 million were in…

Thanks, Yvon, and good afternoon everyone. Let me begin by saying how pleased I am to have joined Dynamic Materials. And to have been selected to lead the company into the next phase of its corporate evolution. When I was first approached about the opportunity, I quickly learned what a unique and successful business Yvon and his team have built over the years. Very few small companies have established such a strong international presence with two distinct businesses, one of which is a worldwide leader in its sector. Another aspect I found intriguing was the prospect of leveraging DMC's global manufacturing and distribution infrastructure to build a larger, more diversified company serving international energy and infrastructure markets. I've spent most of my career leading industrial manufacturing businesses. And many of them operated in the same domestic and overseas markets in which DMC currently does business. I believe my background and knowledge of these markets will prove valuable as we work to expand DMC's revenue base, leverage its fixed assets, and enhance shareholder value. I've been working closely with Yvon, our management team, and board of directors to advance DMC's roadmap for the future. We look forward to sharing it with you as it is crystallized in the coming quarters. I'll now turn the call over to Rick for a review of our third quarter financial performance. Rick.

Thanks, Kevin and good afternoon everyone. Sales for the third quarter came at $50.1 million, which was down 9% from the third quarter last year. This decline reflects the timing of shipments out of our Explosion-welding backlogs as well as the dip in demand for perforating equipment from our oil field products business. Gross margin came in at 31%, which was better than the 29% we had previously forecast. Operating income was $5.2 million versus $5.7 million in the third quarter a year ago. Net income was $3.8 million or $0.28 per share versus $4.3 million or $0.32 per share in the year ago third quarter. Adjusted EBITDA was $9 million versus $9.6 million in the same quarter last year. We continued to deliver strong improvements in our operating cash flow, which at the nine month mark increased to $12.5 million versus $2.3 million in last year's nine month period. Again, the improvement is largely due to investments made last year and building up inventories in our oil field products business. Turning to expenses, G&A increased by 7% to $4.7 million from $4.4 million in the third quarter last year. Salary and distribution costs increased 19% to $4 million from $3.4 million in last year's third quarter. Combined third quarter SG&A of $8.7 million was a bit below our forecast of quarterly SG&A during 2012 of approximately $9 million. Amortization of purchase in tangible assets during the third quarter was $1.5 million and in line with our forecast. Turning to our balance sheet, total current assets have increased to $104.9 million from $91.2 million at December 31st, 2011. Total assets have advanced to $235.8 million from $213.4 million over the same period. The significant increase is due in part to our first quarter acquisition of TRX Industries, which added assets…

(Operator instructions). Thank you. Our first question is from Mr. Avinash Kant with D.A. Davidson. Please go ahead with your question. Taryn Kuida – D.A. Davidson & Co.: Good afternoon, gentlemen. This is Taryn filling in for Avinash. Yvon Cariou – CEO, President: Hey, Taryn. Taryn Kuida – D.A. Davidson & Co.: Hi. I was just wondering, of the down order vision in the guidance, which components is it specifically coming from and if you could kind of break it down by each segment? You kind of mention Explosion Clad, but… Rick Santa – SVP, CFO: You know, we generally haven’t provided revenue guidance for each of our three business segments. Taryn Kuida – D.A. Davidson & Co.: Okay. Okay, and then of the Oilfield, I notice that Oilfield has moderated, is this more of a seasonal or do you expect it to – and do you expect it to recover in Q4 and/or see it growing in 2013? Rick Santa – SVP, CFO: Yeah, the Oilfield market has weakened in the U.S., you know, in Q3 and we expect it to remain, you know, somewhat weak in Q4 relative to where it was in the first and second quarters of this year. You know, globally, you know we believe the market for our products will hold up quite well. Taryn Kuida – D.A. Davidson & Co.: Okay. And you said that Oilfield product segments kind of decline due to – or due the rig count decline in the U.S. and Canada. I was just wondering how much of your Oilfield business is driven by Canada and the U.S. because worldwide rig counts seem to have picked up for the quarter. Rick Santa – SVP, CFO: You know, generally it can fluctuate a little bit from quarter to quarter, especially if we have, you know, a large tender order that we ship as we did early this year in Q1. But typically, 50, 55, 60% of our total Oilfield product sales are North America. Taryn Kuida – D.A. Davidson & Co.: Okay, thank you. And then turning to Explosion Clad, how much of the business was from oil and gas and qualitatively, do you expect sequential uptick in bookings for Q4? Yvon Cariou – CEO, President: You know, traditionally the past quarters, oil and gas has been the lead sector for us, particularly [inaudible], but we also should note the chemical industry has been pretty good. Based on our quoting activity, we, of course, every quarter I expect to do better than the past one, we’ve been reporting this to you guys for quite some time. Quoting activity is healthy. Oil and gas, upstream; chemical, Asia, Middle East and – but it’s very hard to predict with certainty when some of those projects will turn into bookings. Taryn Kuida – D.A. Davidson & Co.: Okay, perfect. That’s it for me. Thank you.

Thank you. Our next question is from Mr. Phil Gibbs with KeyBank Capital Markets. Please go ahead. Phil Gibbs – KeyBanc Capital Markets: Hey, good evening. How is everyone? Yvon Cariou – President, CEO: Hello, Philip. Kevin Longe – CEO Designate: How are you, Phil? Phil Gibbs – KeyBanc Capital Markets: Welcome, Kevin. Kevin Longe – CEO Designate: Thank you, Phil. Phil Gibbs – KeyBanc Capital Markets: I just had a question for Kevin right off the bat, not to necessarily put him on the hot seat, but Kevin, given your international background, you know, how do you see yourself fitting into the culture and what may you be adding to the table from a vision perspective in so much that your background could provide for the company? Kevin Longe – CEO Designate: Well, I think from an international perspective I’ve always operated in global markets and these are complex niche businesses in global markets, which is a good fit from an operating standpoint and also from a cultural standpoint. And what I hope to do is take our current business platforms and use those as platforms and define our businesses at a broader level, which can create growth opportunities in the different perspective and markets that we participate in. Phil Gibbs – KeyBanc Capital Markets: Okay. Thank you for that. Rick, do you know the question I’m going to ask now? Rick Santa – SVP, CFO: You want to know the margin breakdown – gross margin breakdown by business segment. Phil Gibbs – KeyBanc Capital Markets: I would. Rick Santa – SVP, CFO: Would you like the quarter to date first or the year to date first? Phil Gibbs – KeyBanc Capital Markets: No, just the quarter is fine. Rick Santa – SVP, CFO: Okay. Phil Gibbs – KeyBanc…

(Operator Instructions). There are no further questions at this time. I would like to turn the floor over back to Yvon Cariou for closing comments. Yvon Cariou – CEO, President: Well, thanks for joining us to this call. We recognize that a lot of you, including many employees of DMC live and work on the East Coast and have been dealing with an extremely serious weather situation. We want you to know that all of you are in our thoughts as you weather the storm and [inaudible]. Please be safe and we’re looking forward to talk to you next quarter. Thank you.

This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.