Good afternoon, ladies and gentlemen. Welcome to today’s Wireless Ronin Technologies 2009 third quarter earnings conference call. As a reminder today’s call is being recorded. I would now like to conference over to Ms. Linda Hofflander, Please go ahead, ma'am.

Thank you Nancy and welcome everyone to our 2009 third quarter conference call. With me today are James C. Granger (Jim), President and Chief Executive Officer and Darin McAreavey, Vice President and Chief Financial Officer. After brief comments from management, we will open up the call to your questions. Before we begin, please note that the information presented and discussed today includes forward-looking statements, which are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Our actual results in future periods may differ materially and you should not attribute undue certainty to our forward-looking statements. Risk and uncertainties that could cause our actual results to differ from those expressed or implied by forward-looking statements, include those set forth in the cautionary statement session of the Form 10-Q we filed on May 8, 2009. In addition, our comments may contain certain non-GAAP financial measures, including non-GAAP operating loss and non-GAAP gross margin. For additional information, including a reconciliation from GAAP results to non-GAAP measures, how the non-GAAP measures provide useful information and why we use non-GAAP measures, please see the reconciliation section of our press release which appears on our website at www.wirelessronin.com. Now I'd like to turn the call off to Jim, who will discuss our third quarter results.

Good afternoon, everyone and thanks for joining us on today's call to discuss our 2009 third quarter results. As we look back over the third quarter, we have a number of things to discuss starting with third quarter results as well as the recent announcement of our stock offering. The general economy and lack of capital for investment continued to restrain spending on digital signage during the third quarter of 2009. While the third quarter produced a slight increase in sales over the second, it was not the significant snapback we had hoped for. However, the company booked approximately $800,000 of orders for which we are unable to recognize revenue in the period. We consider this momentum late in the third quarter as an encouraging sign. We believe and remain confident that the existing drivers around operational execution and the ability to increase sales as result of implementing our solutions provide an opportunity for a compelling return on investment to our customers. e : KFC has awarded an important project which better positions their organization for large-scale deployment of digital menu boards and while there is some modest revenue to report in the branded retail space in the third quarter, what we are seeing is increased activity in terms of the request for proposals. It is projected that the retail digital signage market is to triple in size by 2013 as they seek alternative means of reaching customers. I will expand upon our client relationships further following a financial update from Darin. Before I hand the call over to Darin, I’d like to mention a few things regarding the financials for the quarter. We continue to see a gross margin increase pointing to a successful business model for the long run. As an example, our actual gross margin dollars more than tripled in comparison to the same period a year ago. This points to the fact that we are emphasizing our valuable software and services versus hardware sales. Our cash burn increased slightly, much of this was due to the timing of collections and a modest increase in development costs as we prepare for 2010. As we had pointed out in past quarters, we continue to position the company for long-term success and we will not jeopardize long-term quality of our best-in-class product offering by cutting necessary investments to the sake of short-term financial results. Finally, we significantly strengthened our balance sheet, having entered into subscription agreements for the sale of $6.7 million of common stock in our registered direct stock offering. With this capital raise, we will be in a position to make additional investments in sales, development marketing and further strengthen our position in the QSR automotive and branded retail markets as well as support our relationship with NEC Display Solutions of America. I will discuss this in further detail later in the call. Now I will like to turn the call over to Darin for an update on third quarter results.

Thanks, Jim. Good afternoon. Today we announced that third quarter revenue totaled approximately $1.1 million compared to $2 million for the same quarter of the prior year. As of September 30 2009, we had received purchase orders totaling approximately $800,000 for which we had not recognized revenue. Although this represents a year-over-year decline of 45%, the actual decline in sales of our proprietary software and services was 34%. Reflected in the prior year’s third quarter results was one transaction totaling approximately $500,000 for the resale of another company’s hardware and software. The remaining decline in revenue was primarily attributable to a slowly recovering automotive industry and a continuing measured rollout of digital signage deployments with our QSR customers including KFC, Aramark and others. However we are starting to see a willingness to commit capital dollars from existing customers and prospects for considering large-scale digital signage deployments. This is evident by an increase in the number of request for proposals, the number of ongoing store pilots and also two new development projects received late in the third quarter. During the first nine months of 2009, our revenues totaled $3.5 million compared to $5.5 million for the same period in the prior year. This represents a 37% decline over the same period in 2008. As mentioned previously, our revenues continue to suffer following the collapse of the automotive industry during the second quarter of 2009 and a continued hesitancy of companies committing to spend capital dollars. However we remain confident that operating efficiencies and [sales] will result from implementing our solutions provide customers with accrued return on investment. We believe that these factors will eventually compel potential clients to make the buying decision and commit capital to these implementations. On a GAAP basis, our third quarter 2009 net loss totaled $2.5 million…

Thanks, Darin. As I previously mentioned, we see encouraging signs for the coming year, as we are starting to see early evidence of companies willing to commit capital dollars to digital signage deployments by the receipt of two significant projects received late in the quarter. Deal flow is up and we continue to manage the business for long -term success. The additional capital from our recent registered direct offering, along with control over expenses, puts WRT in a position to weather the near-term storms while gaining customers for the long term. I would like to highlight a few customers and markets, which illustrate this point. ,: In the United States, it is a growing concept to fill the space between fast food and casual dining. With regard to KFC, we were very excited to have been awarded a significant contract for the development of a new digital menu board web portal for KFC and its franchises. This highly customized tool will be used by KFC corporate and franchises to manage the digital menu board program. This investment shows their ongoing commitment to the digital menu board initiative. In addition, during the third quarter of this year, we have installed and continue to install in all the new and remodeled KFC locations. We continue to work with KFC on their implementation plans for 2010 and will announce those plans as they become clear. Our relationship with Aramark continues to flourish. As our recent press release outlined, Aramark has begun deploying the Burger Studio application we jointly developed. Installs have been completed at the University of Delaware, University of Hartford, Middle Tennessee State, Missouri Western State University and Springfield College and additional locations have been identified and are being scheduled for installation. Aramark has created a repeatable, cost-effective and centrally-managed median network…

(Operator Instructions). We will take our first question from Jay Meier from Feltl & Company. Jay Meier - Feltl & Company: You talked about a lot of your opportunities, Jim with QSRs and I really appreciate some of the additional details about the scope and the size of the opportunities that you guys are currently looking at, but you didn’t talk about NEC really and the potential opportunities there. You’ve hinted at a few in the last conference call. You said there was a specific development that they were interested in doing with you. I wonder if you can give us an update on that.

We are thrilled with our continued relationship with NEC. NEC has introduced WRT to a number of potential customers. There is one very large-scale customer. It hasn’t turned into a sale, yet we are very excited about the proposal stage that we are in. NEC is continuing to work on a new offering that can better bring together advertisers and networks of digital signage screens. They look forward to announcing that initiative here in the near future and we are working with them on enabling that initiative through the adoption and adaption of our core software. While, not a target for us in the digital out-of-home advertising, it is certainly a target for them and it will introduce us to a whole new set of customers. As I said, it already has started out with the good opportunity we are working on with them and we look forward to their announcements in the coming week. Jay Meier - Feltl & Company: It sounds like you’re describing an aggregator situation. Is that a fair characterization of what you think NEC is angling toward?

I’m going to let NEC talk about it and I don’t think we are too far away from their discussion of this opportunity. It is a way of really bringing together advertisers and networks of digital signage to promote the advertising in digital out-of-home. One of the things that we see and there’s some statistics out there which say that agencies and brand marketers plan to increase their digital out-of-home advertising spending through 2009 and into the first half of 2010 and they find that by 2013, the spending on digital out-of-home advertising is going to be more than $4.5 billion of advertising revenue. How we take advantage of that and how we participate in that is the enabling of that to happen in digital signage networks across the country and across the places where NEC would deploy this capability. You’ll see more about that, Jay in the coming weeks and I think it’s quite exciting for NEC and for Wireless Ronin, but probably more importantly, it’s exciting for the opportunity for customers to bring together advertisers and digital out-of-home networks of digital signage. Jay Meier - Feltl & Company: In your relationship with NEC, one of the big highlights was that you’re not going to be handling the hardware in NEC sponsored deals and you to be selling your software and then get [knock] fees beyond that. How should we expect revenue to flow on this NEC opportunity, can you dip your hand there a little bit?

We foresee opportunities and the one opportunity that we are working with them on. This is an opportunity that hasn’t turned into an order or sale yet, but the opportunity would still be exactly that, it would be Wireless Ronin software and initiation services along with network operation fees for the long term, while the hardware to be sold direct hardware and installation services et cetera would be sold directly by NEC That is probably the best model for us. We don’t see ourselves as a hardware company, we see ourselves as a software and services company. Jay Meier - Feltl & Company: We talk about KFC and there’s five screens per site, we can talk about others QSR and maybe it’s not five screens, it maybe just one screen, can you give us an idea of how many screens per site you think of when you look at those, just average when you look at 22,000 sites?

Each one of this is different. You have locations with 17 boards and then you have locations with one. The 22000 sites are for, just remind everyone was customers with which we have ongoing relationships, pilots and/or trials et cetera. Scott, could you aggregate that up and come up with the numbers of screens.

We are doing pilots with three to four QSR initiatives and to tell you how varied it is, one of them is one screen per promotion search menu board, one is six screens and one of those pilots assessing four different initiatives from promo to entertainment to a full menu board. If you want to take an average of the three screens, if you take an average because the one is one screen, but it really varies. When we look at the QSR footprint, the menu board is obviously the number one target, but promotioned in one screen or two screen format and dining room. There’s a lot of areas where people start out initially, it’s not beyond them to rollout one screen and then build from there and the key is scalability. It’s three if you are trying to model. Jay Meier - Feltl & Company: I’m not really trying to model, except just sort of quantify how big the opportunity could be, total addressable market if you think about it that way, right?

That 22,000 just represents the ones that we have pilot or trial or clear line of sight.

(Operator Instructions). And we’ll take our next question from Rick Ryan from Dougherty.

Can you break out the NAC revenue from the service line?

The 493 that we recognized in the quarter, it was roughly a 150.

So, getting close to breakeven in Q3?

Yes, we were pretty close to breaking even in the third quarter, expected to grow positive in the fourth. Rick Ryan – Dougherty: Okay, how much development is needed in RoninCast and is it Q4 or does it stretch into 2010? And what else is needed for those investment dollars?

We are deploying RoninCast. The latest edition of RoninCast is actually out and being used by certain customers. It’s a never ending process, like any good software it never ends. What you are constantly doing is making sure that it’s powerful and strong and meeting the needs and staying one step ahead of the market place which is exactly what we are trying and I think somewhat succeeding to doing. We are going to talk a little bit more in the very near future about the enhancement to RoninCast and kind of outline it from a marketing standpoint, but to be perfectly honest with you, the newest version of RoninCast is already deployed in a couple of locations, but we continue to work on it. Rick Ryan – Dougherty: What was the KFC totaled at the end of Q3?

About $130, it was at one point a $1.127, then we did five stores in the past quarter. So it’s $132 to $133. That’s a moving target now because every new, every remodel comes through and I don’t see them all. They just roll through. Rick Ryan – Dougherty: The large customer you indicated coming through from NEC, is it for their new initiative for their universal ad platform, is it coming from that side or they are looking at something else?

It is the adoption of that, but it also allows that particular customer to take advantage of the full RoninCast software because they have other initiatives that they have, their initiative would be part of the supporting revenue stream for the adoption of this at a broad level.

(Operator Instructions). It appears there are further questions at this time. I’d like to turn the conference back over to our speakers for any additional or closing remarks.

I’d just like to thank everyone for joining us on our call today. We're very exited about going forward and we look forward to reporting our end of year and full-year results early next year. Thank you again.

Thank you, Jim. I'd like thank everyone for his or her participation on today's call. Please remember that today's call has been recorded and will be archived in our Investor Section of our website at wirelessronin.com. Also, this call will be available for replay. Again the dial-in information from domestic and international locations can be found on our website. Thank you and good-bye.

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