Thank you for standing by. Welcome to the CorVel Corporation Quarterly Earnings Release Webcast. During the course of this webcast, CorVel Corporation may make projections or other forward-looking statements regarding future events or the future financial performances of the company. CorVel wishes to caution you that these statements are only predictions and that actual events or results may differ materially. CorVel refers you to the documents the company files from time to time with the Securities and Exchange Commission specifically the company's last Form 10-K and 10-Q files for the most recent fiscal year and quarter. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. I would now like to turn it over to Mr. Gordon Clemons.

Thank you. And thank you for joining us to review CorVel's fiscal year 2018 and the March quarter. Revenues for fiscal 2018 were $558 million. Earnings per share were a $1.87. Fiscal year earnings per share increased 24% year-over-year. The March quarter revenues were $143.6 million, 7.5% over the revenue for the March 2017 quarter. Earnings per share for the quarter ended March 31, 2018, were $0.47, an increase of 12% over the same quarter of the prior year. The tax law change helped us in the last two quarters of our fiscal year and will continue to improve earnings going forward. We've had an unusual increase in the healthcare costs of our own employee benefits plan, but expect that to settle down. Additionally, our Case Management business has experienced lower margins primarily due to some internal operations issues with which we are dealing. From a strategic and market perspective, we feel good about our position. Our enterprise comp claims administration service is increasingly well-received and our payment integrity service suite continues to produce results that lead the industry. For these reasons, we are optimistic about the development of new business and expect to improve the internal operations issues that have hampered recent quarter's results. The Workers Compensation markets for Managed Care as well as for claims management remain active and attractive. Our enterprise comp line of full service Claims Management Solutions has benefited from increasing market recognition of our performance advantage and the technologies that support it. Although disruption in healthcare and healthcare insurance is a complex and slow process, it is occurring. In the last decade, the leading player positons in workers compensation for example have changed for the first time in perhaps half a century. Changing the embedded processes and the profitability of disability insurance poses a…

Thank you, Gordon. I'll first discuss our operating results. Patient management includes third- party administration services and traditional case management. Revenue for the quarter was $82.4 million, an annual increase of 12%. The year-to-date fiscal year growth rate for patient management was 9.8%. While the fundamentals of our case management business are healthy, results in this segment of the business fell short of expectations. Margins in our patient management services decreased 11% from the same quarter of 2017. We've made significant progress this past quarter developing and deploying a new suite of analytic tools to facilitate enhanced operational insight into key performance indicators at each level within the operation. It is our expectation that these tools coupled with adjustments to strategic operating parameters and modifications to management business objectives will have a direct and positive impact on margins achieved in our patient management services. The effect of the changes being made will be fully realized over the next two quarters. The momentum in sales of our TPA services which built through 2017 was sustained in the first quarter of the calendar year. The outstanding service and outcomes being delivered with our integrated claims management solution is allowing us to continue to increase market share. Revenue for our network solutions services sold in the wholesale market was $61.1 million for the quarter, an increase of 1.9% from the same quarter of the prior year. Gross profit in the wholesale business was up 2.4% year-over-year. As Gordon noted earlier in the call, our belief from the start of the company was that we would have the best opportunity to differentiate our products and services in the market through the application of technology. We see this being truer today than at any time in our history as the pace at which technology advances…

Thank you. This concludes today's webcast. You may know disconnect your lines at this time.