Greetings, and welcome to L.B. Foster First Quarter 2017 Results Conference Call. At this time, all participants are in a listen-only-mode. A Question-and-Answer Session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is recorded. I would now like to turn the conference over to your host today Judy Balog, Investor Relations. Please go ahead.

Thank you. Good evening, ladies and gentlemen. Thank you for joining us for L.B. Foster Company’s earnings conference call to review the Company’s first quarter 2017 operating results. My name is Judy Balog, and I’m the Investor Relations Manager of L.B. Foster. Hosting the call today is Mr. Robert Bauer, L.B. Foster’s President and Chief Executive Officer. Also on the call is Mr. Christopher Scanlon, L.B. Foster’s Controller and Chief Accounting Officer. We have a first quarter presentation on our website under the Investor Relations tab for those who have online access. This evening, Chris will review the Company’s first quarter financial results. Afterwards, Bob will review the Company’s first quarter performance and provide an update on significant business issues as well as Company and market developments. And then, we will open up the session for questions. During today’s call, our commentary and responses to your questions may contain forward-looking statements including items such as the Company’s outlook for our businesses and markets, cash flows, margins, operating costs, capital expenditures, and other key business metrics, issues and projections. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from statements we make today. These forward-looking statements reflect our opinions only as of the date of this presentation, and we undertake no obligation to revise or publicly release the results of any revisions to these statements in light of new information, except as required by law. All participants are encouraged to refer to L.B. Foster’s Annual Report on Form 10-K for the year ended December 31, 2016, as updated by subsequent items filed with the Securities and Exchange Commission for additional information regarding risk factors that may affect our results. In addition to the results provided in accordance with United States Generally Accepted Accounting Principles, our commentary includes non-GAAP EBITDA statements. A reconciliation of net loss to non-GAAP EBITDA has been included within the Company’s 8-K filing. Statements referring to EBITDA are considered non-GAAP measures, and while they are not intended to replace the presentation of our financial results in accordance with GAAP, Company believes that the presentation of these measures provides additional meaningful information for investors to facilitate the comparison of past, present, and forecasted operating results. Our accompanying earnings presentation reconciles these non-GAAP measures to the corresponding GAAP measure. With that, we will commence our financial review discussion, and I will turn it over to Chris Scanlon.

Thank you, Judy. Net sales for the first quarter of 2017 were $118.7 million compared to $126.3 million in the prior year, a decrease of $7.6 million or 6%. Gross profit margin was 17.9%, a decrease of 110 basis points from the prior year quarter. We experienced margin compression in our Rail and Construction distribution businesses, as well as unfavorable product sales mix in our Transit division, which also negatively impacted gross profit margin. The 6% first quarter sales decline was due to 17.4% decline in the Tubular and Energy Services segment and 12.2% decrease in the Rail Products and Services segment. This was partially offset by 17.1% increase in Construction segment sales. The Tubular and Energy Services sales decline was driven by decreases in all domestic product categories with the exception of the Test and Inspection Services business. Year-over-year precision measurement system sales declined by $6.2 million. This decline was partially offset by 57.4% increase in our upstream Test and Inspection Services division. The Rail sales decline was due to reductions across all domestic product categories including 7.4% decline in Rail distribution, offsetting these decreases were improved global rail technology sales. Our Construction segment sales improved from prior year by $5.4 million or 17.1%. Both our piling products and fabricated bridge products had increased year-over-year sales with piling sales increasing by $3.2 million and fabricated bridge product sales increasing by $3 million. We did experience a decline in precast concrete sales of $739,000 or 8.4%. As a percentage of first quarter 2017 sales, Rail accounted for 47.6%, Construction was 31.4% and Tubular and Energy Services was 21%. Next, I’ll provide some commentary on gross profit at segment level. Starting with Tubular and Energy. Tubular and Energy Services gross profit margin increased by 170 basis points or 11%, it increased…

Thank you, Chris. Hello, everyone. Thank you for joining us today. As I make my remarks, there are two recurring messages that will help you think about our year-over-year performance, as well as set expectations for upcoming quarters. The first message centers around the changing business environment, of which our bookings performance and increasing backlog in the quarter, which were broad based, are the best indicator. I’ll comment on the freight rail and transit rail markets where our orders have outpaced the capital spending projections from end users. And I’ll cover the energy market where an upstream recovery appears well underway and midstream improvement is expected in the coming quarters. The second message is centered around our profit performance where first quarter EBITDA of $5.1 million was $2.1 million above the fourth quarter of 2016 and better than first quarter of last year by $1.1 million on lower sales in 2017. This helps highlight how the changes in our cost structure, which has dominated prior discussions are positioning us to leverage from added volume as market conditions improve. Now for some of the specifics on Q1 results, first quarter demand almost always reflects lower transportation and construction project starts, which tend to ramp up in March or later. Sales volume in the quarter ended slightly better than we were forecasting. However, the upside surprise was the way the shipments rose throughout the quarter as order entry got stronger and ended in March with some real strength. Among the highlights in our sales results is the rebound in our new rail and piling distribution businesses. Together, they were 36% of sales in the quarter as we won some sizable orders and regained share, particularly in the lower margin commodity piling products. As a point of reference, the two product lines averaged…

Well, thank you, operator. Well, I’m going to take that as a sign that we had a pretty clear discussion about how the quarter wrapped up. There were certainly a number of highlights there, I know as we were looking to those folks that joined us today that we did have quite a few people on the call. So, we do appreciate your attention over the course for the last half hour or so. So, thanks for joining us. And we’ll look forward to talking with you next quarter. Thank you very much.

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