Please stand by your program is about to begin. Welcome to the Geospace Technologies First Quarter 2022 earnings conference call. Hosting the call today from Geospace is Mr. Rick Wheeler, President and Chief Executive Officer. He is joined by Robert Curda, the company's Chief Financial Officer, and Mark Tinker, CEO of Geospace subsidiary Quantum Technology Sciences. Today's call is being recorded and will be available on the Geospace Technologies Investor Relations website following the call. At this time, all participants have been placed in a listen-only mode and the floor will be open for your questions following the presentation. . We ask that you please pick up your handset to allow optimal sound quality. And it's now my pleasure to turn the floor over to Rick Wheeler. Sir, you may begin.

Thank you, Britney. Good morning and welcome to Geospace Technologies Conference call for the 1st Quarter of our 2022 fiscal year. I'm Rick Wheeler, the company's President and Chief Executive Officer, and I'm joined by Robert Curda, the company's Chief Financial Officer. Also with us this morning is Dr. Mark Tinker, CEO of our Quantum Technology Sciences subsidiary. I'll first give an overview of the first quarter, and Robert will follow that with in-depth commentary on our financial performance. After a few last remarks, we'll open the line for questions that Robert, Mark, and I will try to answer. Some of today's comments may be forward-looking as defined in the Private Securities Litigation Reform Act of 1995. This includes comments about markets, revenue recognition, planned operations, and capital expenditures. Such statements are based on our present awareness with actual outcomes affected by factors and uncertainties we cannot predict or control. Both known and unknown risks can lead to performance and results that differ from what we say or imply today, such risks and uncertainties include those discussed in our SEC Form 10-K and 10-Q filings. For convenience, we will link a recording of this call on the Investor Relations page of our geospace.com website. I encourage everyone to browse this site to learn more about Geospace and our products. Note that the information we record this morning is time-sensitive and may not be accurate at the time one listens to the replay. So yesterday after the market closed, we released our financial results for the first quarter of fiscal year 2022. The three months ended December 31st 2021 reflected a decrease in revenue of $10 million from last year's first quarter. However, last year's results were bolstered by $8 million received on our contract with the U.S. government to provide…

Thanks, Rick. And good morning. Before I begin, I'd like to remind everyone that we will not provide any specific revenue or earnings guidance during our call this morning. In yesterday's press release, our first quarter ended December 31st, 2021. We reported revenue $18 million compared to last year's revenue of $28.5 million. Our net loss for the quarter was $6.8 million or $0.52 per diluted share compared to the first quarter of last year's net loss of $1.1 million or $0.08 per diluted share. A breakdown of our Oil and Gas Market segments is as follows. Our traditional product revenue for the three month period ending December 31st, 2021 was 600,000, a decrease of 41% compared to the revenue of one million less last year. The decrease in revenue is due to lower demand for to remit traditional seismic sensor products. We expect continued low levels of demand for these products and other traditional seismic products and services, until seismic exploration activity increases and there is a depletion of underutilized seismic equipment owned by our customers. Our wireless product revenue for the quarter was $8.7 million, a decrease of 26% compared to revenue of $11.7 million last year. The decrease in revenue is due to lower demand for our OBX Knotel products, partially offset by higher utilization of our rental fleet. Q1 2022 revenue includes the sale of about 1700 OBX Knotel to a former lessee, while the same period of the prior year included a similar transactions for 7,500 OBX Knotels. Our reservoir product revenue for the first quarter was 336,000 compared to 29,000 for the same period last year. The increase in revenues due to higher demand for engineering and field services. We do not expect meaningful revenue for these products until we are engaged in a…

Thank you, Robert. As fiscal year 2022 progresses, our Oil and Gas Market segment will continue to face near-term commercial challenges that are difficult to forecast amidst today's uncertainties. Looking longer term, PRM system opportunities for this segment are in active discussion and do remain very promising. And we will continue to ensure that the terms and conditions for pursuing such projects contain appropriately balanced risks. Regarding our Adjacent Market segment, we are excited about the performance of this segment and its consistent path of revenue growth. These results give significant validation to our strategic moves to diversify our business and create revenue alternatives to our Oil and Gas product lines. Additional revenue alternatives reside in our Emerging Market segment, where the advanced security and intelligence gathering systems developed with our Quantum subsidiary are providing unique solutions to the U.S. Border Patrol. And these benefits are equally extendable to other government entities. We are also making headway in the migration of Quantum's SEDAR system technology for use in monitoring carbon capture and storage operations. This can open new revenue opportunities within our Oil and Gas Market segment. The advanced capability of these systems could well position us as the technological leader for monitoring operations in this unique developing market of carbon capture and storage. This concludes our prepared commentary. And so now I will to turn the call back over to Britney for questions. Are you there, Britney? End of Q&A: Well, with that, I guess we'll end our call. So we'll be looking forward to our second conference call for the second quarter of fiscal year '22. Thanks and goodbye.