Thank you for standing by. At this time, I would like to welcome everyone to today’s Hamilton Beach Brands Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions]. So without further ado, I would like to turn the call over to Brendan Frey, partner with ICR. Brendan, you have the floor.

Thank you, Greg. Good morning, everyone, and welcome to the fourth quarter 2024 earnings conference call and webcast for Hamilton Beach Brands. Earlier today, after the stock market closed, we issued our fourth quarter 2024 earnings release, which is available on our corporate website. Our speakers today are Scott Tidey, President and CEO and Sally Cunningham, Senior Vice President, Chief Financial Officer and Treasurer. Our presentation today includes forward looking statements. These statements are subject to risk and uncertainties that could cause actual results to differ materially from those expressed in either our prepared remarks or during the Q&A. Additional information regarding these risks and uncertainties is available in our 10-Q, our earnings release and our annual report on Form-10k for the year ended December 31, 2023, and soon-to-be filed Form 10-K for the year ended December 31, 2024. The company disclaims any obligation to update these forward looking statements, which may not be updated until our quarterly conference call. Our next quarterly conference call, if at all. The company will also discuss certain non-GAAP measures, reconciliation for regulation G purposes can be found in our earnings release. And now I will turn the call over to Scott. Scott?

Thank you, Brendan. And good afternoon, everyone. Thank you for joining us today. We are pleased with our fourth quarter results, which represented a solid finish to a successful year. Our Q4 performance was highlighted by low single-digit growth and profitability that exceeded our expectations. Importantly, we maintained strong gross margins north of 26%, despite a promotionally driven market environment during the holidays as consumers remain selective with discretionary spending. These achievements reflect our team's focus on operational excellence as we continue to drive top line expansion while maintaining the incremental leap in gross margin we've taken this year. Looking at our full year performance, I'm very proud of our team's accomplishments. We delivered strong financial results across our key metrics. Revenue increased mid-single digits, driven by successful new product launches and new points of distribution. We expanded gross margins by 300 basis points and grew operating profit 23%. Our focus on operational efficiency and working capital management yielded strong cash flow results as well. We generated more than $65 million in operating cash flow, which speaks to the underlying strength of our business model and our team's execution. This robust cash generation, combined with our disciplined approach to capital allocation, allowed us to end 2024 in a net cash position, a significant achievement that was accomplished while continuing to return value to shareholders through both share repurchases and our dividend program. Along with these strong operating results, we took decisive action to add new opportunities to our growth plans, led by further expansion into the healthcare market through our acquisition of HealthBeacon last February. We also took steps to diversify our manufacturing and sourcing to further reduce our exposure to China. This work was not only additive to our 2024 performance, but has positioned the company to maintain its…

Great. Thank you, Scott. Good afternoon, everyone. Starting with our fourth quarter 2024 results compared to the fourth quarter of 2023. As Scott mentioned, we were pleased to deliver a solid finish to an outstanding year. Starting with revenue. Total revenue in the fourth quarter was $213.5 million, a 3.3% increase over last year's fourth quarter. The increase was driven primarily by a favorable product mix as well as higher volume, partially offset by expected average price decreases and foreign currency impacts. Regionally, our North American market -- North American consumer markets delivered solid growth with most strength coming from the US consumer market. These gains were partially offset by revenue declines internationally. Also included in the fourth quarter was $1.7 million of revenue from our HealthBeacon acquisition. Turning to gross profit and margin. Gross profit was $55.8 million in the fourth quarter compared to $55.3 million in the year ago period. Gross profit margin was 26.1% compared to 26.8% of the total revenue in last year's fourth quarter. The contraction in gross profit margin in the current quarter was expected as we recently reduced prices on certain products after realizing the benefits of lower costs that positively impacted margins starting in the fourth quarter of 2023. We have made significant progress expanding gross margins as evidenced by the step change from our historical range, which was in the low 20% range just a couple of years ago to consistently in the mid-20s over the past several quarters. Selling, general and administrative expenses increased $32.1 million compared to $30.2 million in the fourth quarter of 2023. The increase was primarily driven by the addition of $2.1 million of HealthBeacon expenses, partially offset by slightly lower employee-related expenses. Operating profit was $23.6 million compared to $25 million in the fourth quarter…