Ladies and gentlemen, thank you for standing by. Welcome to IRadimed Corporation Second Quarter 2019 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded today, July 30, 2019, and contains time-sensitive information that is accurate only as of today. Earlier, IRadimed released financial results for the second quarter 2019. A copy of this press release announcing the company's earnings is available under the heading News on their website at IRadimed.com. A copy of the press release was also furnished to the Securities and Exchange Commission on Form 8-K and can be found at sec.gov. This call is being broadcast live over the Internet on the company's website at IRadimed.com, and a replay of the call will be available on the website for the next 90 days. The agenda for today will be as follows: Roger Susi, President and Chief Executive Officer of IRadimed, will present opening comments; then Brent Johnson, IRadimed's Executive Vice President of Worldwide Sales and Marketing, will discuss customer orders; and finally, Chris Scott, IRadimed's Chief Financial Officer, will summarize the company's financial results before opening up the call to questions. Some of the information to be furnished in today's session will constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those focused on the future performance, results, plans and events that include the company's expected results for 2019. IRadimed reminds you that future results may differ materially from those forward-looking statements due to a number of risk factors. For a description of the relevant risks and uncertainties that may affect the company's business, please see the risk factor section of the company's most recent reports filed with the Securities and Exchange Commission, which again may be obtained for free from SEC's website at sec.gov. I would now like to turn the call over to Roger Susi, President and Chief Executive Officer of IRadimed Corporation. Sir, you may begin.

Thank you, operator and good morning. This morning in addition to our usual quarterly operations and performance review, we have an additional important and exciting topic to discuss. But first, I will start will a brief review of our performance in the second quarter. I am very pleased to report that our second quarter revenue was $9.2 million, which is a 25% increase over the second quarter last year. GAAP net income was $0.17 per diluted share, a 51% increase over last year, and non-GAAP net income was $0.20 per diluted share or 42% higher than the second quarter of last year. Our bookings remained strong as our MRI Monitor continues to become a larger contributor to sales volume and we continue to add headcount towards our sales team and implement further enhancements to our sales strategy. Overall, this was a solid on-target quarter, making me very proud of our entire team. Before discussing the business operations, I'd like to spend a few moments discussing the leadership change we announced yesterday afternoon. In yesterday's release, we announced that Leslie McDonnell was elected to serve as Chief Executive Officer, and that I am taking a new role as Chief Technology Officer, while also retaining my role as Chairman of the Board. In Leslie, we have found a highly confident executive with significant medical device experience. He has held leadership positions at Natis [ph], 3M Healthcare and Medtronic. During the search process, Leslie impressed us with her strong strategic vision, and her deep understanding and experiences in all aspects of the medical device industry. The Board and I believe that she is perfect person to lead IRadimed through the next growth phase and beyond. As announced, with this move I will be taking on a newly created role as Chief Technology Officer.…

Thank you, Roger and good morning everyone. Our second quarter orders were strong with an overall year-over-year increase in total worldwide orders of over 30%. This growth in orders show strong support for our current sales strategies and our sales force expansion efforts and we expect these sales execution levels to continue in future quarters. On the domestic side, we saw continued strength in two bookings of IV pumps and in both multi-pump orders and dual-pump orders. Our strategy of targeting the critical care areas of the hospital continue to show how this effort drives the increased demand for MRI IV pump purchases and helps us drive the demand for increased pump channels to handle the multiple critical medications that these patients require. Our critical care strategy is delivering the IV pump growth we need and we expect to see this continued expansion in this area of our business as we grow the number of sales managers we have deployed in the field. The domestic sales team continues to gain expertise with the MRI patient monitor product for better head-to-head results against our competition. Along with this increase in expertise, we've seen the number of MRI patient monitoring sales opportunities increase, which has delivered a strong pipeline of deals for the second half of the year. We've also made great strides in getting the MRI monitor on contract with some of the largest most compliant group purchasing organizations and integrated health delivery systems in the nation. Many of these agreements are dual source agreements with our competitor but are important because they give us the opportunity to compete for the business on an equal foot. We are happy to announce that we have just signed a sole source MRI monitoring agreement with one of the largest IDN in the nation…

Good morning. I will be discussing our financial results on a GAAP basis as well as on a non-GAAP basis. Our non-GAAP operating results exclude stock-based compensation expense and the related tax effects. And frequent tax items are considered based on their nature and excluded from the provision for income taxes as these items are not indicative of our normal tax provision. Free cash flow is cash flow from operations, less cash used for purchases of property and equipment. We believe the presentation of these non-GAAP measures along with our GAAP financial statements; can be helpful in providing a more thorough analysis of our ongoing financial performance. You can find a reconciliation of these non-GAAP measures to the nearest GAAP measure on the last page of today's press release. As Roger stated, revenue increased 25.1% over the second quarter last year. This increase was not isolated to a single product but driven by greater than 20% increases across all line items. Revenue from devices was $6.4 million for the current quarter compared to $5.1 million for the 2018 quarter, a 26.4% increase. Included in revenue from devices for the second quarter of 2019 is $1.8 million in sales of our 3880 monitor compared to $1.5 million for the 2018 quarter, a 22.6% increase. Revenue from disposables and services was $2.3 million for the current quarter compared to $1.9 million for the 2018 quarter, a 21.2% increase. And lastly, revenue from the amortization of our extended maintenance contracts was approximately $500,000 a 26.5% increase over the second quarter last year. Domestic revenue was $7.6 million for the current quarter compared to $5.7 million for the prior year quarter. That's 31.9% increase. Revenue from international sales, which again were impacted by the CE Mark [ph] was $1.7 million for the second quarter,…

Thank you, operator. I'd like to thank you all for participating in today's call. And for your continued support of IRadimed. While I do not intend to participate in future calls on a regular basis, I once again assure you of my continued involvement in IRadimed's activities. By taking on this new role, I will return to what I love the development of innovative medical devices for purposes of increasing patient care. This can only be facilitated by installing a highly competent and highly experienced leader as CEO. We believe we have found such a leader in Leslie McDonnell and I believe you will agree with me once you have had the chance to interact with her. Until then, everyone at IRadimed would like to extend a warm welcome to her and her family. And with that, we look forward to reporting back to you later this year with our third quarter results.

Ladies and gentlemen, thank you for your participation and today's conference. You may now disconnect. Everyone have a wonderful day.