Hello, everyone, and welcome to the Johnson Outdoors' First Quarter 2013 Earnings Conference Call. Today's call will be led by Helen Johnson-Leipold, Johnson Outdoors' Chairman and Chief Executive Officer. Also on the call is David Johnson, Vice President and Chief Financial Officer. [Operator Instructions] This call is being recorded. Your participation implies consent to our recording this call. If you do not agree to these terms, simply drop off the line. I would now like to turn the conference over to Cynthia Georgeson from Johnson Outdoors. Please go ahead, Ms. Georgeson.

Thank you, operator. Good morning, everyone, and thanks for joining us for our discussion of Johnson Outdoors' results for the 2013 fiscal first quarter. If you need a copy of our news release issued this morning, it is available on the Johnson Outdoors' website at www.johnsonoutdoors.com, under Investor Relations. Before I turn the call over to Helen, I need to remind you that this conference call may contain forward-looking statements. These statements are made on the basis of our views and assumptions at this time and are not guarantees of future performance. Actual events may differ materially from those statements due to a number of factors, many of which are beyond Johnson Outdoors' control. These risks and uncertainties include those listed in today's press release and our filings with the Securities and Exchange Commission. If you have additional questions following the call, please contact either Dave Johnson or me. It's now my pleasure to turn the call over to Helen Johnson-Leipold.

Good morning. I hope you've had an opportunity to review our first quarter earnings announcement. I'll start off with comments on the results, provide perspective on the marketplace and outline top priorities for the year. Dave will cover some key financials, then we'll take your questions. We're very pleased with the first quarter performance. Fishing, Camping, Diving, and Paddling equipment markets are seasonal, and the first quarter is when we ramp up for the primary selling period for our products during the second and third quarter. As a result, sales are usually the lowest of the year and we historically post an operating loss. We bucked both trends this quarter, sales increased 9% to over $87 million; operating profit was $1.5 million, a $5.2 million improvement over last year. And despite a higher-than-normal tax rate, earnings per diluted share were $0.02 in the quarter compared to a loss of $0.30 per share in the prior year quarter. Marine Electronics posted record first quarter sales, primarily due to strong growth in Minn Kota, in Cannon and a double-digit increase in sales to U.S. and European distributors during the quarter. We have a great lineup of new products for Marine Electronics this year, for example, Humminbird's 360 Imaging, our new patent pending sonar technology, which won best in show at this year's ICAST. 360 allow anglers for the first time to have a full 360-degree underwater view and to see up to 150 feet in front of their boat. By giving them a look at what lies ahead, anglers can cast to productive areas without spooking the fish. But even more innovative is that unlike other sonar technologies, 360 works whether the boat is moving or not, pretty incredible. And then there's the Minn Kota i-Pilot Link. First, we gave anglers the…

Thank you, Helen. Good morning, everyone. As Helen said, a great start to the year. Now I'm going to start with taxes. The effective tax rate this quarter is high, 59%. The rate as a function of where we make money and where we lose money and whether there's a tax benefit in those countries where losses occur. We expect the rate will go down over the course of the year as we drive more profits during the season. We're also considering a number of other options to benefit and stabilize our tax position on an ongoing basis. One thing I also want to point out is that last quarter, Helen told you we were working to better balance the profit contribution across our portfolio. And this quarter, all businesses have increased profits versus last year, so we're making progress. Now a second big question, what are we doing with our cash? As you know, this quarter, we utilized some of our cash to acquire Jetboil, which is a great complement to our camping portfolio. We know that the success of an acquisition is determined by how well we execute our integration plan, which kicked into high gear immediately after announcement. The key here was a seamless integration with no disruption to either business. The first step was to bring Jetboil employees, who call themselves jet heads, into our Johnson Outdoors family. Help them understand who we are, where we're going and bring them into our comp and benefit program. Now at the same time, a joint Jetboil and Johnson Outdoors team hit the ground running to align systems and processes and start leveraging each brand's distribution and channel strengths to benefit the collective whole. For example, Johnson Outdoors has a distribution center in Canada, which services dealers there. Jetboil…

[Operator Instructions] And our first question is from James Fronda of Sidoti & Company.

Were there any significant, I guess, cost synergies that were realized during the quarter with the Jetboil acquisition? Were you able to do that during the quarter?

Not during the quarter, no.

Okay. So next quarter, you might see some?

We should start to see some. But like I said, James, I think the main value driver here is really the distribution strategies of both companies coming together.

Okay, right, okay. All right. And the growth you're seeing in Marine Electronics, is that majority from all new products?

We usually get the majority of our growth from new products and it is spread over quite a few, but we're also getting growth from our base business as well. So it's been pretty good overall.

Okay. And I guess, just any sense of military sales coming back anytime soon?

No. We have not seen a lot of activity in that arena. And actually, I think we -- it may even be down from where we have projected. So it's a pretty tough area right now.

And with that, I'm showing no further questions. I'd like to turn it back to Helen Johnson-Leipold.

Okay. Well, thanks, everyone, for joining us and I hope we'll see you at our annual shareholder meeting on February 28 in Racine. Thanks for joining us, have a great day.

Thank you, again, ladies and gentlemen, for your participation in today's conference. You may now disconnect. Have a great day.