Good day, and welcome to the Sypris Solutions Inc. Second Quarter 2012 Earnings Conference Call. Today's call is being recorded. At this time, for opening remarks, I would like to turn the call over to the President and Chief Executive Officer, Mr. Jeffrey Gill. Please go ahead, sir.

Thank you, Melanie, and good morning, everyone. Brian Lutes, Tony Allen and I would like to welcome you to this call, the purpose of which is to review the trends reflected in the company's financial results for the second quarter of 2012. For those of you who have access to our PowerPoint presentation this morning, please advance to Slide 2 now. We always begin these calls with a note that some of what we might discuss here today may include projections and other forward-looking statements. No assurance can be given that these projections and statements will be achieved, and actual results could differ materially from those projected as a result of several factors. These factors are included in the company's filings with the Securities and Exchange Commission. And in compliance with Regulation G, you can access our website at sypris.com to review the definitions of any non-GAAP financial measures that may be discussed during this call. With these qualifications in mind, we'd now like to proceed with the business discussion. Please advance to Slide 3. I will lead you through the first half of our presentation this morning, starting with an overview of the highlights for the quarter, to be followed by a brief discussion of each of our 2 business segments. Brian will then provide you with a more detailed review of our financial results for the quarter. Now let's begin with the overview on Slide 4. We're pleased to report that the company continued to make important progress during the quarter. Revenue increased 16% to $99 million for the quarter, compared to $85.1 million for the prior-year period. Gross profit increased 63% to $13.2 million, reflecting a $5.1 million increase from the second quarter of 2011. Gross margin increased to 13.4%, up 390 basis points from 9.5% in…

Great. Thanks, Jeff. Good morning, everyone. I'd like to discuss with you briefly the highlights of the second quarter and our first half financials. And in that, starting with our Aerospace & Defense segment, and ask you to advance to Slide 10. Q2 revenue within A&D was $16.1 million, essentially flat with the prior-year period, however, gross margins expanded substantially as you see there from 6.4% to almost 27% as a result of our ongoing strategic objectives targeted at insulating us from the challenges related to the budgetary and funding uncertainty you heard Jeff speak about. This included expanding sales to international customers in Australia and New Zealand. Second, our journey into Lean and the Continuous Improvement endeavor has continued to strengthen our supply chain execution by lowering costs and achieving highest level ever in customer -- key customer satisfaction metrics. As you see, as a result, these initiatives drove EBITDA performance in a meaningful way, up just over $3 million from the prior-year period to $1 million, and did reflect ongoing R&D investment of about $1 million in the quarter, that was about $111,000 over the prior-year period. Let me ask you to advance to Slide 11 to talk about the sequential results. On a -- on revenue that increased 15.2% to $16 million for Q1, gross profit improved $1.7 million or just under 67%, and gross margin expanded considerably as well, coming in at 26.9% in Q2, versus just under 19% in Q1, reaffirming the strategic initiatives and the change in mix. Finally, EBITDA increased $872,000 from Q1 to Q2, and this is despite the R&D spending in the quarter that was $641,000 higher than the Q1 spend -- in Q1 of $394,000. Shifting gears through our Industrial segment, if you would advance to Slide 12. The Industrial…

[Operator Instructions] And gentlemen, it looks like we have no questions today.

Well, thank you, Melanie. I want to say that first of all, we want to thank everyone. It was obviously a good quarter and a good start to the year, and it must be reflective of that fact because this is the first time we've never had any questions. So on behalf of Brian and Tony, we want to thank you for joining in this -- joining us this morning, we welcome your continued interest, and of course, your questions about our business. We thank you, and have a good day.

And that does conclude today's conference, we thank you for your participation.