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

Thank you, Matt. And good morning, everyone. 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 third quarter of 2014. 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. Tony will then provide you with more detailed review of our financial results for the quarter. Now let's begin with the overview on Slide 4. The company posted another positive quarter with revenue, gross profit and earnings per share all improving on a year-over-year basis, albeit, not in line with our internal expectations, which were substantially more ambitious for the quarter. Consolidated sales increased 18% to $90.2 million, up from $76.3 million for the third quarter of 2013. Gross profit rose 13% to $8.2 million, up from $7.3 million for…

Thanks, Jeff. Good morning, everyone. I'd like to take you through the highlights of our financial results for the third quarter of 2014. I will begin with our consolidated results, and ask you to advance to Slide 10. Q2 consolidated revenue totaled $90.2 million, an increase of $13.9 million or 18.3%, as compared to the prior year. Our Industrial Group reported a $15.9 million increase, which was partially offset by a $2 million decrease in revenue by our A&D segment. An increase in revenue of nearly 24% for our Industrial Group primarily reflects higher commercial vehicle volumes. Reduction in the A&D segment revenue was primarily due to lower sales of our data systems products compared to the prior year. We expected revenues for the A&D segment to increase during Q3, which shipments planned during the quarter for certain electronic manufacturing service programs were delayed due to factors including customer redesign of circuit boards and the need to qualify certain components due to vendor changes in our supply chain. We were also impacted by funding allocations within the agencies of the U.S. government we serve as the government's fiscal year closed on September 30. Funds for certain of the programs we were targeting for award in the 2014 fiscal year were swept to other programs, and although this doesn't signal a loss of the award, it does shift the timing to the current government fiscal year. Gross profit increased 13.1% to $8.2 million for the quarter from $7.3 million in the prior year period. Our gross margin for the quarter was 9.1% compared to 9.5% in the third quarter of 2013. Quarterly gross margin for our Industrial Group was up 20 basis points over the prior year from 11.1% to 11.3%. However, margins on our A&D segment declined, reflecting both lower…

[Operator Instructions] We'll take our first question from Jim Ricchiuti with Needham & Company. James Ricchiuti - Needham & Company, LLC, Research Division: First off, just if we could talk a little bit about gross margin, so the step down in gross margin, first half to Q3, is it fair to say that the issues that surfaced in the industrial business appear more temporary, and that you could assume if revenues remain at these levels in Q4 that we would see margins recover somewhat in this business?

Yes. Jim, we do expect that the issues largely that we experienced during the third quarter are behind us on the Industrial Group in terms of the major maintenance issues, and we would look to -- for revenue to remain at the Q3 levels in Q4, and we look for margins to return to something that resembles more what we had in the first half. James Ricchiuti - Needham & Company, LLC, Research Division: Okay. Now on the Electronics Group, I mean, clearly with A&D, I mean, it seems like it's -- at least, in large part, an issue of volume and revenue, and certainly mix plays into it, but it doesn't sound like unless we see some improvement in the overall revenue picture in the Electronics Group that there would be much in a way of margin improvement in Q4, is that fair to say?

Yes, I think that's fair. Certainly, the -- we're not expecting a significant change in revenue level during Q4. The mix, I think, we -- that we experienced in Q3, we could have some improved mix in Q4 that will benefit us, but not a significant change in margins. James Ricchiuti - Needham & Company, LLC, Research Division: Got it. And if we just switch gears a little bit, Jeff, can you elaborate, can you expand at all on the agreement that you have in place with respect to this acquisition? You refer it to as an acquisition of a North American company, any -- is it a U.S. company, and I wonder if you could talk a little bit if you can about the end markets, and perhaps, customer overlap?

Pleased to, Jim. Yes, it is based in the U.S. It will expand our customer share in, I think, a very positive way with our existing customer base. We have had the chance to inform our customers of the transaction, and they were uniformly positive in their responses, and this business has done a very nice job of staying well up to date in terms of its manufacturing processes and technologies, and so it will add a very, very efficient operation to our existing Industrial Group.

We'll go next to Tristan Thomas with Sidoti. Tristan Thomas - Sidoti & Company, Inc.: Just kind of a couple follow-on questions just regarding the acquisition, I mean, is this a higher margin business in which you're currently in? I mean, just -- could you maybe give us a little color on that?

Tristan, the margins are consistent with our Industrial Group generally. Tristan Thomas - Sidoti & Company, Inc.: Okay, got you. Any seasonality in that business we should be aware of or is it pretty similar to your business?

Very similar. Tristan Thomas - Sidoti & Company, Inc.: Okay. Jumping back over to A&D, just to clarify something, you said bookings were 80% higher than shipments. That's consolidated between EMS and cyber security, right?

Yes, for this segment. Tristan Thomas - Sidoti & Company, Inc.: Okay, right. And then Tony mentioned that you had a government order push back to the government calendar year end. Is that something you're seeing a lot of or was that a one-time isolated event?

We have seen a number of programs get shifted, Tristan, and a lot of it happens to -- relate to what's going on around the world in defense spending generally by the U.S. government. So it is something that we see that is common. It's not necessarily a one-time thing, and we're certainly doing our best to manage what element of that we can control. Tristan Thomas - Sidoti & Company, Inc.: Okay, so we should just view that as really a continuation of the uncertainty in the defense budget that everyone's still trying to push things to the right?

I think that's fair.

We'll go next to Alan Weber with Robotti & Company. Alan W. Weber - Robotti & Company, Incorporated: First, regarding the acquisition, could you talk about how much you're paying for the acquisition?

We haven't agreed to disclose that at this time unfortunately, but as we get closer and when the transaction is completed, then I'm sure a lot of that will be disclosed. Alan W. Weber - Robotti & Company, Incorporated: Okay, and what about -- is it all cash?

Yes. Alan W. Weber - Robotti & Company, Incorporated: Okay. And then do you have the -- I mean, you have the gross margins for both businesses, do you know what the operating income was for both businesses?

Yes, the -- our segment disclosures that are included in the 10-Q, the gross -- so your question is the gross -- the operating income numbers for each business? Alan W. Weber - Robotti & Company, Incorporated: Correct.

Okay. The operating income for the Industrial Group for the quarter is 5.4, and the Electronics Group is negative 3.6. Alan W. Weber - Robotti & Company, Incorporated: What was it last year in the quarter for the Industrial?

It was 4.6 for Industrial. Alan W. Weber - Robotti & Company, Incorporated: So the Industrial operating income is actually higher this quarter versus last year?

That's correct. Alan W. Weber - Robotti & Company, Incorporated: Okay. And despite having lower gross -- well, actually -- okay, that makes sense. And then my last question was can you just talk more about the Dana contract, which I guess technically expires at the end of the year?

Yes, that's correct. And we've had a contract dispute with Dana for quite some time now, and we're in conversations to see if we can resolve that in a way that's acceptable to both parties. Alan W. Weber - Robotti & Company, Incorporated: I mean, I guess, the question is do you run the company expecting that contract to be renewed?

Well, I would say this, I would say that the industry is at a very high level that in several other things -- several other products that we produce, we're the largest if -- one of the largest, if not, the largest producers of this products in the world, and we would hope that the capabilities that we bring to the table are found to be attractive to all of our customers. So we're looking for a way for this -- disagreement to these concluded in a mutually satisfactory way. Alan W. Weber - Robotti & Company, Incorporated: Okay. And I guess my last question on the acquisition, how many facilities does that company have?

It has a single -- it has 2 facilities.

[Operator Instructions] We'll go to Justin Portman with Talanta Investment Group.

My question is I just wanted to consolidate some of the other questions that have been asked about the A&D segment. Jeff, did I hear you correctly earlier in your discussion that you said you expected that segment to be profitable in 2015?

We've talked before on many occasions that we're looking for that piece of our business to return to breakeven during the coming year.

Breakeven at the gross margin level or breakeven operating income?

Operating.

[Operator Instructions] We'll take a follow-up from Jim Ricchiuti with Needam & Company. James Ricchiuti - Needham & Company, LLC, Research Division: Just regarding the Dana issue, just given the time line on the contract expiration, is there any -- do you see the customer at all increasing inventory levels in Q4, perhaps, to provide some buffer if the negotiations just get extended further?

Jim, I'd only be speculating, but I'm guessing that Dana would take where ever precautions if felt was necessary to protect its interest for sure. James Ricchiuti - Needham & Company, LLC, Research Division: Okay, but there's no evidence of that yet and...

Certainly, I haven't seen any reports that they've published that would do that, but again, it would be speculation, and I'm confident that they're taking whatever steps that they feel be appropriate to protect their customer interest. James Ricchiuti - Needham & Company, LLC, Research Division: Got it. And Jeff, just to switch gears for a second, the oil and gas market has remained -- appears to have remained fairly strong for you. You may have sized this in the past, what percent in rough terms it represents of the Industrial business. Clearly, it's, I guess, a nicely profitability piece of that business. Do you see any change in the demand in that business just in light of the decline in oil prices?

No, we haven't, Jim. And I think the key to this piece of the business is that the products that we provide typically go into projects later in their development. So if it's for a natural gas pipeline or a petrochemical application, typically, the products that we provide are installed later in the process, and so as a consequence, there's usually a substantial lead time on the breaking ground of the project if you will. And as we look towards the future, we've been reading a lot about increased emphasis on the export -- exportation of natural gas. And so if in fact that becomes a reality for the United States, the expectation is that there will be substantial investments in the future to support the exportation of natural gas, which we would view as being a positive development for this part of our business. James Ricchiuti - Needham & Company, LLC, Research Division: Got it. And in Q3, can you say what percent this market represented of the Industrial business?

No, we haven't broken our operations out that way at this time.

Mr. Allen and Mr. Gill, we have no additional questions. I'd like to turn the call back to you for any additional or closings comments.

Well, thank you, Matt. Tony and I would like to thank you, all, for joining us on this call this morning. We welcome your continued interest, and of course, your questions about our business. Thank you, and have a great day.

And that does concludes today's conference. Thank you, again, for your participation.