Good day, and welcome to the Sypris Solutions, Inc. Conference Call. Today's call is being recorded. And at this time, for opening remarks, I would now like to turn the call over to 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 company's financial results for the Third Quarter 2021. 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 an update on the outlook for each of our primary markets. Tony 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 are pleased to report that revenue increased almost 16% year-over-year driven by a 38% increase for Sypris Technologies with revenue for the period exceeding all but one of the quarterly results reported for Sypris Technologies during the past five years. We were also pleased to note that this top line performance was achieved despite the impact of material shortages and supply chain issues that permeated across our…

Thanks Jeff. Good morning, everyone. I'd like to discuss with you some of the highlights of our third quarter financial results. Please advance the Slide 12. Q3 consolidated revenue was $25.7 million, an increase of $3.5 million or 15.9% from the third quarter of last year. Consolidated gross profit improved to $4 million from $3.5 million a year ago and consolidated gross margin was 15.5% for the third quarter down 50 basis points from the prior year. Revenue for Sypris Technologies increased 38.3% to $16.7 million from $12.1 million a year ago, while gross profit increased 200,000 to $2.1 million for the quarter. The COVID pandemic initially had a severe impact on this segment in Q2 of last year. The year-over-year Q3 revenue growth highlights the turnaround in demand for our commercial vehicle, automotive and off-road components that started in the first half of 2020 and further accelerated in the first half of 2021. More recently, although end user demand forecasts remain high in the commercial vehicle market, production forecast for Q4 and 2022 have been adjusted down to reflect supply chain constraints, including semiconductor shortages that are impacting the industry. Whereas three months ago, the market was expected to peak in 2022, the most recent view of the forecast now includes three consecutive years of double-digit growth starting in 2021 with the market peak taking place in 2023. Our energy product shipments posted a slight decrease in revenue year-over-year. As this market continues to face headwinds, that originated with the COVID outbreak in the second quarter of 2020. Demand has been volatile from month to month with our customers signing project delays and reduced near term infrastructure spending as contributing factors. We expect conditions in this market to improve as crude oil and natural gas prices are up and…

Thank you, Tony. We'd like to thank you for joining us on the call this morning. We're looking forward to another year of double-digit growth, expanding margins and increased profitability. And please know we certainly appreciate your continued interest in our business. Thank you and have a good day.

The conference is now concluded. Thank you for attending today's presentation. You may now disconnect. End of Q&A: