Good day, and welcome to the Sypris Solutions, Inc. Conference Call. Today's call is being recorded. 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, Keith and good morning everyone. Tony Allen and I'd like to welcome you to this call. The purpose of which is to review the company's financial results for the first quarter of 2022. For those of you who have access to our PowerPoint presentation this morning, please advance to Slide two now. We always begin these calls with a note 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 three. I will lead you to 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 four. We are pleased to report that revenue for the quarter increased 31% year-over-year, driven by a 33% increase for Sypris Electronics and a 30% increase for Sypris Technologies. We are also pleased to note that this top line performance was achieved despite the impact of material shortages and supply chain issues that continue to challenge our business. Gross profit for the quarter increased by 148% year-over-year supported by 113%…

Thank you, Jeff, and good morning, everyone. I’d like to discuss with you some of the highlights of our first quarter financial results. Please advance to Slide 12. Q1 consolidated revenue was $26.2 million, an increase of 30.9% from the first quarter of last year. The year-over-year increase in revenue of $6.2 million converted to an increase in consolidated gross profit of $2.7 million. Consolidated gross margin was 17.2% for the first quarter nearly double that of the prior year for an increase of 810 basis points. Revenue for Sypris Technologies increased 30.1% to $17.2 million from $13.2 million a year ago, with a gross profit increase of $2 million. Gross margin for ST improved 940 basis points to 18.3% in Q1. I'll break down the $4 million increase in revenue for ST in the three categories. The first category reflects the favorable conditions in the Class 8 market. ST revenue from components shipped to our customers serving the commercial vehicle market increased $1.7 million over the prior year. The Q1 increase for this market was in line with our expectations and with production in the overall Class 8 market expected to grow nearly 12% this year. We expect favorable year-over-year comparisons for the balance of the year. Revenue from the automotive, sport utility vehicle and I'll tell you half off-highway markets drove the second major category of the increase. These markets combined to account for $1.3 million increase over the prior year. New programs and steady to growing demand at the end user level supports our forecasted revenue from these markets during 2022, with more potential upside in 2023. The third and final category is energy product sales, which improved $1 million over the prior year. Quarterly revenue from this market was up and down during 2021 and Q1…

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

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