Good morning, ladies and gentlemen. Welcome to the CTI Industries Corporation First Quarter 2017 Financial Results Conference Call. This call is being recorded. This conference call may contain forward-looking statements, as defined in Section 27AI1 of the Securities Act of 1933 as amended, including statements regarding, among other things, the Company’s business strategy and growth strategy. Expressions, which identify forward-looking statements, speak only as of the date this statement is made. These forward-looking statements are based largely on this Company’s expectations and are subject to a number of risks and uncertainties, some of which cannot be predicted or quantified and are beyond their control. Future developments and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the forward-looking information will prove to be accurate. I’ll now turn the call over to Stephen Merrick. Please go ahead, sir.

Good morning, everyone, and thanks for participating in our call. I am joined today by John Schwan, our Chief Executive Officer; Tim Patterson, our Chief Financial Officer; and Stan Brown, our Director of Investor Relations. At the conclusion of our report, we will respond to questions that you may have. Overall, we had a good first quarter, sales were strong and were up over the first quarter last year which itself was one of the strongest quarters we have had. For the quarter, net sales reached $15,360,000 compared to net sales of $15,205,000 in the first quarter last year. Sales of foil balloons were particularly strong, up about 11% from $8,014,000 first quarter last year to $8,891,000 in the first quarter this year. We will review some specifics about the strength in that product line in a couple of minutes. Sales of latex balloons also increased over the first quarter last year from $2,044,000 in the first quarter last year to $2,105,000 this year reversing the declines that we had experienced last year. Revenues from the sale of other products, our direct sales container products, party goods sales and sales of Candyloons continued to increase now representing 12% of our total revenues for the quarter. Our operating results for the first quarter were good although a bit down from last year. For the first quarter, we had income from operations of $508,000 compared $647,000 last year. The difference reflects some higher administrative expenses we had in the first quarter this year as well as slightly lower gross margin rate than in the first quarter last year. Net income from the quarter was better than last year reaching $58,000 for the quarter or $0.02 per share compared to $7,000 of net profit for the first quarter last year. Our total interest…

Thank you. [Operator Instructions]

And there are no questions on the phone queue.

Thank you, everyone for participating in the call. We are pleased to be able to report what we did for the first quarter and we are looking forward to good reports for the following quarters this year. Thanks again for participating. We hope to have you participate as we go through the year. Thanks again. Have a good day.

This concludes today's call. Thank you for your participation. You may now disconnect.