Greetings and welcome to the Moving Image Technologies first quarter 2027 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Chris Eddy with Investor Relations. Please go ahead.

Thank you, operator, and thank you all for joining today's call. MIT President Francois Godfrey will provide a business overview and CFO Bart Bedard will discuss some financial highlights, after which we will open the call to investor questions. Today's conference is being recorded and an audio replay and written transcript will be posted to the investor section of the moving image website in the next few days. As a reminder, except for historical information, the matters discussed on this call are forward-looking statements that involve several risks and uncertainties. Words like believe, expect, and anticipate mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will take place. Actual future results could differ materially from those statements. Further information on the company's risk factors is contained in the company's quarterly and annual reports filed with the SEC. I will now turn the call over to MIT President Francois Godfrey.

Thanks, Chris, and thank you all for your interest in moving image technologies. We are pleased with our first quarter performance as it benefited from some of the positive underlying dynamics within the exhibition industry, including two customer projects which were accelerated into the period. As a result, our first quarter revenue rose by 9.2% to $6.1 million, benefiting from DCS loudspeaker sales and increased customer project activity in preparation for the critical holiday feature film release window. The accelerated project timelines caused our Q1 performance to exceed our earlier outlook. Of course, the timing of small and large projects can easily shift a few quarters as customers move implementations forward or back to meet internal operating or financial goals or priorities, creating potential variability in our quarter-over-quarter results. Thank you for joining us. We remain firmly focused on building a sustainable business model with the potential to generate profitable growth. As I alluded, we remain encouraged by the industry backdrop and solid box office performances which are traditionally the strongest indicators for capital investments in new or upgraded cinema technology. Movie industry analysts continue to express optimism about the film slate over the next 12 months, supported by renewed customer enthusiasm for the theatrical experience. We believe this provides exhibitors with greater confidence in the long-term prospects of their business, while also providing needed cash flow to fund new equipment and auditorium upgrades. We believe our expanded product portfolio, including PLF and immersive audio solutions, positioned us well to participate in these opportunities as exhibitors evaluate their capital investment priorities for the coming year. As exhibitors seek to maximize attendance, premium large format auditoriums and immersive audio solutions remain a key pathway to differentiate their venues and enhance the movie-going experience. Given the technical complexity and scope of such projects, they remain important revenue opportunities for MIT. I am pleased to report that we are seeing a more robust level of activity in our industry, and we are engaged in discussions surrounding several potential projects that could contribute to our business in calendar 2027. These conversations include some meaningful potential opportunities for LEA amplifiers, and industry-leading product line we began working with four years ago and is continuing to gain long-term operational acceptance. The addition of the DCS loudspeaker line to our business has helped build interest by enabling us to offer a comprehensive audio solution. Having referenced DCS, let me provide an update on the acquisition which we closed early in the second quarter of last fiscal year. Overall, we are very pleased with how things are going, though there have been some challenges in incorporating the DCS operations into MIT and ramping up our manufacturing and global logistics. As we expected, customer interest is very strong, both with legacy DCS customers around the world and with new prospects. Our team is progressing well in this regard in a financially disciplined manner. The net result is that we continue to see great value in expanding our base of proprietary products to provide us entry and competitive advantage in the marketplace. It takes time to establish ourselves with this product, but since closing the acquisition about a year ago, our team has generated total sales of $1.3 million from over 20 countries, approaching the $1.5 million in total consideration paid in the purchase. As is typical in the cinema exhibition industry, customer capital spending activity slows substantially during the November and December holiday seasons. This upgrade pause allows exhibitors to maximize their revenue opportunity while they also work internally to complete budgeting and planning for theater upgrade priorities for the year ahead. We look forward to customers releasing their budget plans in the new calendar year so we can work to secure some of their projects and build that outlook into our public outlook for investors. At this point, we have a favorable outlook for project activity leading up to the holiday film release season. Finally, as we have discussed previously, MIT continues to evaluate the merits of potential business combinations or other strategic transactions that we believe could enhance our competitive position, growth potential, and financial results for our shareholders. Now I'll turn the call over to our CFO, Bart Bedard, to review the financial highlights.

We published our financial statements in this morning's press release and expect to file a Form 10-Q later today. And now I'll briefly walk through our financial results. MIT's Q1-27 revenue increased 9.2% to $6.09 million, compared with $5.58 million in Q1 of 26. The increase was principally attributable to two customers who accelerated the timing of projects by one quarter into Q1 of 27, putting our results well ahead of our prior outlook. This is a very clear example of how the timing of larger customer projects can have on our quarter results in comparison to other periods. Our Q1 of 27 results also benefited from 429,000 Loudspeaker sales, including a large shipment to a customer in Sri Lanka, compared to $400,000 in DCS revenue in Q4-26, and no revenue in the year-ago period prior to the purchase of DCS. Our DCS order backlog is approximately $459,000 today, and we are pleased with the pace of reception and inquiry by customers for the DCS line one year following the acquisition. Gross margin percentage in Q1 of 27 decreased to 24.1% compared to 30% in Q1 of 26, reflecting lower sales of high-margin cinema accessories products and increased costs. Higher global transportation and input costs, particularly in international markets, also contributed to margin pressure during the quarter. increasing the cost of delivering products and equipment to customers. Our Q127 gross profit was $1.47 million compared with $1.67 million in the prior year period with the decrease attributed to the lower gross margin. Q127 operating expense declined to $1.3 million from $1.32 million in Q126, as MIT continued to benefit from certain cost initiatives put in place the past several quarters. Q1 of 27 net income was $181,000, or $0.02 per share, compared with net income of $509,000, or $0.05 per share, in Q1 of 26. The decrease was due to the lower gross profit. as well as $128,000 of income from the extinguishment of tables that was recorded in Q1 of 26. Turning to our balance sheet, we had working capital of $4.24 million at the close of Q1 of 27 compared to $4.04 million in Q1 of 26. MIT has no long-term debt. We've closed Q1 of 26 with net cash of $5.69 million and a profit of $0.55 per common share, compared to net cash of $3.19 million in Q4 of 26. The sequential increase reflects the management of the timing of accounts payable payments, as well as $1 million in customer deposits collected against future work. Turning to our revenue outlook, MIT currently anticipates revenue of approximately $5.4 million in our fiscal In summary, achieving positive net income this quarter is an encouraging milestone that reflects our solid customer engagement and the process we have made in aligning our expense structure with the business. Our priority remains to Thank you. We'll now be conducting a question and answer session. If you would like to ask a question, please press star 1 on your telephone keypad. A confirmation tone will indicate your line is in the question queue.

You may press star 2 to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment please while we poll for questions. As a reminder, if you'd like to ask a question, please press star 1. Thank you. There are no questions at this time. I would like to hand the floor back over to management for any closing remarks. At this time, we are concluding today's conference. You may disconnect your lines, and we thank you again for your participation.