Thank you for standing by. Welcome to the CorVel Corporation Quarterly Earnings Release Webcast. During the course of this webcast, CorVel Corporation may make projections or other forward-looking statements regarding future events or the future financial performances of the company. CorVel wishes to caution you that these statements are only predictions and that actual events or results may differ materially. CorVel refers you to the documents that the company files from time to time with the Securities and Exchange Commission, specifically the company's last Form 10-K and 10-Q files for the most recent fiscal year and quarter. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. I would now like to turn it over to Michael Combs, President and Chief Executive Officer.

Thank you for joining us to review Corvel's June quarter. On the call with me today is Brandon O'Brien, CorVel's Chief Financial Officer. Today, I will be discussing market trends, strategic themes on which we are focused and the progress that we've made on our key initiatives. I will also be providing information related to a security incident which affected our system availability subsequent to the June quarter. Brandon will then provide an overview of our financial results. Earnings per share for the quarter ended June 30, 2019, were a record $0.71, increasing 15% from $0.62 per share in the same quarter of the prior year. The earnings per share increase included a 1% decline in corporate expenses, a 1% decline in the tax rate and a 1.6% drop in shares outstanding. Revenues for the period were $150 million. We're coming through a unique time during which our new approach to claims management is emerging and our customer relationships continued to expand with those entities seeking improved solutions for their disability management. The value in our new processes is visible in our earnings. However, the evolution in our service has led to some unevenness in our revenue results. As the results of our new service model become more well known, we expect the growth in the bottom line to be mirrored in the top line results as well. Let me further explain the breakthroughs that we're making. Historically, the claims management model in our industry has not evolved much over the past 50 years. And consequently, results have not improved much either. Customers have focused on the cost per unit of service rather than the cost of the overall programs, which is common in the markets for commodity services and products. Our investments have been in the creation of a…

This concludes today's webcast. You may disconnect your lines at this time.