[Technical Difficulty] 2024 Fourth Quarter Earnings Conference Call. Thank you for joining us. On the call with me today is Frank Pellegrino, our CFO; and Jasper Sanfilippo, our COO. We may make some forward-looking statements today. These statements are based on our current expectations and they involve certain risks and uncertainties. The factors that could negatively impact results are explained in the various SEC filings that we have made, including Forms 10-K and 10-Q. We encourage you to refer to the filings to learn more about these risks and uncertainties that are inherent in our business. I am proud to report a successful and historic fiscal 2024 as we exceeded $1 billion in sales for the first time in our company's history. We also successfully executed a key component of our strategic plan by further diversifying our product offerings through the acquisition, integration and optimization of our Lakeville bar facility and operations. We raised our annual dividend by 6.3% to $0.85 per share and supplemented our annual dividend with an additional special dividend of $1.25 per share, both of which will be paid on September 11, 2024. These results were due to our team's unyielding perseverance and leadership as we navigated through a challenging operating environment in fiscal 2024. Additionally, we recognized and rewarded our talented team members for their outstanding contributions in executing our strategic plan. I am so proud of our associates across the company who worked hard on expanding our product portfolio. Their dedication to quality, service and innovation, their commitment to our customers and consumers is remarkable. Our snack and nutrition bar offering generated approximately $131 million in net sales for the fiscal year, of which $120 million was related to the Lakeville acquisition. In addition, we made substantial progress in optimizing the operations in Lakeville…

Thank you, Jeffrey. Starting with the income statement. Net sales for the fourth quarter of fiscal 2024 increased 15.1% to $269.6 million compared to net sales of $234.2 million for the fourth quarter of fiscal 2023. Net sales for the current fourth quarter included approximately $44.2 million of net sales in the Lakeville acquisition. Excluding the Lakeville acquisition, net sales decreased $8.9 million, or 3.8%. Decline was due to a 1.9% decrease in sales volume, which is defined as pound sold to customers combined with a 1.9% decrease in the weighted average sales price per pound. The decrease in the weighted average selling price primarily resulted from lower selling prices for all major nut types due to competitive pricing pressures and strategic pricing decisions. Sales volume declined for peanuts, almonds, pecans and walnuts, which was partially offset by sales volume increases for cashews and snack and trail mix in the fourth quarter. Sales volume increased 31% in the consumer distribution channel, primarily due to Lakeville acquisition. Sales volume predominantly consists of private brand bars and accounted for a 35.4% increase in private brand sales. Excluding the impact of the Lakeville acquisition, sales volume increased 1.8% in the consumer distribution channel primarily due to a 1.5% increase in private brand sales volume. The sales volume increased for our private brands and consumer distribution channel was mainly driven by new peanut butter distribution and increased volume of mixed nuts at a mass merchandising retailer due to retail price adjustments which were partially offset by decreased consumer demand for almonds at the same retailer. Distribution of snack and trail mix at new grocery store retailer and increased distribution of snack and trail mix at current grocery store retailer was tempered by lower consumer demand for snack and trail mix products at another mass…

Thanks, Frank. Financial updates. Now let's shift to consumption activity and category updates. I will share some category and brand results with you for the quarter. As always, the market information I'll be referring to is Circana reported data and for today it is for the period ending June 16, 2024. When I refer to Q4, I'm referring to 13 weeks of the quarter ending June 16, 2024. References to changes in volume or price versus the corresponding period one year ago. We look at the category of Circana's total US definition, which includes food, drug, mass, Walmart, military and other outlets, unless otherwise specified. When we discuss pricing, we are referring to the average price per pound. Breakouts of the recipe, snack and produce nut sub-categories are based on our custom definitions developed in conjunction with Circana. The snack bar category is the syndicated view as defined by Circana. The term velocity refers to the sales per point of distribution. In the last quarter, we started to see stabilization in the broader snack category. Snack isle as defined by Circana declined 0.8 points in pounds and 0.3 points in dollars. This is an improvement versus the trends we were seeing in Q3. The total nut and trail mix category was down 2% in dollars and down 1% in pound volume in Q4. This is better performance than we saw last quarter. Nut and trail mix prices have moderated and price per pound declined 1% versus the prior year. We are still seeing consumers trade down to less expensive snacks, bar sizes and nut types and deal seek as broader food and essential prices remains elevated. Now we'll cover each subcategory in more depth, starting with recipe nuts. The recipe nut sub category was down 5% in dollars and 4%…

We'd like to thank you for participating in our earnings call today. Have a great day. Thank you.

This concludes the participation in today's conference. You may now disconnect.