Good day, everyone. And welcome to today's Live Ventures Incorporated Earnings Call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. Please note today's call maybe recorded. [Operator Instructions] It is now my pleasure to turn the conference over to Chief Executive Officer, Jon Isaac. Please go ahead.

Thank you, Operator. Good afternoon, everyone. Welcome to Live Ventures first quarter 2022 earnings call. I'm joined by two new members of our management team that I'm excited to introduce to you today. Chief Accounting Officer, David Verret; and Chief Operating Officer, Eric Althofer. David joins us after working as Chief Accounting Officer at Brink's Home Security and brings a wealth of experience in both public and private accounting. Eric joins us as our Chief Operating Officer and has the diverse experiences across strategy consulting, investment banking, M&A, and private lending. I'm excited to have them join me today. And I'll now hand it over to David to walk through our financial performance for the quarter.

Thank you, Jon. Good afternoon, everyone. Please note that some of the statements we are making today are forward-looking and are based on our best view of our businesses as we see them today. Earlier today, we filed our Form 10-Q with the SEC. I direct you to our website, www.liveventures.com or www.sec.gov for a copy of this quarter's Form 10-Q and other historical SEC filings. Overall, the company delivered a strong first quarter 2022 performance, representing the three months ended December 31, 2021 with revenues for the quarter, increasing 20.4% to $75.2 million as compared to $62.5 million in the prior year period. Revenue growth was driven by growth in all of our segments. Retail segment revenues were $26.2 million, a 17% increase over the prior year period. The increase is primarily due to inflationary price increases and opening of four new stores in calendar year 2021. Steel segment revenues increased 27% to $12.4 million as compared to $9.7 million in the prior year period. Flooring segment revenues increased 8.8% to $32.9 million as compared to $30.2 million in the prior year period. Revenue increase and steel and flooring segments are primarily due to inflationary price increases, as well as pent-up demand caused from the COVID pandemic in 2020 and the gradual reopening of the economy in 2021. Finally, approximately $3.6 million of the increase in revenues is due to Salomon Whitney becoming a consolidating variable interest entity in June of 2021. Gross profit for the first quarter was $27.6 million up from $22.3 million in the prior year period. The gross margin percentage for the company increased to 36.7% from 35.7% end of prior year period. The increase in gross margin percentage is primarily driven by the steel segment and the consolidation of Salomon Whitney in Q1 2022.…

Being that there are no questions from everyone, we wish everyone a good day and we will see you on the next earnings release. Thank you.

This does conclude today's program. Thank you for your participation. You may disconnect at any time and have a wonderful afternoon.