Welcome to the U.S. Auto Parts Second Quarter 2014 Conference Call. On the call today from the company are Shane Evangelist, Chief Executive Officer; and David Robson, Chief Financial Officer. By now, everyone should have access to the second quarter 2014 earnings release, which went out today at approximately 4 p.m. Eastern Standard time. If you have not received your release, it is available on the Investor Relations portion of the U.S. Auto Parts website at usautoparts.net by clicking on the U.S. Auto Parts' Investor Relations tab. This call is being webcast, and a replay will be available on the company's website through August 19, 2014. Before we begin, we would like to remind everyone that the prepared remarks contain certain forward-looking statements, and management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance, and speak only as of the date hereof. We refer all of you to the risk factors contained in U.S. Auto Parts' Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission for a more detailed discussion on the factors that can cause actual results to differ materially from those projected in any forward-looking statement. U.S. Auto Parts assumes no obligation to revise any forward-looking projections that may be made in today's release or call. Please, note on today's call, in addition to discussing the GAAP financial results and the outlook for the company, the following non-GAAP financial measures will be discussed: EBITDA and adjusted EBITDA. An explanation of U.S. Auto Parts' use of these non-GAAP financial measures in this call and the reconciliation between GAAP and non-GAAP measures required by SEC Regulation G is included in the U.S. Auto Parts' press release today, which, again, can be found on the Investor Relations section of the company's website. The non-GAAP information is not a substitute for any performance measures derived in accordance with GAAP, and the use of such non-GAAP measures have limitations, which are detailed in the company's press release With that, I would now turn the call over to Shane Evangelist.

Thank you, Mike, and thank you, all, for joining the call. I'd like to start by thanking our team members at U.S. Auto Parts. The work the team has put in over the last few years is now allowing U.S. Auto Parts to produce profitable double-digit growth. Thank you, all, for your hard work and dedication to the company. Turning to the highlights for the quarter. We produced double-digit revenue growth for the quarter with sales increasing by 13% and anticipate double-digit growth for the second half of the year. Our adjusted EBITDA for the quarter was $2.2 million, and adjusted EBITDA less CapEx was positive $0.7 million, producing the second-consecutive quarter of positive adjusted EBITDA less CapEx. At the beginning of the year, we anticipated revenue being down in the first half of the year, and up in the second half. Well, the first half of the year actually finished up 8.8%, and we continue to believe the back half of the year will be positive. We also stated at the beginning of the year we anticipated adjusted EBITDA less CapEx to be positive. Year-to-date, adjusted EBITDA less CapEx is positive $2.5 million, and we remain on plan to be positive for the entire year. We believe our recent growth highlights the great position U.S. Auto Parts is in to take advantage of the growing online market for auto parts. Over the next 5 years, Booz & Company expects online penetration to grow from around 9% to 17%. We believe our combination of low-cost offshore sourcing coupled with our industry-leading reach puts U.S. Auto Parts in a great position to take advantage of the expected accelerated shift from online shopping -- or from offline shopping to online shopping. Turning to revenue. Revenue from go-forward sales channels was up 18%,…

Thanks, Shane. Good afternoon to everybody on the call. Unless otherwise stated, this quarter refers to consolidated Q2 2014, and last year refers to Q2 2013, and comparisons are Q2 2014 compared with Q2 2013. Also, percentage of basis points discussed are calculated using net sales. However, for advertising, we'll discuss comparisons to net online sales. Adjusted EBITDA, as Shane mentioned, for the quarter was $2.2 million compared to adjusted EBITDA of $1.1 million last year. Adjusted EBITDA excludes noncash share-based compensation expense of $629,000 this quarter and $341,000 for the second quarter last year. Adjusted EBITDA also excludes restructuring costs of $1.1 million this quarter and $225,000 for the second quarter last year. The $1.1 million in restructuring costs recorded in the current quarter is associated with the closure of our distribution facility in Carson, California, at the end of July. These costs consist of $552,000 of severance, $478,000 associated with the write-down of inventory, and $73,000 of accounts receivable reserves. In addition, we also anticipate recording additional restructuring costs in the third and fourth quarter of this year related to the inventory and fixture transfer costs from the Carson warehouse to our LaSalle and Chesapeake warehouses and further inventory write-downs. The inventory and fixture transfer costs were approximately $500,000, which we occurred in Q3. The additional inventory write-downs are anticipated in order to accelerate the sell-through of some excess inventory now that we are operating with less warehouse space because of the Carson warehouse closure. We cannot estimate the amount of these future inventory write-downs at this time. However, we expect to realize these charges during Q3 and Q4 of this year as we appropriately price this excess inventory to sell through over the coming 2 to 3 quarters. The $225,000 in restructuring costs recorded last year relates…

[Operator Instructions] And our first question comes from the line of Mitch Bartlett with the Craig-Hallum Capital Group.

This is George on for Mitch. First question. I think you mentioned 7% quarter-to-date growth? And I was just wondering if that is inclusive of the negative impact from the restructuring. And also, you also mentioned that you expect double-digit second-half growth. I'm just wondering what you're seeing that gives you confidence in -- that you can accelerate growth?

Yes. Thanks, George. The 7% does include what will be a couple of percent from the move and the loss of offline sales there. A couple of things. One is, we saw some decent double-digit growth in the second quarter. We started off a little bit weak in July, but basically, we've seen a pickup a little bit, and I expect that to continue. So we feel pretty good about the double-digit growth in the back half of the year.

Okay, okay. And then secondly, there's been so much growth -- just a couple modeling questions. There's been nice acceleration in the conversion rate and the revenue capture and wondering how much -- if you think there's still upside to both of those numbers? And then, on the unique visitors side, when do you expect that to start to kind of stabilize and maybe, even, turn positive?

Yes. So let me get the conversion rate -- a couple things helping drive the conversion rate. One is, the quality of traffic we're bringing in right now is -- it's higher-quality traffic. And I think you've seen 1 year ago at this time, some of that has to do with the traffic we've gotten rid of as we shut sites off. So you're seeing higher-quality traffic, which is helping the conversion. We're also seeing better user experiences and a little bit more aggressive pricing. I hope and I expect to see conversion continue to increase over time. That's what we had previously done before we were impacted here. And hopefully, we get back to that trend as well. Rev capture, I think an optimal goal for us is 1 or 2 points higher than what it is right now. We still have some opportunity inside return rates that we continue to work through, so hopefully, we get some upside there. Unique visitors has actually stabilized as it relates to around 30 million for the quarter, 10 million for the month. And you're starting to see that sort of stabilize. And hopefully, we can start to turn that positive. Some of that is a result of reduced marketing spend, which, at some point, you get past. So I think that's probably our view on those 3 topics.

[Operator Instructions] Okay. And the question goes back to Mitch Bartlett with Craig-Hallum Capital Group.

If no one else's in the queue, I'll just hop back in. One other question about AutoMD. Could you give us -- I may have missed in your prepared remarks, but could you give us an update, just tell me what's going on there and your expected full year investment in that business?

Yes. George, we're still running -- expected investment around $1.5 million for the year. As we've mentioned before, we need a big opportunity to bring transparency to consumers and drive more traffic into shops. And so this year, we're really focused on getting shops signed up. We ended the second quarter with a little over 700 and look forward to continuing that shop sign-up growth through the back half of this year.

And we have no other questions in the queue at this time. Would you like to proceed with any closing comments?

I just want to thank everyone for joining the call. We look forward to updating you again on our third conference call.