Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to WPCS International Incorporated fiscal year 2010 first quarter investor conference call. Your host for today's call is Andy Hidalgo, Chairman and CEO of WPCS International Incorporated. (Operator Instructions) In addition, we would like to note that statements about the company's future expectations, including future revenue and earnings and all other investments made during this investor's conference call other than historical facts are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements. I will now turn the call over to Mr. Hidalgo.

Thank you, [Dawn]. Good afternoon, ladies and gentlemen, and welcome to our fiscal year 2010 first quarter investor conference call. The agenda for today's call will include a discussion of our first quarter financial results and our fiscal year 2010 financial expectations. In addition, I'll discuss market conditions and concludes with a review of our strategic development. During our fiscal year 2010 first quarter ended July 31, 2009, WPCS reported net income of $435,000 or earnings of $0.06 per diluted share compared to net income of $293,000 or $0.04 per diluted share during the fourth quarter ended April 30, 2009 and also compared to net income of $838,000 or earnings of $0.12 per diluted share during the same period last year. Revenue during the first quarter was $25.3 million compared to $24.7 million during the fourth quarter ended April 30, 2009 and compared to $28.3 million during last year's first quarter. For the first quarter the revenue segmentation was 28% wireless communication, 14% specialty construction, and 58% electrical power. Consolidated gross margin during the first quarter was 28% compared to 29% during the same period last year; however, sequentially our gross margin improved from 26% to 28%. SG&A expense as a percent of revenue was approximately 23% compared to 21% last year. Actual SG&A expenses are down year-over-year; however, the lower first quarter revenue production explains the increase in SG&A as a percentage of revenue. In regard to our balance sheet, WPCS continues to maintain a strong position, with $8.6 million in cash, $21.6 million in working capital, and $5.6 million of credit line borrowing. Our credit line borrowing to working capital ratio remains favorably low at 26%. We continue to view this ratio as an important indicator of our financial strength and ability to finance our growth from our…

(Operator Instructions) Your first question comes from John Young - Wilson HTM.

I wonder if you could give us a little bit of information about how your operations in Australia and China are working and what you see for potential growth in those two markets?

Well, although they represent, John, a smaller part of our revenue production at the moment, both countries are doing very well from an expansion point of view. In China they're still estimating a 6% gross domestic product in the next quarter, and they have created stimulus for funding their infrastructure. So we see a lot of potential for infrastructure projects down the road. The problem we have in China is that we really can't find any good quality additional acquisition candidates, so our revenue production from that country remains relatively low compared to our overall revenue production. So we're looking diligently in China to see if we can expand our operation, but the operation that we have there is healthy and has tremendous potential going forward. In Australia the GDP levels are a little bit lower, in the 1% to 2% range, but their exporting activities in ire ore remains very heavy from India and China, and their need to upgrade antiquated infrastructure continues to be a top priority for that country. In Australia we feel that there's great opportunity to grow revenue. We have identified some acquisition candidates that look very good as part of our portfolio of companies, and we're going to continue to focus on building in that country as the GDP appears to continue to be very promising going forward. Our focus on international remains a priority and we look forward to it really yielding even better results in the quarters ahead.

Your next question comes from [Dean Mitchell - Unidentified Firm].

I'd like to know what percentage of expected earnings per share you expect to come from cell tower, construction and maintenance, and also what percentage of power transmission involves wind and solar?

Well, Dean, in terms of the first question, wireless infrastructure for the cellular market has diminished due to demand, so it is less than 10% of our revenue at the moment. We probably see that market continuing to be flat for the next couple of years as the infrastructure build-out demand is not there for wireless cellular work. However, we continue to compete in that market sector, and we have very strong relationships with commercial wireless carriers. In regard to your second question in terms of wind and solar, the alternative energy infrastructure project that we have is a very heavy content of electrical power associated with both wind and solar. The infrastructure that's required includes structured cabling and electrical low-voltage power, a lot of data transmission. So it does represent a significant component of a wind or solar project, and it looks like it will continue to remain a big component of our alternative energy team going forward.

My question was what percentage of expected earnings per share you expect wind and solar power transmission to account for, for example, in the next four or eight quarters?

Well, our alternative energy business, we classify that in our special deconstruction, and as I had mentioned, that represents from a breakdown - let me just check my notes here - from the breakdown it represented 14% of our revenue for the quarter. So from an earnings perspective, we haven't broken it down specifically but I would say energy, alternative energy, would probably represent in that range of 12% to 14% of earnings per share as a breakdown, but growing.

As there are no further questions, I would like to thank all of the participants on today's WPCS International Incorporated fiscal year 2009 first quarter investor conference call. Please keep in mind that a replay of this investor conference call will be available for a period of five days by dialing 402-220-2946 and using 81647# as the passcode. This will conclude the call.