Good morning, ladies and gentlemen, and welcome to the CTI Industries Announces Year-End and Fourth Quarter 2016 Financial Results. This call is being recorded. This conference may contain forward-looking statements, as defined in Section 27A of the Securities Act of 1933 as amended, including statements regarding, among other things, the company’s business strategy and growth strategy. Expressions, which identify forward-looking statements speak only as of the date this statement is made. These forward-looking statements are based largely on this company’s expectations and are subject to a number of risks and uncertainties, some of which cannot be predicted or quantified and are beyond their control. Future developments and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the forward-looking information will prove to be accurate. I will now turn the call over to Stephen Merrick, President. Please go ahead, sir.

Good morning, everyone. Welcome to our CTI Industries earnings conference call and which will report on our results for the fourth quarter of 2016 and for the full-year. I am joined on the call today by John Schwan, our Chief Executive Officer; Tim Patterson, our Chief Financial Officer; and Stan Brown, our Director of Investor Relations. At the conclusion of our report, we will open the call for questions. Our earnings press release has been issued and is available now. I am pleased to report that we have just completed one of the best years in our 40-year history. In fact both for the year and for the fourth quarter, our net sales reached record levels. For the year, net sales were $64,268,000, the highest in our history, and an increase of 8.3% over net sales of $59,365,000 in 2015. For the fourth quarter, net sales were $21,437,000, also the highest for any quarter in our history. For the year, we had income from operations of $2,840,000, an improvement on 2015 and one of the two or three highest we have ever had in an annual period. And in the fourth quarter, income from operations was $1,918,000, which is definitely the highest we have had for any quarter. Net income for the year was $653,000 or $0.18 a share, compared to $1,047,000 for 2015, which represented $0.32 per share basic and $0.30 per share diluted. For 2016, net income was affected by an income tax provision of $703,000, compared to an income tax provision in 2015 of $370,000. Fourth quarter net sales were $21,437,000 compared to net sales of $15,888,000 in the fourth quarter last year, an increase of almost 35%. Net income in the fourth quarter was $909,000 or $0.25 per share of basic and $0.24 per share diluted,…

Yes, indeed. [Operator Instructions] And we’ll take our first question from Michael Kaplan with Garden State Securities.

Hey, how are you?

Hello.

The company obviously had a great year and record fourth quarter. With management where it is in their ownership of the company, what’s the exit strategy or what looks like a good time over the long-term if that’s something that’s been geared up?

Well, we regularly engage in a review of our various alternatives for financing and other opportunities for maximizing shareholder value. That’s something that we engage in internally on a confidential basis going forward.

Okay.

[Operator Instructions] And we do have another question from Michael Goodrich with B&G Capital.

Good morning, gentlemen. How are you?

Good morning.

Good morning, Michael.

Congrats on the great year and the great fourth quarter.

Thank you.

Thanks.

Can you elaborate, I know that was the Vacuum Sealer business had a big order that was shipped in the beginning of the year. Can you elaborate on the future of that Vacuum Sealer business? Moving forward in the next - the second, we’re talking about the first and second quarters and the third quarters of next year?

We do have positions in retail - certain retail chains where we - our product is placed and we expect that we will continue to have placement in those areas. We’re also engaged in a number of internal initiatives and efforts to expand both the line itself and the outlets and the channels in which we sell the line. So we’re certainly working on - we have a base of solid and substantial and we’re working on number of ways in which we can expand the line.

You’re looking for other distributors or you’re doing it internally?

We do to some degree work through distributors, yes. And but in terms of - we also do direct sales efforts by people who are employed by the company in terms of selling efforts. But also in terms of our marketing and our - we do have an online presence, which we are expanding and we are engaged regularly in efforts to develop the line. John Schwan, you may want to comment some on that?

It’s a continuous process. We do a fair number of accounts and have a fair number of prospects, which we will handle and do handle with our own people. However, we are constantly entertaining approaches from other rep organizations to expand the territory we function in.

Okay, that’s excellent. And the re-sales of the bags, I guess you guys are making those as well, correct?

We do some, yes you’re right.

So when people come in, they run out of their bags and they come back and they have to buy your product. I had a question on printing on those bags. Do you have the capability to actually print colors on those bags in your factories?

Yes, we do. We have actually the ability to do six colors and we can’t customize whatever our customer base seeks.

Excellent. That’s very, very good to know. Thank you very much, guys. Best of luck, okay.

Thank you. Thank you very much.

Thank you.

And it appears we have no further questions at this time.

Thank you very much everyone for participating in the call. We appreciate your interest and your involvement, and we’re happy to be able to give you the report that we did and we look forward to good reports in the future. Thanks very much. Have a good day.

And that will conclude today’s conference. We appreciate your participation. You may now disconnect.